ASSIGNMENT

Name: Subah Ayaz

Roll No. EP 19543090
Class: MBA 2.5- HR
Course Title: Marketing Management
Submitted by Group C:
Eraj Rehman 19543011
Hafiza Tahreem Iftikhar
19543013

Subah Ayaz 19543090

Sidra Mujahid 19543035

Submitted to
Sir Shameel Ahmed Zubairi
1st October, 2020
Q.1 Holistic Marketing Concept is better and more practical concept
than other concepts that you studied in chapter one . Why? Explain
HOLISTIC MARKETING
Holistic marketing is a philosophy that drives towards the alignment of your systems, services, processes
and customer touch points, with the end goal of delivering a seamless, consistent customer experience
across multiple channels. It’s a shared purpose for your people and consistent, integrated interactions
with your customers

Holistic marketing is all about considering your whole business as one interconnected entity, and using
that mindset to establish your strategy. Like the human body, your business has different parts, but it’s
only able to function properly when all those parts work together towards the same objective.

COMPONENTS OF HOLISTIC MARKETING

In order for the holistic marketing concept to be implemented correctly, all activities and actions need to
be carefully planned out. Following are the 4 components:

Internal Marketing
Internal marketing refers to the internal management of system, the marketing department and the
collaboration between the marketing department and other departments.

Integrated Marketing
Integrated marketing involves the pricing strategy, product strategy, placing strategy, promotion strategy
and communication strategy. Integrated marketing is the marketing programs to create, communicate and
deliver value to the customers. Marketers should design and implement these activities.

Performance Marketing
Performance marketing is focused on different business activities, such as how to sell a product, brand
and customer equity, and the ethical and legal responsibilities a business and product upholds.

Relationship Marketing
Relationship marketing is centered on the relationship you have with your customers, employees, partners
and competitors.

In business, a successful relationship between the business and customers is everything. It keeps
customers coming back for more, which increases profits and it also gets them to recommend the
business to other people, which help build the brand image and reinforce the brand.

WHY HOLISTIC APPROACH IS BETTER THAN OTHER CONCEPTS

Choosing and investing in the wrong marketing strategy can cost a business a ton of money, which is why
it is important to correctly determine what kind of strategy is most suitable for your company.
Industries change all the time, as does marketing, which adds another challenge to this process.

A Holistic marketing strategy is developed by thinking about the business as a whole, the business place in
the economy and society, and in the lives of its customers. The concept attempts to develop and maintain
multiple perspectives on the company’s commercial activities. In today’s technology induced business
world, marketers have to think beyond the older marketing concepts. Holistic marketing recognizes that
every component, outlet and avenue of interaction matters when creating an engaging and uniform
advertising strategy which is necessary to attain the best solution. It optimizes all channels of
communication for consistently integrated marketing strategies. These can help to improve
communication across the entirety of your business. A holistic approach is effective in managing projects
across multiple marketing channels, giving a reliable, synergetic experience to all customers across all
platforms.
Holistic marketing is about efficient workflows, geared towards agreed and shared goals. It suddenly
becomes significantly easier to direct resources to where they’ll be most effective, and – by facilitating
greater communication and collaboration; you can cut down significantly on duplication of effort, saving
company time and money. It also means organizational risks can be spotted and addressed before they
become real problems – and everyone has a stake in how to move things back in the right direction.
Rather than presenting diverging and conflicting information in different areas of your brand, holistic
marketing brings your brand effectively ‘under one roof,’ presenting greater consistency and cohesiveness
for your customers, even if you’re a small business.

Businesses need a holistic marketing approach which can link different systems, services, processes and
customer touch points in to one single unit.

Q.2 Highlight and discuss the role of marketing manager in company’s

strategic planning?
Strategic Marketing Manager:

Strategic marketing managers are popularly known to be efficient at analyzing sales and marketing metrics
and utilizing them to forecast market trends. These professionals set specific marketing goals, by designing
and applying marketing strategies that are aligned with business targets. Their main purpose is to identify
new opportunities within the marketplace and generate innovative ideas to promote particular brands,
products or services. These professionals are primarily hired by companies to address advertising needs
and to make sure brand consistency is maintained through all marketing channels.

Developing Marketing Strategies and Plans

Strategic marketing managers responsible for planning and executing marketing strategies to
establish brand consistency and increase sales for all types of company. He must develop concrete
marketing plans that specify the marketing strategy and tactics going forward.

Capturing Marketing Insights

Strategic marketing managers need a reliable marketing information system to closely monitor marketing
environment so he can continually assess market potential and forecast demand. Organization’s
Microenvironment consists of all the players who affect its ability to produce and sell it includes suppliers,
marketing intermediaries, customers, and competitors and macro environment includes demographic,
economic, physical, technological, political-legal, and social-cultural forces that affect sales and profits.

Strategic marketing managers also need a dependable marketing research system. To transform strategy
into programs, marketing managers must make basic decisions about their expenditures, activities, and
budget.

Connecting with Customers

Strategic marketing managers must consider how to create value for its chosen target markets and
develop strong, profitable, long-term relationships with customers To do so, it needs to understand how
organizational buyers buy. It needs a sales force well trained in presenting product benefits.

Building Strong Brands

Strategic marketing managers must understand the strengths and weaknesses of their brand before
consumer and competitor identifies it. He must also pay close attention to competitor’s moves and
knowing how to react quickly and decisively.

Shaping the Market Offerings

At the heart of the marketing program is the product—the firm’s tangible offering to the market, which
includes the product quality, design, features, and packaging. To gain competitive advantage, Strategic
marketing managers may provide leasing, delivery, repair, and training as part of its product offering.

Delivering Value

Strategic marketing managers must also determine how to properly deliver to the target market the value
embodied in its products and services. He must identify, recruit, and link various marketing facilitators to
supply its products and services efficiently to the target market. It must understand the various types of
retailers, wholesalers, and physical-distribution firms and how they make their decisions.

Q.3 Identify and describe the strategies which can be used to fill the
Strategic-Planning Gap.
Strategic planning:
Visionary goals are necessary and important for a company’s development. To build a bridge between
current status and desired target, called GAP-Analysis. Basically, it lines out a comparison between organic
sales progression and the strategic growth. Ideally the GAP-Analysis is broken down on business units or
product lines. To close the revenue gap, different strategic scenarios are developed. Beside the sales
revenue potential, the scenarios have to be assessed also with other factors like suitability and risks.
Strategies used to fill strategic planning gap:
Strategic planning gap is the difference between desired goals and the actual goals of a company. If a
company does not know of its position in relation to their goals, that company is not likely to achieve the
desired outcomes.

The five stages of the process are goal-setting, analysis, strategy formation, strategy implementation and
strategy monitoring. Clarify Your Vision. The purpose of goal-setting is to clarify the vision for your
business. Gather and Analyze Information. Formulate a Strategy, Implement Your Strategy, Evaluate and
Control.

5 Step Process for Developing a Strategic Plan.

Step 1: Write a Vision Statement.

Step 2: Write a Mission Statement.

Step 3: Perform a Gap Analysis.

Step 4: Write SMART Goals.

Step 5: Monitor Progress.

ASSESSING GROWTH OPPORTUNITIES. It includes planning new businesses, downsizing,

and terminating older businesses. If there is a gap between future desired sales and projected sales,
corporate management will need to develop or acquire new businesses to fill it. The first option is to
identify opportunities for growth within current businesses (intensive opportunities). The second is to
identify opportunities to build or acquire businesses related to current businesses (integrative
opportunities). The third is to identify opportunities to add attractive unrelated businesses (diversification
opportunities).

Intensive Growth
Corporate management’s first course of action should be a review of opportunities for improving existing
businesses. One useful framework for detecting new intensive-growth opportunities is a “product-market
expansion grid.” It considers the strategic growth opportunities for a firm in terms of current and new
products and markets. he company first considers whether it could gain more market share with its
current products in their current markets, using a market-penetration strategy. Next it considers whether
it can find or develop new markets for its current products, in a market-development strategy. Then it
considers whether it can develop new products of potential interest to its current markets with a product-
development strategy. Later the firm will also review opportunities to develop new products for new
markets in a diversification strategy.

Integrative Growth
A growth strategy in which a company increases its sales and profits through vertical, horizontal,
conglomerate & concentric integration within its industry. Integration can be through acquisition or
merger. When one firm takes over another firm, it is called acquisition. But if a new firm is created by
combining (or merging) two existing firms, it is called merging.
Diversification Strategy
A diversification strategy is the strategy that an organization adopts for the development of its business.
This strategy involves widening the scope of the organization across different products and market
sectors. The strategy is to enter into a new market or industry which the organization is not currently in,
whilst also creating a new product for the new market

Q.4 Describe the functions of and role of ‘Marketing Information

System

MARKETING INFORMATION SYSTEM.

“A marketing information system is a continuing and interacting structure of people, equipment and
procedures to gather, sort, analyse, evaluate, and distribute pertinent, timely and accurate information for
use by marketing decision makers to improve their marketing planning, implementation, and control".

MkIS is a computerized system that is designed to provide an organized flow of information to enable and
support the marketing activities of an organization. The MkIS serves collaborative, analytical and
operational needs. The MkIS enables managers to share information and work together virtually. In
addition, the MkIS enable marketers to collaborate with customers on product designs and customer
requirements

The role of MIS is to identify (find out) what sort of information is required by the marketing managers. It
then collects and analyzes the information. It supplies this information to the marketing manager at the
right time. MIS collects the information through its subsystems. These subsystems are called components.

Philip Kotler has defined four components of marketing information system which are interrelated. These
components are internal record system, marketing research system, marketing decision support system
and marketing intelligence system.

1. Internal Records,

2. Marketing Intelligence,

3. Marketing Research (MR), and

4. Marketing Decision Support System

Internal Records: The first component of MIS is ‘Internal Record’. Marketing managers get lots of
information from the internal-records of the company. These records provide current information about
sales, costs, inventories, cash flows and account receivable and payable. Many companies maintain their
computerized internal records. Inside records help marketing managers to gain faster access to reliable
information.

Marketing Intelligence: The second component of MIS is ‘Marketing Intelligence’. It collects

information from external sources. It provides information about current marketing-environment and
changing conditions in the market. This information can be easily gathered from external sources like;
magazines, trade journals, commercial press, so on. The information which is collected from the external
sources cannot be used directly. It must be first evaluated and arranged in a proper order. It can be then
used by the marketing manager for taking decisions and making policies about marketing.

Marketing research: The third important component of MIS is ‘Marketing Research’. MR is

conducted to solve specific marketing problems of the company. It collects data about the problem. This
data is tabulated, analyzed and conclusions are drawn. Then the recommendations are given for solving
the problem. Marketing research also provides information to the marketing managers. However, this
information is specific information. It can be used only for a particular purpose. Marketing research
techniques are used by manufacturers, exporters, distributors and service organizations.

Marketing decision support system: The fourth component of MIS is ‘Marketing Decision
Support System’. These are the tools which help the marketing managers to analyze data and to take
better marketing decisions. They include hardware, i.e. computer and software programs. Computer helps
the marketing manager to analyze the marketing information. It also helps them to take better decisions.
In fact, today marketing managers cannot work without computers. There are many software programs,
which help the marketing manager to do market segmentation, price fixing, advertising budgets, etc.

ROLE OF MKIS
Proper Marketing Planning
Marketing information system helps in framing of marketing policies. It regularly supplies all market
related information to management for regulating all market operations. Various budgets are prepared in
accordance with market conditions through information provided by this system for carrying out
production, distribution and marketing activities. Proper availability of information helps in reducing the
complexity of designing marketing activities which keeps on changing as per the requirements of market.

Anticipation of Customer Demands

Anticipation of customer needs and wants is important for every organisation. It helps in taking proper
decisions regarding production activities and delivering the right product which may satisfy customers. If
producers do not have an idea of what their customer wants then they may incur losses by producing
product which may not be accepted by customers.

Adequate information about nature, size and character of consumer demands is necessary for
manufacturing right product. It gives full details regarding changing tastes, fashions and likes of customers.
Helps In Analyzing Competition
Marketing information system helps organisations in analysing the competitive environment around them.
It enables the prediction of competitor’s behavior which helps in formulating strategies accordingly to gain
advantage over them. Various decisions regarding nature of product, pricing and promotion are taken by
business by considering their rivals activities.

Today’s market is very competitive and every business needs to face and overcome it. Through market
intelligence system, organisations get regularly all information about market competition which helps in
making plans for overcoming this.

Increase the Efficiency

Every organization strives to enhance its efficiency and overall profitability. Marketing information system
helps in proper management and coordination of various departments within organization. It develops a
proper communication network through which information can be easily circulated within whole
organization among employees and employers. Employees can contact their employers in case of any
problem so that it can be easily resolved. Proper communication between these two give clear picture to
employees regarding what is to be done so that they can focus on their activities attentively. This increase
the overall productivity and efficiency of organization.

Better Understanding with Customers

Developing better understanding with customers is beneficial for retaining them for a longer term. Market
information system aims at strengthening the relation of business with customers. It develops a proper
channel through which business are able to interact with their customers.

Business can easily take their all queries and resolves them timely which help in satisfying them. As a part
of marketing information system, business maintains an online website for providing various customer
support services. Customers can contact them through their websites and send them feedback or their
queries. A proper communication between customers and organisation takes place which results in better
understanding among them.

Recognizes Market Trends and Changes

Marketing information system recognizes all trends and changes prevailing in market. It monitors and
acquires the current economic conditions and regularly updates the business about it. Business requires
market intelligence system to keep in touch with market always.

They are able to frame better strategies to reflect these prevailing changes in their activities. By analyzing
the current economic conditions of market, business can easily decide optimum production of its
products. Overproduction or underproductions are both unfavorable for any organization. Proper analysis
of market changes and trends helps in avoiding these situations and production of right quantity.
Enhances Management Performance
Marketing information system has an important role in improving the performance of management.
Quality of information available with managers impacts their decision making ability. It collects data fromk
both internal and external sources of organisation and delivers it regularly to managers.

Management has clear idea of what is going inside the organisation and can check whether it is in line
with requirements of market. They can take all necessary steps as and when required to bring changes
accordingly. By maintaining a systematic internal records managers can easily ensure that optimum
amount of required resources are always maintained to avoid any crisis in organisation.

FUNCTIONS OF MKIS
The various functions of Marketing Information System are:

The marketing identification function: The determination of potential buyers and their
characteristics is vital in order to satisfy their needs and desires. This enables the marketer to know

 Where the buyers are located?

 When do they buy?

 How frequently do they buy?

 In what quantity do they buy?

The purchase motivation function: An assessment of various social, economic and

psychological forces which influence the purchase behavior of the market is made.

The product adjustment function: This function includes all such activities which are
necessary to match the product/services offerings with the market.

The physical distribution function: The actual movement of goods from the points of
production to the points of consumption is considered in this function.

The communication function: This function includes decisions on advertising, personal selling,
sales promotion, publicity, packaging issues etc.

The transaction function: It includes all such activities which are needed to facilitate the
transfer of title of ownership of goods/services between the parties in a transaction.

The post transaction function: In this function, feedback about the performance of the
product/service is obtained from the customer, so that customer satisfaction can be ensured.