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The CASE

Martin Incorp. Was a company carrying on

business in cosmetics and perfumes. They

were not following the holistic marketing concept and were catering to a target market

that was using their products. In other

words, they only concentrated on what they would make and did not bother about

changes in the preferences of their target

market.

Holistic Marketing

Holistic marketing concept is based on

development, design, and implementation of

marketing programs, processes, and activities that recognize their breadth and interdependencies.

Holistic marketing recognizes that "everything matters" with marketing and that a broad, integrated perspective is necessary to attain the

best solution

Four main components of holistic

marketing :

Relationship marketing: it recognizes the long term value of customer relationships and extends communication beyond intrusive advertising

and sales promotional messages

Integrated marketing: Strategy aimed at unifying different marketing methods such as mass marketing, one-to-one marketing, and direct marketing. Its objective is to complement and reinforce the market impact of each method, and to employ the market data generated by these efforts in product development, pricing, distribution, customer

service,

Internal marketing : It is a process that occurs within a company or organization whereby the functional process aligns, motivates and empowers employees at all management levels to deliver a satisfying customer experience

Socially responsible marketing: Socially responsible marketing is a marketing philosophy that states a company should take into consideration what is in the best interest of society in the present and long term

The Measures

They were joined by Mr. Shashi Kant Arya, an

MBA majoring in marketing, as marketing

manager. He advised the company regarding the changing consumer preferences, and the changes that were necessary to be incorporated

in the product. He emphasized upon the income

factors and social factors only. He modernized the product to a great extent, and invested Rs 30 lakhs on new packing. Even after six months of these changes brought by him, the company did

not seem to have a proportionate increase in sales

Product Manager’s view

Mr. Lalit Singh, the Product manager was

not happy with the changes and thought that

although an effort has been made in the right direction, apparently, some important factors

concerning consumer behavior have been

neglected.

Do you agree with Mr. Lalit

Singh, the product

Manager?

Do you agree with Mr. Lalit Singh, the product Manager?

My Take

Yes, I agree with the Product Manager, Mr. Lalit

Singh, as the effort indeed was not a whole hearted

one.

The new marketing plan just concentrated on the product, which was already in the market, losing its

grip on consumer’s minds.

Modernizing the product and changing the pack may

change the outlook of the product, but not the image that has been created for the product.

Other factors should have been considered as well, like the customer feedback about the product,

competitor’s strategies, relation with the customers

etc.

Elaborate.

Elaborate.

My Take

There were several factors ignored by Martin

Incorp. While creating its new marketing

plan. Some of the most influencing factors may be:

  • Competitors: The company should study the market and the competitors, they should analyze the reasons behind the other products being preferred over theirs. It might be the quality, quantity, sales promotion or aggressive marketing. The reason should be found and measures need to be taken

  • Customer Relationship: The consumer buys a product not only for the quality it serves but also the image he has of the company in his mind, the new marketing plan should try and enhance the company’s image in public by doing some socially responsible activities like environment awareness campaigns, free eye checkups etc.

Customer Feedback: A market research

should be conducted to find out what

exactly is required by the customer and what is the preferable criteria for the

consumer to buy the product of their class.

This can be done by:

Surveys

Free samples

Buying Pattern study

  • SWOT analysis: The company should conduct a SWOT analysis for itself to

discover the internal and external factors that are responsible for the

enhancement of the company’s sales or

the decline.

Any Questions??

THANK YOU!!!