Marketing management increases the customer base and the business’ perceived value through supervising and planning new product development, advertising, promotions and sales.
A holistic marketing approach is desired because of the flexibility this provides for a company’s programs and activities which continuously change due to the fluctuations in the chosen market. Any industry can implement all four components distinguished by holistic marketing which are relationship, integrated, internal and performance.
The marketing programs are detailed plans containing the mix of marketing elements chosen to achieve the strategic objectives. The concept of holistic marketing is considered more effective for a company’s chosen market and will be incorporated to accomplish the desired results. These will be designed to implement the objectives leveraging the reputation of the organization providing the foundation for the company’s brand equity.
This is important due to the future of businesses where the strategic focus should be on brand image with equal emphasis on both tangible operations and online services. More specifically, companies should adopt a business strategy where successful value creation depends on successful value delivery regardless of the distribution channels chosen. A company needs to preserve the integrity of the brand and choose the appropriate channel in order to preserve the customer’s experience.
More importantly however, is an equally powerful competitive differentiator which is to deliver consistency to all target markets. Regardless of the channel a customer chooses to interact with a company or vice versa, the value is in attaining a positive experience for the customer through every channel all the time. If a company treats each channel as a separate entity, the risk is greater of losing customers because of the failure to deliver consistency. If a customer’s in-store experience is negative, the value has already diminished even if there is a positive online experience.