Relationship Marketing:
Relationship marketing aims to build mutually satisfying long-term relationships with key constituents in order to earn and retain business.Four key key constituents for relationship marketing are customers, employees, marketing partners, and members of the financial community .Marketers must create prosperity among all these constituents and balance the returns to all key stakeholders.To develop strong relationships with them requires understanding their capabilities and resources,needs,goals and desires.The ultimate outcome of relationship marketing is a unique company asset called a marketing network,consisting of the company and its supporting stakeholders-customers, employees,suppliers,distributors,retailers and others-with whom it has built mutually profitable business relationships. The operating principle is simple:build an effective network of relationships with key stakeholders,and profits will follow.Thus more companies are choosing to own brands rather than physical assets and are subcontracting activities to firms that can do them better and more cheaply,while retaining core activities at home.
Integrated Marketing:
Integrated marketing occurs when the marketer devises marketing activities and assembles marketing programs to create,communicate,and deliver value for consumers such that "the whole is greater than the sum of its parts."Two key themes are that
1.many different marketing activities can create,communicate,and deliver value,and
2.marketers should design and implement any one marketing activity with all other activities in mind.All company communications also must be integrated.Using an integrated communication strategy means choosing communication options that reinforce and complement each other.A marketer might selectively employ television,radio,and print advertising,public relations and events, and PR and Website communications so each contributes on its own as well as improving the effectiveness of the others.Each must also deliver a consistent brand message at every contact.Online marketing activities are increasingly prominent in building brands and sales.
Internal Marketing:
Internal marketing, an element of holistic marketing,is the task of hiring,training,and motivating able employees who want to serve customers well.It ensures that everyone in the
organization embraces appropriate marketing principles,especially senior management.Smart marketers recognize that marketing activities within the company can be as important-or even
more important-than those directed outside the company.It makes no sense to promise excellent service before the company's staff is ready to provide it. Marketing is no longer the responsibility of a single department-it is a company-wide undertaking that drives the company's vision,mission,and strategic planning.It succeeds only when all departments work together to achieve customer goals.Internal marketing requires vertical alignment with senior management and horizontal alignment with other departments, so everyone understands,appreciates and supports the marketing effort.
Performance Marketing:
Performance marketing requires understanding the financial and non-financial returns to business and society from marketing activities and programs.Top marketers are increasingly going beyond sales revenue to examine the marketing scorecard and interpret what is happening to market share,customer loss rate,customer satisfaction,product quality and other measures.They are also considering the legal,ethical,social and environmental effects of marketing activities and programs. Financial Accountability Marketers are increasingly asked to justify their investments in financial and profitability terms,as well as in terms of building the brand and growing the customer base.They are employing a broader variety of financial measures to assess the direct and indirect value their marketing efforts create and recognizing that much of their firms market value comes from intangible assets,particularly brands,customer base,employees,distributor and supplier relations,and intellectual capital.
Social Responsibility Marketing:
Because the efforts of marketing extend beyond the company and the customer to society as a whole,marketers must consider the ethical,environmental,legal,and social context of their role
and activities. The organization's task is thus to determine the needs,wants,and interests of target markets and satisfy them more effectively and efficiently than competitors while preserving or enhancing consumers and society's long-term well-being.
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