1) What is holistic marketing? Write a short note.

2) What constitutes a good marketing research? Explain.

3) What is Maslow’s Hierarchy of Needs? How it can help us in understanding consumers’ decision making process?

4) What is customer satisfaction? How is it measured?

Summary

The paper will answer some questions such as the meaning of holistic marketing, what constitutes good marketing research, the meaning of Maslow's hierarchy of needs, and the meaning of customer satisfaction and how it is measured.

Step-by-step explanation

Explanation

Question 1

Holistic marketing refers to a marketing strategy that totally considers the whole of a business and also all the different marketing channels as a system. Holistic marketing is important because it creates a united and positive business image, and also it helps with consistency because it links customer touchpoints. A good example of holistic marketing is Coca-Cola because they drafted their entire marketing plan on one goal, which is happiness. Holistic marketing has four components, which include; relationship, integrated, internal, and societal marketing.

Question 2

Good marketing research constitutes the following;

Customers. They are people who buy your product or service.

Suppliers. This is where you get the input products that enable you to serve your customers.

Competitors. These are businesses that sell the same product as yours.

Question 3

Maslow's hierarchy of needs is a theory that explains human motivation based on the pursuit of different needs. The theory highlights that consumers are motivated to fulfill their needs in a hierarchical order starting with the most basic needs before satisfying more advanced needs. According to the theory, the essential goal is to reach the fifth level of the hierarchy called self-actualization.

 Maslow's hierarchy of needs helps us understand consumers' decision-making process by assisting consumers in making the best decision to satisfy those basic needs that are more important to them before satisfying more advanced needs. Therefore, the theory is an important decision-making tool.

Question 4

Consumer satisfaction is defined as all the measurements taken to determine how happy or satisfied the customers are with a product, services, and capabilities. Surveys and ratings are the most important customer satisfaction information that helps a company determine how best to improve or change its products and services.

Organizations measure customer satisfaction with the feedback customers give about a product. Customer satisfaction is also measured by a standard customer satisfaction metric where customers are asked to rate their satisfaction for a product and service they used.