Today companies have to prepare themselves for the new economy, which is characterized by globalization, hyper competition, technology and empowered consumer. The old economy marketers worked on certain set theories and principles, which was focused on internal efficiency and productivity. But now the focus has shifted to doing well in the marketplace against competitors and hence strategizing for the future. This can be achieved by implementing holistic marketing.
There is a need for holistic marketing, which brings us to the three most important and critical success factors that are Relationships, Information and Services. Their literal meaning is understood by all but what needs to be known is what they symbolically stand for in today’s market. The degree to which these concepts can be applied would vary from industry but their importance cannot be ignored.
3.1 OBJECTIVES OF THE STUDY
To describe the concept of Holistic Marketing
To find out the major challenges in implementing Holistic marketing To find out various coping mechanisms for the same
To study the executives as well as consumers’ perception towards Holistic marketing
3.2 RESEARCH DESIGN
Research design used will be Exploratory Research Design as we have to explore the obstacles and also the ways to tackle these obstacles and in later stages research design is descriptive one.
3.2.1 SAMPLING TECHNIQUE
The sampling technique used here will be “Cluster Sampling” as we would collect data from 4 different districts of Punjab and Chandigarh.
3.2.2 SAMPLE SIZE
150 respondents including 100 Consumers & 50 Executives.
3.2.3 SAMPLE UNIT
Generally all consumers above 21 years of age would be taken as respondents.
3.2.4 DATA COLLECTION TOOLS
Through Questionnaires filled by the Consumers and Executives. Through Internet/Search Engines
3.2.5 SCALING TECHNIQUES
Scaling involves creating a continuum on which measured objects are located Each respondent is assigned a number indicating as favorable attitude ,a neutral attitude or favorable attitude .Scaling is the process of placing the respondents on a continuum with respect to their attitude .
1. Rank order Scale. 2. Likert scale.
3. Multiple choice questions.
Rank order scale: A comparative scaling technique in which respondents are
presented with several objects simultaneously and asked to order or rank them according to some criterion.
Likert scale: A measurement scale with five response categories which requires
the respondents to indicate a degree of agreement or disagreement with each of a series of statements related to the stimulus objects.
Multiple choice questions: In multiple choice questions, the researcher provides a
choice of answers, and respondents are asked to select one or more of the alternatives given.
3.26 TOOLS APPLIED:
Various tools have been used for collecting the data from the people such as 5 point Rating Scale, χ2 test, Z test at 5 % level of significance, weighted mean, Bi-variate correlation, Factor
Analysis and bar graphs is used for the analysis of the data and discussions in the research.
χ2 test to find out the significant difference between the Users of various cellular service
providers at 5 % level of significance.
H0: There is no significant difference between the users of various cellular services.
χ2 test to find out the significant difference between the postpaid and prepaid customers at
5 % level of significance.
H0: There is no significant difference between the postpaid and prepaid customers.
H1: There is a significant difference between the postpaid and prepaid customers.
χ2 test to find out the significant difference between the time period of using the services at
5 % level of significance.
H0: There is no significant difference between the time periods
H1: There is a significant difference between the time periods.
WMV, Bar Charts and Z test are applied inorder to find out the major important influencers which motivate the people to buy the cellular service from the particular company.
H0: such that performance of service is an extremely important influencer.
H1: such that performance of service is not an extremely important influencer.
H0: such that nominal tariff plans is an extremely important influencer.
H1: such that nominal tariff plans is not an extremely important influencer.
WMV, Bar Charts and Z test are applied inorder to find out the people perception regarding the service quality on the basis of its excellence. Service quality is determined on the basis of the excellence of the service attributes and service dimensions.
H0: such that speed of service is perceived as of excellent quality.
H1: such that speed of service is not perceived as of excellent quality.
H0: such that ability of the company is perceived as of excellent quality.
Z test and bar charts have been used inorder to find out the overall satisfaction of the people regarding the service and service provider.
H0: such that people are highly satisfied with the service and the service provider.
H1: such that people are not highly satisfied with the service and the service provider.
WMV, Bar Charts and Z test are applied inorder to find out the likelihood of the people regarding to continue with the same service provider, to refer to others and their likelihood to switchover to other service provider. The tools are used to check the customer loyalty of the people.
H0: such that people are most likely to continue with the same service provider.
H1: such that people are not most likely to continue with the same service provider.
H0: such that people are most likely to refer to others about the service provider.
H1: such that people are not most likely to refer to others about the service provider.
H0: such that people are unlikely to switchover to other service provider.
H1: such that people are not unlikely to switchover to other service provider.
The relationship between the Occupation of the respondents and their likelihood to switchover to other service provider is also studied with the help of the bar diagram.
The relationship between the Kind of Cellular service users and their likelihood to switchover to other service provider is also studied with the help of the bar diagram.
Factor Analysis is applied in order to find out the main factors which lead to customer satisfaction regarding the cellular service and the cellular company. Factor analysis is applied on the various variables which lead to the customer satisfaction inorder to find the major factors.