Transcript Philip Kotler Inspiring the Future Minds

Session with Business Students
Wednesday, 8th June, 2011
Every business is a service business. Does
your service put “ a smile ” on the
customer’s face
The internet will create the winner and bury the laggards
Sell value, not price
Today you have to run faster to stay in place
The most important thing is to forecast
where customers are moving, and be in
front of them
The best advertising is done by satisfied customers
The successful salesperson cares first for the customer, second for the products
Kotler developed new concepts in marketing including demarketing,
megamarketing, turbomarketing and synchromarketing. He believes that
marketing theory needs to go beyond price theory and incorporate the
dynamics of innovation, distribution and promotion systems into
analyzing, explaining and predicting economic outcomes.
Kotler has been consulted by many large companies, including IBM,
Michelin, Bank of America, Merck, General Electric, Honeywell, Samsung,
Coca cola, Hyundai and Motorola — in the areas of marketing strategy,
planning and organization, and international marketing.
He presents seminars in major international cities and countries around the
world on the latest marketing developments to companies and other
organizations.
Philip Kotler (born 27 May 1931 in Chicago) is the S.C. Johnson & Son
Distinguished Professor of International Marketing at the Kellogg School of
Management at Northwestern University.
He received his master's degree at the University of Chicago and his PhD at
Massachusetts Institute of Technology, both in economics. He did
postdoctoral work in mathematics at Harvard University and in behavioral
science at the University of Chicago.
Professor Kotler's book, Marketing Management, is the world's most
widely used graduate level textbook in marketing. His other textbooks
include Principles of Marketing and Marketing: An Introduction and they
are also widely used around the world.
Marketing
Brand is not something you create
Brand is something you establish
A Brands does not become big only working
with big market …
Giants like CocaCola, KFC are in Bangladesh
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Product
Price
Place
Promotion
These are just beginning
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Purpose
Principles
People
Protect (planet)
Profitable
(These all P’s ensure your business PROGRESS
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Spending 100% on marketing (communication)
in general is not appreciable
Companies should spend at least 10% time and
budget through social media
i.e. Facebook, Twitter
Organizations should focus more in to
B2B Marketing and CRM
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Advertising is the sexiest part of Marketing.
We study marketing because we don’t like Finance.
This should not be our concept.
Brand is how you managed expectation. It needs
integrity and promise.
Great marketer is one who have a vision.
Try to go international.
B2B is more important than B2C in the context of world
business.
Social Media (Facebook, Twitter etc. is also important
beside advertising).