22 (Part 3) By Philip Kotler Quotes on Marketing Quotes From Marketing Experts That Will Guide Your Business To Success!
Philip Kotler is one of the world’s foremost experts on the strategic practice of marketing, voted the first leader in Marketing Thought by the American Marketing Association. He is the S.C. Johnson Distinguished Professor of International Marketing at the Kellogg School of Management of Northwestern University, and the author of many influential books. Including the 13th edition of Marketing Management.
"Today's smart marketers don't sell products; they sell benefit packages. They don't sell purchase value only; they sell use value."
The Research and Development department - - not the sales department - - should be held accountable for a product's success.
Every company should work hard to obsolete its product line... before competitors do.
We are saying you've got to understand and choose the customers you want to serve. Don't just go after everyone. Define the target market carefully through segmentation and then really position yourself as different and as superior to that target market. Don't go into that target market if you're not superior.
“Marketing is the art and science of choosing target markets and building profitable relationships with them; it’s the art of demand management.”
Marketers influence demand by making the product appropriate, attractive, affordable, and easily available to target consumers.
"We are not in a state of competition anymore; we're in a state of hyper-competition. So people are desperately looking for handles -- functional features, emotional appeals -- that will draw people to their product.
"Building a brand is a roll-out process, not a drop everywhere in the world at one time. The key to brand-building is to have something good that you roll-out in a very intelligent way. Maybe even invisibly for a while because you want to be under the radar screen of competitors."
We should think of owning a word or a phrase that helps to build customer retention and loyalty. Look at how we buy the Mercedes because it's the best engineered car. We buy a BMW because it's the best driving performance. We buy the Volvo because it's the safest automobile. A lot of these companies lose that edge too, but they don't lose the impression."
"There are still too many CEOs who identify marketing with selling and advertising. But marketing has evolved to be not only product centered but customer centered.”
Every business is a service business. You are not a chemical company. You are a chemical services business.
I don't care what happened to your profits. Have you improved your share of the customer's mind and heart this year?
"There's a big movement to say, 'we're not just adding services to our business and our product, we're actually trying to design an experience.' You'll see that language being used. We're in the experience design business."
"The worst thing is that if something works, your competitors are going to clone it and before you know it anything that you had as a differentiator is imitated by the others. So you're in the business of constant innovation. Constantly asking yourself, 'Three years from now, what will our differentiator be?'
You should never go to battle before you've won the war on paper.
Urging protectionism to save your business is a sure way to lose it.
“Companies worry too much about the cost of doing something. They should worry about the cost of not doing it.”
Cost is of no importance in setting the price. It only helps you to know whether you should be making the product.
I would rather improve my business every day than depend on a breakthrough every year.
The major cause of company failure is company success.