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Inspiring words from Philip Kotler - Lessons from legends

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Lessons from Legends - Inspiring and Invaluable quotes taken from the excerpts of speeches made by various guests in Great Lakes Institute of Management. In this series, presenting Dr. Philip Kotler's inspiring words from his speech at Great Lakes Institute of Management.

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Inspiring words from Philip Kotler - Lessons from legends

  1. 1. Great Lakes Institute of Management Presents LESSONSFROM LEGENDS - Powerful quotes from visionaries -Dr. Philip Kotler Professor of International Marketing, Kellogg School of Management
  2. 2. “These are invaluable quotes taken from the excerpts of speeches made by various guests in Great Lakes Institute of Management.” These excerpts were taken from Dr. Philip Kotler’s talk at Great Lakes Institute of Management on July 16, 2006 . LESSONSFROM LEGENDS www.greatlakes.edu.in
  3. 3. The real important things in any society are: first Education and the second wealth. - Importance of Wealth and Education www.greatlakes.edu.in
  4. 4. www.greatlakes.edu.in Marketing has changed a lot from the time it was invented 50 to 60 years before and it is now consequential. It is a new discipline because the old discipline is called sales. They say the Old Testament as the starting point and we would say in our own sales proceedings that a sales person is the one who knows the Old Testament. - Transformation Marketing
  5. 5. www.greatlakes.edu.in Marketing basically defines the way to help Sales people to do their job. The marketer works with the 4Ps. Product, Place, Price and Promotion. - The 4Ps of marketing
  6. 6. www.greatlakes.edu.in We want to reformulate the 4Ps a little differently. I would like to call it as CCDV. A good job in marketing is to Create , Communicate and Deliver Value. - Communicating and delivering value
  7. 7. In marketing your job is to create a customer, more than a product. - Creating customers www.greatlakes.edu.in
  8. 8. www.greatlakes.edu.in Create a loyal customer, create a relationship based on value; based on the promise and the delivery of value. The key word called value proposition should be understood. Marketers should know more about customer mindsets and drivers of decision making. - Value proposition approach to marketing
  9. 9. It turns out that a new kind of marketer has appeared in the company recently, whom we call the CMO, Chief Marketing Officer. If I’m the CEO I would look for a CMO to upgrade the skills and bring the new marketing skills to my organization. - Role of a CMO www.greatlakes.edu.in
  10. 10. www.greatlakes.edu.in I differentiate between the 2 kinds of marketing: downstream and upstream marketing. Downstream marketing is to help sales force sell more, define needs, define how to redevelop value propositions for sales force, while it is trying to win business in a highly competitive betting situation. The upstream marketing is to figure out what the customers will want 3 years from now. It is not only important to sell what you are selling today but your vision should be what people are going to need tomorrow. -Downstream and Upstream marketing
  11. 11. Kodak was making films while the world has turned digital. Kodak should have thought about digital revolution much earlier than they did. So what I’m saying is one part of marketing has to be strategic marketing. - Importance of strategic marketing www.greatlakes.edu.in
  12. 12. www.greatlakes.edu.in In marketing, you have to sell lifestyles as well as sell products. Take for instance Harley Davidson. It is not only a motorcycle it is a whole lifestyle. That’s the style of a Saturday morning. You get rid of your suit, tie and shirt and you put on a leather jacket. All of a sudden you are a new person different from the one during the 5 days in a week. - Marketing sells concepts
  13. 13. www.greatlakes.edu.in THANK YOU

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