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.

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. “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. The real important things in
any society are: first Education and
the second wealth.
- Importance of Wealth and
Education
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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. 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. 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. In marketing your job is to create a
customer, more than a product.
- Creating customers
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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. 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
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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. 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
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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. www.greatlakes.edu.in
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