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Seminar Conducted By Philip Kotler On 16th March 2013

Topic:

Modern Marketing

On 16th of March 2013, Dr. Philip Kotler (Marketing Guru), Conducted a seminar at Shanmukhanand Hall, Sion, Mumbai on the current topic, Modern Marketing. Timing for seminar was 9:00am to 12:00 noon. Students from IMED Bharati Vidyapeeth Deemend University attended this seminar. Students from other universities also participated in the seminar. Eagerness to see and meet Philip Kotler was clearly seen on the faces of

participants. Dr. Kotler started his session with a question. He gave following situation to the participants: Being a CEO of a company you are required to appoint a Chief Marketing Officer (CMO). While going thorough selection process, you encountered with five candidates who shared following information: First candidate was a very pleasant looking guy and said he has studied all the books of Philip Kotler. Second candidate said that he is very good at social media and has developed many web pages and has deep knowledge about digital world. Third candidate was very good at selling and promised to sell anything to anyone. Forth candidate told that he is a kind of entrepreneur. He developed five ventures but unfortunately they failed. So now he is thinking to develop a sixth one. After giving this background, Dr. Kotler asked participants that which candidate they should select and why? He received many suggestions but the one he adopted was the last candidate, reason being candidates attitude. The fifth candidate was a kind of innovator rather continuous innovator. Such personalities never give up. They keep on trying and trying until they hit their expectations. Marketing is such a field which requires personality who is always open with a learning approach and shares his/her best with a dynamic behaviour towards continuous value addition. Dr. Kotler asked the participants to keep their brain always open so that a new idea should have frequent hit. Kotler asked students to not do marketing form office but to get into the customers place and do the needful for long run gain.
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He asked marketer to not only use their mind but also their heart. He asked marketers to touch the spirit of the customers. One by one he focused on following points:

Why Marketing?
Marketing always middle man to understand their needs and helps them to salisfy them. It shapes are wants and lifestyle. It creates job by understanding needs and wants of the customer. (If someone wants to buy anything, he can go to the market place at but at any point in time). Online marketing is a coming hub for mega marketing. Who was the first marketer? Adam, Eve and Snake. First Departmental Store? Mitsui Family in 1950 (Japan) First News Paper ad Coffee in England 1652 First advertising agency 1869 Ayrs and Sons. First Brand name product 1870 Pears Soap First Packing 1880 Laundry Soap in English First Marketing Research Development1911, Curtis Publishing Company Brand is a delivery of Promises.

Why Marketing Start?


Market and trade have a long history. But marketing did not exist as a term until early 1900s. The first marketing textbooks were published in 1900-1910. Some economists started to teach distribution, and then later advertising, promotion and prising was added. Economists only focuse on Price. But this is not the actual scenario. Price cannot be the only factor which affects its demand and distribution. There are many other factors which are directly or indirectly related with the Marketing of any product or service.

Dr. Kotler focused on some of the contributors to the factors which are directly or indirectly related with the Marketing: Ernest Dicher Alfred Politz Julius Roseworld Wnderman David Ogibey Sterely Marcous Edward Bernays Dale C (Motivational Psychologist) (Attitude Scientist) (Philanthrophist) (Direct Marketing) (Advertising Field) (Retail Executive) ( Father of Public Relations) (Sales Philosopher)

Reasons to why companies established Marketing Department:


To Conduct Consumer Research To find leads in order to get into the market To prepare brochures and other promotional activities

Marketing is everyones job. Each employee of the company has a responsibility to do marketing of the product of services which his/ her company provides.

The major tasks which a CMO is responsible for:


To create Brand To make categories among the products or services Market Segmentation To maintain sound distribution Channel To manage the prising strategies of the company To meet the common objective of the Company To maintain proper Database To focus on Direct Marketing in much of the cases.

According to Dr. Kotler, there can be four types of CEOs:


1P CEO Who only focuses on 1 P of the marketing mix i.e. among, Product, Price Place , Promotion. 4P CEO Who focuses on 4 Ps of the Marketing Mix i.e. Product, Price, Place, Promotion STP CEO Who focuses on Segmentation, Targeting and Positioning. ME CEO Who says Marketing is Everything, i.e. creating right office for right people and making right product for right customer. E.g. Apple Computers.

What is expected from a Chief Marketing Officer?


To be the voice of Customer (VOC) Monitor the evolving business landscape and gather customer insight. Be the steward of the corporate brand. E.g Kodak Do not loose your brand Upgrade Marketing technology and skills in the company Being insight into the corporate portfolio and synergists Measure and make accounting for marketing financial performance

Marketing Forges Ahed: Commercial Marketing Place Marketing Person Marketing Social and Political Marketing How one can personally develop himself for marketing? Working as per the conditions
Holding Desirableness Did you apply to bank for a large loan and need to establish your reliability? Did you ever propose a new product to your senior management that ypu hoped they would accept.
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What People Dislike about marketing?


Intrusion Interruption Exaggeration (E.g. A cosmetic company can say, In factory we make cosmetics in store we sell hope.) Deceptive Practice Hard selling or pressure selling Buy now, pay later (Giving loans to those who cant pay) Planned obsolescence ( in fashion and technical products) Too much of Choices

Critics of Marketing
Name Ralph Nader Rachel Carson Vance Packard John Kenneth Galbraith Naomi Klein Profession Activist Naturalist Business Critic Professor and Diplomat Social Critic Book Unsafe at any speed Silent Spring The Hidden Persuaders The Affluent Society No Logo

Many critics have said that instead of spending huge money on advertising, marketer should put those money on the process of product development.

Best Marketers according to Philip Kotler:

Name
Ingvar Kampred Richard Branson Walt Disney Herb Kelleher Anita Roddick Bill Gates Steve Jobs Jeff Bezos

Company
IKEA Virgin Walt Disney South west airlines The Body Shop Microsoft Apple Amazon.com

Mission & Vission


Make Stylish Furniture Affordable Bring Excitement in Boring Create Magical World for Family Make Flying Possible for many People Embed Social Activism in Business Realize Ubiquitous Computing Transform How People Enjoy Technology Provide the biggest selection of knowledge delivered conveniently

Dr. Kotler focused on Value Based Marketing


He discussed following factors which can be delivered from value based marketing: They align the interests of all stake holders. The executives salary are relatively modest They operate an open door policy to reach top management. Their employee compensation and benefits are high for the category, their employee training is long and their employee turnover is low. They hire people who are passionate about the customers They view suppliers as a true partner who collaborate in improving productivity, quality and lowering costs. They belief that their corporate culture is their greatest asset.

Dr Kotler ended his session by answering few of the questions by the participants. He also delivered his thanks to the listeners for their active participation.

Up -Coming Book Of Philip Kotler

Idea Behind The Book

Difference Between Versions of Marketing

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New Models Developed by Philip Kotler

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