Introducing Marketing Strategist Philip Kotler.
This video was part of a talk given by marketing strategist Professor Philip Kotler to the London Business Forum.
Professor Kotler begins his talk by inventing an acronym on the spot: CCDVTP.
He defines that to mean:
Create, Communicate, Deliver Value to a Target market at a Profit.
Now a business is really involved in three businesses--product management, brand management and customer management
- Product management used to take place all your company. Following engineering an idea, you made things and asked sales to get rid of them. Product management now takes place inside and outside of the company—open innovation
- Brand management used to mean packaging, name, logo. Now it is what business is all about. Brand management inspires everything you do. This is a new direction. In the past brand management was just mind share and heart share, now brand management includes spirit share. Businesses show that they are more than just concerned about their own interest. They show that they care for rest of world-corporate responsibility.
- Customer management is not just keeping a data base of customer, even with email and direct mail. No, now getting to know customers and know them beyond data base. Asking customers help to co-create products and advertising.
Professor Kotler ends by saying, "This is a radical change in marketing."
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Information on Philip Kotler:
Philip Kotler is the S.C. Johnson & Son Professor of International Marketing at the Kellogg School of Management, Northwestern University, Evanston, Illinois.
He received his Master’s Degree at the University of Chicago and his PhD Degree at MIT, both in economics. He did post-doctoral work in mathematics at Harvard University and in behavioral science at the University of Chicago.
Professor Kotler is the author of: Marketing Management: Analysis, Planning, Implementation and Control, the most widely used marketing book in graduate business schools worldwide; Principles of Marketing; Marketing Models; Strategic Marketing for Nonprofit Organizations; The New Competition; High Visibility; Social Marketing; Marketing Places; Marketing for Congregations; Marketing for Hospitality and Tourism; The Marketing of Nations;Kotler on Marketing, Building Global Biobrands, Attracting Investors, Ten Deadly Marketing Sins, Marketing Moves, and Marketing Insights from A to Z. He has published over one hundred articles in leading journals, several of which have received best-article awards.