The second half of the article takes a turn for the better as Kotler answers specific questions concerning how to achieve marketing success in these turbulent times. His answers can be categorized as follows:
1. In-depth market research
2. Database-focused analytics
3. Product research
4. Proper budgeting
All four are great ways to improve marketing in these tough times, but Kotler hasn’t re-invented the wheel here. He’s repeating what others, himself included, have been saying for years; marketing is changing more rapidly that ever, and savvy marketers need to change their outlook on the world, focusing more on customer needs than on their own.
Tips, ideas and tricks for integrating marketing and communications into your business plan to help you make money, despite the state of the economy!
Showing posts with label Philip Kotler. Show all posts
Showing posts with label Philip Kotler. Show all posts
Sunday, July 19, 2009
Friday, July 17, 2009
Comments on Chaotics - Part 1
Philip Kotler, the marketing “expert” everyone seems to look to for inspiration, has written yet another book to garner praise for stating the obvious. This one, entitled, Chaotics: The Business of Managing and Marketing in The Age of Turbulence, centers around two forces that are driving the rapid changes in business today: globalization and technology.
In my opinion, this book is about five years too late, and will only be useful to C-level executives that have their heads so far up their own, or their CEOs’, rear ends that they can’t see what’s been developing over the past half decade.
These ideas can also be helpful, I suppose, to people who are new to the work force and have no clue how to form their own thoughts based on their surroundings.
I haven’t read the book yet – I probably won’t read it anyway – but from the interview Mr. Kotler gave in Deliver magazine, he seems confused. In the first part of the interview, he states that Chaotics isn’t about the current recession, but instead about the previously mentioned two forces (technology and globalization) that have increased the speed at which circumstances change in the current business environment. Then, in the very next question, he mentions technology again, but includes three MORE forces that can affect a company: social change, legal change and economic change. That’s now a total of FIVE forces that must be monitored.
In answering the next question, Kotler talks about Chaotics’ description of the current recessionary economics and how customers are responding to it. I hate to say it, but this story is nothing new. Since the great depression, there have been 12 recessions. In each one, people have responded by buying lower priced items, postponing big-ticket purchases and spending less on things like fuel and eating out. Customers’ reactions to tough times can really be boiled down to ONE thing: looking for ways to SAVE MONEY.
In my opinion, this book is about five years too late, and will only be useful to C-level executives that have their heads so far up their own, or their CEOs’, rear ends that they can’t see what’s been developing over the past half decade.
These ideas can also be helpful, I suppose, to people who are new to the work force and have no clue how to form their own thoughts based on their surroundings.
I haven’t read the book yet – I probably won’t read it anyway – but from the interview Mr. Kotler gave in Deliver magazine, he seems confused. In the first part of the interview, he states that Chaotics isn’t about the current recession, but instead about the previously mentioned two forces (technology and globalization) that have increased the speed at which circumstances change in the current business environment. Then, in the very next question, he mentions technology again, but includes three MORE forces that can affect a company: social change, legal change and economic change. That’s now a total of FIVE forces that must be monitored.
In answering the next question, Kotler talks about Chaotics’ description of the current recessionary economics and how customers are responding to it. I hate to say it, but this story is nothing new. Since the great depression, there have been 12 recessions. In each one, people have responded by buying lower priced items, postponing big-ticket purchases and spending less on things like fuel and eating out. Customers’ reactions to tough times can really be boiled down to ONE thing: looking for ways to SAVE MONEY.
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