Marketing guru — Philip Kotler

Marketing guru - Philip Kotler

Sergiy Kaystrenko, Olga Maslova

National technical university of Ukraine “Kyiv Polytechnic Institute”

 

Marketing is the process of communicating the value of a product or service to customers for the purpose of selling that product or service.

Marketing is the science of choosing target markets through market analysis and market segmentation, as well as understanding consumer buying behavior and providing superior customer value.

The set of engagements necessary for successful marketing management includes: capturing marketing insights, connecting with customers, building strong brands, shaping the market offerings, delivering and communicating value, creating long-term growth and developing marketing strategies and plans.

We can say that the main part of the marketing concept that is known nowadays was provided by Philip Kotler.

Philip Kotler was born on May 27, 1931in Chicago, Illinois in the family of the Russian-Ukrainian immigrants. He received a Master’s degree in Economics in University of Chicago and Ph.D. in the Massachusetts Institute of Technology. Moreover, he defended a dissertation on Mathematics in Harvard University.

Kotler has traveled extensively throughout Europe, Asia and South America, advising and lecturing many companies about how to apply sound economic and marketing science principles in order to increase their competitiveness. He has consulted for IBM, General Electric, AT&T, Honeywell, Bank of America, Merck and others in the areas of marketing strategy and planning, marketing organisation and international marketing. He has also advised governments on how to develop and position the skill sets and resources of their companies for global competition. [3]

Also he usually explains difficult things in simple terms that are understandable to a wider audience.

As an example – the famous question of Philip Kotler: “What do people buy, when they buy a drill?” When you buy a drill, you actually want to buy a hole in the wall. Some decades ago people used slide rules, which all the engineers had were completely unnecessary. It disappeared without a trace, as if they had never existed, when calculators appeared. The client never needed lines, they needed ability to calculate. When personal computers appeared, market typewriters failed, because in fact no one ever needed the latter as well. But we always needed the possibility to print what was written down. It’s all true from marketing’s point of view.[2]

Philip Kotler considers Marketing as a single process, which includes a number of mandatory principles and steps. But many companies act unsystematically: some people develop strategies, others – products, count the costs, and the marketing department is given a very narrow role — to sell and advertise. As a result, the company produces a product that isn’t sold well, and the marketing department has to remedy the situation through aggressive sales and advertisement. In addition, it often happens that the marketing and advertising department can’t cope with the sale and advertising, because people simply do not have enough knowledge and skills.

Professor Kotler has authored over 50 books on all aspects of marketing, including the most widely used marketing textbook in graduate business schools worldwide, now in its 14th edition. He has published more than 150 articles in leading journals, including the Harvard Business Review, Sloan Management Review, Journal of Marketing, Management Science and the Journal of Business Strategy. Marketing management is one of them.

His book “Marketing Management”, first published in 1967, is a classic textbook which has already run to more than a dozen editions. It applied rigorous analysis and mathematical methodology to the practice of marketing, something that had never been done before. Its influence over the past four decades has been monumental – even as the book itself has become ever more monumental (the 12th edition has over 800 pages). Gary Hamel said of it: “There are few MBA graduates alive who have not ploughed through Kotler’s encyclopedic textbook and have not benefited enormously from doing so…I can think of few other books…whose insights would be of more practical benefit to the average company.”

Philip Kotler is widely acknowledged as the father of modern marketing and the world’s foremost expert in strategic marketing. According to Kotler, in order to succeed in marketing you need to follow 7 commandments:

1) Segment the market. Choose segments the most suitable for you and occupy leading positions in them.

2) Keep track of needs, behaviors, preferences and experiences of consumers. Client is really important.

3) Investigate your competitors.

4) Establish partnerships with all stakeholders.

5) Develop a system for searching and selecting the most promising market opportunities.

6) Use the planning system, which will prepare equally effective long-term and short-term plans.

7) Maintain the strict quality control of your products and services.[1]

He was the first person to receive the «Leader in Marketing Thought» award voted on by the academic members of the American Marketing Association and called The Founder of Modern Marketing Management in the Handbook of Management Thinking. Professor Kotler holds major awards including the American Marketing Association’s (AMA) Distinguished Marketing Educator Award and Distinguished Educator Award from The Academy of Marketing Science. The Sales and Marketing Executives International (SMEI) named him Marketer of the Year and the American Marketing Association described him as “the most influential marketer of all time.”[4]

His popularity in the world of marketing is so great that many thoughts that he expressed at the public become aphorisms: “Today you have to run faster to stay in place”, “Sell value, not price”, “The best way to hold costumers is to constantly figure out how to give them more for less”, “Don’t buy market share. Figure out how to earn it”, “Poor firms ignore their competitors; average firms copy their competitors; wining firms lead their competitors”.[5]

Philip Kotler has made an invaluable contribution to the development of marketing. His works has become the foundation of the whole science and thanks to him we know marketing such as it exists.

 

References:

  1. http://bibo.kz/hochu-znat/672378-7-zapovedey-marketinga-po-filippu-kotleru.html
  2. http://protext.by/blog/o-kopirajtinge-vserez/koe-chto-o-drelyax-i-kolgotkax/
  3. http://www.peoples.ru/science/economy/philip_kotler/
  4. http://www.pkotler.org/biography/
  5. http://www.slideshare.net/bright9977/philip-kotlers-30-marketing-quotes

 

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