Marketing Tips by Philip Kotler

MARKETING TIPS BY PHILIP KOTLER

1. Many companies still use the practice of mass advertising do you think mass advertising is effective and if not what are the drawbacks?

 According to the Philip Kotler mass advertising is lost great deal of effectiveness. He explains that they are mass markets they will continue in clothing, food, and so on. They used to be able to reach mass markets very effectively through television and print media. Print media plays a major role in order to reach a person in new ways.

He also states that now people are busy with their lifestyle by listening music, T.V, and aerobic. They are not remembering the commercial break advertisements.

1. When do you have marketable services or product what strategies can we use to determine if a product and service is really marketable?

He says that we go through new product development which with 6 or 8 stages we called as stage gate system to kill bad new ideas as soon as possible or let a good new idea go through the process remembering the cost of developing new product increases that you get later stages so we really want to screen out bad ideas.

So that he use the focus groups by 8 to 10 members to talk about the new idea.

He says that focus groups are positive

• More depth interviewing one on one  
• Go through of survey work
• Product is marketable is that there a real value proposition it clear it’s distinctive it’s compelling.

1. What are the key ingredients in a good marketing plan but some typical red flags may incite a marketing plan not going to work?

Philip Kotler explains the following objectives in marketing plan

• Feasible
• Clear and compelling strategy.
• Distribution
• Price should be specific.

         Kotler explains the following are reasons for product failure

• Meaningful value proposition.
• Price was too high
• The market didn’t understand product

1. What are the mistakes that companies make in marketing their products and services?

According to the Philip Kotler the companies make in marketing their products and services

• Not compelling value preposition
• Mistargeted, no right segment
• Price is too high
• Positioning of the product
• Failure in segmenting, targeting, and positioning.
• One of 4P’s

1. What are most intriguing theories of marketing that have recently to come your attention?

Kotler explains the following theories he come across recently

• Paid for banding, brand positioning called brand asset management.
• Customer equity.
• Brand equity.
• Customization
• Personalisation
• Experiential marketing.
• Integrated marketing communication (IMC)

1. Can you briefly describe customer relationship management, benfits and drawbacks?

In the video Kotler explains the following benfits and drawbacks of the CMR

• We should have each person in segment at least age, income etc.
• Gathering all that information
• Hardware and software
• Updated information.

“CRM is not worthwhile for a number of companies and types of companies”

The following are the failures

• Only as technology and they did not set themselves up as a customer centred companies
• Hardware and software problem.
• No right information

1. What marketing advantages in internet offer that other media do not provide?

According to the Kotler the following are the advantages of the internet offer

• The information is highway
• Chat rooms
• Setup customer panel and dealer panel
• Use internet sample people where you might make the kind of product i.e., not costing too much
• Offering coupons
• Many companies at the very least need a good web pages.
• Often raised will the internet serves as an advertisement medium in the failure to comparable to tv an 30 sec commercial advertisement.
• It helps company send information and read information about other using it.

1. What is the greatest change the internet will bring to marketers over the next decade and how can companies take advantage of these benefits?