Ovidiu Podariu's Key Ideas from Kotler On Marketing
by Philip Kotler
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Marketing
Marketing is the art of identifying and fulfilling consumer needs.
All kinds of organizations face marketing problems:
- Corporations fight for market share and revenue
- Universities compete for students
- Politicians cultivate their public image to get votes
- Cultural institutions want to attract more visitors
All organizations want to attract resources from the public, such as: money, interest, engagement, votes etc. The challenge is figuring out how to persuade people to hand them over.
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Marketing types
- Responsive marketing -- it's about identifying and fulfilling pre-existing needs.
- Anticipative marketing -- it's about recognizing trends in society and building products that fulfill newly emerging needs.
- Need-shaping marketing -- it's about creating needs that don't exist yet. This requires large investments in innovation and development.
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5-step marketing method
This method is based on offering people some perceived value in return for their resources.
Steps:
- Research market opportunities
- Choose a target market
- Decide on a unique positioning
- Implement marketing tactics
- Evaluate the results
These steps form a circular process that can be repeated to adapt to new market conditions.
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Make a plan
Creating a marketing plan is critical for the success of any company. The plan doubles as an alignment tool because it enables managers to brainstorm ideas and communicate shared visions and goals with one another.
What to include in the plan:
- Summary of the current situation of the company and the market
- Marketing objectives for the year
- Chosen marketing strategy
- Action plan
- Methods for evaluation
Make the plan clear and concise. Keep it under one page so everyone in the company can read it.
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IDEAS CURATED BY
Curious about different takes? Check out our Kotler On Marketing Summary book page to explore multiple unique summaries written by Deepstash users.
Ovidiu Podariu's ideas are part of this journey:
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