Philip Kotler Presentation - NYAMA Marketing Hall of Fame
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Dr. Kotler gave an expansive talk that traced the origins of modern marketing and implications for the future in his presentation at the 2014 Marketing Hall of Fame Induction Ceremony, May 28th, NYC.
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Philip Kotler Presentation - NYAMA Marketing Hall of Fame
- 1. PHILIP KOTLER, Ph.D KELLOGG SCHOOL OF MANAGEMENT NORTHWESTERN UNIVERSITY MAY 28, 2014 NEW YORK CITY THE FUTURE OF MARKETING
- 2. MY BACKGROUND 1950-53 Milton Friedman University of Chicago 1953-56 Paul Samuelson & Robert Solow MIT
- 3. Frank Bass, Robert Buzzell, William Lazer Jerry McCarthy and Ed Pessemier (not pictured) THE FORD FOUNDATION PROGRAM, 1960
- 4. PROBLEMS WITH ECONOMIC THEORY • Classical economic theory focuses on price. It fails to take into account major forces that affect market behavior and market institutions, namely the impact of marketing channels, advertising, sales force, and sales promotion on demand and supply. • Classical economic theory assumes rational maximizing behavior on the part of consumers, middlemen, and producers. • The new economics is now called behavioral economics. The Nobel Prize in Economic Science recognized Kahneman and Tversky, two psychologists, for their work on economic irrationality. Behavioral economics is another word for Marketing! For 100 years marketers have been enriching economic theory without gaining any recognition from economists.
- 5. EARLY KOTLER MARKETING BOOKS 1. Marketing Management 1967. Based on economic theory, social-psychology theory, organizational theory, and mathematical theory. 2. Marketing Decision Making 1971. Sales response theory, carryover effects, multiple territories, multiple products, joint marketing and production planning, multiple goals, uncertainty.
- 6. THE BROADENING OF MARKETING • Commercial marketing • Place marketing • Person marketing • Social marketing • Political marketing
- 7. MARKETING FOR NONPROFIT ORGANIZATIONS Professor Alan Andreasen Georgetown University
- 8. SOCIAL MARKETING Jerry Zaltman Nancy Lee
- 10. VALUES-BASED MATRIX (VBM) MODEL INDIVIDUAL COMPANY Mind Heart Spirit Deliver SATISFACTION Realize ASPIRATION Practise COMPASSION Profit Ability Return Ability Sustain Ability Be BETTER DIFFERENTIATE Make a DIFFERENCE MISSION (Why) VISION (What) VALUES (How)
- 11. VALUES-BASED MATRIX OF S.C. JOHNSON
- 12. POSTWAR SOARING TURBULENT UNCERTAIN ONE-TO-ONE FINANCIALLY-DRIVEN1950s 1960s 1970s 1980s 1990s 2000s • The Marketing Mix • Product Life Cycle • Brand Image • Market Segmentation • The Marketing Concept • The Marketing Audit • The Four Ps • Marketing Myopia • Lifestyle Marketing • The Broadened Concept of Marketing • Targeting • Positioning • Strategic Marketing • Service Marketing • Social Marketing • Societal Marketing • Macro-marketing • Marketing Warfare • Global Marketing • Local Marketing • Mega-marketing • Direct Marketing • Customer Relationship Marketing • Internal Marketing • Emotional Marketing • Experiential Marketing • Internet and e- business Marketing • Sponsorship Marketing • Marketing Ethics • ROMI Marketing • Brand Equity Marketing • Customer Equity Marketing • Social Responsibility Marketing • Consumer Empowerment • Social Media Marketing • Tribalism • Authenticity Marketing • Co-creation Marketing • Crowdsourcing Marketing THE EVOLUTION OF MARKETING CONCEPTS
- 13. THE PROBLEM: PROFITABLE GROWTH
- 14. “THIS TIME LIKE ALL TIMES IS A GOOD ONE, IF WE BUT KNOW WHAT TO DO WITH IT.” RALPH WALDO EMERSON