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Philip Kotler Discusses Marketing

posted May 15, 2015, 5:32 PM by Brendan Tuppack   [ updated May 16, 2015, 7:21 PM ]

Source: Chicago Humanities Festival

Some time ago, I was speaking with a group of young people about marketing and at the time I wished I had a video which was both entertaining and informative. Well as it happens, yesterday I was trawling the internet and I stumbled across this video of Philip Kotler speaking at the Chicago Humanities Festival. I like it because Philip explains things in such simple language, whilst still providing enough information to be of interest to those more experienced. He also defined two topics which I found very interesting. I've transcribed these for you in case you're interested.

Click HERE to watch the video on YouTube.

What is the Expected Role of a Chief Marketing Officer?

  • Represent the voice of the customer
  • Monitor the evolving business landscape and gather customer insights
  • Be the steward of the corporate brand
  • Upgrade marketing technology and skills in the company
  • Bring insight into the corporate portfolio and synergies
  • Measure and account for marketing financial performance

Characteristics of Firms of Endearment

  • They align the interests of all stakeholder groups
  • The executive salaries are relatively modest
  • They operate an open door policy to reach top management
  • Their employee compensation and benefits are high for the category; their employee training is longer; and their employee turnover is lower
  • They hire people who are passionate about customers
  • They view suppliers as true partners who collaborate in improving productivity and quality and lowering costs
  • They believe that their corporate culture is their greatest asset and primary source of competitive advantage
  • Their marketing costs are much lower than their peers while customer satisfaction and retention is much higher

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