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.
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