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Gurus On Marketing

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At the feet of Philip Kotler:<br />

Lessons learnt:<br />

• The guiding principle in marketing is consumer value.<br />

• <strong>Marketing</strong> is based on the process of exchange.<br />

• This process incorporates socio-economic and managerial<br />

perspectives.<br />

• <strong>Marketing</strong> affects all types of organisations – for-profit and<br />

not-for-profit organisations.<br />

• To achieve success, organisations have to respond to changes<br />

in the external environment.<br />

• Such responses necessitate preparation of a strategic plan.<br />

• The strategic plan should be followed by marketing planning.<br />

• The marketing plan should pay attention to marketing mix.<br />

• Segment your market. Make sure the segments are substantial,<br />

measurable, accessible and actionable.<br />

• Consider the nature of your product and service.<br />

FIVE PHILIP KOTLER 87

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