Gurus On Marketing

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At the feet of Michael Porter: Lessons learnt • Competition is an aspect of marketing. • Strategy and competition are inter-related. • Strategy formulation involves a choice. • This choice involves differentiation, cost leadership and focus. • The rules of competition are governed by five forces. • Pay attention to the actions of competitors. • Understand your value chain and conduct value chain analysis. • Value chain reflects the organisation’s capabilities. • National conditions influence competitive advantage in internationally competitive industries. • Domestic rivalries put pressure on companies to look at global markets. 72 GURUS ON MARKETING
FIVE Philip Kotler Kotler on marketing management Philip Kotler is the world’s pre-eminent marketing guru. He is S. C. Johnson and Son Distinguished Professor of International Marketing at the J. L. Kellogg Graduate School of management, Northwestern University. He has published well over one hundred articles on marketing in the leading professional and academic journals and written various books on marketing including the most widely read book ‘Marketing Management: Analysis, Planning, Implementation, and control’ published by Prentice Hall International Inc. As a marketing guru and distinguished academic and writer he has popularised marketing as an academic subject. In this chapter we will explore various concepts and theories which were presented in his widely recommended book ‘Marketing Management: Analysis, Implementation, and Control’. This book covers at great length key marketing concepts, advice on how these concepts can be applied, key marketing tools, macro and micro perspectives of becoming market-oriented companies. At micro level it covers at great length the subject of segmentation, consumer behaviour, market positioning, product development, managing product life cycles, designing pricing strategies and so on. FIVE PHILIP KOTLER 73
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gurus on Marketing Sultan Kermally
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GURUS ON MARKETING SULTAN KERMALLY
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Dedication This book is dedicated t
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Acknowledgements This book would no
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About the author Sultan Kermally is
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Contents Introduction 1 The relatio
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SIX Tom Peters 89 Close to the cust
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Introduction Gurus are management t
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This book considers the following g
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Michael Porter Michael Porter is th
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Philip Kotler Philip Kotler is the
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Plan of the book The book begins by
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ONE The fundamentals of marketing T
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Kotler 3 then advocated the importa
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Characteristics of service They are
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• Consider the promotion budget.
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For example, if an organisation is
Page 35 and 36: Brand extension Brand extension is
Page 37 and 38: Marketing strategy Marketing strate
Page 39 and 40: According to Warren J. Keegan 11 :
Page 41 and 42: L M N O P Q R S T U V Listen to you
Page 43 and 44: TWO Peter Drucker Peter Drucker is
Page 45 and 46: The thinking was heavily influenced
Page 47 and 48: Where does Peter Drucker come in? S
Page 49 and 50: The customer as the decision-maker
Page 51 and 52: What do marketing gurus and writers
Page 53 and 54: Writers on marketing since Drucker
Page 55 and 56: Some organisations now use very sop
Page 57 and 58: THREE Theodore Levitt On marketing
Page 59 and 60: He put forward four conditions whic
Page 61 and 62: Marketing Myopia was a landmark art
Page 63 and 64: Decline After the maturity stage wh
Page 65 and 66: Nariman Dhalla and Sonia Yuspeh in
Page 67 and 68: Technological advances have resulte
Page 69 and 70: This was Professor Levitt’s semin
Page 71 and 72: FOUR Michael Porter Michael Porter
Page 73 and 74: 4 the bargaining power of buyers, 5
Page 75 and 76: ‘A market signal is any action by
Page 77 and 78: Criticisms of Porter’s Five Force
Page 79 and 80: in the buyer’s value chain, which
Page 81 and 82: A differentiation strategy This str
Page 83 and 84: Factors which are likely to make a
Page 85: Porter’s key publications • ‘
Page 89 and 90: Marketing therefore is a process of
Page 91 and 92: and there is no further contact. Th
Page 93 and 94: The marketing plan should pay parti
Page 95 and 96: Micro perspective Kotler then moves
Page 97 and 98: Team-oriented approach seems to be
Page 99 and 100: Kotler’s perspective on strategic
Page 101 and 102: At the feet of Philip Kotler: Lesso
Page 103 and 104: SIX Tom Peters In terms of ‘guru
Page 105 and 106: Peters and Waterman highlight the f
Page 107 and 108: Closing remarks: A controversy ‘W
Page 109 and 110: The emphasis is on applying technol
Page 111 and 112: The pursuit of WOW! • Every job h
Page 113 and 114: • Invite customers to visit any f
Page 115 and 116: tices. The patient generally gets w
Page 117 and 118: Peter’s key publications • Pete
Page 119 and 120: SEVEN George Day George day is Geof
Page 121 and 122: These strategies are similar to Por
Page 123 and 124: You cannot take an internally focus
Page 125 and 126: KNOWLEDGE@WHARTON Isn’t Ford’s
Page 127 and 128: ings. These included the high value
Page 129 and 130: Configuration perspective Day found
Page 131 and 132: He has published extensively in var
Page 133 and 134: EIGHT Jagdish Sheth Dr. Jagdish She
Page 135 and 136: Various studies reinforce the point
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• To create value for clients the
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At the feet of Jagdish Sheth: Lesso
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NINE Thomas T. Nagle Nagle on prici
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• Understanding price sensitivity
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At the feet of Thomas Nagle: Lesson
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TEN Gurus and strategic analytical
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Existing product/new market Here th
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Low growth/high share The strategic
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General Electric Strategic Planning
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Shell Directional Policy Matrix She
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Opportunities In scanning the exter
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The STEP analysis (sometimes known
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STEP factors influence significantl
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Benchmarking According to Philip Ko
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ELEVEN Further information Suggeste
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• Porter, Michael. ‘Competitive
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14 Drucker, Peter, ‘Innovation an
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Blank
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Thorogood publishing Thorogood publ
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Other titles The John Adair handboo
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