Gurus On Marketing

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‘Differentiation allows the firm to get a price premium based on the extra value perceived by and delivered to the customers.’ Differentiation can be based on product, services, personnel and image. Differentiation should be effectively communicated to the segments concerned. Once the decision on differentiation is made a company can then position itself in the market place and prepare its competitive strategies. Developing, testing and launching new products and services It is important for companies to review their existing products and to develop new products to meeting changing market needs. There are dangers of new products failing if the best analytical tools and concepts are not applied properly or the company has not put in place an effective organisation for managing the new products. According to Kotler the new product development process consists of the following stages: • Idea generation. • Idea screening. • Concept development and testing. • Marketing strategy development. • Business analysis. • Product development. • Market testing. • Commercialisation. 82 GURUS ON MARKETING
Team-oriented approach seems to be the best way some companies embark upon developing new products. Kotler then goes on to explain the way new product development should take place. He highlights various stages involved in innovation process and various techniques of product screening. Product life cycle Products have a limited life. They go through various stages from introduction stage to growth stage to maturity stage to decline stage. The product life cycle concept should be treated as a planning tool. ‘The product life cycle portrays distinct stages in the sales history of a product. Corresponding to these stages are distinct opportunities and problems with respect to marketing strategy and profit potential. By identifying the stage that a product is in, or may be headed toward, companies can formulate better marketing plans.’ Kotler then goes on to detail various marketing strategies associated with each stage of product life cycle. The rest of the book is devoted to designing marketing strategies for market leaders, challengers, Followers and Nichers; Designing strategies for the Global marketplace; Planning Marketing programmes and Organising, Implementing, and Controlling Marketing Effort. What is a product? One of the most popular marketing concepts Kotler puts forward is that of a product. He defines a product as anything that is offered to satisfy consumer need. In offering its product the marketer has to think in terms of five levels of a product. These are: 1 Core benefits: What benefits does the product offer. 2 Generic product: The overall product e.g. A car, a chair etc. 3 Expected product: What attributes buyers associate and expect from the product. FIVE PHILIP KOTLER 83
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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
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Brand extension Brand extension is
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Marketing strategy Marketing strate
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According to Warren J. Keegan 11 :
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L M N O P Q R S T U V Listen to you
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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 and 86: Porter’s key publications • ‘
Page 87 and 88: FIVE Philip Kotler Kotler on market
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: Micro perspective Kotler then moves
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
Page 137 and 138: • To create value for clients the
Page 139 and 140: At the feet of Jagdish Sheth: Lesso
Page 141 and 142: NINE Thomas T. Nagle Nagle on prici
Page 143 and 144: • Understanding price sensitivity
Page 145 and 146: 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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