Pan-Pacific Conference XXXIV. Designing New Business Models in Developing Economies

product: its focus is on the needs of customers and
its position relative to their purchase criteria. Third,
the pace and evolution of markets are driven by
customers’ shifting purchase criteria rather than by
improvements in products or technology (Dawar,
2013).
Rather than strengthening upstream marketing
activities, Customer-centric companies choose to go
downstream. The focus is on the following four
core activities - Get; Keep; Grow and Win-Back
back lost customers
Marketing 3.0
As economies grow and societies develop even
further, questions are raised as to whether the pure
marketing orientation has ignored the potential gap
between customer short-run wants and their longterm
welfare. Hence a new concept evolved - the
societal marketing concept which strives to deliver
value to customers in a way that improves both the
customer’s and society’s well-being. This calls for
responsible and sustainable marketing (Kotler,
Kartajaya and Hooi, 2017).
Such thinking sheds light on other aspects of
businesses, including entrepreneurship.
As what Nobel Laureate Muhammad Yunus said,
“Business is a very beautiful mechanism to solve
problems, but we never use it for that purpose. We
only use it to make money. It satisfies our selfish
interest but not our collective interest.”
Hence as ironical as it may sound, we advocate that
Purpose and Principles more than Profits power
deeper Passion and greater Perseverance.
Especially in a much more enlightened world, all
marketers need to take cognizance of the need not
only to capture a customer’s mind, market and heart
share but to do it in the true human spirit of caring
not just for the consumer’s needs, wants, aspirations
and anxieties but also the larger societal and human
spirit interests.
At the same time while such individual social
consciousness grow, other aspects of the business
landscape is changing too such as in the economic,
political-legal, social-cultural, technological and
market and environmental landscapes. Marketing
should hence not just be customer-centric but
human-centric, in order to stay relevant and to take
cognizance of a much connected world. Hence
marketing has evolved from Marketing 1.0, 2.0 to
3.0. Champions of these include Bill Gates, founder
of Microsoft and the poster child of the corporate
philanthropy movement and Muhammad Yunus
who introduced a concept called "social business"
where a business is an investment that is aimed at
fulfilling some social objectives
In the context of the business world, a humancentric
perspective emerges as the concept that
offers a more systematic integration of social and
business objectives. It is a new perspective which
aims to deliver not only functional and emotional
value, but also a "spiritual" value. Table A
summarizes a comprehensive comparison of
Marketing 1.0, 2.0, and 3.0.
Marketing 1.0
Product-centric Marketing
Marketing 2.0
Customer-centric
Marketing
Marketing 3.0
Human-centric Marketing
Objective Sell products Satisfy and retain the
consumers
Make the world a better
place
Enabling forces
Industrial revolution
Information technology
New Wave Technology
How companies see the
market
Mass buyers with
physical needs
Smarter consumers with
mind and heart
Whole human beings
with mind, heart and spirit
Key marketing concept
Product development
Differentiation
Values
Company marketing
Product specification
Corporate and product
Corporate mission, vision
guidelines
positioning
and values
Value propositions
Functional
Functional and emotional
Functional, emotional and
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