Topmost Marketing Strategies by Philip Kotler
If you are interested or involved in the field of marketing then you must be well aware of Philip Kotler. He is a popular marketing strategist who was born in 1931 and has written over 55 books on the subject of marketing books. According to him, strategic marketing can help serve as the much needed link between the industrial response pattern and the needs of society. In this article, we are going to discuss some of the topmost marketing strategies from Philip Kotler. Let’s get started!
Keep in mind the Long Term Strategy
Business leaders often tend to confuse the terms of high growth with high performance. Thus, sometimes they end up taking unwise risks to maximize profitability in the short or mid-term only. This is a big problem when it comes to the newbie or inexperienced marketers. Too often, they always try to do whatever they can to take advantage of a short term strategy that can provide some amount of success. But what tends to happen after that strategy is gone or doesn’t happen to work anymore? As a good marketer, you must always be aware of the long term strategy and what you will gain out of sticking to it.
Don’t Run After Quick Profits and Focus on Doing the Right Thing
Like we mentioned above, you must be able to stick to a long term marketing strategy if you have one. This is probably one of the best decisions that you can take. As a strategist, your eyes, at all times, must be set in the future. Never let you or your team get derailed by the profit that you make from short term strategies. Focusing on quick profits will lead your organization towards nothing but a quick death!
Don’t Hold Back on a Good Idea Because of the Costs Involved
Oftentimes, it is observed that good ideas get shot down because they might involve higher than expected costs. When you happen to come up with something innovative, try to think about what you might miss out on if you do not implement it rather than focusing on the costs. This will help you out a great deal in the long run.
Let Your Customer Design the Aspects of Your Product or Service
In general, marketing specialists and business managers always need to pay a great deal of attention to customers. A failure to taking good care of your customers will ultimately lead to a complete failure in business as well. Your product or service always needs to be tailored for the target customer you have in mind who will eventually spend the money.
Satisfied Customers Do the Best Advertising
In today’s economic environment wherein everyone can easily get on various social media platforms and simply share their opinions and experiences, your product or service must be very satisfactory. If your customer happens to be truly satisfied after using the offerings of your company then it is highly likely that he or she will recommend it to others in the future. Thus, satisfied customers always are the best form of advertisement.
This brings us to the end of our discussion on the topmost marketing strategies of Philip Kotler. Now, do let us know some of your personal opinions on the same.