This is episode 5 of BIZBUZZ.
I stimulate conversations that challenge business owners to consider new possibilities and to Act Boldly. The following video highlights the comments from Phil Kotler that made the greatest impact on me in his book Marketing Insights from A to Z.
Hi, I’m Gary Brown a FocalPoint business coach.
Welcome to BIZBUZZ.
I’ve chosen to comment on Marketing Insights from A to Z, a book written by Phil Kotler, a well-known marketing expert. Not surprisingly, the book deals with marketing material and it contains a number of amusing anecdotes.
I’ve got three insights that interest me.
The first is don’t limit your search for opportunities by starting with a consideration of your existing assets and resources. Look outside your company for opportunities and then see if you have or can attract the needed resources and competencies to pursue the identified opportunities.
My next take-away is a quote from Phil Kotler. He says the following: “don’t just talk about opportunities. Success happens when preparation meets opportunity”. Anyone who relies on good luck to be successful runs the risk of missing the boat. Some time spent thinking about how to prepare would be time well spent.
My final comment deals with Kotler’s assertion that relationship marketing will determine the future value of the firm. Relationship marketing has four characteristics, which are:
– focus on customers and partners rather than products
– put more emphasis on customer retention and growth rather than customer acquisition
– use cross-functional teams rather than department level teams
– rely more on listening and learning rather than talking
It seems that relationship marketing would likely increase the exposure to the opportunities that Kotler is encouraging us to seek.
That’s it for Marketing Insights from A to Z.
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Your comments are always welcome.
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