Philip Kotler Marketing Tips That You Need To Memorize
If you are involved in marketing and you did not read anything by Philip Kotler, it is time to change this. Born in 1931, Kotler is the other of over 55 well received marketing books that basically talk about strategic marketing. According to the marketing specialist, strategic marketing serves as a link between a society’s industrial response pattern and needs.
While it would take a lot of time to talk about all the great marketing tips that Philip Kotler showcased during the years, we should highlight some that are really important, especially for beginners. We are confident in saying that the Philip Kotler marketing tips that you will read below will help you.
“Too often, business leaders confuse high Growth with high performance. They may take unwise risks in their businesses to maximize short or mid-term profitability…”
This is definitely a huge problem with inexperienced marketers. Too often then see that there is some success and they do everything that they can in order to basically take advantage of the boom that appears. What happens after it is gone? If you do not think about the long term gains as a marketing specialist, it is a guarantee that the business promoted will not meet its potential.
“It is more important to do what is strategically right than what is immediately profitable.”
If you have a long term marketing strategy, stick to it. This is definitely the best thing that you can do. Never get derailed by the profit that you make right now and you will notice that in the future, your profits will be higher.
“Companies worry too much about the cost of doing something. They should worry about the cost of not doing it.”
How often did you have a great idea and you did not manage to implement it because a company manager said that the costs are too high? Unfortunately, this happens a lot in the business environment. When you come up with something innovative, it is a really smart idea to focus on what you might miss out on if you were not to use that strategy you figured out because of associated costs.
“Who should ultimately design the product? The customer, of course.”
Marketing specialists and business managers in general need to take good care of the customers that they have and the customers that may appear in the future. A failure to take your customers into account will lead to failure. Your product or service needs to be well tailored for the customer that will eventually spend the money.
“The best advertising is done by satisfied customers.”
And, to be fair, it does not cost anything. This quote is particularly important in today’s economic environment since the internet makes it really easy for anyone to share opinions and experiences. If a customer is truly satisfied by your product, there is a huge possibility that he/she will recommend it in the future.
What is your favorite Philip Kotler quote? Do you think those mentioned above are great for marketers? If so, join the conversation below and make sure that you read some of his books. You will be enlightened.