marketing defined
DESCRIPTION
Marketing Definition by Kotler in London School of Business.TRANSCRIPT
Marketing Defined
ByNeha BhardwajPGDM-IMT-G
What is Marketing
CCDVTP – By Kotler Create, Communicate and Deliver the Value To a Target Market by Creating Profits
Create, Communicate and Deliver
Create – Product Management Communicate – Brand Management Deliver – Customer Management
Change in Product Management
Conventionally, Product Management was about creating a product using internal team.
Today, companies are connected with scientists outside the company as well for product management. (Open innovation)
Example: Procter and Gamble adopted cookie maker from Italy to create face like shapes for their product – Pringle.
Change in Brand Management
Conventionally, Brand was about a logo, name and packaging. (Mind Share and Heart Share)
Today, it is a promise. Now, a brand seeks Spirit Share of the customers.
Change in Customer Management
Conventionally, it was about maintaining a database of customers.
Today, customer management involves aspects of co-creation.
Example – Creating advertisements with the help of customers.
Source:https://www.youtube.com/watch?v=bilOOPuAvTY