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Marketing 3.0
From Products to Customers to the Human Spirit
Marketing 3.0 is a handbook to the marketing strategies of tomorrow. These blinks explain how old tactics have grown outdated as people search for meaning in their lives and the companies that can provide it. Read on to learn how you can adapt your marketing strategy to the changing nature of consumer preferences.
- Entrepreneurs who are interested in the newest marketing strategies
- Business leaders curious about how companies can respond to new business trends
- Any CEO, marketer or investor
Professor Philip Kotler is a former director of the American Marketing Association and is known as one of modern marketing’s founding fathers. He teaches international marketing at the Kellogg School of Management at Northwestern University.
Hermawan Kartajaya is president of the World Marketing Association.. He has published five books with Philip Kotler and is the founder of MarkPlus Inc., a marketing consulting agency active in Southeast Asia.
Iwan Setiawan is Chief Knowledge Officer at MarkPlus, Inc.
Philip Kotler, Hermawan Kartajaya, Iwan Setiawan: Marketing 3.0 copyright 2010, John Wiley & Sons Inc. Used by permission of John Wiley & Sons Inc. and shall not be made available to any unauthorized third parties.
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Marketing 3.0
From Products to Customers to the Human Spirit
- Read in 13 minutes
- Audio & text available
- Contains 8 key ideas
Synopsis
Marketing 3.0 is a handbook to the marketing strategies of tomorrow. These blinks explain how old tactics have grown outdated as people search for meaning in their lives and the companies that can provide it. Read on to learn how you can adapt your marketing strategy to the changing nature of consumer preferences.
Key idea 1 of 8
Advertising was transformed when consumers began participating in the design process.
Remember the ‘80s? Back then, our relationship with entertainment media was different than it is today. It was something you passively consumed. Especially with activities like watching TV, the only “active” part usually involved snacking on some peanuts or popcorn.
In those days, the distinction between the media and the masses was clear-cut, which made marketing a breeze. Marketers just had to explain how great their product was, and people would listen.
But things are different these days.
Widely accessible technologies have transformed media sources into networks of exchange. People don’t sit idly by and consume their news, ideas and entertainment. Instead, they actively create them, marking our time as the age of participation.
Two main factors account for this shift: first, technologies have emerged that allow us to connect and interact with others quickly and easily; second, these technologies have become much cheaper with the growth of open source sites. As a result, practically everybody can afford to participate.
Especially through social media, the internet has transformed participation. But social media can itself be broken down into two categories.
The first is called expressive social media and includes blogs, Facebook, Youtube, Twitter and other channels through which people share their personal views. The second is collaborative social media, which uses open sourcing, meaning it can be developed and changed by almost anyone. A well-known example is Wikipedia.
The rise of social media in general has also transformed advertising. Consumers now tend to trust the people in their social networks more than advertisers.
As a result, classic advertising methods are losing influence and more companies are focusing on social media. In fact, collaborative social media has opened up new ways to win over customers because it allows consumers to develop products using shared platforms provided by companies.
For instance, through its open innovation program, Connect + Develop, Procter & Gamble enlists its customer base in the product design process.
Key ideas in this title
- Advertising was transformed when consumers began participating in the design process.
- Creative people are shaping society and companies should attend to their needs.
- Modern marketing embraces everything that makes us human.
- A company can demonstrate its commitment by defining a mission, vision and values.
- Define a mission that transforms people’s lives and tell it with a gripping story.
- Authentic values help you attract stellar employees who will happily deliver your values to customers.
- There are economically sound reasons to adopt a sustainable vision and convince your shareholders of it.
- Final summary