- 03 March 2017
- Training events
Simplifying, the classic model of traditional marketing recited three stages of the buying process: Stage 1: Stimulation through communication. Phase 2: Purchase. Phase 3: Use or Experience.
Philip Kotler was the first to define the foundations of modern marketing by adapting theories and strategies as the market changes. From the product orientation to the customer orientation that characterized much of the studies of the 1980s to project to the futuristic and current vision ofmarketing 3.0.
Kotler recently introduced the principles of the new marketing starting from the observation that the "old" concept of mass marketing will not disappear but cannot compete with the level of segmentation of the new one that strikes with great detail, almost at the individual level.
No company in order to survive will be able to escape the confrontation with the digital scenario so much so that experts are pushing a more radical statement: "If you are not a digital company you are out of the market."
Digital commands every action a forces us to a global view of the world that fosters business relationships unthinkable only 10 years ago between distant and unconnected countries. Globalization increases levels of competition and accelerates the average life cycles of products and thus of the same companies that are subject to greater commercial risk.
In this context, an entrepreneur cannot exempt himself from getting to know his company and learning to evaluate it in individual processes that will have to be constantly revised as a function of increasingly abrupt transformations in the environment in which he operates and the corresponding competitive arrangements.
Make its distribution and sales force more effective by adapting it to new marketing strategies. Aim for social responsibility and the environment factors increasingly shared and experienced by generation Z, i.e., future consumers.
The company will not be able to ignore riding market trends and business by seeking new opportunities and making use of new digital media.
If the use of these channels is mandatory for start-ups, which need to keep the costs of launching new products low, it also becomes a priority for companies that intend to position themselves in new market segments that traditional marketing is unable to reach: Therefore, know your customers and take advantage of social channels.
In conclusion, Kotler's famous 4 P's Price, Product, Placement and Promotion, become 3: People, Planet and Profit. And they are transformed.
People should be approached as a dichotomy meaning not only consumers but also employees who, at the end of their workday, become customers. In an age where it is customers who buy and not companies that sell, it seems that decisions are increasingly influenced by the values that companies will be able to convey both externally and within their own organizations. Factors such as the environment also understood as the quality of work and the business environment come into play.
The second P of Planet is a completely new interpretation for generation X, debated in generation Y who are discussing changes in our planet but very much ingrained in generation Z who will make it a substantial element of their purchasing decision.
Attention to resources and changes in the planet not only as a promotional slogan but as an indicator of business choices toward companies that will most consistently manifest these values.
Profit's third P seems an obvious element of marketing related to the sustainability of corporate business, but it should be read in a new key of convergence between marketing and financial issues. Modern technologies allow the collection of an impressive amount of data, however, which must be read and interpreted. The topic of big-data is one of the most topical in the automotive industry.