Lecture on Marketing 3.0 by Philip Kotler

Introduction

• Philip Kotler is a renowned expert in the field of marketing.
• Discusses his new book on Marketing 3.0.

Overview of Marketing Versions

• Marketing 1.0
  • Companies focus on efficiency and profitability.
  • Appeals to the customer's mind.
• Marketing 2.0
  • Involves understanding customers through databases.
  • Appeals to the customer's heart.
• Marketing 3.0
  • Focuses on understanding larger societal issues.
  • Companies show they care about the planet and societal concerns.

Key Concepts in Marketing

• Positioning

  • Differentiating from competitors through unique offerings.
  • Example: Starbucks offers a unique coffee experience.

• Segmentation

  • Recognizing and targeting different customer segments.
  • Example: McDonald's QSCV (Quality, Service, Cleanliness, Value) tailored to different audiences.

Marketing 3.0 Enhancements

• Incorporates caring for society and the planet as additional dimensions.
• Must build on the foundations of 1.0 and 2.0.

The Marketing Mix (Four Ps)

• Product, Price, Place, Promotion remain relevant.
• Addition of co-creation with customers in the 3.0 framework.

Co-Creation Examples

• Promotion

  • Example: Doritos used crowdsourcing for ad campaigns.

• Product

  • Example: B2B companies use alpha and beta testing with lead users.

• Price

  • Concept of letting customers decide the price, though not widespread.

• Place (Distribution)

  • Middlemen like Walmart influence product packaging and design.

Conclusion

• Successful companies engage in co-creation and crowdsourcing.
• Importance of integrating customer input into all aspects of the marketing mix.