Mantra for Modern Marketing: CCDVTP

Overview

• CCDVTP: Create, Communicate, and Deliver Value to a Target market at a Profit
• Mantra Coined: The speaker invented this phrase

Breaking Down CCDVTP

Create

• Creating Value: Called product management
  • Includes tangible or intangible products/services
  • Formerly: Companies internally managed product creation using scientists/engineers
  • Now: Open Innovation
    • Example: Procter & Gamble (P&G) outsourcing ideas, like printing on Pringles with the help of an Italian cookie maker

Communicate

• Communicating Value: Called branding/brand management
  • Difference between product management and brand management
  • Brand Management: Communicating excitement and differentiation for products
  • Evolution: From packaging/names/logos to an emotional promise
    • Current Focus: Mind share, heart share, and spirit share (e.g., corporate social responsibility)

Deliver

• Delivering Value: Called customer management
  • Formerly: Managing databases and direct communication (e.g., direct mail/email)
  • Now: Involves deeper engagement and understanding
    • New Approach: Co-creation with customers
      • Example: Customers helping in product creation and advertising

Change in Marketing Practices

• Product Management: From internal focus to global collaboration (open technology)
• Brand Management: Emotional and social responsibility aspects
• Customer Management: Active customer involvement beyond databases

Key Takeaways

• Marketing is a holistic approach combining product, brand, and customer management
• Innovation and emotional connection are crucial in modern marketing
• Collaboration and social responsibility drive new marketing trends