MARKETING 3.0

MARKETING 3.0
By:
Philip Kotler
Hermawan Kartajaya
Iwan Setiawan

Philip Kotler has once again come out with a book that is worth the classroom table. As expected from a pro marketer, he has started collaborating more with oriental thinkers to define his thoughts. Reason for this is the increasing prominence of Asian markets and the challenges of marketing in it. The other two contributors are Hermanwan Kartajaya and Iwan Setiawan. Both are consultants and renowned marketing thinkers from a company called MarkPlus in Indonesia.

The underlying theme of this book is no surprise to those who have read books like the ‘The World is Flat’ by Friedman or ‘Globalization and its Discontent’ by Stiglitz. That is convergence of information, technology and off course the users on the same platform. However, the applications to marketing are more relevant. Kotler calls the new trend as Marketing 3.0.

Marketing 3.0 is based on 3 premises:
1. The Consumer is well connected into communities (tribes) based on their preferences for ideas (pool), leadership (hub) or things (web).
2. The Consumer looks for transformation, empowerment and cultural similarities while connecting itself to a brand.
3. The Consumer is not just body, mind and heart. It also has a soul. Hence spiritual marketing is the way of the future.

Creating a brand image, brand integrity and brand identity is the core of this model. And for this the above three premises are important. Just having a brand name and positioning will not do. Marketing 3.0 demands creating life transforming stories, sustainable business processes and collaborating with the consumer to create a better world. The book frequently mentions the example of S. C. Johnson and how it is using Marketing 3.0. The book proposes a VALUE BASED MATRIX, wherein the company defines its Mission, Vision and Values to target the Mind, Heart and Soul of not just its consumers, but employees, partners, vendors and shareholders.

Finally the 10 Credos that the book leaves us are:
1. Love your customers, respect your competitors
2. Be sensitive to change, be ready to transform
3. Guard your name (aka brand) and be clear about who you are
4. Customers are diverse, go first to those who can benefit most from you
5. Always offer a good package at a fair price
6. Always make yourself available, spread the good news
7. Get your customers, keep and grow them
8. Whatever your business, it is a service business
9. Always refine your business process in terms of Quality, Cost and Delivery
10. Gather relevant information, but use wisdom in making your final decision.

All in all a good read. Kotler being a guru knows how to define concepts and give tools to apply them. So if you serious about marketing yourself in the new age, then go ahead and pick this up.