Session with Business Students Wednesday, 8 th June, 2011

The internet will create the winner and bury the laggards Today you have to run faster to stay in place The most important thing is to forecast where customers are moving, and be in front of them Every business is a service business. Does your service put “ a smile ” on the customer’s face Sell value, not price The best advertising is done by satisfied customers The successful salesperson cares first for the customer, second for the products

Kotler has been consulted by many large companies, including IBM, Michelin, Bank of America, Merck, General Electric, Honeywell, Samsung, Coca cola, Hyundai and Motorola — in the areas of marketing strategy, planning and organization, and international marketing. He presents seminars in major international cities and countries around the world on the latest marketing developments to companies and other organizations. Kotler developed new concepts in marketing including demarketing, megamarketing, turbomarketing and synchromarketing. He believes that marketing theory needs to go beyond price theory and incorporate the dynamics of innovation, distribution and promotion systems into analyzing, explaining and predicting economic outcomes.

Philip Kotler (born 27 May 1931 in Chicago) is the S.C. Johnson & Son Distinguished Professor of International Marketing at the Kellogg School of Management at Northwestern University. He received his master's degree at the University of Chicago and his PhD at Massachusetts Institute of Technology, both in economics. He did postdoctoral work in mathematics at Harvard University and in behavioral science at the University of Chicago. Professor Kotler's book, Marketing Management, is the world's most widely used graduate level textbook in marketing. His other textbooks include Principles of Marketing and Marketing: An Introduction and they are also widely used around the world.

Marketing

Brand is not something you create Brand is something you establish A Brands does not become big only working with big market … Giants like CocaCola, KFC are in Bangladesh

 Product  Price  Place  Promotion These are just beginning

 Purpose  Principles  People  Protect (planet)  Profitable (These all P’s ensure your business PROGRESS

 Spending 100% on marketing (communication) in general is not appreciable  Companies should spend at least 10% time and budget through social media i.e. Facebook, Twitter Organizations should focus more in to B2B Marketing and CRM

 Advertising is the sexiest part of Marketing.  We study marketing because we don’t like Finance. This should not be our concept.  Brand is how you managed expectation. It needs integrity and promise.  Great marketer is one who have a vision.  Try to go international.  B2B is more important than B2C in the context of world business.  Social Media (Facebook, Twitter etc. is also important beside advertising).