Marketing 4.0: Moving from Traditional to Digital
by Philip Kotler
Random conversations about brands are now more credible than targeted advertising campaigns. Social circles have become the main source of influence, overtaking external marketing communications and even personal preference. Customers tend to follow the lead of their peers when deciding which brand to choose. It is as if customers were protecting themselves from false brand claims and campaign trickeries by using their social circles to build a fortress. Any brand that has strong characters and DNA would likely be unpopular with a certain market segment. But what these brands should aim to have is the ultimate sales force: an army of lovers who are willing to guard the brand in the digital world.
Any brand that has strong characters and DNA would likely be unpopular with a certain market segment. But what these brands should aim to have is the ultimate sales force: an army of lovers who are willing to guard the brand in the digital world.
The more social we are, the more we want things that are made just for us. Backed by big-data analytics, products become more personalized and services become more personal. In the digital economy, the key is to leverage these paradoxes.
In a connected world, the concept of marketing mix has evolved to accommodate more customer participation. Marketing mix (the four P's) should be redefined as the four C's (co-creation, currency, communal activation, and conversation).
The market is shifting away from high-volume mainstream brands into low-volume niche ones. With the internet, physical logistical constraints no longer exist for smaller companies and brands.
Thus, the ultimate goal on this end is to reach a high number of customers who are willing to advocate their brands—that is, a higher brand advocacy than that of other brands.
"Random conversations about brands are now more credible than targeted advertising campaigns. Social circles have become the main source of influence, overtaking external marketing communications and even personal preference. Customers tend to follow the lead of their peers when deciding which brand to choose. It is as if customers were protecting themselves from false brand claims and campaign trickeries by using their social circles to build a fortress."
"Any brand that has strong characters and DNA would likely be unpopular with a certain market segment. But what these brands should aim to have is the ultimate sales force: an army of lovers who are willing to guard the brand in the digital world."
"The more social we are, the more we want things that are made just for us. Backed by big-data analytics, products become more personalized and services become more personal. In the digital economy, the key is to leverage these paradoxes."
"In a connected world, the concept of marketing mix has evolved to accommodate more customer participation. Marketing mix (the four P's) should be redefined as the four C's (co-creation, currency, communal activation, and conversation)."
"The market is shifting away from high-volume mainstream brands into low-volume niche ones. With the internet, physical logistical constraints no longer exist for smaller companies and brands."
"Thus, the ultimate goal on this end is to reach a high number of customers who are willing to advocate their brands—that is, a higher brand advocacy than that of other brands."
"In a highly connected world, a key challenge for brands and companies is to integrate online and offline elements into the total customer experience."
Looking for something similar?
Describe your situation. The search finds the right book from the entire library.