Developing a strategy through business training that covers all aspects of your business will help you stay up to date with the latest marketing techniques that can boost your progress.
At the heart of any marketing strategy must be the fundamental principles that any company, industry or sector can apply to achieve the most effective results.
But to put them into practice, management must believe in the importance of training and training from companies specializing in marketing , which will allow your business to take a qualitative leap.
Philip Kotler's 13 principles of marketing
Personally, I tend to return to the sources of knowledge that, over the years, have helped me develop as a marketing professional. One of them is Philip Kotler , a key figure in the field of marketing, and his principles have guided companies and professionals for decades.
Below is a detailed and complete list of Kotler's marketing principles, based on his work and contributions to the discipline:
1. Customer Orientation
Customer Satisfaction: Marketing should focus on satisfying customer needs and wants. The primary goal is to create long-term value and satisfaction.
Market Segmentation: Identify and divide the market into clear and manageable segments that share similar characteristics and needs.
Target Market Selection: Choosing one or more segments to focus marketing efforts on, selecting those that offer the best business opportunities.
2. Value Creation
Value Proposition: Define a clear and unique proposition that differentiates the product or service in the market, highlighting the benefits it offers to customers.
Quality Product and Service: Ensuring that products and services meet customer expectations and exceed competitive offerings.
3. Communication and Promotion
Integrated Marketing Communication (IMC): Coordinate all communication channels to present a coherent and consistent brand message to the market.
Advertising and Promotion: Use advertising and promotion tactics that align with the overall marketing strategy to increase the visibility and attractiveness of the offer.
4. Long-Term Relationships
Relationship Marketing: Focus on building lasting and valuable relationships with customers, fostering loyalty and retention through excellent customer service and loyalty programs.
Customer Lifetime Value (CLV): Measure the total value a customer brings over their lifetime, and use this metric to guide marketing decisions.
5. Market Research and Analysis
Market Research: Conduct market research to understand customer needs, consumer behavior, and market trends.
Competitor Analysis: Regularly assess the competition to identify opportunities and threats, and adjust marketing strategy accordingly.
6. Innovation and Adaptability
Product and Service Innovation: Introduce constant improvements and new offerings that meet changing market needs.
Flexibility: Being able to adapt marketing strategies to changes in the business environment, including changes in technology, regulations, and consumer preferences .
7. Positioning and Branding
Market Positioning: Create a clear and distinctive position in the mind of the consumer, differentiating the brand from the competition.
Brand Management (Branding): Developing and maintaining a strong and recognizable brand that connects emotionally with consumers and represents consistent values .
8. Ethics and Social Responsibility
Ethical Marketing: Implement marketing practices that respect ethics and laws, and that do not deceive or manipulate consumers.
Corporate Social Responsibility (CSR): Integrating social responsibility into the marketing strategy, demonstrating a commitment to the well-being of society and the environment.
9. Price Optimization
Pricing Strategy: Establish prices that reflect the value perceived by customers, that are competitive in the market, and that allow for adequate profitability.
Cost Management: Control costs to maximize efficiency and profitability without compromising the quality of the product or service.
10. Efficient Distribution
Distribution Channels: Select and manage distribution channels that ensure product availability and accessibility for the target customer.
Logistics and Supply Chain Management: Optimize the supply chain to minimize costs and delivery times, ensuring that the product reaches the customer in perfect condition.
11. Measurement and Control
KPIs and Marketing Metrics: Establish and monitor gambling data hong kong key performance indicators (KPIs) to evaluate the effectiveness of marketing strategies.
Marketing Audit: Conduct periodic audits to review and adjust the marketing strategy based on results and changes in the environment.
12. Multichannel Integration and Digitalization
Digital Marketing: Leveraging digital technologies and online platforms to reach and engage customers more effectively.
Multichannel: Integrate multiple channels (online and offline) to offer a coherent and fluid customer experience.
13. Personalization and Customer Experience
Personalization: Tailoring offers, communications and experiences to individual customer preferences and behaviors.
Customer Experience (CX): Designing and managing the customer experience at every point of contact to increase satisfaction and loyalty.
These marketing principles according to Kotler serve as a guide for companies to develop effective and sustainable strategies, focused on the customer and oriented towards creating value in a competitive market.
The principles of digital marketing for companies present in each training
Other authors have also developed their own marketing ideas. What are these other marketing principles? In this case, they were first published in 1960 by the renowned American marketing professor E. Jerome McCarthy in his book “Basic Marketing: A Managerial Approach.”
Let's look at its four principles below:
The first principle of marketing is the product, which can be defined by the totality of goods and/or services that a company offers and how they correspond or not to the demands and expectations of the public.
The second principle, price, is understood as the point of equilibrium of profit margins, without being too high for the end customer, but also not so low as to risk bankruptcy.
Marketing principle number three, place, involves how a company’s services are delivered, while also referring to the spaces where physical products are sold.
The fourth and most obvious is promotion , by which we mean the totality of tactics, such as discounts or advertising of any kind, through which a company can expand its customer base.
As should happen with any marketing strategy, these four principles have evolved over time, becoming seven since the 1980s – the new additions were intended to better fit the modern era.
The three new principles were developed as ways to address the less tangible elements of marketing, inspired in part by the shift toward modern sales and service in the digital space.
This is how the People Principle came into being . Every business depends on people to exist, so having the right employees is as essential a part of the business as the product/service offered.
Furthermore , how customers connect with real people is an issue that those who operate their businesses in the digital environment must also reflect on.
Another new marketing principle has been dedicated to process : it refers to the ease with which the customer can move from the brand discovery part to the actual receipt of the product/service.
The last marketing principle is dedicated to physical evidence , that is, the amount of physical results through which a website or online ads support a brand.
The fact that the product is at the forefront of marketing principles makes a lot of sense, because without a great product/service you can't even talk about a business.
