Evolution in technology has lead to a huge change in marketing. Marketing has gone through two evolutions. Marketing 3.0 addresses the human centric era.
Presentation has been an extract of a white paper released by Marketing gurus Philip Kotler and Hermawan Kartajaya.
I am a preacher of this marketing version. I look forward to implement and practice it.
The 10 Most Influential CMO's Leading the Way of Success, 2024 (Final file) (...
Marketing 3.0
1. Marketing 3.0
Created by Prashant Pathare
Source: White Paper Prepared by Philip Kotler and Hermawan Kartajaya
kingpatprash
prashantdpathare@yahoo.co.in
in.linkedin.com/in/kingpatprash
@kingpatprash
+91 – 99203 12380
2. kingpatprashAuthor:
Prashant Pathare
prashantdpathare@yahoo.co.in in.linkedin.com/in/kingpatprash @kingpatprash +91– 99203 12380
Marketing?
Definition
Performance of activities that seek to accomplish an organization’s objectives by
anticipating customer/ client needs and directing a flow of need satisfying goods
and service from producer to customer/ client.
Overview of Marketing Strategy Planning Process
Source: Book, - Basic Marketing (Wiliam Perreault
Joseph Cannon E. McCarthy)
3. kingpatprashAuthor:
Prashant Pathare
prashantdpathare@yahoo.co.in in.linkedin.com/in/kingpatprash @kingpatprash +91– 99203 12380
Marketing Versions
Marketing 1.0 – Product Centric
Era
Industrial Age
Without considering target market’s
needs and wants
Many misconceptions of marketing
Mere Selling, An Art of Persuasion,
and even Cheating
World changed over the past decades because of the technology evolution
So Did Marketing
Marketing 2.0 – Customer Centric
Era
Information Technology
Product value is defined by Customer
Must for Marketers to identify
unfulfilled needs and wants
Marketing continues to have a bad
name in many circles
Marketing 3.0 – Human Centric Era
Consumers will be treated as human beings who are active, anxious, and creative
Request more participation in value creation
Demand their deepest anxieties and desires
Ask for their creativity to be appreciated
4. kingpatprashAuthor:
Prashant Pathare
prashantdpathare@yahoo.co.in in.linkedin.com/in/kingpatprash @kingpatprash +91– 99203 12380
Age of Participation & Collaborative Value Creation
Development of computing has rolled out in five major waves
1st Wave
1960 – Mainframe Computers
Advanced into corporate world and become essential business tools
2nd Wave
1970s – Minicomputer
3rd Wave
1980s – Personal Computers
4th Wave
1990s – Networking and Internet
5th Wave
Unprecedented coalescence of three technological forces – cheap and ubiquitous
computing devices, low-cost & omnipresent bandwidth, and open standards
Offers limitless connectivity and interactivity
Marketing Managers listen to consumer’s voice to understand their minds and capture
market insights
Eg: Starbucks and HP collaborate to have Hear Music Media Bars, tablet-based PCs to
allow customers to create their own mix CDs
5. kingpatprashAuthor:
Prashant Pathare
prashantdpathare@yahoo.co.in in.linkedin.com/in/kingpatprash @kingpatprash +91– 99203 12380
Globalization Paradox & Iconic Branding
Globalization has always created a world of paradox
Three Macro Paradoxes that arise –
1. Creates a new non-democratic superpower
China a manufacturing hub; contributes 50% to GDP
2. Doesn’t create a convergent but a divergent economy
More than 1Billion people who are state in extreme poverty and subsist on less then $1 per day
3. Doesn’t create a uniform, but a diverse culture
Thomas Friedman – The Lexus and the Olive Tree
The Lexus – Drive for prosperity and development
The Olive Tree – Ancient forces of culture, geography, tradition, and community
Effect – Companies are intensely competing to be icons of the society
Iconic Brands address acute contradictions in society: Douglas B. Holt
6. kingpatprashAuthor:
Prashant Pathare
prashantdpathare@yahoo.co.in in.linkedin.com/in/kingpatprash @kingpatprash +91– 99203 12380
Consumer Creativity and Independent Communication
Daniel Pink – Whole New Mind
Ages: Agricultural, Industrial, Information, Conceptual
Senses: Design, Story, Symphony, Empathy, Play, Meaning
Creativity is the driving force of economic growth
Creative people are the ones that will shape the future market
Customer: Not only is the King but also MR Head, R&D Chief and Product-Development Mgr
For these consumers, communication:
No longer effective - Top-down, one-way, and mass
Aspirations
Eg: LEGO
Enlists influential consumers as online evangelists
New locomotive kit, shown to 250 LEGO train fans
Word of Mouth; sold 10k units in 10 days with no other marketing
7. kingpatprashAuthor:
Prashant Pathare
prashantdpathare@yahoo.co.in in.linkedin.com/in/kingpatprash @kingpatprash +91– 99203 12380
Three Characteristics of Marketing 3.0
Will be very much influenced by consumer
More sophisticated form of customer-centric era
Technology → Enables Customers to collaborate in Value Creation
Global Paradox → Technology, Iconic brands shall win competition
Consumer Sophistication generates future market
8. kingpatprashAuthor:
Prashant Pathare
prashantdpathare@yahoo.co.in in.linkedin.com/in/kingpatprash @kingpatprash +91– 99203 12380
How to stay relevant in Marketing 3.0?
Brands must target consumers as human beings
According to Stephen Covey, human body is made up of four basic components:
Capable of Independent Thought & Analysis
Begins here
Positioning
Concept evolved
World became more emotional
Virgin’s – Unconventional Marketing
Unlocking the soul’s code
Marketers should discover the anxieties
and desires of customers
Human Body
9. kingpatprashAuthor:
Prashant Pathare
prashantdpathare@yahoo.co.in in.linkedin.com/in/kingpatprash @kingpatprash +91– 99203 12380
Redefining Marketing
Redefined to its Root as a Triangle of Positioning, Differentiation, and Brand
Main Message
Not telling lies
Keeping the promise
Brand Identity
Positioning in the minds of the consumers
Unique; heard & noticed in cluttered
marketplace
Relevant to rational needs and wants of
consumers
Brand Image
Acquiring consumer’s mind-share
Appeal consumers’ emotional needs & wants
Brand Integrity
Credible to your promise
Establishing the trust of the consumers
Targeting spirit of the consumer
10. kingpatprashAuthor:
Prashant Pathare
prashantdpathare@yahoo.co.in in.linkedin.com/in/kingpatprash @kingpatprash +91– 99203 12380
Marketing of the Meaning
Mission
Charles Handy: Inverted Donut
To incorporate as part of corporate culture
Difficult to maintain commitment, especially during difficult times
World at Large – A better and ideal place to live in
Corporate Philanthropy – For a social or environmental cause
Starts in two ways
1. CEO gets passionate
2. Company decides
Best Approach is to embed it in Mission, Vision and Values
Mission – Company’s Reason for Being
1. Expresses business your company is in (dynamic)
2. Company’s basic purpose (enduring)
Firmly rooted in present
Vision – Inventing Future
Aspire to become, to achieve, to create
Symbolized by Compass