Philip Kotler, widely recognized as the dean of America’s marketing professors, shares his insights on what's next for marketers... from defining their target to creating the optimum role of AI.
Here are today’s major changes.
1. The Internet, mobile phones and social media are now playing a larger role in influencing consumer and producer behavior.
2. Companies are more interested in producing long-term customers, not just single sales. Companies seek to design a set of engaging customer experiences that leads to customer advocacy. A company is successful when its customers become its best advertisers.
3. Management now recognizes the importance of excellent service in winning customer loyalty.
4. Marketers see their key mission to lie in building winning brands.
5. Marketers see their key responsibility to lie in delivering a dependable measure of the Return on Marketing Spend.