Philip Kotler on Marketing for Profit

In our search for the definition of social business and to understand the road towards a social business strategy, let’s look at prof. Philip Kotler‘s definition of marketing:

Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.  Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.

In the video below Kotler takes us through the history of marketing, ending in an overview he calls the value-based marketing model. We’ve got to ask ourselves: Why do we do it = Mission. How do we plan to achieve it = Vision. And what value do we intend to bring to the market = Values.

Kotler_value_based_marketing_3.0_world

Scheme: Marketing 1.0 equals the mind, Marketing 2.0 equals the heart and Marketing 3.0 equals the spirit.

Amazingly, in the next video Kotler seems to almost apologize himself to the audience for the negative effects of marketing in general. The value-based marketing model – and Marketing 3.0 (Spirit) in particular – appears to come at his rescue, setting the stage for previously unheard-of moral values.

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