Marketing Strategy Definition By Kotler

In Online Marketing by admin

by Viktor Grant

Before we get to Marketing Strategy Definition, let’s define the word Marketing:

What is Marketing?

Philip Kotler says:

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.  – source: KotlerMarketingQ&A

StrategyGraphic

Let’s break this down – it is both a SCIENCE and an ART.

In the above quote, Philip states there are 3 components:

  1. Exploring
  2. Creating
  3. Delivering Value

To whom?  A Target Market

Why? To make a profit.

How?

  • IDENTIFYING unmet or unfulfilled needs and desires
  • DEFINING, MEASURING and QUANTIFYING the size (how big) is the target market
  • Calculating the PROFIT POTENTIAL
  • Pinpointing SEGMENTS (niches) you can serve best
  • Designing and PROMOTING the appropriate products or services

 

Thank you Philip Kotler – I believe I finally now understand everything that is involved with Marketing!

Digging deeper with Search Triggers, I clicked on the ‘GREEN DOT’ and found some publications. One particularly interesting publication was from the Swiss.

Kotler is quoted as saying in 1997:

“The marketing strategy is the way in which the marketing function organises its activities to achieve a profitable growth in sales at a marketing mix level”

So, by adding the word “Strategy” we’re now talking about the WAY this function ORGANIZES.

WHY?  To achieve profitable growth.

How do we do that?

“a) By specifying what resources should be allocated to marketing.
b) By specifying how these resources should be used to take advantage of opportunities which are expected to arise in the future.
c) Organising marketing resources , so as to match products with customers in the most efficient and effective way possible, ie, so as to maximize customer satisfaction and the organisations profits or sales revenue. (or whatever its objectives are !) at the same time.”

Source:  MPRA Paper Munich Personal RePEc Archive Strategic Marketing. A literature review on definitions, concepts and boundaries Jorge Mongay Autonomous University of Barcelona, SBS Swiss Business School - Quote by Philip Kotler

Now, let’s break this down:

a)   We must SPECIFY what RESOURCES are available (ever hear the phrase – “What’s your Marketing Budget?”)

b)   We must SPECIFY HOW they should be used ( i.e.  what to spend on i.e. PPC, SEO, Software Tools, Consulting etc.)

c)   We must ORGANIZE these resources to match products with customers (sounds a lot like Affiliate Marketing)

 

Nowhere in there does it say we need to even be selling our own product, yet most people believe this to be so.  If anything, the Marketing Strategy Definition has within it the modern concept of Affiliate Marketing i.e. selling other people’s products that “Match what people want”.

How this article came to be: Search Triggers PLUS.

There is a process I’ve developed called the ‘Gangster Method’ – it is a ‘strategy’ in every sense of the word, which I’ll be testing with our CASE STUDY participants to measurably increase their online traffic by applying a few tactical adjustments.

As I sat down today, I noticed someone on our Twitter page:

a)  Favorited one of my posts

b)  So I checked him out – and went to his Twitter page and found an article that he was sharing from Forbes – “Marketing Strategy To Give You an Edge” 

– its an OK article but it doesn’t say much other than ‘Strategy is hard’ and ‘Tactics are easy’ – so I thought I’d use Search Triggers to see who was the leader in “Marketing Strategy” – after a few iterations I came up with this screenshot

marketing-strategy-definition-kotler

2016 Update – since this is one of our most widely read articles.
What does this chart mean to you?  Well, if you’re a Search Triggers user it reveals a lot. If not, now would be a good time to become one! (here’s the link to the free trial)

Let me explain step by Step:

  1.  I went to Search Triggers and did a search for ‘Marketing’ to see what concepts were trending
  2. One of those concepts was ‘Strategy’ – both Google and Bing considered Marketing Strategy an important topic
  3. Then I ran that in Search Triggers and it gave me the 3rd word ‘Definition’
  4. I ran it again with ‘Marketing Strategy Definition’ and it produced the chart above

You can see the ‘green light’ means that there are only a few articles on the Internet. The numbers on the right refer to the number of pages that existed at the time, 27.

Today there are 36 as in the screenshot.

st-kotler-36

How does this apply to you?

Chances are if you’re reading this article, you’re either a student doing research about marketing or you are looking to learn more about Kotler. What if it were possible to find information that was RELEVANT to you faster and more efficiently than with other search engines. Our focus is honor, embrace and extend these pioneering concepts by these great visionaries in Marketing.

There are several ways you can get involved.

All of the research to produce this blog post was created with

Search Triggers .

Thank you for reading! I look forward to serving your Marketing Strategy Needs,

VikGrant

Specifically, what is the BIGGEST challenge you’re now having with ‘marketing’ today?