in the last few days I’ve had the great opportunity to read a must-have book that every marketing professional should read: Marketing 3.0, written by prof. Philip Kotler. I’d like to share with you some insights and topics that are today very important because they’re strictly related to the changes in the economy in the last few years.
According to Kotler’s book “Marketing 3.0”, human civilization can be divided into three waves of the economy. The first wave is the Agriculture Age, in which the most important capital is the land for agriculture. The second is the Industrial Age following the Industrial Revolution in England and the rest of Europe. The essential kinds of capital in this age are machines and the factory. The third era is the Information Age where information and high-tech are the imperative types of capital to succeed. Today, as humanity embraces the challenge of global warming, we are moving toward the fourth wave, which is oriented to creativity, culture, heritage, and the environment.
The rich countries of the West are now experiencing a much slower rate of growth, and economic power is rapidly shifting to countries in the East that are experiencing higher rates of growth. At the same time, technology is shifting from the mechanical world to the digital world – the Internet, computers, cell phones and social media.
The great change we had in the last decades has been the following: marketing has moved from being product-centric (Marketing 1.0), to being consumer-centric (Marketing 2.0). Today Marketing is transforming once again in response to new dynamics in the environment. Companies are expanding their focus from products to consumers to humankind issues. Marketing 3.0 is the stage when companies shift from consumer-centricity to human-centricity. Achieving goals means for companies to choose their network carefully – employees, distributors, dealers and suppliers. Mission, vision and values should be aligned so that all members of the network act together to achieve their goals.
Organizations worldwide get their profits by creating superior value for their customers and stakeholder partners. As I wrote in my last post “CSR & Web Communication Insights”, the purpose of marketing is creating, communicating and delivering value to customers at a certain profit. The golden rule should be “customer is king”. Today’s marketers cannot just create a product with a nice packaging and with a good level of technology. Marketers should do more. They should try to touch the consumer’s mind and heart.
Marketing 3.0 is the values-driven era. Instead of treating people simply as consumers, marketers should consider them as human beings with minds, hearts and spirits. Companies today look for human spirit fulfillment, not just functional and emotional fulfillment in the products and services they choose. Marketing 3.0 is about touching consumers at a higher level – at a spiritual level. Companies should put cultural issues at the heart of a company’s business model. Consumers are not just interested in buying a new product, they also want to satisfy their needs, searching for experiences that touch their spiritual side. Marketing 3.0 is not about companies doing public relations. It’s about companies weaving values into their corporate cultures.
So, under the economic and financial point of view, profits will surely come when a particular organization is meeting ethical objectives. Is the company going into the right direction in order to be coherent with its values, mission and vision? Collaboration, culture and spirit are the key words in the Marketing 3.0 era. Customers are not just consumers, but they’re prosumers, they co-create with the organization products and services. Information, ideas and public opinion are disseminated by the new wave technology.
We had a radical shift from product management to customer management and today we’re facing a new challenge: brand management. Today we don’t have just the 4 Ps, today we have at least three more Ps: people, process and purpose. But marketing is still about STP – segmentation, targeting and positioning. Companies want to segment their market, choose the right target audience and then position their products and services in the minds of potential customers in the right way. The way in which consumers interact with each other is totally changed. An important info is that 70% of consumers believe in customers opinions posted online.
Brand management is about creating your own brand and trying to build it. The way you build your character is the same way you build your brand. A brand should be different from other brands in order to be highly relevant in a certain category or subcategory.
Marketers should reach today mind-share and heart-share… it’s mostly spiritual, not only emotional and we’re going into that direction…. The new marketing will be: SPIRIT-SHARE.