As I have written before, Philip Kotler has forgotten more about marketing than most of us will ever know. The “Ten Commandment” metaphor provides a marketing compass from which a small business can make decisions and plan its marketing strategy. As you read Kotler’s commandments below, just insert the word “small business” in place of the word “company.” It works. Whether it’s big or small business, Dr. Philip Kotler hits home with best practice strategies that work and are time tested.
1. “The company segments the market, chooses the best segments, and develops a strong position in each chosen segment.
2. The company maps its customers’ needs, perceptions, preferences, and behavior and motivates its stakeholders to obsess about servicing and satisfying the customers.
3. The company knows its major competitors and their strengths and weaknesses.
4. The company builds partners out of its stakeholders and generously rewards them.
5. The company develops systems for identifying opportunities, ranking them, and choosing the best ones.
6. The company manages a marketing planning system that leads to insightful long-term and short-term plans.
7. The company exercises strong control over its product and service mix.
8. The company builds strong brands by using the most cost-effective communication and promotion tools.
9. The company builds marketing leadership and a team spirit among its various departments.
10. The company constantly adds technology that gives it a competitive advantage in the marketplace.”*
Your comments are welcome.
By Stuart Atkins
* Adapted from Philip Kotler, Ten Deadly Marketing Sins (Hoboken, NJ: John Wiley & Sons, 2004) pp. 10, 145-148.
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