Marketing 4.0 is the new stage of marketing, the one we are currently experiencing according to Philip Kotler. What is it about?In 2010, Philip Kotler published Canadian CFO Email Lists 3.0, describing how marketing has evolved from product-oriented marketing (1.0) to customer-centric marketing (2.0) and from there to human-centered marketing and its values (3.0) What is Marketing 4.0It’s been just a few years since that and Kotler is already pointing to a new approach… digital.The fourth stage of Philip Kotler’s work emphasizes the convergence of “new” and traditional marketing to drive consumers to brand recommendation. Social media in particular and digital marketing in general are revolutionizing the world of marketing and therefore the way we do business.Marketing 4.0, Going from Traditional to Digital is an approach that all marketers should read. Recently Michael Krauss published in the American Marketing Association a note regarding the book (which you can already purchase ) with statements from the eminent marketer.Philip Kotler Marketing 4.0Kotler initially codified the academic principles of the marketing profession in his 1967 work, Marketing Management, and it is amazing that at the age of 85, the author, researcher, and Distinguished Professor of International Marketing at the Kellogg School of Management at the Northwestern University, Philip Kotler, is still making contributions to the discipline.
What is Marketing 4.0?”Marketing 4.0 is an effort to look at marketing along a different dimension ,” Kotler said in an interview.
“Traditionally, Betting Email List was geared towards communication being key, one-way communication, simply labeled as traditional marketing. Fortunes were built on brands that continually beat us with Campbell and Kellogg’s. But today connectivity and technology have altered the way we approach marketing. “”Much of the message of the book is that any company that wants to survive has to turn to these new social media tools and use digital media to facilitate their business management,” but it will remain a mix of old and new, he added. “We are not abandoning traditional marketing. We are mixing the traditional and the digital ”…. any company that wants to survive has to turn to these new social media tools …“Although the technologies are not necessarily new, they have been converging in recent years and the impact of that convergence has greatly affected marketing practices around the world. Clearly, the buyer has more power than ever. “Kotler believes that this technological convergence will ultimately lead to the merger between digital marketing and traditional marketing. “The role of marketers is to guide customers along their journey from awareness to recommendation.”If you are a marketer who has already worked on digital aspects, especially in inbound or attraction marketing , you will clearly discover that Kotler describes it is what we try to do on a daily basis, sliding users through the funnel to convert them from strangers to visitors to our site , leads, clients and finally recommenders of our brand.Inbound Methodology”While online businesses have occupied a significant portion of the market in recent years, we don’t believe they completely replace offline businesses,” says Kotler. “Today’s customer is more informed than ever, but also more distracted.”Today’s customer is more informed than ever, but also more distracted.Kotler also explores the main digital subcultures of youth, women and netizens … a topic that Seth Godin brought to the fore years ago talking about the importance of tribes .In Marketing 4.0, Kotler also offers a new set of marketing metrics and new ways of looking at the practice of discipline to improve marketing productivity.
Lastly, Kotler describes how marketers can implement effective tactical programs in this converging world of traditional and digital marketing.Kotler describes one of the first customer pathways and marketing frameworks, AIDA , coined by E. St. Elmo Lewis around the need for attention, interest, desire and action… A model that many no longer used but with the boom Of social media has become relevant again as it should be noted, again we compete for attention, and for example there are the tons of YouTubers and Instagramers who bite the bullet for users.How to be an influencerIn today’s hyper-connected marketing environment, Kotler says the customer journey is to move from conscious (I know the product), to attraction ( I like the product ), to questioning (I am convinced of the product), to action (I am buying the product), finally, the recommendation (I recommend the product).I really can’t help but think about inbound methodology and content marketing over and over again . This is exactly the essence.Kotler argues that a new set of metrics must be managed: “In line with the 5 A’s, two metrics are valuable to measure: the purchase action ratio (PAR) and the brand recommendation ratio (BAR). PAR measures how well companies “convert” brand awareness into brand purchase. BAR measures how effectively companies “convert” brand awareness into brand recommendation. “The big difference today is that the customer is in control, not the company. In the past we could have evaluated knowledge, judgment, use, and re-purchase with relative ease; the current market is more dynamic. Buyers are constantly communicating with each other. We have to manage through a more complex environment and enable, enlist and empower clients to communicate and advocate for the brand.There is a lot to think about Marketing 4.0, regardless of how much we know or not about digital marketing, and both experienced and novice will be able to educate knowledge.Philip Kotler’s advice to millennials and gen Z
When Kotler was asked for his advice to young marketers (millennials and gen z ) who are just starting out, the guru noted:“If you focus only on your experience in digital technology, it may seem like a disregard for past achievements of the administration. Play carefully. As a young marketer, recognizing your digital skills will be valuable and recognizing that you want to be balanced. If you focus too much on digital, you could end up just a stuntman and never be the CMO.