Marketing is an essential part of a company's success. However, we often make small mistakes that can cause big problems and negatively affect our results. Philip Kotler gives come tips to leverage your results in the book "Ten Deadly Marketing Sins"!
In this summary we've separated the 10 deadly sins of marketing, they are mistakes that are crucial to our results and if we don't get over them, they can lead us to failure.
That's why it is important to you know and so avoid them. Philip is known as a Marketing guru, and there is no better way to learn something if not with the best person in the area!
Got interested to increase your incomes with some marketing strategies? Stay with us in this summary and discover how!
"Why do 75% of new products, services, and businesses fail? And why do marketing campaigns no longer deliver the same results?"
Seeking to understand why companies struggle to deliver the best results from their marketing industry, Philip Kotler teaches what to do, what not to do, and how to identify and solve marketing problems.
Published in 2004, this book shows that "the real role of marketing is to identify opportunities and create results-focused business strategies."
Nowadays, marketing presents itself as an area that should be related to all other areas of the company, acquiring a holistic characteristic.
In parallel, we face issues such as competitors around the world, difficulty in building customer loyalty, and mass marketing, which is becoming less and less effective.
With this scenario in mind, Kotler explains the biggest mistakes companies make and teaches how we can overcome these challenges.
Known as "Pope of Marketing" and "Father of Modern Marketing", Philip Kotler holds a degree in economics and is a professor of international marketing at Northwestern University in the USA. His studies have laid the foundation for what Marketing is today.
Kotler has been awarded numerous awards and is also the author of bestsellers, such as:
Reading is recommended not only for who is a marketer, but for all employees of a company.
So if you work with marketing or other areas that have customers, suppliers or other stakeholder contacts, we indicate this book, as the author presents a broad concept that treats marketing as a joint effort of all with a primary focus: the client.
Do you have no time to read now? Then download the free PDF and read wherever and whenever you want:
The first sign is a lack of focus on both the market and the customer. And we know these are key points for the success of your business.
The market is constantly evolving. New technologies and methods are emerging, and we need to be prepared for these updates.
That said, we realize the importance of not making the mistake of don't focus sufficiently on the market in which your business is inserted, because, without proper focus, the segments are not correctly identified. They are also not prioritized and the sales team won't be able to customize the service according to the characteristics of each segment.
This can not happen! You need to know your market like the palm of your hand. So be aware of these signals, and if you find that you don't understand how your market works, and what your customers are doing, you need to address this issue.
Insufficient customer orientation
The market should not be your only focus. There is one member of your entire sales process that is the most important variable: the customer.
Many companies find that the customer is only the marketing and commercial task. And they are completely wrong!
The customer is the driving force of your business, and satisfied customers should be the main goal of all employees, from the CEO to the suppliers.
So if your business doesn't focus completely on the customer, doesn't encourage the "customer culture" and doesn't encourage employees to treat customers well, you are committing a marketing sin.
But just focusing on the customer is not enough. You need to understand it, know your preferences, opinions, perceptions about your product and even complaints.
However, when your company doesn't research the public through market research, it would have a high level of customer complaints and consequently lose some of them.
To overcome this challenge, Philip Kotler says you need to research, analyze and interact with your customers.
The market is wide and dealing with competition is part of everyday life. But many companies face the problem of not properly monitoring their competitors, which can have serious consequences, such as loss of market share.
And even focusing on competitors, many make the mistake of focusing only on nearby opponents and ends up forgetting those who are distant or do not value disruptive technologies that emerge and may be a competitive advantage.
And as we talk about competitive advantage, that's what you need to get in front of your rivals, so you need to fix this marketing sin and monitor your competitors, as Philip Kotler explains now.
This sin of marketing deals with one fundamental factor: relationship.
As Philip Kotler mentioned earlier, marketing is not just about marketing professionals, the good results will be the result of a joint effort from all areas. For this, your company must cultivate a good relationship with its stakeholders.
But who are these stakeholders? These are all people who are interested in your process and have a stake in it. In this case, you will deal with employees, suppliers, distributors, and resellers.
The problem arises at a time when employees are not satisfied, suppliers are not the best, or distributors and dealers are unhappy. All of this will affect the development of your product, process, and company.
Now let's talk about opportunities. We invite you to reflect with me: how often does your company identify new opportunities and have new ideas? Are these ideas working?
Follow this path always seeking to innovate. Otherwise, we need to understand that it is crucial to look at the opportunities that arise in the market and develop them to apply in their reality, always seeking to implement innovations and win customers in new ways.
So if your business hasn't identified great opportunities in recent years and most of the new ideas haven't worked, the tips below will be useful.
In the process of strategizing, good planning is critical.
Many companies face problems where marketing plans have no logic, analyze wrong components, and have no contingency plans, so these companies are surprised that the marketing plan was poor and did not consider the possible changes that could occur along the way.
Allied to this, the lack of engagement with the plans contributes to the failures present in the execution.
What products do you sell the most? Which one give you the biggest profits? Questions like these are very important to understand how your portfolio of product works.
Philip Kotler says that if your company has too many products you may be losing money, offers too many courtesies, or has difficulty selling your products in a more complex way with effective strategies, then your product policies need to be adjusted.
Poorly formulated or outdated policies may be affecting the entire operation of your business and therefore need to be fixed.
A well-built brand is easily recognized by the public and its identity is widespread in the marketplace.
In relation to your brand, analyze the following problems:
Did you identify yourself in any of these issues? So, it is a sign that your company is having difficulty in brand management. Look at the following solutions so you can make a company different from the well-defined brand identity.
Is your team well aligned? Does the marketing leader offer effective solutions? Is marketing aligned with other areas?
These questions are critical to understanding if your business is well organized to perform effective and efficient marketing.
A misaligned team will affect everything from strategy development to campaign execution. That is, if the team is misaligned, this problem needs to be resolved.
The world we live in today is digital. So you need to be aware of new technologies.
If your business doesn't use the internet, has outdated systems, can't establish models for decision-making, and needs to develop better control and analysis methods, then there is a failure to tap the full potential of new technologies.
Today we have many options for improving the customer and work experience of company employees. So, to leave this sin behind, Philip Kotler suggests the following tips.
Complementing Kotler's thinking, Seth Godin, the author of "This Is Marketing", talks about the importance of the Internet for marketing, explaining that it has changed the rules of the game. It is the most massive mean ever created because it connects billions of people.
Stressing the importance of being cost-conscious, Jay Conrad Levinson, in his "Guerrilla Marketing" work, presents a way to make more impact on marketing at lower costs. For this, he suggests digital media as essential in brand and product promotion, using tools such as email marketing, for example.
With marketing taking on this holistic format, we realize its importance in all areas of the business. So, just like Kotler, in the book "Sales Management. Simplified.", the author Mike Weinberg clarifies that in a good sales culture, salespeople remain responsible, meetings are positive for everyone, and reward programs are appropriate.
Are you ready to leverage your results avoiding those Marketing Sins that were shown here? Did you find this content useful? Leave your feedback in the comments!
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