Thursday, September 16, 2010

Philip Kotler: brief introduction to the marketing mix


Well, who's Philip Kotler? What can we now about him? If you are working on the marketing, advertising or economic area and you don't even know his name, you'd better start giving up your job.

Philip Kotler could be considered as the father of marketing, the creator of the new and modern fundamentals of marketing and one of the most influential persons in the globe in terms of economic aspects.

Kotler was born in 1931, and he is an economist and expert in International Marketing. He studied at the University of Chicago and he is phD in the MIT. He also finished to complete his academical formation at the University of Harvard, researching and doing some works in a postgraduate course.

However, he is worldwide known because of his theory of the Marketing Mix. This modern fundaments (now a bit old-fashioned, but still basic in the terms of marketing) is also known as the 4p: place, promotion, price and product.

Generally speaking, we could say that for having success (in professional terms), you should build well-based foundations on your company, developing a marketing plan, a planification on the positionment and targeting of the product/service and establishing the value proposition for it.

However, the most important fact to take in mind is the marketing mix: which product are we going to launch and why? Then, depending on the target, are we going to put an expensive price to it, or a cheap one? How will we promote it, how are we going to let our consumers know about our product? And finally, how will our customers reach our product, how are we going to distribute it?

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