Philip Kotler Quotes - Page 2

The internet will create the winnerand bury the laggards.

Every company should work hard to obsolete its own product line - before its competitors do.

A great leader is one who surrounds himself with great people who then, collectively, innovate and implement with success. If he tries to do it all by himself, he is an egotist and likely to fail.

There is no such thing as a commodity. It is simply a product waiting to be differentiated.

Today you have to run faster to stay in place.

Competitive advantage is a companys ability to perform in one or more ways that competitors cannot or will not match.

Watch the product life cycle; but more important, watch the market life cycle.

Marketing is becoming a battle based on information than on sales power.

The key to branding, especially for smaller firms, is to focus on a limited number of issue areas and develop superb expertise in those areas.

Good customers are an asset which, when wellmanaged and served, will return a handsome lifetime income stream for the company.

When it comes to efficiency and effectiveness, I would always start with effectiveness. I am interested in achieving a certain outcome. Only secondarily do I worry about achieving it as efficiently as possible.

Many great ideas need refreshment and deeper analysis. "Freedom," for example, is a great idea but it has become a cliché.

I believe in the triple bottom line: people, planet, and profits. I would make sure to hire the best people and pay them more than my competitors. I would encourage their participation in decision making and hope that they can feel free to disagree with me.

The theory of marketing is solid but the practice of marketing leaves much to be desired.

Your company does not belong inmarkets where it cannot be the best.

Whenever someone wonders how I could have written 57 books, I remind them that Isaac Asimov wrote 500 books. I like Asimov's view that great insight comes from seeing something as odd and finding out why. Curiosity is the starting point for great science.

My primary early interest was in marketing and my aim was to improve its theories, methods and tools. Early on I pressed companies to adopt a consumer orientation and to be in the value creation business. I didn't pay much attention to the social responsibilities of business until later. Now I am pressing companies to address the triple bottom line: people, the planet, and profits. I found that companies were too much into short term profit maximization and they needed to invest more in sustainability thinking.

A person without an Apple watch is perfectly content with his present watch but when he sees his friends buying the watch, he will hanker for an Apple watch. The endless cycle of wanting, getting, and wanting again is part of the plot of Capitalism. It is the way Capitalism creates jobs. The only antidote is Buddhism that holds that people might be happier by renouncing desire rather than by striving to satisfy desire. But then how can the economy create enough jobs in a Buddhist society of "less is more."

I admire firms that have achieved a real differentiation from their competitors. Nike is all about mastering sports. Apple is all about creating technologies to make life easier and better. Audi is is all about introducing new technologies to make automobiles safer and better performing.

Marketing is the set of human activities directed at facilitating and consummating exchanges.

Integrated marketing communications is a way of looking at the whole marketing process from the view point of the customer.

When managers overdo micromanaging of others, they probably hired the wrong people or failed to give them a clear idea of what each one is to accomplish. I prefer to train employees to be self-managers, just as in an orchestra each performer knows his or her role without being micromanaged.

Don’t buy market share. Figure out how to earn it.

The CEO announces that the purpose of the firm is to improve the lives of the customers and the lives of the firm's stakeholders and the quality of the planet. The company will give fair compensation to all the stakeholders and the CEO will not earn more than 20 times the median income of his employees. He will want his employees to rate him, just as he also has to rate them.

There are times when a market such as housing, transportation or the stock or mortgage market keep rising and people with capital want to join in this growth. Soon the markets become overheated, partly because of the abundance of investment money and speculation. This is when the government should raise interest rates and increase the cost of borrowed money. Governments are shy about doing this because it could cause the very recession. Yet this is the best time to do this so that the inevitable recession never reaches the magnitude of the recent Great Recession.