Summary of Marketing 4.0

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Rating

8

Qualities

  • Applicable
  • Innovative

Recommendation

Digital technology and hyper-connectivity permanently changed consumer behavior. Philip Kotler, the “father of modern marketing,” and co-authors Hermawan Kartajaya and Iwan Setiawan provide a framework for marketing in the digital age. They examine emerging trends, define how consumers now make purchases, and offer strategies to reach and engage your brand’s customers. They explain how to enhance your customers’ experience online and offline, and how to convert consumers into brand advocates. Professional marketers will be familiar with most of their tenets but can gain valuable new insights about applying them. getAbstract recommends this well-organized handbook as a great introduction to – or refresher about – digital marketing.

About the Authors

Philip Kotler is an international marketing professor at the Kellogg School of Management at Northwestern University. The Wall Street Journal ranks him among the top six most influential business thinkers. Hermawan Kartajaya founded the Indonesia marketing consulting firm MarkPlus, where Iwan Setiawan, the editor in chief of Marketeers, is chief operating officer.  

 

Summary

Making the Transition from Marketing 3.0 to Marketing 4.0

As the Internet leads business to become more global and inclusive, parallel technological advances make consumer items more affordable to people in emerging mass markets. The reverse is also true: Products created for developing markets – such as GE’s portable electrocardiogram machine designed for rural areas of India – later catch on in established markets elsewhere. Companies are also changing their product’s path from vertical to horizontal. Instead of controlling every aspect of development, production and distribution, they now collaborate. For example, Procter & Gamble “connects and develops” with outside innovators.

The generation of “digital natives,” those who grew up with digital technology, is refining current trends, such as where and when people shop. These new consumers are young, urban, middle-class, mobile and connected; they make purchases on their own schedule and in their own way. They research items online, even when shopping at a physical location, and they value interaction and engagement. They trust their social networks. People now trust the “f-factor” – “...


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Comment on this summary

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    J. M. 1 year ago
    Where can I buy this book (for ipad)? Unavailable in ibooks store in English.
  • Avatar
    O. H. 2 years ago
    The summary is good and innovative but the concepts aren’t intuitive and are hard to apply
  • Avatar
    R. R. 2 years ago
    The section on content marketing gave information that I thought was valuable.