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Marketing 5.0

Technology for Humanity

Hermawan Kartajaya, Philip Kotler and Iwan Setiawan

Wiley, 2021

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The marketing landscape is shifting, as digitalization goes widespread and next technologies go mainstream, say marketing experts Hermawan Kartajaya, Philip Kotler and Iwan Setiawan. They propose a new strategy – Marketing 5.0, which embraces next technology: artificial intelligence (AI), sensor technology, the internet of things (IoT) and natural language processing (NLP). Human mimicking technologies empower you to better create, communicate, deliver and enhance the value of your customer experience.

Summary

Today’s marketers must anticipate the needs and desires of five generations.

Modern marketers must contend with a historic first. Today, five different generations coexist: boomers, generation X, Y and Z and alpha. In the next 10 years, marketers – steered by leaders from generation X and supported by middle managers from generation Y – must earn generation Z and alpha’s trust to remain competitive.

The youngest generation (alpha) has consumed and engaged with digital content since childhood, and holds significant influence over those with buying power. Connecting with younger generations entails a new marketing strategy – Marketing 5.0 – driven by next technology, which strives to improve people’s lives.

Target boomers and gen X by understanding their stages of life:

The first two decades of life center around learning, development, exploration and identity construction.
The second two decades center around transitioning from learning to work, and often involve risk-taking.
The third stage of life typically involves parenting, contributing to society and mentoring ...

About the Authors

Marketing professor at Kellogg School of Management Philip Kotler is a Wall Street Journal Most Influential Business Thinker. MarkPlus, Inc.’s founder and executive chairman Hermawan Kartajaya is chairman of the Asia Council for Small Business and co-founder of the Asia Marketing Federation. Editor-in-chief of Marketeers Iwan Setiawan is chief executive officer of MarkPlus, Inc.

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N. P. 3 years ago

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Marketing 5.0

Technology for Humanity

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Summary

Today’s marketers must anticipate the needs and desires of five generations.

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