Skip to main content

Metis Talent Management brand new website goes live

Last fortnight was a joy, as we came to the launch of Metis Talent Management's website. Metis is a Singapore based organisation that advises clients on Talent Management with a primary focus on Talent Development and Organisation Design. Best wishes to team Metis!

The other great thing is how folks at Metis approached this by going in for a full overhaul, including getting a new logo and brand colours. Do leave your comments on what you feel about the website and the logo!!

Marketing 4.0 by Kotler et al. A great mind expander

For generations of MBA students who have grown up on the staple of the Marketing Management that so lovingly called just 'Kotler', the book, yet another one bearing Kotler's name, brings in a bagful of fresh air.

Marketing 4.0: Moving from Traditional to Digital

If management or business books can be classified as instructional, conceptual, feel good and general read, this book qualifies as all four. Add to that keen observation skills of the authors as well as intellectual intrigue present in the book, the combination of which makes it a must-read for anyone who wants to be informed of the evolutionary directions in marketing.

This book follows (not succeeds) “Marketing 3.0”, published by the same authors(Kotler, Kartajaya and Setiwan) in the year 2010. Perhaps the fact that Kotler is an academician and researcher par-excellence and Kartajaya and Setiwan happen to be practicing marketers, provides this book a unique perspective, one that is neither too academic in nature(and therefore lacking practical applications), nor lacking in conceptual constructs as books authored by practitioners typically tend to be.

If the Kotler school of thinking in marketing has defined Marketing 1.0 as Product-Centric, Marketing 2.0 as Customer Centric, the eponymous book Marketing 3.0 took it further by identifying it as Human-Centric Marketing. Marketing 4.0 is the first book by these authors after technology has successfully invaded the field of marketing and has massively impacted both the brands and the customers. It, therefore, reflects the new reality in which the digital and physical facets of marketing are now getting increasingly unified. That is why this book is a compelling read.

First, this book brings out a new perspective on the oft researched and published concept of buyer journey. The McKinsey loyalty loop, now widely followed, brought forth the concept of customer’s role in brand advocacy, and how it is an outcome of loyalty. Though this loop focused on the conceptual elements of how the traditional buyer journey is sought to be leveraged by marketers, it has it stops short of describing elements of measurability as the customer progresses from one stage to another. The authors have used a new lens to look at this journey and provided two new metrics that measure success. PAR, or Purchase Action Ratio, look at the ratio of customers who purchase that brand, to those are aware of the brand. BAR, the Brand Advocacy Ratio reflects the ratio of those who advocate the brand versus those who are customers of the brand. Ideally, brands would like to see a higher PAR or BAR ratio. It surprises one, therefore, that the BAR can be >1, which means some non-customers can be brand advocates too! This has deep implications for the marketers, who not just have to satisfy customers, but stay engaged with a large number of non-customers too, as they hold influence over other potential customers.

The second aspect is that the book uses the concept of 5As (Aware, Appeal, Ask, Act, and Advocacy) to define brand archetypes as well as identify imperatives for marketers, namely, increase attraction, optimize curiosity, increase commitment and increase affinity. This model can be very valuable for the marketers in defining objectives of marketing campaigns, as they attempt to take customers across stages of the buying journey.

On the negative side, If there is one element that is felt to starkly missing, it is the variable called time, which is almost taken to be ‘I have no time’ or ‘I want now’ by buyers, customers and consumers in this digital era. Instant information seeking behaviour, or ability to purchase at the tap of a phone, or the overnight negative word of mouth wave spreading through social media and channels such as Whatsapp perhaps merit an examination too, for they hold huge significance for marketers and brands.

Whether this book is the final word in marketing? The answer is easily a no. Whether the concepts in this book will be obsolete very soon? Again the answer is likely no, because each of the 4 stages of marketing can be concurrently seen in practice even today, and therefore, true to the always evolving nature of marketing, there is always a plausibility of something new in the future which will co-exist with these concepts.

Comments

Popular posts from this blog

THE WORLD IS NOT FLAT - THE BOOK IS!

Just finished reading 'The World is Flat' by Thomas Friedman. The subtitle suggests it is the 'A brief History of the Globalized World in the 21st Century'.

Once again an attempt at creating a stereotype. This book is targetted at western audiences, who have probably read about outsourcing etc through the media, but have not had the chance to read it in the form of a story, something the three times Pulitzer awardee is very good at.

Mr. Friedman conjures up images of Indian IT companies as replacing the jobs in the US, but he forgets some parts of the story, viz, most of the Indian Tier 1 IT services providers have strong sales arms in the US, which have many an American employed.Outsourcing is not new at all. A famous acedemician recently commented that Americans outsourced their undergraduate education to India decades ago. That remark, made half in jest, alluded to the large number of Indian students who went to(and still go) US to after earning their basic engineeri…

CIO India is launched but wondering who gets copies.

While International Media GroupIDG has brought one of its most popular IT publications for managers CIO, subscribing to it is a pain. The first issue of CIO India was published in Nov 2005 and according to IDG, currently distributes 6000 copies across India. I wonder who gets them.Having followed US edition of CIO (It is absolutely first rate) for a while now, I was quite delighted to know there is an Indian edition too. However, try to subscribe to a paper copy. First, there is no concept of paid subscription. One need to register a request for a print subscription, and that begins an endless wait to hear whether your subscription was approved or not. (I registered in May 2007 and am still waiting to hear back from them!). And no, CIO does not sell off the shelf, it only comes into your letter box.I wish this subscription request and acceptance process is improved significantly if CIO India has to indeed make a mark. I have sent multiple emails over the last three quarters and follow…

INNOVATION- A CLICHE ALREADY?

The word INNOVATION is part of daily management lingo. People mean different things by this word. To see what I mean by this difference, look at the dictionary meaning and thesaurus meaning for INNOVATION. Are they indeed the same? I bet you would find the thesaurus meaning much more stretched in meaning.
We will start a journey at this blog to comment upon the latest known thoughts on Innovation. We shall start soon with a book by Vijay Govindarajan and Chris Trimble titled 10 Rules for Strategic Innovators: From Idea to Execution. If you have any thoughts, let the debate begin right here! To me however, plain and simple, a hand wound charger for a mobile phone is ample proof that Innovation is alive! It also suggests that innovation has a context. This device might appear utterly useless to most of us, but do go and check the villages where there are power supply issues ( No I did not mean Delhi, though I agree the resemblances are close!) and the marginal importance of such a contra…