Poor firms ignore their competitors; average firms copy their competitors; winning firms lead their competitors.
Philip KotlerRead
The art of marketing is the art of brand building. If you arenot a brand, you are a commodity. Then price is everything and the low-cost producer is the only winner.
Interpretation
What this quote means
Successful marketing focuses on building a strong brand rather than simply reducing prices.
This quote by Philip Kotler emphasizes that effective marketing involves creating and nurturing a brand identity. When a company fails to build a brand, it risks being perceived merely as a commodity, where competition revolves solely around price, allowing the lowest-cost provider to dominate the market.
Themes
MarketingBrandingIdentityCommodityBusiness
In practice
Example use cases
In a marketing conference, when discussing strategies, one might quote Kotler to highlight the importance of branding.
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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.
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Companies pay too much attention to the cost of doing something. They should worry more about the cost of not doing it.
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Marketing is not the art of finding clever ways to dispose of what you make. It is the art of creating genuine customer value.
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