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Kotler and Prahalad are some of the most widely published marketing thought-leaders, and recently spoke at the Birmingham Metropole on new approaches to defining value in a commoditised world.
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David Hood (left) event Chair and Community Director of THE marketing leaders with Philip Kotler (Speaker) |
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Marketers under pressure
Kotler spoke of the ongoing pressure on marketing executives to do more with fewer resources. He alluded to some technological innovations but mentioned that these ultimately spread across a marketplace, diminishing their effectiveness. Ultimately he concluded that new creative approaches are the most effective routes out of this spiral.
It’s not all at the top
Prahalad on the other hand spoke of addressing markets traditionally ignored, referring to his 2004 work “The Fortune at the Bottom of the Pyramid” market consisting of five billion people with an annual purchasing power of less than US $2,000. Among many examples, the mobile phone market has done particularly well in serving this segment: in India alone the major carriers have a combined market capitalization of US $75 billion.
Overall the conference was an engaging day filled with interesting original thinking.
By Tom Kahrl
Change Management Consultant, Ikonica
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From left: Graham Jarvis, Editor and event Chair David Hood, Community Director (both from THE marketing leaders) with CK Prahalad (Presenter) and Bob MacKenzie (Benchmark for Business - Organisers)
Photos by Tom Kahrl
http://www.benchmarkforbusiness.com/
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Tom Kahrl reviews Kotler and Prahalad’s presentations at the recent Benchmark for Business event, chaired by TML’s David Hood
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