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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.
Philip Kotler
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Philip Kotler
Age: 93
Born: 1931
Born: May 27
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Businessperson
Economist
Mathematician
University Teacher
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Chicago
Illinois
Attention
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Marketing
Companies
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Company
More quotes by Philip Kotler
Great insight comes from seeing something as odd and finding out why.
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A country's middle class is its bedrock.
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Most of the productivity gains appear to go to the top 1 percent. Most people don't have enough income and as a result, they borrow additional money by using their credit card and they fall into high debt. The result of the growing income gap is a slower growing GDP (too few people with money to spend) and a rising tide of indebtedness.
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CEOs need to produce continuous growth in sales and profits. Yet they must also invest in sustainability and social responsibility, which then leave them less money for financing their growth.
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The theory of marketing is solid but the practice of marketing leaves much to be desired.
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People who lack material wealth, who are poor, won't be very happy. They will be obsessed with meeting their bills at pay day. And people who have an abundance of material goods are often not happy.
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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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There is no such thing as a commodity. It is simply a product waiting to be differentiated.
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Your company does not belong inmarkets where it cannot be the best.
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Our infrastructure of bridges, roads and ports has been given a D-level rating by many civil engineer societies. The government should shift some money from the Defense budget and hire companies to fix our infrastructure. As for non-construction workers, we need to do job retraining in those growing areas where more skilled workers will be needed.
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Poor firms ignore their competitors average firms copy their competitors winning firms lead their competitors.
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Integrated marketing communications is a way of looking at the whole marketing process from the view point of the customer.
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Many great ideas need refreshment and deeper analysis. Freedom, for example, is a great idea but it has become a cliché.
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The most important thing is to forecast where customers are moving, and be in front of them.
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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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When it comes to efficiency and effectiveness, I would always start with effectiveness. I am interested in achieving a certain outcome. Only secondarily do I worry about achieving it as efficiently as possible.
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People are more comfortable with the familiar. It takes selling a big dream that comes with excellent income possibility to get someone to leave his or her comfort zone.
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In working on any one problem, such as higher minimum wages, so many other issues come into play, such as some businesses possibly closing down, thus creating fewer jobs and more unemployment and incentivizing companies to import more goods from abroad, which leads to even less employment at home, and so on.
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Today you have to run faster to stay in place.
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In America, we are not lacking solutions. We are lacking a two-party system that is willing to agree on solutions. Part of this is due to rigid ideological positioning that substitutes for really thinking about the facts and solutions.
Philip Kotler
