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Dr. Philip Kotler is one of the world’s foremost experts on the strategic practice

of marketing and was voted the first Leader in Marketing Thought by the

American Marketing Association. The S.C. Johnson & Son Distinguished

Professor of International Marketing at the Kellogg School of Management of

Northwestern University, he is the author of many influential books.

His newest book coming out this spring from AMACOM is ACCORDING TO

KOTLER: The World’s Foremost Authority on Marketing Answers Your

Questions.

Question:

Which megatrends do we have to consider for the future?

Philip Kotler:

The economic landscape has been fundamentally altered by technology and

globalization. Companies anywhere can now compete anywhere, thanks to the

Internet and more free trade. The major economic force is hypercompetition,

namely, companies are able to produce more goods than can be sold, putting a

lot of pressure on price. This also drives companies to build in more

differentiation. However, a lot of the differentiation is psychological, not real.

Even then, a company’s current advantage doesn’t last very long in an economy

where any advantage can be copied rapidly.

Question:

Do you think that honing a strong brand image is enough to sell a product?

Philip Kotler:

Normally not. Those who favor image believe that a strong brand image can

create preference in the absence of other differences. How can you explain

Marlboro’s success except through the cowboy image? Others think that images

are converging and losing their power to command high brand premiums. The

key need is to develop a distinctive offering, not simply a distinctive image. The

offering can be distinctive in features, styling, services, service support,

guarantees, and a host of other factors that will make one value proposition

superior to another in the eyes of the beholders. I am in favor of building a

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