Kuala Lumpur: Asian marketers should change their mindset and style to go forward by switching to global brand marketing, said “Father of Modern Marketing”, professor Philip Kotler.
He said Asian companies needed a better understanding of the role that the marketing department could play in turning customer insight into profitable growth.
“Powerful forces of globalization and technological advances are causing today’s market to change at an incredible pace with intense competition from growing economies of China and India, growing consumer price and value, the old marketing tradition may be failing us,” the marketing guru said at a press conference in Malaysia on the eve of a seminar on “21st Century Marketing” jointly organized by the Institute of Marketing Malaysia (IMM), Universiti Putra Malaysia and Telekom Malaysia Bhd.
Earlier, he said, big companies were doing well recording positive growth by adapting new concepts and applied market positioning, research and using latest technologies.
He would like to see Malaysia have one established home brand before strengthening it locally and then going global like they have done in Brazil, India and China.
“Customer relationship management is important to ensure this. The brand will be considered a success if the company has loyal customers. There is no point in continuing to attract new customers if you failed to keep them,” he said.