Chapter 14 Marketing and Value Creation
Marketing Must Prevent Customer Value Starvation to Increase Profits
The role of marketing is to create value for all stakeholders according to Phil Kotler. Stakeholders include the owners, customers, employees, partners, society, and environment.
I want to talk about how marketing can create long-term value and not short-term value focused only on selling more. What is bothersome to me is that all of us have horror stories about our experience with our suppliers, be they banks, insurance companies, white goods companies, laptop and mobile companies etc. The problems are payment related, information related (sometimes getting wrong information on the website), service related, ...
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