Reflection on Fireside Chat with Professor Philip Kotler

What I have learned in “Reflection on Fireside Chat with Professor Philip Kotler” is that there is a
huge impact of marketing in every companies especially in the time of the corona virus pandemic. Just
like how Professor Philip Kotler describe how businesses remained open for customers, marketers have
special role in the process of every companies to stay in the market despite of the huge negative impacts
of the corono virus pandemic, he exampled that the groceries marketers keep up with their strategies to
remain their business open, hotes on the other ways are used for alternatives, shopping malls keep up
with online seeling and customer deliverier. Marketers are still being smart about ways to keep the
companies going and selling, sending and delivering their prosucts and services amidst pandemic.
The corona virus pandemic crisis has led the way to discover new consumer behaviors and
consumer sentiments. The marketers must know where to start solving problems brought by the
pandemic wherein people has shifted into protection mode. People must be wearing masks, make social
distancing, and using technology more often is the reason why most companies has suffered losses in
their physical stores which caters the needs and wants of every shoppers passing by. The pleas goes
more around in the pandemic for citizens to strictly follow the government safety rules and guidelines.
This has kept many people to stay at home which caused major major shifts in consumer behavioral
trends. Marketers need to assess the need for the physical goods to place pressure on new channels,
wherein the demand for that particular good for e-commerce has raised to new levels. Marketers who
venture out with different industries, whether it may be groceries and convenience stores has raised their
massive concerns for how they would drive more customers toward frictionless transactions and systems.
Marketers must, however, also observe that some consumer behavior changes are just temporary, but
many may be more permanent. As companies and consumers move towards the current mode of survival
or the new normal, the momentum on the other side of digital-experience acceptance is unlikely to be
reversed as many people are forced by many circumstances to try out new things.
Marketers have pushed themselves to present their market offerings with empathy and transparency
while using technology and media in more agile ways. With the use of technology, marketers want to
construct more rapid-response operating models internally and externally with their company in order to
promote social distancing and show a commitment to public safety. The mantra of marketing is observe
create value, communicate, and deliver value to a target market with profit and satisfaction for the
customers. The marketers in different industries are very busy in doing what they can in seizing the
market- relentlessly to be able to generate positive income and for the survival of the company in the
market.
Digital transformation of marketers continued rapidly even as other budgets are cut. Covid pandemic
hasn’t stopped marketers from crafting and investing in furthering digital transformation and marketing
tech. New technologies moves as fast as they can and getting their processes and their artificial
intelligence and so on digital. Marketers in ever industry and organizations must have a digital presence
to be able to stay relevant to customers and remain competitive in the marketplace. The use of virtual
reality pushed the new pandemic-driven sales to skyrocket. The ongoing covid pandemic have exploded
technology and social media usage to create traffic in online shopping platforms, forcing many companies
to embrace emerging technologies such as Augmented Reality (AR) and virtual stores or the e-commerce
to remain competitive and engaged with their customers. AR is not a new concept to marketers, however,
during the pandemic, the AR concept has matured. Companies have transferred their static and 2D
marketing campaigns and online shopping tools to a more interactive online marketing strategies.
Consumers changes a lot between boomers and zoomers or the millenials. Food habits and
preferences must be observed by marketers.Millenials are already fluent in digital technology, virtual living
it has become an even more entrenched part of their lives during the pandemic. Marketers must know
that the Millennials and Generation Z are also one of the key consumer segments in the market.
Millennials and Generation Z are more wary of spending, they will increasingly look for value in products
and services. Brand marketers should review their pricing strategies and find more ways to add value to
their existing products and services and even to the new market offerings. Millennials and Generation Z
place high value on social and environmental concerns, and during the pandemic, their expectations for
products and services have only increased. Marketers that find ways to help those in need will appeal to
this consumer segment.
Businesses are now seeing a change from what we call shareholder thinking to stakeholder thinking.
The most important stakeholders are your employees, and sustainability and social responsibility is as
well more important during the pandemic. Marketing changes in short period of time and how ideas have
occurred and so on and so forth with social marketing, social cause marketing, poverty, income
distribution problems, pollution etc.
Holistic view of marketing mindset sees the environment and the factors that are leading to a
possible interest of buying. Mapping the customers journey which made of positive and negative touch
points for a sale to take place. Holistic marketing mindset generates a united and positive business
image. So it invigorate customers to purchase a business’s products or services rather than going to a
competitor. Holistic marketing mindset contemplates a business and all its parts. It sees a business as
one entirety. businesses need a holistic marketing approach. Include the different systems, services,
processes and customer touch points. The process can prove advantageous to small businesses as well
as larger companies. By considering the internal marketing, integrated marketing, performance marketing
components, the holistic marketing allows you to generate a comprehensive strategic business plan that
covers the whole business system.
Holistic marketing makes a brand more consistent and cohesive across all aspects of an entity,
marketing channels and its messages. As a result, holistic marketing can help an entity to get more out of
its marketing efforts.