A thought worth thinking: Marketing 3.0:

From product to customers to human spirit*

Markeitng 3.0 is the new thougth among marketers and brand mavens. It seems like a good concept. It brings me the smell that companies even while its profiteering, will bring some good to peole who used to make their purchase decisions on the needs that were created by the companies.

According to Philip Kotler;

My colleagues and I believe that Mktg 1.0 represented an effort to establish the superior performance of a product ("Tide cleans better," "Volvo is safety,")  In Mktg 2.0, marketing added an emotional dimension to strengthen its appeal to prospective customers.  We are entering Mktg 3.0 where marketers are adding a human spirit dimension.  Mktg 1.0 and 2.0 is how about a product or offering will serve you.  Mktg 3.0 is how a product and its company are sensitive to social and economic issues that are a concern to everyone.  Companies that conduct themselves ecologically and create real value that aligns with the social good will be competitively favored.  The new media will increasingly carry more favorable statements about "caring" companies" and this will influence the buying choices of more consumers.

 Kotler tries to explain the concept in the following picture: 

Marketing is always subject to changes and make over as people are getting more conscious about brand and its characters. As a process, marketing has gone through various phases. In marketing 1.0 we saw a product based claims. Then with marketing 2.0, organisations added the emotional trait of brands that can capture people’s mind. Now it’s time for Marketing 3.0. Here brands are becoming more human. They are trying to tell the world that we are part of your life and we help you to achieve a better life (not just standard of living). It basically talks about the social concerns and commitments that a brand has for its pertaining society and community.

In 2010. Marc Pritchard, global marketing officer at Procter & Gamble mentioned about marketing 3.0 at the canes festival. “The world is heading towards Marketing 3.0 and that means marketing as a function needs to overhaul itself. We are not there yet, but we are moving towards an inflection point. We are shifting to purpose inspired brand building, a shift from marketing to serving,” He adds that consumers today want to know that beyond the product attribute, why is this brand good for me?.

In this scenario marketers will be compelled to think about the human spirit and values of their brand and come up with plan that can benefit the mankind. It will more concentrate on conversations with people. This will lead to the increased usage of social media and other new media platforms where people and brands are available real time.

* title of the book by Philip Kotler, Hermawan Kartajaya & Iwan Setiawan