Welcome!

News Feed Item

Tencent SY Lau Dialogues with Mr. Philip Kotler, the Father of Modern Marketing

China Practices Meet Western Marketing Wisdom

BEIJING, March 13, 2014 /PRNewswire/ -- Tencent, a leading provider of comprehensive Internet services in China, recently hosted the MINDSTORM forum on Managing the New Marketing in Beijing. Mr. SY Lau, president of Online Media Group and senior executive vice president of Tencent, led the discussion along with Mr. Philip Kotler, known as the father of modern marketing and a key force behind Marketing 3.0. The participants included over 100 marketing elites from local Chinese and multinational companies as well as media.

Tencent SY Lau Dialogues with Mr. Philip Kotler on Managing the New Marketing

The forum urges all marketers to be prepared for the opportunities and challenges brought by new media and technology, and re-defines marketing's value to brands in the era of the Internet. SY Lau iterated that the core of marketing is to create demand in the marketplace based on comprehensive understanding of consumer behavior, and to fulfill customers' needs by providing a superior product. Marketers in China must take the lead to build a bridge between marketing investments and business decision making. Mr. Kotler emphasized that marketing has to evolve, and the enterprise must shift toward more customer-led strategies if it is to last.

Marketing Will Never Die

"The rise of the Internet and big data makes old ways of doing marketing obsolete. Big data makes traditional research ineffective, and the rise of social media has fragmented consumer segmentation. The long-tail market has overturned the 20/80 rules," said SY Lau.

However, Mr. Kotler said the conclusion that "Marketing is dead" is overblown and that organizations need to adopt marketing strategies that match their new environment.

Mr. Kotler continued, "Consumers today are becoming increasingly empowered, and are playing a more active role in influencing consumption behavior within the community. The ignorance of consumer needs causes failure for many companies. CMOs will no longer stick to old traditions and will become more digital-savvy in the coming years."

Best Practices for Building A Marketing-Centric Organization

Being a link between consumer and media platforms, marketing is in the best position to detect business opportunities. Mr. Kotler emphasized, "In addition to its traditional role, marketers must do a good job in integrating media resources and enhancing digital marketing strategic planning. CEOs will view their marketing department as a front-end resource in allocating internal resources and understanding market trends."

SY Lau resonated Mr. Kotler's insights: "The rise of digital media further elevates the significance of marketing. The duty and mission of providing an enlightening user experience extends to everyone, from CEO to employee. Upholding the user experience is indeed the first call of duty for every Tencent employee. "

Marketing 3.0 Calls for "Shifting toward Humanism"

Mr. Lau fully agrees with Mr. Kotler that a company should take on corporate social responsibility and proliferate humanism. He encourages companies operating in China to have the courage to stand for something more in the eyes of their consumers.

Tencent, Lau said, is an Internet company that brings people together. Because of its wider range of product categories, from games, to media, to Internet finance, to eCommerce services, Tencent hopes it can inspire and empower a new generation of Chinese people to utilize the power of the Internet in a positive manner, to unleash their imagination, to unleash their productivity, and finally to realize their dreams.

Five Best Practices for Chinese Marketers

Based on shared understanding with Mr. Kotler on the tasks of the CMO (http://www.bainbridge.com.au/blog/philipkotlerdiscussesmarketing), SY Lau suggested these five best practices for Chinese enterprises to build marketing-centric organizations:

  • Look beyond the scope and duty of the marketing department
  • Measure the business value created by marketing over time
  • Consistently uncover actionable consumer insights
  • Embrace digital capabilities to unleash the power of big data in a way that results in more product innovation and escalations in business values
  • Regain consumer trust by returning to an integrity-based marketing culture.

"It was a rare opportunity to hear two marketing pioneers, Philip Kotler and SY Lau, lay forth their vision of marketing in the digital age. We in the MINDSTORM audience came away with fresh insights and ideas for making our businesses more marketing-centric, and therefore more successful," said Kaize Ma, marketing and consumer communications director, Great China Area, Nestle

Photo - http://photos.prnewswire.com/prnh/20140312/CN82636

SOURCE Tencent

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...