eventsLaura Riesmarketing summitPhilip KotlerSolaireToday's Key Positioning Principles in the 21st CenturyWMSWMS 2020World Marketing SummitWorld Marketing Summit Philippines
World Marketing Summit Philippines 2020: Today's Key Positioning Principles in the 21st Century
Being part of the marketing team 3 years back was all by accident. But learning the ins and out of marketing is definitely not. Learning, no matter what field you are in does not happen by chance but by choice. If you want to learn something, you have to do your part.
I can clearly remember how I struggle when I first started my role as part of marketing. I lack the skills and knowledge that is needed to carry out my daily duties. Although I have my boss and teammates to help me, working remotely and being mountains and seas away from them was a big challenge.
Good thing that pretty much everything is one click away from the internet. Most of the things I learned are through self-study. While the internet is a huge library, attending seminars and conferences won't hurt. In fact, it would be a great avenue to meet people in the same field and learn the best practices from the speakers and attendees.
I was one of the lucky bloggers who was given the chance to cover the World Marketing Summit 2020. The one-day event was held at the Solaire Resort and Casino on 22 February. World Marketing Summit (WMS) is founded in 2010 by Prof. Philip Kotler, the world-leading marketing guru, and father of modern marketing. World Marketing Summit was first held in 2012 in Dhaka, Bangladesh. In 2013, more than 4,000 delegates participated in WMS held in Kuala Lumpur Malaysia, Tokyo Japan from 2014-2016. The demand for WMS continued and successful events were held in Canada, Bahrain, Korea, Chile, Bolivia, Italy, Turkey, India, Singapore, Myanmar, Thailand, and the United Kingdom from 2017-2019.
WMS is a global alliance; a collaboration that unites the best minds from corporate sphere working in concert with public sector and community leaders to transform and translate marketing ideas and solutions into tackling real and focused socioeconomic issues, and creating sustainable solutions through marketing-centric initiatives that are driven by social responsibility acting as their fulcrum. The aim and unique vision of the WMS are to elevate marketing from a corporate tool to a social equalizer that will deliver through a global stratagem “The New Paradigm of Marketing for the 21st century” while keeping its promise of: “Creating a Better World Through Marketing”.
The equally talented speakers came from different parts of the globe and are all experts in their chosen field. The line up includes Laura Ries, a marketing strategist, author of marketing books & Advertising/ Branding Consultant, Sadia Kibria, who is also the Chief Executive Officer of the World Marketing Summit and Moran Cerf, a French neuroscientist and business professor at the Kellogg School of Management.
Among all the topics discussed, I liked the clarity and authenticity of Laura. It looks so simple that many companies take these steps for granted. As a result, not many brands thrive with the demands of the modern world. Let me share with you "Today's Key Positioning Principles in the 21st Century" as discussed by Laura Ries.
1. Global not national
An example cited by Laura is exportation. A country gets rich by selling to other countries.
2. Competitor not customer
While all the brands claim that they are better than others, only the result or the outcome can speak for itself. It's hard to win by being good or better. You win by being different from everyone else. Red Bull is the number 1 energy drink and there have been a lot of competitors who tried to beat this brand. Most of them have the same packaging and size as Red Bull but none of them was a close competitor. When Monster came out, its huge size made all the difference and is now at the number 2 spot for energy drinks.
3. Narrow not broad
When you take your brand globally, you should narrow your product line and focus on these products.
4. Multiple, not single brands
You can grow your brand by launching multiple brands. An example is Apple who launched 4 different product lines, namely Macintosh, iPod, iPhone, and iPad, all of which are doing good in their specific category.
5. Visual not just verbal
Every brand should create a visual hammer, something that would create a recall when people think of your brand.
The first-ever World Marketing Summit in the Philippines was a huge success! It was packed with insightful and useful ideas that would take marketing a notch higher. Hoping for a bigger and brighter World Marketing Summit in 2021!
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