The New Wave Marketing

Today I received an SMS message from my dear friend and mentor Pak Hermawan Kartajaya Founder of Markplus Inc, about his contribution and writing of The New Wave Marketing Series 100 at Kompas.com from 30 Aug 2008 to 11 Dec 2008.

The 100 essays will be the core content of the book with the same title that will be published by Gramedia Pustaka Utama and launched at The Markplus Conference described in more detail below.

Hermawan Kartajaya is the Asean’s Marketing Guru and the pride of Indonesia. The biggest joy for me is to hear that he will co-author with Philip Kotler a new book with the same title “New Wave Marketing”.

I am sure anyone in the marketing world especially those that has taken “marketing” as a subject in their course will remember the thick blue book of “Principles of Marketing” by Philip Kotler. ( Of course, there has been many new editions of the book that may be of different colors now) So I dont need any further introduction of this world famous “Father of Modern Marketing for International Market” ( more on: Phlip Kotler Books)

So What’s “New Wave Marketing”?

According to Hermawan, the famous nine principles of marketing as we all have learned to know and applied in our marketing strategies need to be revised and adapt to the modern world today and these new principles will be known as New Wave Marketing. Whether or not they will actually replaced the old terms from now on has not been announced.

Just to point out, The nine principles of marketing referred to as “Legacy Marketing” are:

1. Segmentation,
2. Targeting,
3. Positioning,
4. Differentiation,
5. Marketing-Mix (Product, Price, Place, Promotion),
6. Selling,
7. Brand,
8. Service,
9. Process

12 C’s of “New Wave Marketing”

The new elements or principles has now been termed the 12 C’s of “New Wave Marketing”

1. Communitization,
2. Confirming,
3. Clarifying,
4. Coding,
5. Crowd-Combo (Co-Creation, Currency, Communal Activation, Conversation),
6. Commercialization,
7. Character,
8. Caring,
9. Collaboration

Note: For those you who are very detail and counted all the C’s

You would say “wait a minute, there are actually 13 C’s” So I shall explain, C number 5 - Crowd-Combo is actually made up of 4C’s (Co-Creation, Currency, Communal Activation, Conversation) like the 4P’s in Marketing. So without counting Crowd-Combo as one of the C, you will have 12 C’s. “phew” Here’s the original post on the 12 C’s by Hermawan Kartajaya.

Hermawan also pointed out that New Wave Marketing is about achieving high impact with low budget. While Legacy Marketing needs high budget to achieve high impact.

After reading through the posts at Kompas.com by Hermawan Kartajaya about the New Wave Marketing and how New Wave Marketers must act and adapt, I can conclude my understanding as: The New Wave Marketing elements are actually a replacement of terms from the 9 principles of marketing which better described the way marketers use them and apply them in this modern world.

You will get a clearer understanding if you look at how I laid them out for you below:

• Segmentation => Communitization
• Targeting => Confirming
• Positioning => Clarifying
• Differentiation => Coding
• Marketing-Mix => Crowd-Combo
• Product => Co-Creation
• Price => Currency
• Place =>Communal Activation
• Promotion => Conversation
• Selling => Commercialization
• Brand => Character
• Service => Caring
• Process => Collaboration

These new terms do make sense with the new world today. The changes in information technology especially the internet has revolutionized how human interact with one another, creating more opportunities and threats to all businesses. Just like the 9 principles of Marketing that needs adaption to the new world, we too need to adapt to the New Wave Marketing and apply them to our business to face this new world”

“We cannot Live Without Changes”

“It is not the Strongest that will Survive, BUT the Most Adaptable” -Jong Yong Yun (CEO Samsung)

I will apply these new wave marketing to some examples in my following posts. You can also watch a video I created of some of the New Wave Maketers who have already applied the New Wave Marketing principles below.

New Wave Marketing on Youtube

You can read more about Hermawan’s writing of the New Wave Marketing daily at Kompas.com under Bisnis Keuangan - New Wave Marketing. (However, they are written in Bahasa Indonesia, you will have to wait for the new book with Philip Kotler for English version)

And if you are in Jakarta, you should take some time to attend the Markplus Conference 2009 “Riding the New Wave”

Applying The New Wave Marketing Principles

Pak Hermawan and Markplus instantly apply the New Wave Marketing principles in the upcoming launch of its Markplus Conference and his book by holding a competition.

Participants will help promote “New Wave Marketing” and “Markplus” online by submiting either a picture to Flickr, a video to Youtube and/or a story to their personal blogs.

By entering into this competition and submitting these materials online, participants will actually help promote “Markplus” and “New Wave Marketing” since these tags are a requirement to qualify for the competition.

You can read more about the detail of the competition from this brochure on New Wave Marketing & New Wave Marketing Criteria

The prize:

There are 6 prizes to be won, 2 from each category and the winner will win a Nokia N3500 handphone each sponsored by Nokia!

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• Philip Kotler Books
• Internet Changed our Lives
• Best Young Marketer Award

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