‘Winning Global Markets - How Businesses Invest and Prosper in the World's High-Growth Cities’ book review by Gloria Buono-Daly

“ . . . City markets in developing countries are growing at different rates in population, household number and size, household and per capita income, educational level and talent, age distribution, and the mix of supply resources to meet demand... ~~ Philip and Milton Kotler, authors, "Winning Global Markets" Philip Kotler , marketing author, consultant, and professor; currently the S. C. Johnson Distinguished Professor of International Marketing at the Kellogg School of Management at Northwestern University and was the first person to receive the "Leader in Marketing Thought" award voted on by the academic members of the American Marketing Association; and Milton Kotler, Founder and Chairman of Kotler Marketing Group USA   @KotlerOnGrowth Quote above from Chapter 1 (pg 27) of "Winning Global Markets;" (Photo above left, Prof. Kotler Stamp issued by Indonesia, 2003 courtesy of Wikimedia.org.

Photo below left of book cover courtesy Wiley.com and Winning Global Markets authors Philip and Milton Kotler

Just when marketers implement social media, programmatic advertising and mobile programs, etc., to optimize consumer marketing campaigns and assume strategic roles with their global enterprises are enough to capture target audiences, along comes "Winning Global Markets - How Businesses Invest and Prosper in the World's High-Growth Cities," an insightful global marketing resource about the latest demographic shifts and marketing trends for targeting the right consumers.

Geo-targeting alone is no longer enough to reach consumers worldwide, and "Winning Global Markets - How Businesses Invest and Prosper in the World's High-Growth Cities," describes the importance of why multicultural marketing is needed in order to effectively market to consumers in growing developing cities as well as delineates the latest shifts in demographics.

Philip Kotler, one of the world's foremost marketing experts, and his brother Milton, an international marketing strategist, explain why the future of marketing is contingent upon concentrations of top global cities and their respective metro-regions, and no longer on small cities. (Photo below right of globe of developing countries with buildings courtesy of freedigitalphotos.

THE POOREST CITIES OF THE WORLD ARE THE NEW TARGET MARKETS (GRADUALLY REPLACING THE TRADITIONAL MIDDLE-TO-RICH HOUSEHOLD-INCOME CONSUMER MARKETS)


Gone are the days of major target market cities and here come the days of marketing to "consumers of global developing cities" -- consumers who represent the poorest in the world. This segment represents the largest target population, and opportunities are constantly increasing as the cost of smart phones and mobile devices continue to decline in price and become readily available to consumers in poorer developing cities of the world.

DID YOU KNOW THAT 600 GLOBAL CITIES WILL CONTRIBUTE 65% OF THE GLOBAL GDP OF $67 TRILLION BY THE YEAR 2025 ?

According to Philip and Milton Kotler, the top 100 cities will contribute 25 percent of GDP, and nearly 75% (440) of the top 600 cities will be in the developing world. (Photo left, blue wave, courtesy freedigitalphotos.

Consequently, cities in developing countries will replace traditional target locations. This target market shift will ultimately optimize marketing potential and enable corporations to tap into unsaturated markets and increase their consumer bases more efficiently, particularly in the decade ahead.

"Winning Global Markets - How Businesses Invest and Prosper in the World's High-Growth Cities," is organized into 8 sections:

        1 The Economic Power of Global Cities 1
        2 How City Metropolitan Regions Compete in the Global Economy 33
        3 The Real Generators of Wealth: Global Multinational Company Investment 57
        4 How Multinational Companies Target Global City Markets for Expansion 75
        5 How Cities Compete to Attract Midsize and Large Multinational Companies 109
        6 How a Nation Can Help Its City Economies 155
        7 The Responsibilities of Companies and Cities 179
        8 How Marketers Manage the City-Centered Global Economy 191

WITHIN A DECADE (2025) THE MAJORITY OF CONSUMING & MIDDLE-INCOME HOUSEHOLDS WILL BE IN DEVELOPING REGIONS

The majority of industry leaders throughout the global marketplace have indicated that global developing cities are experiencing increases in migrant workers as the emerging global marketplace transforms sustainable growth and the global marketing.

As a result, key players are gradually switching from “traditional target marketing” scenarios to more sophisticated, multicultural marketing in “global developing cities” -- i.e., China, Brazil, India, Middle East and Latin America. Although little to no significant impact will transpire within the next 5 to 7 years, multicultural marketers must begin planning phases now for the decade that lies ahead.

New York, Los Angeles, and Chicago will still maintain high per-capita GDP status; however major global companies will need to alter strategies and concentrate on growing city regions in the developing world to maintain their existing marketshare or at least stay afloat.

Furthermore, for multinational marketers to keep their position and market share, changes in corporate culture throughout their organizations must be implemented quickly so as to reap benefits from the changes in market conditions by 2025.

Major corporations -- Coca Cola, Kentucky Fried Chicken, McDonalds, Nestle, etc., are already targeting consumers in developing cities. Will the marketing of "junk food" to these developing companies bring about healthcare issues, i.e., obesity, diabetes, heart disease, etc.?

“Winning Global Markets – How Businesses Invest and Prosper in the World’s High-Growth Cities” by Philip and Milton Kotler is an excellent resource for multi-cultural marketers. The authors articulately explain why local is the new global, how companies must adapt to the latest city-centered global cities and comes with a GBDaly Smile Rating - 5 of 5 smiles Up ))))). (Photo above left, Rogue Wave, courtesy FreeDigitalPhotos)



RESOURCES:
    ▓ █
    ♦  Wiley Press Release ,Wiley.com
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    ♦  "Winning Global Markets - How Businesses Invest and Prosper in the World's High Growth Cities" , Philip and Milton Kotler
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    ♦  Amazon.com book review of "Winning Global Markets - How Businesses Invest and Prosper in the World's High-Growth Cities" by Philip and Milton Kotler
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    ♦  Multicultural Marketing Resources, Inc.
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    ♦ Kotler Marketing Group web site
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    ♦ Kotler on Growth - Meet the Kotlers
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    ♦  Philip Kotler web site
    ♦  "Winning Global Markets" book review on Examiner.com

“Winning Global Markets – How Businesses Invest and Prosper in the World’s High-Growth Cities” by Philip and Milton Kotler
book review by Gloria Buono-Daly
GBDaly Smile Rating - 5 of 5 smiles Up )))))

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AUTHOR INFORMATION:

PHILIP KOTLER is the S.C. Johnson & Son Distinguished Professor of International Marketing at Northwestern University’s Kellogg School of Management, and one of the world’s leading authorities on markets and marketing. He is the author or coauthor of Market Your Way to Growth, Good Works!, Marketing 3.0, and other best-selling titles from Wiley.

MILTON KOTLER is Chairman of Kotler Marketing Group (KMG) USA, headquartered in Washington, D.C. and Kotler Marketing Group China, headquartered in Beijing, with offices in Shenzhen, Shanghai and Wuhan. KMG China is recognized as the #1 marketing strategy consultancy in China. He is author of A Clear-Sighted View of Chinese Business Strategy (2004, Remnin University Press) and coauthor with Philip Kotler of Market Your Way to Growth: 8 Ways to Win (2013, Wiley); and a frequent contributor to the China Business Press. He is a leading marketing strategist and urban and community development expert, noted for his classic 1969 book Neighborhood Government (Lexington, 2004).