From October 6-8, 2022, the World Marketing Forum 2 was held in conjunction with the General Assembly of the Asian Marketing Federation.
The World Marketing Forum is a forum where academics and practitioners from around the world gather to exchange views on new trends in marketing. The first was held in Kamakura, Japan in 2021, but all participants were online. This time, it was held in Ubud, Indonesia by invitation only, and Tsunehiro Fukushima from transcosmos participated. This article reports on the forum, which brought together prominent marketers from around the world.
The theme of this year’s conference is “Entrepreneurial Marketing”. This theme will now be a hot topic all over the world.
In his opening message, Professor Kotler introduced four trends in marketing: Sustainability, De-growth, Peace, and Customer Science. “De-growth” was one of the most surprising. De-Growth Marketing is an argument that we should change our perception of the Linear Economy due to global warming and wars, and aim for the formation of a Circular Economy. In the past, various quarters have pointed out the negative effects of expansion, such as discrimination, poverty, and environmental problems, and have reviewed strategic marketing that assumes competition.
There were a lot of discussions, but Dr. Jacky Mussry, CEO of MarkPlus, with whom we have a partnership, advocated the idea that it is possible to expand operating profit (social added value) without being restrained by sales expansion, rather than just focusing on sales growth through expansion of scale. I was able to sympathize with him. Specifically, entrepreneurial marketing is marketing to discover the value that customers seek in a chaotic marketplace, and to compensate for the gap between the current situation and that value with innovations that transform the customer’s vague imagination into a tangible customer experience. This is the argument of “marketing for the customer experience”.
In addition, the Chinese teaching of Laozi, “Knowledge is wealth,” was also discussed in the forum, including a review of the Eastern way of thinking.
The forum was held at an event in a small museum, surrounded by unique and exotic paintings.
“Entrepreneurial Marketing,” which was the theme of this issue, will be discussed as a keyword of interest in future articles, so please refer to it as the latest marketing trend.
transcosmos/Fukushima, who participated in World Marketing Forum2, will also be speaking at the world’s largest marketing summit in November 2022. We look forward to your participation.