Abu Dhabi, 13th Oct. 2010 (WAM): In conjunction with the Higher Colleges of Technology (HCT), world renowned marketing expert Professor Philip Kotler today launched a number of ground breaking initiatives, including the annual World Marketing Forum – Abu Dhabi (WMF).
Professor Kotler signed a Memorandum of Understanding with Sheikh Nahayan Mabarak Al Nahayan, Minister of Higher Education and Scientific Research and Chancellor of the Higher Colleges of Technology, at the HCT’s Abu Dhabi Women’s College city campus, during the Professor Kotler’s seminar, Marketing 3.0 – Values Driven Marketing.
The annual WMF will be held in Abu Dhabi and will host an invited guest list of CEOs and CMOs from the world’s leading corporations, including Fortune 500 companies.
HCT Vice Chancellor Dr Tayeb Kamali said the WMF will bring the world’s marketing focus to the UAE.
“The Forum will be the premium global arena for sharing best practices in marketing, as well as showcasing examples of Corporate Social Responsibility,” Dr Kamali said.
The MoU between HCT and Kotler Impact also provided for the creation of the Kotler Research Centre (KRC) at the Centre of Excellence for Research and Training in Abu Dhabi. The KRC will focus on building research capabilities in Professor Kotler’s Marketing 3.0, values-based marketing concepts.
Under the agreement the KRC will provide opportunities for the world’s leading academics to conduct further research on businesses in a socially-networked environment.
The MoU will also see the establishment of the Kotler Chair of Marketing at the Higher Colleges of Technology, with the emphasis on disseminating of the latest thinking in values-based marketing. HCT and Kotler Impact will also explore the creation of the WMF Hall of Fame for Excellence in Marketing that recognizes and showcases best practices from around the world.
Professor Kotler said he was excited about Abu Dhabi being at the centre of new marketing concepts.
“These are four very exciting initiatives and I am honored to have my name associated with them,” Prof Kotler said.
“Until now there has never been anything like the World Marketing Forum, where we will bring the best thinkers in marketing from industry, commerce and academia to Abu Dhabi. It will be like the World Economic Forum or the World Business Forum.” At his only UAE seminar Professor Kotler introduced the capacity audience to his new model of marketing, described as values driven marketing. The corporate and marketing executives in the audience were given an insight by the guru of marketing into how corporations review their marketing strategies and how they market their products to clients and consumers.
Professor Kotler, who invented the four Ps’ of marketing and Social Marketing, designed the concept of values driven marketing in the wake of the disastrous global financial crisis to assist companies rebound, reset growth potential and address challenges of doing business.
His new marketing model (Marketing 3.0) treats customers as technology savvy, highly motivated members of a community and not just as consumers. He said after the effects of the global financial crisis the emphasis was on product, people and planet.