The following paras summarise Kotler’s views on the above topic. He expresses these views in FAQs on marketing.

Customer-orientation should not be paid only lip sympathy. Customer satisfaction level must be tracked. Reverse marketing is applicable to all the four Ps. Here a buyer defines the terms of exchange. Reverse design let the consumers participate in designing the products they want. Reverse pricing means telling the marketers what price they are willing to pay. Reverse advertising means taking permission from the customers before putting the message across. Reverse distribution means a choice of channels the customers desire.

When the customers create the products and services they want, they become prosumers — producing consumers. As most of the product related factors such as service, quality and value are being copied rapidly, it becomes difficult to differentiate a product. Technology and globalization has changed the landscape. Companies are competing anywhere, thanks to internet and more free trade. Hyper-competition puts a downward pressure on price. in hyper-competition there is hardly any sustainable competitive advantage. Technology and globalization can destroy competitive advantage overnight. we must improve continuously. Companies are compelled to differentiate which is mostly psychological, and not real. Internet has made consumers discriminating. Companies have to offer value in spite of downward pressure on prices which in turn affect profitability too.

The trends visible are brand ownership rather than asset ownership, customization rather than mass marketing, operating as a cyber firm along with brick-and-mortar firm, more emphasis on customer retention and relationship marketing, emphasis on DM, multi-channel marketing, company-wide marketing and partnership with the supply chain.