Marketing And Innovation Produce Results

By 4 September 2016 No Comments

via Forbes — “Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”

This famous Peter Drucker quote instructs us all to focus on the fundamentals of building a successful firm–even as the pace of technological change accelerates and global hyper-competition swarms all around us.

In this classic Forbes article written by Jack Trout, the “father of positioning” suggests that we put our minds in the “mud of the marketplace”.

“You have to find your inspiration down at the front, in the ebb and flow of the great marketing battles taking place in the mind of the prospect.”

Marketing can do this through context, differentiation, credentials and communication.

“When one considers the trouble that many of our icons have run into in recent years, it is not easy to surmise that Drucker’s advice would have perhaps helped management to avoid the problems they face today.”

The company of the future may perhaps be saved by its customers – if it pays enough attention to them.