Management guru Drucker once said, “Because its purpose is to create a customer, the business enterprise has two — and only these two — basic functions: marketing and innovation.”
Obviously, most business pioneers embrace advancement as the backbone of their organizations today, yet recently advertising has been consigned to a staff-driven, cost focus by many. What’s more, that has caused squander, botched freedoms, and disappointment for some organizations.
Marketing as it was originally intended, in its fullest, truest, and greatest form, is more important today than ever before. The world is awash in innovative products, services, technologies, solutions, business models, etc. today. These new offerings must be brought to market and commercialized to generate revenue and profit. Intellectuals have been proclaiming “advertising is dead” for almost 10 years now however expectations of showcasing’s end have expanded with late improvements including the development of man-made consciousness.
Marketing is about connecting the right customers to the right product. Marketing helps sales teams, and people throughout the company, think from the outside-in about what is being offered, convey its value in customer-centric ways, and persist through barriers that can only be addressed through deep customer knowledge and insight. The article’s authors concluded that new-to-the-world products require transformation in the organization that offers the innovation as much as the one that buys it. Unleashing the full power of marketing is critical to achieving that transformation.
Marketing, therefore, needs to be less about what happens after an innovation is ready to launch, and more about getting it to be ready in the first place — by creating a new market or expanding an existing one; developing or understanding how it will fit into customers’ needs, wants, values, and lives; and building a customer experience that turns the offering into a complete customer solution.