Marketing As Strategy

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From Marketing as a Function to Marketing as a Transformational Engine

Markets always change faster than marketing.

IN The Practice of Management, Peter Drucker wrote, “The business enterprise has two and only two basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs.”¹ Today, many CEOs of major companies are disappointed over marketing’s inability to produce measurable results. Increasingly, they view their marketing department as an expense rather than an investment, and fewer marketers are rising through the ranks to become CEOs. While companies unabashedly declare their wish to get closer to customers, marketing is actually losing power to other functions in the corporation.

What ...