Marketing Matters Now More Than Ever

Many new business owners think there new transformative will just fly off the shelves because of how col it is. They mistake their great product for being able to sell without much marketing. But, how will you get eyes on your product without marketing? How will your product differentiate from the others in the market? Marketing is as important now than ever. 

Take a look at this article from Forbes for more information.

Marketing Matters Now More Than Ever




As 2019 begins, it’s time to reclaim marketing as a key driver of business. Management guru Peter 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.” Clearly most business leaders embrace innovation as the lifeblood of their companies today, but lately marketing has been relegated to a staff-driven, cost center by many.  And that has caused waste, missed opportunities, and failure for many businesses.

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 in order to generate revenue and profit.  Innovation alone cannot sustain a company; it must be paired with marketing.

Marketing as it was originally intended, in its fullest, truest, and greatest form, is more important today than ever before.GETTY

The Decline of Marketing

Instead of being led and valued as a driver of business viability and growth, marketing has stagnated in recent years.  Gartner’s CMO Spend Survey shows that marketing budgets have leveled off to an average of 11% of company revenue, packaged goods companies including Unilever and P&G have scaled back their marketing spending, and companies from media groups such as Warner Bros. to retailers like Walmart and Starbucks have been cutting marketing staff.


Pundits have been declaring “marketing is dead” for nearly a decade now but predictions of marketing’s demise have increased with recent developments including the growth of artificial intelligence.  AI assistants are expected to use algorithms and predictive analytics to offer up information, goods, and services to customers – which suggests that marketing will have increasingly less impact on their decisions. The growth in number and market share of Amazon’s private label brands is another development that also seems to challenge the effectiveness of other companies’ marketing.  And those who worship at the temple of innovation believe that marketing is the cost you have to pay when your product is inferior.

So it’s not surprising that companies are cutting back on marketing.  Marketing as we’ve known it in recent years has lost its power and will likely continue to decline.  But if business leaders want to thrive in today’s cluttered, competitive, commoditizing marketplace, they need to unleash the powerful potential of marketing.

Read More at Forbes 

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