Marketing has been showing a trend of becoming less and less prevalent over the years, with most business owners reporting it only accounts for 11% of their overall budget. Some blame this on the fact that marketing has been dulled down to only represent obtaining and maintaining a solid consumer base. Instead, companies should be focusing on developing creative marketing tactics that have just as much focus on the period right before execution as opposed to just the aftermath.
Key Takeaways:
- According to marketing expert Peter Drucker, marketing is the key driver of most businesses.
- Ultimately, companies are losing opportunities and money by relegating marketing to a staff-driven cost-center.
- Innovation alone without strategic marketing cannot make a company profitable.
“And marketing needs to be less defined by a budget and managed by a department, and more embraced as a business discipline throughout the organization.”
