Why marketing rules business

Peter Drucker said, "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." He was right.

When you consider that marketing controls the marketing mix, comprised of product, price, promotion and place (distribution), it certainly helps to assert Drucker's viewpoint. Traditionally, the marketing department had spent almost all of its time, effort and resources on promotion. However, the modern marketer has realised the power of product, price and place on creating customers.

Marketing not only rules business, it is the reason for the existence of business. Without marketing, business fails.