The Two Components to Creating Customers

Sonder
March 30, 2020

As Peter Drucker wrote years ago the point of a business is not to create a profit but rather to create a customer.

Profit is a byproduct of creating a customer not the other way around. However no one has seemed to have asked the question then of: Well how on earth do you create a customer for your business? The answer is innovation and marketing.

Peter Drucker breaks down business into these two simple components. The first part is innovation the second is marketing. Innovation is the idea of providing real true utility value to someone or something. To create an economic value that increases productivity of the whole because it is more efficient and effective. The inverse of innovation - is “innervation” or what's called marketing - the missing concept that most people forget about.

Both are needed to create a customer.

Overview
Overview
Overview