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Curation, Social Business and Beyond
Covering the ongoing evolution of curation & beyond; the impact & innovation http://xeeme.com/JanGordon
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What Comes First The Customer, or Marketing and Innovation?

What Comes First The Customer, or Marketing and Innovation? | Curation, Social Business and Beyond | Scoop.it
Focusing on customers to the exclusion of everyone and everything else can kill a business just as easily as neglect.
janlgordon's insight:

This article is from Digital Tonto and I selected it because it was thought-provoking and something we as marketers and innovators should pay attention to.


Here's what caught my attention


“The customer is always king” has long been a time-honored business adage.  Peter Drucker, the most renowned management thinker of the 20th century, was probably best known for advocating a consumer-centric approach.

 

A lot of the confusion stems from a misunderstanding of what Drucker actually said, which was:

 

"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".

 

 The truth is that a successful business must balance the needs of a variety of stakeholders.

 

Focusing on customers to the exclusion of everyone and everything else can kill a business just as easily as neglect.

 

 The Stupidity of Crowds


 "The ability to make distinctions between smart and dumb crowds can be the difference between a runaway success and unequivocal disaster"

Digital Tonto


There’s a reason why people like Henry Ford and Steve jobs don’t like listening to customers—customers are a crowd and crowds are often stupid.

 

They usually represent the conventional wisdom of the present, rather than the possibilities of the future and following them often leads to mediocrity, not excellence.

 

That’s why truly visionary entrepreneurs make their fortune from betting against the crowd.  They create something new, something nobody is asking for because they’ve never seen it before.  It’s difficult to “start with the customer” when one doesn’t exist yet.

 

Selected by Jan Gordon for Curatti covering Curation, Social Business and Beyond


Read more here: [http://bit.ly/1kMjtf5]

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janlgordon's comment, December 15, 2013 11:40 PM
Marty Koenig, Thank you Marty! You are so right, if we keep talking to each other and following popular trends, it's very possible that we will miss the boat. .
Charles Rein's curator insight, December 17, 2013 12:15 PM

The Idea of the Customer comes first, then the plan to pull them into your market

Ray Beauchamp's curator insight, December 28, 2013 4:23 PM

"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".

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40 (Under 40) Hottest Young Stars in BUSINESS Across the Globe

Obviously some people we all know already, introducing others that we're going to hear a lot more about.


**The most important thing to think about is how their innovation is going to impact all of us personally and professionally.


Intro:


They're the hottest young stars in business across the globe. They're innovators, disrupters, and job creators; in fact, it's a pretty safe bet you're going to be working for them someday -- if you aren't already!


They're in technology, yes, but also in movies, music, athletic wear, and even curry-flavored chocolate. And the scary thing is they're just getting started.


http://cnnmon.ie/uJygMA

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