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Management Market
Marketers have traditionally focused on a company’s sales, market share,
and margin to set its objectives and judge its performance. But gains in
market share, while desirable, need further examination. Did you gain
the right or wrong kinds of customers? Are they the staying or the
switching kind? Are you “buying” share or “earning” it? Are you gaining
a greater share of a shrinking market? Consider the following:
The world abounds in opportunities, large and small. We are still
waiting for a cure for cancer, tasty nonfattening foods, weight-loss
schemes that work, and flying cars to avoid congested roads. While
waiting, we can focus on trying to make our present products and
services better in a hundred ways.
William H. Davidow, former Vice President of Strategy at Intel, got
it right: “While great devices are invented in the laboratory, great
products are invented in the Marketing Department.” A product
must be more than a physical device: It must be a concept that solves
someone’s problems.
