Drucker Today

Peter Drucker on Sales and Marketing

Robert W. Swaim
Contributor: Robert W. Swaim
Posted: 02/10/2013

Peter Drucker defined "The purpose of a business is to create a customer." I also added in my book The Strategic Drucker (2010) and Drucker courses that I developed and taught in China that it is also to "retain a customer" since marketing research has suggested that it is five times more expensive to gain a customer than to retain existing customers. Drucker also went on to say that "the two most important functions of a business are Innovation and Marketing" as they are the only two functions that contribute to profit while all others are costs.

Robert W. Swaim
Contributor: Robert W. Swaim
Posted: 02/10/2013