For Drucker, there is only one valid purpose of business, “Create a Customer“. Drucker focussed on one thing: Customers don’t purchase goods or services; they purchase satisfaction, and if your company is not about providing satisfaction, trouble lies ahead.
As a marketer, I can’t agree more…
Satisfaction is contentment (per Wikipedia). Contentment is a mental or emotional state of satisfaction that maybe drawn from being at ease in one’s situation, body, and mind.
Now, you see why Steve Jobs said, “Customers don’t know what they want”. My thinking is that he meant customers don’t know what makes them happy and satisfied…Steve created customers. Profits followed. iPhone is a perfect example.
Marketing is about being close to the customer so you know what is her situation and Innovation is about creating satisfaction.
This is why Marketing and Innovation go hand in hand – after all satisfaction is an eluding concept.
Happy Friday!