Marketing through Turbulent Times: Growth through Excellent Execution

Abstract

In the previous chapter, I outlined a set of guiding principles for managers operating in turbulent times. I now want to turn my attention to specific growth strategies. In this chapter, I will address the need to maintain momentum and stay focused on executing existing marketing strategies extremely well. In subsequent chapters, I will identify strategies for growth by pushing the organization into new markets and with new products. I want to begin this chapter by addressing the issue of momentum by examining how organizations responded to the 1980s recession.

There is only one valid definition of business purpose: to create a customer. … Therefore, any business enterprise has two—and only two—basic functions: marketing and innovation (Drucker 1954) pp. 39–40