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Principles of Marketing

v5.0 Jeff Tanner and Mary Anne Raymond

Chapter 1 What Is Marketing?

What makes a business idea successful? Do you have to be first to the market? If so, then explain how Nike became so successful; after all, they didn’t invent the athletic shoe. 

Or does it take capital? IBM had more capital than Apple but lost several battles a long time ago and sold out of the PC market and never got close to the smartphone market. Did Apple just have a better idea? If so, what made it possible for them to execute on that idea?

These examples may seem like ancient history to you; after all, Nike and Apple seem to be pretty well entrenched, maybe even bulletproof. Yet consumer tastes change, and suddenly or slowly, other brands can take over. 

Better marketing isn’t always the reason some companies outperform others, but bad marketing will kill a good idea. No matter what type of business you go into, marketing is important to understanding your customers, making sure you have what they want, and shaping how they view you and your competitors so that you become their preferred choice.