Success of Business is dependent on Two things "Marketing & Innovation" rest everything else creates cost?Should Companies spend maximum on these?

Dear Mr.Jose

I agree in a way to your answer to the extent when you refine marketing to its shorter definition that perhaps is communicating the value of your product or service to your customer.However Marketing has transecended over times as an Entity or Valuable component which is not just your products,pricing,promotion or distribution but even your billing,how you answer a phone call of a customer,your speed of handling problems,your way colloborating with your customers,employees,stake holders,how you innovate and try to adapt yourself and your business as per customers and markets need  and all it is a specialised activity that encompasses your business and it is how your customer percieves your company so The concern and responsibility of Marketing must therefore permeate all areas of enterprise So I believe Marketing is Everything and Everthing is Marketing A Business to be Successful.

I do not think so, except if those are the only2 drivers of customer satisfaction with your company.

Both marketing and innovation will build you an image and that image will create expectations from your customers towards your brand and ultimately will increase customer acquisition and ARPU (average return per user) in the short term.

However, if you do not bet on quality of service either (establishing KPI’s for product deliverance, response to customer feedback – either suggestions or complaints -, product quality, etc), the “cost of non-quality” will create so much customer churn that your increase in customer acquisition is not sufficient to compensate for customer loss.

So, generaly speaking, a company must invest not only in increasing customer base but also in serving the existing customer with high quality standards. To figure out what those standards are that company must “ask” the customers and take deep attention to customer feedback.