Marketing is Everything

Requirements: 2 pages single space 10 pt font

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The author advises marketing practitioners to own the market. He claims that owning the market is different from simply producing and selling products and that it is the ultimate goal of marketing. Owning the market simply means that you think of the product, company, and technology as yours and one that you can successfully lead. Owning the market influences companies to do things differently so do their suppliers and their customers (Schmidt & Watts, 2017). It means that companies develop their own products that specifically suit the market needs and set standards that other companies in the industry may comply with. Companies that own the market stand high chances of success because they portray leadership skills and occupy an acknowledged position as a leader, attracting very talented individuals to the company.

McKenna uses the example of Convex Computer to illustrate that ownership is leadership. Convex computer wanted to introduce a new computer into the market; it started by looking for better ways of defining the market it could own due to the existing segmentations in the market. The market was full of high competition as Cray was in control of the supercomputers, and Digital was at the top in minicomputers. Convex later came up with mini-supercomputers which offered performance that were less than that of a complete supercomputer but exceeded the minicomputer in terms of technology. Through that, Convex proved itself as a leader in the market. Apple Inc. has also been successful in owning the market. It achieved its leadership position by expanding the category of small computers. It identified the need for personal computers in the market as the home computers market was limiting and more crowded. The development of desktops that were not present in the market also contributed to Apple owning the market, leading it.

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Marketing is Everything