From Claremont Graduate University
It would seem to make axiomatic common sense and now it has some documentation: Companies that both spend money to stay ahead of their competitors and budget sums to let the world know what they're doing see real rewards for these investments, a researcher in Claremont says after compiling a 2009 list of the top 100 firms putting cash into innovation and marketing. The featured companies were extracted from a larger pool of U.S. or Canadian concerns with sales exceeding $100 million, and, ultimately, a threshhold was set that to get on the list, the firms had to spend 2.14% of sales on both marketing and innovation -- allocations that the researcher says added marked value, confirming a maxim of business guru Peter Drucker: 'Because its purpose is to create a customer, the business has two -- and only two -- functions: marketing and innovation. Marketing and innovation create value, all the rest are costs.'
100 firms found to confirm maxim of business guru Peter Drucker
Click here to access full study listing top 100 firms investing in innovation, marketing
