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The Practical Drucker by William A. Cohen

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CHAPTER  |  TWENTY-THREE

The Five Great Marketing Sins

Early on in his career, Peter Drucker declared that there are only two basic business functions: “The first is innovation, and the second is marketing.” From 1975 to 1995, Drucker wrote a column for the Wall Street Journal. On October 21, 1993, his column was entitled “The Five Deadly Business Sins.”1 Confirming his assertion that marketing was one of the two basic business functions, all five sins had to do with marketing.

Drucker easily could have called them “The Five Deadly Marketing Sins.” This column was pure Drucker: He warned against what many experts were advising and other “beliefs” that “everybody knew.” And he hastened to demonstrate that their advice was false. According to ...

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