Humans have evolved over thousands of years. Until 100 years back, most of the humans were still struggling to get their basic needs fulfilled. But the world is changing. In a few decades, most of the population in the world will have access to basic food, clothing and shelter.
If you want to be an entrepreneur and start a business, you need to think about what you want to sell. There is a heavy competition in the basic needs sector. It is pretty much impossible to enter one of the primary industries and build a big company. Yes, you can start a hotel, an apparel shop or a construction company, but the competition is extremely hard.
Because of this, many entrepreneurs end up coming up with a product or idea that people may not want. They first make the product they think people should want, and then try to market it to convince people that they want that product. This is a losing game. It can never work like that.
The best way to enter a market and make profits as a business is to make something people want and need. If you make something people want, the job of marketing becomes easy. As a marketer you just need to make sure that the people who want these products are able to discover the existence of your product. Once they discover it, they will buy it. Marketing doesn’t need to convince them to buy the product.
Peter Drucker, one of the thought leaders in the marketing space said:
“The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.”
This changes the definition of what marketing could be. Instead of trying hard to advertise and convert people into buyers, marketers should focus on understanding the customer well. This will naturally lead to creating products that people want and it will sell itself.