The art of marketing is the art of brand building. If you arenot a brand, you are a commodity. Then price is everything and the low-cost producer is the only winner.

There is only one winning strategy. It is to carefully define the target market and direct a superior offering to that target market.

Robots equipped with software can be designed to do repetitive jobs. All that you need in a factory is a set of dials, an expert, and a dog to keep the expert awake. We will be moving shortly to the next stage to robots with artificial intelligence who can "think."

Your company does not belong inmarkets where it cannot be the best.

Leaders such as Alexander the Great, Napoleon, Franklin D. Roosevelt and others promulgated a vision and a moving story of how their people could achieve a great purpose.

Requiring the payment of higher wages will lead to a loss of some jobs and a raising of prices which drives companies to search for automation to reduce costs. On the other hand, those receiving higher wages will spend more (the marginal propensity to consume is close to 1 for low income earners) and this will increase demand for additional goods and services. Henry Ford had the clearest vision of why companies can actually benefit by paying higher wages.

Good companies will meet needs; great companies will create markets.