The theory of marketing is solid but the practice of marketing leaves much to be desired.

Companies pay too much attention to the cost of doing something. They should worry more about the cost of not doing it.

People who lack material wealth, who are poor, won't be very happy. They will be obsessed with meeting their bills at pay day. And people who have an abundance of material goods are often not happy.

I found marketing to be highly descriptive and prescriptive, without much of a foundation in deep research. I brought in economics, organization theory, mathematics, and social psychology in my first edition of Marketing Management in 1967. Today Marketing Management is in its 15th edition and remains the world's leading textbook on marketing in MBA programs. Subsequently, I wrote two more textbooks, Principles of Marketing and Marketing: an Introduction.

The key solution is to invest in innovation and entrepreneurship within the company. Reducing waste - although probably not eliminating it - and do so at all levels of government would probably generate the capital needed. Alas, that will probably not happen because it makes too much sense.

We should tax every company's carbon footprint and the carbon footprint of every building and home, to incentivize people to reduce their carbon footprint.

Poor firms ignore their competitors; average firms copy their competitors; winning firms lead their competitors.