CHAPTER 3
Understand the Enterprise
What Is a Company (School, Hospital …)?
The first marketing course I took began with an assignment to read “A Note on the Worldwide Watch Industry,” a dense document describing the global market for watches including market participants, products, price points, volumes, and distribution channels.
My section mates and I went to class expecting a discussion of the watch industry. That didn’t happen. Instead, our professor, Steve Starr, faced the class and asked a simple question: “What is a watch?”
The answer turned out to be anything but simple.
A watch is a way of keeping time and doing so portably. As a young man, this was the only way I had ever thought about watches.
But, as various students pointed out, ...
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