Great post!
I'm going to take a small exception to the bolded, however. You must always build what the customer needs, but if you wait for it to be what they want, you are behind the curve.
True innovation requires building something that customers didn't know was possible. Either meet a need that they didn't know they had, or come up with a new solution for their problem that they never thought about before. Customers don't know what new concepts and technology that may be available to solve their problem, so they can only articulate their needs and wants through the lens of what's already on the market.
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As a side note, I would never expect marketing people to understand the business objectives for purposes of product development. That is the job of a product manager or business GM. Once the business objective has been set, it is the marketer's job to execute the customer-facing portion of the plan through demand creation, advertising, and brand/image management.