A Brief History Of Marketing

Marketing is a process to satisfy the desires of the society. This process has its origins when primitive man became self-sufficient and then gradually interacting with each other. As civilization progress, they created villas in which the first forms of the market began. Men focused on producing what they could do better, some planted, and others raised cattle, so they exchanged their products.

However, mass production bolstered with the dawn of the industrial revolution. It wasn’t from 1800 until 1920 where there is a need for a new form of marketing. Products were consumed immediately. The manufacturer determines the characteristics of the products.

During this era, there is no need to market because everything was immediately consumed. The consumers no longer have the time to select the characteristics of the product. The demand exceeded the supply. It is also believed that consumers prefer products that were available and affordable. Therefore the management focused on improving the efficiency of production and distribution.

From 1920, purchasing power was minimized.  Newly developed products find it hard to enter the market. Many of these products were not successful, and others had temporary success. For this reason, a concept arose that consumers prefer products that offer the best quality, performance, and features. A business should devote its energy to improving its products continually.

The Rise of Modern Day Marketing

The processes of marketing were analyzed by Harvard and other American universities. They have gradually developed some theories to ensure the success of any business. Before 1950 there’s a new concept which considered that consumers would not buy enough of the products of an organization if it does not work in sales and promotion on a large scale .

Such concept gave rise to marketing in 1950. Its purpose is to introduce products to the group of buyers (target market) that would buy such products. Along with this are promotional efforts to the masses by means of mass media that began to appear such as cinema, radio, and TV.

Hence the concept of marketing says that achieving organizational goals depends on determining the needs and desires of consumers. Marketing goals provide the desired satisfactions more effectively and efficiently than the competitors.

In the new century, the marketing concept has been divided into other theories as it is benchmarking social and global marketing. New forms of communication should be considered in developing marketing and merchandising strategies.

Related Video:

Leave a Reply

Your email address will not be published. Required fields are marked *