Four Eras of Marketing Thought Development
To better understand the history of marketing, we must focus on the four different eras in marketing thought development. Prior to formal marketing being defined, the “Pre-marketing” period existed prior to 1900 and was embedded within the economics field (Wilkie & Moore,
2012). Although there was no formal marketing definition, the concepts related to marketing were given consideration (Wilkie & Moore).
From 1900-1920, “Era 1: Founding the Field of Marketing”, was defined with the main focus being distribution (Wilkie & Moore). Economics previously did not focus on marketing distribution services, but rather on production which included land, labor, and capital (Wilkie &
Moore). New courses at universities were developed to study different aspects of marketing
(Wilkie & Moore). The importance of agriculture during this time placed more emphasis on the marketing distribution of agricultural products (Wilkie & Moore).
The next era in market was “Era II: Formalizing the Field” and occurred from 1920-1950
(Wilkie & Moore, 2012). During this time, marketing developed more as an academic field
(Wilkie & Moore). There was also a lot of transition within society during this time as there was great prosperity in the 1920’s, the Great Depression in the 1930’s, and World War I in the 1940’s
(Wilkie & Moore). Marketing was impacted by greater technological advances, mass production,
Development of Marketing History
3
and consumer choice (Wilkie & Moore). In the 1920’s and 1930’s, consumers became more frustrated with pricing, quality, and product shortages (Wilkie & Moore). The American
Marketing Association and Journal of Marketing were created in 1936-1937 (Wilkie & Moore).
Academics focused more ...
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(Kotler & Keller).
Differentiation
Companies today need to deal with customers who are less loyal to specific brands and more sensitive to pricing and quality (Kotler & Keller, 2012). Companies strive to determine what differentiates them from their competitors. As companies compete to please their customers more, they invite them to participate in design and marketing activities (Kotler & Keller, 2012).
At Nike online stores, consumers can customize and personalize their products to their liking
(Larson, 2011).
Conclusion
The history of marketing thought development demonstrates the changes that have occurred in marketing over time, often driven by dramatic change. Today, companies face some different challenges in market management. As a result, they constantly need to review their strategies and attempt to anticipate changes that might disrupt their business.
The three chapters assigned to be read out of Satisfaction Guaranteed: The Making of the American Mass Market, a novel by Susan Strasser, outline the consumer culture of the United States around the end of 19th century, following the conclusion of the civil war. The chapters work chronologically and describe the rapid evolution of companies’ production, advertising and branding techniques. The reading also hits some of the main goods introduced at the time, most of which we still use today, and the troubles that companies faced convincing the public to invest in (purchase) their product for the first time. The problem with introducing thousands of products that no one had ever heard of? Most people will naturally pick the safe bet when spending
The 1930’s were a time of poverty in America. The Great Depression hit the United States hard and it would take years to recover, but presidents like Franklin D. Roosevelt, although he did not solve everyone’s problem, would help a lot. Roosevelt brought America back from the brink and helped a lot of people, but so many others were left without jobs or money or food. 1930 to 1941 were difficult years for America and it was not until World War II that we started to make some progress.
From War to Prosperity: 1940 - 1980. (2008, November 20). In Land of Contrast: A History of
The 1920s were a time of leisure and carelessness. The Great War had ended in 1918 and everyone was eager to return to some semblance of normalcy. The end of the war and the horrors and atrocities that it resulted in now faced millions of people. Easily obtainable credit and rapidly rising stock prices prompted many to invest, resulting in big payoffs and newfound wealth for many. However, overproduction and inflated stock prices increased by corrupt industrialists culminat...
"Unit 11 The 1930s: The Great Depression." Welcome. New Jersey State Library, 12 Jan. 2011. Web. 17 Apr. 2014. .
The 1920s were a time of leisure and carelessness. The Great War had ended in 1918 and everyone was eager to return to some semblance of normalcy. The end of the war and the horrors and atrocities that it resulted in now faced millions of people. This caused a backlash against traditional values and morals as people began to denounce the complex for a return to simplicity and minimalism. Easily obtainable credit and rapidly rising stock prices prompted many to invest, resulting in big payoffs and newfound wealth for many. However, overproduction and inflated stock prices increased by corrupt industrialists culminated until the inevitable collapse of the stock market in 1929.
...ced back to the changes in society, economy, and politics during the two decades of 1900 and 1920.
The 1930s was a time of not only political turmoil abroad, but of economic chaos on the home-front as well. After President Herbert C. Hoover's Presidency took the blame for launching the ...
During the 1920's America experienced an increase like no other. With the Model T car, the assembly line, business skyrocketed. Thus, America's involvement in World War II did not begin with the attack on Pearl Harbor. Starting in October 1929, the Great Depression, the stock market crashed. It awed a country used to the excesses of the 1920's.
Balachandran, G. “Power and Markets in Global Finance: The Gold Standard, 1890-1926.” Journal of Global History 3 (2008), 313-335.
The Boom in the United States in the 1920's In the 1920’s the U.S.A was booming .businesses grew, people had more money to spend and they became very wealthy. Buildings and roads were built. New products were available to Americans like washing machines, cars and radios. In my essay I am going to look at some of the biggest factors that caused the boom. The most important reason for the boom was world war one as they were very rich after the war.
Kotler, Philip, and Kevin Lane Keller (2006) “Marketing Management”. Upper Saddle River, New Jersey: Pearson, Prentice Hall.
Petty Ross D. Editor's Introduction: The What and Why of Marketing; American Business Journal, Vol. 36, 1999
Marketing is a fundamental aspect of all businesses, whether they are set out to make a profit, or charitable organisations - they will have to carry out marketing research of some description. It has been described as being, “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” (Chartered Institute of Marketing) This essay will explore the role of marketing in a marketing oriented business and different aspects of the external environment that a smartphone company should be aware of. The points raised throughout will be supported using relevant journals, textbooks and newspaper articles.
Traditionally, marketers were focused mainly on selling a product. They started with production and marketing was done while selling and promoting the product to attain sales at a profit. In this technique, they were of the view that the product should be brought in the market with an aggressive selling strategy and imposed in the market through promotional pressures. Their marketing purview was limited to 4P’s which are product, promotion, price and place for profit maximisation.