The practice of marketing has been known for millennia, but the term ” marketing ” used to describe commercial activities buying and selling a products or services came into popular use in the late nineteenth century. The study of the history of marketing as an academic field emerged in the early twentieth century.
The ideas of marketing as it is understood in the modern era began during the time of the Industrial Revolution. This period spanned the late 18th century and lasted long into the 19th century . It was a time of rapid social change motivated by innovations in the scientific and technological industries.
The 90s were when the term digital marketing was coined and when it kicked off into popularity. People started buying personal computers and using email, and in only two years, between 1994 and 1996, the number of people using the internet went from 16 to 70 million.
The evolution of marketing includes several eras including the simple trade era, the production era, the sales era, the marketing department era, the marketing company era, and the relationship marketing era.
The Production Concept . This concept is the oldest of the concepts in business. It holds that consumers will prefer products that are widely available and inexpensive. Managers focusing on this concept concentrate on achieving high production efficiency, low costs, and mass distribution.
Stages in the Product Lifecycle There are four stages in the product life cycle: introduction, growth, maturity, and decline. Life Cycle: Firms’ products progress through the stages of development, which is indicated by their changing profits over time.
It’s no doubt that Philip Kotler is one of them! He is considered the “Father of Modern Marketing ”, and provides us with important lessons that can be applied to your digital strategy.
It is the first Indian company to introduce the concept of MLM in 1996 by Mr. Samir Modi. Today, it has a huge network of about 2.5 lakh members all over with a wide range of products. Two brothers, Jonas of Jochnick and Robert of Jochnick founded this beauty product company company in 1967.
Traditional marketing has many facets. For instance, it includes tangible items like print ads in magazines or newspapers, business cards. It can also include commercials on radio or TV, posters, brochures and billboards. Anything except digital ways to promote your brand is traditional marketing .
The first is the rising cost of marketing changes : the costs, for example, of introducing new products and packaging, of developing new advertising and promotional programs, and of retraining salespeople. The second influence is the mounting investment in product research and development.
New York, USA, March 19, 2020 (GLOBE NEWSWIRE) — Research Dive presents a new research report on the Global Content Marketing Industry which states that the market is expected to reach $107,540.6 million by 2026, and grow at a CAGR of 14.3% from 2019 to 2026.
These seven are: product, price, promotion, place, packaging, positioning and people.
E. J. McCarthy
E. Jerome McCarthy