A history lesson on marketing

We have had a lot of discussion about various marketing strategies and what makes an effective marketing strategy. That got me thinking if in future marketing is going to be similar to what it is today? Unlike other business activities like accounting, marketing has no agreed period as to when it begun. Some argue that marketing practices can be found in antiquity. Umbricius Scauras, for example, was a manufacturer of fish sauce (also known as garum) in Pompeii, circa 35 C.E, a number of studies have found evidence of advertising, branding, packaging and labeling.

Marketing is commonly believed to have evolved through 5 phases in history. The first is the simple trade era where everything was in limited supply. In the 19th century it was replaced by production era. Then came the sales era when it was difficult to sell everything that was produced. post WWII economic boom fostered the emergence of the marketing department era. Once the premise of marketing became widely acceptable the marketing company era emerged.

It is also argued that this was not the end and rather there were 2 more phases that were introduced during this time.

Relationship Marketing Era: The focus of companies shifts towards building customer loyalty  and developing relationships with clients. Authors such as Don Peppers, Martha Rogers and Philip Kotler were instigators of the importance of creating bonds, considering that “the cost of attracting a new customer is estimated to be five times the cost of keeping a current customer happy.” (Kotler, 1997)

The Social/Marketing Era: Concentrates on social interaction and a real-time connection with clients.

it is not marketing by the book that leads to the best campaigns. In fact in marketing there is nothing that happens by the book as various factors keep changing the course of marketing to an extent where marketing has become a trend itself and the way we do it keeps changing.

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2 Comments Add yours

  1. Dilraj singh says:

    Doesn’t this whole concept seem too abstract ? Marketers will need a given set of rules to folllow in order to succeed ?

    Liked by 1 person

    1. now that is that is the difference between a business function like accounting and marketing. Marketing changes with changes in technology, economy, changes in the financial situation of the business and a lot more external factors. Even behaviour that people exhibit has a drastic change on the marketing strategies. Hence it will be very interesting to see what ways will marketers use to become relevant to the changes.

      Like

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