Reflect on the evolution of marketing over the past century and describe few major changes that...

Reflect on the evolution of marketing over the past century and describe few major changes that you think will impact the field of marketing over the next decade.

Expert Solution

Evolution of marketing :
From an earlier system which mainly centred on production and numbers, we see a more relationship oriented era nowadays which has ultimately given rise to the concept of Business Development.
Some of its characteristics are - Sales and marketing strategy, advertising and retailing tradeoffs,etc .

Changes that will impact the field of marketing over the next decade :
1. Data analysis is more relevant nowadays, with firms paying a lot of attention to customer recommendations.
2. The relationship-driven approach would ensure that customer relationships and satisfaction levels determine the economic growth of a firm
3. Consumers will want to be associated with a firm for a longer term.
4. Purchasing decisions for a consumer will be even more difficult owing to the fact that there is a lot of information available on a lot of communication channels.
5. Personalization will be a key characteristic of marketing products as consumers would want to get what they want.

Rahul Sunny answered 9 months ago

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