Question

Discuss the evolution of marketing 

Answer 1

• Marketing has evolved over the centuries, decades and years
• It has taken a modern shape after passing various stages since 19th century
• The evolution of marketing has given rise to the concept of business development
• The science and technology has changed the way people live, the way they do business and the way they sell or purchase
• The marketing philosophy has undergone a gradual change since the great industrial revolution took place
• The marketing concept evolved with the focus on creating, communicating and delivering superior customer value
• It also evolved with a decision enhancing social welfare, understanding ethical environment, legal and social context of marketing activities.
• There are various stages in the evolution of marketing, they are:

1. Production oriented era :

• It's approach was based on the fact that consumers favour the products that are available and highly affordable

2. Product oriented era :

• Attitude shifted from production to product
• Where consumers favour products that have greater quality, performance and other factors

3. Sales oriented era:

• It indicates the rise of advertising and promoting the products

4. Marketing oriented era:

• It focussed on needs and wants of the customer

5. Relationship marketing oriented era:

• Focussed on needs of the target markets and delivering superior value products