Question

Identify and discuss the five eras of the evolution of marketing. What is the marketing concept? How is the marketing concept tied to the relationship and social eras of marketing?

Answer 1

Identify and discuss the five eras of the evolution of marketing

1. Production Era – In this Era, the focus of the Companies was in the production sector. They mainly occupied themselves in producing more not just effectively but efficiently that is at low cost and Good Quality thus make them available to customers. Those goods which are of necessity were mainly produced and supplied widely. As in this era, normally the demand is more and supply was less.
2. Product Era – In this Era, the focus was on quality products and innovative features keeping in mind the customers demand. Also, the important point here is to keep the product at lower rate than only the customers will be attracted. The point of differentiation was they don’t incur the cost on advertising the product rather they made the product attractive itself to the customer. Though it is very important to let the customer find the products via distribution channels.
3. Sales Era – In sales Era, the focus is obvious that is selling irrespective of demand, that is, sell the products to the consumers even if they don’t need it. Here the need of the product is also delivered along with the product. Example- Companies these days are selling insurances along with the product and convince the customers. Advertising is pushed enough aggressively to get the large share in the market.
4. Marketing Era – This Era was more focus on grabbing the largest share in the market. How to win over the competitors and achieve the organization goal. They are focus on satisfying the needs of customers by integration and profitability.
5. Holistic Marketing Era – Here not only the organization financial goal is established also organisational duty towards society is realized. To make all Era’s work together that is customers needs, production and selling adequately, we need all to coordinate internally also. Everyone is the organisation must also be fully aware of the concepts going through.

What is the marketing concept

Marketing concept revolves around all the Era’s explained above. Here Marketing refers from realizing the customers’ needs to make them available the products they desired at competitive prices and good quality. It is about not only creating the cash flow but also for creating brand image of the product. Advertising and promotion is very important part for any product expansion. Coordination and alignment of all functions to achieve the organization Goal is the task in marketing concept. Start by developing of different departments and thereafter provide their key role to them.

How is the marketing concept tied to the relationship and social eras of marketing?

The organisations these days are consumer oriented that is they think from the point of the consumer and accordingly produce the products and make them available so that consumer needs not find the market rather they get to see them via social media and so on. Financial Goal was used to be focus in earlier eras, now with the increasing need of creating Brand image, focus has shift from financial only to societal also. Corporate social responsibility has been realized and emphasized and many employers are focussing on this.

They are balancing the Consumer needs, public interest and the Company’s profit.