Few people are aware of the history of marketing and how it came to be. Unlike other professions which have a long tradition, marketing has a short history. Marketing has its roots in the industrial revolution.
The Industrial Revolution occurred from around 1760 to approximately 1840. This period saw the introduction of new manufacturing processes. A switch from manual to more automated machine-driven processes had begun.
Products made in larger quantities lead to shifting from producing for consumption to providing for sales.
With increased stock, a need for new markets became necessary for manufacturers. Moreover, so, the history of marketing began. This is the history of marketing through different eras.
History of Marketing
Mechanisation had yet to begin. Exploration was the primary economic focus, and so traded. Limited supplies were available as most things were handmade and harvested. Sale of goods was by chance and luck.
The production period spanned around 60 years coinciding with the start of the industrial revolution. Large scale production of many products increased options and availability in the marketplace. Businesspeople of the time believed if you built it, they would sell it. It worked because of the limited number of products at the time.
The production era leads to a significant focus on producing products that were in demand.
A period that began as the production era ended, it lasted almost 20 years. Products were not purchased on blind faith anymore because consumers were more connected.
It was a disorganised era since each company was in direct competition, regardless of the product.
Production continued to increase, and as a result, products were available on a large scale. As a consequence, some manufacturers could not get their goods to market. Producers engaged in marketing on a large scale to attract customers. It was all about the price and not quality for the client; this resulted in a price war.
Due to increased competition among manufacturers, the role of the professional marketer took hold. These individuals would focus on marketing and distribution of products. Besides this, they had the responsibility for designing marketing strategies to beat their competitors.
As marketers developed and used tactics, they became more customer centred. Strategies focused on giving customers the best experience possible. Studying customers became key to the marketing strategy. Marketing campaigns and product offerings could now be tailored based on customer research.
Relationship marketing era
Once a company establishes its self in a market, how do they keep a foothold in it while developing new markets? As a result, a new term appeared, ‘relationship marketing’. Develop a relationship with your customer, and they will return. As a result, they will also ‘shout from the rooftops’ about how good your product is.
Social marketing era
The current internet world we live in revolves around social media. Businesses can connect 24/7 to their customers and potential customers. Furthermore, this can usually be done without ever speaking to them.
As a result of this constant connection, everything is instant, from orders to real-time feedback.
This article gives you an insight into the history of marketing. Interested to hear your comments and feedback via Twitter