marketing history

Introduction

Marketing has been one of the main pillars in society for a long time. In recent times, marketing and advertising have become more complex and multifaceted. The evolution of marketing techniques and strategies is highly dependent on technology. As such, marketers no longer rely solely on their creative abilities to market their products, but also use computer-based tools for this purpose. The advent of these changes has impacted how marketers can market their services and products. This essay will highlight some of the major improvements that were made with the technological development in marketing and advertising in the 1980s and 1990s. It will then summarize the impact of those advancements on modern day marketing practices and how we will benefit from them today. We will also discuss aspects of how modern consumers respond to these latest developments in marketing and advertising as well as their influence on consumer behavior.

The Evolution of Marketing

Marketing has evolved over the decades. From its humble beginnings in the late 19th century when it was mainly used by small scale manufacturers to larger companies, the field of marketing got further developed through the post civil war era during which mass marketing became commonplace among large enterprises (Wagner & Decker, 2005). By the 1970s most people were familiar with television commercials because they knew that advertisements had a great influence in public opinion. Other than the entertainment aspect, which involved music and movies, advertising became a part of daily life. During this period advertising agencies were known as “spreads” and their role was primarily focused on promoting new goods and services. However, after World War II advertising agencies began to specialize in selling brands and as such began working with businesses to get better return on investment as part of product promotion. Due to increased competition among these agencies, they decided that they needed help and started merging forces with other agencies. Their efforts led to mergers between different business groups so as to streamline the process of creating new products for consumption. These merged firms began to create new methods of advertisement and promoted various items like automobiles, computers, etc. After the merger of many firms, each of them created original works of art like murals and paintings. Over the years, these works became more sophisticated and eventually resulted in television commercials and even television programs. By the mid 20th century, there were already established standards, and all marketing campaigns required producers to follow certain guidelines. For example, companies could not just make products or offer free samples as it would be considered unethical. Nowadays, this rules and regulations are still followed so that the general public has an idea regarding what marketing is. At first, only big corporations had this influence but as more information about marketing came to the public, it gradually became a common practice amongst small businesses and individual entrepreneurs. Many celebrities were also part of this movement as they influenced many people through the media and television screens. Currently, marketers are constantly trying to find ways of making their messages reach out to wider audiences. Although globalization has affected every industry globally, it has certainly brought positive impacts as far as marketing goes. Globalization can act both positively or negatively depending on the circumstances and marketing can take advantage of either situation. One thing is clear though; without proper understanding of the current trends in marketing and advertising, the world would end up being very uninformed. With this research paper, the audience will gain knowledge about the history of marketing before and during the early 1900s. Through this, they will learn its similarities and disparities in comparison to present days. Overall, it will provide sufficient knowledge to the readers who are interested in learning more about marketing as a career.

The Impact of Technology in Marketing

Technology is the key factor behind several changes in the field of marketing. New ideas and concepts on how the modern marketplace operates have occurred due to technological advances. Such inventions include the internet, mobile devices, voice recognition software, and GPS systems, to name a few. While innovation can bring benefits for mankind, it can also lead to negative impacts. Some of the greatest innovations in marketing are related to advertising and include search engine optimization (SEO) and social media. SEO is the technique on how websites rank higher on Google’s search result pages (SERPs). When someone types a particular keyword into the search engines such as Google or Bing, the website comes up in relevant results. A site with high rankings earns more traffic because it appears near the top of the SERP. On the contrary, sites with lower ranking tend to receive fewer visitors. Social networking, otherwise referred to as Facebook and Twitter, is another technology that has gained prominence in our lives. According to statistics, users of the sites spend an average of 40 minutes per day using the sites (McKinsey & Company, 2014). Unlike traditional radio and TV, where it is difficult to measure and evaluate performance on digital platforms, social networks allow users to share experiences on social forums. Companies often leverage this feature to showcase their brand image and promote their products and services. This leads us to say that while most of the technologies mentioned may have a positive effect on the environment, there are others that might pose a threat to humankind. It can happen because the majority of people are busy spending much of their time browsing online rather than doing any physical labor because of the need for time management and efficiency. To avoid problems in future, businesses should start focusing on customer satisfaction. They should pay attention to factors like communication, user interaction, customer service, and availability. Also, they should think ahead so that they are prepared to handle situations in case something happens to customers. Additionally, we can also expect the emergence of innovative solutions that solve existing problems in a more efficient way. Therefore in the long run, it would be good if people learned to appreciate and capitalize on opportunities available to them so that they can reap maximum benefits from the available resources. There are risks associated too, which involves losing money in the worst scenarios. Nevertheless, the presence of these three technologies has enabled businessmen and women to have greater freedom when it comes to marketing their brands. This has created a scenario wherein the world is becoming smaller, and a person in a developing country does not have the burden of paying hefty taxes. Today, a single click on YouTube opens access to numerous videos containing useful information that can help you accomplish your daily tasks. In some parts of Asia, young children now learn about electronics and computers at an earlier age than ever before. Technology has changed everything ranging from how families communicate to how businesses compete. However, for marketing purposes, technology cannot replace human interactions and interaction on the ground. Because of the fast flow of information across the globe, marketers have to go back to basics to deliver quality content that resonates with consumers.

Impact of Digital Media on Modern Customer

Today the world is becoming increasingly digitized. People are living in an advanced stage where everything you do depends on technology. Smartphones, tablets, computers, headphones, iPods, laptops, etc. are part of everyone’s everyday routine. Not only this but companies have discovered new ways to improve customer engagement. They come up with novel ways to convert their potential buyers into actual consumers. A study in Harvard Business Review states that companies that successfully engage with their target markets through the Internet, social media, web and mobile apps, have generated $22.2 billion in extra profits and increased sales by 4.5 percent in 2014 alone. Hence, businesses don’t necessarily need to hire full-time employees anymore but instead engage with their workers in order to know what their needs and expectations are. Online marketing is also the best alternative for businesses because it allows them to interact with their clients and prospects. Customers can easily get a hold of a product or a service from wherever they are located even if they are miles away. Thus, it would appear that digital media indeed plays a significant role in contemporary times. Before the creation of gadgets and smartphones people hardly interacted with the global community. Since then, online marketing has provided the entire population with the ability to access the best information at their fingertips (Miles et al., 2006). Furthermore, the usage of smartphone technology creates avenues where individuals can have direct contact with the companies they want to purchase their products/services from. Lastly, consumers now buy products from diverse sources including the ones they access on their mobile phones. Every industry today is embracing the wave of change towards electronic commerce and e-procurement. These two processes have become a part of people’s everyday lives. Despite the fact that the number of smartphones in the United States has declined considerably over the years, the devices have become more effective in connecting customers with suppliers. If digital media were limited just to newspapers, magazines, television, and radios, the rest of the world would probably remain unread, thereby affecting the growth of economies. Mobile devices can connect consumers not only to buying but also to sellers. Moreover, the rise of e-commerce sites acts as an important means of delivering customized goods to specific customers and thus ensures that sellers maintain competitive advantages. Consequently, this implies that although online marketing has its limitations, it still works as a powerful force that transforms the way global trade operates. The same applies to digital media because it enables companies to stay informed regarding current events and trends in business. Most importantly, it lets companies make predictions about what might occur in the future thereby allowing them to adjust accordingly so as to adapt to the impending challenges. Unfortunately, companies that fail to incorporate mobile technology, especially those in emerging countries such as China, India, Vietnam, etc. risk losing control of global trade, thereby posing a serious security threat. Yet, despite concerns surrounding privacy and misuse of data, most of the business models still lean toward providing detailed descriptions of products or services. Consumers can get details such as warranties and costs of purchasing different commodities through online portals. Nonetheless, having such details might raise ethical issues as some potential buyers might view them as a source of information that is capable of leading them astray. Ultimately, there are so many options today where consumers can go to obtain vital details concerning products and services. Even though such a move might seem unreasonable