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Marketing in Transition

From the 70s to the Present Days




Kazi Prottoy Ahmed- 84
Monish Das- 103
Ahnaf Tahmid- 116
Ahmed Muntasir Mahin-127


Submitted To:
Dr. Syed Ferhat Anwar
Professor,
Institute Of Business
Administration, Dhaka
University.






arketing today is finally customer-
focused, social media made that
happen. Marketing is about knowing the
market, creating the right product,
creating the desire for that product and
letting the right people know that we
have the product. In this age, after the
extraordinary changes that happened all
over the world, marketing was bound to
change.

A lot have happened since the 70s.
Alongside with the political and
economic turbulences that rocked the
entire world, there rose a batch of
talented and influential marketing
geniuses. People like Kotler, Ogilvy,
Bartel, Porter, Drucker, Levitt,
Christensen and many more have
helped shaping the subject we now
know as marketing. Robert A Bartels in
The History of Marketing Thought
categorized the development of
marketing theory decade by decade
from the beginning of 20th century.
M


But if we consider the time-frame of
70s to the present days, marketing have
experienced radical changes.
But the question remains, did the
principal concept of marketing changed
over the years? The answer is No.
Although the subject itself has
experienced a lot of moderation, the
primary concept of marketing has been
left unhindered.
Then a supplementary question arises,
has the concept of marketing
broadened? The answer is Yes. In the
present days, the changing needs and
wants or tastes and preferences among
the customers lead to paradigm shift in
marketing. This is due to changing
attitude and behavior of the customers,
globalization, increasing purchasing
power and changing life style of the
customers.

Because of these grounds, marketing
have changed a lot from the 70s. But
how was the transition exactly? What
innovations have played part in this
transition? Which concepts have had a
major impact in it?



In the next part of this article, the
authors are going to put the transition
of marketing from the 70s to the
current date in timelines. Thus enabling
readers to have a better understanding
on this changeover.

From 1971 To 1980
E-commerce was invented: E-
commerce is a type of industry where
buying and selling of product or service
is conducted over electronic systems
such as the Internet and other computer
networks.

Newsletter as a medium: E-mail and
fax have started to be used as media for
reaching prospective and established
customers.

Emergence of telemarketing:
Telemarketing first emerges to market
goods to the potential buyers.

Invention of first hand-held mobile
phone: In 1973, Motorola first invented
hand-held mobile phone, thus making a
breakthrough in modern marketing

Rise of TV adverts: For the first time
in decades, there was a decline in press
advertisings. Television has made a
strong ground there.

Invention of online shopping: In
1979, Michael Aldrich invented online
shopping. Thus making intermediary
services redundant.




From 1981 To 1990



From 1991 To 2000
Emergence of relationship
marketing: Relationship marketing
evolved. It differs from the focus on
sales transaction and emphasizes on
customer retention and satisfaction.

Database marketing developed:
Firms began to create databases of
potential customers to generate
personalized communications to
promote a product or service.

Advent of computer-oriented
spamming: Electronic spamming made
ground. Because of almost zero
operating cost, it became popular
among advertisers.

Emergence of guerilla marketing:
Guerilla marketing was utilized. Small
entrepreneurs used this tactics to
market their products in low cost.

Desktop publishing made ground:
Desktop publishing started to
democratize the production of print-
advertising. Thus print-advertising
gained an economic boost

Emergence of EDI: EDI (Electronic
Data Interchange began. Businesses
started to exchange their data.

IMC Gained Academic Status:
Integrated Marketing Communication
(IMC) is an approach to brand
communications where the different
modes work together to create a similar
tone and style that reinforces the
brands core message.

CRM Adoption Increases: Customer
Relationship Management (CRM)
became a model for managing a
companys interaction with current and
future customers.

Advent Of Internet Bubble: Internet
bubble was a historic speculative bubble
which stock markets in industrialized
nations saw their equity value rise
rapidly from growth in the Internet
sector and related fields.

Viral Marketing Ensued: Following a
revolution in IT sectors, companies used
viral marketing to raise brand awareness
or achieve other marketing objective.

2G Mobile Network Advancements:
Mobile networks precede an explosion
in the rise of cellphone uses. Thus
making telemarketing more profitable.

Emergence of Search Marketing:
Search marketing experienced a
tremendous growth. Therefore nudging
advertisers to explore the vast field of
internet marketing.






From 2001 To Present Days
IMC Gained Acceptance: In 2002,
first dedicated academic research
center on integrated marketing
communication got established.

Google Introduced PageRank:
PageRank became the ultimate metric
to rank websites. Thus clienteles could
be easily informed about the websites
traffic rate.

Boom In Permission Marketing:
Permission marketing used in e-
marketing generally. The term was
popularized by Seth Godin and its
where the marketer ask before
advancing to the next step in the
purchasing process

Social Media Marketing: Because of
the current bang in social medias,
enterprises used this opportunity to
advertise for gaining website traffic or
brand recognition.

Integration Of Online And Offline
Marketing: For the first time,
enterprises have integrated online and
offline marketing together to enhance
brand experience.

Decline In Telemarketing And
Spamming: After being coined as
interruption marketing, there was
sharp decline in the both said
marketing policies.


E-commerce Reached Its True
Bloom: Emergence of e-commerce
sites like amazon.com or ebay.com
has changed the natural field of
marketing.

Blogging: Blogging has reached its
true bloom in the last few years and it
has become a place for forward
thinking entrepreneurs to advertise.

Emergence Of Internet
Advertising: For the first time,
internet advertising spending
exceeded newspaper advertising
spending.

Advent Of Smartphones: As
smartphones become more intelligent
and larger as users spend more time
using their phones, a real shift of
marketing to mobile devices can be
predicted.








Linkage between Recent Societal Changes and Marketing:

In earlier days, marketing was more focused
on selling instead of creating values. But
now, the concept of marketing has
changed. With the societal changes during
these years, the various aspects of
marketing like promotion, pricing of a
product, communication method etc. have
changed a lot.
1. Changes in Promotion
Technique: Promotion promises
public awareness of the product.
With the advancement of
technology, new mediums of
adverts like TV channels, websites
has evolved. Marketers are bold
enough to try out new concepts of
innovative adverts.

2. Changes in Pricing: The rise of
societal change like consumer
awareness played a big part in
pricing goods. Branding became
common and it started to influence
the perception of consumers.

3. Changes in Marketing Concept:
Sellers are not the only class that
does marketing, but also consumers
do while they are purchasing and
interacting with the sellers. So the
concept has changed from How can
we reach our customers? to How
can our customers reach us?





4. Emergence of Target Group
Definition: Effective marketers now
dont target the right customers for
their products, but they target the
right products for their customers.

5. Emergence of Consumer
Satisfaction: Total consumer
satisfaction is a prominent feature
of modern marketing. Marketers
now perform the product
development, promotion, pricing
and distribution in such a way that
they can ascertain maximum
consumer satisfaction.

Conclusion:
Despite marketing concepts apparent
insight and importance, it always had to
struggle for continued acceptance. The
concept, idea and methods of marketing
are always fluctuating with societal
changes. For this reason, in the long run,
those businesses survive who can bring
changes in its marketing policy as our
society alters its course.


References:
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Principles Of Marketing, 14
th
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