Definition of marketing and marketing evolution

• Marketing -the management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing:

1. Identification, selection and development of a product,

2. Determination of its price,

3. Selection of a distribution channel to reach the customer's place, and

4. Development and implementation of a promotional strategy.

 

Marketing evoluti on

Marketing Evolution: Key dates

• 1450: Gutenberg's metal movable type, leading eventually to mass-production of flyers and brochures

• 1836: first paid advertising in a newspaper (in France)

• 1864: earliest recorded use of the telegraph for mass unsolicited spam

• 1867: earliest recorded billboard rentals

• 1880s: early examples of trademarks as branding

• 1908: Harvard Business School opens

• 1922: radio advertising commences

• 1941: first recorded use of television advertising

• 1950s: systematization of telemarketing

• 1980s: development of database marketing as precursor to CRM

• 1980s: emergence of relationship marketing

• 1980s: emergence of computer-oriented spam

• 1990s CRM and IMC (in various guises and names) gain dominance in promotions and marketing planning,

• 1995-2001: the Dot-com bubble temporarily re-defines[citation needed] the future of marketing

• 2000s: Integrated marketing gains acceptance and in 2002 its first dedicated academic research centre

Marketing process

Marketing process

Marketing process - Process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others is termed as marketing process.

The marketing process consists of four steps:

1. Analyzing market opportunities;

2. Developing marketing strategies;

3. Planning marketing programs, which entails choosing the marketing mix (the four Ps of product, price, place, and promotion); and

4. Organizing, implementing, and controlling the marketing effort.