Part a) Describe the particular context/socio-economic situation in which modern marketing emerged and thrived Part b) You should then discuss in what ways this context has changed and how the marketing discipline has changed & needs to change further in order to adapt to the current and future needs of firms, consumers/customers; perhaps even alluding to society in general.
According to Marketing Association (1985, as cited D. Hall and R. Jones 2010: 48) "Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organizational objectives". Hall D (2010: 48) points out that the objectives of marketing are to satisfy consumer needs, determine requirements of potential buyers, understand and identify demands, tastes and preferences; to cope with arisen problems in sales, to compete with the competitors and finally and most important to get a profit. As Bartels (1976, as cited Egan, 2011: 6) argues the history began from the Industrial Revolution in the end of nineteenth century, where marketing had its first sprout, due to increased quantity of the production and hence decreasing the prices. Partly marketing had its roots from economics, however it was self-depended. Jean-Baptiste Say (1803, as cited Egan, 2011: 6) states Economists argued that there can't be any demand without supply. However, marketers found that demand includes not only the ability to purchase, but also aspiration of the consumer, therefore it was suggested that there plenty ways to increase the desire of people to consume more through such factors as advertising, distribution and so on. This essay will discuss the history of marketing and how it was changed through the years and in what socioeconomic situation it was discovered; and finally how it should be changed in order to cope with future marketing standards. As it was mentioned before marketing has developed due...
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