History of Marketing

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The History Of Marketing

As of today, we understand marketing to be a process where the goal is to know the needs of the costumer, and match these with the organizations ability to fulfill these expectations. For this to happen successfully, it is important that the organizations understands both who the costumer is, what value the costumer requires, as well as how to deliver this value in the best possible way. Had it not been for the history of marketing as we know it, our view on modern marketing might have been very different. Whether the difference would have made a positive or negative impact is hard to know, but one thing is certain. The history of marketing is important to understand in order to learn about marketing itself. Even though marketing is known to have had a massive development during the twentieth century, traces of marketing theories can be found long before this time. As an example of this, Ambler (2004) traces marketing thought to the Middle ages with the first formal analysis of buyer motivation by Thomas Aquinas (1225-74) and St Bernardino of Siena`s (1380-1444) recognition of function, market price and psychological benefits. Egan (2008:p5). This is evidence that marketing theories has been around for hundreds of years, even though, during the twentieth century, it became more of a specialist market with independent discipline. As the market in USA at the end of the nineteenth century was changing from a sellers market to a buyers market, marketing started becoming a topic for discussion. USA now had a wider market for a growing middle class, with lower prices and more VARER available, whereas European, notably the UK, had a society consisting of a few wealthy people with most of the country’s money, and many poor with no money to spend on goods. Still, one thing was for sure, during the production era the Industrial Revolution led to a massive and more effective production of VARER (various goods?). Marketers soon began to...
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