Which of the following eras would best be described as one during which business was focused on selling?

August 1, 2017Marketing1

companies began to realize that they must also take into consideration the long-term interests of the society. Societal marketing, an offshoot of the marketing concept and corporate social responsibility, began in the late of 1960s and early 1970s. It challenges companies to work for the benefits of both consumers and society while still attaining a profit. E.g. the Body Shop, a skin and cosmetics company, sells products that are made with only 100 percent natural ingredients.

Hive studio saw that it is time to begin to believe about how your marketing essence will evolve in the upcoming years. It’s a good way of thinking to look back for a moment, assess the success and improvement of the previous years’ marketing campaigns, and consider ways to evolve your Marketing approaches in the year to come. Marketing serve a variety of functions. As our Concerns at Hive Studio First and foremost, marketers are responsible for keeping an eye on what people need and want and then communicating these desires to the rest of the organizations. Marketing helps establish desirable pricing strategies and promote an organization by persuading customers that their products are the best. As you’ve learned, a product is any tangible good, service, or idea available for purchase in a market, as well as any intangible benefits derived from its consumption, such as the brand. Marketing is also responsible for distributing Products to Customers at a place and time most suitable to the customer. But perhaps the most important aspect of Marketing, as reflected in the AMA’s most recent definition is to successfully establish meaningful relationships with customers, to instill loyalty, to ensure repeat business. Marketing is one of the most visible functions of any organizations; however, the public sees only the tip of the Iceberg.

Evolution and Nature of Marketing across the 5 improved Eras

1- The Production Concept Era

Hive Studio realized that most companies focused solely on production thus the production concept Era Evolved. A production orientation business dominated the market from the beginning of Capitalism to the mid 1950’s. The prevailing mind-set was that a good quality product would simply sell itself. This approach worked for many organizations during this Era because of strong demand and limited supply of product. Whenever demand outstrips supply, it creates sellers market.e.g. Henry Ford is motivated to remark in relation to his Model T Cars that customers could have ’’any color ( they wanted), so long as it is Black’’. At the time, Black was the only color available.

2- The Sales Concept Era

In the first part of the Era, in 1920s through the 1950s, technological advances accelerated production, however, the United States was in the middle of the great depression, during which unemployment nearing 30%, and people bought only what they absolutely needed. Supply exceeded demand for most products; therefore, competition for customers becomes more intense. Hive Studio emphasizes the importance of the Businesses that began to undertake aggressive sales tactics to sell or “push” their products, and the use of heavy public advertising in all available forms of Media become prevalent. During this Era, Marketing generally took place after a product was developed and produced Even today, many people associate Marketing with Selling or Advertising; however, it has become much more than that.

3- The Marketing Concept Era

By the 1950s, Production continued to expand more quickly than the growth in demand for goods and services, creating a Buyer’s Market and the start of the Marketing Concept Era. After WW2 consumers were be gaining to tire of the “Hard Sell” tactics that companies were using to force them to buy products they didn’t necessarily want or need. Eventually, businesses became to realize that simply producing quality products and pushing onto Customers through attractive Advertising and Promotional Campaigns didn’t guarantee Sales. Companies needed to determine what customers and then produce products that met those wants and needs, as opposed to producing products and then trying to convince customers to buy them.

Hive Studio highlights the Marketing Concept which changed the Focus from Finding the Right Customer for a product to producing a Right Product for a Customer and doing it better than the Competition. The marketing concept also focuses on aligning all functions of organizations to meet or exceed this customer needs through superior Products and customer service, as well as realizing a profit ( not just sales ) by satisfying customers over the Long Term. e.g. GE was one of the First companies to implement this new Marketing Strategy that Focused more on meeting the needs of the Customer. GE’s 1952 report outlined the Philosophy:’’ thus Marketing, through its studies and research, will establish … what the customer wants in a particular product, what price he is willing to pay, and where and when it will be wanted.

Marketing will have Authority in Product planning, Production Scheduling, and Inventory Control as well as Sales, Distribution, and Servicing of the Product”.