Marketing involves creating, communicating, delivering, and exchanging offerings that have value for customers. There have been five eras of marketing:
1) The Production Era (before 1925) focused on producing quality products and assumed customers would buy them.
2) The Sales Era emphasized sales effectiveness but believed customers resisted buying unnecessary items.
3) The Marketing Era (1950s-1990s) shifted focus to satisfying customer needs and introduced concepts like buyer/seller markets.
4) The Relationship Era (1990s-present) developed long-term relationships with customers, suppliers, and partners for mutual benefit.
5) The Social Era allows customers to access marketers using the internet and social media to
2. What is Marketing
Marketing is the activity set of institutions and process for creating,
communicating, delivering and exchanging of offerings that have value
customer and the society at large.
Marketing involves the term Utility, which is want-satisfying power of a good
and or service.
There are four basic kinds, Form, time, Place and ownership utility
3. Eras of Marketing
The reason for marketing involves how customer relationships are managed,
and the exchange process.
Exchange process is an activity which two or more parties give something of
value to each other to satisfy their needs
The way in which this relationship formed came in a process, which gave birth
to the 5 different eras
The Production era Sales era, Marketing era, Relationship era and the Social
era
4. The Production Era
The first era before 1925. it was a product oriented era which most business
deemed very successful.
Product orientation is a business philosophy stressing efficiency in producing a
quality product, with the attitude toward marketing that “a good product will
sell itself”
5. The Sales Era
As production became more sophisticated, marketers began increasing
emphasis on the effectiveness of sales
This brings about a more sales oriented era
Sales orientation is the belief that consumers will resist purchasing
nonessential goods and services with the attitude towards marketing that on
only creative advertising and personal selling can overcome consumers
resistance and persuade them to buy.
6. The Marketing Era
This era brought in a shift from products and sales to satisfying consumer
needs.
With it, the marketing concept was created such as sellers market, buyers
market, etc
It was a consumer oriented era which is defined by emphasizing first
determining unmet consumer needs and then designing a system for satisfying
them
Marketing and selling no longer were synonymous in this era
7. The Relationship Era
This era emerged in 1990 and continue to grow in importance
This era focused on the development and maintenance of long-term, cost-
effective relationships with individual customers, suppliers, employees, and
other partners of mutual benefits is
8. The Social Era
This is the era that allows customers access to their marketers using the
internet and social media.
This era helped build the relationship era further allowing companies to
connect to customers even on a personal level.
