1. History of Marketing: Theoretical Perspectives & Evolution 1
History of Marketing: Theoretical Perspectives & Evolution
Marketing Management
Charlie Venero
Assignment #1

2. History of Marketing: Theoretical Perspectives & Evolution 2
It was believed that, "In an age of big business, he argued, it is unrealistic to think of
markets of the classical kind. They set prices and use advertising to create artificial demand for
their own products, distorting people's real preferences. Consumer preferences actually come to
reflect those of corporations—a "dependence effect"—and the economy as a whole are geared to
irrational goals. In The New Industrial State Galbraith argued that economic decisions are
planned by a private-bureaucracy, a techno structure of experts who manipulate marketing and
public relations channels. This hierarchy is self serving, profits are no longer the prime
motivator, and even managers are not in control."