Marketing
Marketing is an aspect that is used in the business to ensure the growth of the business. Marketing has evolved with time, and some of the marketing practices used today were also used in the twentieth century. Some marketing concepts such as value, production, competitions and role of government in marketing also existed in 1700 and 1800 hence showing the evolution of marketing in the globe. The paper will discuss the evolution of marketing, and more specifically, marketing theories and practices that were applied in marketing between the 1950s and 1980s will be discussed. The manner in which these theories and practices influenced the transactional approach will be discussed in the essay. The paper will also address how and why marketing changes in the 1980s and the challenges marketers face in the future.
The 4ps model of marketing is one of the marketing practices that played a significant role in the transactional approach. These practices include product, price, promotion and placement, and these practices are also used in today’s marketing. Based on placement, quality products are positioned in a place that is highly accessible to the customers. Promotions were the ads used to create awareness of the products distributed through the transactional approach. The price of the products is a significant determinant of the attraction of customers to the business. The quality of the brand is the key aspect that ensures that positioning, price, and promotions are effective and helps in the transactional marketing approach’s success. The other concept that is used to promote transactional theory is market segmentation and brand image. Market segmentation was used by marketers to make decisions on the brand image that satisfies the customers. Market segmentation focuses on targeting particular customers who would result in an increment of profit. Infrastructure development led to the development of televisions used to aid distribution through advertisement to promote the distribution of products.
Transactional marketing grew rapidly in the United States and the United Kingdom, and hence television advertisements were effective in reaching the customers. Macro marketing was also introduced in the 1970s that examined strategic planning to help businesses adapt to the environment’s changes. The practice of marketing research was also involved in the 1970s to ensure that the companies understood the business establishment’s environment. The research would help business managers to develop marketing management practices.
Marketing discipline started changing in the 1980s due to changes in the traditional marketing paradigm. New supremacies were established. The marketers experienced different sociopolitical environments and businesses that were different from those in the United States. The expansion of businesses increased, and the microeconomic marketing view was inadequate in the country. Transactional marketing was criticized because of the difficulties that this marketing approach faced in the new environments. The marketing changes were experienced because of some factors that include post Second World War, buoyant and the economy of the United States. These factors resulted in the creation of a competitive environment, and companies evolved in the 1980s. One of the challenges that are experienced by the marketers was that they suffered new sociopolitical environments. These environments affected the marketing procedures and made it hard for the 4ps of marketing was effective. An example of the marketer that suffered marketing challenges in Europe. According to this article, Europe and other marketers that worked within the industry faced these challenges.
The relationships between Europe and other marketers with other businesses in the industry were tensed. The challenge of stiff competition from other businesses has been mentioned, making marketing ineffective in countries like the United States and the United Kingdom.
In conclusion, marketing is important, and the evolution of the strategies in the twentieth-century impacts today’s marketing. The evolution led to the development of the 4ps marketing mix that is used to reach the customers. Also, evolution has led to the development of marketing segmentations that would help marketers make the right decisions for their business. The marketing discipline changes due to the rise of powers and other competitors that made it hard for marketers to have been addressed. Stiff competitions were felt when companies had to interact with other companies. The country’s economy also influenced the marketing that would help in the company’s technological growth. Changes have continued to occur in the twenty-first century compared to the twentieth century. For instance, the promotion strategies used in this era were not the ones used in the twentieth century. Marketers should accommodate improved marketing strategies for better results.