MARKETING

Marketing: Past, Present and Future

Marketing: Past, Present and Future

Introduction

Marketing is a dynamic and rapidly growing discipline. This is a university discipline that aspires to become a professional discipline (Hunt 1992). Since its inception, the achievements have been made in several areas of marketing. Scholars have relied on the knowledge of such disciplines as anthropology, economics, mathematics, psychology, statistics and sociology. As a result, a rich body of knowledge in the field of marketing has become available and continues to do so. As we move into the twenty-first century, it is relevant to critically assess the progress we have made: What have we learned? What are the gaps? There are marketing as a discipline well positioned to address the challenges of the next century? What future direction should take marketing?

Traditional Marketing

With the world changes every nanosecond, marketing is also reeling under a whirlwind of change. New modes of marketing like e-marketing and online marketing have evolved. Yet traditional marketing still holds sway with many corporations. Traditional marketing operates based on the following strategies (Paul, 1997, p. 23).

Four Ps

Worship them: "Four P" or "marketing mix" is a cliché with every marketer. Goals Jerome McCarthy, "Four Ps" refers to the four factors that a marketer should consider before launching the product or offer the service. Marketing includes product, price, promotion and placement. In the evaluation of McCarthy in the first place is a product of its production and management, and secondly, the process of fixing an affordable price, and thirdly, the promotion of the product, which includes advertising, branding, etc., and, finally, fourthly, placement or distribution of the product, its retail trade and the process by which it reaches the customer. All four of these elements must be agreed and well planned before pitching into any product on the market (Kotler, 2009, p. 143).

Segmentation

Divide your audience: In traditional marketing, the market is segmented into many subsets or segments depending on geographic, demographic, psychological and behavioural graphic variables. Each segment is homogenous and responds in a certain way in one way or another marketing strategy. Small segments are considered markets "specialty" markets as a "niche" or. The product is aimed at a particular segment and starts only after thorough market research and consumer research segment. This assures the marketer that he is not bungee jumping but walking safely and securely on a well-thought-out road. Consequently, a product that is not needed, that a certain segment is not performed (Miles, 2003, p. 75). This is a deep analysis of the target segment is called Depth of segmentation. With all these the marketer draws a marketing plan that is fully focused on achieving the target consumer.

Other Aspects

Traditional marketing, unlike New Marketing, is a company oriented and product-based. He just wants to increase the visibility of the company and its brands. Message is transmitted to the client company-controlled and motivated, unlike the new marketing that consumer focused and customized to the interests of consumers (Hunt, 1992, p. 311). The company became an active participant while the consumer ...