ThoughtCommons - The History Of Marketing

2015 A.D.Google Age

Fast-forward Two monkeys gave birth to the first ever man who

after some time learnt to settle down at one place with other men and women around thereby creating a

market for goods and services

Initially people use to live in small-small groups

spread across the world

Each group was a market in itself, disconnected from the rest, it had its

own set of small marketers

The only source of information were the chit chats they use to share and the only way anyone would hear about

a product was from their friends and family

Marketer

These chit chats were natural and organic conversations, marketers had no means of encouraging

or influencing it

Word-of-mouth was the most credible and influencing source of information

You must check out the new stuff at shop no. 11

This is good stuff, I must

buy this!

Shop11

But

word-of-mouth wouldn’t spread far and wide

Marketers that were popular and were doing well in

one market

Were not known to anyone in

another

As a result, no marketer could become big enough to benefit from economies of scale and the market wasn’t truly competitive

and then

Things Changed

People started staying in bigger groups closer to each other

Television and newspaper came

National and global marketers emerged and

mass marketing was born as the same marketers

could now talk to consumers from different

groups

Markets became truly competitive and a lot of effort had to be put in on marketing to create a differentiated brand

“eggs”

“organic, fat free, low calorie, high protein, bigger, tastier eggs!”

“eggs”

As a result, big-global players emerged and enjoyed a monopolistic like market as they had enough money to spend on marketing keeping small and new players under their feet

The picture shown by these marketers was not regarded credible by consumers because of their false promises

What the hell!

Sir! Our latest mirror helps you

loose weight instantly!

and then

Things Changed

With advent of internet, each person was connected to and was talking with many others

This sucks! Don’t buy

this.

This is awesome! Buy this.

Consumer opinions for and against brands were spreading faster and wider than ever as people could talk with the

entire world on the internet thereby influencing each other’s purchase decisions

Now

word-of-mouth was spreading far and wide

Multibillion dollar marketers, if not liked, were thrown down by consumers overnight. Good marketers were getting over night popularity

without spending any marketing money.

For the first time smaller-mouse-sized marketers became big enough to make the otherwise bigger

ones dance to their tunes

Marketing and business was

changing forever and some marketers

were fast at reaching new heights

Others found their way out of market!