ThoughtCommons - The History Of Marketin

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2015 A.D. Google Age

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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

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Initially people use to live in small-small groups spread across the world

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Each group was a market in itself, disconnected from the rest, it had its own set of small marketers

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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

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Marketer These chit chats were natural and organic conversations, marketers had no means of encouraging or influencing it

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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! Shop 11

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

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Marketers that were popular and were doing well in one market

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Were not known to anyone in another

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

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and then

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Things Changed

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People started staying in bigger groups closer to each other

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Television and newspaper came

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National and global marketers emerged and mass marketing was born as the same marketers could now talk to consumers from different groups

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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”

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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

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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!

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and then

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Things Changed

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

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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

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Now word-of-mouth was spreading far and wide

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Multibillion dollar marketers, if not liked, were thrown down by consumers overnight. Good marketers were getting over night popularity without spending any marketing money.

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

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Marketing and business was changing forever and some marketers were fast at reaching new heights

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Others found their way out of market!

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