thoughtcommons - the history of marketing
TRANSCRIPT
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!