Question

Is marketing today essentially still the same business function as was conceptualised in the 1950s and 1960s? Justify your answer. Answered with both Theory and Examples.

Answer 1

Theories:

Marketing is an important part of any business process. To sustain the market it is necessary to formulate effective marketing strategies in the organization. With the effective marketing process, the organization gets the opportunity to increase the revenue generation and can easily target the audiences as per the segments. Marketing enhances the organization to achieve the business target by maximum selling of the products and without marketing the organization cannot extend the outreach of the products to the customers widely.

As compared to the marketing today, in the 1950s and 1960s the format of marketing remained the same. The change that has occurred is on the adoption of new techniques and mediums of targeting the customers have altered a lot in the current age. The previous format in the 1950s and 1960s was to influence the customers via direct interactions and by radio or newspaper communication that were mostly available modes in those periods. In the 1950s and 1960s, the business owner always has focused on this way to target the market and in the current times also the way of targeting the audiences with creativity in conveying the message of marketing is same as it was in past times. The techniques and broadening of the several mediums of influencing marketing to the public have increased to a higher standard as compared to past times.

    

Examples:

Marketing in the 1950s and 1960s

The organization basically used to concentrate on the local audiences as the outreach process to know the demands of the customers were somehow difficult in those periods. The format to promote the product marketing process of any genres was the same but it hardly gets the audience’s attention as no global or mass outreach process was present in those times. Only the way of sending information was through newspapers and radio, the revenue generation was quite less as all segments across different Geographic’s do not get available with such product information or the organizations were get unable to publicize themselves for lack of resources.    

Marketing today:

As compared to the phase of the 1950s and 1960s, the marketing process of today has changed a lot. The format remains the same of marketing but the maximum outreach via different mediums has extended. The mainstream mediums of marketing that have been actively concentrating are social media. The social media has a lot of advantages, as with a simple marketing advertisement, many audiences are being interacted and actively communicated. Their feedbacks are being monitored and also through this process implementations are being done for the future benefit of the production. The process of the current times of marketing is boosting the organization to high-rise the revenues as the ample opportunities are available that can be utilized to target the potential audiences.