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Evolution of Marketing

Updated on April 3, 2013
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Marketing Stage

In the Primitive stage of the economy everyone used to satisfy his wants through his own efforts. There was no need to produce for others and in consequence there was no body or market. Due to progress in culture and habits, the demand for the products was increased. Accordingly specialized persons started producing the goods to satisfy the wants of the people. Barter system further strengthened the idea of cooperation by mutually exchanging the goods from one individual to another.

The stage of Barter

In the pre-industrial era, agriculturists and craftsmen were the main producers. The agriculturist, whether he produced corn or cotton, meat or butter, disposed of the surplus after meeting his own requirement, In his immediate neighbourhood. These products were required in the neighbourhood by those who were not engaged in the same activity, for example, the craftsmen who produced leather goods, hard tools, utensils and furniture, bartered them for the corn, cotton, meat and butter produced by

the agriculturists. There was no elaborate distribution system as the habits and needs of the people and prevailing technology did not demand such a system. In other words, marketing under those conditions meant a task or producing the basic necessities of life and exchanging them with known customer groups in the immediate neighbourhood. This represented the stage of barter in the evolution of marketing.

The Stage of Money Economy

Money economy came into existence in the place of barter system. The change was limited to the replacement of the barter system by the money system with the result that pricing becomes the chief mechanism of marketing.

The Stage of Industrial Revolution

Far reaching changes took place in the stage of industrial revolution. It bore the germ of a new business system. It introduced new products, new system of manufacture, new modes of transportation and methods of communication, and brought about sweeping changes in the physical and economic environment of man. Mass production became the order of the day. The industrial revolution also generated the income revolution. giving a great deal of disposable surplus income to a large mass of people. And it was this income revolution that sustained the mass production and mass distribution unleashed by the industrial revolution.known in the previous stages. The situation of competition phenomenon demanded a conscious effort to face the competitors and the firms had to ensure that their products were accepted in preference to those of their competitors.

The Emergence of Marketing

The second world 'war gave an impact in the growth of population, increase of disposable income of the average family, introduction of a great variety of new products and services and strengthened the consumer market. At the same time, selling of products and service become unusually difficult because of the high intensity of competition. It was a situation of abundant choice to the consumers and the consumer began to occupy a place of unique importance. The businessmen also'realised their situation of competition and maintenance of consumers with the convenience and availability of products and place, with the emergerence of marketing.


Classification of Market

Market has been classified, on the basic of different approaches as given below:

I. COVERED AREA

1.Family Market: When exchanges are confined within a family or close members of the family, such a market can be called as family market. When exchanges are confined within a family or close members of the family, such a market can be called as family market.

2.Local market: Buyers and sellers belonging to a small area met their requirements by exchanging their surplus goods. Usually, such local area comprised the town and a few villages around the town.

3.Regional market:It refers to a large geographical area consisting of a group of towns. The sellers and buyers from many villages and towns participate in it.

4. National market:It refers to the whole country when it is regarded as one market for a certain commodity or commodities.

5. World (or) International market:

When purchase and sales involve buyers and sellers of several nations i.e. called world or international market.

II. NATURE AND VOLUME OF BUSINESS

1.Whole sale market: It is a market, where goods are supplied in bulk quantity to dealers.

2. Retail Market : In this market goods are sold in small quantities directly to the consumers

III. ON THE BASIS OF IMPORTANCE

1. Primary market: It is the market in which primary producers of farm produce sell their farm products through this type of markets to wholesalers or their agents. Such market can be found in the villages and mostly the products arrive from villages.

2.Secondary Market: It refers to the market when wholesalers sell their products or goods to retailers and also the users or consumers directly.

3. Terminal Market : in this market goods are purchased for final consumption in the market journey of commodities from the place of its origin comes to an end.

IV. ON THE BASIS OF RULES AND REGULATIONS

1. Regulated market: Markets are organised, controlled and regulated by statutory measures.

2. Unregulated market: This is a free market. There is no control with regard to price, quality, commission etc., Demand and supply determine the price for a particular product.


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