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The economy as we know it today has gone through immense changes during the hundreds of years it exists. From the early forms of barter in the Stone Age to first attempts of mass production in the time of the industrial revolution and to e-commerce and emotional marketing in the 21 st century, the world has seen many different ways of producing and selling goods. As man has made so many inventions and improvements to products and machines to make life easier, our demands and wishes also changed throughout the years. This development is visible in our standard of living and in our consumer behavior.
We are used to a lot of amenities that were unknown to people in the 18 th and 19 th century. While they had to deal with problems like supporting the family and staying healthy in order to keep their jobs, we live today in a secure society with totally different needs and wishes. On the other hand history is repeating itself in many either visible or invisible ways. Although life today is different from life during the industrial revolution there are also similarities that can be noticed. By analyzing marketing measures used in the different periods I will try to show the development of marketing in the society in the 18 th century and today and give an outlook on the future. 2. Bridge Assignment: The Buying and Selling of Dreams by Lane Jennings (Article on the book The Dream Society by Rolf Jensen, McGraw-Hill, 1999) 2. 1.
What is emotional marketing? According to Rolf Jensen, director of the Copenhagen Institute for Future Studies and author of the book, The Dream Society, the future of business lies not in selling products but in selling dreams and emotions. Because of these considerations a new form of marketing was created: Emotional Marketing. He profiles six emotional markets: the market for Adventures, for Love, Friendship and Togetherness, the market for Care, the Who-Am-I-market, the Peace of Mind market and the Conviction market.
Companies try to place their product on the market that suits it best, for example the love, friendship and togetherness market is the perfect location for goods like perfume or restaurants and entertainment in general. The products stories are tailored to the particular market and their target group; on this market, for example, the feeling of friendship and having a good time is emphasized. The goods are actually exchangeable, but it is the story behind them that counts. The one with the best story makes the deal. The one that can better adjust the story to the consumers needs and wishes is more successful. 2. 2 Why is it necessary? The surplus society has a surplus of similar companies, employing similar people, with similar educational backgrounds, working in similar jobs, coming up with similar ideas, producing similar things, with similar prices and similar quality. (Kjell Nordstrom and Jonas Ridderstrale, Funky Business) As we are living in a surplus society right now, companies have to find ways to stand out against their competitors.
Some ten years ago there was far less competition on the market and normal advertisement was sufficient for selling a product. Now the situation has changed and companies have to create other ways to become the consumers favorite. So they try to manipulate the customers shopping behaviors. It is not only a product anymore; it is a certain lifestyle or political attitude.
The bird-friendly coffee I buy, makes not only clear that I like to drink coffee, but even more important that I care for endangered birds and it shows my environmental awareness. The coffee is thus not only a coffee; it is a statement. Therefore the company with the better story and the better statement is likely to win the customer and with him the market share. And that is all that counts in our surplus society with similar products and similar companies: the story makes the difference. 3. The Industrial Revolution by T. S.
Ashton 3. 1 The history of the Industrial Revolution in Great Britain Due to some dramatic technological, socioeconomic, and cultural improvements in the 18 th and 19 th century the face of England changed (Ashton, p. 1). It is not the short period of time that is meant by revolution, but rather the fundamental changes that offered new possibilities and revolutionized the life of the British and that of other nations. The use of new basic materials, e. g. iron and steel, and new energy sources such as coal or the steam engine and the inventions of new machines, e.
g. the spinning jenny and the power loom, altered production and the products as well. All these inventions permitted an increased production with a smaller expenditure of human energy. The factory system, a new organization of work, entailed increased division of labor and specialization of functions. Other important developments, such as steam locomotive, automobile, telegraph and radio, that took place in the transportation and communication area and the increasing application of science to industry, made it possible for Great Britain to reach a highly developed position among the competitive countries.
The non-industrial fields also saw a lot of changes, for example agricultural improvements, economic changes that resulted in a wider distribution of wealth, political changes reflecting the shift in economic power, as well as new state policies corresponding to the needs of an industrialized society. The growth of industrial cities contributed to the immense social changes that determined the Industrial Revolution in the social sector. The first working-class movements were visible during that time and the workers acquired new skills and instead of craftsmen, they became machine operators. All in all the time of the Industrial Revolution described a starting point for new inventions, technological development and a new confidence of man in his ability to use resources and to master nature. 3. 2 Marketing Activities in the Industrial Revolution At first glance the terms Marketing Activities and Industrial Revolution seem to exclude themselves and in the first years of industrialization there was probably no need for marketing measures as transportation and communication means were still developing, but later with a wider range of products first forms of marketing could have appeared. A growing population was one significant detail of the Industrial Revolution; therefore a growing demand for goods was recognizable. This fact coincided with a technical and economical development that helped to satisfy the increasing demand and raised the standard of living of many people (Ashton, p. 4 - 5).
With a rapid increase of capital the number of people with incomes more than sufficient to cover the primary needs of life (Ashton, p. 6) was growing. There were more people and more people with money to spend on goods produced by new companies and therefore the supply and demand was regulating itself in these days. Marketing measures were not necessary as there were always enough requests for a certain number of products. In the early years of industrialization products were distributed only regional and not nationwide. That meant fewer competitors in a region and because of a large loyalty every merchant had his regular customers; there was still no need for price policies, advertisements or other marketing instruments. With an explicit production for the market and improved transportation there was the beginning of interregional trade and growth in geographical specialization (Ashton, p. 52).
Customers came in touch with different products and I can imagine that this exchange of goods created a need for merchants and producers to start advertising for their products. Now the link between trade in the times of the Industrial Revolution and todays marketing measures becomes visible for the first time: with the further improvement of products it became more and more important to stand out against potential competitors. Nobody could rest on his laurels, as the consumer had a choice now what to buy. The Darwin slogan Survival of the Fittest could also be used in this context and Josiah Wedgwood learned that very quickly (Ashton, p. 64 - 66). His Etruria works were well known for quality pottery and he realized in a short period of time that the success of a product comes from the best production methods and a first-class labor force. He invested a lot of time into experiments and new inventions for the manufacturing process and in the training of labor and the selection of salesmen and managers.
This can be regarded as the first form of marketing, because Wedgwood used his qualified employees as figureheads for his quality goods. With well trained personnel he could not only lower production costs, but skilled salesmen could also improve the products as well as the companys reputation. Even if this is only a slight hint on early forms of marketing, it still proves that it already existed in the 18 th century and became more and more important throughout the years. 3. 3 The history and development of marketing The Industrial Revolution created new possibilities for consumers and producers. New inventions and improvements to existing manufacturing methods gave companies a chance for large-scale production and for exporting their goods to other regions of the country. In the course of time marketing and advertisement was developing in order to get the consumers attention. Competition began.
Advertising started as early as 1704 in the US with a newspaper advertisement in a Boston Newsletter and was first officially recognized as a business in 1843, when Valley Palmer opened the first advertising agency in Philadelphia. When in 1882 Procter & Gamble Co. began its advertisement for Ivory Soap with an unprecedented budget of $ 11. 000 the starting point was set for big budget advertisement campaigns. Marketing measures expanded to the radio stations in 1922 when the first commercials were sent and reached the television one year later. In the course of time companies learned of the importance of creating an image for their product through advertisements; and so the Marlboro Man was born in 1955. With the Internet as new medium marketing and advertisements concentrate on a totally new field and the World Wide Web is the new marketing instrument in the 21 st century. 4.
The Future of Marketing Like every product, marketing is also subject to a life cycle. Right now the graph is still increasing as we see by the immense number of marketing campaigns and strategies, but there will be a decline in the course of time. In my opinion it will first be increasing in the next years as the products offered on the market become more and more exchangeable and can only be distinguished from each other by their stories and statements (see 3. 1. ). Because of a larger competition, companies are forced to come up with new and creative ideas to sell their goods and I think the Internet will play an increasing role in the future marketing strategies. Customers will be able to access different channels (retail stores, catalogs, call centers and the Web) and companies will have to develop plans in order to reach the right target group with the right message.
At the turning point of the graph companies will be concentrating more on retaining customers than on acquiring new ones, because customer retention is much less cost intensive and on the other hand consumers will be less likely to try new brands. That is why there will be a growing number of loyalty programs, frequent buyer programs and other benefits for loyal customers. Because of market settlements in the near future they will not be distracted by a mass of new products on the market anymore, but they will demand a better and efficient service of the companies. An excellent customer service and quality goods will replace good stories and statements in the future. People pay a lot of money for the product and if their service expectations are not met they will take their business to another company. The consequence will also be a new era of e-commerce and shipping as consumers chose to shop from the comfort and safety of their home and at any time they want.
Overall one can say that there will be once again a change and this time towards campaigns stressing the quality of the product and the excellence of customer service. Since the times of the Industrial Revolution and the development of new companies and new products the necessity for marketing has grown. There have been several turning points during the time: first with a brighter spectrum of goods in the 1800 s the need for advertisement was created, then with an affluent society in the 20 th century the need for emotional marketing was born and in the future there will be again a stronger consciousness for quality and price and with it a change in marketing activities. You can identify recurrences of economic aspects throughout history and there will always be, with slight changes and adjustments to the particular situation, reappearances of social, economic and technological developments from the past even in our computerized 21 st century world. Bibliography: T. S.
Ashton: The Industrial Revolution, Oxford University Press, 1968 Lane Jennings: The Buying and Selling of Dreams, Futurist, Aug/Sep 99, Vol. 33, Issue 7, p. 8 Rolf Jensen: The Dream Society, McGraw-Hill, 1999 Advertising Age: The Advertising Century: web Sandra Gassman: Future of Marketing for 2002: New Priorities, Part I and II, 2001 web
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