The Seven Eras of Marketing. Which one WE are in?
Simple Trade Era (Pre-Industrial Revolution): The simple trade era was a time when everything was hand created and only available in a limited supply. It was also a time when basic commodities ruled. Households would produce what they consumed.
Mass Production Era (1860s-1920s): The production era began during the Industrial Revolution. Products were produced in mass and at a low cost. Typically businesses only produced one product at a time. Also during this era, businesses had the mindset of, “if produced, someone will buy” and thus increase profitability. Due to the current market, businesses could sell anything they produced.
Sales Era (1920s-1940s): As the market continued to become more saturated and intensify, competition increased among businesses. This created a need for marketing and sales techniques. Companies hoped through persuasion techniques that they could convince customers to purchase their products. However, companies were concerned with selling products simply to get rid of them for a profit, not because it would fulfill the needs of their customers. Everything in the sales era was about the price, not the quality of the products or the customer needs.
Marketing Department Era (1940s-1960s): The marketing department was defined during this era. We see advertising, sales, promotions, and anything marketing related all grouped into one department.
Marketing Company Era (1960s-1990s): This is an era when the marketing department takes control. We see the marketing department help guide a company’s direction. All employees are also involved in marketing, making it important for the success of the company.
In addition, there is a shift from mass production to the need to satisfy customers. The customers become king and are now the main focus. Businesses survive because they are here to fulfill the needs of customers. Distribution channels and pricing strategy are also defined during the marketing company era.
Relationship Marketing Era (1990s-2010): During the relationship marketing era, the focus is not only on creating relationships with customers but also long-term relationships. The ultimate goal for businesses is to create customer loyalty. Businesses want to create products that will ensure their customers come back every time.
Social/Mobile Marketing Era (2010-Present): Businesses focus on being social and connecting with clients in real-time. Due to technology, businesses and customers can communicate 24/7. The customer is in the driving seat now, not businesses.