Explain various stages in the evolution of marketing
Answers
The second stage in the evolution of marketing theory is product orientation. Product orientation is the view that an ideal product can be produced that will have all the features any potential customer might want. This orientation is thought to be a result of oversupply of basic goods.
Answer:
Evolution of Marketing:
1. Barter System:
The goods are exchanged against goods, without any other medium of exchange, like money.
2. Production Orientation:
This was a stage where producers, instead of being concerned with the consumer preferences, concentrated on the mass production of goods for the purpose of profit. They cared very little about the customers.
3. Sales Orientation:
The stage witnessed major changes in all the spheres of economic life. The selling activity becomes the dominant factor, without any efforts for the satisfaction of the consumer needs.
4. Marketing Orientation:
Customers’ importance was realized but only as a means of disposing of goods produced. Competition became more stiff. Aggressive advertising, personal selling, large scale sales promotion etc., are used as tools to boost sales.
5. Consumer Orientation:
Under this stage only such products are brought forward to the market which are capable of satisfying the tastes, preferences and expectations of the consumers- consumer satisfaction.
6. Management Orientation:
The marketing function assumes a managerial role to co-ordinate all interacting business activities with the objective of planning, promoting and distributing want-satisfying products and services to the present and potential customers.
Explanation: