how marketing became so important
a. evolution of the market orientation
although they overlap, four distinct stages of north american business history can
1. production era. because goods were scarce, it was assumed products
would sell them- selves, so buyers would accept almost anything. focus
was on manufacturing. lasted through the 1920s.
2. sales era. focus was on hiring salespeople to find new markets and
customers for the firm's existing products.
ran from about 1920 to 196os.
3. marketing concept era. marketing concept is the idea that an organization
a. strive to satisfy wants of consumers
b. while trying to achieve the organization's goals.
marketing concept era means a firm recognizes it is in the business of
satisfying needs and wants of consumers. although many firms haven't
really accepted this yet, the marketing concept era started gaining
acceptance in the 1960s.
4. market orientation era. market orientation means a firm focuses its efforts
on (1) continuously collecting information about customers’ needs and
competitors’ capabilities, (2) sharing this information across departments,
and (3) using the information to create customer value . today, customer
relationship management (crm) is an important facet of marketing where
relationship strategies are developed to optimize the value of customers.