MKT 337 Chapter 1: 1.4 Why Study Marketing?
Document Summary
Over 100 years ago marketing did not exist as part of business operations - resources were scarce and manufacturers could sell most of what they produced. The faster manufacturers could produce them the more money they would make so the focus was on production, not marketing. Over time with increased production capacity, there were more goods produced than could be sold. Then sales people were hired starting in the 1920s to sell the overproduced products, thus the sales era began - after the. Second world war marketers realized that a more efficient approach to selling was to focus on customer needs and provide products that meet those needs. The fundamental objectives of most businesses are survival, profits, and growth. Between one-fourth and one-third of the entire civilian workforce in the united states performs marketing activities. Marketing career opportunities also exist in a variety of nonbusiness organizations, including hospitals, museums, universities, the armed forces, and various government and social service agencies.
