The Revolution of Marketing between 1950 and 1980

Introduction

In the 1950s and 1980s, marketing as a topic was revolutionised by a range of theories and
methods that embraced higher degrees of theory than in previous years. This practise
established a successful transactional Marketing approach through the use of certified
principles such as the Marketing Mix and Marketing Management. I will also explain how
and why, as well as important marketing difficulties, the marketing discipline changed in the
1980s now and in the near future.

What is marketing? what is marketing?

The definition of "Marketeering is the social process by which people and organisations get
what they need and want by generating and exchanging value with others" is based on
satisfying consumer requests that emphasise the value of the customer (Kotler and Armstrong
2010). In my own words, marketing is a business discipline that mostly focuses on customer
satisfaction through the communication and exchange of value-added goods or services. In a
transaction technique, this might be done as a strategic approach that concentrates on the
single point of sales and places enormous weight on consumer retention and interaction
compared to a relationship marketing approach. (CRMFS, 2018)

In the 1950s marketing

Borden (1954) created the transactional strategy in the early 1950s, consisting of 12 elements
named the 'Marketing Mix.' The approach was a transactional approach. But McCarthy
(1960) quickly reconstructed and cut into four "pricing, product, promotion and placement"
elements, in order to develop a marketing plan (Grönroos, 1994a, 1994b). The combination
of the factors reflects another and combines it for one purpose – selling. There are more
frequent factors such as promotional incentives in the marketing mix than in creating a
relationship, as the objective of a transactional paradigm is to achieve the sales volume in a
shorter time period. [Int. J. Electronic Management of Customer Relations, Vol. 4, No. 2,
2010];

Furthermore, the 1950s also ignored marketing, making the transfer into a more managerial
kind from a former functionalistic school of thought. This move increased problem solving
and decision-making, as more questions were asked about how marketing worked compared
with how marketing worked. (Egan, J, Marketing's 100 Years).

Various societal and economic variables favouring the marketing mix paradigm were devised.
For example, in 1925, the United States and the United Kingdom had a stronger economic
strength in the world. It was estimated that GDP was estimated to be at $730,545, and
$231,806, and dramatically changing to $1,455,916. The economic strong results affect
consumer lifestyles which characterise social identity and new lifestyles.

Further, other social variables included the development of infrastructure that permitted
distribution at a higher level of rural to urban migration. Both causes raised demand and
expanded markets beyond the former geographical limit (Eric H Shaw and D.G Brian Jone,
Marketing Theory 2005). Likewise, television brought the possibility of advertising to broad
audiences, and publicity expenses rose with the start of ITV in 1955 in the United Kingdom.
The means of ensuring consumption kept up with production with tremendous demand levels
via the aspect described was marketing. marketing (Egan, J, 100 Years of Marketing). This
socioeconomic reasons have resulted in a global adoption of transactional marketing
paradigms through greater consumption which led to education in schools in this marketing
(Dixon and Blois, 1983; Kent, 1986).

In the 1960s marketing

The main theory known as joint analysis, created by Professor Paul Green, was computer
technology during this period (Green and Rao, 1971). Many broad themes, such as social and
behavioural patterns, qualitative analysis and the environmental restrictions have now been
examined in marketing. Conjoint analysis allowed marketers, such as consumer preferences
and reactions to new or altered items, to perform a broad range of testing. This theory has
enabled marketers to obtain a better knowledge and more successful marketing mix
decisions, as better information is possible.

In the 1970s marketing

At the time, Kotler (1972), the lead marketing author, believes that marketing administration
needs to change its marketing decision factors in a way that maximises the targets of
companies, taking into account the anticipated comportement of uncontrollable demand
variables. The macromarketing and strategic planning schools have been formed as two main
theories. (Egan, J, Marketing's 100 Years).

First, macromarketing's purpose is to examine how marketing can affect society and how
society can influence marketing as well. The strategic planning school on the contrary
focuses on its ideology in order to analyse current relationships regarding environmental
change. Additional notions such as marketing, which is defined as a kind of marketing aimed
to change behaviour and network marketing, became clear (Egan, J, 100 Years of Marketing).
In 1977 the American Marketing Association and the Institute of marketing sciences found
that academic marketing could not further advance marketing management (Mentzer and
Schumann, 2006). There have been many objections and the transaction paradigm has been
examined. For example, transactional marketing outside the original context has been shown
to be problematic. In addition, consumer expenditure has concealed faults in the current idea
as a result of a thriving economy. Transactional marketing has also been shown as a theory of
growth and not stagnation, since markets are developed with a set amount of consumers and
product overloads when competition and the number of enterprises rise. (Egan, J, Marketing's
100 Years).

How marketing has changed since the 1980s

In certain conditions, such as in economic growth in comparison to economic Stagnation, the

transactional paradigm was problematic both with regard to the theory and practicalities
behind it. Here, you can see a fitting definition of another defect that explains how Dixon and
Blois (1983) are not customers — customers are someone to whomever 'something is done'
rather to 'who is made for' (quoted in Grönroos 1994, p.6). Finally, it is a unique technique
that overlooks the greater contentment of its customers.

Between 1950 to 1980, a mass market, followed by world wars, with high levels of
consumption in a generally homogenous market, can be described. As markets changed in the
post-1980s and became more heterogeneous, the transactional paradigm in such markets no
longer suited and functioning. In addition, the marketing management wanted to be a strategy
and waste of funds. Another contextual alteration.

The long term establishment of customers and businesses has been regarded suited to the
customer relationship Marketing as a replacement for previous transactional paradigms. An
example of this is provided by Reichheld[86]: "By fifth year, the company is increasing its
profit by 60 percent at MBNA (in the US credit card industry) by 5 percent" " (p. 65).

Now and in the immediate future, key challenges for marketers

Today a new era of digital marketing emerges through technological developments, which
take marketing to a whole new level, including global television publicity, social media
platforms such as Instagram and internet resources such as YouTube. Social media have
enabled celebrities such as YouTube star Zoella to access items online to worldwide
audiences, as marketing is much more interconnected. The mass marketing costs could now
be an issue as so many various and expensive strategies are available.

In addition, Amazon and eBay offer rapid feedback on online shopping platforms for their
services and items that may be easily accessed online. Moreover, the interconnectedness of
many countries has permitted international interactions to develop the improvement of
marketing in its whole. Another difficulty is that consumers are more demanding and aware,
and that marketing is irrelevant and suitable will not be allowed to happen.

Tesco and Nike are another example of marketing customer relationship management. A
specific link resides here between the company and customers, since at Nike they are able to
buy things online and in store and modify them to their taste, called 'Nike ID.' In addition,
Tesco has a 'club card' concept, which creates a relationship between the company and the
client since the customer receives points that can be traded for discounted products, thus
providing a trusted relationship that allows them to return to the business in order to achieve
their objectives.

Conclusion

Finally, it is clear from the text that marketing has dramatically transformed itself from a
transactional approach to a more customer-compliant and managed approach, since this
approach is more efficient and adaptable to a global public who have access to a variety of
expert online platforms via the Internet.