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Has the marketing definition changed?

Date: 03/14/2006 | Category: Business | Author: arvind

Definition of marketing has not changed over the years. It has remained the same what it was 50 years back. It is still the same ‘commercial functions involved in transferring the goods from the producer to the end user’. What has changed over the years the way it is implemented. It used to be very simple earlier – competition was almost non-existent, or very small with each of the producers having own territory to guard. Consumer behavior was near static with no radical changes every two years. The scenario has changed drastically now. What was ‘in’ last month cannot be a ‘hot’ thing today. Marketer has to keep on analyzing the environment all the time now. Study the consumer behavior and shifts on a regular basis. These changes must reflect on the product designs. One may not need a new to the world product each time there is a shift in the tastes and preferences. However, these changes have to be responded to, may be in the form of distribution, packaging or communication. 

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