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LU2: The History of Marketing - Coggle Diagram
LU2: The History of Marketing
1950’s
5
years
after
the end of the
WW2
ended
Europe
and
Japan
still
recovering
and rebuilding.
American
factories were running at full capacity with mass production and mass distribution of goods.
Mass distribution
was accompanied by
mass advertising
for the first time.
Factories could sell virtually everything they could make so most concentrated simply on producing as much inventory as possible.
1960’s
American
factories kept focusing purely on
quantity of goods
.
American
factories were now more than
20 years old.
European
and
Asian
factories were brand-new and generally far
more efficient.
America
, faced with tough
competition
for the first time
15
years after the end of the WW2, America now has a
highly competitive market.
neither manufacturing a high enough quality product nor inexpensive enough product to be successful. (America)
1970’s
What do you do when you produce too much for your country to
consume? Simple, look for more customers…
globalise
!
Advertising
and
brand strength
gave way to price promotions in the belief that consumers would buy more if the prices were not as high.
While the
sales
and
marketing
departments are opening new markets for
American goods around the world
, many of the
companies are having price wars in the US
.
The price wars only
decreasing
profits.
1980's
Looking for
increased profitability
given that the Marketing division had maximized the number of consumers they could reach
the finance department of major manufacturers began to
take more and more control
.
This time they were able to
cut
tremendous
costs
out of the
manufacturing
of goods
sometimes by
cutting
inefficiencies
out of the process and sometimes by actually
cutting quality
Most consumer
goods
were
‘re-engineered’
to get the best product at the
lowest possible cost.
1990's
Since the
beginning
of
mass production
, the
manufacturer
had
ruled
the marketing game
Manufacturers
created
,
produced
and
sold
whatever products they believed consumers would buy. (Sometimes they were right and sometimes they were wrong)
Stores
were simply the
‘middle-men’
for the most part doing what manufacturers told them they should do.
All that changed with the birth of the
Universal
Pricing Code (UPC)
and
scanner
, which gave stores instant detailed sales data.
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2000
the
Internet
has
revolutionized
how many businesses operate
No longer
do you have to shop for cars by
travelling
dealer-to-dealer
and reading every advertisement.
No longer do you have to hope you will get a fair price; the
Internet
will provide you with
multiple offers on everything
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