Part a) Describe the particular context/socio-economic situation in which modern marketing emerged and thrived
Part b) You should then discuss in what ways this context has changed and how the marketing discipline has changed & needs to change further in order to adapt to the current and future needs of firms, consumers/customers; perhaps even alluding to society in general.
According to Marketing Association (1985, as cited D. Hall and R. Jones 2010: 48) "Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organizational objectives". Hall D (2010: 48) points out that the objectives of marketing are to
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In the years of 1950 Marketing in Europe was not as developed as in USA (Meek and Lenney 2012: 9) In the 1950 the marketing mix was introduced by the Borden (1954 as cited O’Malley and Patterson 1998: 833), this concept was composed from 12 principles: product, price, branding, distribution, personal selling, advertising, promotion, packaging, display, servicing, physical handling, fact finding and analysis. However later on McCarthy (1960 as cited O’Malley and Patterson 1998: 834) reduced it to a shorter version, which is known now as the "4Ps model of marketing", which includes only price, place, product and promotion. Although, some scholars were arguing that it was an infelicitous concept. For instance Brown (1993 as cited O’Malley and Patterson 1998: 833) proclaimed ‘ the propagation of debatable concepts – even with all the appropriate health warnings and assurances of achievements to come – is counterproductive at best and pernicious at worst’, marketing mix had its own followers and owing to this concept enormous amount of textbooks and research works are based on it.
During the twentieth century relationship marketing was developed. RM was one of the key developments in the marketing history. The history of marketing included different stages of development, which were; consumer marketing, industrial marketing, non-profit and societal marketing, services marketing and relationship marketing at the end of 1990. RM was influenced by all