09/08/2022
The term “marketing” appeared in the 1900s to describe activities and institutions taking place in markets. Marketing Management, which was published in 1967, was the first text to use an analytical approach to marketing. The book synthesized ideas from economics, behavioral science, organization science, and mathematics. 💡
Value creation was always the core intention and that hasn't changed with time. Marketing is all about understanding, designing, communicating, and delivering value. What has changed are the tools that companies use to create value. Data analytics, automation, and artificial intelligence are very powerful tools in managing value, but they are just tools. 🛠
In the old days, a brand simply told you what the product is and does and how it’s priced. But today, a brand is the company’s promise to deliver a specific benefit that addresses a particular need of its customers. 🧍♀️🧍
As more and more products are becoming commoditized, customers are looking beyond functionality for something that is meaningful. It is no longer just about the product. It is also about who the company behind this product is and what this company stands for. 🤝
What do you think - will marketing become something completely else in the future, or will it come back to it's roots, to the good old ways? 🤔
