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How is the marketing concept and its implementation responding to developments in the Macro-environment?
Pages 12 (3012 words)
Name: Course: College: Tutor: Date: Organizational culture and Knowledge management Introduction Marketing is mainly concerned with trade or exchange. The basic form of trade started when humankind started producing surplus. Humankind produced agricultural products and exchanged them with manufactured goods like earthenware or textiles…
In the 18th century, the economy of UK changed during the early industrial revolution, leading to rise in industrial production and subsequent loss of dependence on agricultural products. Prior to the industrial revolution, the distribution and production of goods was mainly in small scale, (Cant, 2006, p.33). Consequently, industrialization leads to a dramatic increase in productivity, because of technology development. As a result, enterprises enlarged, production increased, and products became more standardized. Companies produced in large numbers for local, national and international markets. Factory systems grew leading to migration of people from rural homes to new and quickly expanding industrial cities and towns. Because of rapid developments during the industrial revolution periods, companies produced volumes more that the local economy could accommodate. Therefore, consumption spread over wider geographical distances, leading to loss of immediate contacts between the producers and the markets. A number of thinking entrepreneurs organized their business transactions in a (marketing oriented” way to deals with this problem, even though the terms “marketing orientation” or ”marketing” were rare until the twentieth century, (Hult and Speh, 2010, p 45). ...
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