Industry Revolution & Marketing Evolution - Story behind largest democracy

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 Perhaps "Marketing" was known to human from the day 0. But the word never existed in Webster dictionary before 1910 coinciding with that time Industry Revolution 2.0. During this period production increased many fold with introduction of assembly line and so constraint shifted from supply to demand. So need of Marketing as a separate subject was heightened. 

Marketing concept evolved since then 

  • Production concept (focus on reducing cost)
  • Product concept (focus on product quality)
  • Selling concept (push through commercials)
  • Marketing concept (focus on customer's need & want)
  • Social concept (focus on social benefits)
The image speaks volumes about then sentiment. Now the same Ford site allows customer to build its own car!

In Industry Revolution 4.0 - Internet and IoT age, marketing has evolved to "Democratic concept" where customer regulates, executes and judges. Where everything is decided by likes, dislikes, ratings - sentiments. Today India is not the largest democracy but Facebook with more than 2450 Mn population!
But be mindful of the fragile boundary or we may take a "Nosedive". 
 

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