Last updated on January 1st, 2024 at 05:21 pm
The growth and the development of marketing did not become sudden. Marketing has passed many stages with the gradual growth and development of human civilization and economy. The development of marketing can be divided into many stages.
In this blog, we will discuss the evolution of marketing in brief from the barter system to the International economy.
Evolution of marketing
The evolution of marketing is generally divided into these five stages as follow:
1. Self-sufficient economy
A self-sufficient economy is a pre-marketing stage in which people have minimal needs and wants which people can fulfill their needs and wants themselves.
Similarly, In a self-sustaining economy, people meet their needs and desires with agricultural products, animal rearing, hunting, and so on. In this stage, people neither bought nor sold any kind of commodity.
2. Primitive barter system
In the same way, With the growth of human development and civilization human needs and wants were increasing. People could not fulfill their daily basic needs by themselves. Hence people depend on other people for a particular good and they are involved in producing specific goods.
In the primitive barter system stage people start to develop the practice of exchanging goods. People exchange goods with other people according to their needs. Marketing activities were completely based on the barter system. This stage was known as the early marketing stage.
3. Monetary economy
In the barter system, there were many obstacles. That is why money was discovered as a medium of exchange and a standard value to measure the product. The monetary economy replaced the barter system.
In the same way, Products were sold and bought in terms of money which was the turning point in the evolution of marketing. The monetary economy enlarged marketing activities with rapid expansion. It is also known as the actual stage of origin of marketing.
4. Urban/ Town economy
In the same. With the expansion of communication and transportation, many areas were developed as towns or urban areas.
In the urban areas production of the product, buying, and selling activities were started. Such an economy emerged after the Industrial Revolution.
5. International Economy
Similarly, At present marketing activities are not limited only to the urban areas or country but worldwide have become a big market. Only one country is not self-dependent.
All the nations of the world are satisfying their needs and wants through marketing activities at the international level. In the same way, many business organizations like WTO, GATT, ITC, and so on regulate marketing activities throughout the world.
As we discuss the evolution of marketing, we discover a story that reflects our journey as humans. Human beings have evolved from self-sufficiency to global interconnectedness. So, marketing transformed to meet our ever-changing needs and wants.
Think about the ancestors, they did not need to worry about buying or selling. As humans grew and connected with others, human needs expanded beyond what we could make ourselves. This gave birth to the idea of swapping what we had for what others had.
Then, with the development of money, a game changer that made things simpler. With the help of money buying and selling of the commodity become easier. Then, marketing had a new language to speak.
In the same way, with the growth of the town, factories were started and the products and goods flowing in and out, marketing took on a new shape. Advertisements filled the streets and enticed people to try new things as well as experience the convenience of this changing world.
And now in our digital age, we all are part of a global neighborhood. So, as we wrap up this journey through the evolution of marketing, remember that it’s a story about us.
It’s a story of how we’ve learned to talk to each other, found ways to share what we create, and built a global community of buyers and sellers. As the world keeps changing, marketing will keep changing too, but at its heart, it will always be a reflection of our journey as humans.