Reversing the Norms From Brick & Mortar to Digital Marketing
How did it all begin?
Change has always been constant. We realised it in a hard way only when Covid-19 struck the entire world. Man is known for evolution, for centuries we have created, established and succeeded in connecting the entire world as one today.
The dictionary recognized the term marketing in the 16th century. Marketing was previously known for buying and selling goods & services. Commercially this concept was acknowledged only for items that became popular in the late 19th century. The concept came into existence in the 20th century. People started making it their profession. Historians then state thatModern Marketing was recognised only after the Industrial Revolution took place in Britain.
From Marketing in Antiquity to Digital Marketing sellers have come a long way.
What was it like?
The very first areas where people exchanged goods for goods through the methods of barter systems were called bazaars. The very first market places were found in Persia, Jamaica, Spain, Mexico and the Philippines around 3000 BCE. The marketplaces were set up either every day or on specific days of the week. From open areas to private gatherings marketplaces started gaining popularity once weights & measures were used enabling the customer to buy goods at a fair price. Today online marketplaces are accessible for purchasing items & E-Commerce Websites help in displaying, distributing and selling products for sellers.
Marketing after the Industrial Revolution
The Industrial Revolution changed the dynamics of the age-old ways of trade and commerce. Once Machines were invented to manufacture goods there was an increase in demand, supply & competition for all traders around the world.
The Industrial Revolution had set the stage for a new professional field of marketing. A segment was created with companies to plan & strategise methods of placing, positioning, reaching out to customers and keeping up with competition among peers. The Industrial Revolution was a milestone achieved and every day was a new learning day, a step ahead towards modernization. Great Britain with the help of colonies in North America, the Caribbean Islands & the northeastern subcontinent of India via the activities of the East India Company were the reasons behind the Industrial Revolution.
Traditional Marketing VS Modern Marketing
Historians say that Marketing existed from the time man began trading practices. Although there is not much evidence of that. But history has helped us distinguish between marketing methods and how these methods can be used in modern times.
Every brand's approach towards its marketing initiatives has to be planned around a structure.
Which structure would you choose for your brand the modern way or the traditional way? Let's list the differences below.
Marketing which involves human interaction and all of its activities are offline is called traditional marketing.
What is content writing?
Some methods used are:-
- Broadcast on TV & Radio
- Boards on vehicles and public transport
- Ads on newspapers and magazines
- Announcements at public events
Methods that are adaptable, flexible, digitally sound and has performance tracking AI systems in place is called Modern Marketing. The ultimate goal has to be able to deliver the products and services with full customer satisfaction.
- Email Marketing
- Social Media Marketing
- Website Marketing
- Search Engine Optimisation(SEO)
- Affiliate Marketing
- Content Marketing
- Internet Ads
Journey Of Marketing from Brick & Mortar to Digital Marketing with some important statistics.
The Grand Bazaar:-
The world's oldest bazaar is in Istanbul.A perfect example of brick and mortar used for marketing in ancient times. The structure is standing from the time of its construction which began in 1455. Today operational with 61 covered streets and 4000 running shops. Known as the world's 1st shopping mall.
New Century Global Centre:-
Speaking about malls NCGC in Chengdu China is the largest mall in the world with 4,00,000 square meters in area. It has a huge aquatic water Park and 1000 rooms for the Intercontinental Hotel.
The top 3 global online marketplaces are:-
- Amazon with more than 5.2 billion visit
- eBay with more than 1.7 billion visits.
- Ali Express with more than 573.4 million visits.
Online marketplaces today occupy 18% of the retail market share worldwide.
The Father of marketing is Professor Philip Kotler. He is the author of over 80 books on Marketing & Economics. Hitler is known as the Emeritus of Marketing at Kellogg School of Management in the United States Of America. His definition of the marketing mix is most popular around the world..
Total account holders on social media platforms are:-
There are a total of 4.5 billion social media users around the globe.
The top 4 are:-
- Facebook- 2895 Million
- Youtube-2291 Million
- Whatsapp-2000 Million
- Instagram-1771 Million
Hope you enjoyed reading about how far marketing concepts and techniques have evolved over the centuries.
For more exciting insights on digital marketing log on to our website dgeniussolutions.com also follow us on Linked In Facebook and Instagram.