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HISTORICAL DEVELOPMENT OF MARKETING.

13 Feb
2016
marketing concept with business graph and chart hand drawing on blackboard

HISTORICAL DEVELOPMENT OF MARKETING.

Marketing  developed as society moved from a self sufficient economy to a socio-economic system which involved the division of labour and industrialization. In an agrarian economy, people started producing more than they required on some items and less than they required of others. This is called for exchange (trade) which is the heart of marketing.

The need for exchange gave rise to emphasis on production, with little or no attention to marketing, small producers began to manufacture in larger quantities in  anticipation of future demand. This gave rise to further division of labour and, consequently, a types of business developed to help sell the increased output. This types of business served as an intermediary between the producers and customers. Thus, it can be said that advancements and reinforcement in marketing go hand in hand with advancements in civilization.

Marketing started in the advanced countries during the mid 19th Century and got to the developing country such as Nigeria in the early 20th Century. In the United States, for instance, modern marketing was born with the industrial revolution marketing remained an infant during the last half of the 19th Century and the first two decades of the 20th century.

In Nigeria, modern marketing is a new development. It was  not started early enough and at the same rate as it did in most developed nations. This was as a result of indigenization of Nigeria companies and its market was opened to other companies of the world. This gave rise to competition which, in return, paved the way for professional marketing. It was only in the early 70’s that the University of Nigeria (Enugu campus) became the first Nigeria university offering a degree program in Marketing. Being so recent in the country, at the time, Most Nigerians were yet to know what marketing is all about.

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