okay so we'll continue on now and we'll take a look at the progression of marketing or rather the evolution of marketing marketing is still relatively young as compared to accounting or economics you can see really it it only came about at the turn of the 20th century uh back in the 1900s at that point we had what was known as the production era of marketing uh then it was definitely far from the marketing that we know now uh companies let's say for the Model T uh companies made products they did not speak to customers at all about what they might need or want they made products and customers would come and buy the products that were made that was it it was purely a production and then you come and buy that was it there was really no uh two-way interaction there as far as communication about what type of a product or service a customer might need or want the the period between the 1920s and the 1950s really began to change that the 1920s industrialization as Farm life started to dwindle or decrease rather uh more individuals started to leave the farm and move more towards the city and began to work in factories and then we had the 1930s the Great Depression followed quickly by the 1930s we had World War II during the 1940s during this time we had factories making more products until of course they went into wartime efforts of making products to support the war overseas in Europe and Asia and then you had individuals who had less money a large part of the population particularly male were overseas fighting in the war you had more women having let's say Victory Gardens at home and making more items at home they had less to spend over production less buying now you had companies still making products without asking customers but trying to sell those products to Consumers encouraging them motivating them that they needed the products that were being produced still not asking the customer do you need this product still producing just trying to sell what they produce 1950s we have our soldiers returning from war and then due to um money they made during the war and then VI GI benefits and VA benefits they had um military benefits that they had coming back from the war they started to move back out of the city into the suburbs and buying their 1.5 cars and because of that then now we have a true shift in marketing this is where we enter the marketing orientation of marketing the marketing orientation ERA this is where companies start to realize we can't just produce and force feed the product to the consumer we're actually going to have to have a two-way interaction with our consumers this is the time period where con companies introduce this thought of marketing research they went to Consumers to find out what are your needs and wants from what they discover about the consumer needs and wants they begin to build products develop services that meet the needs and wants of consumers any company that is now not at a minimum operating at the marketing orientation era uh is most likely struggling because you have to be determined you have to determine what the needs and wants of a customer are in order to develop a product or service that they will come to you for to buy now mid 1990s out and then into the turn of the 21st century we move into the value based marketing this is where we go beyond just needs and wants at this point because needs and wants still focused on one particular thing one-time sale onetime transaction with a customer turn of the century or 19 90 late 1990 um throughout and up until the 2000s we started to realize that truly to last and succeed we needed to move Beyond a one-time transaction focus and instead go to a relational orientation this is what we refer to as the value based marketing ERA this this is when we look at not not in in excuse me not one-time transactions with a customer but instead looking at building a relationship so yes it will we will incur additional costs but the benefits of those costs are we will have a long-term relationship which will benefit us in the long term sustain that relationship ship and we will succeed overall you will hear a term in marketing and management and accounting and finance and economics and IB referred to as CRM customer relationship management that is this it is the value based marketing error okay this is when we focus on relationships in marketing we often say you must be rotten to your customers you think rotten r o teen you must concentrate on relationships over transactions 10 times out of 10 rotten if you're only chasing transaction after transaction with customer after customer you're forever going to chase Le the bottom line if you work on a long-term relationship you have a CRM Focus then that customer will start with one transaction with you the next transaction will be larger the next transaction will be larger because they will trust you each time and that relationship will build and build and build that's the value based marketing error now than to technology we're moving even further down the road in marketing and our path and our growth and we were referring to this time period we're in now as the technology augmented era doesn't mean we're giving up marketing orientation no we're still searching for needs and wants of customers does not mean we're giving up the value-based marketing era no we are still achieving and reaching for customer relationship management however we're now doing it with the tools of Technology it's all being augmented supported with the tools of Technology you look at a company like Amazon and you think about before five years ago 10 years ago when a consumer ordered a package just a simple process of ordering a package ordering a product and having it be delivered before someone would have to go into the warehouse find that product in the warehouse get that product on a truck uh tag it uh and then put in a computer somewhere that it's on its way and then we would never know until it showed up on our doorstep sometimes 6 to8 weeks that's actually what the expectation was 10 years ago 6 to 8 weeks you'll receive your product now now a machine moves about the warehouses the distribution centers of Amazon to pick that item a machine most times assists in putting it on the truck a machine reads the QR code and then we know usually within moments of ordering when we will get it and if we're waiting more than four days we're I rate so that technology is augmenting that value another way Tech technology is assisting us is it's allowing us to allow customers to participate in their service delivery their service or their product creation so we call that value co-creation okay and your book gives a perfect example of that beta brand a clothing manufacturer it allows customers to vote on the style and the fabric of the items of clothing it will produce and sell so the consumer is a capable contributor in the creation of the product therefore contributing to the value they're about to purchase technology is allowing the consumer to Value co-create along with the company certainly that's strengthening that relationship so value co-creation is all a part of the growth in the marketing area what does this all mean for us as marketing well first of all we want to continue to build our relationships with our customers we do not want one-time transactions with customers it means we need to maintain contact with them after purchase to make certain that they're satisfied uh to make certain that that if there is a failure that we can recover in their eyes we'll talk more about that when we get to the consumer decision-making process we need to continue to gather but not just gather information but also analyze information about our customer their purchase pattern their needs and wants their developing needs and wants which will lead to new product ideas so that we can continue continue to be on the Innovative the edge of innovation there thanks to technology we can engage with them interact with our customers in Social and mobile marketing not to the level that it encroaches on them because we do not want them to tune us out or turn away from us but in a way that it can help with that value co-creation we can as marketers we can address ethical and societal dilemmas uh new initiative that all of the beverage makers the coke the Pepsi and the Dr Pepper subsidiary are working together on is to decrease the number of two things they're working on one is sustainability the other is on the health and wellness side though on the sustainability side all have worked to decrease the the thickness of the plastic in order to decrease the amount of plastic going into landfills on the health and wellness side they've actually been doing cross promotion the three companies together have been doing cross promotion on healthier beverages to drink which is interesting considering they all make carbonated beverages but they've been doing that in order to address the societal dilemmas around uh nutrition so these are all things where marketing can create value and be more value value driven so that helps us finish up chapter one we're now going to move on to chapter two where we're going to talk about marketing strategy and then also we'll look at uh the marketing plan okay