Four Eras of Development of Marketing ThoughtTo better understand the history of marketing, we need to focus on the four different eras of development of marketing thought. Before formal marketing was defined, the “pre-marketing” period existed before 1900 and was rooted in economics (Wilkie & Moore, 2012). Although there is no formal definition of marketing, concepts related to marketing have been considered (Wilkie & Moore). From 1900 to 1920, “Era 1: Foundation of the Field of Marketing” was defined, with the primary focus being on distribution (Wilkie & Moore). ). Previously, the economy did not focus on the marketing of distribution services, but rather on production which included land, labor and capital (Wilkie & Moore). New courses at universities have been developed to study different aspects of marketing (Wilkie & Moore). The importance of agriculture during this era placed more emphasis on the commercial distribution of agricultural products (Wilkie & Moore). The next era of the market was “Era II: Formalization of the Field” and occurred from 1920 to 1950 (Wilkie & Moore, 2012). . During this period, marketing developed further as an academic field (Wilkie & Moore). There were also many transitions within society during this period: great prosperity in the 1920s, the Great Depression in the 1930s, and World War I in the 1940s (Wilkie and Moore). Marketing has been influenced by greater technological advances, mass production, developing marketing history, and consumer choice (Wilkie & Moore). In the 1920s and 1930s, consumers were increasingly frustrated with product prices, quality, and shortages (Wilkie & Moore). The AmericanMarketing Association and the Journal of Marketing were established in 1936-1937 (Wilkie & Moore). Scholars have focused more on ...... middle of paper ......nge (Kotler & Keller). Differentiation Companies today must face customers who are less loyal to specific brands and more sensitive to price and quality (Kotler & Keller, 2012). Businesses strive to determine what sets them apart from their competitors. As companies compete to please their customers more, they invite them to participate in design and marketing activities (Kotler & Keller, 2012). In Nike online stores, consumers can customize their products as they wish (Larson, 2011).ConclusionThe story The development of marketing thinking demonstrates the changes that have occurred in marketing over time, often driven by dramatic changes. Today, businesses face different challenges in market management. As a result, they must constantly review their strategies and try to anticipate changes that could disrupt their business...