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Marketing History

In: Social Issues

Submitted By nabs624
Words 910
Pages 4
Nabilah Abu Bakar
Honor 301H
Assignment #3
September 23, 2013

Discipline Historical Events: Marketing

The discipline of marketing can be traced back as far as the Great Depression, when the term “value” was emphasized, rather than the concept of price (Sullivan). Many people have the misconception that marketing is simply the process of selling products and advertisements but there is more to it. Marketing is defined as “developing products to satisfy customers through proper pricing, promotion and distribution” (Marketing: Historical Perspectives). Essentially, marketing is the process of satisfying customer and maintaining a long-term relationship with customers. Thus, there are three events that have significant contribution to the development of marketing.

The first event that happened that affected marketing was when the Communications Act of 1934 created the Federal Communications Commission (also known as the FCC). The FCC was created to replace the Federal Radio Commission, as it was more convenient to have one broad agency that dealt with the communications system. The FCC main goal was to “help regulate advertisements on the radio, and later, television” (Sullivan). This meant that broadcasters and advertisers were able to do business regarding commercial interests with the FCC (Johnson). The creation of the FCC was beneficial to the public because it made communication services such as radio and television available and affordable to the American society. Consequently, the public was more exposed to advertisements and other commercial services. This was a significant step in the marketing discipline because advertisers were able to market their services or products on the radio, television, and other media channels.

Another event that changed the concept of marketing today is the “Four P’s,” also known as the “marketing mix”. The four P’s

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