The Rise and Fall of Modern Marketing — and its Rebirth

In mainstream textbooks modern marketing is regarded as being based on the marketing concept and to include management-oriented activities that revolve around the marketing mix and its four Ps. The needs and wants of the customers are established through market research, and in this way the customer input into the marketing planning and implementation processes that is required according to the marketing concept is achieved. Is this modern marketing today, in view of the current situation in most market-places and the continuing development towards more global competition, maturing markets and more sophisticated customers? The purpose of this chapter is to discuss what modern marketing is, and what it is not. It is suggested that the emerging relationship marketing is a new marketing paradigm that goes back to the roots of the marketing phenomenon. Fundamental cornerstones of what now is considered ‘modern marketing’ have to be rethought. Therefore, six propositions about relationship marketing are formulated and discussed.

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