Asked by Muhammad Ahmed on May 11, 2024
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During the production era of the early twentieth century,the supply of goods exceeded consumer demand,so efficient manufacturing processes were required to maintain profitability.
Production Era
A period in the history of marketing thought, roughly from the early 20th century until the 1950s, where the focus was on production capabilities and efficiency rather than on meeting the needs of customers.
Consumer Demand
The desire and willingness of consumers to purchase goods and services at various price points, driving the market dynamics for those goods and services.
Profitability
The ability of a company to generate earnings more than its expenses and costs, determining its financial success and viability.
- Understand the evolution of marketing thought from the production era to a market-focused approach.
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Learning Objectives
- Understand the evolution of marketing thought from the production era to a market-focused approach.
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