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How Marketing Theories and Concepts have changed in the Last 60 Years
Marketing theories have been changing over the last 60 years, and even beyond, as various other concepts keep redefining with time. It is important to look at how marketing evolved over the years in terms of theories and concepts, with a special focus on the 20th and 21st centuries. Prior to the 20th century, the Pre-Academic Marketing Thought was functional (Shaw and Jones, 2005, p.241). It is during this period that the Simple Trade Era and a section of the Production Era thrived (Steve, 2010). During this period, there was little academic approach towards marketing, and production of trade items was mainly by hand: hence a limited supply to the markets (Steve, 2010). However, during the production era, production became industrialized, and this led to the availability of more market supplies.
After the production era, there was so much in the market that the producers were not able to sell everything supplied, hence the development of the Sales Era, where the seller had to market their goods using sales strategies. During this period the theory of traditional approaches to marketing was at work, up to 1955 (Shaw and Jones, 2005, p.242). Traditional approaches to marketing involved concepts such as classification of commo