The story of marketing is much older than most people think. Historians believe that the concept began as early as 1500 BC. C. (before the Common Era), when Mesopotamian societies started to mass-produce products that needed quality control.
We often talk about the ROI of marketing, or the return on investment in advertising, as if it were a fixed and immutable number. However, the influence of marketing has grown significantly since the introduction of printing in the 15th century. As marketing evolved, it gave rise to the first modern marketing measurement strategy, marketing mix modeling (MMM). This was when the first version of the four P's of the “marketing mix” was implemented. Some economics professors began teaching courses that examined different aspects of the marketing system, including distributive and regulatory systems.
When radio advertising entered the marketing landscape, investment in radio advertising quickly surpassed print advertising. In this section, we will briefly discuss the contributions of key thinkers with respect to the mainstream schools that have dominated marketing thinking. Kristin Hambelton, CMO (chief marketing officer) of Marketing Evolution, shares her views on different ways to drive change.