The Market Revolution: The Simple Trade Era

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MARKETING EVOLUTION The Simple Trade Era stretched from the beginning of history and lasted to the mid 1800’s. Everything that was available was made or harvested by hand. Exploration and trade in resources was the focus of the economic activity (White, 2010). Any excess of resources from a household production could be brought to town or trade in exchange for products you don’t have. This type of economy is referred to as pure subsistence economy. In the Production Era, mass production was the primary driver of sales. It started with the indstrial revolution or “the rise of the machines” and lasted for about six years. It increased the product availability in the market place. The Sales Era began at the end of the production era from…show more content…
It establishes new technologies and production processes. Market revolution includes new sets of ideas about gaining profit and risking it. It became a way to transform ways of life into businesses, where farmers and craftsman became entrepreneurs. (Shmoop Editorial Team, 2008)
According to Mitchell (2017), whether it is a short or long-term time frame, in a trending market or a ranging market, changes in the price is what creates a profit or losses. When a large number of people settled to agree on one direction, the market would come to a trend where it could sustain itself for years.
As Voss (2010) stated, a product market is a dynamic exchange that changes over time. The huge number of competitors, the variety of product offerings, and necessity of customer market are in constant flux. The market is driven by relations between sellers who examine the product and prices to gain market share and customers who have assorted and changing
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It has a big impact on the sales and growth of e-commerce. Since the need of the customer for the information and specification of the product that they need can easily be access thru internet, shoppers will have different choices what product to buy. Because of this e-resources, they will also have the choice what online shop will they trust. In addition, an owner of online shop should also consider the design of the website to persuade their customer. It’s one of the components of the purchasing intention of online shoppers. Your website should be attractive enough to please your customer to buy your product and be loyal to your online shop. As time goes by, online shopping becomes in-demand most especially to the millennials
Perceived risk can be reduced when the consumers are more familiar with the online technologies (Kleijnen, 2007). Similarly, Bucklin and Sismeiro (2003) state that consumer's skills are more advanced when they learned how to shop through a site this will increase their efficiency in
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