From subsistence level and self-sufficiency to modem marketing has been a long journey. Advent of money led to the rise of markets and exchange system. 

The evolution of modem marketing can be traced through the following stages: 

1. Production-Oriented Stage (1869-1930): In this stage the motto was ‘sell what can be produced’. There was acute shortage of goods and there was no need to create demand. Product was the focus of attention and communication with the buyer was not needed. Products were manufactured on the assumption that customer would search and buy well build and reasonably priced products. This was based on Say’s law: ‘Supply creates its own demand’. Production oriented stage lasted till the Great Depression. 

2. Sales-Oriented Stage (1930-1950): Great Depression resulted in drastic changes in buying habits and behaviour of consumers, technological advancements in transportation and communication also changed the thinking. The focus shifted from production to selling. How to sell became a problem and the new motto was ‘get rid of what you have’. The focus was on increasing sales rather than on consumer satisfaction. Demand out stripped supply and it was still a seller’s market. In the last stage of marketing, i.e., Marketing oriented stage, customer satisfaction became the principal reason for corporate existence. They realised that in order to survive and grow in this highly competitive world, a company must first determine what consumers want. Then produce that will satisfy consumers.