In those days when there was a single company producing things, the market was a monopolistic one. Whether the public liked it or not, they had to buy goods and services offered by the concerned authority. Slowly after markets got freed up, competition started increasing and that was the end of the monopolist reign – in simple words that was a death blow to monopolist anarchy. As competition in the market increased, companies started looking for more profits in goods and that they realized can only be brought about by winning over the consumer rather than increasing the price of things.
It was the volume of sales that would decide the profit and not by charging exorbitant prices from consumers; that they realized, would further put off consumers and destroy their customer base. Then marketing strategies were formally introduced in the business. Then advertising came along as a …
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