Evolution of the marketing concept from 1.0 to 5.0

• Published in: Marketing (Beograd) 2024, Vol.55 (1), p.52-66
• Main Authors: Madić, Vladan, Slijepčević, Milica, Vučenović, Tamara, Alimpić, Stefan
• Format: Article
• Language: English
• Subjects: marketing 1.0; marketing 2.0; marketing 3.0; marketing 4.0; marketing 5.0; marketing concept; stages of evolution
• ISSN: 0354-3471; 2334-8364
• DOI: 10.5937/mkng2401052M

The aim of the work is to analyze the development of the marketing concept by stages from Marketing 1.0 to Marketing 5.0. The characteristics of each phase, the differences between them are analyzed and the factors that lead to the transition from one phase of evolution to another are identified. The marketing concept has evolved and progressed since its inception until today, from simple exchange and trade to marketing in the digital world. During the evolution, the application of the marketing concept has contributed to the achievement of the company's goals while satisfying the needs and desires of consumers and taking care of the long-term interests of society. The marketing concept changed and evolved under the influence of various environmental factors. Technological innovations and digitization are not the only factors that have influenced the evolution of the marketing concept. Previous scientific works emphasize the impact of technological progress on the evolution of the marketing concept. The work enriches and complements the literature on marketing from 1.0 to 5.0 by researching and analyzing, in addition to technological progress, changes in the market, changes in consumer behavior and changes in society that influenced the development and evolution of the marketing concept. Taking into account the latest trends in marketing, the authors indicate the next phase in the evolution of marketing.