Marketing is a term used to describe all the different activities involved in the sale of goods and services from producers to consumers. The modern marketing concept, applied by most successful small businesses, aims to focus all activities of a company on discovering and satisfying customer needs. The functions generally associated with it are advertising, sales and promotion. Marketing also encompasses product development, packaging, distribution, pricing and other functions. Looking at the timeline of marketing, the modern concept of marketing evolved during the industrial revolution in the 19th and 20th centuries. Currently, the proliferation of goods and services, increased worker skills and technological advances in transportation, refrigeration and other factors have facilitated the transfer of goods over long distances and have led to a demand for more advanced market mechanisms and sales techniques. Marketing is the source of many important new ideas in management thinking and practice, such as flexible manufacturing systems, flat organizational structures, and an increased emphasis on service, all designed to make businesses more responsive to needs. and customer preferences. This suggests that small business owners need to master the basics of marketing to be successful. It was not until the 1930s that companies began to place more emphasis on promoting and advertising their products and tailoring them to specific consumer needs. In the 1950s, large companies began to develop and implement marketing strategies that complemented and guided their overall operations. In the 1970s, the main marketing trend had a beginning...... middle of paper ...... With this, a company would logically price a product at the caliber that would maximize its profits. The price a company charges for its products, however, varies depending on its long-term marketing strategy. For example, a company may set an extremely low price for a product and its product in hopes of increasing its market share and securing its competitive presence, or simply to generate a desired level of flow. Another producer may set the price of a good at an astronomical level in the hope of conveying to the consumer that it is a quality product. Another reason a company may offer a product at a very high price is to phase out the good in an effort to maximize the dollars available from consumers inclined to pay different prices for the good. In all cases, price is used as a tool to achieve overall marketing objectives..