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List the four eras in marketing history in chronological order.Briefly describe the philosophy behind each era.
Product Promotion
A marketing strategy aimed at increasing consumer awareness of a product or brand, generating sales, and creating brand loyalty.
Product Differentiation
The method of differentiating a product or service from competitors in the marketplace to increase its appeal to a specified target audience.
Monopolistically Competitive
A market structure in which many companies sell products that are similar but not identical, allowing for some degree of market power and product differentiation.
Economic Profits
Economic profits are the excess returns over the total costs, including both explicit and implicit costs.
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