A call for a revolution in marketing

David Pearson

As a lifelong passionate marketer I am proud of the role marketing has played in the world economy. Despite the ravages of two world wars and totalitarianism prevailing for decades, more than half the world's population in the 20th century saw the greatest rise in prosperity in history.

This was largely due to a combination of liberal democracy with free market (if not unbridled) capitalism. The engine of this was marketing, as it is about the search for innovative solutions to identified needs, the recruitment and retention of customers, the creation and building of value, the profitable development of the business proposition, the unifying theme of an enterprise, the response to competition and so much more.

In 1989, when the Berlin Wall fell, it seemed as if all the issues had been resolved. Francis Fukuyama called it the end of history. Interestingly, on 29 December that year, the Nikkei index peaked at 38,957.44 yen and has never seen such heights since. It is today 10,798.32 yen.