VIABILITY OF THE CONCEPT OF

Abstract

Market' and 'Marketing' are, perhaps, as old a phenomenon as 'Civilization' itself. Apparently, the Emily settlers who evoked the initial germs of civiliza-tion would have felt the need of exchange of goods and services, thereby, giving rise to the first rudimentary institutions of 'market places' and 'marketing'. With the passage of time, and ever increasing complexity of civilized living, and concentration of population, the scope and objectives of these institutions would have gradually and steadily expanded. Needless to emphasize, that the advancements in science and technology which would have motivated people to converge into over increas-ing and constantly expanding communities, later to be known as Urban Centres, would have brought in concomi-tant variations in the disposition of these institutions of 'market places' and 'marketing'. In effect these institutions would have evolved Into their present con.. figurations through a long process of inter-action with social and economic demands and needs of the people inhabiting the ever increasing communities and settle- ments. Thus, the transformation of these institutions, from the Greek Agora to the Roman Forum; the medieval 'merchantile guild' to a European Market; the civic centres of new of Harlow, Hampstead-heath etc.