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1. INTRODUCTION I was a second-year university student when I first met the concept of postmodernism in one of the optional cultural courses. Looking back, I can state that this was the least understandable series of lessons in my academic studies, and not only because of the numerous foreign words and expressions. Only several years later, when I was thumbing through the Harvard Business Review, did I come across articles mentioning this term again. As it was an old acquaintance of mine, I was interested in what respect the authors discussed this phenomenon. The expression postmodern marketing aroused my attention. The more I read about this concept, the more shocking statements I met. A considerable part of the papers on postmodern marketing were harshly criticizing KOTLERS Marketing Management the Marketing-Bible of all time. Instead of veiled allusions, several authors overtly stated the crisis in modern marketing, arguing that the traditional interpretation of marketing cannot be accepted in a postmodern era. A new conceptual framework, postmodern marketing, should be followed under the slogans of fantasy, nostalgia and mystery. This revolutionary style captivated my interest and induced me to explore this topic. What made the investigation on postmodern marketing even more thought-provoking was the fact that some researchers firmly denied its relevance, saying that this concept is built merely on criticism and lacks innovative ideas. They were convinced that KOTLERS marketing theory and practice, with certain smaller modifications, were still applicable. Few extremist authors would even refer to the followers of postmodern marketing as false prophets, who disgrace the church of marketing. Since this heated debate seemed to be worth further analysis, I systematically began to structure the arguments for and against postmodern marketing. Presuming that marketing is dependent upon the given social, economic and cultural factors, my hypothesis was that the change of era from modernism to postmodernism justifies the denial of the traditional marketing concept. To test my hypothesis, I consulted the literary resources of my previous studies, and read several articles on postmodernism, most of which were published in the European Journal of Marketing. SCHUMPETER says, the stock-exchange is a poor substitute for the Holy Grail (BELL 1992, 213). The statement refers to the emotional emptiness of the modern era: a society based on rationalism, capital and production does not compensate the people for the loss of myths and legends. Postmodernists believe that todays world may bring us the opportunity to revive the hidden magic. Does postmodern marketing show the way to the Holy Grail?
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