Industrial Revolution and the Rise of Modern Capitalism
In the 19th century, new technologies were applied to new factories. Because of this, companies needed new strategies. Three important institutions in the United States helped companies compete in:
- The mercantile, commodity, securities, press and very important telegraph and financial institution transactions, which drove the revolution of distribution.
- Increasing profit margins, because costs were reduced.
Distribution Changes After 1870
Before 1870, the industry sold through a wholesaler and retailer to the final client. In 1870, the industry, competing with other companies, distinguished its marketing of products. The client listing showed what the retailer and the wholesaler were. In the 1920s, wholesalers disappeared, and companies sold directly...