What is Marketing?

Marketing is the most undefined word in business precisely because it has so many definitions, and too many business people and academics do not agree on the definition to use. For most people it is about the “back-end” of marketing, or the promotional side, because that is what is visible. And where most of the money is spent.

I just ran across the American Marketing Association’s definition of Marketing: “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.”

The Chartered Institute of Marketing in the UK defines it this way: “Marketing is the management process responsible for identifying, anticipating, and satisfying customer requirements profitably.”

We still like ours better: “Marketing’s responsibility is to align the capabilities of the firm with the ongoing needs of its customers.”

Feedback is appreciated as always.

Mitch

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