What is marketing? You may have the question when you study the field of it. Here, you can see the definition of marketing by famous organization, institution and people. Let’s look at them!
AMA (American Marketing Association)
The association was created by marketers in USA.The association made the definition of marketing including the role marketing plays within society at large and defines marketing as a science, educational process and a philosophy - not just a management system.
The definition is
"the activity, set of institutions, and processes for creating, communicating,delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."
American Marketing Association
The previous definition was
“Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.”
American Marketing Association
The definition includes a wide meaning more than the previous one. It means marketers don't only study marketing fields but they also have to study other fields for our society. AMA changes the definition of marketing every five years, so it will change again.
In 1953, Neil Borden changed the business world by the strategy of “Marketing Mix”. He was just one of many AMA leaders who were not satisfied with actual marketing in USA. These thought leaders asked for answers for the future of business growth and the role of marketing.
Today, the AMA is the best Marketing leader in USA. They provide unparalleled discussion on marketing excellence. Also, they provide more ways for marketers and academics to connect with the people and resources they need to be successful.
CIM (Chartered Institute of Marketing)
Charactered Institute of Marketing is called CIM. It is an institute from United Kingdom and put the new definition of marketing.
They concluded
"the management process responsible for identifying, anticipating and satisfying customer requirements profitably."
Chartered Institute of Marketing
I feel that CIM focuses on customer without society. The definition of CIM is like the previous one of AMA. It means that the marketing information from AMA will be faster than CIM's one.
They have a long history for more than 100 years. CIM has been supporting, representing and developing marketers, teams, leaders and the profession as a whole. CIM’s purpose and the way is set out in a royal charter and every year the Trustees prepare a report and financial statement on CIM’s activities.
Probably, the institution of CIM includes big powers and influence, so I think that they must make many procedures to pass their ideas and study. Thus, there is one difference between CIM and AMA. CIM in UK has a public meaning, while AMA in US has private rights.
Dr. Philip Kotler (The Father of Modern Marketing)
People say that Phillip Kotler is a father of modern marketing. It is said that he is wonderful because he made the marketing itself systematized. From his books, I will introduce the definition of marketing below.
The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
Principles of Marketing (14th Edition) - 2012
A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.
Principles of Marketing: 4th European Edition - 2005
Kotler believes marketing can be created by customers. The interesting thing is that his opinion about marketing changed a little bit by year, but it doesn't change the keyword is value through customers.
Peter Drucker (The Grandfather of Modern Marketing )
Peter Drucker is famous about management, so you might not know he defined the definition of marketing, but he mentioned it.
The purpose of a business is to create a customer. Business has only two functions -- marketing and innovation. All the rest are costs. The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself. The aim of marketing is to make selling unnecessary. The best way to predict the future is to create it. The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.
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