What are the definitions of marketing from professional organisations?

 Marketing has been defined by various academics and non-academic sources over the years.


Chartered Institute of Marketing (CIM) (2015, 3) has defined marketing in the following:


 “ The management process responsible for identifying, anticipating and satisfying customer requirements profitably.”


This is a definition form a United Kingdom (UK)'s CIM which breaks down the definition into 3 responsibilities that management are aiming for those who are involved with marketing to fulfill within the organisation as their main roles to:


 Identify,

 Anticipate &

Satisfy.


The customer requirements profitably.


Based on the above definition of marketing profitability of the marketing within the organisation is a key consideration and the marketing needs to be based around the organisations' customer specific requirements. 


American Marketing Association (AMA) (American Marketing Association, 2017) defines marketing as:


"Marketing 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" 


Based on the above definition a key aspect of this definition is the delivering of value to a number of stakeholders:

  • Customers
  • Clients
  • Partners & 
  • Society (or the public)

This definition breaks the definition of marketing into 4 distinct processes of the marketing concept;

  1. Creating,
  2. Communicating, 
  3. Delivering & 
  4. Exchanging.

Offerings to the 4 stakeholders listed with thin this definition where the the first two stakeholders (customers and clients can be interchangeable) although clients are looking for professional services as a requirement  rather than every day goods that are either bought out of necessity and are required or are not needed but are bought out of a want or desire to have in terms of customers.  

There will be another post by tonight with a number of academic definitions and a brief outline by the righter of this blog under of the definitions and references sources.definitions. 

Good night and have a good night and day ahead.

References:


Charted Institute of Marketing (2015) 7 Ps a brief summary of marketing and how it works. Berkshire: Charted Institute of Marketing. Available from: https://www.cim.co.uk/media/4772/7ps.pdf [Accessed 27 December 2020].

American Marketing Association (2020) What is marketing? Chicago: American Marketing Association. Available from:  https://www.ama.org/about-ama/?_ga=2.41457697.2051523141.1609031031-1076073203.1609031031 [Accessed 27 December 2020].


David Mc Donald, BSc (Hons) 

Currently studying an MSc In Marketing

LinkedIn:: https://bit.ly/3nrFh6M


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