Key recent academic definition on marketing.

 Marketing has been defined by numerous academics over the years although here is a recent definition from  :


Kotler & Armstrong (2020, 654) define marketing as:


"The process by which companies engage customers, build strong customer relationships, and create customer value in order to capture value from customers in return."


Their definition breaks marketing intro the following processes that marketing is required to fulfill for the companies:


(1) Engage customers

(2) Build strong customer relationships

(3) Create customer value 


To:


  • Capture value from the customers in return.



References


Kotler, P.T. & Armstrong, G. (2020) Principles of marketing. 18th ed. Harlow: Pearson, 654. 


David Mc Donald, BSc (Hons) 

Currently studying an MSc in Marketing 

LinkedIn:: https://www.linkedin.com/in/david-mc-donald-bsc-hons-296326116/ 



 




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