A New Definition of "Marketing"

The American Marketing Association (AMA) announced today that they broadened their definition of marketing. Since PR falls under marketing and is most often developed in parallel with an organization's marketing plan, I think it is important that all of PR folks are aware the AMA's revision.

Here is a today’s news feed from MediaPost's Marketing Daily.

AMA Broadens Definition Of 'Marketing'
Friday, Jan 18, 2008 5:00 AM ET
--Nina M. Lentini

The AMERICAN MARKETING ASSOCIATION has redefined the word "marketing," to reflect its broader role in society

The new definition reads: "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."

The previous definition stated: "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."

The AMA revisits the definition for marketing every five years in a disciplined effort to reflect on the state of the marketing field.

Comments

[Rahul Bharadwaj]

I want to share a Definition of Marketing which I feel while working as a Marketing Executive for an IT Company:

"Marketing is a process to attack on the Intangible desire of a customer and fullfilling their desire or need by providing a tangible product which will give him a customer bliss."

Shorter definition of Marketing :

"Creating needs"