What is Marketing ? Definition of Marketing

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*   I. Marketing - Definition

*   II. Goal of Marketing

*   III. The Importance of Marketing for the Success of a Business

I. Marketing - definition

Marketing is both an Arrt and a Science.

There are many marketing definitions. The better definitions are focused upon market orientation and the satisfaction of customer needs.


*   Marketing is the social process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.

Kotler and Armstrong (2010).


*   Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.

Kotler and Armstrong (2010).


*   Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably.

The official academic definition from The Chartered Institute of Marketing (CIM). Accessed 2012.

This means the ideas, the brand, how you communicate, the design, print process, measuring effectiveness, market research and the psychology of consumer behaviour all count as part of the bigger picture of ‘marketing’.  

An understanding of what customers need and value, is central to marketing.

Learning your customers' needs and how you can add value through marketing activities paves the way for a successful business in the long term

*   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. (Approved July 2013)

American Marketing Association Board of Directors. Accessed 2012.



*   The enigma of marketing is that it is one of man’s oldest activities and yet it is regarded as the most recent of business disciplines.

Baker (1976)