Defining Marketing Paper
Billy W. Denbow
MKT/421
Gary Solomon
January 29, 2007
Defining Marketing Paper
The American Marketing Association defines marketing as " 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, 2007). According to Randall Chapman, The World Marketing Association also has a definition, different, but equally as accurate and good. The WMA states that "marketing is the core business philosophy which directs the processes of identifying and fulfilling the needs of individuals and organizations through exchanges which create superior value for all parties" (Chapman, 2003).
I particularly like using both of these definitions together because I believe that each of them covers a very important part of what I believe marketing is that the other definition did not point out. The AMA makes mention here of satisfying the goals of an individual or company through marketing; the WMA on the other hand, mentions that marketing seeks to achieve value for both sides, the consumer and the organization that created the marketing. I like this because this definition illustrates very clearly that marketing must fulfill the needs of both sides to a transaction.
I believe marketing can be defined as a combination of these two statements. My personal definition of marketing is as follows. Marketing is the process of identifying and implementing steps to obtain the attention of a specified target market, thus establishing the desire for a good or service with the goal of earning and retaining consumer business at a positive value for buyer and sel ...