DEFINITIONS OF MARKETING BY DIFFERENT PEOPLE

Marketing means different things to different people. That is why, we are going to be enumerating various definitions of marketing in this post

In 2012, American marketing guru Philip Kotler defined marketing as "the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.

According to Mark Burgess, "Marketing is the process by which a firm profitably translates customer needs into revenue"

In 1985, the American Marketing Association gave what was believed to be a comprehensive definition of marketing. According to them, "Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals"

To Cundiff and Still, "Marketing is the term used to describe collectively those business functions most directly concerned with the demand stimulating and demand-fulfilling activities of the business enterprise".

In 2004, American Marketing Association gave a new definition of Marketing  According to them, "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".

According to Tousley, Clark and Clark, “Marketing consists of those efforts which effect transfers in the ownership of goods and services and which provide for physical distribution.”

Paul Mazur gave a succinct definition of marketing when he defined it as "the delivery of a standard of living to society".

To quote Philip Kotler and Kevin Lane, "Marketing management is the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer values of management."

In Harry L. Hansen's view, "Marketing is the process of discovering and translating consumer needs and wants into product and service specifications, creating demand for these products and services, and then in turn expanding this demand.

"Marketing is the primary management function which organizes and directs aggregate business activities involved in converting customer purchase power into demand for a specific product or service and in moving the product or service to the final consumer or user so as to achieve the company set or other objectives",  writes Leslie Rodger.

In the words of Kotler and Armstrong, "Marketing is a societal and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others".

The Chartered Instutute of Marketing (CIM) has defined marketing as "the management process that identifies, anticipates and satisfies customer requirements profitably" 

Marketing, says Converse, Hugey and Mitchell, " includes all activities involved in the creation of place, time and possession utilities. Place utility is created when goods and services are available at the places they are needed; time utility when they are needed; and possession utility, when, they are transferred to those who need them"

Marketing, according to Duddy and Reizan, "is the economic process by which goods and services are exchanged and their values determined in terms of money prices."

To Buskirk Richard, "Marketing is an integrated system of action that creates value in goods through the creation of from place, time, and ownership utilities.

"Marketing consists of those activities which effect transfers in ownership of goods and care for their physical distribution", says F.E Clark.

According to Edward and David, "Marketing is the economic process using which goods and services are exchanged and their values determined in terms of money price".

Adcock et al defined marketing from the perspective of the marketing mix. According to them, marketing is "the right product, in the right place, at the right time, and at the right price".

Pyle simplistically defined Marketing as " comprises both buying and selling activities"

To quote Prof. R.S. Dauar, "Marketing Management is the process of ascertaining consumer needs, converting them into products or services and then moving the products or services to the final consumer or user to satisfy such needs and wants to specific customer segment or segment with emphasis and profitability ensuring the optimum use of the services available to the organisation"

Prof. Malcolm McNair gave a similar definition as Paul Mazur. According to him, "Marketing is the creation and delivery of standard of living to the society.

According to the Latest definition of Marketing given by the American Marketing Association in 2013, "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".

William Stanton has this to say of Marketing: "Marketing is a total system of business activities designed to plan, price, promote & distribute want satisfying products to target markets in order to achieve organizational objectives".

"Marketing is essentially about marshalling the resources of an organization so that they meet the changing needs of the customer on whom the organization depends", says Palmer.

In 1973, Cundiff defined the term marketing as " the managerial process by which products are matched with markets and through which transfer of ownership is effected"

Seven years after Cudiff definitions, Philip Kotler wrote in 1980 that "Marketing is the human activity at satisfying needs and wants through the exchange process".

Eight years later or 1988, Philip Kotler gave another definition of marketing, "Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others."

READ ALSO: THE FOUR MARKETING MIX

Overall, We can simply define marketing as a social and managerial process aimed at satisfying customers' needs and organizational needs profitably.

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