Q1M1 - Definition of Marketing

What is Marketing according to the American Marketing Association (AMA)?

"Marketing is the activity, set of institutions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients and to the society at large."

Other Definitions of Marketing

1. Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others. 2. Marketing is the process by which an organization relates creatively, productively, and profitably to the market place. 3. Marketing is an art of creating and satisfying customers at a profit 4. Marketing is getting the right goods and services to the right people at the right places at the right time at the right price with the right communication and promotion

The father of Modern Marketing

Dr. Philip Kotler

What is Marketing according to the Philippine Marketing Association?

Marketing as a science and profession guided principally by the universal principles of ethics, corporate citizenship, and corporate social responsibility.

According to Kotler, what is the definition of Marketing?

defines marketing as the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines measures and quantifies the size of the identified market and the profit potential.