Sunday, May 20, 2007

Definition of marketing

I was reading the Diva Marketing blog and saw a post on the AMA's new definition of marketing. Here are the two definitions: AMA's 2004 Definition- "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."
AMA's 2007 Revised Definition- “Marketing is the activity, conducted by organizations and individuals, that operates through a set of institutions and processes for creating, communicating, delivering, and exchanging market offerings that have value for customers, clients, marketers, and society at large.”
The second definition is just a proposal and is not definate. I think that the second definition is better because i dont feel that marketers deliver value to a customer. They try to relate the value of their product to the customer's needs.

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