MARKETING DEFINITIONS

To start, here are explanations from the American Marketing Association (AMA), marketing’s professional organization, and Dr. Philip Kotler, the author of business school marketing classics. They’re followed by the other definitions in alphabetical order by author’s last name.

1. According to the American Marketing Association (AMA) Board of Directors, 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. 
2. Dr. Philip Kotler 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. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.” 
3. Palmer’s marketing definition is essentially about marshaling the resources of an organization so that they meet the changing needs of the customer on whom the organization depends. 
4. Dennis Adcock defines marketing as the right product, in the right place, at the right time, at the right price. Dennis Adcock, using McCarthy’s Four Ps, defines marketing in a short but realistic way.