Systematic Marketing has compiled a list of leading professionals and academics who answered the question “What is marketing?” Some choice replies were:
“Marketing is the process of making selling unnecessary.”
–Jennifer Aaker, Professor at Stanford University
“Marketing is the art and science of creating mutually satisfying exchanges.”
–Theresa Flaherty, Professor at James Madison University
“Marketing is magnetic induction that leads to seduction.”
–Norman Hajjar, Chief Marketing Officer at Guitar Center
More quotes on “What is marketing?” at Systematic Marketing
Larry Steven Londre 11:00 am on October 26, 2009 Permalink
Here’s more than you expected. Along with Londre Marketing Consultants, LLC, I teach Marketing and Advertising at USC, Pepperdine and CSUN.
Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. (Kotler & Armstrong, 2010)
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organizational goals. (Kotler, Keller, ‘05)
Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others. (Kotler)
At LMC I like this definition a lot. Marketing is getting the right product or service to the right people (target market), at the right time, at the right place, at the right price with the right communications and promotion.
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. The previous 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. (In 2008, the American Marketing Association unveiled their new, revised definition of marketing, used as the official definition in books, by marketing professionals and taught in universities.) The American Marketing Association revisits the definition for marketing every five years in a disciplined effort to reflect on the state of the marketing field. This process, as laid out in the Association’s bylaws, is guided by a committee whose members represent a cross-section of the marketing industry. The committee formed in late 2006, under the leadership of Donald R. Lehmann, the George E. Warren Professor of Business at Columbia Business School in New York.
The Marketing Concept is a philosophy. It makes the customer, and the satisfaction of his or her needs, the focal point of all business activities. It is driven by senior managers, passionate about delighting their customers. Marketing is not only much broader than selling; it is not a specialized activity at all. It encompasses the entire business. It is the whole business seen from the point of view of the final result, that is, from the customer’s point of view. Concern and responsibility for marketing must therefore permeate all areas of the enterprise. (Peter F. Drucker)
Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy the perceived needs, wants and objectives of individuals and organizations. (Arens, Weigold, Arens: 12th edition, 2009)
Marketing is both a set of activities performed by organizations and a social process. Micro-marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing a flow of need satisfying goods and services from producer to customer or client. (Perreault and McCarthy ’05)
The purpose of Marketing is to sell more stuff to more people more often for more money in order to make more profit. (Sergio Zyman)
Hope you found that interesting and stimulating.
Larry Steven Londre
LONDRE ►►
MARKETING CONSULTANTS, LLC
Marketing | Strategy | Expertise | Answers
Londremarketing.com
Senior Lecturer at USC, CSUN, and Pepperdine Universities