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01/22/2008

Marketing Association Expands Marketing Definition

The American Marketing Association has redefined the word �marketing,� to reflect its broader role in society. The new definition reads: �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 stated: �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.�

The Association revisits the definition for marketing every five years in a disciplined effort to reflect on the state of the marketing field.


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