Definition of Marketing

On February 23, 2010, in 4Ps, Place, Price, Product, Promotion, Strategy, by John

“Marketing” seems to mean different things to different people. Some think of Ron Popeil and late-night infomercials, while others may think of the circulars and coupons they get in their Sunday paper. Many also think of the spam in their inboxes and the junk mail the mailman delivers every day. In reality all these views are correct, but marketing is much, much more.

Marketing involves selling products and services, but that doesn’t mean marketing is limited to sales activities. The American Marketing Association defines marketing as “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.” Sounds impressive, but what does that really mean? This definition is chocked full of information, so let’s break down each component of the definition.

The Marketing Process

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