Defining Marketing Wednesday, September 23, 2009

Social Definition:

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. (One marketer said that marketing’s role is to deliver a high standard of living)

Managerial Definition:

Often described as the art of selling.

Marketing is not just selling. Selling is only the tip of the iceberg!

Peter Drucker: The aim of marketing is to make selling superfluous. The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself.

American Management Association: Marketing (management) is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services to create exchanges that satisfy individual and organisational goals.

Kotler: We see marketing management as the art and science of choosing target markets and getting, keeping and growing customers through creating, delivering and communicating superior customer value.


Quote : Marketing Management by Philip Kotler 10th Edition