Sign In

1.1 : Defining Marketing

The American Marketing Association (AMA) 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."

The renowned marketing scholar 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."

Management consultant and educator Peter Drucker views marketing as "the whole business seen from the customer's point of view."

Regis McKenna, a Silicon Valley marketing expert, defines marketing as "everything you do after you have a product."

Collectively, these definitions emphasize that marketing is not limited to selling products or services. It is a strategic process that involves understanding customer needs, creating value, communicating effectively, and delivering solutions that satisfy consumers and businesses.

In essence, marketing is a vital business function that bridges the gap between a company's products or services and its customers. It is both an art and a science, requiring creativity, strategic thinking, and analytical skills. Businesses can effectively leverage marketing to enhance their visibility, build strong customer relationships, and drive growth and profitability.

Tags
MarketingCustomer NeedsValue CreationCommunicationCustomer SatisfactionBusiness FunctionArt And ScienceStrategic ProcessVisibilityCustomer RelationshipsGrowthProfitability

From Chapter 1:

article

Now Playing

1.1 : Defining Marketing

Marketing Fundamentals

3.3K Views

article

1.2 : Evolution of Marketing Concept - The Industrial Perspective

Marketing Fundamentals

1.1K Views

article

1.3 : Evolution of Marketing Concept - Consumer Perspective

Marketing Fundamentals

626 Views

article

1.4 : Value Creation in Marketing

Marketing Fundamentals

502 Views

article

1.5 : The Marketing Toolkit - 4Ps to 4Es

Marketing Fundamentals

744 Views

article

1.6 : Significance of Marketing

Marketing Fundamentals

634 Views

article

1.7 : Changing Marketing Landscape

Marketing Fundamentals

417 Views

article

1.8 : Nonprofit Marketing

Marketing Fundamentals

189 Views

article

1.9 : Marketing Myopia

Marketing Fundamentals

204 Views

article

1.10 : Defining Marketing Strategy

Marketing Fundamentals

277 Views

article

1.11 : Marketing Plan

Marketing Fundamentals

247 Views

article

1.12 : Marketing Plan Document

Marketing Fundamentals

189 Views

JoVE Logo

Privacy

Terms of Use

Policies

Research

Education

ABOUT JoVE

Copyright © 2025 MyJoVE Corporation. All rights reserved