Marketing Defined
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Marketing Defined 1
“Marketing Defined”
Ulanda Walton
Prepared for Professor Jerome Christia
Marketing BUSN319
November 4, 2007
Marketing Defined 2
Marketing Defined
Over the years, the term “marketing” has been defined, described and redefined in a variety of different ways. Mistaken by many as product advertisement or selling, marketing in itself is bigger than either of these components in successfully capturing and retaining consumer business. Marketing involves and is affected by all members of the primary organization, its stakeholders, suppliers, outside organizations and consumers alike. It is also influenced by social, economic, technological, competitive and regulatory environmental forces which play an important role in developing the organizations marketing plan.
So, what exactly is marketing? “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals”
Marketing Defined 3
assists in creating value and vision for an organization, and helps to manage lifetime customer relationships in ways that will be beneficial to all parties involved. Keeping in mind that this is only one well-crafted definition of the word, other marketing associations throughout the world have also given insight to the term. For example, the World Marketing Association (WMA) states “Marketing is the core business philosophy which directs the processes of identifying and fulfilling the needs of individuals and organizations through exchanges which create superior value for all parties” (
(Contemporary Marketing Wired (1998) Boone and Kurtz. Dryden Press;
In addition to the various associations mentioned above, other individuals have contributed to the definition of