AMA Broadens Definition of Marketing
Myles Bristowe, President, AMA BostonThe International office of 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.”
Wikipedia defines the term this way: “Marketing is a societal process that is needed to discern consumers’ wants; focusing on a product/service to those wants, and to mould the consumers towards the products/services.”
Some very interesting differences between the definitions. The AMA revisits the definition for marketing every five years in a disciplined effort to reflect on the state of the marketing field. How would you define marketing?
January 21st, 2008 at 2:11 pm
that definition of marketing on wikipedia definitely needs to be updated. My preference is for the chartered institute of marketing’s definition “finding the needs and wants of customers, and satisfying those needs and wants, efficiently and profitably.” You have to listen to customers in order to make a product or service they want. Molding a consumer sounds more like propaganda.
January 21st, 2008 at 2:24 pm
I agree John. Rather than trying to convince customers that they want your products, it would be best to listen to the customers and just give them what they’re asking you to provide.
January 22nd, 2008 at 3:54 am
I think this definition on wikipedia needs to be revised.
January 23rd, 2008 at 5:35 pm
Society at large, huh? I like to stay away from committee-written mission statements, but I do think the language about managing customer relationships should have somehow stayed in.
As for “society at large”, it obviously takes into account the trend toward corporate social responsibility. Probably a good addition.
Wow, who wrote the Wiki description? I recommend molding the products/services toward the consumers. But then again there’s a financial reality to consider. In the meantime I’ll keep molding expectations and managing relationships in order to benefit society at large!
January 28th, 2008 at 3:01 pm
I’m torn on this one. On one hand, it is important for an association such as AMA to provide a clear definition of the industry they serve. If anyone is looking for such a definition, they should be able to assume they can find it here. So bravo to AMA for taking responsibility for updating the definition.
On the other hand, so what? Is this newsworthy? My guess is that no one will care until they need it. So I say, why make any noise about this. Update it, post it, leave a little blurb online that it was updated, and then leave it alone.