New Definition for Marketing
The American Marketing Association revisits the definition of marketing every five years in a disciplined effort to reflect on the state of the marketing field. American Marketing Association’s definition is used in books, by marketing professionals and taught in university lecture halls nationwide.
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.”
Learn more about the definition revision process.
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