10 Marketing definitions from AMA, Philip Kotler and Others
Marketing has been around since ages. Back then, we’d leverage word of mouth tactics to reach out to people who would likely buy from us. Word of mouth still holds a lot of value for businesses to market their products and /or services.
However, marketing has evolved tremendously, and different marketers have different things to say about marketing when it comes to their markets, context, and customers. Herein this blog post, we bring to you marketing definitions from different marketers from across industries, including the American Marketing Association (AMA) and Dr. Philip Kotler.
1. According to the American Marketing Association (AMA) Board of Directors, 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.
2. Dr. 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. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services.”
3. Marketing is how you tell your story to attract customers, partners, investors, employees and anyone else your company interacts with. It’s the script that helps users decide if they’ll welcome you into their lives as a staple, nice-to-have or necessary annoyance. It’s the way that everyone interacts with your brand. It’s impression, first, last and everything in between. Jeff Cutler - Executive Vice President and General Manager, Vitals.com
4. Marketing is anything you create or share that tells your story. Ann Handley – Chief Content Officer, MarketingProfs
5. Marketing is identifying the pain points of your customers, developing content and processes to best solve those pain points – which ultimately make it easier for your customers to buy or stay customers. Joe Pulizzi - Founder, Content Marketing Institute
6. Marketing is understanding your buyers really, really well. Then creating valuable products, services, and information especially for them to help solve their problems. David Meerman Scott – Bestselling author of Real-Time Marketing and PR
7. Marketing is influencing behavior to get more people to buy more stuff, more often, for more money. Mark W. Schaefer – Executive Director of Schaefer Marketing Solutions. Author of The Tao of Twitter
8. Marketing is everything a company does, from how they answer the phone, how quickly and effectively they respond to email, to how they handle accounts payable, to how they treat their employees and customers. Done right, marketing integrates a great product or service with PR, sales, advertising, new media, personal contact. In other words, marketing is not a discipline or an activity – it is everything a company is – at least if the company wants to be successful. B.L. Ochman – President, What’s Next
9. Marketing is the art and science of persuading a potential buyer of a product/ service to purchase from a company that’s responsible for creating a compelling message and communicating that message through targeted channels with enough reach and frequency to guide that potential buyer through the purchase cycle of “attention, interest, desire, action.” Paul Mosenson, President, NuSpark Marketing
10. Marketing has to examine why you’re in the game and ask the tough questions. Next, there has to be a plan—and it must be tied to specific sales expectations –clear conditions of satisfaction. Passion is not a substitute for planning. Remember, buzz is NOT sales. Tension is good. Good healthy debate causes tension and moves your group forward. Take risks and don’t be afraid to make mistakes. No one ever died because of a marketing campaign. If you want to grow you’ve got to get out there. Get your business into a new stratosphere. Jeffrey Hayzlett, Author of The Mirror Test