The American Marketing Association Releases

New Definition for Marketing

Chicago IL Jan 14,2008

The American Marketing Association today unveiled the nee definition of Marketing , which will be used
as the official definition in books by Marketing professionals and taught in university lecture halls
nationwide.

The new definition includes the role marketing plays within society at large, and defines marketing as a
science, educational process and a philosophy not just management system. It also expands the
previous scope of the term to incorporate the concept that one can market something to “do good”.

History of the definition of Marketing.

As an early as 1935 , the National Association of Marketing Teachers, a predecessor of the American
Marketing Association conceived the original definition for marketing. The American Marketing
Association revisits the definition every five years. The next review of will take place in 2012.

1935-as adopted by the National Association of Marketing Teachers, an American Marketing Association
predecessor organization:

“Marketing is the performance of business activities that direct the flow of goods and services from
producers to consumers.

1985- Marketing is the process of planning and executing the conception, pricing, promotion, and
distribution of ideas, goods and services to create exchanges that satisfy individual and organizational
objectives.

2004- Marketing is an organizational function and a set of processes for creating, communicating and
delivering value to customers and for managing customer relationships in way that benefit the
organization and its stakeholders.

2007-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.