The Definition of Marketing by the American Marketing Association

The American Marketing Association (AMA) is a professional association for marketers in the United States. It is widely recognized as a leading authority on marketing and plays a crucial role in shaping the field. The AMA has provided a comprehensive definition of marketing that encapsulates its essence and functions. Let's explore the definition of marketing by the American Marketing Association.

The AMA's Definition of Marketing

According to the American Marketing Association, 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. This definition emphasizes the multi-faceted nature of marketing and its impact on various stakeholders.

Firstly, marketing involves activities such as market research, product development, pricing, promotion, and distribution. These activities are performed by organizations and individuals to bring their products or services to the market.

Secondly, marketing is a set of institutions that facilitate the exchange of products or services. These institutions include manufacturers, retailers, wholesalers, and various intermediaries who help in the distribution and promotion of offerings.

Thirdly, marketing encompasses processes that enable the creation, communication, delivery, and exchange of value. It involves understanding customer needs, designing products that fulfill those needs, promoting and communicating the value of offerings, and delivering them to customers through appropriate channels.

The AMA's definition also highlights the importance of value. Marketing is not just about creating and selling products; it is about creating offerings that provide value to customers, clients, partners, and society as a whole. Value can be in the form of benefits, satisfaction, convenience, or any other attribute that customers find desirable.

Implications of the Definition

The American Marketing Association's definition of marketing has several implications for businesses and marketers. Firstly, it emphasizes the customer-centric approach to marketing. Organizations need to understand and meet customer needs to create value and build long-term relationships.

Secondly, the definition acknowledges the broader societal impact of marketing. It suggests that marketing should not only benefit customers and organizations but also contribute to the overall well-being of society.

Lastly, the definition recognizes the dynamic nature of marketing. It encompasses a wide range of activities, institutions, and processes that continually evolve in response to changes in technology, consumer behavior, and market dynamics.

Conclusion

In conclusion, the American Marketing Association's definition of marketing provides a comprehensive understanding of this field. It highlights the multifaceted nature of marketing and its impact on customers, organizations, partners, and society. By following this definition, businesses can better align their marketing strategies with customer needs and create offerings that deliver value. As marketing continues to evolve, the AMA's definition will serve as a guiding principle for marketers around the world.

Thank you for reading this article and we hope it has provided you with a clear understanding of the definition of marketing by the American Marketing Association. By applying this definition to your marketing efforts, you can effectively create and deliver value to your target audience.