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I think that's perfect - it's about time that marketing was recognised as an activity not confined to just organisations.

Particularly in the last five years, it's obvious that individuals are marketing themselves and their websites to exchange value, as many organisations do, now.

It also highlights the importance of everyone understanding marketing on at least a fundamental level.

I appreciate this new definition. It is more encompassing of the tasks, strategies and purpose of what we do and for whom we do it.

I have no particular issue with the new definition of marketing. I wonder how often the Chemistry Association has to change the definition of chemistry though, or the other AMA has to redefine medicine. Most of the definitions are defined by too much verbiage -- the result of committeeification. The current definition would best be ended at "delivering offerings to others." Not all products and services add value -- that's why so many fail or never get off the ground, and when we try to define others, we inevitably leave some group out of the mix. There's also the issue of whether we're talking about marketing as a noun or a verb. As a verb, I kind of like: Marketing is the act of creating and selling goods, services and ideas to others. When get into a trap when we try to define marketing separate from selling because we don't want to be linked professionally to the guy that hawks used cars.

Hi Stern:
Thank you for your comment.

While I cannot speak to the Chemistry Association or other AMA, the American Marketing Association chooses to review the definition of marketing because our industry is an ever evolving field and our roles as marketers change everyday. Therefore, we expect the definition to evolve as well.

Best,
Mary

I like the new definition (not just for the fact I've been writing about it extensively)

I have a request for the committee to release a clarification on what they interpret the sub-components to mean - particularly, since "clients" was defined in the lead up to the 2007 vote on the definition, that definition should be public again now, along with the intended meanings for "partners" and any of the other elements where the committee had a specific interpretation in mind. It might stave off some of the "eye of the beholder" interpretations to see what was intended by the designers.

This definition is new for me!

I think, it´s perfect too!

Att,

My only comment is that I believe that the marketing function is less responsible for exchanging offerings and is more tasked with facilitating the exchange of offerings. (Unless marketing is going to be conducting the actual transaction or "sale.")

Dr. Dann:

Thank you for your comments. I've enjoyed reading your blog.

I'm happy to clarify the sub components:

Customers recognizes the importance of a for profit organization's customers perceiving that market offerings have value.

Clients recognizes the importance of nonprofit organizations' clients perceiving the that the market offerings have value.

Partners recognizes the importance of partners perceiving the value of relationships.

Society at Large recognizes that marketing creates offerings that benefit society.

Mary

Here's what may be an older Philip Kotler definition: “Authentic marketing is not the art of selling what you make but knowing what to make. It is the art of identifying and understanding customer needs and creating solutions that deliver satisfaction to the customers, profits to the producers and benefits for the stakeholders."

There has been much discussion about accountability and measurability in marketing. Where is the profitability/accountability/measurability in this new equation? Even non-profits and individuals have some motive for engaging in "marketing" and should be measured on their actions.

To elaborate on the creative side a bit: creative marketing requires passion and strength! Whether it is an individual, a business or an organization, strategic marketing ensures brand recognition and delivers a message that resonates with the target audience. Marketing is a creative problem solving process from creation to execution.

Thanks everyone for the continued dialog.

Mary

This new definition embraces all of the relevant elements of marketing. It is fluid and much easier to comprehend.

...kudos!

Engage,

Coretta

I see the same thing happen when groups try to come up with a mission and vision statement; they over analyze it to exhaustion and then come up with something that misses the mark or has a paragraph when a sentence will do. This is no different. What is Marketing? Marketing is the practices, techniques and tools used in the process of promoting a Brand, a Company, a Product or Service.

This could be elaborated on, but at the end of the day our job is to get people to think about our brand, our company, our product or our service, using a wide variety of tools and techniques and channels.

Just my two cents.
You can read more at my blog on http://rsaling.wordpress.com

Kotler's plain-spoken definition speaks more directly to the essence of marketing...identifying market opportunities, understanding customer and consumer needs, creating solutions - creating value, capturing value.

I tend to agree with Travis. I felt that "exchanging offerings" may miss the mark. Everything else lines up with my understanding and experience.

I have a contrarian view. To me, the new definition is turbid and abstruse -- only slightly more than the old one --but I appreciate the challenge. It should have been written by a team of copywriters, not of a committee of academics.

Since activity is part of process and customers,etc are all members of society, can we say:"Marketing is the set of institutional processes for creating, communicating, delivering, and exchanging offerings that have measurable value for any or all members of society at large." Prof. Saroj Datta, IIT KGP