What is Marketing? Marketing definitions.

What is Marketing? Definitions, Perspectives, and Applications

Introduction

Marketing is one of the most fundamental concepts in business and management. It is central to how organisations identify, anticipate, and satisfy customer needs profitably. Yet, defining marketing is far from straightforward. Over the years, scholars, professional bodies, and practitioners have offered a variety of definitions that reflect changes in business practices, consumer behaviour, and the wider economy.

This lesson explores how the definition of marketing has evolved. It begins with some of the classic explanations, moves on to modern definitions, and considers how these perspectives apply in practice. The lesson also examines how digitalisation, globalisation, sustainability, and artificial intelligence (AI) continue to reshape our understanding of marketing.

By the end, you will not only know what marketing is, but also why the definition matters, and how it affects both strategy and practice.

What is Marketing? — Classic and Modern Definitions Compared
Source Year Concise Definition Emphasis / Keywords Teaching Notes / Implications
American Marketing Association (AMA) 1985 The process of planning and executing the conception, pricing, promotion, and distribution
of ideas, goods, and services to create exchanges that satisfy objectives.		 4Ps, exchange, managerial process Useful for introducing the classic 4Ps toolkit; strong on managerial actions, lighter on relationships or society.
Chartered Institute of Marketing (CIM) 2025 The management process responsible for identifying, anticipating and satisfying customer requirements profitably. Needs, anticipation, profitability Highlights marketing as an organisation-wide process; good bridge to strategy and customer insight.
Kotler & Armstrong 2010 The process by which companies create value for customers and build strong relationships to capture value in return. Value creation, relationships, loyalty Shifts focus from single transactions to lifetime value; supports topics like CRM and retention.
American Marketing Association (AMA) 2013 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.		 Value, stakeholders, society Broadens scope beyond firms and customers; good entry to ethics, sustainability, public value.
Kotler, Kartajaya & Setiawan 2018 The science and art of exploring, creating, and delivering value to satisfy target-market needs at a profit. Science & art, targeting, profitability Balances analytics with creativity; connects to digital, data-driven and experiential marketing.
Contemporary practice (illustrative) 2020s Orchestrating data, technology, and creativity to design customer experiences that create mutual value
for the firm, customers, and society across channels and touchpoints.		 CX, omnichannel, data/AI, sustainability Useful synthesis for modern curricula: integrates CX, AI, privacy, and omni-channel execution.

Classic Definitions of Marketing

Early definitions of marketing focused heavily on the transactional process of moving goods from producer to consumer. This perspective dominated in the early twentieth century when economies were production-driven.

American Marketing Association (AMA, 1960s–2000s)

The AMA has revised its definition several times. A widely cited version defined marketing as:

“The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organisational objectives.” (AMA, 1985)

This view highlights the “4Ps” (Product, Price, Place, Promotion) popularised by Jerome McCarthy in the 1960s. It reflects the managerial school of marketing, emphasising decision-making tools for managers.

Kotler and Armstrong (2010)

Kotler, often described as the “father of modern marketing,” framed marketing as:

“The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.” (Kotler & Armstrong, 2010)

Here, the focus moves from transactions to relationships and value creation. Marketing is seen as mutually beneficial, emphasising long-term customer loyalty.

Chartered Institute of Marketing (CIM, 2025)

The UK’s professional marketing body defines marketing as:

“The management process responsible for identifying, anticipating and satisfying customer requirements profitably.” (CIM, 2025)

This concise statement highlights marketing as a management process. It recognises that marketing is about anticipating needs, not merely responding to them.

Modern Definitions of Marketing

As business environments changed, so too did the understanding of marketing. From the 2000s onwards, definitions increasingly reflected societal, technological, and relational perspectives.

AMA (2007, revised 2013)

The AMA updated its definition:

“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.” (AMA, 2013)

Key differences include:

  • Marketing is broader than business—it includes non-profits, governments, and individuals.

  • The idea of value is central.

  • Marketing must benefit society at large, not just the company or customer.

Kotler et al. (2018)

Kotler and colleagues refined their perspective in the era of digitalisation:

“Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.” (Kotler, Kartajaya & Setiawan, 2018)

This definition balances science (data, analytics, segmentation) with art (creativity, innovation). It highlights the role of marketing in targeting specific markets and generating profit while still prioritising customer needs.

Themes Emerging from the Definitions

A comparison of classic and modern definitions reveals some important themes:

  1. From Transactions to Relationships
    Early marketing was about exchange; modern marketing focuses on long-term relationships and value.

  2. From Products to Value
    The emphasis has shifted from products and services to delivering value propositions.

  3. From Business to Society
    Marketing is no longer just a business activity—it also considers societal impacts such as sustainability and ethics.

  4. From Traditional to Digital
    Digital platforms, data analytics, and AI are now integral to how marketing is defined and practised.

Applications of Marketing in Practice

1. Customer Value and Experience

Modern firms focus on customer experience at every touchpoint—online and offline. For example, Amazon and Apple compete not just on products, but on seamless experiences.

2. Segmentation, Targeting, and Positioning (STP)

The STP model remains vital: defining groups of customers, selecting target audiences, and positioning offerings clearly in the market.

3. The Marketing Mix in the Digital Age

The 4Ps remain important but are often extended to the 7Ps (adding People, Process, Physical Evidence). For digital marketing, “Place” often means platforms such as Instagram or TikTok rather than physical locations.

4. Societal and Sustainable Marketing

Organisations now incorporate corporate social responsibility (CSR) and sustainability into their marketing strategies. For example, Unilever’s Sustainable Living brands emphasise environmental and social benefits alongside product performance.

5. Technology and AI in Marketing

Artificial intelligence now drives personalisation, predictive analytics, and chatbots. Netflix uses algorithms to recommend content, and retailers employ AI to forecast demand. These practices extend the definition of marketing into the realm of data science.

Critiques of Marketing Definitions

While definitions help structure understanding, critics argue that:

  • Some definitions are too managerial, ignoring the role of consumers in shaping markets.

  • Others are too broad, making marketing seem like “everything an organisation does.”

  • Societal definitions risk being aspirational, since many companies still prioritise profits over societal welfare.

Nevertheless, definitions provide a foundation for teaching, learning, and practising marketing effectively.

Conclusion

So, what is marketing? It is best understood not as a single definition but as a dynamic, evolving discipline. From early transactional views, through the managerial focus on the 4Ps, to today’s emphasis on value, relationships, and societal impact, marketing continues to adapt to the challenges of a changing world.

For students and practitioners, the key takeaway is that marketing is about understanding people and creating value—while balancing the needs of businesses, customers, and society. The exact definition may change, but this central principle remains constant.

Bibliography (Harvard Style)

  • American Marketing Association (1985). Definition of Marketing. Chicago: AMA.

  • American Marketing Association (2013). Definition of Marketing. [online] Available at: https://www.ama.org [Accessed 1 Sept. 2025].

  • Chartered Institute of Marketing (2012). Marketing and the 21st Century. London: CIM.

  • Kotler, P. and Armstrong, G. (2010). Principles of Marketing. 13th ed. Upper Saddle River, NJ: Pearson.

  • Kotler, P., Kartajaya, H. and Setiawan, I. (2018). Marketing 4.0: Moving from Traditional to Digital. Hoboken, NJ: Wiley.

  • McCarthy, E.J. (1964). Basic Marketing: A Managerial Approach. Homewood, IL: Richard D. Irwin.

  • Unilever (2023). Sustainable Living Brands. [online] Available at: https://www.unilever.com [Accessed 1 Sept. 2025].