Unit 1: Marketing - Concept and process of marketing - Definitions
Alternative definitions: Chartered Institute of Marketing (CIM)
The Chartered Institute of Marketing (CIM) suggests that:
Marketing is the management process for identifying, anticipating and satisfying customers’ needs at a profit.
Can you see how the CIM has incorporated market-led concepts in this definition of marketing? If you work in a non-profit organisation you may be put off by the word profit in their definition. The notion of being market led is also relevant outside the commercial sector.
