Unit 1: Marketing - Concept and process of marketing - Definitions
Alternative definitions: American Marketing Association
What are the definitions of marketing and marketing research?
The following definitions were approved by the American Marketing Association Board of Directors. A new definition of marketing was adopted August, 2004.
Definition of Marketing: Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
Definition of Marketing Research: Marketing research is the function that links the consumer, customer, and public to the marketer through information--information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.
