Marketing: Defined
Arrange chronologically the following official American Marketing Association (AMA) definitions of marketing (the oldest definition will be number 1, the newest - number 4):
- Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.
- 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.
- Marketing is the performance of business activities that direct the flow of goods and services from producer to consumer or user.
- 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.