Marketing is the process of exposing target customers to a product through appropriate tactics and channels, gauging their reaction and feedback, and ultimately facilitating their path to purchase.
There
are a lot of marketing definitions available but the right ones are focused
upon the key to marketing success i.e. customers. Following are some of the
marketing definitions available.
The
Chartered Institute of Marketing (CIM) says:
“Marketing is the management
process responsible for identifying , anticipating and satisfying customer
requirements profitability.”
Philip
Kotler defines marketing as:
“Marketing is the social process
by which individuals and groups obtain what they need and want through creating
and exchanging products and value with others.”
Palmer’s
marketing definition is as:
“Marketing is essentially about
marshalling the resources of an organization so that they meet the changing
needs of the customer on whom the organization depends.”
Lastly,
we can say that 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.