Marketing

Marketing is defined by the AMA as "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." [1]
It can also be defined for business to consumer marketing as "the process by which companies create value for customers and build strong customer relationships, in orderto capture value from customers in return". For business to business marketing, it can be defined as creating value, solutions, and relationships either short term or long term with a company orbrand.
This replaces the previous definition, which still appears in the AMA's dictionary: "an organizational function and a set of processes for creating, communicating, and delivering value to customersand for managing customer relationships in ways that benefit the organization and its stakeholders."[2] It generates the strategy that underlies sales techniques, business communication, and businessdevelopments.[3] It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves.[3]
Marketing is used to identify thecustomer, satisfy the customer, and keep the customer. With the customer as the focus of its activities, marketing management is one of the major components of business management. Marketing evolvedto meet the stasis in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries.[citation needed] The adoption of marketing strategies requires businesses to shifttheir focus from production to the perceived needs and wants of their customers as the means of staying profitable.[citation needed]
The term marketing concept holds that achieving organizationalgoals depends on knowing the needs and wants of target markets and delivering the desired satisfactions.[4] It proposes that in order to satisfy its organizational objectives, an organization should...