Marketing definition
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Marketing Definition: Core Concepts and Evolution
Customer Focus and Value Creation in Marketing
Marketing is widely recognized as a business discipline centered on understanding and meeting customer needs. Most definitions agree that the customer is at the heart of marketing decisions, with the goal of creating, communicating, and delivering value to customers, clients, partners, and society at large 26710. This value creation process involves not only selling products or services but also building long-term relationships and ensuring customer satisfaction 14510.
The Marketing Mix and Strategic Role
A key framework in marketing is the "marketing mix," often described as the 4 Ps: product, price, place, and promotion. This mix guides how organizations plan, price, promote, and distribute offerings to satisfy customer needs efficiently 29. Marketing is not limited to goods; it also applies to services and nonprofit organizations, highlighting its broad relevance 23.
Relationship Marketing and Long-Term Engagement
Recent research emphasizes the importance of long-term customer relationships as a cornerstone of marketing. Rather than focusing solely on transactions, modern marketing definitions stress ongoing engagement, trust, and the management of promises between organizations and their customers 14. This approach is especially relevant in service and industrial marketing, where relationships are key to success 14.
Marketing as a Dynamic, Multi-Faceted Process
Marketing is described as a complex and dynamic process that adapts to changing environments, technological advancements, and global competition 2610. It involves a wide range of activities, from market research and segmentation to targeting, positioning, and the use of digital tools 36. The discipline has evolved to include concepts like relationship marketing, customer relationship management (CRM), social marketing, and green marketing .
Societal and Ethical Dimensions
Modern marketing also considers broader societal and ethical responsibilities. Marketers are increasingly expected to address environmental concerns, ethical practices, and the socioeconomic impact of their activities, reflecting a shift toward a double bottom-line approach that balances profit with social good 26.
Simplified and Universal Definitions
Some scholars propose very concise definitions, such as "getting the right goods and services to the right people at the right place, right time, right price, with the right communication and promotion" 89. Others suggest that marketing is simply the process of exploring, creating, and delivering value to meet the needs of target audiences .
Conclusion
In summary, marketing is a multifaceted discipline focused on creating and delivering value to customers and society through a mix of strategic activities. It is defined by its customer-centric approach, emphasis on long-term relationships, adaptability to change, and growing attention to ethical and societal impacts 12345678+2 MORE.
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