What does marketing mean to you?
- Is it just advertising and promotion?
- Is it just marketing research?
- Is it the 4 Ps?
- Is it something else?
Marketing means different things to different people based on their experiences. Even professional associations don't agree on the same definition:
- American Marketing Association (2007):
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.
- Chartered Marketing Institute (United Kingdom):
Management processes of anticipating, identifying, and satisfying customer requirements profitably.
These definitions tell us that marketing is a process that involves a variety of activities focused on customers and profitable execution of those activities. To that end, students leave our programs understanding channel management, marketing communications (promotion), marketing research, pricing, product/service management, and selling.