Version Definition Interpretations
The Chartered Institute of Marketing (CIM)
The management process of anticipating, identifying and satisfying customer requirements profitably CIM refers to requirements
CIM definition discusses anticipating/identifying needs.
CIM presupposes that marketing is a process with a profit motive, although it does not explicitly state whether or not this is for financial profit, eg could be gain in society, as in the case of charity. The American Marketing Association
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. (Sheth and Sisodia, 2005): CIM/AMA recognises marketing as a management process and an activity, although many other firms organise marketing as a discrete department rather than as a service across departments. CIM/AMA stresses the importance of considering the customer , of determining their requirements or needs. CIM/ASA recognise the need for marketers to undertake marking research and environmental scanning activity to satisfy customers and in the long term to anticipate customers needs. AMA refers to delivering value
AMA discusses creating… offerings that have value for the customer AMA is much clearer, argues that marketing is a process undertaken to benefit clients, partners and society at large. French & AMA: refer to an offer and offering, recognizing that marketing can be applied equally to the marketing of goods, services, ideas and in the not for profit sector. Both recognise the widened concept of the applicability of marketing. French perspective
Marketing is the endeavour of adapting organisations to their competitive markets in order to influence in their favour, the behaviour of their publics, with an offer whose perceived value is durably superior to that of the competition. French definition refers to developing an offer of superior...
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