What is Marketing? Searching For The Ultimate Definition.

The challenge: Define what marketing is in 30 words or less. 

Easy right? It shouldn’t be too difficult to define the field that, among other things, concerns itself with the identity of companies. Well, after reading hundreds of meanings to the term marketing in various publications, articles and textbooks ,it is safe to assume ‘marketing’ is having a bit of an identity crisis. But do not worry; I think I have found the ultimate definition.

First, let’s take a look at the top 5 honourable mentions.

Definitions from respected associations and, arguably, the most widely used definitions to date. 

1) “Marketing is the management process responsible for identifying, anticipating, and satisfying customer requirements profitably.” (Chartered Institute of Marketing)

2) “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.” (American Marketing Association)

Definitions from marketing gurus. 

3) “The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines, measures and quantifies the size of the identified market and the profit potential. It pinpoints which segments the company is capable of serving the best and its designs and promotes the appropriate products and services.” (Philip Kotler)

4) “Marketing is the process of getting people interested in your company’s product or service. This happens through market research, analysis, and understanding your ideal customer’s interests. Marketing pertains to all aspects of a business, including product development, distribution methods, sales, and advertising.” (Caroline Foresay, Hubspot)

5) “Our job is to make a change. Our job is to connect to people, to interact with them in a way that leaves them better than we found them; more able to get where they’d like to go.” (Seth Godin)

Do these definitions work?

There is no denying, each of these definitions makes an admirable effort to encapsulate a wide and complex subject and, although, there are some common aspects to each definition, there are also considerable differences. For example, The CIM highlights marketing as a management process where Seth Godin focuses on the value of connection.
Particularly the AMA and CIM definitions, in recent years, have attracted some criticism for there lack of reflection on modern realities and difficulties facing marketers today. But what are your thoughts?

And the winner is (my favourite and why). 

So we have reached, in my opinion, the number one answer to the question ‘what is marketing?’. I found this definition buried in the 19th volume of the Marketing Review published in 2019. Formulated by Lynn R Godwin, he claims this definition is the “ultimate parsimonious, least wordy, simplistic, most basic, generalisable, utilitarian, the non-obsolete-becoming definition of marketing (or anything remotely marketing-like) in the history of business and the world.” So what is it?

“Meeting something’s needs and wants some time, somehow, somewhere, someway.” (Lynn R Godwin)

Ok, I can see you are disappointed. But let me explain why it works. 

It’s general: It encapsulates consumers, customers and other stakeholders, all the people marketers now need to concern themselves with (if a hermit lifestyle is more your thing, marketing might not be the right career for you). 

It’s timeless: Sometime, somehow, somewhere, someway, all reminiscent of the evolution of communication. Social media, podcasts and video content are the channels of today but what innovations will tomorrow bring? 

It includes needs and wants: Phrased in many ways, for example, requirements, offerings or interests, this is the element that all definitions have in common. Ultimately, its is role of marketing to fulfil the customer wants in some way, whether this is pricing, expectations on customer service, or helping them to achieve a sense of fulfilment.

It’s alliterative: Let’s face it, we are still marketers, if we cannot define marketing as an acronym (like SOSTAC, AIDA, PACE), then alliteration is the next best thing (like the 7p’s). Besides, out of all these definitions, this is the one you are most likely to remember. 

Do you agree or can you do better? 

Which of the options above do you think best describes marketing? Do you think you can step up to the challenge of defining marketing in 30 words or less? If you think you can, please leave a comment or send me a message, I would love to hear from you. 

Other sources to take a look at:

‘What is marketing?’ through the ages. 

If you have a few minutes to spare, this publication lists many definitions and demonstrates how marketing has changed over the last 100+ years: https://www.researchgate.net/publication/303874062_A_Chronology_Of_The_Definition_Of_Marketing

https://blog.hubspot.com/marketing/what-is-marketing

What Is Marketing?