Marketing definition

So what is marketing? What concepts and decisions are covered under the term marketing and are core to marketing and the firm? According to the UK Chartered Institute of Marketing, marketing is a management process responsible for identifying, anticipating, and satisfying consumers requirements profitably.

On the other hand, the American Marketing Association, AMA, defines marketing as the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organisational goals. These definitions emphasise that marketing focuses on planning and executing activities to satisfy customers demands by creating a valued market offering. In addition, it should be understood that marketing activities occur in a dynamic environment.