New AMA Marketing Definition Reflects Individual Control

Hi, this is Bill Ward, Collegiate Relations Chair for the RAMA Board. I was pleased to see that the AMA announced an updated marketing definition. The AMA reviews the definition every few years and makes changes if necessary to reflect the dynamic and rapidly changing nature of marketing. I believe the new version more accurately reflects the interaction and control of the marketing process at the individual level (not just organizational) with the growing influence of online social media and consumer created content on society at large.

The new definition and the previous version are announced in Marketing Daily so you can judge for yourself.

The new definition reads: "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."

The previous definition stated: "Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders."