What is marketing? A question that has been asked, pondered upon and written about by management thinkers down the decades. A question that is the bane of existence for young BBA (Bachelor Business Administration) or MBA (Master Business Administration) students. Despite all the thinking and writing, there is still no clear or even decent answer to this deceptively simple question. While this would be considered a weakness in most areas, this lack of clarity is actually one of the great strengths of marketing. The field is not constricted by a particular dogma or "right" way of doing things. It is fluid, flexible and adaptable.
Textbooks are rife with definitions for marketing with different people coming with their particular interpretations. For example:
Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably -- The Chartered Institute of Marketing
The right product in the right place at the right time and at the right price -- Adcock et al
Marketing is a social and managerial process by which individuals and groups obtain what they want and need through creating, offering and exchanging products of value with others -- Kotler
Similarly if marketing practitioners were to be asked, each would come up with a particular definition highlighting a particular emphasis. Thus marketing is like an ocean with many different fish. Each person can highlight a particular area and work on it.
