So the American Marketing Association finally updated their definition of marketing to put a stronger emphasis on customer relationships. You can read more about the change on the Peppers and Rogers web site:
The previous AMA definition of marketing, active since 1985, was: "Marketing is the process of planning and executing conception, pricing, promotion and distribution of goods, ideas and services to create exchanges that satisfy individual and organizational goals."
The new definition of marketing, unveiled at the AMA's Summer Educator's Conference in August is: "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."
The article quotes several experts who say that that the definition is a reflection of what's already being done; I disagree. Yes, companies are more customer-centric. Yes, marketing departments are already playing critical roles in building customer relationships. But I think the key phrase here is, "marketing is an organizational function." I don't know many companies that have truly integrated marketing as a mindset throughout the entire organization. This definition sets the marketing executive in a more pivotal role in a company; he/she is no longer simply responsible for a department, but for "delivering value and customer relationships." It's up to marketing to work with other departments to ensure that -- from promise through delivery -- the customer experience is consistent and positive. So while the AMA is a bit late to the party, it offers up a definition that holds a lot of room to grow.
What do you think about the new definition? Does it go too far, or not far enough? What does the future hold for marketing?