What Is Marketing – New Definition

Robert Kingston at shared a new definition of marketing by the American Marketing Association:

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.

What amuses me is that this is a definition done by marketers for marketers. It adds nothing to the understanding of concept or, as a matter of fact, a reasoning a small business owner should include a Marketing row in his cash flow statement.

I am not a marketing professional, only learning, but for me this definition is like saying the water is wet. I’d rather had someone explain all this in English. My own versions of definitions would look closer to the following statements.