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American Marketing Association Definitions over time AMA (1935) AMA (1985) marketing is the process marketing is the performance of business activities that direct the flow of goods and services from producers to consumers of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives AMA (2004) 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 AMA (2007) 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 organizational function the performance business activities the activity, process of planning and executing conception set of processes set of institutions, and processes for creating creating promotion communicating communicating distribution of delivering delivering pricing direct the flow of to create exchanges goods and services ideas, goods, and services exchanging value offerings that have value managing customer relationships producers consumers organisational objectives benefit the organization individual objectives value to customers customers benefit the stakeholders clients partners society at large. Changes between AMA 2004 and AMA 2007 There are five distinct areas that have changed in the 2007 definition compared to AMA (2004). These are the change of focus, the return of exchange, altered understanding of the outputs of the marketing process, the end of the brief role of customer relationship management, and the clarification of the targets of the marketing activities, processes and institutions. g Changing the focus of marketing g Exchange theory g Customer Relationships g Offerings of Value g Four Target Groups of Marketing Criticisms of AMA (2007) Any change to the status quo will bring the probability of benefit and the possibility of negative consequences. In the case of the newly minted marketing definition, there are five negative consequences which are: g the loss of the opportunity for relationship marketing g the change of purpose of marketing, g instability and the speed of change. g the continued absence of planning as a marketing function g the need for inclusion by implication Praise for the AMA (2007) Whilst there are reasons to criticise the new marketing definition, the changes between AMA (2004) and AMA (2007) have also brought benefits for marketing. Three immediately identifiable areas are the recognition of non-customer recipients of marketing outputs, the revival of exchange theory, and the recognition of co-creation of value through customer-customer exchange g Clients g Complex Exchange g Co creation of symbolic value Extracted from Chapter 16 of Dann and Dann (2007) Competitive Marketing Strategy, Pearson Education www.stephendann.net