What is the definition of marketing?

The definition of marketing as a process to create exchanges that satisfy goals captures the essence of what marketing encompasses. This definition highlights the fundamental purpose of marketing, which is to facilitate transactions between buyers and sellers. Marketing is not just about selling products; it involves understanding the needs and wants of consumers and organizing efforts to meet those requirements effectively.

By focusing on the creation of exchanges, the definition acknowledges that marketing goes beyond mere promotional activities. It encapsulates the broader activities involved, such as market research, product development, and customer relationship management, all aimed at satisfying the objectives of both the business and its customers. In doing so, it emphasizes the importance of meeting the goals of all parties involved in the exchange process, thereby fostering long-term relationships and mutual satisfaction. This understanding is critical in shaping effective marketing strategies that benefit consumers and businesses alike.