Definition of Marketing

The first definition is the Kotler's definition 1997: "Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging product and value with others"

The process is the planning and research to make product. It meets what individuals and groups demand by exchange product and value with others. The demand is wants for specific products that they are ability and willing to buy it. Basic on two sides have benefit. When the benefit and value are exchange, relationship between two sides is also constituted. The product is made to meet the needs and wants of individuals and groups. Although the needswill be made, how many people actually want it and they are willing to buy them. Therefore, if individuals are not willing to buy products, the value will not exchange with two sides. The weakness of this definition does not have identifying and anticipating about the needs and wants. Furthermore, this definition is a narrow scope of marketing. It just meets the needs and wants of the individuals and groups with limited satisfaction as 'if you need, I'll give you'. Although this definition is also a good example for marketing, it has not contained more information about marketing yet. Therefore,the second one will be morecovering than the first one.

The second one is that of theChartered Institute of Marketing: "Marketing is the management process responsible foridentifying, anticipatingand satisfying customer requirements efficiently and profitably"

Because of having identifying the needs and wants of the customers for its product, and then trying to fulfill. It enhances and adds the customer lifestyle. But also satisfying them in short-term, so targets and goals market will be foreseen and excelled; overlooked and met what the customers want in the future. The purpose of the fulfillment is to satisfy customer demand efficiently as well as bring back profitably for the company. There is content between customer and company. If the company wants to ensure successfully, marketing need appropriate skills. Having more management responsibility without letting the young members have freedom to interfere. Thereto, the definition exists in not-for-profit organization that purpose is not profit but efficiency such as schools, colleges and libraries. Although this definition can cover the first one, it also has some limitations. Hence, let's consider the definition marketing of American.