Marketing is now about relations

You think that marketing is about pricing, promotion and distribution? That’s sooo 1985. The American Marketing Association has updated its defintion of marketing, which it has had since 1985. The new one is all about value and customer relations.

Old: “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.”

New: “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.”

Via What’s Your Brand Mantra?