The Chartered Institute of Marketing (CIM) decided that its 30-year old definition of marketing was no longer good and that they needed to come up with a new one (via The Economic Times). The results are depressing.
Here’s the old definition:
The management process responsible for identifying, anticipating and satisfying customer requirements profitably
The new one:
The strategic business function that creates value by stimulating, facilitating and fulfilling customer demand. It does this by building brands, nurturing innovation, developing relationships, creating good customer service and communicating benefits. By operating customer-centrically, marketing brings positive return on investment, satisfies shareholders and stake-holders from business and the community, and contributes to positive behavioural change and a sustainable business future.
Yikes…the inmates are running the asylum at CIM!
How about something real simple, like Peter Drucker’s view on marketing:
The aim of marketing is to make selling superfluous. The aim is to know and understand the customer so well the product or service fits him and sells itself.