Leading body calls for a new definition of marketing

In the last 10 years, marketing has grown by around 80% and there are now well over half a million marketers in Britain. Digital media has exploded onto the scene and social marketing has changed the ethics of the profession. Yet, the way marketing defines itself has not changed in 30 years.

In its latest Shape the Agenda paper, Tomorrow’s Word: Re-evaluating the Role of Marketing, The Chartered Institute of Marketing is calling on marketers to re-examine how they view themselves - to challenge traditional norms and redefine where the profession is going.

The Institute’s current definition, which is widely regarded by the profession as the benchmark, defines marketing as ‘the management process responsible for identifying, anticipating and satisfying customer requirements profitably.’ The proposed new definition turns the focus away from management to the customer, in order to reflect the current nature of marketing.

“We want to make it reflect the reality of marketing today,” said David Thorp, director of research and information at The Institute.
“That marketing’s a strategic business function not a ‘fluffy’ subject. That it delivers tangible and measurable benefits for the business, that it’s geared towards the customer, addressing their needs and demands and not the ones marketing think they need or want,” added Thorp.
The proposed new definition reads:

‘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 returns on investment, satisfies shareholders and stakeholders from business and the community, and contributes to positive behavioural change and a sustainable business future’.

“What we would really like is for marketers to start thinking about who they are, where they think the profession should go and how it should be seen. We want to engage marketers and stimulate discussion on answers to these questions because we consider it long overdue,” said Thorp. (courtesy: CIM UK)