The American Marketing Association (AMA) defines marketing as:
The activity, conducted by organizations and individuals, that operates through a set of institutions and processes for creating, communicating, delivering, and exchanging market offerings that have value for customers clients, marketers, and the society at large.
The definition acknowledges that marketing is an action that is performed by both individuals and organizations. Furthermore, it recognizes that institutions such as the AMA play a crucial role in marketing. Moreover, the definition takes into account the processes involved in marketing. Examples of these processes include regulations and policies.
Furthermore, AMA’s definition makes it clear that one of the central roles of marketing is to facilitate and deliver market offerings. Products and services provided to potential consumers by business entities are considered market offerings. It is noteworthy that various stakeholders benefit from the provision of these...
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