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 offerings. Therefore, marketing does not only benefit the consumer, it also works in favor of the organization providing the offering.
According to the American Marketing Association's website, their definition of marketing is the following:
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
When considering how marketers can deliver value to their customers, we need to remember that marketers' customers are not the end user or consumer of products and services. Rather, a client who would employ the services of a marketer are trying to sell something. For example, a typical customer of a marketing agency could be a shoe store.
Sticking with this example, a marketer could provide good value to the shoe store by staying abreast of their competitors' activity and constantly adjusting the marketing mix to ensure that the shoe store's message is being heard by their target market.
The marketer would need to be continuously looking into new marketing opportunities that came along—this could mean advertising the shoe store on a new form or social media or on a new fashion blog. The marketer would also be required to come up with new creative concepts for the shoe store on a regular basis—for example, right now the marketer would be preparing Christmas adverts for the shoe store.
This is a good question. According to the the American Marketing Association website, they have approved of the following definition of marketing.
"Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."
As to your second question, marketers can do several things to deliver the best value to their customers. First, marketers could be honest and give customers only products that are built to last. In other words, they should seek to give customers products of quality. Second, marketers can look for the best deals out there, so that they could save the customers some money. In this economy, this point is very important. Finally, marketers can seek to market products in a cost effective way. This point is also worth mentioning, because marketing costs money and ultimately this cost is given to the consumer.