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. (AMA 2013)
Marketing in the classical definition is business strategy. It's deciding what product to build for what type of customer, how to reach that customer for promotion and sales, and how to measure success. It encompasses product strategy, product management, product marketing, and marketing communications as well as field marketing and channel management.
As used in many businesses today, "marketing" is short for marketing communications, a department focused on promotional programs as well as brand management.
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