Is Marketing a Philosophy or a Function?

Marketing, as an essential part of business strategies, has a rich history of evolving definitions and roles within the corporate context. The question of whether marketing is a philosophy or a function is not straightforward and often depends on the perspective from which one approaches the concept.

Marketing as a Function

Generally speaking, marketing can be understood as a function. It involves a series of structured processes and activities aimed at understanding the needs and wants of consumers, effectively communicating the value of products or services, and facilitating transactions to meet those needs.

The evolution of marketing as a function has been shaped by numerous factors, including technological advancements, changes in consumer behavior, and economic shifts. Due to these characteristics, the methods and modalities of implementing marketing decisions have been constantly adapting to new realities. For instance, the traditional marketing techniques that prevailed in the 20th century gave way to digital marketing strategies in the 21st century, driven largely by the proliferation of internet and mobile technologies.

Marketing as a Philosophy

Marketing can also be viewed as a philosophy, a set of basic beliefs, guiding principles, and attitudes that shape the way companies interact with their customers and the market as a whole. According to the American Marketing Association (AMA), marketing can be defined as '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.'

The first official definition attributed to marketing appeared in 1935 and was adopted by the National Association of Marketing Teachers, predecessors of the American Marketing Association. This definition remained largely unchanged for 50 years, until 1985 when it was revisited and modified. The most recent change in 2007 further refined the definition, emphasizing adaptability and responsiveness to changing market needs.

Key Definitions Through Time

Philip Kotler, a prominent marketing scholar, has contributed significantly to the understanding and evolution of marketing. His early definitions highlight the complexity and multifaceted nature of the discipline. Kotler defines marketing as 'seeking growth at a fair profit, through a process of finding, choosing, and serving market needs of adequate size and profitability, by efficient and effective methods that provide desired benefits to the seller and the buyer and contribute to social progress' in his initial books.

Another simpler and more general definition of marketing is 'the process by which companies create value for customers and build strong relationships to capture value from customers in return.' This definition captures the essence of marketing as a continuous cycle of value creation and exchange.

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Conclusion

In conclusion, marketing can be seen both as a philosophy and a function. As a function, it is a set of processes aimed at understanding and satisfying customer needs. As a philosophy, it embodies fundamental beliefs and practices that guide business strategies. The adaptability and ever-changing nature of marketing definitions reflect the dynamic and evolving nature of market economies and the ever-changing customer landscape.