The new definition of marketing was officially unveiled at the AMA Summer Educators’ Conference in Boston in August. It incorporates the contributions of many marketers from around the world, both academics and practitioners.

The impetus to examine and possibly revise the official definition came from AMA CEO Dennis Dunlap. Currently, marketers are nearly unanimous in believing that the industry is rapidly changing, though that was not always the case.

The first official definition of marketing was adopted in 1935 by the National Association of Marketing Teachers, a predecessor of the AMA. It was adopted by the AMA in 1948, and again in 1960 when the AMA revisited the definition and decided not to change it. This original definition stood for 50 years, until it was revised in 1985.

The Marketing News cover story offers insights into the evolution of the definition of marketing from Greg Marshall, who is immediate past head of the academic division of the AMA, which oversaw the most recent revision, and Robert Lusch, the former AMA chairman of the board who for the last year has led the effort to update the definition of marketing. The story also offers reflections on the definition of marketing from nine well-known marketers.

The new definition of marketing, as released by the American Marketing Association, is:

Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.