MKTG

PRINCIPLES OF MARKETING

ACTIVITY NO. 1 | MY PERSONAL MEANING OF MARKETING

Instructions
1. Using books, magazines, the Internet, and other forms of literature, research and list down at
least 10 definitions of marketing and the prominent personalities who gave them.

1. According to Philip Kotler, “Marketing is a social and managerial process by which

individuals and groups obtain what they need and want through creating and exchanging
products and value with others.”
2. According to the American Marketing Association (1988), “Marketing is the process of
planning and executing the conception, pricing, promotion, and distribution of ideas, goods,
and services to create exchanges that satisfy individual (customer) and organizational
objectives.”
3. Peter Drucker defines, “Marketing is not only much broader than selling; it is not a
specialized activity at all. It encompasses the entire business. It is the whole business seen
from the point of view of the final result, that is, from the customer’s point of view. Concern and
responsibility for marketing must therefore permeate all areas of the enterprise.”
4. In the words of Philip Kotler and Kevin Lane, “Marketing management is the art and
science of choosing target markets and getting, keeping and growing customers through
creating, delivering and communicating superior customer values of management.”
5. In the words of Cundiff and still (1964), “Marketing is a social process by which individuals
and groups obtain what they need and want, through creating and exchanging products and
value with others.”
6. According to Kotler and Armstrong, (1996)
“Marketing is the business function that identifies customers’ needs and wants, determines
which target markets the organization can serve best, and designs appropriate products,
services, and programs to serve these markets.”
7. Stanton (1964) defines, “Marketing is a total system of business activities designed to plan,
price, promote and distribute want-satisfying goods and services to present and potential
customers.”
8. Johnson (1982) states, “Marketing is the function that assesses consumer needs and then
satisfies them by creating an effective demand for, and providing, the goods and services at a
profit.”
9. Mark Burgess defines, “Marketing is the process by which a firm profitably translates
customer needs into revenue.”
10. According to Chris Garrett, “Marketing is the process of building relationships with prospects
and customers so that you can profitably develop and promote products and services.”
2. Identify and list down common key words or phrases you were able to notice collectively from
the definitions you gathered.

1. Philip Kotler - creating and exchanging products and value with others
2. American Marketing Association (1988) - process of planning and executing the
conception, pricing, promotion, and distribution of ideas, goods, and services
3. Peter Drucker - It encompasses the entire business
4. Philip Kotler and Kevin Lane - Marketing management is the art and science of
choosing target markets
5. Cundiff and still (1964) - creating and exchanging products and value with others
6. Kotler and Armstrong, (1996) - function that identifies customers’ needs and wants
7. Stanton - to present and potential customers
8. Johnson - consumer needs and then satisfies them by creating an effective demand
9. Mark Burgess - profitably translates customer needs into revenue
10. Chris Garrett - profitably develop and promote products and services

3. As a result of your research, you should now give your own personal definition of marketing
using the concepts you learned in the previous discussion.

For me my own personal definition of marketing is Marketing is defined as both "the

process or technique of promoting, selling, and distributing a product or service," and
"an aggregate
of functions involved in moving goods from producer to consumer."
4. Create a poster of your personal marketing definition.