According to Philip Kotler, the world’s guru of marketing, “Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products of value with others.” He also said this, “Marketing is the homework we do before we have a product.1” The American Marketing Association defines marketing 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.2” For years, others defined marketing as the four Ps: product, price, place, and promotion. (Other Ps were later added to that definition, such as “positioning” and “politics.”) ...
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