Introduction
According to the American Marketing Association (AMA), marketing is 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.” This definition highlights the broad scope of marketing activities and the various stakeholders who benefit from them. In this article, we will explore who benefits from marketing activities according to the AMA definition.
Customers
Customers: are at the core of marketing activities. The AMA definition emphasizes creating offerings that have value for customers. Marketing helps customers by providing them with information about products or services, enabling them to make informed purchasing decisions. Effective marketing campaigns can also create awareness and desire for products, fulfilling customers’ needs and wants.
Organizations
Organizations: engage in marketing activities to achieve their goals. Marketing helps organizations by promoting their products or services to target customers, increasing brand awareness, and driving sales. Through marketing, organizations can differentiate themselves from competitors, build customer loyalty, and ultimately increase their market share and profitability.
Partners
Partners: play a crucial role in marketing activities. Partners can include suppliers, distributors, retailers, and other businesses that collaborate with the organization to deliver value to customers. Marketing activities help partners by creating demand for their products or services and fostering mutually beneficial relationships. For example, a manufacturer’s marketing efforts can benefit its distributors by generating customer interest and driving sales.
Society
Society: as a whole benefits from marketing activities in various ways. Marketing contributes to economic growth by stimulating demand and creating employment opportunities. It also helps in the dissemination of information and knowledge, as marketing campaigns often educate consumers about new products, technologies, or social issues. Additionally, marketing can promote social causes and corporate social responsibility initiatives, raising awareness and driving positive change in society.
Conclusion
Marketing activities, as defined by the AMA, benefit a wide range of stakeholders. Customers benefit from marketing by receiving information about products and services that fulfill their needs and wants. Organizations benefit by promoting their offerings, increasing sales, and achieving their business goals. Partners benefit by collaborating with organizations and leveraging marketing efforts to drive their own success. Finally, society benefits from marketing through economic growth, knowledge dissemination, and the promotion of social causes.
References
– American Marketing Association: www.ama.org
– Kotler, P., & Armstrong, G. (2016). Principles of Marketing. Pearson.
