Even more on semantics.
WARC reported on the proposal by the Chartered Institute of Marketing to change the current definition of marketing from:
‘The management process responsible for identifying, anticipating and satisfying customer requirements profitably’
To:
‘Marketing is the strategic function that creates value by stimulating, facilitating and fulfilling customer demand. It does this by building brands, nurturing innovation, developing relationships, creating good customer service and communicating benefits. By opening customer-centrically, marketing brings positive return on investment, satisfies shareholders and stakeholders from business and the community, and contributes to positive behavioural change and a sustainable business future.’
While I am all for change and think that our terminology is important, this definition seems like a step backwards to me. The issue is not redefining what marketing is, rather it’s redefining how marketing is done. The existing definition (IMO) still stands, it’s just that the means to achieve this have changed. Rather than spend time on taxonomy, I think it might be more useful to spend time building the marketing models of tomorrow.