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The term marketing, what is typically referred to as drawing in consumers, incorporates understanding acquired by studying the management of exchange and is the service procedure of recognizing, anticipating and satisfying customers' wants and needs. Meaning Marketing is currently specified by the American Marketing Association (AMA) as "the activity, set of organizations, and procedures for developing, communicating, delivering, and exchanging offerings that have worth for customers, customers, partners, and society at large".

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The AMA evaluates this definition and its definition for "market research" every three years. The interests of "society at big" were included into the meaning in 2008. The development of the meaning might be seen by comparing the 2008 definition with the AMA's 1935 version: "Marketing is the efficiency of organization activities that direct the flow of products, and services from manufacturers to consumers".

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Current definitions of marketing place more focus on the customer relationship, rather than a pure exchange process. For example, respected marketing author and educator, Philip Kotler has actually progressed his definition of marketing. In  More In-Depth , he specified marketing as "rewarding wants and needs through an exchange process", and in 2018 defined it as "the procedure by which business engage customers, develop strong consumer relationships, and create customer worth in order to catch worth from consumers in return".

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Besides, clients some definitions of marketing highlight marketing's capability to produce value to shareholders of the firm as well. In this context, marketing can be specified as "the management procedure that seeks to maximise returns to shareholders by developing relationships with valued customers and developing a competitive advantage". For circumstances, the Chartered Institute of Marketing specifies marketing from a customer-centric perspective, concentrating on "the management process accountable for determining, preparing for and pleasing consumer requirements beneficially".