"Marketing is the art and science of choosing target markets and building profitable relationships by creating, communicating, and delivering superior customer value."
This definition emphasizes several key points:
* Target markets: Marketing isn't about trying to please everyone; it's about identifying specific groups of people who are most likely to be interested in your products or services.
* Building relationships: The goal of marketing is not just to make a one-time sale, but to cultivate long-term relationships with customers.
* Superior customer value: Marketing focuses on creating and delivering value to customers that exceeds their expectations. This could include things like high-quality products, excellent service, competitive prices, or convenient access.
* Creating, communicating, and delivering: This highlights the various activities involved in marketing, from developing products and services to promoting them and making them available to customers.
Kotler's definition is comprehensive and captures the essence of modern marketing as a customer-centric discipline focused on building lasting relationships and achieving profitability through value creation.