CIM puts forward new definition of marketing

by Gemma Charles Marketing 25-Sep-07, 08:30

LONDON - The Chartered Institute of Marketing (CIM) has proposed a redefinition of marketing for the first time in 30 years.

It currently characterises marketing as 'the management process responsible for identifying, anticipating and satisfying customer requirements profitably'.

In a paper titled 'Tomorrow's Word: Re-evaluating the Role of Marketing', the CIM proposes a longer, updated definition that includes themes of customer-focused operations, innovation and 'satisfying shareholders and stakeholders from business and the community' in order to contribute to 'positive behavioural change and a sustainable business future'.