What is the modern definition of Marketing?

It is very interesting question that I would like to answer and I just recollect my memories of my University while I was doing my MBA marketing. Many thanks Mr.Javed.

Many definitions exist with different emphasis on functional process and activities that constitute marketing.

According  Charted Institute of Marketing:  Marketing is a managerial process responsible for identifying, anticipating and satisfying consumer requirement profitably.

Whereas according to American management Association: Marketing is a process of planning and executing the perception, pricing , promotion and distribution of goods, ideas and services that create exchange to satisfy the organizational and individual requirements.

The modern definition of marketing is “Rightly emphasizes the focus of marketing on the customer, while at the same time implying a need to link to other business operations to achieve profitability”. To like this definition since it highlights four questions which need to be included within marketing plans:

• Identifying – how can we define groups of customers as market segments and personas?
• Anticipating – How can we use market research to identify changing and future customers’ needs and wants?
• Satisfying – how can we assess the drivers of customer satisfaction which encourage customer loyalty and recommendations?
• Profitably – how do we select the right mix of services and marketing communications using different channels to maximize our return-on-investment?
• Integration of channels and communications to create seamless customer journeys 

As a planning and implementation of the overall perception of pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy the needs of the process of individuals and enterprises process

From this definition we conclude that marketing is an administrative process aimed at the implementation of the exchanges for the benefit of the individual and the organization and marketing also is not limited to goods and services, rather than to the ideas and principles

It is important here to distinguish between sales and marketing, where the sale is part of the marketing, conception Bearish focuses on consumer persuade the purchase of a good or service has been produced in advance either marketing concept is based upon the role of the institution to discover the needs and consumer desires and attempt to develop the product or service that satisfy these needs and desires in order to make a profit here and conclude that companies that adopt the marketing concept be better able to achieve success and profit

The definition of Marketing remains the same, only the platforms of marketing seems to be evolving on a quarterly basis.

"Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably"

"Marketing" is an organizational function and a set process for creating, communicating and delivering value to customers and for managing customers relationship in way that benefit the organization and its stakeholders. It generates the strategy that underlies sale techniques, business communication and business developments.  

Full Agree with answer given by mr. Mohammed Ashraf 

1. the action or business of promoting and selling products or services, including market research and advertising. "the Western arts of marketing and distribution"