SLIM creates history with its own definition of “marketing”

Friday, 10 January 2014 01:30 -     - {{hitsCtrl.values.hits}}

In keeping with its mission, Sri Lanka Institute of Marketing (SLIM) actively promotes marketing as the driving force, which enhances business and national value. SLIM strives to continuously add value to the marketing fraternity by its activities and undertakings. As the national body for marketing in Sri Lanka, SLIM turned a new page in the history of marketing, by unveiling its very own marketing definition to the marketing fraternity at a press conference held at Hilton Residencies recently. “Marketing is the corporate philosophy and the central business function of an organisation that creates value for its customers and other stakeholders through competitive, profitable and sustainable exchange processes.” states the SLIM definition. Explaining the rationale for the SLIM definition of marketing, Professor Uditha Liyanage said that in comparison to physical sciences, social sciences do have numerous definitions given the scope and the nature of the subject. “We invited senior marketers to provide their input and tentative definitions were put together by a committee. Key operative terms of the definitions of marketing institutions and eminent personalities such as Professor Philip Kotler (2012), Peter Drucker and published were considered and finally the SLIM definition was developed,” he pointed out. The scope of the SLIM definition has more depth and covers intent, role, mode and attributes. SLIM President Gamika De Silva said that it was the onus of SLIM to come out with own definition as a national body and SLIM intends to publish the new definition in all its texts books, invite Charted Institute of Marketing (UK) and Asian Marketing Federation and other reputed marketing associations to endorse and finally submit it to Professor Philip Kotler for his endorsement.  We have identified a broader scope and launched our definition. “Launching our own marketing definition will undoubtedly turn another chapter in the history of SLIM,” he added. SLIM CEO/Executive Director Sanath Senanayake said: “Marketing has been evolving at a rapid pace and present many challenges to practitioners and for a long time we have been contemplating to introduce an indigenous definition which captures all aspects of this diverse and dynamic field. Therefore SLIM, backed by a rich history of 43 years as the national body of marketing, has formulated this definition for the benefit of current and future marketers. The new definition includes an area which adds to its contemporary relevance and we are confident it would be accepted around the world.” Describing the occasion as a historic one for the marketing fraternity,  Project Chairman – Marketing Definition Charitha Jayasinghe said that it was the tireless effort of the committee that made the Marketing Definition a reality for SLIM. “The committee comprised academics, lecturers, corporates, students and other stakeholders of SLIM. The final definition was determined after several rounds of seeking feedback and referring many a definition of various renowned marketing establishments, marketing professionals and published material,” he added. Sri Lanka Institute of Marketing founded in 1970, has created a professional educational career path in marketing commencing from the entry level, preliminary certificate in marketing going right up to MBA covering a gamut of disciplines in marketing such as; brands, sales pharmaceutical and insurance.