The performance of business activities that direct the flow of goods and services from producer to consumer or user. Comment. The task of defining Marketing may be approached from at least three points of view. (1) The "legalistic" of which the following is a good example: "Marketing includes all activities having to do with effecting changes in the ownership and possession of goods and services." It seems obviously of doubtful desirability to adopt a definition which throws so much emphasis upon the legal phases of what is essentially a commercial subject. (2) The "economic" examples of which are: "That part of economics which deals with the creation of time, place, and possession utilities." "That phase of business activity through which human wants are satisfied by the exchange of goods and services for some valuable consideration." Such definitions are apt to assume somewhat more understanding of economic concepts than are ordinarily found in the market place. (3) The "factual or descriptive" of which the definition suggested by the committee is an example. This type of definition merely seeks to describe its subject in terms likely to be understood by both professional economists and business men without reference to legal or economic implications. This definition seeks to include such facilitating activities as marketing research, transportation, certain aspects of product and package planning, and the use of credit as a means of influencing patronage.