According to the american marketing association, the term is defined as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

The answer is: Marketing

Explanation:

In 2008, the American Marketing Association changed the definition of  marketing to:

"Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large."

This was done basically to broaden the activities involved in the process of marketing. With this new approach the AMA gave the whole process of marketing a much broader role in the activities involved in society. Before this new definition was released, marketing was seen as an organizational function which involved only the company (organization and stakeholders) and its customers.

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