The vast diversity of the proposed definitions of parody, both before and after the twentieth century, can be an emblem of the lack of a thorough agreement amongst the literary critics about the definition of this literary technique (genre?!). While there is not a comprehensive all-accepted definition of parody, modern and postmodern literatures both exhibit a wide application of it. After looking at the definition of parody under Bakhtin's dialogic concepts, Genette's structuralist viewpoints, and Barthes's poststructuralist notions this study endeavours to put forward a more comprehensive and more applicable definition of parody mainly based on Bakhtin's dialogic criticism. Parody then can be defined as a deliberate imitation or transformation of a socio-cultural product (including literary and non- literary texts, and utterance in its very broad Bakhtinian understanding of it) that recreates its original subject having at least a playful stance towards it.