Home >> Flashcards >> Business >> Chapter 12
Shared Flashcard Set
Cards
Term
|
Definition
| A group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas |
|
|
Term
| What is market segmentation? |
|
Definition
| Refers to dividing the markets into segments of customers. |
|
|
Term
| What is target marketing? |
|
Definition
| Refers to which segments to go after. |
|
|
Term
| What are the bases for Segmenting Markets? |
|
Definition
|
|
Term
| What is looked for when using behavior when segmenting markets? |
|
Definition
-Occasion
-Benefit
-Usage Rate
-Loyalty Status |
|
|
Term
| Describe Value Proposition. |
|
Definition
| is the set of benefits or values a company promises to deliver to customers to satisfy their needs |
|
|
Term
| Describe Customer Relationship Management.(CRM) |
|
Definition
| The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction |
|
|
