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| the benefits a customer receives from buying a good or service |
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| 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. |
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| buyers, sellers, or investors in a company, community residents, and even citizens of the nations where goods and services are made or sold- in other words, any person or organization that has a "stake" in the outcome |
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| the ultimate user of a good or service |
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| a management orientation that focuses on identifying and satisfying consumer needs to ensure the organization's long-term profitability |
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| the recognition of any difference between a consumer's actual state and some ideal or desired starte |
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| the desire to satisfy needs in specific ways that are culturally and socially influenced |
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| the outcome sought by a customer that motivates buying behavior - that satisfies a need or want |
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| customers' desires for prodcuts coupled with the resources needed to obtain then |
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| all the customers and potential customers who share a common need that can be satisfied by a specific product, who have the resources to exchange for it, who are willing to make the exchange, and who have the authority to make the exchange |
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| any location or medium used to conduct an exchange |
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| the usefulness or benefit consumers receive from a product |
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| the process by which some transfer of value occurs between a buyer and seller |
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| a management philosophy that emphasizes the most efficient ways to produce and distribute products |
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| a managerial view of marketing as a sales function, or a way to move products out of warehouses to reduce inventory |
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| a management philosophy that focuses on ways to satisfy customers' needs and wants |
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| Total Quality Management ( TQM ) |
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| a management philosophy that involves all employees from the assembly line onward in continuous product quality improvement |
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| a business person who only produces a product when it is ordered |
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| triple bottom line orientation |
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| a business orientation that looks at financial profits, the community in which the organization operates, and creating sustainable business practices |
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| customer relationship management (CRM) |
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| a strategy that involves systematically tracking consumers' preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individual's unique wants and needs |
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| a management philosophy that marketers must satisfy customers' needs in ways that also benefit society and also deliver profit to the firm |
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| a product design focus that seeks to create products that meet present consumer needs without compromising the ability of future generations to meet their needs |
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| return on investment (ROI) |
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| the direct financial impact of a firm's expenditure of a resource such as time or money |
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| the music, movies, sports, books, celebrities, and other forms of entertainment consumed by the mass market |
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| stories containing symbolic elements that express the shares emotions and ideals of a culture |
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| a tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process; a bundle of attributes including features, functions, benefits, and uses |
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| the goods individual consumers purchase for personal or family use |
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| intangible products that are exchanged directly between the producer and the customer |
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| business-to-business marketing |
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| the marketing of those goods and services that business and organizational customers need to produce other goods and services, for resale or to support their operations |
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| goods individuals or organizations buy for further processing or for their own use when they do business |
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| the buying or selling of goods and services electronically, usually over the internet |
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| not-for-profit organization |
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| organizations with public service goals that buy goods and services and functions and to attract and serve their members |
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| the market segments on which an organization focuses its marketing plan and toward which it directs its marketing efforts |
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| a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased |
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| lifetime value of a customer |
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| how much profit companies expect to make from a certain customer; companies estimate the amnt the person will spend and subtract what it will cost the company to maintain this relationship |
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| a superior capability of a firm in comparison to its direct competitors |
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| properties of products that set them apart from competitors' products by providing unique customer benefits |
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| designing, producing, marketing, delivering, and supporting any product; each link in the chain has the potential to add or remove value from the product |
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| everyday people functioning in marketing roles like participating in creating ads, providing input to new product development, or serving as wholesalers or retailers |
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| groups are smarter than the smartest people in them meaning that large numbers of consumers can predict successful products |
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| a practice used in the software industry in which companies share their software codes with anyone to assist in the development of a better product |
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| a physiological or psychological dependency on goods or services |
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| a document that describes the marketing environment , outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy |
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| all possible customers in a market, regardless of the differences in their specific needs and wants |
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| a distinct group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market |
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| the way in which the target market perceives the product in comparison to competitors brands |
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| a combo of the product itself, the price of the product, the place where it is made available, and the activities that introduce it to consumers and creates a desired response among a set of predefined consumers |
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| product, price, promotion, and place |
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| the assignment of value, or the amount the consumer must exchange must exchange to receive the offering |
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| the coordination of a marketer's marketing communications efforts to influence attitudes or behavior; the coordination of efforts by a marketer to inform or persuade consumers or organizations about goods, services, or ideas |
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| the availability of the product to the consumer at the desired time and location |
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