Term
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Definition
| Marketing is managing profitable customer relationships |
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Term
5 step model of
MARKETING PROCESS |
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Definition
1. UNDERSTANDING
market place
customer needs and wants
2. Design a customer - driven marketing strategy
3. Construct an integrated marketing program that delivers superior value
4. Build profitable relationships and create customer delight
5. Capture value from customers tocreate profits and customer equity |
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Term
| 5 CORE CUSTOMER AND MARKETPLACE CONCEPT |
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Definition
1. NEEDS, WANTS AND DEMANDS
2. MARKET OFFERINGS
3. VALUE AND SATISFACTION
4. EXCHANGES AND RELATIONSHIPS
5. MARKETS |
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Term
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Definition
States of felt deprivation
- physical
- social
- individual
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Term
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Definition
| The form human needs take as they are shaped by culture and individual personality |
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Term
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Definition
| Wants backed by buying power |
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Term
Consumers needs and wants are fulfilled through.....
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Definition
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Term
MARKET OFFERINGS
definition
types |
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Definition
1. Some combination of products, services, information, or experiances offered to a market to satisfy a need or a want.
2. types
Services
Products
Experiences
Information
People
Places
Ideas |
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Term
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Definition
| Focusing only on existing wants and losing sight of underlying consumer needs |
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Term
| CUSTOMER - DRIVEN MARKETING STRATEGY |
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Definition
MARKETING MANAGEMENT
SELECTING CUSTOMERS
CHOOSING VALUE PROPOSITION |
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Term
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Definition
| Choosing target markets and building profitable relationships with them |
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Term
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Definition
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Term
| CHOOSE VALUE PROPOSITIONS |
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Definition
| Set of benefits or values a company promises to deliver to customer to satisfy their needs |
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Term
| CUSTOMER-DRIVEN MARKETING STRATEGY |
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Definition
PRODUCTION CONSEPT
PRODUCT CONSEPT
SELLING CONSEPT
MARKETING CONSEPT
SOCIETAL CONSEPT |
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