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| An organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. |
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| Consumer needs that can be satified by the qualities or features of a good or service. |
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| The set of technical, scientific, and engineering processes involved in creating new or improved products to better satisfy customer needs. |
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| The developement and use of techniques to inform customers about the value of a company's products in order to persuade them to buy them |
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| Customer Relationship Management |
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| The process of tracking the demand and satisfaction of customers in an effort to develop products they will want to buy on an ongoing basis. |
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| Business Vision (Business Mission) |
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| A brief statement of a company's business model that tells stakeholders why the firm is in business, how it intends to satisfy customer needs, and why it will satisfy their needs better than its competitors. |
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| The typical sequence of changes in demand for a product that occur over time. |
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| The systematic search for information that uncovers met and unmet customer needs, the different needs of different customer groups, and whether or not a product's marketing mix appeals to customers. |
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| A group of people brought together to share their thoughts and feelings about a particular product and why it may or may not meet their needs. |
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| Companies that improvise their own solutions to business problems because no products currently exist that can do so. |
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| People or companies that believe their new products will better satisfy customer needs even though they have no sure proof of this. |
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| The process of examining the product's of one's competitors in depth in order to figure out what makes them stressful. |
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| Groups of people who have a similar needs for a particular product because the product satisfies several different kinds of needs. |
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| A group of customers the firm targets based on their need for its products. |
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| The process of setting a product apart from its competitors by designing and marketing it to better satisfy customers' needs. |
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| The Combination of a Product's qualities and features, its price, the way it is promoted and sold, and the places at which it is sold. |
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| A product-related message the firm's marketing department sends to customers about how and why a product will better satisfy their needs. |
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| Using a unique name, design, symbol, or other element to differentiate a product form its competitors. |
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| The specific name, sign, or symbol a company uses to distinguish and legally protect the identity of its products. |
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| The tendency of customers to consistently purchase a particular product over time because they believe it can best satisfy their needs. |
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| The process of customizing or tailoring a product to a specific market segment. |
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| The price a typical customer will be willing to pay for a product with a particular set or qualities and features. |
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| The way in which a company advertises, announces, publicizes, and pushes its products. |
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| The combination of advertising, sales promotions, public relations, and personal selling used to reach and persuade customers to buy a product. |
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| Tje paid, nonpersonal promotion of a company's goods and services using mass media to influence consumers. |
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| Nonpersonal, persuasive efforts designed to boost a company's sales immediately. |
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| The practice of conveying messages to the public through the media to influence people's opinions about the company and its products. |
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| Direct, face-to-face communication by salespeople with existing and potential customers to promote a company's product. |
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| The distribution and sales channels used to get both a product and its marketing message to the customer. |
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