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| process which companies create value for customers and build strong customer relationships in order to capture value from customers in return |
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| states of felt deprivation |
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| shaped by culture and personality |
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| wants backed by buying power |
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| combo of products, services, info, or experiences offered to a market to satisfy a need/want |
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| mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products |
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| act of obtaining a desired object from someone by offering something in return |
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| set of all actual and potential buyers of a product/service |
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| art/science of choosing target markets and building profitable relationships with them |
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| idea that consumers will favor products that are available and highly affordable; therefore, the org should focus on improving production and distribution efficiency |
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| idea that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort |
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| philosophy in which achieving org goals depends on knowing the needs/wants of target markets and delivering the desired satisfactions better than competitors do |
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| societal marketing concept |
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| idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests |
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| set of marketing tools the firm uses to implement marketing strategy; product, price, place, and promotion |
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| customer relationship mgmt |
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| overall process of building and maintaining profitable customer relationships by delivering superior customer value/satisfaction |
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| customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers |
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| extent to which a product's perceived performance matches a buyer's expectations |
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| customer-engagement marketing |
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| making the brand a meaningful part of consumers' conversations and lives by fostering direct and continuous customer involvement in shaping brand convos, experiences, and community |
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| consumer-generated marketing |
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| brand exchanges created by consumers themselves, both invited/uninvited, by which consumers are playing an increasing role in shaping their own brand experiences and those of other consumers |
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| partner relationship mgmt |
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| working closely with partners in other company departments and outside the company to jointly bring greater value to customers |
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| value of the entire stream of purchases a customer makes over a lifetime of patronage |
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| portion of the customer's purchasing that a company gets in its product categories |
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| total combined customer lifetime values of all of the company's customers |
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| potentially profitable but not loyal |
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| highly loyal buy not profitable |
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| digital and social media marketing |
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| using digital marketing tools such as web sites, social media, mobile apps, online videos, email, that engage consumers via their digital devices |
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| actors and forces outside marketing that affect marketing mgmts. ability to build and maintain successful relationships with target customers |
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| actors close to the company that affect its ability to serve its customers; the company, suppliers, marketing intermediaries, customer markets, competitors, and publics |
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| larger societal forces that affect the microenvironment; demographic, economic, natural, technological, political, and cultural forces |
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| firms that help the company to promote, sell, and distribute its goods to final buyers |
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| any group that has an actual or potential interest in or impact on an orgs ability to achieve its objectives |
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| study of human populations in terms of size, density, location, age, gender, race, occupation, and other stats |
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| 78 million ppl born from '45-'64 |
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| 49 million ppl born from '65-'76 |
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| 83 million children born between '77-'00 |
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| physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities |
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| environmental sustainability |
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| developing strategies and practices that create a world economy that the planet can support indefinitely |
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| technological environment |
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| forces that create new technologies creating new product and market opportunities |
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| laws, government agencies, and pressure groups that influence and limit various orgs and individuals in a given society |
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| institutions and other forces that affect a society's basic values, perceptions, preferences, and behaviors |
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| fresh understandings of customers and the marketplace derived from marketing info that become the basis for creating customer value and relationships |
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| people and procedures dedicated to assessing info needs, developing the needed info, and helping decision makers to use the info to generate and validate actionable customer and market insights |
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| electronic collections of consumer and market info obtained from data sources within the company network |
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| competitive market intelligence |
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| the systematic collection and analysis of publicly available info about consumers, competitors, and developments in the marketing environment |
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| systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an org |
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| marketing research to gather preliminary info that will help define problems and suggest hypothesis |
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| marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers |
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| marketing research to test hypotheses about cause-and-effect relationships |
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| info that already exists somewhere, having been collected for another purpose |
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| info collected for the specific purpose at hand |
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| gathering primary data by observing relevant people, actions, and situations |
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| a form of observational research that involves sending trained observers to watch and interact with consumers in their natural environments |
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| gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior |
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| gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses |
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| personal interviewing that involves inviting 6-10 people to gather for a few hours with a trained interviewer to talk about a product, service, or org |
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| online marketing research |
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| collecting primary data online via internet surveys, online focus groups, web based experiments, or tracking consumers' online behavior |
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| gathering a small group of people online with a trained moderator to chat about a product, service, or org and gain qualitative insights about consumer attitudes and behavior |
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| using online consumer tracking data to target advertisements and marketing offers to specific consumers |
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| segment of the population selected for marketing research to represent the population as a whole |
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| customer relationship mgmt |
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| managing detailed info about individual customers and carefully managing customer touch points maximize customer loyalty |
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| buying behavior of final consumers - individuals and households that buy goods and services for personal consumption |
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| all the individuals and households that buy or acquire goods/services for personal consumption |
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| set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions |
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| a group of people with shared value systems based on common life experiences and situations |
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| including ethnic themes and cross-cultural perspectives within a brand's mainstream marketing, appealing to consumer similarities across subcultures rather than differences |
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| relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors |
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| two or more people who interact to accomplish individual or mutual goals |
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| the impact of the personal words and recommendations of trusted friends, associates, and other consumers on buying behavior |
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| a person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert social influence on others |
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| online social communities - blogs, social networking web sites, and other comm. where people socialize or exchange info and opinions |
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| a persons pattern of living as expressed in his/her activities, interests, and opinions |
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| unique psychological characteristics that distinguish a person or group |
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| need that is sufficiently pressing to direct the person to seek satisfaction of the need |
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| process by which people select, organize, and interpret info to form a meaningful pic of the world |
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| changes in an individual's behavior arising from experience |
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| a descriptive thought that a person holds about something |
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| person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea |
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| buyer discomfort caused by post purchase conflict |
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| mental process through which an individual passes from first hearing about an innovation to final adoption |
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| biz buying situation in which the buyer routinely reorders something without any modifications |
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| biz buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers |
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| biz buying situation in which the buyer purchases a product or service for the first time |
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| buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation |
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| all the individuals and units that play a role in the purchase decision-making process |
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| carefully analyzing a product's or service's components to determine if they can be redesigned and made more effectively and efficiently to provide greater value |
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| purchasing via electronic connections between buyers and sellers usually online |
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