Term
| requirements for marketing to occur |
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Definition
- 2+ parties with unsatisfied needs
- a desire and ability to be satisfied
- a way for the parties to communicate
- something to exchange
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Term
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Definition
- discover the needs and wants of customers
- satisfy them
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Term
| how marketing satisfies consumer needs |
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Definition
- target market
- the 4 ps: controllable marketing mix factors
- customer value proposition
- uncontrollable environmental forces
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Term
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Definition
- product
- promotion
- price
- place
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Term
what are some uncontrollable environmental forces? |
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Definition
- social
- economic
- technological
- competitive
- regulatory
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Term
| what are some value strategies |
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Definition
- best price
- best product
- best service
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Term
| different orientations in the history of american business |
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Definition
- production era
- sales era (1920-1970)
- marketing concept era (1950-2000)
- customer relationship era (1990-)
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Term
| customer relationship management |
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Definition
- customer experience:
- what firms think they offer customers
- what customers say they receive
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Term
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Definition
- societal marketing concept
- macromarketing
- micromarketing
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Term
| who buys and uses what is marketed? |
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Definition
- ultimate consumers
- organizational buyers
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Term
| how do consumers benefit? |
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Definition
- form utility
- place utility
- time utility
- possession utility
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Term
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Definition
| the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large |
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Term
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Definition
| the trade of things of value between buyer and seller so that each is better off after the trade |
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Term
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Definition
| consists of people with both th desire and the ability to buy a specific offering |
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Term
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Definition
| consists of one or more specific groups of potential consumers toward which an organization directs its marketing program |
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Term
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Definition
| consists of the marketing manager's controllable factors- product, price, promotion, and place- that can be usd to solve a marketing problem |
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Term
| customer value proposition |
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Definition
| the cluster of benefits that an organization promises customers to satisfy their needs |
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Term
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Definition
| consists of the uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces |
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Term
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Definition
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the unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
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Term
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Definition
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links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
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Term
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Definition
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a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
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Term
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Definition
| the idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization’s goals |
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Term
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Definition
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occurs when an organization focuses its efforts on (1) continuously collecting information about customers’ needs, (2) sharing this information across departments, and (3) using it to create customer value.
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Term
| customer relationship management |
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Definition
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the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
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Term
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Definition
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the internal response that customers have to all aspects of an organization and its offering.
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Term
| societal marketing concept |
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Definition
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the view that organizations should satisfy the needs of consumers in a way that provides for society’s well-being.
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Term
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Definition
| a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value |
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Term
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Definition
consist of the people who use the goods
and services purchased for a household. Also called consumers, buyers, or customers |
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Term
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Definition
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those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
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Term
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Definition
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consists of the benefits or customer value received by users of the product.
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