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| process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create and maintain cutomer relationships |
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| efforts a company makes to satisfy its customers to help them realize the greatest possible value from the products they are purchasing |
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| marketing efforts to attract people and organizations to a particular geographical area |
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| identification and marketing of a social issue, cause, or idea to selected target markets |
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| difference between a person’s actual state and his of her ideal state; provides the basic motivation to make a purchase |
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| goods, services, experiences, or other entities that are desirable in light of a person’s experiences, culture, and personality |
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| act of obtaining a desired object or service from another party by offering something of value in return |
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| power of a good or service to satisfy a human need |
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| customer value created by converting raw materials and other inputs into finished goods and services |
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| customer value added by making a product available at a convenient time |
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| customer value added by making a product available in a convenient location |
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| customer value created when someone takes ownership of a product |
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| approach to business management that stresses cutomer needs and wants, seeks long term profitablitilty, and integrates marketing with other functional units within th organization |
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| afocus on developing and maintaining long term relationships with customers, supplies, and dsistribution partners for mutual benefit |
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| degree to which customers continue to buy from a particular retailer or buy the products of a particular manufacturer or service provider |
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| permission based marketing |
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| marketing approach in which firms first ask permissions to deliver messages to an audience and then premise to restrict their communication efforts to those subject areas in which audience members have expressed interest |
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| the delivery of marketing messages to people who are not aware that they are being marketed to; these messages can be delivered by either acquaintances or strangers, depending on the technique |
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| individuals or households that buy goods and services for personal use |
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| businesses, nonprofit organizations, and government agencies that purchase goods and services for use in their operations |
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| behavior exhibited by consumers as they consider, select, and purchase goods and services |
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| tension that exists when a person’s beliefs don’t match his or her behaviors; a common example is buyer’s remorse, when someone regrets a purchase after making it |
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| the collection and analysis of information for making marketing decisions |
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| process of building, maintaining, and using customer databases for the purpose of contacting customers and transacting business |
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| strategic marketing planning |
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| the process of examining and organization’s current marketing situation, assessing opportunities and setting objectives, then developing a marketing strategy to reach those objectives |
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| a firm’s portion of the total sales in a market |
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| overall plan for marketing a product; includes target market segments, a positioning strategy, and a marketing mix |
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| a group of customers who need or want a particular product and have the money to buy it |
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| division of a diverse market into smaller, relatively homogeneous groups with similar needs, wants and purchase behaviors |
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| study of statistical characteristics of a population |
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| categorization of customers according to their geographical location |
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| classification of customers on the basis of their psychological make up |
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| method of combining geographical data with demographic data to develop profiles of neighborhood segments |
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| categorization of customers according to their relationship with products or response to product characteristics |
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| specific customer groups or segments to whom a company wants to sell a particular product |
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| using promotion, product, distribution, and price to differentiate a good or service from those of competitors in the mind of the prospective buyer |
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| the four key elements of marketing strategy: product, price, distribution, and promotion |
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| good or service used the basis of commerce |
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| the amount of money charged for a product or service |
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| systems for moving goods and services from producers to customer; also known as marketing channels |
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| wide variety of persuasive techniques used by companies to communicate with their target markets and the general public |
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| buyers’ willingness and ability to purchase products |
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| customer-focused companies |
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| build their marketing strategies around the goal of long-term relationships with satisfied customers |
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| the emphasis is on building a business by generating as many sales transactions as possible, rather than on creating lasting relationships with customers |
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| customers help promote your products to friends, family, and colleague |
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| giving customers something of value in exchange for the opportunity to present promotional information |
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| readers valuable information they can use in running their business |
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| we make a purchase then regret doing so- sometimes immediately after the purchase |
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| provide information about product choices and establish values that individual consumers perceive as important |
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| groups that members belong in (family, sports teams etc.) |
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| efforts to present products to groups that are organized around a specific lifestyle element |
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| the visual counter part of data mining, involves videotaping shoppers so that researchers can study their movements and behaviors throughout a store |
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| companies record the results of their planning efforts in a document |
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| homogeneous groups of customers within a market that are significantly different from each other |
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| undifferentiated marketing |
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| ignore differences among buyers and offer one product or product line to satisfy the entire market |
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| companies that manufacture or sell a variety of products to several target customer groups |
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| acknowledge that various other market segments exist but choose just one |
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| changed position in the market which is more favorable |
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| things that we can actually touch and possess |
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| things for our enjoyment such as basketball games and amusement parks |
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| what the product is or does |
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| what it does for the customer |
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| covers the organized network of firms that move goods and services from the producer to the consumer |
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| marketing channels/marketing intermediaries |
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| same thing as distribution channels |
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