Term
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Definition
| Dividing the market by determining which benefits of the product to talk about |
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Term
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Definition
| A word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors |
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Term
| Business-to-business market |
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Definition
| All the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others |
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Term
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Definition
| All the individuals or households that want goods and services for personal consumption or use |
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Term
| Customer Relationship Management (CRM) |
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Definition
| The process of learning as much as possible about customers and doing everything you can over time to satisfy them-or even exceed their expectations-with goods and services |
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Definition
| Dividing the market by age, income, and education level |
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Term
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Definition
| The process of identifying the factors that can affect marketing success |
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Term
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Definition
| A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues |
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Term
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Definition
| Dividing the market by cities, counties, states, or regions |
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Term
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Definition
| The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large |
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Term
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Definition
A 3 part business philosophy:
1) A customer orientation
2) Service orientation
3) Profit orientation |
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Term
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Definition
| The ingredients that go into a marketing program: product, price, place, and promotion |
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Term
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Definition
| The analysis of markets to determine opportunity and challenges, and to find the information needed to make good decisions |
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Term
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Definition
| The process of dividing the total market into groups whose members have similar characteristics |
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Term
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Definition
| Developing products and promotions to please large groups of people |
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Term
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Definition
| The process of finding small but profitable market segments and designing or finding products for them |
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Term
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Definition
| Developing a unique mix of goods and services for each individual |
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Term
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Definition
| Data that you gather yourself (not from secondary sources such as books and magazines) |
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Term
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Definition
| Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as the brand name |
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Term
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Definition
| All the techniques sellers use to inform people about and motivate them to buy their product or service |
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Term
| Psychographic segmentation |
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Definition
| Dividing the market using the group's values, attitudes, and interests |
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Term
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Definition
| Marketing strategy with the goal of keeping individual customers over time by offering them products that exactly meet their requirements |
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Term
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Definition
| Information that has already been compiled by others and published in journals and books or made available online |
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Term
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Definition
| Marketing directed towared those groups an organization decides it can serve profitably |
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Term
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Definition
| The process of testing products among potential users |
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Term
| Volume (or usage) segmentation |
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Definition
| Dividing the market by usage |
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