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| is 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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| States of felt deprivation. |
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| the form human needs take as shaped by culture and individual personality. |
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| Human wants that are backed by buying power. |
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| Some combination of products, services, information or experience offered to a market to satisfy a need or want. |
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| The mistake of paying more attention to the specific producs a company offers than to the benefits and experiences produced by these products. |
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| The act of obtaining a desired object from someone by offering something in return. |
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| The set of all actual and potential buyers of a product of services |
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| The art and science of chosing target markets and building profitable relationships with them. |
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| The idea that consumers will favor products that are available and highly afforadable and that the organization should therefore focus on improving production and distribution efficiency. |
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| The idea that consumers will favor products that offer the most quality, performance, and features and that the organization should therefore devote its energy to making continuous product improvements. |
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| The idea that consumers will bot buy enough of the firm's products unless it undertakes a large scale selling and production effort. |
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| The marketing management philosophy that holds that achieving organizationl goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. |
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| Societal Marketing Concept |
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| The idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interest, and society's long-run interest. |
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| Customer Relationship Management |
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| The overall process of builing and maintaining profitable customer relationships by delivering superior customer value and satisfaction |
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| The customer's evaluation of the differences between all the benefits and all the cost of a marketing offer relative to those of competing offers. |
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| The extent to which a product's perceived performance matches a buyer's expectations. |
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| Consumer Generated Marketing |
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| Marketing messages, ads, and other brand exchanges created by consumers themselves-both invited and univited. |
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| Partner relationship management |
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| Working closely with partners in other company departments and outside the ocmpany to jointly bring greater value to customers. |
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| The value of the entire stream of purchases that the customer would make over a lifetime of patronage. |
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| The portion of the customer's purchasing that a company gets in its product categories |
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| The total combined customer lifetime vaules of all the comapany's customers |
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| a vast public web of computer networks, which connects users of all types all around the world to each other and to an amazingly large information repository. |
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