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Definition
| managing profitable customer relationships; process by which companies create value for customers and capture value in return |
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| A simple model of the marketing process |
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| states of felt depression |
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Definition
| the form human needs take as shaped by culture and individual personality |
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Definition
| human wants that are backed by buying power |
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Definition
| some combination of products, services, information, or experiences offered to a market to satisfy a need or want |
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| the mistake of sellers; paying more attention to the specific products they offer than to the benefits and experiences produced by these products |
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| the set of actual and potential buyers of a product or service |
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| the art and science of choosing target markets and building profitable customer relationships with them |
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| marketing to reduce demand temporarily or permanently; aim is not to destroy demand but only to reduce or shift it |
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| Production concept (1 of 5) |
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Definition
| the idea that customers will favor products that are AVAILABLE and highly AFFORDABLE |
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Definition
| the idea that customers will favor products that offer the most in QUALITY, PERFORMANCE, and features and that the organization should therefore devote its energy to making CONTINUOUS PRODUCT IMPROVEMENTS |
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Definition
| the idea that consumers will not buy enough of the firm's products unless it undertakes a LARGE-SCALE SELLING and PROMOTION effort |
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Term
| Marketing concept (4 of 5) |
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Definition
| the marketing management philosophy that holds that achieving ORGANIZATIONAL GOALS depends on knowing the NEEDS and WANTS of target markets and delivering the DESIRED SATISFACTION better than competitors do |
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Term
| Societal marketing concept (5 of 5) |
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Definition
| a principle of ENLIGHTENED MARKETING that holds that a company should make good marketing decisions by considering consumers wants, the company's requirements, consumer' long-run interests and society's long-run interests |
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Term
| Customer Relationship Management (CRM) |
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Definition
| the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction |
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Term
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Definition
| the difference between total customer value and total customer cost |
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Definition
| the extent to which a product's perceived performance matches a buyer's expectations |
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| Partner relationship management |
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Definition
| working closely with partners in other company departments and outside the company to jointly bring greater value to customers |
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Definition
| the value of the entire stream of purchases that the customer would make over a lifetime of patronage |
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Definition
| the total combined customer lifetime values of all of the company's customers. |
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Definition
| Customer relationship groups |
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