Term
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Definition
| the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives |
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Term
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Definition
| developing mutually beneficial long-term partnerships with customers to enhance customer satisfaction and to stimulate long-term customer loyalty |
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Term
| customer relationship management (CRM) |
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Definition
| using information about customers to create marketing strategies that develop and sustain desirable customer relationships |
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Term
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Definition
| a combination of purchase frequency, average value of purchases, and brand-switching patterns over the entire span of a customer's relationship with a company |
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