Term
| customer relationship management |
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Definition
| overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. it deals with all aspects of acquiring, keeping, and growing customers. |
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Definition
| the customer's evaluation of the difference between all the benefits and costs of a market offering relative tot hose of competing offers. They don't judge accurately; they judge on perceived value. |
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Definition
| depends on the product's perceived performance relative to buyer's expectations |
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Term
| consumer-generated marketing |
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Definition
| a significant marketing force through a profusion of consumer-generated videos, blogs, and websites, consumers are playing an increasing role in shaping their own brand experiences |
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Definition
| revenue stream of 1 customer for 1 brand over time |
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Definition
| the share that customer relationship management get out of customer's purchasing in their product categories. |
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Definition
| total combined customer lifetime values of all the company's current and potential customers |
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Term
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Definition
| Exploratory, Descriptive, Causal |
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Definition
| Observational, Survey, Experimental |
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Definition
| people that have a significant effect on an individual’s evaluations, aspirations, or behavior. |
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Term
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Definition
| a person who influences others’ attitudes or behaviors. |
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Term
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Definition
| most basic cause of our own wants and behavior. learned from family, church, school, peers, etc. reflects basic values, perceptions, wants |
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Term
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Definition
| collection of businesses and products that make up the company |
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Term
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Definition
| management evaluates the products and businesses that make up the company |
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Term
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Definition
| by BCG. Vertical axis shows market attractiveness and horizontal axis shows relative market share. |
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Term
| product market expansion grid |
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Definition
| from page 131, involves new products and new markets. |
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Term
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Definition
| making more sales without changing its original product. |
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Term
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Definition
| identifying and developing new markets for its current products. |
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Term
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Definition
| offering modified or new products to current markets |
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Definition
| starting up or buying businesses outside of its current products and markets. |
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Term
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Definition
| when companies develop strategies for shrinking business portfolios due to multiple reasons (ex: grown too fast or enter areas where it lacks experience) |
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Definition
| the marketing logic by which the company hopes to create this customer value and achieve these profitable relationships |
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Term
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Definition
| the process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs |
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Definition
| consumers who respond in a similar way to a given set of marketing efforts |
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Term
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Definition
| evaluating each market segment's attractiveness and selecting one or more segments to enter |
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Term
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Definition
| arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers |
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Term
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Definition
| separating company's marketing offering so that it gives consumers more value |
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Term
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Definition
| set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market. |
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Term
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Definition
| consists of the actors close to the company that affect its ability to serve its customers--the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. |
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Term
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Definition
| consists of the larger societal forces that affect the microenviornment--demographic, economic, natural, technological, political, cultural. |
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Definition
| help company to promote, sell, and distribute to final buyers--resellers, physical distribution firms, marketing service agencies, financial intermediaries. |
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Term
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Definition
| calls for dividing the market into different geographical units to operate in or pay attention to. |
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Term
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Definition
| divides the market into segments based on variables such as age, gender, family size, income, etc. most popular bases for segmenting customer groups because it's closely tied to usage rates. |
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Term
| age and life-cycle segmentation |
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Definition
| companies offering different products or using different marketing approaches for different age and life cycle groups. |
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Term
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Definition
| targeting different consumers of various income for luxury goods or cheap goods. |
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Term
| psychographic segmentation |
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Definition
| divides buyers into different segments based on social class, lifestyle, or personality characteristics |
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Term
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Definition
| divides buyers based on their knowledge, attitudes, uses, or responses to a product. |
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Term
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Definition
| when a firm targets several market segments and designs separate offers for each. |
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Definition
| when a firm goes after a large share of one or a few smaller segments or niches. |
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Definition
| practice of tailoring products and marketing programs to suit the tastes of specific individuals and locations. |
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Term
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Definition
| defined by consumers on important attributes, where it's occupied in consumers' minds. |
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Term
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Definition
| products and services customers buy frequently, immediately, and with minimum comparison |
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Term
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Definition
| products and services customers buy frequently, immediately, and with minimum comparison |
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Definition
| less frequently purchased consumer products and services that they compare on suitability, quality, price, and style. |
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Term
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Definition
| consumer products and services with unique characteristics for which a significant group of buyers is willing to make special purchase effort, such as cars, photographic equipment, etc. |
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Term
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Definition
| consumer products that the consumer either does not know about or knows about but does not normally think of buying. |
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Term
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Definition
| those purchased for further processing or for use in conducting a business |
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Term
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Definition
| a group of products that are closely related because they function in a similar matter. |
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Term
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Definition
| consists of all the product lines and items that a particular seller offers for sale |
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Term
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Definition
| when services cannot be separated from their providers, whether the providers are people or machines. |
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Term
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Definition
| quality of services depends on who provides them as well as when, where, and how they are provided. |
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Term
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Definition
| services cannot be stored for later sale or use |
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Term
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Definition
| links service firm profits with employee and customer satisfaction |
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