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| An organizational function and a set of processes creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders |
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buyers, sellers or investors in a company, community residents and even citizens of the nations where goods and services are made or sold.
any person/organization that has a "stake" in the outcome |
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| the ultimate user of a good or service |
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| A mgmt orientation that focuses on identifying and satisfying consumer needs to ensure the organization's long term profitability. |
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| The recognition of any difference between a consumer's actual state and some ideal or desired state |
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| The desire to satisfy needs in specific ways that are culturally and socially influenced |
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| the outcome sought by a customer that motivates buying behavior - that satisfies a need or want |
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| customers' desires for products coupled with the resources needed to obtain them |
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| all the customers and potential customers who share a common need that can be satisfied by a specific product, who have the resources to exchange for it, who are willing to make the exchange and who have the authority to make the exchange. |
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| Any location or medium used to conduct an exchange |
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| digital products consumers buy for use i online contexts |
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| the usefulness or benefit consumers receive from a product |
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| The process by which some transfer of value occurs between a buyer and a seller |
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| A tangible good, service, idea or some combination of these that satisfies consumer or business consumer needs through the exchange process; a bundle of attributes including features, functions, benefits and uses |
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| the benefits a customer receives from buying a good or service. |
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| a mgmt philosophy that emphasizes the most efficient ways to produce and distribute products |
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| a managerial view of marketing as a sales function, or a way to move products out of warehouses to reduce inventory |
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| A business approach that prioritizes the satisfaction of consumers' needs and wants |
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| Total Quality Management (TQM) |
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| A mgmt philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement |
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| a businessperson who only produces a product when it is ordered |
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| triple bottom line orientation |
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| A business orientation that looks at financial profits, the community in which the organization operates and creating sustainable business practices |
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| customer relationship management (CRM) |
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| A systematic tracking of customers' preferences and behaviors over time in order to tailor the value proposition as closely as possible to each individuals unique wants and needs |
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| a company's success is measured by its share of mind rather than share of market, where companies make money when they attract eyeballs rather than just dollars |
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| a mgmt philosophy that marketers must satisfy customers' needs in ways that also benefit society and also deliver profits to the firm |
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| A product design focus that seeks to create products that meet present consumer needs without comprising the ability of future generations to meet their needs |
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| A marketing strategy that supports environmental stewardship, thus creating a differential benefit in the minds of consumers |
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| return on investment (ROI) |
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| The direct financial impact of a firm's expenditure of a resource such as time or money |
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| The music, movies, sports, books, celebrities, and other forms of entertainment consumed by the mass market |
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| Stories containing symbolic elements that express that shared emotions and ideals of a culture |
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| the goods individual consumers purchase for personal or family use |
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| intangible products that are exchanged directly between the producer and the consumer |
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| business-to-business marketing |
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| the marketing of goods and services from one organization to another |
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| Goods individuals or organizations buy for further processing or for their own use when they do business |
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| The buying and selling of goods and services electronically, usually over the internet |
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| Losses experienced by retailers due to shoplifting, employee theft, and damage to merchandise |
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| the deliberate defacement of products |
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| not-for-profit organization |
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| Organizations with charitable, educational, community, and other public service goals that buy goods and services to support their functions and to attract the serve their members |
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| a marketplace offering that fairly and accurately sums up the value that will be realized if the good or service is purchased |
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| events companies host to thank customers for their loyalty |
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| lifetime value of a customer |
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| the potential profit a single customer's purchase of a firm's products generates over the customer's lifetime |
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| A superior capability of a firm in comparison to its direct competitors |
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| properties of products that set them apart from competitor's products by providing unique customer benefits |
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| A series of activities involved in designing, producing, marketing, delivering, and supporting any product. Each link in the chain has the potential to add or remove value |
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| feedback vehicles the report (often in quantified terms) how the company or brand is actually doing in achieving various goals |
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| Measurements or "scorecards" marketers use to identify the effectiveness of different strategies or tactics |
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| Consumers who contribute ideas to online forums for the fun and challenge rather than to receive a paycheck |
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| consumer-generated content |
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| Everyday people functioning in marketing roles |
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| online platforms that allow a user to represent him or herself via a profile on a website and provide and receive links to other members of the network to share input about common interest |
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| The new generation of the World Wide Wed that incorporates social networking and user interactivity |
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| New apps that enable user generated clouds of content to form around products |
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| a classification system that relies on users rather than preestablished systems to sort contents |
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| under the right circumstances, groups are smarter than the smartest people in them, meaning that large numbers of consumers can predict successful products |
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| a practice used in the software industry in which companies share their software codes with one another to assist in the development of a better product |
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| A document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy |
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| All possible customers in a market, regardless of the differences in their specific needs and wants |
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| A distinctive group of customers within a larger market who are similar to one another in some way and whose needs differ from other customers in the larger market |
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| the market segments on which an organization focuses its marketing plan and towards which it directs its marketing efforts |
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| The way in which the target market perceives the product in comparison to competitor's brands |
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| A combination of the product itself, the price, the place, and the activities that introduce it to consumers that creates a desired response among a set of predefined consumers |
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| product, price, promotion, place |
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| the assignment of value or the amount the consumer must exchange to receive the offering |
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| the coordination of a marketer's communication efforts to influence attitudes or behavior |
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| The availability of the product to the customer at the desired time and location |
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