Term
| transaction-based marketing |
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Definition
| Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties |
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Term
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Definition
| Use of software to analyze marketing information, identifying and targeting messages toward specific groups of potential customers. |
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Term
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Definition
| The development and maintenance of long-term, cost-effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit. |
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Term
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Definition
| Affiliation of two or more companies that assist each other in the achievement of common goals. |
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Term
| customer relationship management (CRM) |
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Definition
| Combination of strategies and tools that drive relationship programs, reorienting the entire organization to a concentrated focus on satisfying customers. |
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Term
| electronic data interchange |
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Definition
Computer-to-computer exchanges of invoices, orders, and
other business documents. |
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Term
| quick response merchandising |
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Definition
| EDI strategy that reduces the time a retailer must hold merchandise in inventory, resulting in substantial cost savings |
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Term
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Definition
| Managerial actions that help all members of the organization understand and accept their respective roles in implementing a marketing strategy. |
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Term
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Definition
| Inventory-management system in which the seller determines -- based on an agreement with the buyer -- how much product the buyer needs. |
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Term
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Definition
| Frequent buyer (or user) marketing program that rewards customers who purchase a good or service with cash or other rewards |
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Term
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Definition
| Sequence of suppliers that contribute to the creation and delivery of a good or service |
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Term
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Definition
| Marketing effort sponsored by an organization such as an alumni association that solicits responses from individuals who share common interests and activities. |
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Term
| lifetime value of a customer |
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Definition
| The revenues and intangible benefits that a customer brings to the seller over an average lifetime less the amount the company must spend to acquire, market to, and service the customer. |
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