Term
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Definition
| process by which cos. create & capture customer value through strong relationships |
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Term
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Definition
| state sod (felt) deprivation |
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Term
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Definition
| human needs shaped by culture & indiv. personality |
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Term
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Definition
| wants backed by buying power |
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Term
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Definition
| satisfy needs or wants of market by products, srvcs, info, experiences (or combo of the above) |
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Term
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Definition
| mistake (by sellers) of paying mor attention to specific products than the products' benefits & experiences |
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Term
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Definition
| offering something in return for obtaining desired object [service] |
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Term
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Definition
| all actual & potential buyers of prod./ srvc. |
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Term
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Definition
| art & science of building profitable relationships with target markets |
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Term
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Definition
| idea that org. should improve output & distribution efficiency because consumers favor available & highly affordable products |
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Term
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Definition
| idea that consumers won't buy enough unless firm sells and promotes large scale |
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Term
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Definition
| delivering satisfaction better than competitors by knowing needs & wants of target markets |
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Term
| societal marketing concept |
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Definition
co.'s marketing decisions should include:
-- consumer wants
-- co.'s requirements
-- consumers' long-run interests
-- society's long-run interests |
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Term
| customer relationship management (CRM) |
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Definition
| building and maintaining profitable cuts. relationships thru superior cuts. value & satisfaction |
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Term
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Definition
| diff. btw. benefits & costs of an offer and other offers |
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Term
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Definition
| when product's performance matches buyer's expectations |
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Term
| customer-managed relationships |
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Definition
| customers interact w/ co.s to shape relationship/ brand through today's digital technology |
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Term
| partner relationship management |
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Definition
| bringing > value to customers by working w/ other septs. / co.s |
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Term
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Definition
| value of entire stream of purchases by customer over lifetime of patronage |
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Term
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Definition
| portion of customer's purchasing that company gets in its product category |
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Term
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Definition
| all of co's customers' lifetime values |
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Term
| 5 core concepts of customer, marketplace |
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Definition
| 1) needs, wants, demands 2) market offerings 3) cuts. value & satisfaction 4) exchanges & relationships 5) markets |
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Term
| 2 important questions of strategy, designing |
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Definition
| 1) target market? 2) value prop? |
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Term
| selling concept vs. marketing concept |
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Definition
selling: factory>existing producers>sell, promote> inc. profit thru hi sales volume
marketing: market>cust. needs>Integrated mrktg>inc. profit thru cust. satisfaction |
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