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| the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return |
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| states of felt deprivation |
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| the form human needs takes as shaped by culture and individual personality |
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| human wants that are backed by buying power |
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| some combination of products, services, information, or experiences offered to a market to satisfy a need |
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| the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products |
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| the act of obtaining a desired object from someone by offering something in return |
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| the set of all actual and potential buyers of a product or service |
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| the art and science of choosing target markets and building profitable relationships with them |
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| the idea that consumers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency |
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| the idea that consumers will favor products that offer the most quality, performance, and features and that the organization should therefore devote its energy to making continuous product improvements |
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| the idea that consumers will not buy enough of the firms products unless it undertakes a large-scale selling and promotion effort |
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| the marketing management philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do |
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| the idea that a companys marketing decisions should consider consumers whats, the company's requirements, consumers' long-run interests and society's long-run interests |
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| customer relationship management |
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| the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction |
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| the customers evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers |
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| the extent to which a product's perceived performance matches a buyers expectations |
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| customer-managed relationships |
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| marketing relationships in which customers, empowered by todays now digital technologies, interact with companies and with each other to shape their relationships with brands |
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| customer-generated marketing |
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| brand exchanges created by consumers themselves--both invited and uninvited--by which consumers are playing an increasing role in shaping their own brand experiences and those of other customers |
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| partner relationship management |
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| working closely with partners in other company departments and outside the company to jointly bring greater value to customers |
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| the value of the entire stream of purchases that the customer world make over a lifetime of patronage |
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| the portion of the customers purchasing that a company gets in its product categories |
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| the total combined customer lifetime values of all the company's customers |
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| a vast public web of computer networks that connects users of all types all around the world to each other and to an amazingly large information repository |
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