Term
|
Definition
| process of creating, distributing, promoting, and pricing goods, services, and ideas in a way that benefits the organization and its stakeholders. |
|
|
Term
|
Definition
| focal point of all marketing activities |
|
|
Term
|
Definition
| a specific group of customers |
|
|
Term
|
Definition
| price, product, place (distribution), promotion |
|
|
Term
|
Definition
| good, service, or idea that satisfies customers |
|
|
Term
|
Definition
| have products available at right time and right place |
|
|
Term
|
Definition
| activities used to inform about products |
|
|
Term
|
Definition
| includes competitive, economic, political, legal/regulatory, technological, and sociocultural forces |
|
|
Term
|
Definition
| org. should try to provide products that satisfy customers' needs through activities that help org. achieve its goals |
|
|
Term
| the production orientation |
|
Definition
| up until 1920s; high demand for mass produced goods |
|
|
Term
|
Definition
| 1920s-1950s; demand subsided, firm's believed they had to "sell" products to buyers |
|
|
Term
| the marketing orientation |
|
Definition
| org.-wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments, and org.-wide responsiveness to it |
|
|
Term
|
Definition
| long-term, mutually beneficial arrangements in which both the buyer and seller focus on value enhancement through creation of more satisfying exchanges. |
|
|
Term
|
Definition
| customer relationship management |
|
|
Term
|
Definition
| = customer benefit - customer cost |
|
|
Term
|
Definition
| process of planning, organizing, implementing, and controlling marketing activities to facilitate exchanges effectively and efficiently |
|
|
