Term
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Definition
| want-satisfying power of a good or service. 6 |
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Term
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Definition
| process of planning and executing the conception, princing, promotion, and distribution of ideas, goods, services, organizations, and events to create an maintain relationships that will satisfy individual and organizationl objectves. 7 |
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Term
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Definition
| Activity in which two or more parties give something of value to each other to satisfy perceived needs. |
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Term
| Production orientation era |
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Definition
| the prevailing attitude of this era held that a good product (one with high physical quality) would sale itself. 9 |
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Term
| Four eras in the history of marketing |
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Definition
| 1) production, 2) sales, 3) marketing, 4) relationship. 9 |
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Term
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Definition
| assume that customers will resist purchasing goods and services not deemed essential and that the task of personal selling and advertising is to convince them to buy. 10 |
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Term
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Definition
| market in which ther are more buyers for fewer goods an serevices. 11 |
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Term
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Definition
| market in which there are more goods and services than people willing to buy them. 11 |
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Term
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Definition
| business philiosophy incorporating the marketing concept that emphasizes first determining unmet consumer needs and then designing a system for satisfying them. 11 |
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Term
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Definition
| companywide consumer orientation with the abjective of achieving long-run success. 11 |
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Term
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Definition
| developement and maintenance of long-term, cost-effective relationships with individual customers, suppliers, employees, and other partnersfor mutual benefit. 11 |
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Term
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Definition
| management's failure to recognize the scope of its business. 13 |
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Term
| For-profit and not-for-profit |
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Definition
| the most obvious distinction between not-for-profit organizations and for-profit commercial firms is the financial bottom line. 16 |
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Term
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Definition
| marketing efforts designed to cultivate the attention, interest, and preference of a target market toward a person (typically a political candidate or celebrity). 17 |
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Term
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Definition
| marketing efforts to attract people and organizations to a particular geographic area. 18 |
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Term
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Definition
| identification and marketing of a social issue, cause, or idea to selected target marketers. 19 |
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Term
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Definition
| marketing of sporting, cultural, and charitable activities to selected target markets. 20 |
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Term
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Definition
| marketing by mutual-benefit organizations, service organizations, and governmentorganizations intended to influence others to accept their goals, receive their services, or contribute to them in some way. 20 |
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Term
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Definition
| is a human activity that produces original ideas or knowledge, frequently by testing combination of ideas or data to produce unique results. 21 |
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Term
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Definition
| refers to the process of determining the authenticity, accuracy, and worth of information, knowledge, claims and arguments. 21 |
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Term
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Definition
| is the business application of knowledge based on scientific discoveries, inventions and innovations. 22 |
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Term
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Definition
| buyer-seller communications in which the customer controls the amount and type of information received from a marketer through such channels as the Internet, CD-ROMs, interactive toll-free telephone numbers, and virtual reality kiosk. 23 |
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Term
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Definition
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Term
| Transaction-based marketing |
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Definition
| the traditional view of marketing as a simple exchange process (which is being replaced by a different, longer term approach that emphasizes building relationships one customer at a time). 26 |
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Term
| Lifetime value of a customer |
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Definition
| Revenues and intangible benefits that a customer brings to an organization over an average lifetime, minus the investment the firm has made to attract and keep the customer. 26 |
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Term
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Definition
| which is exactly what it sounds like: customized marketing program designed to build long-term relationships with individual customers. 27 |
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Term
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Definition
| partnerships in which two or more companies combine resources and capital to create competitive advantages in a new market. 29 |
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Term
|
Definition
| marketing intermediaries 30 |
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Term
| Eight Universal Marketing Functions |
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Definition
| 1) Buying, 2) Selling, 3) Transporting, 4) Storing, 5) Standardizing and Grading, 6) Financing, 7) Risk Taking, 8) Securing marketing information. 31 |
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Term
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Definition
| moral standards of behavior expected by society. 31 |
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Term
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Definition
| involves marketing philosophies, policies, procedures, and actions whose primary objective is the enhancment of society. 32 |
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