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| The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends |
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| The demographic characteristics of the population and its values |
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| Describe a population according to selected characteristics such as age, gender, ethnicity, income and occupation |
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| Consist of the generation born between 1946 and 1964 |
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| Includes the 15 percent of the population born between 1965 and 1976. Also called baby bust |
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| Includes the 72 million Americans born between 1977 and 1994. Also called echo-boom or baby boomlet |
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| A family formed by merging two previously separated units into a single household |
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| Consists of combination's of the marketing that reflects the unique attitudes, ancestry, communication preferences and lifestyles of different races |
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| The concern for obtaining the best quality, features and performance of a product or service for a given price that drives consumption behavior |
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| Consists of the set of values, ideas and attitudes that are learned and shared among the members of a group |
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| Pertains to the income, expenditures and resources that affect the cost of running a business and household |
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| The total amount of money made in one year by a person, household or family unit. Also known as money income at the Census Bureau |
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| The money a consumer has left after paying taxes to use for necessities such as food, housing, clothing and transportation |
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| The money that remains after paying for taxes and necessitites |
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| Consists of the inventions or innovations from applied science or engineering research |
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| An information and communication based electronic exchange environment mostly occupied by sophisticated computer and telecommunication technologies and digitized offerings |
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| Any activity taht uses some form of electronic communication in the inventory, exchange advertisement, distribution and payment of goods and services. |
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| Consists of the alternative firms that could provide a product to satisfy a specific market's needs |
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| Business practices or conditions that make it difficult for new firms to enter the market |
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| Consists of the restrictions state and federal laws place on business with regard to the conduct of its activities |
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| A grassroots movement started in the 1960s to increase the influence, power and rights of consumers in dealing with institutions |
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| An alternative to government control where an industry attempts to police itself |
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| Creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large. |
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| The trade of things of value between buyer and seller so that each is better off after the trade |
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| Consists of people with both the desire and the ability to buy a specific offering |
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| One or more groups of potential consumers toward which an organization directs its marketing program |
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| Marketing manager's controllable factors (product, price, promotion and place) that can be used to solve a marketing problem |
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| Uncontrollable forces in a marketing decision involving social, economic, technological, competitive and regulatory forces |
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| Unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and boh before-sale and after-sale service at a specific price |
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| Links the organization to its individual customers, employees, suppliers and other partners for their mutual long-term benefits |
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| A plan that integrates the marketing mix to provide a good, service or idea to prospective buyers |
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| The idea that an organization should 1) strive to satisfy the needs of consumers and, 2) while also trying to achieve the organization's goals. |
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| Occurs when an organization focuses its efforts on 1) continuously collecting information about customers' needs, 2) sharing this info across departments, and 3) using it to create customer value |
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| Customer Relationship Management (CRM) |
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| The process of identifying prospective buyers, understanding them intimately and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace |
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| The internal response that customers have to all aspects of an organization and its offering |
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| Societal Marketing concept |
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| The view that organizations should satisfy the needs of consumers in a way that provides for society's well-being |
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| Consist of the people who use the goods and services purchased for a household. Also called consumers, buyers, or customers |
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| Manufacturers, wholesalers, retailers and government agencies that buy goods and services for their own use or for resale |
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| Consists of the benefits or customer value received by users of the product |
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| The money left after a business firm's total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in markting its offerings |
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| An organization's long-term course of action designed to deliver a unique costumer experience while achieving its goals |
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| The level in an organization where top management directs overall strategy for the entire organization |
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| Strategic Business Unit (SBU) |
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| A subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers |
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| The level in an organization where groups of specialists actually create value for the organization |
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| Consists of a small number of people from different departments in an organization who are mutually accountable to accomplish a task or common set of performance goals. |
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| The fundamental, passionate and enduring principles of an organization that guide its conduct over time |
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| A statement of the organization's function in society, often identifying its customers, markets, products and technologies. The term is often used interchangeably with vision |
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| consists of the set of values, ideas, attitudes and norms of behavior that is learned and shared among the members of an organization |
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