10 Boone & Kurtz Contemporary Marketing

Front 1

affinity marketing

Back 1

Marketing effort sponsored by an organization that solicits responses from individuals who share common interests and activities.

Front 2

cobranding

Back 2

Cooperative arrangement in which two or more businesses team up to closely link their names on a single product.

Front 3

comarketing

Back 3

Cooperative arrangement in which two businesses jointly market each other’s products.

Front 4

customer relationship management (CRM)

Back 4

Combination of strategies and tools that drives relationship programs, reorienting the entire organization to a concentrated focus on satisfying customers.

Front 5

database marketing

Back 5

Use of software to analyze marketing information, identifying and targeting messages toward specific groups of potential customers.

Front 6

electronic data interchange (EDI)

Back 6

Computer-to-computer exchanges of invoices, orders, and other business documents.

Front 7

frequency marketing

Back 7

Frequent buyer or user marketing programs that reward customers with cash, rebates, merchandise, or other premiums.

Front 8

internal marketing

Back 8

Managerial actions that help all members of the organization understand and accept their respective roles in implementing a marketing strategy.

Front 9

lifetime value of a customer

Back 9

Revenues and intangible benefits, such as referrals and customer feedback, that a customer brings to the seller over an average lifetime, less the amount the company must spend to acquire, market to, and service the customer.

Front 10

one-to-one marketing

Back 10

Program that is customized to build long-term relationships with customers, one at a time.

Front 11

partnership

Back 11

Affiliation of two or more companies that assist each other in the achievement of common goals.

Front 12

relationship marketing

Back 12

Development and maintenance of long-term, cost-effective relationships with individual customers, suppliers, employees, and other partners for mutual benefit.

Front 13

supply chain

Back 13

Sequence of suppliers that contribute to the creation and delivery of a good or service.

Front 14

transaction-based marketing

Back 14

Buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between the parties.

Front 15

vendor-managed inventory (VMI)

Back 15

Inventory management system in which the seller—based on an existing agreement with a buyer—determines how much of a product is needed.