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29 Cards in this Set
- Front
- Back
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marketing |
the process by which companies creat value for customers and build strong customers relationships in order to capture value from customers in return |
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needs |
state of felt deprivation |
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wants |
the form human needs take as they are shaped by culture and individual personality |
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demands |
human wants that are backed by buying power |
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market offerings |
some combination of products service information or experiences offered to a market to satisfy a need or want |
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marketing myopia |
he mistake of paying more attention to the specific product a company offers |
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exchange |
the act of obtaining a desired object from someone by offering something in return |
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market |
the set of all actual and potential buyers of a product or service |
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market management |
the art and science of choosing target markets and building profitable relationships with them |
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production concept |
the ida that consumers will favor products that are available and highly affordable therefore the organization should focus on improving production and distributing efficiency |
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product concept |
the idea that customers will prefer the product with the most quality performance and features therefore the organization should devote its energy to making continuous product improvements |
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selling concept |
the idea that consumers will not buy enough of the companies products unless the firm undertakes a large scale selling and promotion effort |
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marketing concept |
a philosophy and which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do |
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social marketing concept |
the idea that a company marketing decision should consider consumers wants the companys requirements consumers long run interests and society's long run interests |
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customer relationship management |
the over all process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction |
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customer perceived value |
the customers evaluation of the difference between all the benefits and all the costs of a marketing offer relative to most of the competing offers |
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customer satisfaction |
the extent to which the customers perceived performance matches the buyers exceptions |
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customer engaged marketing |
making the brand and meaningful part of consumer conversations and live by fostering direct and continuous customer I love it and shaping brand conversations experiences in community |
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customer generated marketing |
brand exchanges created by customers themselves both invited and uninvited by which consumers are playing an increasing role in shaping their own brand experience and those of others |
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customer lifetime value |
the value of entire stream of purchases a customer makes over a lifetime of patronage |
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share of customer |
the share of the customer's purchasing in that a company gets in its products category |
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customer equity |
the total combined customer lifetime value of all the company's customers |
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Digital and social media marketing |
using digital marketing tools such as website social media mobile app San Dad on my video email and blogs that engage customers anywhere at anytime the other digital devices |
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partner relationship management |
working closely with partners in other company departments and outside the company to jointly bring greater value to customers |
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Strangers |
don't invest anything in them and make money on every transaction |
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marketing mix |
a set of marketing tools that work together to engage customer satisfaction customer needs and build relationships |
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Butterflies |
invest only when they are there make as much money as possible cease investing after they're gone |
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True friends |
they are both profitable and loyal invest keep them as long as possible |
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Barnacles |
they are leeches get rid of them if they are not profitable |
