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14 Cards in this Set
- Front
- Back
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Marketing |
The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customres, clients, partners, and society at large. |
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Exchange |
People giving up something in order to receive something else they would rather have. |
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Production orientation |
A philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace. |
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Sales orientation |
The belief that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits. |
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Marketing concept |
The idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives. |
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Market orientation |
A philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a customer's decision to purchase a product. |
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Societal marketing orientation |
The idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals and society's long-term best interests. |
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Customer value |
The relationship between benefits and the sacrifice necessary to obtain those benefits. |
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Customer satisfaction |
Customer's evaluation of a good or service in terms of whether it has met their needs and expectations. |
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Relationship marketing |
A strategy that focuses on keeping and improving relationships with current customers. |
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Empowerment |
Delegation of authority to solve customer's problems quickly -usually by the first person the customer notifies regarding a problem. |
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Teamwork |
Collaborative efforts of people to accomplish common objectives. |
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Customer relationship management (CRM) |
A company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups |
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On-demand marketing |
Delivering relevant experiences, integrated across both physical and virtual environments, throughout the consumer's decision and buying process. |
