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19 Cards in this Set
- Front
- Back
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Consumer Value Framework (CVF)
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-consumer behavior theory that illustrates factors that shape consumption-related behaviors
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Customer Relationship Management (CRM)
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-systematic management information system that collects, maintains, and reports detail info about consumers
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Relationship Quality
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-degree of connectedness between a consumer and an organization
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Cognition
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-thinking or mental process that go on as wee process and store things that become knowledge
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Affect
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-feelings associated with with objects or experiences during events
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Situational Influences
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-things unique to a time or place that can affect consumer decision making
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Value
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-a personal assessment of net worth obtained from an activity
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Utilitarian Value
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-value derived from a product that helps the consumer with some task
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Hedonic Value
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-value derived from the immediate gratification that comes from some activity
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Marketing Strategy
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-way a company goes about creating value for customers
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Augmented Product
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-actual physical product purchased plus any services such as installation and warranties necessary to use the product and obtain its benefits
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Total Value Concept
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-business practice wherein companies operate with the understanding that products proved value in multiple ways
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Marketing Mix
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-product
-place -promotion -price |
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Elasticity
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-degree to which a consumer is sensitive to changes in some product characteristic
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Product Differentiation
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-market place condition in which consumers do not view all competing products as identical to one another
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Product Position
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-way a product is perceived by a consumer
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Perceptual Map
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-tool used to depict graphically the position of competing products
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Ideal Points
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-combination of product characteristics that provide the most value to a customer or market segment
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Customer Lifetime Value
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-approximate worth of a customer to a company in economic terms
-overall profitability of an individual customer |
