Ch 11 - Introduction To 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

application service providers (ASPs)

Back 2

Outside companies that specialize in providing both the computers and the application support for managing information systems of business clients.

Front 3

business-to-business (B2B) marketing

Back 3

Organizational sales and purchases of goods and services to support production of other products, for daily company operations, or for resale.

Front 4

buyer partnership

Back 4

Relationship in which a firm purchases goods and services from one or more providers.

Front 5

buzz marketing

Back 5

Marketing that gathers volunteers to try products and then relies on them to talk about their experiences with their friends and colleagues.

Front 6

cobranding

Back 6

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

Front 7

collaborative planning, forecasting, and replenishment (CPFaR)

Back 7

Planning and forecasting approach based on collaboration between buyers and sellers.

Front 8

comarketing

Back 8

Cooperative arrangement in which two or more businesses jointly market each other's products.

Front 9

customer churn

Back 9

Turnover in a company's customer base.

Front 10

customer relationship management (CRM)

Back 10

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

Front 11

customer satisfaction

Back 11

Extent to which customers are satisfied with their purchases.

Front 12

customer win-back

Back 12

Process of rejuvenating lost relationships with customers.

Front 13

database marketing

Back 13

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

Front 14

electronic data interchange (EDI)

Back 14

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

Front 15

employee satisfaction

Back 15

Employee's level of satisfaction in his or her company and the extent to which that loyalty or lack there of is communicated to external customers.

Front 16

external customers

Back 16

People or organizations that buy or use a firm's goods or services.

Front 17

frequency marketing

Back 17

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

Front 18

grassroots marketing

Back 18

Efforts that connect directly with existing and potential customers through non mainstream channels.

Front 19

interactive television

Back 19

Television service package that includes a return path for viewers to interact with programs or commercials by clicking their remote controls.

Front 20

internal customers

Back 20

Employees or departments within an organization that depend on the work of another employee or department.

Front 21

internal marketing

Back 21

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

Front 22

internal partnership

Back 22

Relationship involving customers within an organization.

Front 23

lateral partnership

Back 23

Strategic relationship that extends to external entities but involves no direct buyerseller interactions.

Front 24

lifetime value of a customer

Back 24

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

Front 25

national account selling

Back 25

Promotional effort in which a dedicated sales team is assigned to a firm's major customers to provide sales and service.

Front 26

partnership

Back 26

Affiliation of two or more companies that help each other achieve common goals.

Front 27

quick-response merchandising

Back 27

Just-in-time strategy that reduces the time a retailer must hold merchandise in inventory, resulting in substantial cost savings.

Front 28

relationship marketing

Back 28

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

Front 29

seller partnership

Back 29

Relationship involving long-term exchanges of goods or services in return for cash or other valuable consideration.

Front 30

strategic alliance

Back 30

Partnership in which two or more companies combine resources and capital to create competitive advantages in a new market.

Front 31

supply chain

Back 31

Sequence of suppliers that contribute to the creation and delivery of a product.

Front 32

transaction-based marketing

Back 32

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

Front 33

vendor-managed inventory (VMI)

Back 33

Inventory management system in which the sellerin an existing agreement with a buyerdetermines how much of a product is needed.

Front 34

viral marketing

Back 34

Efforts that allow satisfied customers to spread the word about products to other consumers.

Front 35

Web services

Back 35

Platform-independent information exchange systems that use the Internet to allow interaction between firms.