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10 Cards in this Set
- Front
- Back
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an organizational function and a collection of processes designed to plan for, create, communicate, and deliver value to customers and to build effective customer relationships in ways that beneft the organization and its stakeholders
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Marketing
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a promise to deliver specific benefits associated with products or services to consumers
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Brand
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the financial capacity to buy what one wants
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Demand
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a necessity to meet an urgent requirement
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Need
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the satisfaction received from owning or consuming a product or service
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Utility
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the benefits that exceed the costs of products, services, or other items
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Value
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a desire for something that is not essential
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Want
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an organizational philosophy dedicated to understanding and fulfilling consumer needs through the creation of value
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Marketing concept
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the present value of all profits expected to be earned from a customer over the lifetime of their relationship with a company
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Customer lifetime value
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the activities that are used to establish, develop, and maintain customer relationships
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Customer relationship management (CRM)
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