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28 Cards in this Set

  • Front
  • Back
The Process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return
Marketing offer
Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
The act of obtaining a desired object from someone by offering something in return
The set of actual and potential buyers of a product or service
Marketing Management
The art and science of choosing target markets and building profitable relationships with them
Marketing to reduce demand temporarily or permanently, the aim is not to destroy demand but only to reduce or shift it.
Production Concept
The idea that consumers will favor products that are available and highly affordable.
Product Concept
The idea that consumers will favor products that offer the most in quality, performance, and features and that the organization should therefore devote its energy to making continuous product improvements.
Selling Concept
The idea that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort.
Marketing Concept
The marketing management philosophy that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitions do.
Social Marketing Concept
A principle of enlightened marketing that holds that a company should make good marketing decisions by considering consumers wants, the company’s requirements, consumers’ long-run interests, and society’s long run interests
Management (CRM)
The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction
Perceived value
The difference between total customer value and total customer cost.
Customer Satisfaction
The extent to which a product’s perceived performance matches a buyer’s expectations
Partner Relationship Management
Working closely with partners in other company departments and outside the company to jointly bring greater value to customers
Customer lifetime value
The value of the entire stream of purchases that the customer would make over a lifetime of patronage
Share of customer
The portion of the customer’s purchasing that a company gets in its product categories
customer equity
The total combined customer lifetime values of all of the company’s customers
strategic Planning
The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities. It involves defining a clear company mission, setting supporting objectives designing a sound business portfolio, and coordinating functional strategies.
Buisness portfolio
The collection of businesses and products that make up the company.
The process by which management evaluates the products and businesses making up the company.
Expansion grid
A portfolio-planning fool for identifying company growth opportunities through market penetration, market development, or diversification
A strategy for company growth by increasing sales of current products to current products to current market segments without changing the product.
A strategy for company growth by identifying and developing new market segments for current company products
Product Development
A strategy for company growth by offering modified or new products to current market segments
A strategy for company growth through starting up or acquiring businesses outside the company’s current products and markets.
Reducing the business portfolio by eliminating products or business portfolio by eliminating products or business units that are not profitable or that no longer fit the company’s overall strategy.
Value Chain
The series of departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products.