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12 Cards in this Set
- Front
- Back
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Marketing
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the activity, set of institutions, and process for creating, communicating, delivering, and exchanging offers that have value for customers, clients, parents, and society at large |
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Exchange |
people giving up one thing to receive another thing 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 idea 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 customers wants and needs while meeting organizational objectives |
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Market Orientation |
a philosophy that involves obtaining information about customers, competitors, and markets: examining the information from a total business perspective; determining how to deliver superior customer value; and implementing actions to provide value to customers |
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Social Market Orientation |
the idea that an organization exists not only to satisfy customers' wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long term best interest |
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Customer Value |
the relationship between benefits and the sacrifice necessary to obtain those benefits |
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Customer Satisfaction |
customers' evaluation of a good or service in terms of whether it has 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 that the customer notifies regarding a problem |
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Teamwork |
Collaborative efforts of people to accomplish common objectives |
