Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
18 Cards in this Set
- Front
- Back
|
Some combination of products, services, information or experiences offered to a market to satisfy a need or a want
|
Market Offering
|
|
|
The mistake of paying more attention to the specific products a company offers then to the benefits and experiences produced by these products
|
Marketing Myopia
|
|
|
The act of obtaining a desired object from someone by offering something in return.
|
Exchange
|
|
|
The set of all actual and potential buyers of a product or service
|
Market
|
|
|
The art and science of choosing target markets and building profitable relationships with them.
|
Marketing Management
|
|
|
The idea that consumers will favor products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency.
|
Production Concept
|
|
|
The idea that consumers will favor products that offer the most quality, performance, and features and that the organization should therefore devote its energy to making continuous product improvements.
|
Product Concept
|
|
|
The idea that consumers will not buy enough of the firms products unless it undertakes a large scale selling and promotion effort.
|
Selling 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 the competitors do.
|
Marketing Concept
|
|
|
The idea that a companys marketing decisions should consider consumers wants, the companys requirements, consumers long-run interests and societys long-run interests.
|
Societal Marketing Concept
|
|
|
The overall process of building and maintaining profitable customer relationships by delivering superior customer calue and satisfaction.
|
Customer relationship management
|
|
|
The customers evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competng offers.
|
Customer-perceived value
|
|
|
The extent to which a product's perceived performance matches a buyer's expectations.
|
Customer satisfaction
|
|
|
Marketing messages, ads, and other brand exchanges created by consumers themselves-both invited and uninvited.
|
Consumer-generated marketing
|
|
|
Working closely with partners in other company departments and outside the company to jointly bring greater value to customers
|
Partner relationship management
|
|
|
The value of the entire stream of purchases that the customer would make over a lifetime of patronage
|
Customer lifetime value
|
|
|
The portion of the customers purchasing that a company gets in its product categories
|
Share of customer
|
|
|
The total combined customer lifetime values of all of the conpanys customers.
|
Customer equity
|
