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;
19 Cards in this Set
- Front
- Back
|
Customer lifetime value
|
The value of the entire stream of purchases that the customer would make over a lifetime of patronage.
|
|
|
Customer perceived value
|
The customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.
|
|
|
Customer relationship management (CRM)
|
The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
|
|
|
Customer satisfaction
|
The extent to which a product's perceived performance matches a buyers expectations.
|
|
|
Demands
|
Human wants that are backed by buying power.
|
|
|
Exchange
|
The act of obtaining a desired object from someone by offering them something in return.
|
|
|
Internet
|
A vast public web of computer networks, which connects users of all types all around the world to each other and to an amazingly large information repository.
|
|
|
Market
|
The set of all actual and potential buyers of a product or service.
|
|
|
Marketing
|
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at-large.
|
|
|
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 competitors do.
|
|
|
Marketing management
|
The art and science of choosing target markets and building profitable relationships with them.
|
|
|
Market offering
|
Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
|
|
|
Needs
|
States of felt deprivation
|
|
|
Product 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.
|
|
|
Production concept
|
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 efficiently.
|
|
|
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.
|
|
|
Societal marketing concept
|
The idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interests.
|
|
|
Value
|
The usefulness of something considered in respect of a particular purpose.
|
|
|
Wants
|
The form human needs take as shaped by culture and individual personality.
|
