Marketing Ch.1

Front 1

Marketing

Back 1

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

Front 2

exchange

Back 2

people giving up something to receive something they would rater have

Front 3

production orientation

Back 3

a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace

Front 4

sales orientation

Back 4

the ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits

Front 5

marketing concept

Back 5

the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives

Front 6

market orientation

Back 6

a philosophy that assumes that a sale does not depned on aggressive sales force rather on a customer's decision to purchase product; it is synonymous with the marketing concept

Front 7

societal marketing orientation

Back 7

the idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individual's and society's long term best interests

Front 8

customer value

Back 8

the relationship between benefits and the sacrifice necessary to obtain those benefits

Front 9

customer satisfaction

Back 9

customer's evaluation of a good or service in terms of whether it has met their needs and expectations

Front 10

relationship marketing

Back 10

a strategy that focuses on keeping and improving relationships with current customers

Front 11

empowerment

Back 11

delegation of authority to solve customers' problems quickly-usually by the first person that the customer notifies regarding a problem

Front 12

teamwork

Back 12

collaborative efforts of people to accomplish common objectives