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;
13 Cards in this Set
- Front
- Back
|
CUSTOMER LIFETIME VALUE
(CLV) |
The profit generated by the customer's purchase of an organization's product or service over the customer's lifetime
|
|
|
CUSTOMER RELATIONSHIP MANAGEMENT
(CRM) |
The process of building and developing long-term relationships with customers by delivering customer value and satisfaction
|
|
|
CUSTOMER SATISFACTION
|
The match between customer expectations of the product and the product's actual performance
|
|
|
eCRM
|
A web-centric, personalized approach to managing long-term customer relationships electronically
|
|
|
ENVIRONMENTAL FACTORS
|
The uncontrollable factors involving social, economic, technological, competitive, and regulatory forces
|
|
|
MACROMARKETING
|
The aggregate flow of a nation's goods and services to benefit society
|
|
|
MARKET
|
People with the desire and ability to buy a specific product
|
|
|
MARKET ORIENTATION
|
Focusing efforts on (1) continuously collecting information about customers' needs and competitors' capabilities (2) sharing this information throughout the organization, and (3) using the information to create value, ensure customer satisfaction, and develop customer relationships
|
|
|
MARKETING
|
An organizational function and a set of processes for creating, communicating, and delivering value to customer relationships in ways that benefit the organization and its stakeholders
|
|
|
MARKETING CONCEPT
|
The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals
|
|
|
MARKETING MIX
|
The marketing manager's controllable factors; the marketing actions or product, price, promotion, and place that he/she can take to create, communicate, and deliver value
|
|
|
MARKETING PROGRAM
|
A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers
|
|
|
MICROMARKETING
|
How an individual organization directs its marketing activities and allocates its resources to benefit its customers
|
