Mf Chapter 1

Front 1

Customer relationship management

Back 1

Managing detailed information about individual customer and carefully managing customer touch points to maximize loyalty.

Front 2

Production concept

Back 2

The idea that consumers will favour products that are available and highly affordable and that the organization should therefore focus on improving production and distribution efficiency.

Front 3

Customer-engagement marketing

Back 3

Making the brand a meaningful part of consumers conversations and life's.

Front 4

Customer satisfaction

Back 4

The extent which a product perceived performance matches a buyers expectations.

Front 5

Partner relationship management

Back 5

Working closely with partners in other company departments and outside the company to jointly bring greater value to customers

Front 6

Societal marketing concept

Back 6

Company marketing decisions should consider consumers want, company requirements, consumers long-term interest and society long-term interest

Front 7

Market offerings

Back 7

Some combination of products, services, information or experience offered to a market to satisfy a need or want

Front 8

Customer lifetime value

Back 8

The value of the entire stream of purchases a customer makes over a lifetime of patronage

Front 9

Needs

Back 9

States a felt deprivation

Front 10

Customer perceived value

Back 10

The customers evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers

Front 11

Demands

Back 11

Human wants that are backed up by buying power

Front 12

Marketing myopia

Back 12

To much attention on the product than the benefits and experience produced by those products

Front 13

Customer equity

Back 13

Total combined customer lifetime values of all the companys customers

Front 14

Share of customer

Back 14

The portion of the customer purchasing that a company gets in its product categories

Front 15

Wants

Back 15

The form human take as shaped by culture and individual personality

Front 16

Selling concept

Back 16

Customer won't buy enoucg without a large-scale selling and promotion effort

Front 17

Product concept

Back 17

Idea that consumers will. Favour products that offers the most quality, performance and features (without marketing)

Front 18

Consumer - generated marketing

Back 18

Brand exchange created by consumers themselves - both invited and uninvited - by which consumers are playing an increasing role in shaping their own brand experience and those of.other consumers

Front 19

Marketing concept

Back 19

The marketing management philosophy holds that achieving organizational goals depends on knowing the need and wants of target markets and delivering the desired satisfaction better than competitors do.

Front 20

Marketing

Back 20

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, stakeholders and society at large.

Front 21

Exchange

Back 21

The act of obtaining a desired object from someone by offering something in return.

Front 22

Market

Back 22

The set of all actual and potential buyers of a product or service.

Front 23

Marketing management

Back 23

The art and science of choosing target markets and building profitable relationships with them.