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23 Cards in this Set
- Front
- Back
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The total combined customer lifetime values of all the company's customers
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customer equity
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Marketing messages, ads, and other brand exchanges created by consumers themselves-- both invited and uninvited.
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customer-generated marketing
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The value of the entire stream of purchases that the customer would make over a lifetime of patronage.
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customer lifetime value
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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.
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customer-perceived value
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Managing detailed information about individual customers and carefully managing customer "touch points" in order to maximize customer loyalty; The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction
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customer relationship management
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The extent to which a product's perceived performance matches a buyer's expectations.
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customer satisfaction
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Human wants that are backed by buying power.
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demands
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The act of obtaining a desired object from someone by offering something in return.
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exchange
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A vast public web of computer networks that connects users of all types all around the world to each other and to an amazingly large "information repository."
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internet
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The set of all actual and potential buyers of a product or service.
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market
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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.
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marketing
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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.
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marketing concept
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The art and science of choosing target markets and building profitable relationships with them.
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marketing management
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The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products.
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marketing myopia
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Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
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market offering
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States of felt deprivation.
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needs
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Working closely with partners in other company departments and outside the company to jointly bring greater value to customers.
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partner relationship management
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A detailed version of the new-product idea stated in meaningful customer terms; 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.
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product concept
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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.
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production concept
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The idea that consumers will not buy enough of the firm's products unless it undertakes a large-scale selling and promotion effort.
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selling concept
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The portion of the customer's purchasing that a company gets in its product categories.
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share of customer
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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.
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societal marketing concept
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The form human needs take as shaped by culture and individual personality.
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wants
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