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20 Cards in this Set
- Front
- Back
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The process by which companies create value for customer and build strong customer relationships in order to capture value from customers in return
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Marketing
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States of felt deprivation
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Needs
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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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Human wants that are backed by buying power
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Demands
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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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The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produces by these products
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Marketing Myopia
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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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The set of all actual and potential buyers of a product or service
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Market
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The art and science of choosing target marketing and building profitable relationships with them
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Marketing Management
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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 favor products that offer the most quality, performance, and features and that the organization should therefore devote its energy to marketing continuous product improvements
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Product 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 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 idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interest and society's long-run interest
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Societal Marketing Concept
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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 marketing continuous product improvements
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Product Concept
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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 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 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 idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interest and society's long-run interest
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Societal Marketing Concept
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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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