Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/10

Click to flip

10 Cards in this Set

  • Front
  • Back

Using information about customers to create marketing strategies that develop and sustain desirable long-term customer relationships is known as }

customer relationship management

New Seasons Market, a locally owned and operated one-stop grocery store based in Portland, Oregon is committed to providing local products for its particular customer base. New Seasons strives to deepen customer trust and loyalty by keeping close and regular connection with customers in a quest to better understand the customers’ needs and desires. New Seasons Market is creating a model for

relationship marketing..

________________ describes the worth of a customer over the their entire relationship with a company

Customer Lifetime Value

To be successful with its marketing concept a business must:

communicate with customers to assess their needs.

From the beginning of the Industrial Revolution until the early twentieth century, business effort was directed mainly toward

the production of goods.

In today's business world good marketing focuses:

on building a relationship with customers and delighting them.

In the 1920s, producers had to shift to a newsales orientation, which was characterized by all of the following except

determining what goods consumers wanted

To implement the marketing concept, a firm mustfirst

obtain information about its customers' needs.

Many people spend money on stereo equipment and compact discs. They have the ability, willingness, and authority to purchase such products because of their perceived need. These people are an example of a(n) ____ market.

Consumer

A market segment toward which a company directs its marketing effort is called a

Target Market