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18 Cards in this Set

  • Front
  • Back
Customer Value
The unique combination of benefits received by targeting buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
Environmental Forces
The uncontrollable social, economic, technological, competitive, and regulatory forces that affect the results of a marketing decision.
Exchange
The trade of things of value between buyer and seller so that each is better off after the trade.
Market
People with both the desire and the ability to buy a specific offering. All markets are ultimately people.
Market Orientation
focusing organizational effects to collect and use information about customers' needs to create customer value
Marketing
the activity for creating and delivering offerings that benefit the organization, its stakeholders, and society
Marketing Concept
the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.
Marketing Mix
are the controllable factors - the marketing manager can use to solve a marketing problem. Called controllable factors because they are under control of the marketing department in an organization.
Marketing Program
a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
Organizational Buyers
are manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
Relationship Marketing
Linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit. Involving a personal, ongoing relationship between the organization and its individual customers that begin before and continues after the sale.
Societal Marketing Concept
the view that organizations should satisfy the needs of consumers in a way that also provides for society's well-being.
Target Market
one or more specific groups of potential consumers toward which and organization directs its marketing program.
Ultimate Consumers
Are the people who use the goods and services purchased for a household.
Utility
the benefits or customer value received by users of the product
Organization
A legal entity that consists of people who share a common mission.
Offerings
Products, services, or ideas that create value for both the organization and its customers by satisfying their needs and wants
Business Firm
A privately owned organization such as Google or Nike that serves its customers to earn a profit so that it can survive