-
Marketing
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.
-
Relationship Marketing
Establishing long-tern, mutually satisfying buyer-seller relationships
-
Customer Relationship Management (CRM)
Using information about customers to create marketing strategies that develop and sustain desirable customer relationships
-
Customer Lifetime Value
A measure of a customer's worth (sales minus costs) to a business over one's lifetime
-
Utility
The ability of a good or service to satisfy a human need
-
Marketing Concept
A business philosophy that a firm should provide goods and services that satisfy customers' needs through a coordinated set of activities that allow the firm to achieve its objectives
-
Production Orientation/Sales Orientation
Production Orientation- Emphasis on increased output production efficiently
Sales Orientation- Focus on increased advertising, enlarged sales forced, and high-pressure selling technique
-
Market
a group of individuals or organizations or both, that need products in given category and that have the ability, willingness, and authority to purchase such products
-
Marketing Strategies
A plan that will enable and organization to make the best use of its resources and advantages to meet its objectives
-
Marketing mix
Combination of Product, price, distribution, and promotion developed to satisfy a particular target market
-
Target Market
A group of individuals that are suitable for a product or service
-
Market Segment/Market segmentation
Market Segment- Group of individuals that share one or more common characteristics within a market
Market Segmentation is the process of dividing a market
-
Marketing Plan
An organization objectives, or strategy used to created a specific product
-
Sales Forecast
An estimate of the amount of product that an organization expects to sell during a certain period of time
-
Marketing Information System
A system for managing marketing information that is gathered continually from internal and external sources
-
Marketing Research
The process of systematically gathering, recording, and analyzing data concerning a particular marketing problem
-
Consumer/Business Buying Behavior
Consumer buying Behavior- The purchasing of personal or household use
Business Buying Behavior-The purchasing of products by Producers, Resellers, Governmental units and Institutions
-
Personal/Disposable/Discretionary Income
Personal Income- The income an individual receives from all sources
Disposable Income- Personal income minus personal taxes
Discretionary Income- Disposable income minus saving and expenditures on food clothing and housing
|
|
