Mktg1

customers’ evaluation of a good or service in terms of whether it has met their needs and expectations

the relationship between benefits and the sacrifice necessary to obtain those benefits

• delegation of authority to
• solve customers’ problems quickly—usually by the first person that the
• customer notifies regarding a problem

people giving up something to receive something they would rather have

• a philosophy that assumes that
• a sale does not depend on an aggressive sales force but rather on a
• customer’s decision to purchase product; it is synonymous with the
• marketing concept

• 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

• the idea that the social and
• economic justification for an organization’s existence is the
• satisfaction of customer wants and needs while meeting organizational
• objectives

a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace

a strategy that focuses on keeping and improving relationships with current customers

• the ideas that people will buy
• more goods and services if aggressive sales techniques are used and
• that high sales result in high profits

• the idea that an organization
• exists not only to satisfy customer wants and needs and to meet
• organizational objectives but also to preserve or enhance individuals’
• and society’s long–term best interests

collaborative efforts of people to accomplish common objectives