MKT Ch 1.txt

  1. Customer Experience
    The internal response that customers have to all aspects of an organization and its offering.
  2. Customer Relationship Management
    The process of udentifying prospextive buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
  3. Customer Value
    The unique combination of benefits received by targeted buyers that includes quality, convience, on-time delivery, and both before-sale and after-sale service at a specific price.
  4. Environmental Forces
    The uncontrillable forcrs in a marketibg decision involving social, economic, technological, competitive, and regulatory forces.
  5. Exchange
    The trade of things of value between buyer and seller so that each is better off after the trade.
  6. Market
    People with both the desire and the ability to buy a specific offering.
  7. Market Orientation
    An organization the focuses its efforts on (1) continuously collecting information about customers needs (2) sharing this informatiob across departments, and (3) using it to create customer value.
  8. Marketing
    The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large.
  9. Marketing Concept
    The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
  10. Marketing Mix
    The marketing manager's controllable factors - product, price, place, and promotion - that can be used to solve a marketing problem.
  11. Marketing Program
    A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
  12. Organizational Buyers
    Those manufacturers, whole salers, retailers, and government agencies that buy goods and services for their own use or for resale.
  13. Relationship Marketing
    Links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
  14. Societal Marketing Concept
    The view that organizations should satisfy the needs of consumers in a way that provides for society's well being.
  15. Target Market
    One or more specific groups of potential consumers toward which an organization directs its marketing program.
  16. Ultimate Consumers
    The people who use the goals and services purchased for a household.
  17. Utility
    The benefits or customer value received by users of the product.
Card Set
MKT Ch 1.txt
Test #1