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Customer Experience
The internal response that customers have to all aspects of an organization and its offering.
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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.
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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.
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Environmental Forces
The uncontrillable forcrs in a marketibg decision involving social, economic, technological, competitive, and regulatory forces.
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Exchange
The trade of things of value between buyer and seller so that each is better off after the trade.
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Market
People with both the desire and the ability to buy a specific offering.
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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.
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Marketing
The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large.
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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.
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Marketing Mix
The marketing manager's controllable factors - product, price, place, and promotion - that can be used to solve a marketing problem.
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Marketing Program
A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
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Organizational Buyers
Those manufacturers, whole salers, retailers, and government agencies that buy goods and services for their own use or for resale.
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Relationship Marketing
Links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
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Societal Marketing Concept
The view that organizations should satisfy the needs of consumers in a way that provides for society's well being.
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Target Market
One or more specific groups of potential consumers toward which an organization directs its marketing program.
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Ultimate Consumers
The people who use the goals and services purchased for a household.
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Utility
The benefits or customer value received by users of the product.
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