Term
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Term
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Definition
| the provision or transfer of goods, services, or ideas in return for something of value |
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Definition
| constituents who have a stake, or claim, in some aspect of a company's products, operations, markets, industry, and outcomes |
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Definition
| the competitive, economic, political, legal and regulatory, technological, and sociocultural forces that surround the customer and affect the marketing mix |
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Definition
| a philosophy that an organization should try to provide products that satisfy customer's needs through a coordinated set of activities that also allows the organization to achieve its goals |
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| an organization-wide commitment to researching and responding to customer needs |
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| establishing long-term, mutually satisfying buyer-seller relationships |
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| Customer-Centric Marketing |
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Definition
| developing collaborative relationships with customers based on focusing on their individual needs and concerns |
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| Customer Relationship Management (CRM) |
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Definition
| using information about customers to create marketing strategies that develop and sustain desirable customer relationships |
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| a customer's subjective assessment of benefits relative to costs in determining the worth of a product |
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| the process of planning, organizing, implementing, and controlling marketing activities to facilitate exchanges effectively and efficiently |
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Definition
| a strategic process involving stakeholder assessment to create meaningful long-term relationships with customers while maintaining, supporting, and enhancing the natural environment |
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Definition
| the process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic envrionment |
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| he purchasers of organizations' products; the focal point of all marketing elements |
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Definition
| the group of customers on which marketing efforts are focused |
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Definition
| four marketing elements - product, distribution, promotion, and pricing - that a firm can control to meet the needs of customers within its target markets |
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