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| organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders |
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| art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value |
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| descriptive characteristics of a population |
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| refers to aspects of a person's lifestyle and personatlity |
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| sometimes online, where members share opinions and recommendations about products or services |
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| Market Segmentation Strategies |
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| targeting a brand only to specific groups of consumers rather than to everybody |
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| the study of processes involved when individuals or groups select, purchase, use or dispose of products, services, ideas, or experiences to satisfy needs and desires |
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| a transaction in which two or more organizations or people give and receive something of value, integral part of marketing |
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| a person who identifies a need or desire, makes a purchase, and then disposes of the product during the three stages in the consumption process |
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| 20 percent of users account for 80 percent of sales |
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| when marketers interact with customers on a regular basis and give them reasons to maintain a bond with the company over time |
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| involves tracking specific consumer buying habits very closely and crafting products and messages tailored precisely to peoples wants and needs based on this information |
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| the view that much of consumer behavior resembles actions in a play |
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| where people are united around the world by their common devotion to brand-name consumer goods, movie stars, celebrities, and leisure activities |
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| contains a computer chip and a tiny antenna that lets the chip communicate with a network, usually embedded in products |
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| use of ubiquitous networks that will slowly but surely become a part of us - - hey, you're walking by mcdonalds, cone on in for today's burger special -- |
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| directed to specific objects that might satisfy the need |
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| wants for specific products backed by an ability to pay |
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| identify and profile distinct groups of buyers examining demographic, psychographic, and behavioral differences |
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| what the offering means in the minds of the target buyers as delivering some central benefit(s) |
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| a set of benefits offered to satisfy customers' needs |
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| a combination of products, services, information, and experiences |
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| an offering from a known source |
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| sum of perceived tangible and intangible benefit and costs to customers |
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| a person's comparative judgement of a product's perceived performance (or outcome) in relation to expectation |
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| Transformative Consumer Research (TCR) |
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| promotes research projects that include the goal of helping people or bringing about social change |
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| people who are used or exploited, willingly or not, for commercial gain in the marketplace |
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- Premise: consumers prefer products that are widely available and inexpensive
- Focus on:
- High Production efficiency
- Low costs
- Mass Distribution
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Premise: consumers favor products offering the most quality, performance or innovative features
Focus on:
- Marketing superior products
- improving them over time
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Premise: customers, if left alone, will not buy enough of the organization's products
Focus on:
- aggressive selling and promotion efforts
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Definition
Premise: find the right product for your customers
Focus on:
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| Holistic Marketing Concept |
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Premise: "everything matters" with marketing
Focus on:
- relationship marketing
- integrated marketing
- internal marketing
- performance marketing
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| The Four P's of Marketing |
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Definition
product
price
place
promotion |
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| ensures that everyone in the organization embraces appropriate marketing principles, especially senior management |
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Brand Relationship Types:
Self-Concept Attachment |
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| Establish the user's identity |
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Brand Relationship Types:
Nostalgic Attachment |
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| Serves as a link with a past self |
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Brand Relationship Types:
Interdependence |
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| product part of the user's daily routine |
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Brand Relationship Types:
Love |
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| product elicits emotional bonds of warmth, passion or other strong emotion |
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Definition
- problem recognition & search for information
- judgments and decisions
- post-decision evaluations
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