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Chapter 1
Creating Customer Realtionships
17
Marketing
Undergraduate 2
10/21/2014

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Term
relationship marketing
Definition
linking organization to its individual customers, employees, supplies and other parners for thier mutural long term benefit
Term
customer value
Definition
buyer's benefits: quality, convenience, on time delivery, before and after service at a specific price.
Term
enviromental forces
Definition
uncontrollable social, economic, technologic, competive regulatry forces that affect results of market's design
Term
organizational buyers
Definition
manufactory, whole salers, retailer, government agencies that buy products and sercives for own use or resale.
Term
customer value proposition
Definition
cluster of benefits that an org. promises customers to satisfy their needs.
Term
utility
Definition
benefits or customer value recieved by users of product.
Term
ultimate consumer
Definition
people who use products and services purchase for a household
Term
marketing program
Definition
plan that integrates the marketing mix to provide a grood, service or an idea to prospective buyers
Term
marketing concept
Definition
idea that an org. should strive to satisfy the needs of consumers while also trying to achieve org. goals.
Term
merket orientation
Definition
focusing org. efforts to collect and use info about customer's needs to create customer value
Term
target market
Definition
one or more specific groups of potential consumers towards which an org. directs its marketing program
Term
marketing mix
Definition
controllable factors (product, price, place, promotion) that the marketing manager can use to solve a marketing problem
Term
exchange
Definition
trade of things of value btwn. a buying and seller where each side benefits.
Term
market
Definition
people with desire and ability to buy a specific offering
Term
product
Definition
a good, service or idea consising of a bundle of tangible and intangible attributes that satisfy consumers needs and is recived in exchange for money or something of value.
Term
marketing
Definition
the activity for creating and delivering ovverings that benefit the organization, its stakeholders and society.
Term
societal marketing concept
Definition
view that org. should satisfy needs of consumers in a way that also provides for society's well being.
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