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| The process by which companies create value for customers and build strong cutomer relationships in order to capture value from customers in return. |
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| States of felt deprivation |
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| THe form human needs take as they are shapedby culture and individual personality |
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| Human wants that are backed up by buying power |
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| Some combination of products, services, information, or experiences offered to a market to satif a need or want |
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| The mistake of apaying more attention to the specific products a company offers than to the benefits and experiences produced by these products |
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| The act of obtaining a desired object from someone by offering something in return |
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| The set of all actual and potential buyers of a product or service |
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| The art and science of choosing target markets and building profitable relationships with them |
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| The idea that consumers will favor products that offer the most quality, performance, and features; there for, the organization should devote its energy to making continuous product improvements |
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| The idea that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promtion effort |
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| A philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitiors do. |
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| Societal marketing concept |
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| The idea that a companys marketing decisions should consider consumers' wants, the compnay's requirements, consumers' long - run interests, and society's long - run interests. |
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| Customer relationship management |
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| THe overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. |
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| The customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers. |
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| The extent to which a product's perceived performance matches a buyer's expectations |
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| Customer-managed relationships |
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| Marketing relationships in which customers, empowered by today's new digital technologies, interact with companies and with each other to shape their relationships with brands |
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| Customer-generated marketing |
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| Brand exchanges created by consumers themselves- both invited and univited- by which consumers are playing an increasing role in shaping their own brand experiences and those of other consumers |
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| Partner relationship management |
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| Working closely with partners in other company departmetns and outside the company to jointly bring greater value to customers. |
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| The value of the entire stream of purchases a customer makes over a lifetime of patronage |
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| THe portion of the customer's purchasing that a comany gets in tits product categories |
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| THe total combined customer lifetime values of all of the company's customers |
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| A vast public web of computer networks that connects users of all types all around the world to each other and to an amazingly large information repository |
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