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Definition
| The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return |
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Definition
| States of felt deprivations |
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Definition
| The form human needs take as they are shaped by culture and individual personality |
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Definition
| Human wants that are backed up by buying power |
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Definition
| Some combination of products, services, information, or experiences offered to a market to satisfy a need or want |
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Definition
| The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products |
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Definition
| The act of obtaining a desired object from someone by offering something in return |
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Definition
| The set of all actual and potential buyers of a product or service |
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Definition
| The art and science of choosing target markets and building profitable relationships with them |
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Definition
| The idea that consumers will favor products that are available and highly affordable; therefore, the organization should focus on improving production and distribution efficiency |
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Definition
| The idea that consumers will favor products that offer the most quality, performance, and features; therefore, the organization should devote its energy to making continuous product improvements |
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Definition
| The idea that consumers will not buy enough of the firm's products unless the firm undertakes a large-scale selling and promotion effort |
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Definition
| A philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do. |
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| Societal marketing concept |
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Definition
| The idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long run interests, and society's long-run interests |
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Term
| Customer relationship management |
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Definition
| The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction |
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Term
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Definition
| 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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Term
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Definition
| The extent to which a product's perceived performance matches a buyer's expectations |
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Term
| Customer-managed relationships |
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Definition
| 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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Term
| Consumer-generated marketing |
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Definition
| Brand exchanges created by consumers themselves-both invited and and uninvited-by which consumers are playing an increasing role in shaping their own brand experiences and those of other consumers. |
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Term
| Partner relationship management |
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Definition
| Working closely with partners in other company departments and outside the company to jointly bring greater value to customers. |
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Term
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Definition
| The value of the entire stream of purchases a customer makes over a lifetime of patronage |
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Term
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Definition
| The portion of the customer's purchasing that a company gets in its product categories |
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Term
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Definition
| The total combined customer lifetime values of all of the company's customers |
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