Term
|
Definition
| The process of planning and executing the conception, pricing, promotion and distribution of goods and services to facilitate exchanges that satisfy individual and organizational objectives. |
|
|
Term
|
Definition
| A three-part business philosophy: (1) a customer orientation, (2) a service orientation, and (3) a profit orientation. |
|
|
Term
| customer relationship management (CRM) |
|
Definition
| The process of learning as much as possible about customers and doing everything you can to satisfy them-or even exceed their expectations-with goods and services over time. |
|
|
Term
|
Definition
| The ingredients that go into a marketing program; product, price, place, and promotion. |
|
|
Term
|
Definition
| Any physical good, service, or idea that satisfies a want or need plus anything that would enhance the product in the eyes of consumers, such as the brand. |
|
|
Term
|
Definition
| The process of testing products among potential users. |
|
|
Term
|
Definition
| A word, letter, or group of words or letters that differentiates one seller's goods and services from those of competitors. |
|
|
Term
|
Definition
| All the techniques sellers use to motivate people to buy their products or services. |
|
|
Term
|
Definition
| The analysis of markets to determine opportunities and challenges and to find the information needed to make good decisions. |
|
|
Term
|
Definition
| Information that has already been compiled by others and published in journals and books or made available online. |
|
|
Term
|
Definition
| Data that you gather yourself (not from secondary sources such as books and magazines). |
|
|
Term
|
Definition
| A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues. |
|
|
Term
|
Definition
| The process of identifying the factors that can affect marketing success. |
|
|
Term
|
Definition
| All the individuals or households that want goods and services for personal consumption or use. |
|
|
Term
| business-to-business (B2B) market |
|
Definition
| All the individuals and organizations that want goods and services to use in producing other goods and services or to sell, rent, or supply goods to others. |
|
|
Term
|
Definition
| The process of dividing the total market into groups whose members have similar characteristics. |
|
|
Term
|
Definition
| Marketing directed toward those groups (market segments) an organization decides it can serve profitably. |
|
|
Term
|
Definition
| Dividing the market by geographic area. |
|
|
Term
|
Definition
| Dividing the market by age, income, and education level. |
|
|
Term
| psychographic segmentation |
|
Definition
| Dividing the market using the group's values, attitudes, and interests. |
|
|
Term
|
Definition
| Dividing the market by determining which benefits of the product to talk about. |
|
|
Term
| volume, or usage, segmentation |
|
Definition
| Dividing the market by usage (volume of use). |
|
|
Term
|
Definition
| The process of finding small but profitable market segments and designing or finding products for them. |
|
|
Term
|
Definition
| Developing a unique mix of goods and services for each individual customer. |
|
|
Term
|
Definition
| Developing products and promotions to please large groups of people. |
|
|
Term
|
Definition
| Marketing strategy with the goal of keeping individual customers over time by offering them products the exactly meet their requirements. |
|
|
