Buyers' benefits, including quality, convenience, on-time delivery, and before-and-after-sale service at a specific place.

customer value proposition

A cluster of benefits that an organization promises customers to satisfy their needs.

The uncontrollable social, economic, technological, competitive, and regulatory forces that affect the results of a marketing decision.

The trade of things of value between a buyer and a seller so that each is better off.

People with both the desire and the ability to buy a specific offering.

Focusing organizational efforts to collect and use information about the customers' needs to create customer value.

The activity for creating and delivering offerings that benefit the organization, its stakeholders, and society.

The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.

The controllable factors--product, price, promotion, and place--that the marketing manager can use to solve a marketing problem.

A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.

organizational buyers

Manufacturers, wholesalers, retailers, and government agencies that buy products and services for their own use or for resale.

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies the consumers' needs and is received in exchange for something else of value.

relationship marketing

Linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.

societal marketing concept

The view that organizations should satisfy the needs of consumers in a way that also provides for society's well-being.

One or more specific groups of potential consumers toward which an organization directs its marketing program.

The people who use the products and services purchased for a household.

The benefits or customer value received by users of the product.

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MP Chapter 1

Creating Customer Relationships & Value Through Marketing

Term	Definition
customer value	Buyers' benefits, including quality, convenience, on-time delivery, and before-and-after-sale service at a specific place.
customer value proposition	A cluster of benefits that an organization promises customers to satisfy their needs.
environmental forces	The uncontrollable social, economic, technological, competitive, and regulatory forces that affect the results of a marketing decision.
exchange	The trade of things of value between a buyer and a seller so that each is better off.
market	People with both the desire and the ability to buy a specific offering.
market orientation	Focusing organizational efforts to collect and use information about the customers' needs to create customer value.
marketing	The activity for creating and delivering offerings that benefit the organization, its stakeholders, and society.
marketing concept	The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.
marketing mix	The controllable factors--product, price, promotion, and place--that the marketing manager can use to solve a marketing problem.
marketing program	A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
organizational buyers	Manufacturers, wholesalers, retailers, and government agencies that buy products and services for their own use or for resale.
product	A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies the consumers' needs and is received in exchange for something else of value.
relationship marketing	Linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit.
societal marketing concept	The view that organizations should satisfy the needs of consumers in a way that also provides for society's well-being.
target market	One or more specific groups of potential consumers toward which an organization directs its marketing program.
ultimate consumers	The people who use the products and services purchased for a household.
utility	The benefits or customer value received by users of the product.

Created by: mariwalsh

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