the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

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

consists of people with both the desire and the ability to buy a specific offering.

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

consists of the controllable factors—product, price, promotion, and place—that can be used by the marketing manager to solve a marketing problem.

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

the unique combination of benefits received by targeted buyers that include quality, convenience, on-time delivery, and both before- sale and after-sale service at a specific price.

Relationship Marketing

links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit. A marketing program is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers

are the relatively homogeneous groups of prospective buyers that (1) have common needs and (2) will respond similarly to a Marketing action.

Customer relationship management (CRM)

process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will Choose them in the marketplace and become advocates after their purchase.

is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers’ needs and is received in exchange for money or something else of value.

consist of the people who use the products and services purchased for a household. Also called consumers, buyers, or customers.

are those manufacturers, wholesalers, retailers, service companies, nonprofit organizations, and government agencies that buy products and services for their own use or for resale.

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

Societal Marketing Concept

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

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Marketing

Chapters 1 study words

Term	Definition
Marketing	the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Exchange	the trade of things of value between a buyer and a seller so that each is better off after the trade.
Market	consists of people with both the desire and the ability to buy a specific offering.
Target Market	consists of one or more specific groups of potential consumers toward which an organization directs its marketing program.
Marketing Mix	consists of the controllable factors—product, price, promotion, and place—that can be used by the marketing manager to solve a marketing problem.
Environmental Forces	the uncontrollable forces that affect a marketing decision and consist of social, economic, technological, competitive, and regulatory forces.
Customer Value	the unique combination of benefits received by targeted buyers that include quality, convenience, on-time delivery, and both before- sale and after-sale service at a specific price.
Relationship Marketing	links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit. A marketing program is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers
Market segments	are the relatively homogeneous groups of prospective buyers that (1) have common needs and (2) will respond similarly to a Marketing action.
Customer relationship management (CRM)	process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will Choose them in the marketplace and become advocates after their purchase.
Product	is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers’ needs and is received in exchange for money or something else of value.
Ultimate Consumers	consist of the people who use the products and services purchased for a household. Also called consumers, buyers, or customers.
Organizational buyer	are those manufacturers, wholesalers, retailers, service companies, nonprofit organizations, and government agencies that buy products and services for their own use or for resale.
Marketing Program	a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
Societal Marketing Concept	is the view that organizations should satisfy the needs of consumers in a way that provides for society’s well-being.

Created by: user-2024951

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