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Mktg 1030 Ch 1

Vocab Chap 1

QuestionAnswer
marketing processes for creating, capturing and delivering offerings that have value for customers.
marketing plan a timetable outlining specific marekting activities for a specified period of time.
exchange the trade of things of value between buyer and seller.
marketing mix set of marketing activities, viz., product, price, place and promotion.
goods tangible items
services intangible customer benefits produced by people or machines
ideas opinions, programs, and philosophies requiring promotion.
biz to consumer marketing process of selling merchandise or services from one business to another.
Biz to Biz marketing processing of selling merchandise from one business to another.
C 2 C marketing Selling products from one customer to another.
value relationship of benefits to cost or what ou get for what you pay
value cocreation customers act as collaborators to add value to product
transactional orientation focusing on a series of individual transactions, like selling used cars
relational orientation focusing on developing a long-term relationship with the customer
customer relationship management programs and systems that build loyalty among most valued customers.
supply chain group of firms that make and deliver products and services to retailer or customer
entrepreneur people who organize, operate and assume risk of a business.
Created by: lrowe
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