marketing ch 10

Created by bpdance 

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transaction-based marketing

buyer and seller exchanges characterized by limited communications and little or no ongoing relationship between parties

relationship marketing

development and maintenance of long-term, cost-effective relationships with individual customers, suppliers, employees and other partners for mutual benefit

external customers

people or organizations that buy or use a firm's g/s

internal customers

employees or departments within the organization whose success depends on the work of other employees or departments

focus on price

level one of relationship marketing continuum

social interactions

level two of relationship marketing continuum

interdependent partnership

level three of relationship marketing continuum

frequency marketing

frequent buyer or user marketing programs that reward customers with cash, rebates, merchandise, or other premiums

affinity marketing

marketing effort sponsored by an organization that solicits response from individuals who share common interests and activities

database marketing

use of software to analyze marketing information, identifying and targeting messages toward specific groups of potential customers

one-to-one marketing

program that is customized to build long-term relationships with customers, one at a time

grassroots marketing

involves connecting directly with existing potential customers through nonmainstream channels

viral marketing

firms let satisfied customers get the word about products out to other customers- like spreading a virus

customer relationship management

combination of strategies and tools that drives relationship programs, reorienting the entire organization to a concentrated focus on satisfying customers

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