marketing ch 10
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14 terms
Terms | Definitions |
|---|---|
 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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