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Chapter 12: Customer-Driven Marketing
Terms in this set (32)
marketing effort sponsored by an organization that solicits involvement by individuals who share common interests and activities.
activities and technologies for gathering, storing, and analyzing data to make better competitive decisions.
Business (B2B) product
good or service purchased to be used, either directly or indirectly, in the production of other goods for resale.
marketing that promotes a cause or social issue, such as preventing child abuse, antilittering efforts, and stop-smoking campaigns.
cooperative arrangement in which two or more businesses team up to closely link their names on a single product.
actions of ultimate consumers directly involved in obtaining, consuming, and disposing of products and the decision processes that precede and follow these actions.
Consumer (B2C) product
good or service that is purchased by end users.
computer searches of customer data to detect patterns and relationships.
customer database that allows managers to combine data from several different organizational functions.
dividing markets on the basis of various demographic or socioeconomic characteristics such as gender, age, income, occupation, household size, stage in family life cycle, education, or ethnic group.
marketing strategy that focuses on the precise way B2B purchaser will use a product.
marketing or sponsoring short-term events such as athletic competitions and cultural and charitable performances.
activity in which two or more parties give something of value to each other to satisfy perceived needs.
marketing initiative that rewards frequent purchases with cash, rebates, merchandise, or other premiums.
dividing an overall market into homogeneous groups on the basis of their locations.
Lifetime value of a customer
revenues and intangible benefits (referrrals and customer feedback) from a customer over the life of the relationship, minus the amount the company must spend to acquire and serve that customer.
organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.
company-wide consumer orientation to promote long-run success.
blending the four elements of marketing strategy--product, distribution, promotion, and pricing--to satisfy chosen customer segments.
collecting and evaluating information to support marketing decision making.
process of dividing a total market into several relatively homogeneous groups.
marketing strategy that influences consumers to accept the goals of, receive the services of, or contribute in some way to an organization.
orderly transfer of goods and services from the seller to the buyer; also called possession utility.
use of efforts designed to attract the attention, interest, and preference of a target market toward a person.
attempt to attract people to a particular area, such as a city, state, or nation.
availability of a product in a location convenient for customers
dividing consumer markets into groups based on benefits sought by buyers and usage rates.
dividing consumer markets into groups with similar attitudes, values, and lifestyles.
group of people toward whom an organization markets its goods, services, or ideas with a strategy designed to satisfy their specific needs and preferences.
availability of a good or service when customers want to purchase it.
want-satisfying power of a good or service.
developing and maintaining long-term, cost-effective exchange relationships with partners.
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