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business buying behavior
the purchasing of products by producers, resellers, governmental units, and institutions
consumer buying behavior
the purchasing of products for personal or household use, not for business purposes
customer lifetime value
a combination of purchase frequency, average value of purchases, and brand-switching patterns over the entire span of a customer's relationship with a company
customer relationship management (CRM)
using information about customers to create marketing strategies that develop and sustain desirable customer relationships
a group of individuals or organizations, or both, that need products in a given category and that have the ability, willingness, and authority to purchase such products
a group of individuals or organizations within a market that shares one or more common characteristics
the process of dividing a market into segments and directing a marketing mix at a particular segment or segments rather than at the total market
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
a business philosophy that a firm should provide goods and services that satisfy customers' needs through a coordinated set of activities that allows the firm to achieve its objectives
marketing information system
a system for managing marketing information that is gathered continually from internal and external sources
a combination of product, price, distribution, and promotion developed to satisfy a particular target market
a written document that specifies an organization's resources, objectives, strategy, and implementation and control efforts to be used in marketing a specific product or product group
the process of systematically gathering, recording, and analyzing data concerning a particular marketing problem
a plan that will enable an organization to make the best use of its resources and advantages to meet its objectives
the income an individual receives from all sources less the Social Security taxes the individual must pay
utility created by making a product available at a location where customers wish to purchase it
an estimate of the amount of a product that an organization expects to sell during a certain period of time based on a specified level of marketing effort
a group of individuals or organizations, or both, for which a firm develops and maintains a marketing mix suitable for the specific needs and preferences of that group
directing a single marketing mix at the entire market for a particular product
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