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14 terms

marketing ch 10

STUDY
PLAY
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