Business 100 chapter 11 part 1

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Anonymous
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147839
Filename:
Business 100 chapter 11 part 1
Updated:
2012-04-15 21:41:56
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Business 100 chapter 11 part
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Business 100 chapter 11 part 1
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  1. marketing
    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
  2. relationship marketing
    establishing long-term, mutually satisfying buyer-seller relationships
  3. customer relationship management
    using information about customers to create marketing strategies that develop and sustain desireable customer relationships
  4. customer lifetime value
    a combination of purchase frequency, average valueof purchases, and brand-switching patterns over the entire span of a customer's relationship with a company
  5. utility
    the ability of a good or service to satisfy a human need
  6. form utility
    utility created by people converting raw materials, finances, and information into finished products
  7. place utility
    utility created by making a product avalible at a location where customers wish to purchase it
  8. time utility
    utility created by making a product avalible when a customer whshes to purchase it
  9. posession utility
    utility created by transfering title (or ownership) of a product to a buyer
  10. marketing concept
    a business pbilosophy that a firm should provide goods and services that satisfy customers needs through a coordinated set of activites that alows the firm to achieve its objectives

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