Marketing ch 14

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Marketing ch 14
2012-09-09 18:37:42
14 Customer Satisfaction Loyalty Empowerment

key terms
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  1. CAN-SPAMAct
    A law that prohibits the use of e-mail, fax, and other technology to randomly send messages to potential consumers.
  2. Gramm-Leach-Bliley Act
    A legal act that requires certain institutions to provide written notice of their privacy policies.
  3. SPAM
    Any unwanted commercial e-mail similar to junk mail.
  4. Uniform Commercial Code (UCC)
    A group of laws that govern commercial practices in the United States.
  5. accelerator effect
    The effect of a loyalty program that, as a consumer approaches the next level of benefits, the rate of consumer’s purchases increases.
  6. attitudinal loyalty
    The degree to which a customer prefers or likes a brand.
  7. behavioral loyalty
    The degree to which a customer habitually buys a product and does not respond to competitors’ offerings.
  8. blocker effect
    A loyalty program that results in members blocking out marketing communications from competitors.
  9. bot
    Short for robot; a kind of program that perform automatic functions online.
  10. buzz
    Word of mouth that includes blogs, articles, and other forms of promotion.
  11. cause-related marketing
    When a company supports a nonprofit organization in some way in order to generate positive public relations.
  12. communication gap
    A gap that occurs when a marketer overstates the performance level of a product, thereby creating unrealistic expectations on the part of consumers.
  13. community
    A form of a social group that centers its attention around a particular brand or product category.
  14. cross-promotion marketing
    A method in which two or more groups act together to reach potential customers.
  15. customer empowerment
    Providing tools that enable customers to take control or influence marketing.
  16. customer satisfaction
    The feeling that results when an offering meets a consumer’s expectations.
  17. deal-prone
    Willing to succumb to a special offer or lower price.
  18. delivery gap
    A gap that results when a product fails to meet its performance standards.
  19. dump account
    An e-mail account that is used for registering when buying products online in order to ignore spam and other junk e-mail later.
  20. expressed warranty
    An oral or written statement by the seller regarding how a product should perform and the remedies available to the consumer in the event of its failure.
  21. implied warranty
    An obligation for a seller to provide an offering of at least average quality, beyond any written statements.
  22. influencer marketing
    Targeting individuals known to influence others so they will use their influence in the marketer’s favor.
  23. influencer panel
    A special type of community that participates regularly in marketing research activities.
  24. knowledge gap
    A firm’s failure to understand a customer’s expectations or needs, which then leads it to create an offering that disappoints the customer.
  25. longevity effect
    The process of lengthening the a customer’s lifetime value over time.
  26. loyalty programs
    Marketing efforts that reward the frequent purchase and consumption of an offering.
  27. phishing
    Soliciting personal information in order to steal an identity and use it to generate cash fraudulently.
  28. postpurchase dissonance
    A situation in which consumers rethink their decisions after purchasing products and wonder if they made the best decision.
  29. privacy laws
    Laws that limit the amount and type of information a company can collect about a consumer and also specify how that information can be used or shared.
  30. privacy policies
    Statements about how a company will use and protect a consumer’s private data.
  31. social media
    A catchall phrase for online channels of communication that build communities including social networking sites, blogs, podcasts, wikis, vlogs (video blogs), and other Internet-based applications that enable consumers to contribute content.
  32. social network
    A community or social group that centers its attention on a particular brand or product category.
  33. social networking site
    A communication medium for communities, or social networks.
  34. spreader effect
    A loyalty program that results in buyers being more likely to try related products offered by a marketer.
  35. standards gap
    A gap that results when a marketer sets performance standards for a product that are too low, in spite of what is known about the customer’s requirements.
  36. sugging
    Any form of selling under another guise or under a phony front.
  37. switching costs
    The costs associated with moving to a new supplier of an offering.
  38. viral marketing
    The spread of the company’s message (like a virus) through a community.
  39. warranty
    A promise or assurance by a seller that an offering will perform as the seller represented it would.
  40. word of mouth
    The passing of information and opinions verbally.