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2010-08-25 18:59:17
Chapter One

Creating customer relationships and value through marketing
Show Answers:

  1. it is an organizational function and a 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.
    AMA Definition of Marketing
  2. it is the trade of things of value between buyer and seller so that each is better off after the trade
  3. it consists of people with both the desire and ability to buy a specific product
  4. consists of one or more specific groups of potential customers toward which an organization directs its marketing program.
    Target Market
  5. consists of the marketing manager's controllable factors - product, price, promotion, and place (the 4Ps) - that can be used to solve a marketing problem
    The Marketing Mix
  6. Are the uncontrollable factors involving social, economic, technological, competitive, and regulatory forces.
    Enviornmental Forces
  7. is the unique combination of benefits received by targeted buyers that includes quality, price, convenience, on-time delivery, and both before-sale and after-sale service.
    Customer Value
  8. links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
    Relationship Marketing
  9. is a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers
    Marketing Program
  10. is the idea that an organization shoud 1) strive to satisfy the needs of consumers 2) while also trying to achieve the organization's goals.
    Marketing Concept
  11. An organization that has a ______focuses its efforts on 1) continuously collecting information about customers' needs, 2) sharing this information across departments, and 3) using it to create customer value.
    Market Orientation
  12. is the view that an organization should satisfy the needs of consumers in a way that provides for society's well-being.
    Societal Marketing Concept
  13. they are the people who use the goods and services purchased for a household.
    Ultimate Consumers
  14. Are those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
    Organizational Buyers
  15. Is the benefits or customer value received by users of the product