Card Set Information

2011-05-22 06:06:07

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  1. Value
    The benefits a customer recieves from buying a good or service
  2. Marketing
    The activity, set of institiutions, and processes for creating, communicating, delivering and exchanging offerings that have value for the customers, clients, partners, and society at large.
  3. Stockholders
    Buyers, sellers, or investors in a company, community residents, and even citizens of the nations where goods and servises are made or sold- in other words, any person or organization that has a "stake" in the outcome.
  4. Consumer
    The ultimate user of a good or service
  5. Marketing concept
    A management orientation that focuses on identifying and satifying consumer needs to ensure the organization's long-term profitability.
  6. Need
    The recognition of any difference between a consumer's actual state and some ideal or desire state.
  7. Want
    The desire to satisfy needs in specific ways that are culturally and socially influenced.
  8. Benefit
    The outcome sought by a customer that motivates buying behavior- that satisfies a need or want.
  9. Demand
    Customers' desire for products coupled with the resources needed to obtain them.
  10. Market
    All the customers and potential customers who share a common need that can be satisfied by a specific product, who have the resources to exchange for it, who are willing to make the exchange, and who have the authority to make the exchange.
  11. Marketplace
    Any location or medium to conduct an exchange
  12. Utility
    The usefulness or benefit consumers recieve from a product
  13. Exchange
    The process by which some transfer of value occurs between a buyer and a seller