Customer value (customer perceived value)
is the difference between the benefits a customer receives and the total cost incurred from acquiring, using, and disposing of a product.
At the most basic level, buyers make a purchase decision based on the value they perceive a product will deliver. Buy
Value map
A graphical representation of the ratio between customers' perceived benefits and the perceived total cost of a product.
Fair value zone
The zone on a value map where customers' perceived benefits equal the customers' perceived cost.
Customer satisfaction
is the degree to which a product meets or exceeds customer expectations
The emotional experience a customer has with a purchase or service experience will fall within one of three categories--positive, negative, or neutral. A negative feeling, or dissatis
Customer loyalty
The degree to which a customer will select a particular brand when a purchase from that product category is being considered
Customer lifetime value
The present value of all profits expected to be earned from a customer over the lifetime of their relationship with a company.
Relationship marketing
is the process of developing and enhancing long-term relationships with profitable customers.
Successful companies focus their marketing efforts on the building of long-term, mutually-beneficial relationships with profitable or potentially profitable cust
Customer Relationship Management (CRM)
is comprised of the activities that are used to establish, develop, and maintain customer sales.
Customer relationship management (CRM) seeks to ensure that every effort an organization undertakes has as its purpose the development and maintenance of a pr
Data Mining
The statistical analysis of large databases seeking to discover hidden pieces of information.
Consumer behavior
is the dynamic interaction of affect and cognition, behavior, and the environment in which humans purchase products.
Consumer behavior is the psychology of marketing. It includes the process of how consumer decisions are made.
Consumers have many choices
Consumer Decision-making Process
is the steps that consumers take to identify and evaluate choice options.
The consumer decision making process can be one of high- or low-involvement. Decision making, influenced by involvement, is a problem-solving process that requires a particular type
Consumer Problem Solving
is how someone comes to a conclusion about a purchase situation. This is determined by what kind of decision the consumer is facing.
Consumer problem solving can be classified into three categories:
Limited problem solving
Significant problem solving
Rout
Consumer insight
is perceived meanings of data collected from the study of consumer behavior.
Consumer insight includes a broad range of both quantitative and qualitative information about consumer behavior. Insights are far more important that mere information -- insight
Marketing Research
is the acquisition and analysis of information used to identify and define marketing opportunities that connect consumers to marketers.
Marketing research is classified into "applied" and "pure". Applied research seeks to answer specific questions for the
A Marketing Information System
is a series of steps that include collection, analysis, and presentation of information for use in making marketing decisions.
Consumer problem solving can be classified into three categories:
Limited problem solving
Significant problem solving
Routine re