customer experience
The internal response that customers have to all aspects of an organization and its offerings.
customer relationship management
The process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace.
customer value
The unique combination of benefits received by targeted buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
environmental forces
The uncontrollable forces in a marketing decision involving social, economic, technological, competitive and regulatory forces.
exchange
The trade of things of value between buyer and seller so that each is better off after the trade.
market
People with both the desire and the to buy a specific offering.
market orientation
An organization that 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.
marketing
The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large.
marketing concept
The idea that an organization should (1) strive to satisfy the needs of consumers (2) while also trying to achieve the organization's goals.
marketing mix
The marketing manager's controllable factors-- product, price, promotion, and place -- that can be used to solve a marketing problem.
marketing program
A plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
organizational buyers
Those manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
relationship marketing
Links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
societal marketing concept
The view that organizations should satisfy the needs of consumers in a way that provides for society's well-being.
target market
one or more specific groups of potential consumers toward which an organization directs its marketing program.
ultimate consumers
The people who use the goods and services purchased for a household. Also called consumers, buyers, or customers.
utility
The benefits or customer value received by users of the product.