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18 Cards in this Set
- Front
- Back
Customer Value
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The unique combination of benefits received by targeting buyers that includes quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
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Environmental Forces
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The uncontrollable social, economic, technological, competitive, and regulatory forces that affect the results of a marketing decision.
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Exchange
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The trade of things of value between buyer and seller so that each is better off after the trade.
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Market
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People with both the desire and the ability to buy a specific offering. All markets are ultimately people.
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Market Orientation
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focusing organizational effects to collect and use information about customers' needs to create customer value
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Marketing
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the activity for creating and delivering offerings that benefit the organization, its stakeholders, and society
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Marketing Concept
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the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals.
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Marketing Mix
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are the controllable factors - the marketing manager can use to solve a marketing problem. Called controllable factors because they are under control of the marketing department in an organization.
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Marketing Program
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a plan that integrates the marketing mix to provide a good, service, or idea to prospective buyers.
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Organizational Buyers
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are manufacturers, wholesalers, retailers, and government agencies that buy goods and services for their own use or for resale.
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Relationship Marketing
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Linking the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit. Involving a personal, ongoing relationship between the organization and its individual customers that begin before and continues after the sale.
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Societal Marketing Concept
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the view that organizations should satisfy the needs of consumers in a way that also provides for society's well-being.
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Target Market
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one or more specific groups of potential consumers toward which and organization directs its marketing program.
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Ultimate Consumers
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Are the people who use the goods and services purchased for a household.
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Utility
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the benefits or customer value received by users of the product
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Organization
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A legal entity that consists of people who share a common mission.
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Offerings
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Products, services, or ideas that create value for both the organization and its customers by satisfying their needs and wants
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Business Firm
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A privately owned organization such as Google or Nike that serves its customers to earn a profit so that it can survive
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