chapter 10 Flashcards
Marketing
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers.
Utility
The ability of goods and services to satisfy wants
Marketing concept
a philosophy that makes customer satisfaction, now and in the future, the central focus
Unmatched value
being able to provide this to customers is the only way to long-term profitability
Customer Relationship management CRM
- value
- customer satisfaction
- Customer loyalty
Marketing plan
organizations may have a formal or informal plan that directs their efforts
Marketing segmentation
The target market
Consumer markets B2C
products for personal consumption
Business markets B2B
Products used directly or indirectly to produce other products
Consumer behaviour
how people act when they are buying products
