Midterm 1 Book Study Cards Flashcards
1
Q
Customer lifetime value
A
The value of the entire stream of purchases a customer makes over a lifetime of patronage
2
Q
Marketing
A
The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return.
3
Q
The core marketplace concepts
A
1) Needs, wants, & demands
2) Market offerings (products, services, and experiences)
3) Value and satisfaction
4) Exchanges and relationships
5) Markets
4
Q
Market offerings
A
Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
5
Q
Target marketing
A
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6
Q
Market Segmentation
A
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