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| process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create and maintain customer relationships |
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| efforts a company makes to help them realize the greatest possible value from the products they are purchasing |
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| marketing efforts to attract people to a particular geographical area |
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| identification and marketing of a social issue, cause, or idea to selected target markets |
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| difference between a person’s state and his or her ideal state; provides the basic motivation to make a purchase |
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| good, service, experience, or other entities that are desirable in light of a person’s experiences, culture, and personality |
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| means to purchase a product that you want |
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| created when you have buying power |
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| act of obtaining a desired object or service from another party by offering something of value in return |
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| power of a good or service to satisfy a human need |
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| customer value created by converting raw materials and other inputs into finished goods and services |
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| customer value added by making a product available at a convenient time |
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| customer value added by making a product available in a convenient location |
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| customer value created when someone takes ownership of a product |
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| approach business management that stresses customer needs and wants, and seeks long-term profitability, and integrates marketing with other functional units within the organization |
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| customer-forced companies |
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| build their marketing strategies around the goal of the long-term relationships with satisfied customers |
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| a focus on developing and maintaining long-term relationships with customers, suppliers, and distribution partners for mutual-benefit |
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| degree to which customers continue to buy from a particular retailer or buy the products of a particular manufacturer or service provider |
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| permission based marketing |
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| marketing approach in which firms first ask permission to deliver messages to an audience and then promise to restrict their communication efforts to those subject areas in which audience members have expressed interest |
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| giving customers something of value in exchange for the opportunity to present promotional information |
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| give readers valuable information that they can use in running their businesses |
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| the delivery of marketing messages to people who are not aware that they are being marketed to; these messages can be delivered either by acquaintances or strangers depending on the technique |
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| individuals or households that buy goods and services for personal use |
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| businesses, nonprofit organizations, and government agencies that purchase goods and services for their operations |
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| behavior exhibited by consumers as they consider, select, and purchase goods and services |
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| tension that exists when a person’s beliefs don’t match his or her behaviors; a common example is buyer’s remorse |
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| when someone regrets a purchase after making it |
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| provide information about product choices and establish values that individual consumers perceive as important |
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| membership reference groups |
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| those to which customers belong, such as families, networks of friends, sports teams, clubs, and work groups |
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| efforts to present products to groups products to groups that are organized around a specific lifestyle element, such as skateboarding, motorcycling, etc. |
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| used as a role model for style, speech, opinions, and other various behaviors, such as wearing hip hop style clothing or logo of your favorite sports team |
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| the collection and analysis of information for making marketing decisions |
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| videotaping shoppers so that researchers can study movements and behaviors throughout a store |
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| process of building, maintaining, and using customer databases for the purpose of contacting customers and transacting business |
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| strategic marketing planning |
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| the process of examining an organization’s current marketing situation, assessing opportunities and setting objectives, then developing a marketing strategy to reach those objectives |
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| a firm’s portion of total sales in a market |
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| overall plan for marketing a product; includes target market segments, position strategy, and a marketing mix |
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| a group of customers who need or want a particular product and have the money to buy it |
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| division of a diverse market into smaller, relatively homogeneous groups with similar needs, wants, and behaviors |
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| study of statistical characteristics of population |
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| categorization of customers according to their geographical location |
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| classification of customer on the basis of their psychological makeup |
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| method of combining geographical data with demographic data to develop profiles of neighborhood segments |
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| categorization of customers according to their relationship with products or response to product characteristics |
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| specific customer groups or segments to whom a company wants to sell a particular product |
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| undifferenciated marketing (mass marketing) |
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| ignore differences among buyers and offer only one product or product line to satisfy entire market |
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| manufacture or sell a variety of products to several target customer groups |
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| acknowledge that various other market segments exist but you choose to target just one |
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| using promotion, product, distribution, and price to differentiate a good or service from those of competitors in the mind of the prospective buyer |
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| the four key elements of marketing strategy: product, price, distribution, and promotion |
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| good or service used as basis of commerce |
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| the amount of money charged for a product or service |
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| systems for moving goods and services from producers to customers |
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| wide variety of persuasive techniques used by companies to communicate with their target markets |
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