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Principles of Marketing Chapter 1 Vocabulary 18th edition with Complete Solutions
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Principles of Marketing Chapter 1 Vocabulary 18th edition with Complete Solutions
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Principles of Marketing Chapter 1 Vocabulary18th edition with Complete Solutions
Consumer-generated marketing - ANSWER-Brand exchanges created by consumers
themselves - both invited and uninvited - by which consumers are playing an increasing
role in shaping their own brand experiences and those of other consumers
Customer brand advocacy - ANSWER-Actions by which satisfied customers initiate
favorable interactions with others about a brand
Customer equity - ANSWER-The total combined customer lifetime values of all the
company's customers
Customer lifetime value - ANSWER-The value of the entire stream of purchases that the
customer would make over a lifetime of patronage
Customer perceived value - ANSWER-The difference between total customer value and
total customer cost
Customer relationship management - ANSWER-The overall process of building and
maintaining profitable customer value and satisfaction
Customer satisfaction - ANSWER-The extent to which a product's perceived
performance matches a buyer's expectations
Customer-engagement marketing - ANSWER-Making the brand a meaningful part of
consumers' conversations and lives by fostering direct and continuous customer
involvement in shaping brand conversations, experiences, and community
Demands - ANSWER-Human wants that are backed by buying power
Digital and social media marketing - ANSWER-Using digital marketing tools such as
Web sites, social media, mobile apps and ads, online video, e-mail, and blogs that
engage consumers anywhere, at any time, via their digital devices.
Exchange - ANSWER-The act of obtaining a desired object from someone by offering
something in return
Internet of Things (IoT) - ANSWER-A global environment where everything and
everyone is digitally connected to everything and everyone else
Market - ANSWER-The set of actual and potential buyers of a product or service
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