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Marketing Midterm (M370) Terms in this set (120) Marketing managing profitable customer relationships, and attract new customers by supplying value Needs States of felt deprivation (ex. water) Wants The form needs take as they are shaped by cultu$7.99
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Marketing Midterm (M370) Terms in this set (120) Marketing managing profitable customer relationships, and attract new customers by supplying value Needs States of felt deprivation (ex. water) Wants The form needs take as they are shaped by cultu
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Course
GED - General Educational Development
Institution
GED - General Educational Development
Marketing Midterm (M370)
Terms in this set (120)
Marketing managing profitable customer relationships, and attract new customers by supplying value
Needs States of felt deprivation (ex. water)
Wants The form needs take as they are shaped by culture and personality (ex. Coke)
De...
managing profitable customer relationships, and attract new customers by supplying
Marketing
value
Needs States of felt deprivation (ex. water)
Wants The form needs take as they are shaped by culture and personality (ex. Coke)
Demands Human wants backed by buying power
combination of products, services, information or experiences offered to satisfy need
Market offerings
or want
Mistake of paying more attention to products from a selling standpoint than benefits
Marketing myopia
produced for the customer
Exchange getting something in return for something of desire
Market set of actual and potential buyers
art and science of choosing target markets and building profitable relationships with
Marketing Management
them
organizational goals depend on needs and wants of target market and satisfying them
Marketing Concept
better than the competition
marketing decisions should consider consumer wants, company requirements, and
Societal Marketing Concept
consumer and societal long-run interest
4 P's of Marketing Product, price, place, promotion
process of building and maintaining profitable consumer relationships by delivering
Customer Relationship Management (CRM)
superior satisfaction and value
customers opinion of the benefits and costs of all the products in the market, includes
Customer perceived value
all costs to acquire
Customer satisfaction how a product or service meets or exceeds a customer's expectations
Consumer generated marketing Brand exchanges by customers themselves (ex. word of mouth)
Customer Lifetime Value making a customer loyal over a lifetime
Marketing Midterm (M370)
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