Marketing~ marketing is the activity, set of institution, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, client, partners, and society-at-large.
Needs~ state felt depriviation
wants~ THE FORM HUMAN NEEDS TAKE AS SHAPED BY CULTURE AND INDIVIDUAL PERSONALITY.
Demands~ Human wants that are backed by buying power
Marketing offering~ some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
marketing myopia~ the mistakes of paying more attention to the specific products a company offers than to the benefits and experiences produces by these products.
exchange~ the act of obtaining a desired object from someone by offering something in return.
market~ the set of all actual and potential buyers of the products service.
marketing management~ the art and science of choosing target markets and building profitable relationships with them.
Production concept~ the idea that consumers will favor the products that are available and highly affordable and that the organization should therefore focus on improving the productions and the distribution efficiency.
Product concept~ The idea that consumers will favor the products that offer the quality, performance, and the features and that the organizations should therefore devote its energy making continuous product improvements.
Selling concept~ the idea that consumers will not buy enough of the firm's products unless ut undertakes a large-scale selling and promotion efforts.
marketing concept~ the marketing philosophy that holds that achieving organizational goals depends n knowing the need and wants of target markets and delivering the desired satisfactions better than the competitors do.
social marketing concept~ the idea that a company's marketing decisions should consider consumers' wants, the company's requirements, consumers' long-run interests, and society's long-run interest
Customer relationship management~ The overall process of building and maintaining PROFITABLE customer relationship by delivering superior customer value and satisfaction.
customer perceived value~ the customer's evaluation of the difference between all the benefits and all the cost of the marketing offer relative to those of competing offer.
customer satisfaction~ the extent to which a product's perceived performance matches a buyer's expectation.
consumer-generated marketing~ marketing message, ads, and other brand exchanges created by consumers themselves- both invited and uninvited.
partner relationship managements~ working closely with the partners in other company department and the outside the company to joint the bring greater value to the customers.
Customer lifetime value - the value of the entire stream of purchases that the customer would make over the lifetime of patronage.
share of customer - the portion of the customer's purchasing that a company gets in its product categories.
customer equity - the total combined customer lifetime value of all of the company's customers.
internet - a vast public web of computer networks, which connects users of all types all around the world to each other and to an amazingly large information repository.