MKTG Midterm

process by which companies create customer value in order to capture value for customers in return

All the people who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address

states of felt deprivation

Human wants that are backed by buying power

The mistake of paying more attention to the specific
products a Company offers than to the benefits/experiences produced by the product

the idea that consumers will favor products that offer the most
quality, performance, and features; therefore, the organization should devote its energy
to making continuous product improvements

the idea that consumers will not buy enough of the firm's products
unless the firm undertakes a large-scale selling and promotion effort

a philosophy in which achieving organizational goals depends on
knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do

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 interests

Dividing the market into a distinct group of buyers who have different
needs, characteristics, or behaviors, and who might require separate products or
marketing programs

Specific group of people who respond in a similar way to a given set of
marketing efforts

Arranging for a product to occupy a clear, distinctive, and desirable place
relative to competing products in the mind of target consumers

Differentiate the market offering to create superior customer value

It is the set of controllable, tactical marketing tools—product, price, place, and
promotion—that the firm blends to produce the response it wants in the target market. It is composed by: Product- Place- Promotion- Placement

The ability of the Company to satisfy customer needs at the price that has a good value for the customer. It’s the set of benefits a Company promises to deliver to consumers to satisfy their needs

They are beliefs, traits and behavioral norms that guide its mission
and vision

The overall process of building and maintaining profitable customer relationshios by delivering superior customer vale and satisfaction

the extent to which a product's perceived performance matches
a customer's expectations

the value of the entire stream of purchases a customer
makes over a lifetime of patronag

the portion of the customer's purchasing that a company gets in its
product categories

the total combined customer lifetime values of all of the company's
customers

Buyer of a product or service online or offline. He may not be the user of it

End user of a product or service online or offline for personal use

An individual who potentially may have the intention to buy a product or a
service online or offline. He/she is the prospect.

1. Understand the marketplace and customer needs and wants
2. Design a customer-driven marketing strategy
3. Construct an integrated marketing program that delivers superior value
4. Build profitable relationships and create customer delight
5. Capture value from customers to create profits and customer equity

Self-actualization, esteem, loveelonging, safety, physiological

Butterflies, Strangers, True Friends, Barnacles

the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities

an encompassing explanation of why the organization exists, the aspirations and the course and direction charted to achieve them. It is distinctive and specific and sometimes it can be found inside the Brand logo or slogan. It must be effectively communicated inside and outside the Company

a statement of the organization's present business scope and purpose (who we are, what we do, why we are here). It is market oriented (customer’s needs, competitive advantage) and related to Company’s history, values and competences

related to the financial performance (revenues, profits, earnings, sales, dividends, stock price, cash flow, credit ratings, etc.) management has established for the organization to achieve

targets not expressed in monetary terms, but in terms of brand awareness, customer generated contents inside social media

related to attracting new customers or retain actual customer

high-level goals that are aligned with and support the company's mission and create shareholder value

is a part of the Organization (Unit) that supplies same products or services for a specific group of clients, satisfying the same needs,with the same technology.

the collection of businesses and products that make up the company

evaluating each market segment's attractiveness and selecting one or more segments to enter

the series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm's products

the process by which management evaluates the products and businesses that make up the company

a network composed of the company, suppliers, distributors, and, ultimately, customers who partner with each other to improve the performance of the entire system in delivering customer value

a group of consumers who respond in a similar way to a given set of marketing efforts

The process of planning, organizing, implementing, and controlling marketing activities to facilitate exchanges effectively and efficiently

a written document that includes a statement of the marketing situation, a discussion of target markets and company positioning and a description of the marketing mix the Company intends to use to reach its marketing goals

eliminating products or business units that are no longer profitable

Easy to be touched and quantified; financial resources (cash, liquidity) and physical resources (production, facilities, equipment, land,…)

Human resources, intellectual capital (brand, image, reputation)

It’s the capacity to perform some activities competently. They vary in quality, form and competitive importance. It is useful to think of capabilities as organizational routines or processes

Star, Cash Cow, Question Mark, Dog