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Brand exchanges created by consumers themselves- both invited and uninvited - by which consumers are playing sn increasing role in shaping their own bran experiences and those of other consumers[blank_start].[blank_end]
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Consumer-generated marketing
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Working closely with partners in other company departments and outside the company to jointly bring greater value to customers [blank_start]...[blank_end]
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Partner relationship management
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The value of the entire stream of purchases a customer makes over a lifetime of patronage [blank_start]...[blank_end]
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Customer lifetime value
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The portion of the customer's purchasing that a company gets in its product categories .[blank_start]..[blank_end]
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Share of customer
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The total combined customer lifetime values of all of the company's customers [blank_start]..[blank_end].
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Customer equity
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Using digital marketing tools such as Websites, social media, mobile apps and ads, online video, email, and blogs and engage customers anywhere, at any time, via their digital devices [blank_start]...[blank_end]
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Digital and social media marketing
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The process of developing and mantaining strategic fit between the organization's goals and capabilities and its changing marketing opportunities [blank_start]...[blank_end]
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strategic planning
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A statement of the organization's purposes - what it wants to accomplish in the larger environment [blank_start]...[blank_end]
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Mission statement
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The collection of businesses and products that make up the company [blank_start]...[blank_end]
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Business portfolio
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The process by which management evaluateS the products and businesses that make up the company [blank_start]...[blank_end]
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Portfolio analysis
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A portfolio-planning tool for identifying companies growth opportunities through market penetration, market development, product development, or diversification [blank_start]...[blank_end]
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Product/market expansion grid
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A protfolio-planning method that evaluates a company's SBU in terms of market growth rate and relative market share [blank_start]...[blank_end]
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Growth-share matrix
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Company growth by increasing sales of current products to current market segments without changing the product [blank_start]...[blank_end]
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Market penetration
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Company growth by identifying and developing new market segments for current company products [blank_start]...[blank_end]
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Market development
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Company growth by offering modified or new products to current market segments [blank_start]...[blank_end]
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Product development
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Company growth through starting up or aquiring businesses outside the company's current products and markets [blank_start]...[blank_end]
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Diversification
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The network made up of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system [blank_start]...[blank_end]
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Value delivery network
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The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships [blank_start]...[blank_end]
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Marketing strategy
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Dividing a market into distinct groups of buyers who have different needs, characteristics or behaviors, and who might require separate products or marketing programs [blank_start]...[blank_end]
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Market segmentation
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A group of consumers who respond in a similar way to a given set of marketing efforts [blank_start]...[blank_end]
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Market segment
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The process of evaluating each market segment's attractiveness and selecting one or more segments to enter [blank_start]...[blank_end]
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Market targetting
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Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers [blank_start]...[blank_end]
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Positioning
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Actually differentiating the market offering to create superior customer value [blank_start]...[blank_end]
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Differentiation
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The set of tactical marketing tools - product, price, place and promotion - that the firm blends to produce the respone it wants in the target market - guided by marketing strategy [blank_start]...[blank_end]
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Marketing mix
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Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives [blank_start]...[blank_end]
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Marketing implementation
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Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved [blank_start]...[blank_end]
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Marketing control
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Checking ongoing performance against the annual plan [blank_start]...[blank_end]
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Operating control
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The net return from a marketing investment divided by the costs of the marketing investment [blank_start]...[blank_end]
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Marketing return on investment (mkt ROI)
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Meaningful sets of marketing performance measures in a single desplay used to monitor strategic marketing performance [blank_start]...[blank_end]
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Marketing dashboards
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The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return [blank_start]...[blank_end]
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Marketing
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States of felt deprivation [blank_start]...[blank_end]
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Needs
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The form human needs take as they are shaped by culture and individual personality [blank_start]...[blank_end]
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Wants
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Human wants that are baked by buying power [blank_start]...[blank_end]
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Demands
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Some combination of products, services, information, or experiences offered to a market to satisfy a need or want [blank_start]...[blank_end]
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Market offerings
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The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products [blank_start]....[blank_end]
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Marketing myopia
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The act of obtaining a desired object from someone by offering something in return [blank_start]...[blank_end]
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exchange
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The set of all actual and potential buyers of a product or service [blank_start]...[blank_end]
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Market
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The art and science of choosing target markets and building profitable relationships with them [blank_start]...[blank_end]
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Marketing management
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The idea that consumers will favor products that are available and highly affordable, therefore, the organization should focus on improving production and distribution efficiency [blank_start]...[blank_end]
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Production concept
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The idea that consumers will favor products that offer most quality, perfomance, and features, therefore, the organization should devote its energy to making continuous product improvements [blank_start]...[blank_end]
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Product concept
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The idea that consumers will not buy enoguh of the firm's products unless the firm undertakes a large-scale selling and promotion effort [blank_start]...[blank_end]
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Selling concept
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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 [blank_start]...[blank_end]
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Marketing concept
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The idea that a company's marketing decisions should consider consumer's wants, the comapny requirements, consumer's long-run interests, and society's long-run interests [blank_start]...[blank_end]
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Societal marketing concept
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The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction [blank_start]...[blank_end]
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Customer relationship management
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The customer's evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers [blank_start]...[blank_end]
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Customer-perceived value
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The extent to which a product's perceived performance matches a buyer's expectations [blank_start]...[blank_end]
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Customer satisfaction
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Making the brand a meaningful part of consumer's conversations and lives by fostering direct and continuous customer involvement in shaping brand conversations, experiences, and community [blank_start]...[blank_end]
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Customer-engagement marketing
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The actors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers [blank_start]...[blank_end]
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Marketing environment
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The actors close to the company that affect its ability to serve its customers - the company, suppliers, marketing intermediaries, customer markets, competitors, and publics [blank_start]...[blank_end]
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Microenvironment
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The larger societal forces that affect the environmetn - demographic, economic, natural, technological, political and cultural forces [blank_start]...[blank_end]
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Macroenvironment
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Firms that help the company to promote, sell and distribute its goods to final buyers. (Important component of the value delivery network) [blank_start]...[blank_end]
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Marketing intermediaries
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Any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives [blank_start]...[blank_end]
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Public
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The study on human populations in terms of size, density, location, age, gender, race, occupation, and other statistics [blank_start]...[blank_end]
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Demography
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The 78 million people born during the years following World War II and lasting until 1964 [blank_start]...[blank_end]
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Baby boomers
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The 49 million people born between 1965 and 1976 in the "birth death" following the baby boom [blank_start]...[blank_end]
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Generation X
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The 83 million children of the baby boomers born between 1977 and 2000 [blank_start]...[blank_end]
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Millennials (Generation Y)
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People born after 2000 (although many analysts include people born after 1995) who make up the kids, tweens, and teen markets [blank_start]...[blank_end]
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Generation Z
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Economic factors that affect consumer purchasing power and spending patterns [blank_start]...[blank_end]
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Economic environment
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The physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities [blank_start]...[blank_end]
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Natural environment
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Developing strategies and practices that create a world economy that the planet can support indefinitely [blank_start]Environmental sustainability[blank_end]
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Environmental sustainability
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Forces that create new technologies, creating new product and market opportunities [blank_start]Technological environment[blank_end]
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Technological environment
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Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society [blank_start]Political environment[blank_end]
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Political environment
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Institutions and other forces that affect society's basic values, perceptions, preferences, and behaviors [blank_start]Cultural environment[blank_end]
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Cultural environment
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Fresh undertanding of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships [blank_start]Customer insights[blank_end]
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Customer insights
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People and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights [blank_start]Marketing information system (MIS)[blank_end]
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Marketing information system (MIS)
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Electronic collections of consumer and market information obtained from data sources within the company network [blank_start]Internal databases[blank_end]
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Internal databases
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The systematic collection and analysis of publicly available information about consumers, competitors, and developments in the marketing environment [blank_start]Competitive marketing intelligence[blank_end]
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Competitive marketing intelligence
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The systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization [blank_start]Marketing research[blank_end]
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Marketing research
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Marketing research to gather preliminary information that will help define the porblems and suggest hypotheses [blank_start]Exploratory research[blank_end]
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Exploratory research
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Marketing research to beter describemarketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers [blank_start]Descriptive research[blank_end]
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Descriptive research
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Marketing research to test hypotheses about cause-and-effect relationships [blank_start]Causal research[blank_end]
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Causal research
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Information that already exists somewhere, having been collected for another purpose [blank_start]Secondary data[blank_end]
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Secondary data
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Information collected for the specific purpose at hand [blank_start]Primary data[blank_end]
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Primary data
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Gathering primary data by observing relevant people, actions and situations [blank_start]Observational research[blank_end]
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Observational research
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A form of observational research that invoves sendinf trained observers to watch and interact with consumers in their "natural environments" [blank_start]Ethnographic research[blank_end]
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Ethnographic research
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Gathering primary data by asking people questions about their knowledge, attitudes, preferences and buying behavior [blank_start]Survey research[blank_end]
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Survey research
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Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses. [blank_start]Experimental research[blank_end]
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Experimental research
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Personal interviewing that involves inviting 6 to 10 people to gather for a few hours with trained interviewer to talk about a product, service, or ogranization. The interviewer focuses the group discussion on important issues [blank_start]Focus group interviewing[blank_end]
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Focus group interviewing
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Collecting primary data online through internet surveys, online focus groups, Web-based experiments, or tracking consumers' online behavior [blank_start]Online marketing research[blank_end]
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Online marketing research
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Gathering in a small group of people online with a trained moderator to chat about a product, service, or organization and gain quantitative insights about consumer attitudes and behavior [blank_start]Online focus groups[blank_end]
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Online focus groups
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Using online consumer tracking data to target advertisements and marketing offers to specific consumers [blank_start]Behavioral targetting[blank_end]
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Behavioral targetting
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A segment of the population selected for marketing research to represent the population as a whole [blank_start]Sample[blank_end]
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Sample
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Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty [blank_start]Customer relationship management (CRM)[blank_end]
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Customer relationship management (CRM)
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The buying behavior of final consumers - individuals and households that buy goods and services for personal consumption [blank_start]Consumer buyer behavior[blank_end]
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Consumer buyer behavior
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All the individuals and households that buy or acquire goods and services for perosnal consumption [blank_start]Consumer market[blank_end]
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Consumer market
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The set of basic values, perceptions, wants and behaviors learned by a member of society from family and other important institutions [blank_start]Culture[blank_end]
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Culture
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A group of people with shared value systems based on common life experiences and situations [blank_start]Subculture[blank_end]
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Subculture
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Including ethnic themes and cross cultural perspectives within a brand's mainstream marketing, appealing to consumer similarities across subcultures rather than differences [blank_start]Cross-cultural marketing[blank_end]
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Cross-cultural marketing
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Relatively permanent and ordered divisions in a society whose members share similar values, interests and behaviors [blank_start]Social class[blank_end]
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Social class
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Two or more people who interact to accomplish individual or mutual goals [blank_start]Group[blank_end]
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Group
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The impact of the personal words and recommendations of trusted friends, associates, and other consumers on buying behavior [blank_start]Word-of-mouth influence[blank_end]
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Word-of-mouth influence
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A person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others [blank_start]Opinion leader[blank_end]
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Opinion leader
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Online social communities - blogs, social networking Websites, and other online communities - where people socialize or exchange informations and opinions [blank_start]Online social networks[blank_end]
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Online social networks
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A person's pattern on living as expressed in his or her activities, interests, and opinions [blank_start]Lifestyle[blank_end]
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Lifestyle
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The unique psuchological characteristics that distinguish a person or group [blank_start]Personality[blank_end]
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Personality
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A need that is sufficiently pressing to direct the person to seek a satisfaction of the need [blank_start]Motive (drive)[blank_end]
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Motive (drive)
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The process by which people select, organize, and interpret information to form a meaningful picture of the wold [blank_start]Perception[blank_end]
- Selective Distorsion
- Subliminal advertising
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Perception
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Changes in an individual's behavior arising from experience [blank_start]Learning[blank_end]
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Learning
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A person's consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea [blank_start]Attitude[blank_end]
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Attitude
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Buyer discomfort caused by post purchase conflict [blank_start]Cognitive dissonance[blank_end]
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Cognitive dissonance
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A good, service, or idea that is perceived by some potential customers as new [blank_start]New product[blank_end]
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New product
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The mental process through which an individual passes from first hearing about an innovation to final adoption [blank_start]Adoption process[blank_end]
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Adoption process
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The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rentedm or supplied to others [blank_start]Business buyer behavior[blank_end]
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Business buyer behavior
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The decision process by which business buyers determine which products and services their organizations needs to purchase and then find, evaluate and choose among alternative suppliers and brands [blank_start]Business buying process[blank_end]
Far fewer but far larger buyers
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Business buying process
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Business demand that ultimately comes from (derives from) the demand for consumer goods [blank_start]Derived demand[blank_end]
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Derived demand
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Systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials for use in making products or reselling them to others [blank_start]Supplier development[blank_end]
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Supplier development
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A business buying situation in which the buyer routinely reorders something without modifications [blank_start]Straight rebuy[blank_end]
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Straight rebuy
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A business buying situation in which the buyer wants to modify product specifications, prices, terms or suppliers [blank_start]Modified rebuy[blank_end]
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Modified rebuy
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A business buying situation in which the buyer purchases a product or service for the first time [blank_start]New task[blank_end]
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New task
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Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation [blank_start]System selling (or solutions selling)[blank_end]
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System selling (or solutions selling)
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