the benefits a customer receives from buying a good or service
Value proposition
a market place offering that fairly and accurately sums up the value that will be realized if the good or service purchased
Value chain
a series of activities involved in designing , producing , marketing , delivering and supporting any products each link in the chain has the potential to either add or remove value from the product the customer eventually buys
Target market
the market segments on which an organization focuses its market plan and toward which it directs its marketing efforts
Myths
stories containing symbolic elements that express the shared emotions and ideas of a culture
Product
a tangible good , service , idea or some combination of these that satisfies consumer or business customer need through the exchange process , a bundle of attributes including features , functions , benefits and uses
Consumer good
the good purchased by individual consumers for personal or family use
Services
intangible products that are exchanged directly from the producer to the consumer
Business to business marketing
the marketing of those goods and services that business and organizational customers need to produce other goods and services for resale or to support their operations
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Industrial goods
Goods bought by individuals or organizations for further processing or for use in doing business
E - commerce
the buying or selling of goods and services electronically usually over the internet
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
Non profit organization
organization with charitable educational , community , and other public service goals that buy goods and services to support their functions and to attract and serve their members
life time value of a customer
the value of the entire stream of purchases that the customer would make over a life time of patronage
competitive advantage
the ability of a firm to outperform the competition thereby providing customers with a benefits the competition can't
Differential benefits
properties of products that set them a part from competitors' products by providing unique customer benefits
consumer generated value
everyday people functioning in marketing roles such as participating in creating advertisements , providing inputs to new product development or serving as wholesaler or retailer
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 the costs of a marketing offer relative to those of competing offers
customer satisfaction
the extent to which a product's perceived performance matches a buyer's expectations
customer - generated marketing
marketing message , ads , and other brand exchange created by customers themselves - both invited and uninvited
partner relationship management
working closely with partners in other company departments and outside the company to jointly bring greater value to customers
Value delivery network
the network made up of the company suppliers , distributors , and ultimately customers who " partner " with each other to improve the performance of the entire system .
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 values of all company's customers
The Dark Side of Marketing
consumer addiction
a physiological or psychological dependency on goods or services
TO BE CONTINUED NEXT SATURDAY ... !
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