Noah Trend

Each Saturday - Simple information - authorized references - hope to be helpful and useful ... !

Art of Marketing - intro - Creating the Value - definitions


Value

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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