MAR 3023 Exam 1 USF | 100 Questions and Answers
customer relationship management (CRM) - -a company business strategy to optimize
profitability revenue and customer satisfaction.
-customer satisfaction - -Customer evaluation about whether a good has met their
expectation
-customer value - -The relationship between benefits and sacrifices to obtain
-customer perceived value* - -More than a matter of high quality or high price. Includes
customization and fast delivery.
-market orientation - -Sales don't depend on being aggressive but instead supplying what
people want.
-sales orientation - -The idea people will buy goods if you aggressively sell to them
-marketing - -A activity, process and set of institutions dedicated to exchanging offerings
of value between customer client, partner and society
-marketing concept - -The idea that and organization exist to satisfy customer needs while
meet organizational objectives
-sales concept* - -aggressive techniques; consumers will buy if pushed, high sales.
-production concept* - -Focus on improving products production, distro, internal
capabilities, features.
-production orientation - -A philosophy focused on the the internal capabilities of the firm
rather than the desire and needs of a marketplace.
-relationship marketing - -A strategy that focuses on keeping and improving relationships
with current customers
-societal marketing orientation - -The idea that an organization exist not only to satisfy
customer wants and needs and to meet organization objectives but also to preserve and
enhance the individual and society
-customer lifetime value* - -is a prediction of all the value a business will derive from their
entire relationship with a customer
-cash cow - -a business units that generates more cash than it needs to maintain market
share
, -competitive advantage - -A set of unique features of a company and its products that are
perceived by the target makert as superior
-diversification* - -Introducing a new product to a new markets
-four Ps - -Product,place promotion and price which together make up marketing mix.
-Product development - -A marketing strategy that entails the creation of a new products
for present markets
-market opportunity * - -Newly identified need, want, or demand trend that a firm can
exploit because it is not being addressed by the competitors.
-market penetration - -a marketing strategy that tries to increase market share among
existing customers
-marketing mix - -A unique blend of product,place promotion and pricing strategies
designed to produce mutually satisfying exchange with a target market.
-marketing objective - -A statement of what is to be accomplished through marketing
activities
-marketing plan - -A written document that acts as a guidebook of marketing activities for
the marketing manger.
-marketing planning - -Designing activities relating to marketing objectives and the
changing marketing environment
-marketing strategy - -The activités of selecting and describing one or more target markets
and developing and maintaining a marketing mix that will produce mutually satisfying
exchanges with target markets
-mission statement - -A statement of the firms business
-portfolio matrix - -a tool for allocating resources among products or strategic business
units on the basis of relative market share and market growth rate
-*product development* - -A marketing strategy that entails the creation of new products
for present markets
-product/service differentiation - -Something that is unique to a customer beside offering
bare basics
-star - -Fast growing market leader. Makes money takes money
customer relationship management (CRM) - -a company business strategy to optimize
profitability revenue and customer satisfaction.
-customer satisfaction - -Customer evaluation about whether a good has met their
expectation
-customer value - -The relationship between benefits and sacrifices to obtain
-customer perceived value* - -More than a matter of high quality or high price. Includes
customization and fast delivery.
-market orientation - -Sales don't depend on being aggressive but instead supplying what
people want.
-sales orientation - -The idea people will buy goods if you aggressively sell to them
-marketing - -A activity, process and set of institutions dedicated to exchanging offerings
of value between customer client, partner and society
-marketing concept - -The idea that and organization exist to satisfy customer needs while
meet organizational objectives
-sales concept* - -aggressive techniques; consumers will buy if pushed, high sales.
-production concept* - -Focus on improving products production, distro, internal
capabilities, features.
-production orientation - -A philosophy focused on the the internal capabilities of the firm
rather than the desire and needs of a marketplace.
-relationship marketing - -A strategy that focuses on keeping and improving relationships
with current customers
-societal marketing orientation - -The idea that an organization exist not only to satisfy
customer wants and needs and to meet organization objectives but also to preserve and
enhance the individual and society
-customer lifetime value* - -is a prediction of all the value a business will derive from their
entire relationship with a customer
-cash cow - -a business units that generates more cash than it needs to maintain market
share
, -competitive advantage - -A set of unique features of a company and its products that are
perceived by the target makert as superior
-diversification* - -Introducing a new product to a new markets
-four Ps - -Product,place promotion and price which together make up marketing mix.
-Product development - -A marketing strategy that entails the creation of a new products
for present markets
-market opportunity * - -Newly identified need, want, or demand trend that a firm can
exploit because it is not being addressed by the competitors.
-market penetration - -a marketing strategy that tries to increase market share among
existing customers
-marketing mix - -A unique blend of product,place promotion and pricing strategies
designed to produce mutually satisfying exchange with a target market.
-marketing objective - -A statement of what is to be accomplished through marketing
activities
-marketing plan - -A written document that acts as a guidebook of marketing activities for
the marketing manger.
-marketing planning - -Designing activities relating to marketing objectives and the
changing marketing environment
-marketing strategy - -The activités of selecting and describing one or more target markets
and developing and maintaining a marketing mix that will produce mutually satisfying
exchanges with target markets
-mission statement - -A statement of the firms business
-portfolio matrix - -a tool for allocating resources among products or strategic business
units on the basis of relative market share and market growth rate
-*product development* - -A marketing strategy that entails the creation of new products
for present markets
-product/service differentiation - -Something that is unique to a customer beside offering
bare basics
-star - -Fast growing market leader. Makes money takes money
