| A | B |
|---|
| Marketing | an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders |
| exchange | people giving up something to receive something they would rather have |
| production orientation | a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace |
| sales orientation | the idea that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits |
| marketing concept | the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives |
| market orientation | a philosophy that assumes that a sale does not depend on an aggressive sales force but rather on a customer's decision to purchase a product. It is synonymous with the marketing concept. |
| societal marketing orientation | the idea that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals' and society's long-term best interests. |
| customer value | the relationship between benefits and the sacrifice necessary to obtain those benefits |
| customer satisfaction | customer's evaluation of a good or service in terms of whether it has met their needs and expectations |
| relationship marketing | a strategy that focuses on keeping and improving relationships with current consumers |
| empowerment | delegation of authority to solve customers' problems quickly - usually by the first person that the customer notifies regarding a problem |
| teamwork | collaborative efforts of people to accomplish common objectives |
| viral marketing | word of mouth marketing |
| Chief Customer Officer (CCO) | These customer advocates provide an executive voice for customers and report directly to the CEO. |
