| A | B |
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| 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 stakeholdrs. |
| product | Any tangible good, service, or idea available for purchase in a market, as well as any intangible benefits derived from its consumption. |
| customer relationship management | The process of establishing long-term relationships with individual customers to foster loyalty and repeat business. |
| value | Equals the ratio of a product's benefits to its costs. |
| target market | A specific group of potential customers on which a firm focuses its marketing efforts. |
| marketing mix | The compination of controllable elements of a product's marketing plan designed to serve the target market. |
| promotion | Part of the marketing mix consisting of all the methods to inform and persuade targeted customers to buy a product and build positive customer relationships. |
| place | A component of the marketing mix referring to all the mothods involved in getting a product into the hands of customers. |
| marketing environment | Includes environmental influences beyond a firm's control that constrain an organization's ability to manipulate its marketing mix. |
| environment scanning | The process of surveying the marketing environment to assess external threats and opportunities. |
| primary data | Raw data collected bya researcher. |
| secondary data | Data that have already been collected and processed. |
| marketing plan | A written document that specifies the marketing activities that will take place to achieve organizational objectives. |
| marketing objective | A clearly stated goal to be achieved through marketing activities. |
| niche markets | A smaller, more narrowly defined market. |
| consumer behavior | The ways individuals or organizations search for, evaluate, purchase, use, and idspose of goods and services. |
| consumer market | Individuals purchase goods and services for personal consumption. |
| business-to-business market | Businesses purchase goods and services from other businesses. |
| culture | The set of learned attitudes, beliefs, and ways of life that are unique to a society and are handed down from generation to generation. |
| marketing strategy | A strategy consisting of a terget market and a merketing mix. |
