MGMA01H3 Study Guide - Midterm Guide: Brand Equity, Customer Satisfaction, Marketing Myopia

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23 Feb 2016

Document Summary

Market offering: some combination of products, services, information, or experiences, offered to a market to satisfy a need or a want. Marketing myopia: the mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products. Marketing management: the art and science of choosing target markets and building profitable relationships with them. To have a perfect marketing strategy, the marketing manager must answer two questions: How can we serve these customers the best. The marketing mix are: place, product, promotion, and price. Customer relationship management: the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. Customer-perceived value: the customer"s evaluation of the difference between all benefits and all costs of a marketing offer relative to those of competing offers. Customer satisfaction: the extent to which a products perceived performance matches with the buyers expectations.

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