TERM 1
Customer Value
DEFINITION 1
Is the unique combination of benefits received by targeted
buyers that includes quality convenience on time delivery
and both before sale and after sale service at a specified
price
TERM 2
Environmental Factors
DEFINITION 2
Consist of the uncontrollable social economic technological
competitive and regulatory forces that affect he results of a
marketing decision
TERM 3
Exchange
DEFINITION 3
Is the trade of things of value between buyer and seller so
that each is better off after the trade
TERM 4
Market
DEFINITION 4
consists of people with both the desire and the ability to buy
a specific offering
TERM 5
Market Orientation
DEFINITION 5
occurs when an organization focuses its efforts on
continuously collecting information about customer's needs
& sharing this information across departments and using it to
create customer value
