relationship quality

 degree of connectedness between a consumer and a retailer, brand, or service provide

Customer Relationship Management (CRM)

 systematic information management system that collects, maintains, and reports
detailed information about customers to enable a more customer-oriented managerial
approach
Consumer Value Framework (CVF)
 consumer behavior theory that illustrates factors that shape consumption-related
behaviors and ultimately determine the value associated with consumption
 The consumption process involves deciding what is needed, what the options for exchange might be,
and the inevitable reaction to consumption.
 Consumption process can involve a great deal of decision making and thus represents a consumer
decision-making process and the results of service.
 Service can be thought of as the organization’s efforts applied toward value creation.
 internal influences things that go on inside the mind and heart of the
consumer or that are truly a part of the consumer psychologically.
value a personal assessment of the net worth obtained
from an activity. From a marketing perspective, the
firm serves consumers well when consumers realize
value from activities involving interactions with the firm
or its products.
Utilitarian value is gratification derived from Hedonic value is the immediate gratification that comes
something that helps the consumer solve from experiencing some activity.
problems or accomplish tasks that are a
part of being a consumer.
 Marketing Strategy and Consumer Value

strategy is a planned way of doing

something to accomplish some goal.

marketing strategy is the way a

company goes about creating value for
customers.
 Market Characteristics: Market Segments and
Product Differentiation

marketing mix is simply the

combination of product, pricing,
promotion, and place of distribution
strategies used to position some
product offering or brand in the
marketplace.

target market to
signify which market segment a
company will serve with a specific
marketing mix.

Market segmentation is the

separation of a market
into groups based on the different
demand curves associated
with each group.

Product differentiation is a
marketplace condition in which
consumers do not view all competing
products as identical to one another.
 Analyzing markets with perceptual maps

 Product differentiation becomes the basis for product positioning.  perceptual map tool used to depict graphically the
Positioning refers to the way a product is perceived by a consumer positioning of competing products
and can be represented by the number and types of characteristics
that consumers perceive. A standard marketing tool is a perceptual
map.