2.  The art and science of choosing target markets and building profitable relationships with them. Questions to ask: 1. What customers will we serve? What is our target market? 2. How can we best serve these customers? What is our value proposition?

3. Finding and increasing demand, also changing or reducing demand such as in demarketing. DemandManagement Temporarily or permanently reducing the number of customers or shifting their demand. Demarketing

4. CustomerNeeds Product Price Promotion Distribution CustomerNeeds Product Price Promotion Distribution

6. Production Concept Product Concept Selling Concept Marketing Concept Societal Marketing Concept

9.  The set of benefits or values a company promises to deliver to consumers to satisfy their needs. It cleans and freshens like sunshine!

10.  Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.

11.  Dependent on the product’s perceived performance relative to a buyer’s expectations.

12.  Customer Lifetime Value › The entire stream of purchases that the customer would make over a lifetime of patronage. SShare of Customer ›T›The share a company gets of the customers purchasing in their product categories.

13.  Customer equity is the total combined customer lifetime values of all of the company’s customers.

14. Projected loyalty High Profitability Low Long-term customers Short-term customers Good fit between company’s offerings and customer’s needs; high profit potential Limited fit between company’s offerings and customer’s needs; low profit potential Little fit between company’s offerings and customer’s needs; lowest profit potential Good fit between company’s offerings and customer’s needs; highest profit potential Strangers ButterfliesTrue Friends Barnacles

15. Market Segmentation: Divide the market into segments of customers Target Marketing: Select the segment to cultivate #1#2

16. Rapid Globalization Ethics & SocialResponsibility New World of MarketingRelationships Not-for-ProfitMarketing