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1、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?production conceptproduct conceptselling conceptmarketing con

2、ceptsocietal marketing conceptthe set of benefits or values a company promises to deliver to consumers to satisfy their needs.it cleans and freshens like sunshine!customers evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing off

3、ers.dependent on the products perceived performance relative to a buyers expectations.customer lifetime valuethe entire stream of purchases that the customer would make over a lifetime of patronage.share of customerthe share a company gets of the customers purchasing in their product categories.cust

4、omer equity is the total combined customer lifetime values of all of the companys customers.projected loyaltyhighprofitabilitylowlong-term customersshort-term customersgood fit between companys offerings and customers needs; high profit potentiallimited fit between companys offerings and customers n

5、eeds; low profit potentiallittle fit between companys offerings and customers needs; lowest profit potentialgood fit between companys offerings and customers needs; highest profit potentialstrangersbutterfliestrue friendsbarnaclesmarket segmentation:divide the market into segments of customerstarget marketing:select the segment to cultivate#1#2rapid globalizationethics &am

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