Chapter 11 Stuff 1
The present value of future profits a customer generates over his or her life in a relationship with a brand or firm
What is lifetime value
The process of anonymizing mobile phone data so that specific individuals cannot be identified
What is: Hashing
A sales approach that requires employees from the selling organization to analyze the buyer’s operations and offer ways to solve their problems
What is: Problem-Solution
An emphasis on consumers passing along information about a product to others; also known as word-of-mouth marketing
What is; Buzz Marketing
The use of buzz, word-of-mouth, and lifestyle messages at times when consumers are relaxing and enjoying hobbies and events
What is: Alternative Marketing
The process of using computer data analysis software to mine data for meaningful information and relationships
What is data mining
A form of database marketing in which the company sends promotional materials to customers who give the company permission to do so
What is: Permission Marketing
A strategic approach designed to generate leads from both customer and non-customer sources
What is: Referral Marketing
Programs designed to obtain instant results through the use of limited resources by relying on creativity, high-quality relationships, and the willingness to try new approaches
What is: Guerilla Marketing
The use of surreptitious practices to introduce a product to individuals without disclosing or revealing the true relationship with the brand
What is: Stealth Marketing
Developing long-term relationships with customers rather than focusing on a single transaction
What is: Relationship Marketing
Programs designed to build long-term loyalty and bonds with customers through the use of a personal touch facilitated by technology
What is: CRM
A list of customers who have made purchases or who have responded to direct mail offers in the past
What is: Response List
A program in which companies showcase employees discussing what it is like to work for a particular company
What is: Employer Branding
Marketing methods associated with the hobbies and entertainment venues of the target audience
What is: lifestyle marketing
The process of searching the database for a specific piece of information for marketing purposes
What is trawling
Consumers believe that they have power throughout the seller–consumer relationship, not just at the beginning when they agreed to join a frequency program
What is: Empowerment
A sales approach in which the salesperson strives to discover a customer’s needs during the first part of the sales presentation and then provides solutions to those needs
What is: need-satisfaction
Branded video games
What are: advergames
A program in which companies showcase employees discussing what it is like to work for a particular company
What is: Employer Branding
A sense of obligation toward a company that results from receiving special deals or incentives, such as gifts
What is: reciprocity
Vending products to customers without the use of other channel members
What is: Direct Response Marketing
A sales approach in which two organizations develop a common mission and then share resources to accomplish that mission
What is: Mission Sharing
A link that forms due to an association between the brand, a consumer, and others who own or purchase the brand
What are: Brand Communities
Any form of in-store special display that advertises merchandise
What is: POP or point of purchase displays