Marketing — The organizational function for creating, communicating, and delivering value to customers and managing customer relationships. [oai_citation:1‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com)
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| Term | Definition |
|---|---|
| Marketing — The organizational function for creating, communicating, and delivering value to customers and managing customer relationships. [oai_citation:1‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Customer Value — The perceived benefits a customer receives from a product compared to the cost of obtaining it. [oai_citation:2‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Needs vs Wants — Needs are states of felt deprivation; Wants are needs shaped by culture and personality. [oai_citation:3‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Supply Chain — Firms that work together to move a product from raw materials to the consumer. [oai_citation:4‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Logistics — Planning, implementing, and controlling flow of goods, services, and information. [oai_citation:5‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Marketing Mix (4 Ps) — Combination of activities a firm uses to influence demand (Product, Price, Place, Promotion). [oai_citation:6‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Market Segmentation — Division of a market into meaningful, similar groups of buyers. [oai_citation:7‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Target Market — Group a company chooses to serve through tailored marketing. [oai_citation:8‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Positioning — Creating a distinct perception of a product in consumers’ minds. [oai_citation:9‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Brand Loyalty — A consumer’s repeat purchases based on preference or attachment. [oai_citation:10‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Integrated Marketing Communications (IMC) — A strategy coordinating promotional messages for consistency. [oai_citation:11‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Consumer Decision-Making Process — Steps consumers go through when purchasing: problem recognition → information search → evaluation → purchase → post-purchase behavior. [oai_citation:12‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Problem Recognition — Identifying a need that requires satisfaction. [oai_citation:13‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Information Search — Gathering information about options to satisfy a need. [oai_citation:14‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Evaluation of Alternatives — Comparing different choices before purchasing. [oai_citation:15‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Purchase Decision — Choosing and buying a product. [oai_citation:16‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Post-Purchase Evaluation — Assessing satisfaction after buying. [oai_citation:17‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Psychographic Segmentation — Segmenting consumers based on lifestyle, values, or personality. [oai_citation:18‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Behavioral Segmentation — Segmenting by usage rate, benefits sought, or loyalty. [oai_citation:19‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Demographic Segmentation — Segmenting by age, gender, income, etc. [oai_citation:20‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Geographic Segmentation — Segmenting based on location like region or city. [oai_citation:21‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| SWOT Analysis — Evaluation of Strengths, Weaknesses, Opportunities, and Threats. [oai_citation:22‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| BCG Matrix — Portfolio analysis based on market growth rate and share. [oai_citation:23‡Quizlet](https://quizlet.com/1128043964/comprehensive-marketing-and-consumer-behavior-key-terms-flash-cards/?utm_source=chatgpt.com) | |
| Consumer — An individual or organization buying or using products and services. [oai_citation:24‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Advertising — Paid, non-personal promotion to a mass audience. [oai_citation:25‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Sales Promotion — Short-term incentives to increase purchases. [oai_citation:26‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Public Relations — Managing a company’s public image through earned media. [oai_citation:27‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) | |
| Brand Equity — The added value a brand gains through recognition and loyalty. [oai_citation:28‡Quizlet](https://quizlet.com/1122011306/comprehensive-marketing-and-consumer-behavior-key-concepts-flash-cards/?utm_source=chatgpt.com) |