is the process by which companies create value for customers and society, resulting in strong customer relationships that capture value from the customers in return.

is a digital marketing term that refers to the value and strength of the relationships a brand or organization builds with its customers, audience, or partners over time.

Wants are how people communicate their needs.

Some combination of tangible products, services, information, or experiences that are offered to the market.

is a set of actual and potential buyers of a product.

People have almost unlimited wants but limited resources. They choose products that produce the most satisfaction for their money. When backed by buying power, wants become

leads to the concept of a market.

constitutes the value of the company's shares and loans that the shareholders have made available to the business.

holds that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired satisfaction more effectively and efficiently than competitors.

with a product is determined by how well the product meets the customer’s expectations for that product.

Customer equity is the discounted lifetime values of all the company’s current and potential customers

is the difference between the benefits that the customer gains from owning and/or using a product and the costs of obtaining the product.

management define as the art and science of choosing target markets and building profitable relationships with them.

Human beings have many complex needs. These include basic physical needs for food, clothing, warmth, and safety;

is the discounted LTVs of all the company’s current and potential customers.

defined narrowly as a customer data management activity.

is the act of obtaining a desired object from someone by offering something in return

benefits of customer loyalty come from continued patronage of loyal customers and reduced marketing costs.

is the set of benefits or values it promises to deliver to consumers to satisfy their needs.

based on past buying experiences, the opinions of friends, and market information.

It does this by dividing the market into segments of customers.

refers to the value a company gains from a product with a recognizable and admired name when compared to a generic equivalent.

selecting which segments it will go after.