Needs: states of felt deprivation

Wants: the form humans needs take as they are shaped by culture and individual personality

Customer satisfaction: the extend to which a product’s perceived performance matches a buyer’s expectations

Strategic planning: the process of developing and maintaining a strategic

Business portfolio: the collection of businesses and products that make up the company

Value chain: the series of internal departments that carry out value

Value delivery network: performance of the entire system in delivering customer value

Implementation: turning a marketing strategy to real-life actions