BRAIN BREW

7. Economic worth of a customer relationship over its entire duration
10. Demand acceleration caused by social influence rather than intrinsic need
13. Core benefit perceived by customers beyond price paid
14. Chosen customer group a firm commits its resources to serve
15. Identifier that distinguishes one seller’s offering from another
16. Arena of exchange where buyers and sellers interact

1. Customer’s mental trade-off between benefits received and sacrifices made
2. Degree to which demand reacts to changes in price levels
3. Customer judgment formed after comparing expectations and performance
4. Cumulative perception formed across all brand touchpoints over time
5. Differentiating benefit that prevents a brand from becoming interchangeable
6. Integrated decision process linking segmentation choices with competitive focus
8. Strategic effort to occupy a distinctive mental space in the customer’s mind
9. Act of clustering customers with similar needs or behaviors
11. Classic hierarchy-of-effects model guiding consumer response
12. Managerial levers a firm can control to influence market response