Societal Market Concept and Customer Relationship Management

Vocabulary flashcards covering societal market concepts, corporate examples like Higher Grounds Coffee and Tom's Shoes, B Corps, and customer relationship management based on lecture notes.

Societal Market Concept Focus

A marketing approach that focuses on meeting the needs of the consumer, the company, and society.

B Corp

A company structure that is not a nonprofit, but is not necessarily profit motivated, focusing instead on societal goals like fair trade.

Higher Grounds Coffee

A B Corp whose whole goal is to sell fair trade, good coffee at a reasonable price and to make fair trade farming a thing around the world.

Tom's Shoes

A company example focused on societal impact where buying a pair of shoes results in a pair being given to someone who doesn't have shoes in a lower developed country.

Customer Relationship Management

A system or practice used by organizations to track customer needs and wants to help keep customers loyal.