Glossary
- Page ID
- 54084
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\(\newcommand{\avec}{\mathbf a}\) \(\newcommand{\bvec}{\mathbf b}\) \(\newcommand{\cvec}{\mathbf c}\) \(\newcommand{\dvec}{\mathbf d}\) \(\newcommand{\dtil}{\widetilde{\mathbf d}}\) \(\newcommand{\evec}{\mathbf e}\) \(\newcommand{\fvec}{\mathbf f}\) \(\newcommand{\nvec}{\mathbf n}\) \(\newcommand{\pvec}{\mathbf p}\) \(\newcommand{\qvec}{\mathbf q}\) \(\newcommand{\svec}{\mathbf s}\) \(\newcommand{\tvec}{\mathbf t}\) \(\newcommand{\uvec}{\mathbf u}\) \(\newcommand{\vvec}{\mathbf v}\) \(\newcommand{\wvec}{\mathbf w}\) \(\newcommand{\xvec}{\mathbf x}\) \(\newcommand{\yvec}{\mathbf y}\) \(\newcommand{\zvec}{\mathbf z}\) \(\newcommand{\rvec}{\mathbf r}\) \(\newcommand{\mvec}{\mathbf m}\) \(\newcommand{\zerovec}{\mathbf 0}\) \(\newcommand{\onevec}{\mathbf 1}\) \(\newcommand{\real}{\mathbb R}\) \(\newcommand{\twovec}[2]{\left[\begin{array}{r}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\ctwovec}[2]{\left[\begin{array}{c}#1 \\ #2 \end{array}\right]}\) \(\newcommand{\threevec}[3]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\cthreevec}[3]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \end{array}\right]}\) \(\newcommand{\fourvec}[4]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\cfourvec}[4]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \end{array}\right]}\) \(\newcommand{\fivevec}[5]{\left[\begin{array}{r}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\cfivevec}[5]{\left[\begin{array}{c}#1 \\ #2 \\ #3 \\ #4 \\ #5 \\ \end{array}\right]}\) \(\newcommand{\mattwo}[4]{\left[\begin{array}{rr}#1 \amp #2 \\ #3 \amp #4 \\ \end{array}\right]}\) \(\newcommand{\laspan}[1]{\text{Span}\{#1\}}\) \(\newcommand{\bcal}{\cal B}\) \(\newcommand{\ccal}{\cal C}\) \(\newcommand{\scal}{\cal S}\) \(\newcommand{\wcal}{\cal W}\) \(\newcommand{\ecal}{\cal E}\) \(\newcommand{\coords}[2]{\left\{#1\right\}_{#2}}\) \(\newcommand{\gray}[1]{\color{gray}{#1}}\) \(\newcommand{\lgray}[1]{\color{lightgray}{#1}}\) \(\newcommand{\rank}{\operatorname{rank}}\) \(\newcommand{\row}{\text{Row}}\) \(\newcommand{\col}{\text{Col}}\) \(\renewcommand{\row}{\text{Row}}\) \(\newcommand{\nul}{\text{Nul}}\) \(\newcommand{\var}{\text{Var}}\) \(\newcommand{\corr}{\text{corr}}\) \(\newcommand{\len}[1]{\left|#1\right|}\) \(\newcommand{\bbar}{\overline{\bvec}}\) \(\newcommand{\bhat}{\widehat{\bvec}}\) \(\newcommand{\bperp}{\bvec^\perp}\) \(\newcommand{\xhat}{\widehat{\xvec}}\) \(\newcommand{\vhat}{\widehat{\vvec}}\) \(\newcommand{\uhat}{\widehat{\uvec}}\) \(\newcommand{\what}{\widehat{\wvec}}\) \(\newcommand{\Sighat}{\widehat{\Sigma}}\) \(\newcommand{\lt}{<}\) \(\newcommand{\gt}{>}\) \(\newcommand{\amp}{&}\) \(\definecolor{fillinmathshade}{gray}{0.9}\)Words (or words that have the same definition) | The definition is case sensitive | (Optional) Image to display with the definition [Not displayed in Glossary, only in pop-up on pages] | (Optional) Caption for Image | (Optional) External or Internal Link | (Optional) Source for Definition |
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(Eg. "Genetic, Hereditary, DNA ...") | (Eg. "Relating to genes or heredity") | The infamous double helix | https://bio.libretexts.org/ | CC-BY-SA; Delmar Larsen |
Word(s) | Definition | Image | Caption | Link | Source |
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attribute | An inherent characteristic or quality of some object. | ||||
benefit | A result or outcome associated with consuming that product or service. | ||||
bias | To exhibit or characterize by bias or prejudgement. | ||||
commoditization | A product becomes indistinguishable from others like it and consumers buy on price alone. | ||||
commoditized | Competitors believe they are delivering similar products with similar service levels. | ||||
competitive advantage | An advantage over competitors allowing it to generate more sales and retain more customers than the competition. | ||||
competitor-centered firms | Firms whose moves center on competitors’ moves and actions. | ||||
customer perception | What the customer thinks about a company, not what it actually offers. | ||||
customer value | The customer’s sense of what benefits they get from a firm relative to the price they pay. | ||||
disequity | The current offering is unsatisfactory to the customer on this attribute. | ||||
inside view | The assets, resources, capabilities, and knowledge that the company brings to bear in producing value for its customers. | ||||
instrumental value | Value as a means to another end or value. | ||||
laddering | Drills down into deeper reasons underlying customers’ interest in the attributes of a product or service. | ||||
Low awareness | Attributes that may have value to customers but are largely unknown. | ||||
market driven | Focus is jointly on competitors and customers. | ||||
market segment | An identifiable group that shares one or more characteristic. | ||||
miscommunicated equity | The customer does not really understand the attribute or benefit and how effectively we offer it. | ||||
Negative value | Value with which customers are dissatisfied. | ||||
nonvalued equity | The attribute is unimportant to the customer. | ||||
outside view | The customer’s perception of a company’s value and competitors’ values. | ||||
points of difference | The product delivers substantial, unique value to customers in the form of superior performance. | ||||
RCA | Resources, capabilities, and assets. | ||||
Strategic bundles | Aggregations of the firm’s internal attributes often invisible to the market, which have the potential of meeting current and future customer needs and values. | ||||
Thinking deeply | Recognizing that there are deeper values or problems that drive customers’ decision making. | ||||
unleveraged equity | The value sought is not effectively provided but it possibly could be provided. |