| A | B |
|---|
| market | A group of customers who share common wants and needs |
| marketing | The process of creating, promoting, and presenting a product to meet the wants and needs of consumers |
| marketing concept | A plan for how to market a product or service to consumers |
| target marketing | Finding and analyzing potential consumers for a product |
| relationship marketing | Building customer loyalty through good customer relations |
| marketing mix | The four main elements of marketing, also called the four Ps: product, place, price, and promotion |
| break-even point | The amount of money a company has to make on a product to pay for the cost of producing it |
| market research | Gathering and studying information about the buying habits of consumers to determine what goods and services to produce |
| demographics | Facts about the population in terms of age, gender, income, and education |
| channel of distribution | A particular means of directing products from producers to consumers, such as a wholesaler or retailer |
| direct distribution | Selling goods and services directly from producers to consumers without using intermediaries |
| indirect distribution | Moving goods from producers to consumers using one or more intermediaries |
| wholesaler | A type of business that buys goods in large amounts and resells them to other business in smaller lots |
| retailer | A business that sells goods or services directly to the public |
