| A | B |
|---|
| Warranty | guarantee of a product given by a company for a certain time |
| Behavioral segmentation | dividing a market into segments based on how the customer will use the product |
| Geographic segmentation | dividing a market based on where customers are located |
| Market | the group of consumers that are interested in a product and have the resources to purchase the product |
| Marketing | everything involved in the process of transferring goods from the seller to the buyer, including pricing, promoting, shipping, storing and sellingand selling |
| Marketing concept | the philosophy of satisfying customers by finding out their needs and wants and fulfilling those needs better than competitors |
| Marketing mix | the combination of strategies (the 4 Ps of marketing: product, price, place, promotion) that a business uses to sell products |
| Market position | the position of a business or product in the consumer’s mind compared to competition |
| Market potential | the total amount of revenue or sales that can be made in a specific market |
| Advertising | a non-personal method of getting public attention to a product or business by having announcements in print, TV, radio, Internet, etc. |
| Market segmentation | separating a market into smaller sections according to similar wants, needs and characteristics |
| Market share | the percentage of sales of a specific product within that market |
| Media | the means of communication that reach or influence people widely, such as television, radio, magazines, newspapers, billboards, Internet and direct mail |
| Personal selling | personalized, one-on-one (face-to-face) selling between the buyer and seller |
| Psychographic segmentation | dividing markets based on common interests, attitudes, values, or lifestyle characteristics |
| Public relations | activities a business engages in to communicate a favorable image |
| Publicity | the unpaid exposure a business or product gets through media that isn’t controlled by that business |
| Sales promotion | all other promotional activities or materials used to create sales of goods and services (ex: coupons, contests, sweepstakes) |
| Target market | the group of people that you are trying to sell to because it’s most profitable (you can make the most sales) |
| Target marketing | identifying market segments with the greatest potential for sales and focusing marketing towards those segments |
| Demographic segmentation | dividing a market into segments based on age, sex, income, race, etc. |
