| A | B |
|---|
| Advertising | A non-personal promotional message paid for by an identified sponsor |
| Behavioral Segmentation | Dividing markets by identifying common responses to products and product features |
| Demographic Segmentation | Dividing markets by characteristics people have in common |
| Geographic Segmentation | Dividing markets by where customers are located |
| Market | The group of potential customers who have similar needs and wants |
| Marketing | The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services |
| Marketing Concept | The philosophy that achieving organizational goals depends on determining the needs and wants of target markets |
| Marketing Mix | The combination of the four strategies for product/service, price, place and promotion – the 4 Ps of marketing |
| The 4 Ps of Marketing | Marketing Mix |
| Market Position | The perceived standing of a business or a product in the minds of its customers as compared to the competition |
| Market Potential | The total amount of revenue that can potentially be generated in a specific industry or market |
| Market Segmentation | Dividing the total market into smaller, well-defined groups with similar wants and needs and similar key characteristics |
| Market Share | The percentage of the total sales revenue captured by a firm within a market or industry |
| Personal Selling | Communication between a salesperson and a customer intended to influence the customer’s buying decision |
| Psychographic Segmentation | Dividing markets by identifying individuals' common interests, attitudes, values, lifestyle, or personality traits |
| Public Relations | Activities designed to create a favorable image for the business, its products, or its policies |
| Publicity | Information about a business or its products distributed through various media at no cost to the business and often not controlled by the business |
| Sales Promotion | All promotional activities other than advertising, personal selling, publicity, and public relations |
| Target Market | The group or groups of potential customers who have been identified as those most likely to patronize the business and/or buy the product |
| Target Marketing | Identifying market segments with the greatest potential for sales |
| Warranty | Assurance by the seller that the product is as it is represented to be or that it will be as it is promised to be |
