| A | B |
|---|
| Advertising | Nonpersonal promotional message paid for by the sponsor using television, radio, magazines, newspapers, billboards, direct mail and social media |
| Behavioral | Segmentation dividing markets by common responses to products and product features |
| Demographic | Dividing markets by shared characteristics |
| Geographic | Dividing the market by where customers are located |
| Market | Group of potential customers who have similar needs and wants, sufficient buying power and willingness to purchase. |
| Marketing | Process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy the individual and organizational objectives |
| Marketing Concept | The philosophy that achieving organizational goals depends on determining the needs and wants of target markets and delivering the desired goods/services better than the competition. |
| Marketing Mix | 4 P's: Product, Price, Place, Promotion |
| Market Position | How the customer sees product/service compared to the competition |
| Market Potential | Total amount of revenue that could be potentially generated in a market |
| Market Segmentation | Diving the market into smaller well defined groups with similar wants and needs and characteristics. |
| Market Share | The percentage of total sales revenue captured by a firm within an industry. |
| Personal Selling | A salesperson influences a customer's buying decision |
| Psychographic | Segmentation based on market's common interests, attitudes, values, lifestyle or personality traits |
| Public Relations | Activities designed to create a favorable image of a business, it's products/services. |
| Publicity | Information about a business distributed through various media at no cost to the business. |
| Sales Promotion | All promotional activities other than advertising, personal selling, publicity and public relations |
| Target Market | The group of potential customers who have been identified as those most likely to buy the product |
| Target Marketing | Identifying market segments with the greatest potential for sales. |
| Warranty | Assurances by the seller that the product is as it is represented to be. |
