| A | B |
|---|
| Marketing | The process of planning and executing the pricing, promotion and distribution of ideas, goods, and services to create exchanges between buyers and sellers |
| Exchange | occurs when two parties each have something of value to the other. |
| Marketing Mix | is the unique combination of pricing, promotion, product offerings and distribution system (place) to reach a specific group of consumers (the target market) |
| Target Market | the customers who are most likely to buy the firm's products. |
| The Right Principle | companies try to get the right goods to the right people at the right place at the right time at the right price using the right promotional strategies. |
| Product | is the firm's goods or services they are selling. This includes not only physical unit, also package, warranty, and brand and company image. |
| Price | price is determined by demand for the goods and the cost of the goods. |
| Place/Distribution | How a product flows from producer to customer. |
| Promotion | different elements that help increase the sale of the product. |
