| A | B |
|---|
| competition | the rivalry between two or more businesses to attract scare customer dollars |
| discount store | a retail store competing on the basis of low prices and offering limited customer service |
| exchange price | the amount of money that the buyer is willing to pay and the seller is willing to accept for a good or service |
| market | a customer or a potential customer who has an unfulfilled desire |
| market share | an organization's portion of the total industry sales in a specific market |
| marketing mix | the combination of the four elements of marketing-product, place, promotion and price |
| market research | the systematic gathering, recording and analyzing of data about a specific issue, situation, or concern |
| medium | the message channel used by a seller to promote a good, service, or idea,e.g. radio, tv, newpapers or magazines |
| place(distribution) | marketing element focusing on considerations in getting a selected product in the right place at the right time |
| pricing | a marketing functions that involves determing and adjusting prices to maximes return and meet customers' perceptions of value |
| pricing objectives | goals a company hopes to accomplish through its pricing strategies |
| product decisions | marketing element referring to what goods, services, or ideas a business will offer its customers |
