| A | B |
|---|
| target market | Individuals that are interested in a particular product or service |
| marketing concept | Focusing on the needs of customers when planning, producing, distributing, and promoting a product or service |
| customers | People who buy the products and services companies offer |
| demographics | data that describes a group of people in terms of their age, marital status, family size, ethnic background, gender, profession, education, and income |
| market research | A system for collecting, recording, and analyzing information about customers, competitors, goods, and services |
| secondary data | Sources that are already published. ex. govt or business websites or books on industries |
| primary data | Information collected the first time for a specific purpose |
| focus group | An interview with a group of target customers who provide valuable ideas on products and services |
| competitors | Companies offering similar or identical products and services to same group of customers |
| customer feedback card | A short survey asking customers for their opinions about the company |
| advertising | A paid form of communication sent out by a business about a product or service |
| public relations | The act of creating a positive relationship with customers and the general public |
| press release | A written statement that informs the media of an event or product |
| rebate | A refund offered to people who purchase a product |
| publicity | Free promotion that comes from media coverage |
| sales promotion | the act of offering an incentive to cusomters in order to increase sales |
