| A | B |
|---|
| The process of gathering, recording, analyzing, and reporting information regarding customers or potential customers. | market research |
| a company’s plan that identifies how it will use marketing to achieve its goals. | marketing strategy |
| When two people or organizations are involved in a transaction. | exchange |
| A smaller group of prospective customers with similar characteristics and needs that a company wants to serve. | target market |
| The blending of four marketing elements—referred to as the four “P’s”. | marketing mix |
| Developing and maintaining satisfying exchange relationships between businesses and consumers. | marketing |
| A small group of 8-15 people who share their opinions about a business, its products, or other issues being researched by the company. | focus groups |
| a broad group of prospective customers that a company wants to serve. | market |
