| A | B |
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| Marketing | is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, etc.. |
| Marketing mix | is the blend of four marketing elements, product, distribution, price, and promotion. |
| Target Market | is a specific group of consumers who have similar wants and needs. |
| Marketing strategy | a company's plan that identifies how it will use marketing to achieve its goals |
| Final consumers | are persons who buy products and services mostly for their own use. |
| Consumer decision-making process | Specific sequence of steps consumers follow to make a purchase |
| Buying motives | What products and services to purchase |
| Marketing research | finding solutions to problems through carefully designed studies involving consumers |
| Product | is everything a business offers to satisfy a customer's needs. |
| Services | are activities that are consumed at the same time they are produced. |
| Intangible | meaning that they have no physical form. |
| perishable | meaning that the availability of a service must match the demand for that service at a specific time. |
| heterogeneous | meaning that there will be differences in the type of quality of service provided. |
| Price | is the money a customer must pay for a product or service |
| Retailers | are the final business organization in an indirect channel of distribution for consumer products |
| Promotion | is any form of communication used to inform, persuade, or remind. |
| Advertising | is any paid form of communication through mass media directed at identified consumers to provide information and influence their actions. |
| Merchandising | includes a set of promotional activities designed to generate sales in the retail setting. |
