| A | B |
|---|
| Needs | Of necessity |
| Wants | To have a strong desire for |
| Marketing Mix (4 p's) | Factors that can be controlled by a company to influence consumers to buy its products |
| Product | Something that is marketed or sold as a good or service - what it is/feature benefit |
| Price | The amount of money given or set as consideration for the sale of a specified thing (how much you charge) |
| Place | A building or locality used for a special purpose - where you sell |
| Promotion | Methods used by businesses to make customers aware of its product (personal selling, mass selling, sales advertising and promotion) |
| Target Market | A group of customers a business has decided to aim its marketing efforts at (and ultimately, its merchandise) |
| Demographics | Statistical characteristics of humans (name, age, zip code or income) that is used for creating target groups (measurable) |
| Psychographics | Describes consumers on the basis of some pyschological trait, characteristics or lifestyle - not measurable - feelings or beliefs |
