| A | B |
|---|
| Target market | The group of customers on whom a business focuses its marketing efforts |
| Time smoothing | The process of determining “prime” and “non-prime” hours for a service and pricing accordingly |
| Unitary demand | A market situation in which changes in price create proportionate changes in product sales |
| Value | The amount of satisfaction a good or service will provide a customer |
| Variable costs | Business costs that change according to changes in sales volume |
| Fixed costs | Business costs that are not affected by changes in sales volume |
| Price | Marketing element requiring marketers to determine the amount of money they will ask in exchange for their products |
| Produc | Marketing element referring to what goods, services, or ideas a business will offer its customers |
