| A | B |
|---|
| Brand | a named product which consumers see as being different from other products |
| Generic product | a product made by a number of different businesses in which customers see no difference |
| Own brand | a product which is sold under the brand name of a supermarket chain or other retailer rather than under the name of the business which manufactures the product |
| Premium price | a price which is above the average for products of a particular type |
| Product differentiation | making one product different from another, for instance through the quality of a product, its design, packaging or advertising |
| Product mix | the combination of products that a business sells, like soap powders, cosmetics |
| Market segment | part of a market which contains a group of buyers with similar characteristics, such as age or income |
| Socio economic group | division of people from A to E according to the occupation of the head of the household in which they live |
| Marketing | the management process which is responsible for identifying potentially profitable products and then selling them to customers |
| Marketing mix | the combination of factors which help the business sell a product- price, product, place and promotion |
