| A | B |
|---|
| Marketing | identification, anticipation and satisfaction of the customer's needs, profitably |
| Marketing mix | product, price, place and promotion - the methods used to satisfy customer needs and wants |
| Competitive advantage | the business gaining an edge over its competitors |
| Product orientation | emphasis on designing the product which the company hopes to sell |
| Market orientation | emphasis on researching customer needs then designing and producing a product appropriate to those needs |
| Unique selling point | an attempt to differentaite the product from competition |
| Market aggregation | the process of aiming a product at an entire market |
| Market segmentation | the process of splitting the market into distinctive groups, with a view to targeting each specific group |
| Socio-economic groups | a method of segmentation according to income |
| Consumer profile | a process of identifying the lifestyle and spending habits of consumers |
