WAEC Commerce 2000 Theory question 110

(i) Marketing concept – the idea that a business should first find out the needs of consumers and produce to satisfy them profitably (the consumer is king).
(ii) Marketing mix – the combination of variables a firm uses to sell its product: product, price, place (distribution) and promotion (the 4 Ps).
(iii) Market segmentation – dividing the whole market into groups of buyers with similar needs (by age, sex, income, location, etc.) and serving each with a suitable marketing mix.
(iv) Product differentiation – making one's product look different from rivals' similar products by brand name, packaging, colour, design or quality.

Define each term clearly.