"Broad" "Exact" "Phrase" when keyword searching?

this is the only part I'm very confused about at this minute a particular keyword seems very strong
when I use market samurai when searched as "broad" however coming to phrase it will lessen
then mark exact and it will drop down to almost nothing.

can someone please explain this I know many people using the tool here it's a useful one
that I recently downloaded however this part is making me think twice before selecting a KW

e.g a typical scenario someone says they are making a blog on a keyword with 40K monthly is this exact, phrase, or broad they speak of?

any help will be very appreciated thanks ~

exact is what matters

Broad = any variations with the words you are searching and all other words. ie: dog training, dog training toys, training dogs, dog training in memphis, where is the best place for dog training, etc.

Phrase = the keywords have to show up in a phrase using the exact keyword, no variations of your keywords. ie: my dog training, dog training toys...but not training dogs

Exact = only the word searched. ie: dog training...nothing else

[h=2]What are keyword matching options?[/h]
In mid-May, we'll be improving our exact match and phrase match options to allow your ads to show for search terms that are close variants, which include misspellings, singular and plural forms, stemmings, acronyms, abbreviations, and accents. https://support.google.com/adwords/bin/answer.py?answer=2537522

The four keyword matching options determine which Google searches can trigger your ads to appear. These options can help you control who sees your ads.
You can set each search-targeted keyword to have one of those four settings. To use a keyword matching option, just add the appropriate punctuation to your keyword:

1. https://support.google.com/adwords/bin/answer.py?hl=en&answer=6100&ctx=tltp#broad keyword
   Allows your ad to show on similar phrases and relevant variations
   (The broad match modifier may also be used to further refine your broad keyword matches: +keyword.)
   
2. https://support.google.com/adwords/bin/answer.py?hl=en&answer=6100&ctx=tltp#phrase "keyword"
   Allows your ad to show for searches that match the exact phrase
   
3. https://support.google.com/adwords/bin/answer.py?hl=en&answer=6100&ctx=tltp#exact [keyword]
   Allows your ad to show for searches that match the exact phrase exclusively
   
4. https://support.google.com/adwords/bin/answer.py?hl=en&answer=6100&ctx=tltp#neg -keyword
   Ensures your ad doesn't show for any search that includes that term

With some options, you'll enjoy more ad impressions, clicks, and conversions; with others, you'll get fewer impressions and more narrow targeting. By applying the appropriate matching options to your keywords, you can best meet your ROI goals.

[h=4]Broad Match[/h] This is the default option. If your ad group contained the keyword 'tennis shoes,' your ad would be eligible to appear when a user's search term contained either or both words ('tennis' and 'shoes') in any order, and possibly along with other terms. Your ads could also show for singular/plural forms, synonyms, and https://support.google.com/adwords/bin/answer.py?answer=6136.
[TABLE="align: center"]
[TR]
[TD]Broad match keyword: [/TD]
[TD]Ads may show on searches for: [/TD]
[/TR]
[TR]
[TD]tennis shoes[/TD]
[TD]tennis
shoes
buy tennis shoes
tennis shoe photos
running shoes
tennis sneakers[/TD]
[/TR]
[/TABLE]
Run a https://support.google.com/adwords/bin/answer.py?answer=68034 to see what keyword variations trigger your ad. The http://adwords.blogspot.com/2008/11/reach-more-customers-with-broad-match.html also contains more information on how broad match can help you reach more customers.
https://support.google.com/adwords/bin/topic.py?topic=10974
Use the https://support.google.com/adwords/bin/answer.py?answer=175280 to have greater reach with your keywords than phrase match, and more control than broad match.

[h=4]Phrase Match[/h] If you enter your keyword in quotation marks, as in "tennis shoes," your ad would be eligible to appear when a user searches on the phrase tennis shoes, with the words in that order. It can also appear for searches that contain other terms as long as it includes the exact phrase you've specified.
[TABLE="align: center"]
[TR]
[TD]Phrase match keyword: [/TD]
[TD]Ads may show on searches for: [/TD]
[TD]Ads won't show on searches for: [/TD]
[/TR]
[TR]
[TD]"tennis shoes"[/TD]
[TD]red tennis shoes
buy tennis shoes
tennis shoes photo[/TD]
[TD]shoes for tennis
tennis shoe
tennis sneakers[/TD]
[/TR]
[/TABLE]
Phrase match is more targeted than broad match, but more flexible than exact match.

[h=4]Exact Match[/h] If you surround your keywords in brackets -- such as [tennis shoes] -- your ad would be eligible to appear when a user searches for the specific phrase 'tennis shoes,' in this order, and without any other words in the search term.
[TABLE="align: center"]
[TR]
[TD]Exact match keyword: [/TD]
[TD]Ads may show on searches for: [/TD]
[TD]Ads won't show on searches for: [/TD]
[/TR]
[TR]
[TD][tennis shoes][/TD]
[TD]tennis shoes[/TD]
[TD]red tennis shoes
tennis shoe
buy tennis shoes[/TD]
[/TR]
[/TABLE]
You likely won't receive as many impressions, clicks, or conversions with exact match as you would with broad match. However, if you've carefully constructed a comprehensive keyword list, the traffic you do receive may be more targeted to your product or service.

[h=4]Negative Match[/h] If your keyword is 'tennis shoes' and you add the https://support.google.com/adwords/bin/answer.py?answer=63235 '-used,' your ad will not appear for any searches that contain the word 'used.'
[TABLE="align: center"]
[TR]
[TD]Keywords: [/TD]
[TD]Ads may show on searches for: [/TD]
[TD]Ads won't show on searches for: [/TD]
[/TR]
[TR]
[TD]tennis shoes
-used [/TD]
[TD]tennis shoes
buy tennis shoes
tennis[/TD]
[TD]used tennis shoes
shoe used for tennis
[/TD]
[/TR]
[/TABLE]
Negative keywords are especially useful if your account contains lots of broad match keywords. It's a good idea to add any irrelevant keyword variations you see in a https://support.google.com/adwords/bin/answer.py?answer=68034 or the https://adwords.google.com/select/KeywordTool as a negative keyword.
https://support.google.com/adwords/bin/topic.py?topic=11567

Exact means the exact keyword e.g. [apple pie]
Phrase means the exact wording in a phrase e.g. "apple pie" can also return a result "apple pie pudding"

both will help u in understanding the potential of the keyword. when talking in this forum most of the time it is Exact which people are referring to.

Thanks for your responses guys - what is the average figure people will aim for? for an "exact keyword" considering the competition is low

Considering you get 30-40% if you're on the first position, you should aim for 500 - 1.000+ exact searches / month. Of course, more is better!

if you are new to SEO then start with low traffic keywords
usually they don't have much competition so its easy to rank for them

More search is alway better