The more important concept to keep in mind is that you want to choose keywords that best relate to the content present on a web page and on a website; if you don't have a dog food comparison matrix, then don't bother including comparison-related keywords; you are misleading your users, and certainly not fooling Google. So in an ideal world, you do have a comparison section, a reviews section, and a rankings section, housed on different pages or sections of your site, with each one tagged with the appropriate keywords. Correspondingly, your SEO and PPC search engine marketing efforts should that content by driving review keywords to the review pages and so on.
The key distinction is that SEM is a broader strategy which combines paid search and SEO tactics. So, if you set up a PPC advertisement, but don't take steps to optimize the ad or the website it links to, this is a standard example of paid search. However, if you optimize your site and your search content with solid keywords, then you put money behind it to boost it on targeted audience's search pages, then you're dabbling in SEM.