Pantone is a color library generally used to specify spot colors accurately. Each color is associated with a number so instead of telling your printer the brochure prints Red and Blue, you would say prints 185/072 and this way your printer knows exactly what you mean by Red and Blue and it doesnt end up looking orange and purple.
CMYK or Cyan, Magenta, Yellow, Black are the four colors used in a process to simulate full color images. CMYK can be used to simulate Pantone colors, but dont usually match exactly.
B