Тема 5 The Target Market

Read and translate the text.

The marketing strategies of determining product, price, placement, and promotion are not planned in isolation. Marketing analysts often look at a combination of these four factors. This combination of the four Ps is known as the marketing mix. The elements of the marketing mix focus on the consumer. In order to develop a successful marketing mix, researchers first ask two important questions: Who is going to buy the product? What is the potential to sell this product?

The group of customers or consumers who will probably buy the product is known as the target market. The company directs its marketing efforts toward this group of potential customers who form the target market. Once market researchers have de­termined the target market they wish to appeal to, the company can develop an appropriate mix of product, price, placement, and promotion.

The company attempts to match consumer needs or mold consumer desires to the product being offered. For example, if the target market is "middle-class teenagers" the marketing mix might consist of the following:

Product: blue jeans Price: with the market

Placement: department store Promotion: advertisements on a "pop music"

radio station.

A successful marketing mix depends on the knowledge about consumers and their buying habits gained through market research as well as correct identification of the target market. Strategies of product, price, placement, and promotion are blended in order to reach a chosen group of consumers.

Exercise 10. Give definitions to the following terms:

1) The market mix is ...

2) The market target is ...

3) The market research is ...

Vocabulary

1. advertise - рекламировать

2. advertising - реклама

3. to be available - быть в наличие

4. campaign - кампания

5. channels of distribution - методы (способы) распределения

6. to charge the price for a product - назначать цену на продукцию

7. competition - конкуренция, конкурентная борьба

8. competitor - конкурент

9. to determine - определять

10. distribution - распределение, распространение

11. introduction to the market - введение (внедрение) в рынок

12. market-рынок

13. market mix - рыночный ассортимент, структура рынка

14. market research - исследования рынка

15. marketing-маркетинг

16. to occur - возникать, появляться

17. packaging - упаковка, обертка

18. placement-размещение

19. price-цена

20. product - продукция

21. promotion - содействие в продаже какого-либо товара

22. storage-хранение

23. target market — целевой рынок

24. transportation – транспортировка

Тема 6 Business documents An offer. Kinds of offers

An offer (a quotation) is a statement by the Sellers usually in written form expressing their wish to sell the goods. But it is not a legal document, i.e. if the Sellers for this or that reason decide not to sell, the Buyers have no legal remedy. An offer is only the first step in a contract.

Offers (quotations) will as a rule include the following information:

— the description of the goods offered (their quality, quantity),

— details of prices, discounts and terms of payment,

— the date or the time and place of delivery. There are two kinds of offers.

A free offer (sometimes called Voluntary offer) is made when Seller offers goods to regular customers without waiting for an enquiry and sends quotation to those who may be interested in the goods. These offers were formerly called offers without obligation. There must be an indication in such an offer that it is made subject to the goods being available when the order is received. The opening phrases in voluntary offers may be: « We think yon will be interested in our quotation for the goods» or «We have pleasure in closing our latest catalogue (or the price-list of our products) ».

A firm offer is a promise to supply goods on the terms stated (i.e. at a stated price and within a stated period of time. This promise may be expressed in a letter in the following words: «We make you a firm offer for delivery by the middle of May at the price quoted» or in some other qualifying' words like: «The offer is subject to acceptance within fourteen days», or «The offer is open for acceptance until the fifteenth of January».

The Sellers making a firm offer have the right to withdraw it at any time before it has been accepted. In practice, however, no reputable seller would risk his reputation by withdrawing his offer before the stated time.