Lesson 7 Marketing

1. Answer the questions:

1. How can you define marketing?

2. Is marketing just a skill to sell a product?

3. What does marketing include?

Economics Word bank

to cover costs – покрывать расходы overhead costs – накладные расходы fixed costs – постоянные расходы expenses –расходы market share – доля рынка to turn a profit – получать прибыль pricing – установление цен(ы)

to decrease – снижать(ся) to increase – повышать(ся) price sensitive - чувствительный к цене stocking – хранение (товаров) bottom line – чистая прибыль

2. Read the text and check if you understand the words in bold: Definition of marketing

The marketing is the management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing: identification, selection and development of a Product, determination of its Price, selection of a distribution channel to reach the customer's Place, and development and realisation of a Promotional strategy.

Marketing departments can be composed of several specialized areas such as product marketing, communications, sales programs, research, customer analysis, product or service data analysis, graphic design and Internet marketing.

Marketing is based on thinking about the business in terms of customer needs and wants and their satisfaction. Marketing isn’t a skill to make customers pay for your product, it develops a demand for that product and fulfilling the customer's needs.

http://www.ehow.com/

http://www.businessdictionary.com/

3. Put the words from the box in the right sentence:

fixed costs, market share, price sensitive, turn a profit, overhead costs, distribution channel, customer analysis, demand, needs

1. ... is a thing that is wanted or required.

2. ... is collection and estimation of data connected with customer needs and market trends.

3. ... is the desire of purchasers, consumers, clients, employers, etc., for a particular product, service, or other item.

4. ... is the indirect costs or fixed costs of a business that range from rent to administrative costs to marketing costs.

5. ... is the network of organisations, including manufacturers, wholesalers, and retailers, that distributes goods or services to consumers.

6. … consumer is a consumer who increases or decreases consumption of a product according to changes of its price.

7. … is costs, such as rent, that are constant whatever the quantity of goods or services produced.

8. … is the portion of a market controlled by a particular company or product.

9. If a business ..., it earns more money than it spends.

Reading

4. Read the text quickly and match the paragraphs with the following headings:

1. Know Your Competition.

2. Know Your Costs

3. Know Your Customer

4. Monitor Your Pricing

5. Overpricing

6. Underpricing