IV. Use the correct noun or verb forms is the sentences. Change the grammatical form of the words if necessary

– identify

Market researchers ______ the target market for a particular product.

When an employee joins a large company, he or she is given an_______

card.

– promote

Advertising agencies are concerned with ______ of a product.

Last week the boss ______ John because of his outstanding work in the accounting department.

– compete

In the marketplace business ______ with each other.

Sony is a major ______ of General Electric.

– determine

The combination of the four P’s ______ the marketing mix.

An accountant makes an accurate ______ of the expenses of a company.

– isolate

Strategies of product, price, placement, and promotion are not planned in ______ .

The company doctor ______ the sick employee in the room at the end of the hall.

V. Determine which of the following statements are true and which are false. Correct those statements which are false by rewriting them

1. Knowledge about consumer buying habits is essential in developing a successful marketing mix.

2. The company focuses on production in its marketing strategy.

3. Product and promotion combine to form the complete marketing mix.

4. The company directs its marketing efforts toward the target market.

5. The marketing strategies of product, price, placement, and promotion are planned separately.

VI. Complete the following sentences

The marketing strategies of determining product, ______ , placement and promotion are not planned in ______ . Marketing analysts often look a at combination of ______ . This combination of the four P’s is known as ______ . The elements of the ______ focus on the customer. The group of customers or consumers who will probably buy the product is known as the ______ . The company directs its marketing efforts toward this group of ______ who form the target market. The company attempts to match ______ or mold consumer desires to the product being offered.

7. Answer the following questions

1. What is the market mix?

2. What do the elements of the marketing mix focus on?

3. What is the group of customers who will probably buy the product known as?

4 Why are the consumers who make up the target market for a product referred to as “potential” customers?

5. What does a successful marketing mix depend on?

6. In the example of middle-class teenagers as the target market for blue jeans, in what other places the product be sold? What other types of promotion could be used?

7. If the target market for blue jeans were factory workers, how would the marketing mix change?

VIII. Determine the marketing mix that you think would the successful for this particular group of consumers (target market)

a. Target market: upper-income, middle-aged adults

Product: Rolls-Royce

Price: _______________

Placement: ___________

Promotion: ___________

b. Target market: small restaurants

Product: microwave ovens

Price: _______________

Placement: ___________

Promotion: ___________

c. Target market: teenagers

Product: tennis shoes

Price: _______________

Placement: ___________

Promotion: ___________