3 курс 4 группа гос англ

Marketing

Vocabulary notes

Performance	виконання
Consumer	споживач
Welfare sector	соціальний сектор
Hospitality industry	індустрія гостинності
Tangibility	відчутність
Warranty	гарантія
To provide service	надавати послугу
Competition	конкуренція
Supply	постачати
Reasonable	помірний
Discourage	заважати
Costs	витрати
Intermediary	посередник
Public relations	зв’язки з громадськістю

Marketing is the performance of business activity directed toward the flow of goods/services from producer to consumer/user. Marketing has a role to play in both profit and welfare sectors of hospitality industry. It has become customary to consider the marketing mix as the Four P’s — product, price, placement and promotion.

PRODUCT

The main difference between a product and a service has to do with its tangibility or intangibility. Features, which are tangible such as size, color, flavor, odor, quality, name, and intangible like image, warranty, guarantee.

Today the satisfaction of the customers depends mot only on the tangible products but also on the welcome, in substance on the whole attitude of those providing the service.

PRICE

This will be based on the price of the competition. The following concurrence oriented price setting methods exist:

- me- too pricing - prices are based upon the average price level of the competitors;

- stay-out pricing - existing large suppliers use a price level which will just ensure a reasonable profit but which discourage new competitors as they will encounter large starting costs;

- put-out pricing - this kind of price setting could be called as price war, pricing is so low that :many competitors are forced of the market.

PLACEMENT

Location is undoubtedly an important marketing mix instrument. When choosing a location one should consider three levels, choosing the area, choosing the town or village within this area and choosing the building in this town or village. The common channel of distribution of product is: producer - intermediary - consumer, but because of the intangible nature of service direct sale is the only possible channel of distributing of it.

PROMOTION

The communication about the product/service takes place between buyer/user and seller/provider. This communication is known as promotion and may involve such activities as personal selling, advertising (on TV, radio, through printed messages, by Internet), direct mail, sales promotion, public relations and sponsorship.

As a manager you will need to become familiar with marketing and should realize you cannot satisfy all customers, you have to choose your customers.

Today’s marketing is not simply a business function. It is a philosophy, a way of thinking and a way of structuring your business and your mind.