Questions:

1. What is the name of your faculty?

2. What is the name of your speciality?

3. What is the work of Goods Managers connected with?

4. What types of Goods Managers do you know?

5. What kinds of Foodstuffs are there in the world?

6. What do Goods Managers of Food Products study?

7. What is important to know for Goods Managers of Food Products?

8. What does it mean “to be a qualified manager”?

Vocabulary:

spice – приправа

starch – крохмаль

confectionary – кондитерські вироби

demand for the goods – попит на товари

MARKET

An area where there is a demand for certain goods is called a market. Or in other words, a market is a set of arrangements by which buyers and sellers are in contact to exchange goods and services. Goods sold in the country as they are produced are sold on a domestic market. A country which sells goods abroad is an exporter. Am importer buys goods abroad and imports them into his own country.

There are a lot of markets: stock market, money market, labour market, etc. Some markets, shops and stalls physically bring together the buyer and the seller. Other markets, Stock Exchange for example, operate chiefly through intermediaries (stockbrokers) who transact business on behalf of clients. Both of them determine prices that ensure that quantity people wish to buy equals the quantity people wish to sell.

All trade depends on supply (having goods and services to sell) and demand (consumers, people who want to buy). If you increase the production but demand remains stable, the price will fall. Therefore many large suppliers do not produce to their maximum capacity. They put a ceiling on their output to keep the price high.

Market conditions are constantly changing, that is why a flexible strategy is needed to take into account the market conditions. Strategy depends on short-term and long-term objectives. The percentage of the total of one kind of goods sold by one company or country is called its market share. Greater market share means greater profits in the future. Gaining market share is always connected with the production. So we can see that market is sensitive to prices, production, employment, inflation and political events in any country. It reflects any change in the economy.

Questions:

1. What is “a market”?

2. What is a domestic market?

3. What is an exporter?

4. Where does an importer buy and sell goods?

5. What does all trade depend on?

6. What kinds of markets do you know? How do they operate?

7. What is needed to take into account market conditions?

8. What is a market share?

9. What is market share connected with?

10. What are the factors the market is sensitive to?

Vocabulary:

demand for goods – попит на товар

domestic market – внутрішній ринок

stock market – фондова біржа

on behalf of – від імені, за дорученням

supply – пропозиція

demand – попит

market share – частка ринку

Marketing and promotion

Marketing is an activity that includes different kinds of business dealings with the movement of goods and services from producer to consumer. It is a very complex process. It includes such activities as product planning, storage, buying, pricing, promotion, selling, traffic, distribution of ideas and research. The aim of marketing is to find out what the other person wants and then manufacture it for him. Those who produce must know what goods and services, where, for what prices, why, for what purpose their customers would like to buy. Marketing research in this respect helps producers very much. It’s done by the way of market segmentation. Every market can be divided into segments or, in other words, into separate groups of consumers. First, there are demographic factors like age, income, educational background, occupation, size of family, type of home and neighborhood, etc. then there are psychographic factors – the customer’s opinions and interests, hobbies, vacation spots, favorite spots, etc.

The ABC of marketing is so-called Marketing Mix. It consists of 4 elements: product, price, place and promotion. Place means the location of certain goods and services and their distribution.

Promotion includes all kinds of communications in marketing: advertising, sales, direct mail, fairs and exhibitions, etc. The primary objectives of promotion are to inform potential customers of existence of certain goods and services, to demonstrate their advantages and to persuade the consumer to buy them.

The third element of Marketing Mix is Product. It is often connected with research and development of a new product or service, testing it, searching the potential markets and introduction to the market. Product is the most controllable of the 4 elements of Marketing Mix. The most changeable element of all the 4 is Price. As prices rise, we can buy fewer things and only things of lesser quality; on the contrary, as prices fall, customers can buy more things or things of better quality.