Vocabulary focus

Ex. 1. Find the words in the text which mean the following.

1. failure to fulfill an obligation

2. to be equivalent to in number, size, significance

3. come up or out into view, appear become apparent

4. very simple, naïve

5. an agency, distributor or market of goods

6. each of several parts into which a thing is or can be divided

7. done by chance, random

Ex. 2. Fill the gaps in the sentences, using the words from the list.

creative process hire purchase opportunities price range weaknesses

design image outlets product rival

distribution labels patterns production-oriented satisfy

end-users mail order place profitably strengths

first need posters promotion threats

1. What is marketing? Marketing is the … of satisfying customer needs …

2. What is “the marketing mix”? It consists of “the four P’s”: providing the customer with the right P … at the right P … presented in the most attractive way (P …) and available in the easiest way (P …).

3. What is “a product”? A product is not just an assembled set of components: It is something customers buy to … a … they feel they have. The … and the … of the product are as important as its specification.

4. What is “price”? The product must be priced so that it competes effectively with … products in the same market.

5. What is “promotion”? The product is presented to customers through advertising (TV commercials, … etc), packaging (design, … etc.), publicity, P.R. and personal selling.

6. What is “place”? Your product must be available to customers through the most cost-effective channels of … . A consumer product must be offered to … in suitable retail … or available on … or by … .

7. What is meant by “S.W.O.T.”? A firm should be aware of its S … and W … and the O … and T … it faces in the market place.

8. Why are firms becoming more customer-oriented and less …? Because new products must be created to meet the changing … of customers’ needs – a firm can’t rely on the success of its existing … of products. The customer and his or her needs must come … .

Comprehension

Ex. 1. Find in the text the definitions of the following:

The marketing environment (SWOT), the marketing objective, the marketing methods.

Ex. 2. Answer the following questions:

1. Why do you think small firms cannot avoid marketing?

2. Why do managers of small firms do not want to do market research?

3. What is the difference in the marketing style of small firms to larger organizations?

4. What are the main components of a marketing plan?

Ex. 3. In groups of three or four discuss:

1. your local firms’ strengths and weaknesses;

2. which of the opportunities and threats innumerated below firms in your region face in the next two to three years:

• competition from other local firms or from other regions;

• rise or fall in demand;

• changes in customers’ tastes and buying habits;

• higher wages and salaries;

• customers becoming more price-conscious, or more quality-conscious;

• cheaper, or better quality, imported goods;

• new technology.

Ex. 4. Speak about the importance of a marketing plan for both small and big firms and organizations.

T E X T 3