1.Marketing is communicating the value of a product, service or brand to customers, for the purpose of promoting or selling that product, service, or brand.
Marketing plays a vital role in economic growth in the present global world. It ensures the planned economic growth in the developing economy where the scarcity of goods, services, ideas and excessive unemployment, thereby marketing efforts are needed for mobilization of economic resources for additional production of ideas, goods and services resulting in greater employment.
2) Development of marketing is connected with sequence of its concept. The main functions of marketing are: 1. Analytical function. 2. Production function. 3. Marketing function (function of sales). 4. Function of management, communications and control.
Analytical function includes the following subfunctions: studying of the market, goods, consumers; analysis internal and environment of the enterprise. Production function consists of the following subfunctions: organization of production of new goods and new technologies, organization of material support of production, quality management and competitiveness of finished goods. Marketing function is the organization of distribution system and merchandising, formation of demand and sales promotion and the organization of service. Function of management, communications and control is connected with creation of organizational structures of management, planning, communications and the organization of control.
3) Five Must-Have Skills for Future Marketing Managers
Future marketing managers should think in terms of the following broad-based skills that can be applied to different scenarios, in different industries, and for companies large and small.
1. Critical Thinking
In a 2010 survey by the American Management Association (AMA), a majority of executives responded that they need employees with solid critical thinking skills, but the current pool of workers has not sufficiently developed them. Critical thinking, or the ability to analyze situations or statements and determine their validity, is the foundation on which modern management professionals build their careers. Critical thinking breeds creative thinking, which in turn solves problems. This is exactly what employers need from managers.
2. Project Management
In business today, you don’t have to hold the title of project manager to be one. Projects can be simple or complex, short- or long-term, but in marketing, they are increasingly happening in quick response to social media opportunities and customer engagement. Future marketing managers will need to sharpen their project management skills in order to lead their teams and accomplish their objectives.
3. Analytical Skills
Successful marketing managers have analytical minds. They know the value of the vast amount of data available today, and are highly interested in what that data can reveal about consumer behavior, efficacy of various marketing approaches and more. The best managers also know how to look beyond the data and pick up on trends and patterns that can lead to better, more successful marketing efforts.
4. Holistic Approach
Future managers will approach marketing by thinking in terms of integrated, interconnected systems, and how they affect each other. From trade show displays to Twitter feeds, it’s vitally important to see how the relationships between all parts of the marketing plan work, and to manage them effectively.
5. Technical Skills
Because technology will continue to advance and closely influence how marketing is accomplished, it will always be important for marketing managers to be tech savvy. Customer engagement will occur in more ways, and competing for their attention will mean delivering the services and information they want, through user-friendly apps and relationship-building tools. So while marketing managers will depend on technology innovators to create the tools, they must be familiar with what consumers want and how best to deliver it.
4) Marketing environment - the forces that directly and indirectly influence on organization`s capability to undertake its business.
Components of marketing environment:
- Internal environment: Forces and actions inside the firm that affect the marketing operation composed of internal stake holders and the other functional areas within the business organization. (Men, money, machinery, materials, markets, etc.)
- External environment:
* Macro environment - broad forces which shape the character of opportunities and threats. (economic factors, political factors, technological factors, socio-cultural factors).
* Micro environment - the factors in the immediate environment. (consumers, stakeholders, suppliers)
5 Components of marketing environment:
- Internal environment: Forces and actions inside the firm that affect the marketing operation composed of internal stake holders and the other functional areas within the business organization. (Men, money, machinery, materials, markets, etc.)
- External environment:
* Macro environment - broad forces which shape the character of opportunities and threats. (economic factors, political factors, technological factors, socio-cultural factors).
* Micro environment - the factors in the immediate environment. (consumers, stakeholders, suppliers)
6) The companies – the organization created in the order established by the current legislation, and which is carrying out production, performance of work, rendering services for satisfaction of public requirements and receiving arrived.
The main objective of economic activity of the enterprise is release of competitive production, and obtaining the maximum volume of profit.
In the conditions of market system of managing the enterprise becomes the main link of its realization. Creating production, best-selling in the market, it also creates workplaces, providing employment of the population.
Proceeding from organizational and legal forms of the companies share as follows:
a) the full association – association of the 2 or more persons for implementation of business activity for the purpose of generation of profit which participants personally participate in affairs of association, thus everyone bears full responsibility according to obligations of association, not only the invested capital, but also all the property.
b) limited partnership – along with one or several participants answering to creditors all the property who are internal members of society, there are others which risk within a contribution and are external participants. Affairs conduct only internal members.
c) the limited liability company – admits founded by one or several persons which authorized capital is divided into shares in the sizes determined by constituent documents.
d) association with additional responsibility – its participants answer for its obligations the deposits to the authorized capital.
e) joint-stock company – authorized society with the right of the legal entity.
7) A marketing information system (MKIS) is defined a set of procedures and methods designed to generate, analyze, disseminate, and store anticipated marketing decision information on a regular, continuous basis. An information system can be used operationally, managerially, and strategically for several aspects of marketing. A Marketing Information System can also be defined as 'a system in which marketing data is formally gathered, stored, analysed and distributed to managers in accordance with their informational needs on a regular basis' A marketing information system can be used operationally, managerially, and strategically for several aspects of marketing.
A marketing information system has four components: the internal reporting system, the marketing research systems, the marketing intelligence system and marketing models.
8) Coherence of actions of employees in the organization and with her contractors is followed by an exchange of necessary information in this or that form. The information (automated) systems are necessary only where they EVIDENTLY provide a common advantage. Or in the form of labor productivity increase, or efficiency and quality of the services provided to consumers, or decrease in their prime cost, or improvement of quality of conditions and the standard of work.
It is the stage-by-stage process demanding excellent understanding not only information technologies, but also administrative and technological tasks of the organization. He demands the current analysis and control "on a place", introduction of specifications continually.
10) Leadership has been described as "a process of social influence in which a person can enlist the aid and support of others in the accomplishment of a common task". For example, some understand a leader simply as somebody whom people follow, or as somebody who guides or directs others, while others define leadership as "organizing a group of people to achieve a common goal".
Leadership is activity by which people become aware of ways to accomplish their desired goals, affirm values which they cherish, and to develop new values and goals which are in greater accord with their current capacities and ultimate potentials.
What makes a good leader? Here are some of their most important characteristics:
-Self-Awareness. You have an intimate knowledge of your inner emotional state. You know your strengths and your weaknesses.
-Self-Direction. You’re able to direct yourself effectively and powerfully.
-Vision. You’re working towards a goal that’s greater than yourself.
-Ability to Motivate. Leaders don’t lead by telling people what they have to do.
-Social Awareness. Understanding social networks and key influencers in that social network is another key part of leadership.
11) What is the information needed by Marketing managers for day to day running of the organization? Marketing managers rely mainly on MIS systems and reports generated for the same to establish marketing plans. Thus three types of information are needed by Marketing Managers.
1) Internal company information – What is the first thing you will analyse if asked to expand the organization? It would be the strength and capability of the organization to expand. Planning an expansion without having the capacity of it is a waste of time. Thus marketing managers need to have an internal analysis to determine where does their own company stand. For these they need regular sales reports, purchase reports, margin reports, costing, customer service expenses etc. All these can be obtained through MIS and it is the first type of information a marketing manager looks for.
2) Marketing intelligence – The second kind of information which will be needed is the business environment or in other words market intelligence. The Market intelligence pertains to overall demand in the market, the potential of the market, competitors in the market etc. Generally a lot of marketing intelligence is gathered from internal sources itself such as customers, suppliers and distributors. Marketing intelligence from these sources is important to grasp any day to day changes happening in the business environment. For example – A television company will expect lots of sales in a festive environment and your distributors will probably inform you that they will be needing discount in this time. Thus during a festive environment you have to use Price discounts as a sales promotion tactic and at the same time ensure having a higher inventory of televisions. Furthermore, industry information can also be found by professional organizations such as ORG MARG and others.
3) Market Research – While internal information and market intelligence is important, the most important information which a marketing manager can receive is “What a customer wants”. Thus time to time market and consumer research is needed for new product ideas as well as expected improvement in processes. This kind of information can be expensive to gather but is worth the expense. Major changes in industries happen mainly because they are in touch with their end customers and they know what their customer wants. Furthermore, predicting how a market will respond to any changes being made in the marketing plan can be answered by your end customers only and not by your distributors and suppliers. This is why a lot of organizations conduct trial runs.
With these three information, a marketing manager has enough knowledge to go ahead with his marketing plan. If the plan fails, then he has to determine which of the above information is improper. If the marketing plan fails because of internal problems, then his internal company information was improper. If it fails because of poor support from distributors and suppliers, then his marketing intelligence was incorrect. And finally if the end customer does not accept the marketing plan then his market research was improper.
12) A group is a collection of individuals who coordinate their individual efforts. On the other hand, at team is a group of people who share a common team purpose and a number of challenging goals. Members of the team are mutually committed to the goals and to each other. This mutual commitment also creates joint accountability which creates a strong bond and a strong motivation to perform.
Without purpose and goals you cannot build a team. The purpose must be worthwhile and create a sense of doing something important together. The goals must be challenging and specific so that each member can understand how they contribute to the success of the team.
The power of a team emerges from the sense of community that develops and exerts strong influence on the attitudes and behaviors of the participants.
13) The marketing concept is the philosophy that urges organization to focus on their customers’ needs.
Need - something that a person want to have.
Goods - it is the work product created for the purpose of sale, or an exchange for other products or money.
Exchange - the act of obtaining the desired object from someone with an offer of anything in return.
Market - a set of existing and potential buyers of the goods.
Transaction - commercial exchange of values between 2 partners.
14) The marketing environment — everything that surrounds the enterprise, everything that influences its activity and the enterprise.
The marketing environment of firm — set of the subjects and forces operating outside the enterprise and influencing possibilities of the enterprise to establish and maintain successful mutually beneficial relations of cooperation with target clients.
The social and economic characterize a standard of living of the population, purchasing power of separate segments of the population and the organizations, demographic processes, stability of a financial system, inflationary processes, etc. The demographic and economic environment treat macroenvironment.
Macroenvironment (the environment of indirect influence) of marketing — set of the large public and natural factors influencing all subjects of microenvironment of marketing.
15) Advertising - is any paid form of non-personal presentation of proposals and ideas, goods and services on behalf of the well-known sponsor, as well as a form of communication that helps to translate the quality of goods and services in the language of the needs and requirements of customers. The success of advertising as an element of marketing communication is currently driven by two factors: 1) deliberate and systematic character; 2) as well as the close relationship with the process of planning, development and production of goods, the study of the demand for it, pricing and marketing. In the current market conditions in addition to informative advertising and began to carry out communicative function, providing "feedback" production with the market and the buyer by the maximum process control the movement of goods. The hallmark of modern advertising as an element of marketing is not just a demand generation and its management within a select group of customers. This was possible because the market is a set of segments, reflecting specific tastes and demands of consumers. The goal of firms is to maximize the penetration of the selected segments in order to avoid fragmentation of efforts throughout the market.
16) The marketing environment — everything that surrounds the enterprise, everything that influences its activity and the enterprise.
The marketing environment of firm — set of the subjects and forces operating outside the enterprise and influencing possibilities of the enterprise to establish and maintain successful mutually beneficial relations of cooperation with target clients. Political and legal environment treat macroenvironment.
Political factors characterize the level of stability of a political situation, protection of interests of businessmen by the state, its relation to various forms of ownership, etc.
The legal — characterize legislative system, including normative documents on protection of surrounding environment, standards in the field of production and consumption of production. Here the acts directed on consumer protection belong; legislative restrictions on carrying out advertizing, on packing; various standards influencing characteristics of the let-out products and materials of which they are made.
17) Marketing research is "the process or set of processes that links the consumers, customers, and end users to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process. Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications."
It is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal of marketing research is to identify and assess how changing elements of the marketing mix impacts customer behavior. The term is commonly interchanged with market research; however, expert practitioners may wish to draw a distinction, in that market research is concerned specifically with markets, while marketing research is concerned specifically about marketing processes.
Marketing research is often partitioned into two sets of categorical pairs, either by target market:
Consumermarketingresearch, and
Business-to-business (B2B) marketing research
Or, alternatively, by methodological approach:
Qualitativemarketingresearch, and
Quantitativemarketingresearch
Consumer marketing research is a form of applied sociology that concentrates on understanding the preferences, attitudes, and behaviors of consumers in a market-based economy, and it aims to understand the effects and comparative success of marketing campaigns. The field of consumer marketing research as a statistical science was pioneered by Arthur Nielsen with the founding of the ACNielsen Company in 1923.
Thus, marketing research may also be described as the systematic and objective identification, collection, analysis, and dissemination of information for the purpose of assisting management in decision making related to the identification and solution of problems and opportunities in marketing.
18) Negotiating is an integral ingredient of the selling process. However, problems can occur when salespeople don't know when and how to shift into the negotiating mode. They must recognize the difference between selling and negotiating and then make the move when the timing is right.
The fundamental difference between selling and negotiation is that selling is a process to identify the fit between what the seller is offering and what the buyer is seeking.
Negotiation is the process of agreeing the terms of the deal and is part of the selling continuum. Yet the negotiation should only begin when there is a genuine commitment from the buyer and seller towards a conditional sale.
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20) Depending on a type of a product distinguish three types of marketing: marketing of goods of production appointment, marketing of goods of individual consumption, marketing of services.
Depending on a concrete situation from the point of view of a condition of demand distinguish the following types of marketing: conversion, stimulating, developing, the remarketing, a sinkhromarketing supporting, the demarketing counteracting.
Conversion marketing takes place with negative demand i.e. when the most part of consumers rejects these goods. In these conditions the main objective of services of marketing is scheduling of the marketing directed on stimulation of demand for these goods.
The stimulating marketing is connected with existence of goods on which there is no demand because of absolute indifference of buyers. Development of such plan of marketing which would consider the reasons of this phenomenon and action for its overcoming becomes a task of marketing specialists.
The developing marketing is connected with the formed demand, is used in the presence of a potential demand for its transformation into real demand.
The supporting marketing is used when supply and demand correspond each other. In this case it is necessary to pursue the careful, thought-over policy directed on maintenance of the status quo. For example, it isn't necessary to establish imprudently the prices above, than at competitors.
The counteracting marketing is used for decrease in demand which from the point of view of the consumer and society is irrational (for example, alcoholic drinks, tobacco products).
If the demarketing is directed on decrease in demand for good-quality goods, the counteracting marketing - on reduction or the termination of release of undesirable, harmful goods.
21)
22) The organizational structure of marketing activity at the workplace can be defined as a design of the organization on the basis of which control of marketing is exercised, in other words is a set of services, departments, divisions which part the workers who are engaged in this or that marketing activity are.
One of the basic principles of the organization of management of marketing is the maximum approach of places of adoption of marketing decisions to divisions where are engaged in practical marketing.
Main types of organizational structures of service of marketing at the workplace are:
- functional organization of service of marketing;
- commodity organization of service of marketing;
- market organization of service of marketing;
- product-market (matrix) organization of service of marketing
23)
24) Consumer Behaviour is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. It blends elements from psychology, sociology, socialanthropology, marketing and economics. It attempts to understand the decision-making processes of buyers, both individually and in groups such as how emotions affect buying behaviour. It studies characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, sports, reference groups, and society in general.
Customer behaviour study is based on consumer buying behaviour, with the customer playing the three distinct roles of user, payer and buyer. Research has shown that consumer behaviour is difficult to predict, even for experts in the field.[4] Relationship marketing is an influential asset for customer behaviour analysis as it has a keen interest in the re-discovery of the true meaning of marketing through the re-affirmation of the importance of the customer or buyer. A greater importance is also placed on consumer retention, customer relationship management, personalisation, customisation and one-to-one marketing. Social functions can be categorized into social choiceand welfare functions.
25) Size, structure and dynamics of consumer demand on a limited budget in microeconomics theory examines consumer behavior based on marginalism. Its source is the recognition of the principles of, firstly, the economic sovereignty of the consumer (ie. E. The possibility to influence the supply of goods through demand) and, secondly, the rationality of consumer behavior, if he gets the maximum utility with limited income. Usefulness - the degree of satisfaction (satisfaction) of the consumption goods. The usefulness of the goods - the concept of a purely personal, which depends on many factors.The main factors influencing consumer behavior, shown in Figure 24. If consumer tastes are constant and the consumption function is continuous, then any infinitesimal increase in the quantity of goods Q corresponds to the increase in the overall usefulness of TU. However, it increases all at a slower pace due to the fact that the marginal utility of the product MU (or added value brought by the last unit) tends to decrease. The law of diminishing marginal utility can be represented by the following table.
26) What is the information needed by Marketing managers for day to day running of the organization? Marketing managers rely mainly on MIS systems and reports generated for the same to establish marketing plans. Thus three types of information are needed by Marketing Managers.
1) Internal company information – What is the first thing you will analyse if asked to expand the organization? It would be the strength and capability of the organization to expand. Planning an expansion without having the capacity of it is a waste of time. Thus marketing managers need to have an internal analysis to determine where does their own company stand. For these they need regular sales reports, purchase reports, margin reports, costing, customer service expenses etc. All these can be obtained through MIS and it is the first type of information a marketing manager looks for.
2) Marketing intelligence – The second kind of information which will be needed is the business environment or in other words market intelligence. The Market intelligence pertains to overall demand in the market, the potential of the market, competitors in the market etc. Generally a lot of marketing intelligence is gathered from internal sources itself such as customers, suppliers and distributors. Marketing intelligence from these sources is important to grasp any day to day changes happening in the business environment. For example – A television company will expect lots of sales in a festive environment and your distributors will probably inform you that they will be needing discount in this time. Thus during a festive environment you have to use Price discounts as a sales promotion tactic and at the same time ensure having a higher inventory of televisions. Furthermore, industry information can also be found by professional organizations such as ORG MARG and others.
3) Market Research – While internal information and market intelligence is important, the most important information which a marketing manager can receive is “What a customer wants”. Thus time to time market and consumer research is needed for new product ideas as well as expected improvement in processes. This kind of information can be expensive to gather but is worth the expense. Major changes in industries happen mainly because they are in touch with their end customers and they know what their customer wants. Furthermore, predicting how a market will respond to any changes being made in the marketing plan can be answered by your end customers only and not by your distributors and suppliers. This is why a lot of organizations conduct trial runs.
With these three information, a marketing manager has enough knowledge to go ahead with his marketing plan. If the plan fails, then he has to determine which of the above information is improper. If the marketing plan fails because of internal problems, then his internal company information was improper. If it fails because of poor support from distributors and suppliers, then his marketing intelligence was incorrect. And finally if the end customer does not accept the marketing plan then his market research was improper.
27) Market segmentation is to divide the market into distinct groups of customers (market segments), which may require different products and to which you want to apply different marketing efforts. Possible to identify some "basic" methods of segmentation. The most important of these is the cluster analysis of consumers (taxonomy). Clusters of consumers formed a union in the group of those who give similar answers to the questions. Buyers can be combined into a cluster if they are of similar age, income, habits, etc. The similarity between buyers based on different gauges, but often used as a measure of similarity weighted managed to square the differences between the responses of customers to a question. Output clustering algorithms can be hierarchical trees or association of consumers in the group. There are quite a large number of cluster algorithms.
28) The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.
Few companies are big enough to supply the needs of an entire market; most must breakdown the total demand into segments and choose those that the company is best equipped to handle.
Four basic factors that affect market segmentation are
clear identification of the segment,
measurability of its effective size,
its accessibility through promotional efforts, and
its appropriateness to the policies and resources of the company.
The four basic market segmentation-strategies are based on
behavioral,
demographic,
psychographic, and
geographical differences.
29) The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demandc haracteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.
Few companies are big enough to supply the needs of an entire market; most must breakdown the total demand into segments and choose those that the company is best equipped to handle.
Four basic factors that affect market segmentation are
clear identification of the segment,
measurability of its effective size,
its accessibility through promotional efforts, and
itsappropriateness to the policies and resources of the company.
The four basic market segmentation-strategies are based on
behavioral,
demographic,
psychographic, and
geographical differences.
30) The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment.
Few companies are big enough to supply the needs of an entire market; most must breakdown the total demand into segments and choose those that the company is best equipped to handle.
Four basic factors that affect market segmentation are
1.clear identification of the segment,
2.measurability of its effective size,
3.its accessibility through promotional efforts, and
4.its appropriateness to the policies and resources of the company.
The four basic market segmentation-strategies are based on
1.behavioral,
2.demographic,
3. psychographic, and
4.geographical differences.
31) The enterprise market is a set of the persons and the organizations buying goods for their use further in production for resale or redistribution.
There are three kinds of the market of the enterprises: commodity market of industrial function; market of intermediate sellers; market of public institutions.
The commodity market of industrial function represents the consumers acquiring goods and services which, in turn, are used by production of other goods and services.
The market of intermediate sellers (the wholesale market) is a set of the persons and the organizations acquiring goods for resale or their delivery in rent. Those are the wholesale organizations of retail trade.
Market of public institutions. It includes the organizations of the federal government, the governments of the regional educations and local authorities buying or renting the goods necessary for them for performance of the main functions.
32) The enterprise market is a set of the persons and the organizations buying goods for their use further in production for resale or redistribution.
There are three kinds of the market of the enterprises: commodity market of industrial function; market of intermediate sellers; market of public institutions.
The commodity market of industrial function represents the consumers acquiring goods and services which, in turn, are used by production of other goods and services.
The market of intermediate sellers (the wholesale market) is a set of the persons and the organizations acquiring goods for resale or their delivery in rent. Those are the wholesale organizations of retail trade.
Market of public institutions. It includes the organizations of the federal government, the governments of the regional educations and local authorities buying or renting the goods necessary for them for performance of the main functions.
33) Stages of Segmentation
1. Identify the target market
The first and foremost step is to identify the target market. The marketers must be very clear about who all should be included in a common segment. Make sure the individuals have something in common. A male and a female can’t be included in one segment as they have different needs and expectations.
2. Identify expectations of Target Audience
Once the target market is decided, it is essential to find out the needs of the target audience. The product must meet the expectations of the individuals. The marketer must interact with the target audience to know more about their interests and demands.
3. Create Subgroups
The organizations should ensure their target market is well defined. Create subgroups within groups for effective results.
34) The consumer market is the individuals and households buying goods or services for personal consumption. Factors have a great influence on behavior of the buyer upon purchase of goods cultural (culture, subculture, a social status), social (reference groups, a family, roles and the statuses), personal (age, sex, a way of life, etc.) and psychological (motivation, perception, assimilation, belief, the relations) character.
35)
36) A strategy is a long-term plan to achieve certain objectives. A marketing strategy is therefore a marketing plan designed to achieve marketing objectives. For example, marketing objective may relate to becoming the market leader by delighting customers. The strategic plan therefore is the detailed planning involving marketing research, and then developing a marketing mix to delight customers. Every organization needs to have clear marketing objectives, and the major route to achieving organizational goals will depend on strategy.
Selection of the target market segments - an assessment and selection of one or several segments of the market for an exit to them with the goods.
37) Selection of the target market segments - an assessment and selection of one or several segments of the market for an exit to them with the goods.
The selection of target markets is the second major phase of the STP process, as shown in the diagram below. (Where STP stands for segmentation, targeting and positioning.)
As shown, firms initially segment the market and, as part of this process, construct segment profiles for each segment. Included in a segment profile is a detailed description of the segment, along with various size and profit measures. Using this information in conjunction with the firm’s strategy, resources and goals organization appropriate target markets can then be selected.
The selection of a target market is a very important decision for a firm as it then requires significant effort and commitment to implement an appropriate and targeted marketing mix. Target market selection is a key part of marketing strategy and typically involves significant analysis, discussion and review throughout the firm.
38) The consumer market is the individuals and households buying goods or services for personal consumption. Factors have a great influence on behavior of the buyer upon purchase of goods cultural (culture, subculture, a social status), social (reference groups, a family, roles and the statuses), personal (age, sex, a way of life, etc.) and psychological (motivation, perception, assimilation, belief, the relations) character. 39)
40) In economics, goods and services are the outcome of human efforts to meet the wants and needs of people. Economic output is divided into physical goods and intangibleservices. Goods are items that can be seen and touched, such as books, pens, salt, shoes, hats, and folders. Services are provided by other people, such as doctors, lawn care workers, dentists, barbers and waiters. Consumption of goods and services is assumed to provide utility (satisfaction) to the consumer.
A GOOD is an object people want that they can touch or hold. A SERVICE is an action that a person does for someone else. Examples: Goods are items you buy, such as food, clothing, toys, furniture, and toothpaste. Services are actions such as haircuts, medical check-ups, mail delivery, car repair, and teaching. Goods are tangible objects that satisfy people's wants. Services are actions, such as haircuts and car repair, which also satisfy people's wants. A key point to emphasize to young children is that goods and services must be produced - they don't appear magically on store shelves. Similarly, they are produced using scarce productive resources (natural, human, and capital); thus, the goods and services themselves are considered scarce.
41) In economics, goods is the outcome of human efforts to meet the wants and needs of people. Economic output is divided into physical goods and intangible services. Goods are items that can be seen and touched, such as books, pens, salt, shoes, hats, and folders. Services are provided by other people, such as doctors, lawn care workers, dentists, barbers and waiters. Consumption of goods and services is assumed to provide utility (satisfaction) to the consumer.
A GOOD is an object people want that they can touch or hold. Examples: Goods are items you buy, such as food, clothing, toys, furniture, and toothpaste. Goods are tangible objects that satisfy people's wants. Services are actions, such as haircuts and car repair, which also satisfy people's wants. A key point to emphasize to young children is that goods and services must be produced - they don't appear magically on store shelves. Similarly, they are produced using scarce productive resources (natural, human, and capital); thus, the goods and services themselves are considered scarce.
42) In economics, goods and services are the outcome of human efforts to meet the wants and needs of people. Economic output is divided into physical goods and intangibleservices. Goods are items that can be seen and touched, such as books, pens, salt, shoes, hats, and folders. Services are provided by other people, such as doctors, lawn care workers, dentists, barbers and waiters. Consumption of goods and services is assumed to provide utility (satisfaction) to the consumer.
A GOOD is an object people want that they can touch or hold. A SERVICE is an action that a person does for someone else. Examples: Goods are items you buy, such as food, clothing, toys, furniture, and toothpaste. Services are actions such as haircuts, medical check-ups, mail delivery, car repair, and teaching. Goods are tangible objects that satisfy people's wants. Services are actions, such as haircuts and car repair, which also satisfy people's wants. A key point to emphasize to young children is that goods and services must be produced - they don't appear magically on store shelves. Similarly, they are produced using scarce productive resources (natural, human, and capital); thus, the goods and services themselves are considered scarce.
43) The commodity policy is the central link of activity of the enterprise since by means of goods the main goal of firm – receiving profit is achieved. The purpose of commodity policy — to achieve the balanced commodity range and competitiveness of each separate product, and also:
· providing profit;
· increase in commodity turnover;
· increase in a share of the market;
· decrease in expenses on production and marketing;
· image increase;
· dispersion of risk.
Problems of commodity policy – decision-making in the field of the goods offered by the enterprise concerning products, their presence in the market, and also decisions on the production program connected with it.
44) The commodity policy is connected with realization in practice of the first element of a complex of marketing - a product (goods). It provides the solution of the tasks connected by what to make for whom to make in what look to make etc. The main feature of commodity policy in marketing is its orientation on satisfaction of needs of buyers. External need of buyers, but not internal production capabilities of firm is primary here. Thus the concept "quality of goods" is at the first place in commodity policy. One of the main functions of commodity policy consists in revealing (or to create) an imbalance between the real and perceived quality of goods, having turned it into a source of receiving arrived. Therefore the commodity policy has essential distinctions in consumer and industrial marketing.
45) ConceptofMoney
Our monetary system developed to meet the changing needs of the economy.
Primitive economies consisted largely of self-sufficient units or groups that lived by means of hunting, fishing, and simple agriculture.
There was a need to exchange goods and services.
Money
-as anything authorized by law.
-generally accepted as medium of exchange.
-one form in which we keep our wealth.
-As defined by Farlex Dictionary, Money is a Currency and coin that are guaranteed as legal tender by the government.
ImportanceofMoney
Moneysimplifiesmatters.
Money becomes the medium of exchange.
With money, there is low-uncertainty-high-exchangeability requirement.
Money also contributes to economic development and growth.
Money is a store of value.
FunctionsofMoney
As a medium of exchange.
Unit of account or standard of value.
Storeofvalue
Standardofdeferredpayment.
46) In the international marketing the price policy is based on the same factors that determine the price and in domestic market - expenses, demand and the competition. Feature of pricing in the international marketing consists in need of the accounting of such specific factor, as degree of freedom of the seller in the field of establishment of the prices. Action of this factor is caused by possible intervention of the governments by administrative control of the prices. Besides, complexity of pricing in the international marketing is defined also by that the price here - size essentially unstable. Besides the listed four factors influence it a cycle in which there is a world economy; market condition; variable exchange rates. Therefore firms consider that for success in a foreign market it is necessary to correct price policy as required.
There are three main objectives of pricing:
• increase in a share of the market;
• increase in profit;
• deduction of the existing positions.
47) Price - element inherent in any type of economy based on commodity-money relations, as mediates them, but the prices are formed and operate in different systems in different ways. Since price is one of the levers of control processes in the economy, it is closely related to the type of management - pricing methodology, properties, functions and prices correspond to the mechanism of functioning management system. In a market economy, each company and its owners are taking their own production and economic decisions: what, where, when and how much to produce, to whom, at what price and on what terms to sell. Communication between businesses free, so labor, material and financial resources (as part of the total resources of society) are included in the production process owners of enterprises, respectively, they are responsible for all decisions and actions. Mechanism of regulation of enterprises is based on the use of economic instruments, such as financial and credit system, tax, customs, investment and fiscal policies, so the market economy requires a completely different pricing: principles and models are qualitatively different prices - price plays a major role structure is determined is The Heart of market self-regulation and is characterized by the following points.
48) The product life-cycle is a series of different stages a product goes through, beginning from its introduction into the market and ending at its discontinuation and unavailability.
The product life cycle has 4 very clearly defined stages:
Introduction Stage – in this stage, the firm seeks to build product awareness and develop a market for the product.
Growth Stage - in this stage, the firm seeks to build brand preference and increase market share.
Maturity Stage - at maturity, the strong growth in sales diminishes. Competition may appear with similar products. The primary objective at this point is to defend market share while maximizing profit.
Decline Stage - in this stage, decline in sales, change in trends and unfavorable economic conditions explains decline stage. At this stage market becomes saturated so sales declines. It may also be due technical obsolescence or customer taste has been changed.
49) For firms operating in a market economy, is crucial information about the product life cycle. With information about the stages of the product life cycle, the company can make an appropriate decision on the development of consumer properties (improvement) of the goods, or removal to another market or discontinued. Currently, there is a great diversity of definitions of "life cycle" of the goods. The analysis revealed three definitions approach to defining the product life cycle. Some authors consider the product life cycle as "a period of time during which the product is in demand and revenue."
50) My future profession is accounting and auditing. Accountancy profession is one of the most ancient in the world. It appeared 6000 years ago, when primitive people began to control and register their economic activity. The ancient Egypt is considered to be a motherland of accounting. And Ancient Greece is well-known as a birthplace of accounting tools as abacus, just there the first money and coins were created.
In the early 90, when the privatization and various types of ownership forms widely spread, accounting became the most popular specialty, and now it is in high demand. Neither huge company and factory nor shops and banks can't work without accountant. The accountant does the work of the various types of accounting: accounting of fixed assets, the cost of production, payment to suppliers and customers, payroll and taxes. Accountant can work in enterprises of different ownership forms: public, shareholder, cooperative, private, carries out work on various types of accounting.
I think that the best candidate for this profession is a person who has such skills as responsibility, attentiveness, also he needs not to forget about good memory and logical thinking, he should be good at math and of course to be keen on accounting.
51) Most people like animals. They keep animals at home as pets. Pets may be different. People like dogs and cats, birds and hamsters, rabbits and hedgehogs, some people even like snakes. But you can't keep any animals as a pet even if you like him very much. Can a crocodile make a good pet? Or a lion, or a tiger, or a bear? You may love them, but will they love you? Some day when they are big they may become dangerous. As for me, I prefer dogs. They are so clever and truthful. When they look at you with their beautiful eyes it seems to you that they understand you but can't talk. People teach dogs to understand commands, to do some tricks. And it think dogs teach people to be kinder, to think of others. People change for better when they keep pets. Sure, pets need much care. You must keep the place where they sleep and eat tidy and clean, you must give them three meals a day. Dogs need more attention and care than cats. You must take then for walks at least two times a day.
52) Dry-cleaner (dry cleaning), professional dry cleaning — physical and chemical process of cleaning of products of textile materials with use of organic solvents. A basic purpose of dry cleaning — removal of dirt and spots which don't give in to cleaning at usual washing.
For the first time use of oil products for cleaning of clothes was offered the owner of a dye-house Jean Baptiste Joly (France, 1855). He noticed that the cloth in his house became purer after the maid spilled on it kerosene. Joly opened the very first dry-cleaner where cleared clothes kerosene.
In the beginning for a dry-cleaner oil products like gasoline and kerosene were used. Their easy inflammability led to the frequent fires and explosions. Problems of fire danger forced William Joseph Stoddard, the specialist in dry cleaning from Atlanta, to invent Stoddard's solvent. Its inflammability was much less, than at oil products.
After World War I started using various chlorinated solvents — they are less flammable, than oil products, and delete pollution better.
To the middle of the 1930th in dry cleaning started using tetrachlorethylene (tetrachloroethylene) as the standard of ideal solvent — it is steady, not flammable and excellently deletes pollution, practically without causing damage to clothes.
53) The origin of tourism can be considered ancient times. In ancient times as tourism it was accepted to consider trade, education, pilgrimage, treatment. In Ancient Greece also sports trips (Olympic Games) arose.
Tourism (from French - walk, a trip) arose as a product of development of a civilization. Tourism is first of all pleasure. Tourism in representation of most of people is connected with rest, new impressions, pleasure. It strongly entered human life with its natural aspiration to open and learn novel edges, nature sanctuaries, stories and cultures, customs and traditions of the different people.
It is less known that tourism is one of the largest highly profitable and most dynamic branches of economy. In the sphere of tourism over 250 million people, i.e. every tenth worker in the world are occupied. 7% of total amount of investments, 11% of world consumer expenses, 5% of all tax revenues and a third of world trade by services fall to its share. Tourism has huge impact on such key sectors of economy as transport and communication, trade, construction, agriculture, production of consumer goods and many others, acting as the catalyst of social and economic development. According to forecasts of experts the XXI century will become a century of tourism.
There are a lot of classification of tourism. First of all distinguish outbound, entrance and internal tourism.
Outbound tourism — is connected with movement of citizens of one country for another. Internal tourism — movement of tourists in one country. Entrance tourism — entrance of foreigners on the state territory. Depending on criterion by which travel is estimated, it is possible to allocate a set of classifications.
Tourism at the present stage in the Republic of Kazakhstan at a stage of rapid growth. A main objective of development of tourism in Kazakhstan is creation of a modern highly effective and competitive tourist complex, to integration into system of the world tourist market and development of further international cooperation in tourism.
54) Medicine (Latin medicina) — system of the scientific knowledge and practical measures united by the purpose of recognition, treatment and the prevention of diseases, preservation and promotion of health and working ability of people, extensions of life - with the right of refusal of treatment if threatens nothing to human life.
The word "medicine" comes from the Latin phrase ARS medicina — "medical art", "healing art" — and has the same root, as medeor verb, I "cure".
Asclepius is considered God of medicine and doctoring.
55) A cleaner is a type of industrial or domestic worker who cleans homes or commercial premises for payment. Unlike other servants, their primary task is cleaning. Cleaners may specialise in cleaning particular things or places, such as window cleaners. Cleaners often work when the people who otherwise occupy the space are not around. They may clean offices at night or houses during the workday.