7.3. Read the text from Ex.2 with the words filled in and answer the following questions:

1. What do marketing and promotion involve? 2. Who provides the advertising copies? 3. What information can you get from the Trade Associations and Chambers of Commerce?

7.4. Find the sentences from the text which have the same meaning or express the same general idea as the sentences below:

1. The grocery market is the location where the buying and selling of food takes place.

2. Marketing used to be the job of thinking about how to sell the product.

3. Modern marketing includes many activities, but it is based on a different concept.

7.5. Match the words with their definitions:

1. Promotion	a) demand
2. Market forces	b) supply and demand
3. Stock exchange	c) customers
4. Concept	d) methods to increase sales, like advertising
5. Consumption	e) notion
6. Consumers	f) purchase
7. Desire	g) place to buy and sell shares of corporations

7.6. Choose the right variant to complete the sentences:

1. The word market can have several meanings. A person who wants to buy food uses this word to indicate …

a) standardization and grading.	b) a place where groceries are for sale.
c) sales prices.	d) supply and demand.

2. Modern marketing aims to satisfy the wants of the consumer. Marketing personnel should consider first of all …

a) how to advertise the product .	b) what products the customer desires.
c) how to distribute the product.	d) engineering problems.

3. Marketing is an important consideration for …

a) the consumer.	b) the distributor.
c) all aspects of production.	d) the salesman.

4. Demand and market forces are considered prior to production. Before designing and producing the product, companies consider …

a) the supply of consumers.	b) the desire by consumers to purchase a product.
c) distribution to consumers.	d) all the marketing activities.

8.

Market Research – the gathering of factual information as to customer preferences for goods and services.

Market Research

Market research means studying places or ways in which a company can sell its products or services, what customers and prospects need or want from a company and its products. People, who do market research, usually record about many companies which do not use their company’s products. They get the names of these companies from the salespeople. Also they do a lot of research with customers. They try to find out how customers like the products they have and what the company can do to make the things better. If the company is planning to make a new product or to change a product it is already selling, the market researchers ask customers a lot of questions. The answers are studied to try to improve the company’s product or services.

One way to get answers is to use a document called a questionnaire. It is a document with questions written or printed on it. Usually it has a number of questions, sometimes even two or more pages full of questions.

People who fill out- or answer- questionnaires are called respondents. Respondents usually write answers right on the questionnaire forms. Many times they can answer questions by making an “X” in spaces on the questionnaires. When many people answer the same questions in this way, it is possible for the market research staff to compare the answers of all the responders if they give the same answer to a question this tells the market research staff that customers agree on what they want. Companies try to design their products to give most customers and prospects what they want.

The market research staff also gets information by using surveys and interviews which are done by talking to respondents. The market researcher leads the respondent in answering questions or in giving information that is needed. In surveys and interviews, the people who respond to questions are also called subjects.

What is the difference between surveys and interviews? In conducting a survey, market researchers staff ask just a few questions of many subjects. Surveys can be done on the telephone; the survey takers can visit people at their homes. Many market research surveys are taken at railroad stations or airports.

Interviews usually take longer than surveys. The interviewer is trying to find out about the attitudes and preferences of the subject.

An important part of market researcher’s job is to find out as mush as possible about competitive products. Competitive products are items made by different companies. Pricing is important in competition. In order to get the competitive information companies may use advertising media. The information is collected and compared. Sometimes it is useful to do surveys and interviews to find out about competitive products.