Model: The Federal Trade Commission – The ftc

Федеральная торговая комиссия (США)

The American Marketing Association – Американская ассоциация маркетинга

The Organization for European Economic – Организация Европейского эко-

Cooperation номического сотрудничества

The National Economic Development Council – Совет национального экономического развития (брит);

The International Bank for Reconstruction and – Международный банк рекон-

Development струкции и развития

The International Cooperative Alliance – Международный кооперативный

альянс.

The International Chamber of Commerce – Международная торговая палата

The International Monetary Fund – Международный валютный фонд

The European Economic Community – Европейское экономическое сообщество

The United Nations Organization – Организация объединенных наций

4.1.6 Change the sentences according to the model paying attention to the Infinitive in the function of an attribute. Translate the sentences into Russian

Model: The problem is of great importance . (to be discussed here)

The problem to be discussed here is of great importance.

Проблема, которая должна быть обсуждена здесь, имеет большое значение.

All the goods will reach the target customers.

(to be produced by the company)

The product life cycle should be longer.

(to be discussed by the marketers)

The assortment and quantity of products may be different.

(to be offered to the customers)

Many industrial products will be cheaper.

(to be sold by the producer directly to final customers)

New products will meet the customer’s needs.

(to be developed)

4.1.7 Translate the following sentences into Russian introducing the Infinitive with the words: «для того, чтобы»

Model: Marketing research is used to supplement the data already available in the MIS.

Результаты исследования маркетинга используются для того, чтобы дополнить данные, уже имеющиеся в информационной системе маркетинга.

New-product planning has to be done just to survive in today’s dynamic markets.

To be able to move quickly it is useful to follow a new-product development process.

Craft guilds formed to control the quantity and quality of production.

Many drug and food products now have special seals to prevent product tampering.

4.2 Text A. Product and New-Product Development. (Read the text and try to understand it to be able to do the assignments that follow)

Product means the need-satisfying offering of a firm.

You already know that a product may be a physical good or a service or a blend of both. A good is a tangible item. When you buy it, you own it. And it’s usually pretty easy to see exactly what you’ll get. On the other hand, a service is a deed performed by one party for another. When you provide a customer with a service, the customer can’t “keep” it. Services are not physical – they are intangible. You can’t “hold” a service. Most products are a combination of tangible and intangible elements.

Competition is strong and dynamic in most markets. So, it is essential for a firm

to keep developing new products – as well as modifying its current products – to meet changing customer needs and competitor’s actions. New-product planning is not an optional matter. It has to be done just to survive in today’s dynamic markets. A new product is one that is new in any way for the company concerned. A product can become “new” in many ways. A fresh idea can be turned into a new product – and start a new life cycle. Even small changes in an existing product can make it “new”. A product can be called “new” for only a limited time. Six months is the limit according to the Federal Trade Commission (FTC) - the federal government agency that policies antimonopoly laws.

New-product development demands effort, time, and talent – and still the risks and costs of failure are high.

To be able to move quickly and also avoid expensive new-product failures, it is useful to follow an organized new-product development process which moves logically through five steps: 1) idea generation, 2) screening, 3) idea evaluation, 4) development (of product and marketing mix), and 5) commercialization. See Exhibit 7

Screening Idea Evaluation

Idea Concept Testing

Generation Rough RoI estimate Rough RoI verification

Development Commercialization

R & D Finalize product

Build model Finalize market plan

Test in market Final RoI estimate

RoI estimate Start production and

Revise product marketing plan