- •ВВЕДЕНИЕ
- •PART I
- •Unit 1
- •Text A. About Myself
- •Text B. What is Economics?
- •Grammar
- •Unit 2.
- •Text A. My Friend Tatiana
- •Text В. Definitions of Economics
- •Grammar
- •Unit 3.
- •Text A. My Family
- •Text B. Three Types of Economists
- •Unit 4.
- •Text A. My University
- •Text B. Economics at the University of Cambridge
- •Grammar
- •Unit 5.
- •Text A. The Russian Federation
- •Text В. Economy of Russia
- •Grammar
- •Unit 6.
- •Text A. The United Kingdom of Great Britain and Northern Ireland
- •Text B. Economy of the United Kingdom
- •Unit 7.
- •Text A. American Values
- •Text B. American Economy
- •Grammar
- •Unit 8.
- •Text A. Australia
- •Text В. Economy of Australia
- •Grammar
- •Unit 9.
- •Text A. What Jobs Do Economics Graduates Get in the United States?
- •Text B. Looking for a Job
- •Grammar
- •PART II
- •Unit 1. ECONOMICS
- •Text A. Modern Economic Thought
- •Text B. The Nobel Memorial Prize in Economics
- •Unit 2. ECONOMIC SYSTEMS
- •Text A. Capitalism
- •Text B. Planned Economies
- •Unit 3. FUNDAMENTAL LAWS OF ECONOMICS
- •Text A. Law of Demand
- •Text B. Law of Supply
- •Unit 4. ECONOMIC PROBLEMS
- •Text A. Inflation
- •Text В. Unemployment in the USA
- •Unit 5. MARKET
- •Text A. Competition
- •Text В. Natural Monopoly
- •Unit 6. MACROECONOMIC PARAMETERS
- •Text A. Gross Domestic Product (GDP)
- •Text В. Business Cycles
- •Unit 7. MANAGEMENT
- •Text A. Management
- •Text B. Key Traits of Successful Leaders
- •Unit 8. MARKETING
- •Text A. Marketing
- •Text B. Brand Names
- •Unit 9. INTERNATIONAL ECONOMY
- •Text A. The World Bank
- •Text B. The International Monetary Fund
- •PART III
- •Lives of Great Economists
- •Biography of Adam Smith (1723 — 1790)
- •Biography of David Ricardo (1772 — 1823)
- •Biography of J. S. Mill (1806 — 1873)
- •Biography of Karl Marx (1818 — 1883)
- •Biography of Thornstein Veblen (1857 — 1929)
- •Biography of Alfred Marshall (1842 — 1924)
- •Biography of Carl Menger (1840 — 1921)
- •Biography of John Maynard Keynes (1883 — 1946)
- •Autobiography of Ragnar Frisch (1895 — 1973)
- •How I Became an Economist by Paul A. Samuelson
- •Autobiography of Leonid Vitaliyevich Kantorovich (1912 — 1986)
- •Biography of Milton Friedman (1912 — ...)
- •Autobiography of George J. Stigler
- •Autobiography of John F. Nash, Jr. (1928 — ...)
- •Works of Great Economists
- •An Inquiry into the Nature and Causes of the Wealth of Nations
- •Principles of Economics
- •General Theory of Employment, Interest and Mone
12.How do leaders maintain integrity?
13.What qualities do leaders need to be able to envision the
future?
14.What are the two greatest obstacles, as defined in the Text, leaders have to face?
15.Why are the limitations of reasoning and logics ?
16.What kind of relationship do real leaders tend to create?
17.Do you have to be born a leader or you can become one?
Unit 8. MARKETING
Text A. Marketing
Marketing is a four step process that begins with analyzing and defining a qualified universe of potential users or buyers. After this first phase in the marketing process, a marketing professional succeeds in capturing the attention of the intended buyers within the targeted universe. Third, systematic effort must be put into getting the prospects to accept the concepts or propositions. Finally, with all three of the previous steps achieved, the marketer must convert the prospective buyer into the actual buyer by getting them to take the desired action (purchase, rent, call, download, subscribe, refer, sell, follow the law, become a member, etc.).
Marketing methods are used by many of the social sciences, particularly psychology, sociology, and economics. Marketing research supports these activities.
In popular usage, the term "marketing" refers to the promotion of products, especially advertising and branding. However, in professional usage the term has a wider,meaning that recognized that marketing is customer centered. Products are often developed to meet the desires of groups of customers or even, in some cases, for specific customers. McCarthy divided marketing into four general sets of activities. His
179
typology has become so universally recognized that his four activity sets, the Four Ps, have passed into the language. The Four Ps are:
•Product — the product management aspect of marketing deals with the specifications of the actual good or service, and how it relates to the end-user's needs and wants.
•Pricing — this refers to the process of setting a price for a product, including discounts.
•Promotion — this includes advertising, sales promotion, publicity, and personal selling, and refers to the various methods of promoting the product, brand, or company.
•Place or distribution refers to how the product gets to the customer, for example, retailing.
These four elements are often referred to as the marketing mix. A marketer will use these variables to craft a marketing plan. Industrial products, services, and high value consumer products require adjustments to this model. Services marketing must account for the unique nature of services. Industrial or b2b marketing must account for the long term contractual agreements that are typical in supply chain transactions.
For a marketing plan to be successful, the mix of the Four Ps must reflect the wants and desires of the consumers in the target market. Trying to convince a market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on marketing research to determine what consumers want and what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of this process.
Most companies today have a customer orientation (also called customer focus). This implies that the company focuses its activities and products on customer needs. Generally there are two ways of doing this: the customer-driven approach and the product innovation approach.
In the consumer-driven approach consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the
180
test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point spending funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.
In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product innovation drives the process and marketing research is conducted primarily to ensure that a profitable market segments exists for the innovation. The rationale is that customers may not know what options will be available to them in the future so we should not expect them to tell us what they will buy in the future. It is claimed that if Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on product innovation.
VOCABULARY |
|
four step process |
— четырехступенчатый процесс |
qualified universe of potential |
— избранная генеральная сово куп- |
users or buyers |
ность потенциальных пользователей |
to capture the attention |
или покупателей |
— завладевать вниманием |
|
propositions |
— предложения |
desired action |
— желаемое действие |
to purchase |
— покупать, приобретать |
to download |
— загружать |
branding |
— брендинг, создание бренда |
customer centered |
— ориентированный на потребителя |
sets of activities |
— направления деятельности |
universally recognized |
— повсеместно признаваемый |
product |
— товар |
specifications of the actual good or |
— спецификации (подробное описание) |
service |
на реально существующий товар или |
end-user's needs |
услуги |
— потребности конечного пользователя |
|
181
pricing |
— ценообразование |
discounts |
— скидки |
promotion |
— содействие в продаже |
retailing |
— розничная продажа |
use these variables to craft |
— использование этих переменных а |
marketing plan |
для разработки маркетингового плана |
to require adjustments |
— требовать корректировки |
b2b marketing |
— маркетинг по принципу |
to reflect |
«бизнес-к-бизнесу» |
— отражать |
|
to convince |
— убеждать |
sustainable competitive advantage |
— длительное конкурентное преиму- |
to imply |
щество |
— предполагать |
|
rationale |
— разумное объяснение |
approach |
— подход |
there is no point |
— бессмысленно |
to attest to |
— свидетельствовать о чем-либо |
commercial failures |
— коммерческие провалы |
technological breakthroughs |
— технологические прорывы |
to pursue |
— искать, добиваться |
primarily |
— прежде всего |
options |
— опции, варианты для выбора |
light bulbs |
— электролампочки |
Questions to the Text
1.What are the four steps in marketing?
2.What can be a desired action in marketing?
3.What does the term "marketing" refer to in popular usage?
4.What are the Four Ps of marketing?
5.What is promotion?
6.What is marketing mix?
7.What is a customer focus?
8.What is the rationale for the consumer-driven approach?
9.What is a product innovation approach?
182