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Латыгина Базовый курс економики на англ.doc
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Marketing

Marketing involves analysing and understanding customer demand in order to enable the company to provide the most appropriate products and services.

A company’s approach to achieving its marketing objectives is called marketing strategy.

The various factors a company must take into consideration when developing its marketing objectives are referred to as marketing mix. The marketing mix is often summarized as the so-called four P’s: product, price, place, promotion: what to sell, to whom, where, and with what support.

Product can be defined as goods or service that you are marketing and includes its design, quality and reliability.

Price refers to how much money a company charges for its products. The marketing view of pricing involves considering the value of a product, the volume of sales required.

Place refers to distribution, that is, how and where the product is made available to customers.

Promotion means presenting the product to the customer. Promotion involves considering the packaging and presentation of the product, its image, the product name, advertising.

Exercises in Word Study

Ex.1. Form nouns from the following verbs:

involve, analyse, provide, achieve, consider, summarize, pay, distribute, present.

Ex.2. The following words can be used in more than one way. Underline the correct part of speech for each word as it is used in the text.

demand

a) noun

b) verb

approach

a) noun

b) verb

place

a) noun

b) verb

support

a) noun

b) verb

charge

a) noun

b) verb

view

a) noun

b) verb

value

a) noun

b) verb

name

a) noun

b) verb

Ex.3. Give the English for:

купівельний попит; досягати мети; стратегія маркетингу; брати до уваги різні фактори; формула маркетингу; підтримка; якість та надійність; обсяг продажу; сприяння у продажу (товару); пакування товару; реклама.

Ex.4. Match words from list A with words from list B that have a similar meaning:

A

B

involve

appropriate

achieve

objective

support

enable

provide

price

cost

supply

empower

assistance

aim

reach

suitable

include

Ex.5. Find suitable opposites to the following words:

to understand, appropriate, to fail, to provide, identical, inaccessible.

Ex.6. Match the nouns in the left hand column with the nouns in the right hand column.

distribution

promotion

marketing

environment

department

strategy

mix

plan

objectives

channels

costs

company

system

network

campaign

Ex.7. Replace each definition with a single word relating to marketing mix:

  1. the item made for sale__________

  2. how much it will cost__________

  3. where it will be sold_________

  4. what publicity it will get_________

Ex.8. The words in the box frequently occur after “marketing”.

Find combinations that mean:

  1. the combination of factors that influence sales and can be controlled by a company. These include product, pricing, promotion and place;

  2. a detailed report that shows how a company or a department will maintain and improve sales in a certain area;

  3. the combination of factors that affect a company’s sales in a particular area or country. These factors include changes in government policy, in people’s levels of income, the development of new technology or transport systems and the activity of rival firms;

  4. a detailed inspection of the strengths and weaknesses of the marketing activities of an organization;

  5. a company’s approach to achieving its marketing objectives;

  6. the business philosophy that involves the entire organization in the process of satisfying customers’ needs while achieving the organization’s goals;

  7. the general and specific aims which a firm sets for itself in selling its products.