Read the text about marketing, its history and development.

UNIT 6 MARKETING

I THINK AND SAY

1 What is the connection between the market and marketing?

2 What are the participants of any market?

3 What is marketing for?

4 What is the role of marketers?

5 Can you remember any basic concepts of marketing?

Read the words and their translation, memorize them.

competition - конкуренція, змагання

customer -- покупець, клієнт

consumer - споживач

pricing – ціноутворення

revenue – доход, прибуток

marketer – маркетолог

distribution – розподіл

demand - попит

to benefit – мати зиск

to emerge – з’являтися

to purchase – купувати

to acquire - придбати, набувати

to maintain - підтримувати, зберігати

to expand – збільшувати, поширювати

 

Read and translate word combinations.

production and operations, accounting and other business areas, a relatively young discipline, in the early 1900s, commonly associated with marketing, in large part, in greater detail, relationships and behaviors between sellers and buyers, to adopt strategies and tactics, to market products and services, to have an in-depth understanding, to generate revenues, to create and maintain satisfying relationships with customers, the value of products and services, to meet/satisfy consumer’s needs, providing financial assistance, the key objective, labor force.

Read the text about marketing, its history and development.

The development of marketing was in large part motivated by the need to analyze and study in greater detail relationships and behaviors that existed between sellers and buyers. In particular, the study of marketing led sellers to recognize that adopting certain strategies and tactics could significantly benefit the seller/buyer relationship. Before the 1950s companies were simply trying to sell more products and services with little regard for what customers really wanted. They were led by “sell-as-much-as-we-can” philosophy with little concern for building relationships for the long term.

But starting in the 1950s, companies began to see that old ways of selling were losing their effectiveness. Competition grew across most industries and organizations. An emerging philosophy suggesting that the key factor in successful marketing is understanding the needs of customers. Only then should an organization initiate the process of developing and marketing products and services.

The marketing concept continues to be at the root of most marketing efforts. Marketers have learned they can no longer limit their marketing effort to just getting customers to purchase more. They must have an in-depth understanding of who their customers are and what they want.

Marketing is defined in many different ways. Some definitions focus on what marketing means to an organization, such as being the key functional area for generating revenue, while other definitions tend to consider its most visible tasks, such as advertising and creating new products. The best way to define marketing is to have an orientation that focuses on the key to marketing success – customers.

Marketing consists of the strategies and tactics used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and the marketer.

The 7 Functions of Marketing include

Pricing. Setting and communicating the value of products and services. Setting the price at the right level.

Product/Service Management.

Designing, developing, maintaining, improving, and acquiring products and services that meet consumer’s needs.

Distribution. Determining the best ways for customers to locate, obtain, and use the products and services of an organization. This involves moving the product each step from the design idea to the consumer.

Financing. Budgeting for marketing activities, obtaining the necessary funds needed for operations, and providing financial assistance to customers so they can purchase the business products and service.

Marketing-Information Management. Obtaining, managing, and using information about what customers want to improve business decision making, performance of marketing activities, and determining what will sell.

Selling. Communicating directly with potential customers to determine and satisfy their needs.

Promotion. Communicating with customers about the product to achieve the desired result—customer’s demand for and purchase of the product. This includes advertising, personal selling, publicity, and public relations.