Text 1 . The Scope of Marketing

Today's central problem facing business is not a shortage of goods but a shortage of customers. Most of the world's industries can pro­duce far more goods than the world's consumers can buy. Overca­pacity results from individual competitors projecting a greater market share growth than is possible. This in turn leads to hypercompetition. Competitors, desperate to attract customers, lower their prices and add giveaways. These strategies ultimately mean lower margins, lower profits, some failing companies, and more mergers and acquisitions. Marketing is the answer to how to compete on basis other than price. Because of overcapacity, marketing has become more impor­tant than ever.

What does the term marketing mean? Marketing must be understood not in the old sense of making a sale - 'selling' - but in the new sense of satisfying customer needs. Many people think of marketing only as selling and advertising. And no wonder, for every day we are bombarded with television commercials, newspaper ads, direct mail and sales calls. Someone is always trying to sell us something. It seems that we cannot escape death, taxes or selling! But selling starts only when you have a product. Marketing starts before a product exists. Marketing is the homework your company does to figure out what people need and what your company should offer. Marketing determines how to launch, price, distribute, and promote your product/service offerings to the marketplace. Market­ing then monitors the results and improves the offering over time. Marketing also decides if and when to end an offering.

All said, marketing is not a short-term selling effort but a long-term selling effort. When marketing is done well, it occurs be­fore the company makes any product or enters any market; and it continues long after the sale.

Therefore, you may be surprised to learn that selling and advertising are only the tip of the marketing iceberg. Although they are important, they are only two of many marketing functions, and often not the most important ones. This does not mean that selling and advertising are unimportant. Rather, it means that they are part of a larger marketing mix - a set of marketing tools that work together to affect the marketplace. Thus, marketing may be defined as: Marketing is the art and science of choosing target markets and getting, keep­ing, and growing customers through creating, communicating, and delivering superior customer value. The marketer's watchwords are quality, service, and value.

The most basic concept underlying marketing is that of human needs. A human need is a state of felt deprivation. Humans have many complex needs. These include basic physical needs for food, clothing, warmth and safety; social needs for belonging and affection; and individual needs for knowledge and self-expression. People have narrow, basic needs (e.g. for food or shelter), but almost unlim­ited wants. However, they also have limited resources. Thus they want to choose products that provide the most satisfaction for their money. When backed by an ability to pay - that is, buying power - wants become demands. Consumers view products as set of benefits and choose products that give them the best bundle for their money.

Outstanding marketing companies go to great lengths to learn about and understand their customers' needs, wants and demands. They conduct consumer research and focus groups. They analyze customer complaint, inquiry, warranty and service data. They train salespeople to be on the look-out for unfulfilled customer needs. They observe customers using their own and competing products, and interview them about their likes and dislikes. Understanding customer needs, wants and demands in detail provides important input for designing marketing strategies with high revenue objectives.

To persuade customers to buy a product or service a marketer takes four steps:

Attention. Marketing must first attract the customers' attention to the product. Customers become aware of a product and know it is available.

Interest. Then, marketing must create an interest in the product. Customers will develop an interest in the product.

Desire. Next, marketing must develop a desire to own or have the product so that customers actively want the product.

Action. Finally, marketing must prompt action to purchase, so that customers take steps to buy the product - for example, by going to the shop or ordering it online.

 

Exercise 3. Answer the questions.

1. What is the problem facing business today? What does overcapacity lead to? 2. Why is marketing contrasted to selling? What is the difference between them? 3. What does marketing determine? 4. What role do selling and advertising play in the marketing mix? 5. What is marketing? 6. How are human needs defined and classified? 7. When do wants become demands? 8. What do marketing companies perform to learn about their customers? 9. What are the four steps of marketer?

 

Exercise 4. Give Ukrainian equivalents.

Shortage of goods, competitor, in turn, to lead to hypercompetition, to attract customers, tax, lower profit, newspaper ads; to launch, price, distribute, and promote the product/service; tip of the marketing iceberg, warranty and service data.

Exercise 5. Give English equivalents.

Злиття та поглинання, задовольняти потреби споживачів, телевізійний рекламний ролик, конкурувати, реклама, довгостроковий, короткостроковий, сукупність маркетингових інструментів, збиткова компанія, переконувати покупців, купівельна спроможність.

Exercise 6. Translate into English.

1.Здатність виробляти більше, ніж потребує попит, призводить до гіперконкуренції. 2. Маркетинг визначає, як випустити новий товар на ринок, яку ціну встановити, як розподіляти та сприяти продажу нового товару та послуг на ринку. 3. Збут та реклама важливі, але вони є лише двома з багатьох маркетингових функцій. 4. Бажання перетворюються на попит, коли вони підкріплюються купівельною спроможністю. 5. Маркетингові компанії проводять вивчення споживчого попиту та фокус-групи, аналізують запити, скарги, гарантійні та експлуатаційні дані.

Exercise 7. Complete the article about a supermarket in-store event using words from the box.

awareness meet

customers promotional

identified

This week, Tesco launches its biggest project 'Healthy Life' - illustrating its commitment to helping (1)… lead a healthy and active lifestyle. The supermarket has (2)… health as an important customer concern and is working to (3) … he needs of its customers. Hundreds of (4)… operations for healthy products will run all over the store, from fresh produce through to grocery and healthcare lines. Tesco hopes that (5) … of its initiative will be high.

 

Exercise 8. Replace the underlined words and expressions with alternative words and expressions from the box.

afford                  high quality revenue objectives convenient                  price           socially acceptable

1. Mobile phones are fashionable and attractive to the youth market.

2. We have a reputation for providing good standard mobile phones.

3. The cost to user of mobile phones is kept down because they are subsidized by the network providers.

4. This means more people can have the money to buy the product.

5. More and more, customers buy mobile phones online because it is more accessible.

6. Expected earnings from 3G phones were not met when the products were first launched.

 

Exercise 9. Find sentences with modal verbs and translate them.

 

Exercise 10. Put the words in each sentence in the correct order.

1. attention, attract, must, product, the, to, We.

2. aware, become, of, People, brand, the, will.

3. an, create, in, interest, need, product, the, to, We.

4. an, customers, develop, in, interest, product, the, to, want, We.

5. a, desire, develop, must, our, own, product, to, We.

6. People, steps, take, the, brand, to, try, will.

7. action, buy, must, prompt, it, to, We.

Exercise 11. Learn the following words and word combinations.

end-user	– кінцевий споживач
airline	– авіалінія
market segment	– маркетинговий сегмент
aerospace industry	– авіаційно-космічна промисловість
jet airplane	– реактивний літак
face-to-face communication	– безпосереднє спілкування
driven force	– рушійна сила
marketing department	– маркетинговий відділ
R&D department (research and development)	– науково-дослідний відділ
target customer	– цільовий (потенційний) клієнт
to reinvigorate	– зміцнювати
basic and applied research	– фундаментальне та прикладне дослідження
aeronautics	– аеронавтика
money management	– управління грошима
competitive advantage	– конкурентоспроможність
public relations	– зв’язки з громадськістю
web development	– веб-програмування
sales promotion	– стимулювання збуту
billboard	– рекламний щит
marketing tool	– інструмент маркетинга; засіб маркетинга
cost-effective	– рентабельний
craft	– створювати
brand image	– образ, престиж, репутація торгівельної марки
exhibition design	– оформлення виставки
giveaway	– рекламна листівка; товар, що віддається безкоштовно або за зниженою ціною з метою реклами

Exercise 12. Read, translate and give the gist of text 2.

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