TEXT 3. Marketing Mix. What is Marketing?

Vocabulary

sales revenues	выручка от продаж
distribution channel	канал распределения
pricing	ценообразование
adjustment / to adjust	корректировка / корректировать
advertising budget	бюджет на рекламу
salesperson (salesman)	специалист по продажам
marketing mix	составляющие маркетинга
retail outlet	точка розничной торговли
high-end	дорогой, высокого класса
top-of-the-line product	товар высшей категории
invoice / to invoice	счет-фактура / выставлять счет-фактуру
loan	заем

 

What is the difference between marketing and selling? My old VP of Marketing buddy said it well: «Selling is getting rid of something you’ve got. Marketing is having something you can get rid of». A successful marketing is focused on customers and their needs and wants.

A selling orientation is one, through which a company emphasizes its products with the main aim of maximizing sales.

A marketing orientation begins by examining the needs of the prospective users of a product. Even the details of the product design are driven by paying particular attention to the needs and wishes of the customer. Profits will result from having satisfied customers.

Advertising budgets and schedules must be worked out. Most importantly, the resources required to achieve the desired sales level must be calculated. The 4 Ps of marketing are Product, Price, Place, and Promotion. The 4 Ps are your marketing «mix». You control the 4Ps. They are your «independent» variables. The dependent variable is sales volume. This is the output that you get by defining the inputs – i.e. the 4 Ps. These variables are all interdependent. The task is to set these variables in such a way so that sales will take place.

 

Exercise 14. Answer the questions.

1. What is the difference between marketing and selling? 2. What should a company do to develop a forecast of sales revenues? 3. What independent variables are included in the marketing mix? 4. What main challenge do you face when you develop the marketing mix? 5. What are the most common pricing strategies?

 

Exercise 15. Translate the following sentences into Russian.

1. Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others. 2. Marketing research can be viewed as an operational or tactical activity and as a strategic activity. 3. Forecasting the success or failure of new product introductions is very important. 4. An important source of information for understanding the source of sales is television advertising 5. Since World War II the world economy has enjoyed a remarkable era of prosperity that has spread quite broadly, but not universally, across the world.

 

Exercise 16. Match the Russian and the English equivalents.

	turnover of capital	А	текучесть кадров
	cash turnover	B	текучесть рабочей силы
	labor turnover	C	оборот капитала
	turnover of staff	D	кругооборот наличных денег
	gross profit	E	чистая прибыль
	net profit	F	валовая прибыль
	to derive a profit	G	счёт прибылей и убытков
	mode of production	H	продавать с прибылью
	produce a profit	I	извлекать прибыль
	production and consumption	J	давать прибыль
	to sell at a profit	K	производство и потребление
	profit and loss account	L	способ производства

 

Exercise 17. Read the following text. Write down the basic economic terms.

Text 4. Price

Vocabulary

flexible	гибкий
variable	переменные
to adjust	приспосабливаться
to exchange	обмениваться
consideration	суждение
rent	рента
honorarium	гонорар

Price is probably the most flexible variable in the marketing mix. Marketers can usually adjust their prices more easily and more quickly than they can change any other marketing mix variable. To a buyer, price is the value placed on what is exchanged. Something of value – usually purchasing power – is exchanged for satisfaction or utility. Purchasing power depends on a buyer’s income, credit and wealth. It is a mistake to believe that price is always money paid or some other financial consideration. In fact, trading of products – barter – is the oldest form of exchange. Money may or may not be involved.

Rent is paid for the use of equipment or an apartment. A commission is remitted to an agent for the sale of real estate. Dues are paid for membership in a club or group. A deposit is made to hold or lay away merchandise. A tip helps pay waitresses or waiters for their services. Interest is charged for the loan that you obtain, and taxes are paid for government services. Scientists are paid honorariums for research papers they write, and authors of bestsellers are paid royalties by their publishers. The value of many products is called price. Although price may be expressed in many different ways, it is important to remember that the purpose of this concept is to quantify and express the value of the items in the market exchange.

 

Exercise 18. Put the letters into the correct order to make a word.

1. fritpo

2. ehawlt

3. kmnaetigr

4. emkatr

5. cpdruto

6. aluve

7. gxncehae

8. atex

9. iinncaalf

10. eoncmy

 

Exercise 19. Read and translate the text. Discuss the main issues.

Text 5. The World Trade Organization

Vocabulary

The World Trade Organization	Всемирная торговая организация
to commence	начинать(ся)
framework	структура
to negotiate	вести переговоры
dispute	разногласия, полемика
topmost	самый важный
to propagate	распространять(ся)
low-income	низко-доходный
applicant country	Совокупность стран

The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements, which are signed by representatives of member.

WTO's current Director-General is Pascal Lamy, who leads a staff of over 600 people in Geneva, Switzerland.

The topmost decision-making body of the WTO is the Ministerial Conference, which usually meets every two years. It brings together all members of the WTO, all of which are countries or customs unions. The Ministerial Conference can take decisions on all matters under any of the multilateral trade agreements.

The main functions of the organization are to review and propagate the national trade policies and to ensure the coherence and transparency of trade policies through surveillance in global economic policy-making. Another priority of the WTO is the assistance of developing, least-developed and low-income countries.

The WTO is also a center of economic research and analysis. What is more the WTO cooperates closely with the World Bank. There are 11 committees under the jurisdiction of the Goods Council each with a specific task.

The process of becoming a WTO member is unique to each applicant country, and the terms of accession are dependent upon the country's stage of economic development and current trade regime. The process takes about five years, on average. The shortest accession negotiation was that of the Kyrgyz Republic, while the longest was that of Russia, which, having first applied to join GATT in 1993, was approved for membership in December 2011 and became a WTO member on August 22, 2012. All in all, the WTO has 159 members and 25 observer governments.

 

Exercise 20. Find the following English equivalents in the text.

Мировая торговая организация, иметь дело с, переговоры, торговые соглашения, принимающий решения орган, многосторонний, наблюдение, приоритет, юрисдикция, подавать заявление.

 

Exercise 21. Match the Russian and the English equivalents.

	adherence	A	прозрачность
	to ensure	B	вступление
	coherence	C	наименее развитый
	transparency	D	обеспечивать
	least-developed	E	кандидат
	low-income	F	строгое соблюдение
	applicant	G	низкодоходный
	accession	H	связь

 

Exercise 22. Answer the questions.

1) What is WTO? 2) What are the main functions of the organization? 3) What does the organization deal with? 4) Who is the current Director of the WTO? 5) What is the Ministerial Conference? 6) Upon what are the terms of accession in WTO dependent? 7) When did Russia become the member of the organization?

 

Exercise 23. Choose the right answer.

1. The World Trade Organization (WTO) is an organization that …	a) deals with the command and market economy. b) intends to supervise and liberalize international trade. c) cooperates with banks to help people.
2. The organization officially commenced on …	a) January 1, 1995 under the Marrakech Agreement. b) March 1, 1995 under the Marrakech Agreement. c) February 1, 1995under the Marrakech Agreement.
3. The organization deals with regulation of trade between	a) enemy countries. b) competitive countries. c) participating countries.
4. The Ministerial Conference can take decisions on …	a) all matters under any of the multilateral trade agreements. b) several matters under any of the multilateral trade agreements. c) that matters that concern only least-developed and low-income countries.
5. The WTO is also a center of …	a) banking. b) economic research and analysis. c) marketing.

 

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