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mix that will s
atisfy that market.
A target market is chosen through the market segmentation approach. A
market segment is a group of individuals or organizations within a market that have
similar characteristics and needs. The market segmentation approach directs a
marketing mix at a segment of a market.
Market measurement and sales forecasting are used to estimate sales
potential and predict product sales in specific market segments. Strategies are then
monitored and evaluated through marketing research and marketing information
system, which stores and process internal and external data in a form suitable for
marketing decision making.
8. Fill the gaps with a suitable word from the list below.
A. Marketing.
In recent years marketing has … (1) a driving force in most companies.
Underlying all marketing strategy is “The Marketing Concept”, explained in this
diagram:
THE MARKETING CONCEPT
(We must … (2) what people want, not what we want to produce)
↓
This means that we PUT THE CUSTOMER FIRST
(We … (3) the company so that this happens)
↓
We must FIND OUT WHAT THE CUSTOMER WANTS
(We … (4) market research)
↓
We must SUPPLY exactly what the customer wants
↓
We can do this by offering the right MARKETING MIX: “The Four P’s ”
= the right PRODUCT
at the right PRICE
available through the right … (5) of distribution: PLACE
presented in the right way: PROMOTION
Nowadays, all … (6) of a company are urged to “Think Marketing”:
To think marketing we must have a clear idea of:
↓
what the customers need
what the customers want
what causes them to buy
what the product is to the customer: functional, technological, economic, aesthetic,
emotional, psychological … (7).
FEATURES (what the product is) + BENEFITS (which means that…)
A company that believes in … (8) is forward-thinking and doesn’t rest on its past
…(9): it must be aware of its strengths and weaknesses as well as the … (10) and
threats it faces in the market.
3. Read, make up a summary. Make a brief retelling.
Advertising.
Advertising is a communication whose purpose is to inform potential
customers about products and services and how to use and obtain them. Every
major medium is used to deliver these messages, including: television, radio,
movies, magazines, newspapers, video games, the Internet (see Internet
advertising), and billboards. Advertising is often placed by an advertising agency
on behalf of a company.
Advertisements can also be seen on the seats of grocery carts, on the walls
of an airport walkway, on the sides of buses, heard in telephone hold messages and
in-store public address systems. Advertisements are usually placed anywhere an
audience can easily and/or frequently access them.
Some organizations which frequently spend large sums of money on
advertising but do not strictly sell a product or service to the general public include:
political parties, interest groups, religion-supporting organizations, and militaries
looking for new recruits. Additionally, some non-profit organizations are not
typical advertising clients and rely upon free channels, such as public service
announcements.
Advertising spending has increased dramatically in recent years. In the
United States alone in 2006, spending on advertising reached $155 billion, reported
TNS Media Intelligence. That same year, according to a report titled Global
Entertainment and Media Outlook: 2006-2010 issued by global accounting firm
PricewaterhouseCoopers, worldwide advertising spending was $385 billion. The
accounting firm's report projected worldwide advertisement spending to exceed
half-a-trillion dollars by 2010.
While advertising can be seen as necessary for economic growth, it is not
without social costs. Unsolicited Commercial Email and other forms of spam have
become so prevalent as to have become a major nuisance to users of these services,
as well as being a financial burden on internet service providers. Advertising is
increasingly invading public spaces, such as schools, which some critics argue is a
form of child exploitation.
Commercial messages and political campaign displays have been found in
the ruins of ancient Arabia. Egyptians used papyrus to create sales messages and
wall posters, while lost-and-found advertising on papyrus was common in Ancient
Greece and Ancient Rome. Wall or rock painting for commercial advertising is
another manifestation of an ancient advertising form, which is present to this day in
many parts of Asia, Africa, and South America. As printing developed in the 15th
and 16th century, advertising expanded to include handbills. In the 17th century
advertisements started to appear in weekly newspapers in England. These early
print advertisements were used mainly to promote: books and newspapers, which
became increasingly affordable with advances in the printing press; and medicines,
which were increasingly sought after as disease ravaged Europe. However, false
advertising and so-called "quack" advertisements became a problem, which
ushered in the regulation of advertising content.
29 36
3. Read, make up a summary. Make a brief retelling. mix that will satisfy that market.
A target market is chosen through the market segmentation approach. A
Advertising. market segment is a group of individuals or organizations within a market that have
Advertising is a communication whose purpose is to inform potential similar characteristics and needs. The market segmentation approach directs a
customers about products and services and how to use and obtain them. Every marketing mix at a segment of a market.
major medium is used to deliver these messages, including: television, radio, Market measurement and sales forecasting are used to estimate sales
movies, magazines, newspapers, video games, the Internet (see Internet potential and predict product sales in specific market segments. Strategies are then
advertising), and billboards. Advertising is often placed by an advertising agency monitored and evaluated through marketing research and marketing information
on behalf of a company. system, which stores and process internal and external data in a form suitable for
Advertisements can also be seen on the seats of grocery carts, on the walls marketing decision making.
of an airport walkway, on the sides of buses, heard in telephone hold messages and
in-store public address systems. Advertisements are usually placed anywhere an 8. Fill the gaps with a suitable word from the list below.
audience can easily and/or frequently access them.
Some organizations which frequently spend large sums of money on A. Marketing.
advertising but do not strictly sell a product or service to the general public include: In recent years marketing has … (1) a driving force in most companies.
political parties, interest groups, religion-supporting organizations, and militaries Underlying all marketing strategy is “The Marketing Concept”, explained in this
looking for new recruits. Additionally, some non-profit organizations are not diagram:
typical advertising clients and rely upon free channels, such as public service THE MARKETING CONCEPT
announcements. (We must … (2) what people want, not what we want to produce)
Advertising spending has increased dramatically in recent years. In the ↓
United States alone in 2006, spending on advertising reached $155 billion, reported This means that we PUT THE CUSTOMER FIRST
TNS Media Intelligence. That same year, according to a report titled Global (We … (3) the company so that this happens)
Entertainment and Media Outlook: 2006-2010 issued by global accounting firm ↓
PricewaterhouseCoopers, worldwide advertising spending was $385 billion. The We must FIND OUT WHAT THE CUSTOMER WANTS
accounting firm's report projected worldwide advertisement spending to exceed (We … (4) market research)
half-a-trillion dollars by 2010. ↓
While advertising can be seen as necessary for economic growth, it is not We must SUPPLY exactly what the customer wants
without social costs. Unsolicited Commercial Email and other forms of spam have ↓
become so prevalent as to have become a major nuisance to users of these services, We can do this by offering the right MARKETING MIX: “The Four P’s ”
as well as being a financial burden on internet service providers. Advertising is = the right PRODUCT
increasingly invading public spaces, such as schools, which some critics argue is a at the right PRICE
form of child exploitation. available through the right … (5) of distribution: PLACE
Commercial messages and political campaign displays have been found in presented in the right way: PROMOTION
the ruins of ancient Arabia. Egyptians used papyrus to create sales messages and Nowadays, all … (6) of a company are urged to “Think Marketing”:
wall posters, while lost-and-found advertising on papyrus was common in Ancient To think marketing we must have a clear idea of:
Greece and Ancient Rome. Wall or rock painting for commercial advertising is ↓
another manifestation of an ancient advertising form, which is present to this day in what the customers need
many parts of Asia, Africa, and South America. As printing developed in the 15th what the customers want
and 16th century, advertising expanded to include handbills. In the 17th century what causes them to buy
advertisements started to appear in weekly newspapers in England. These early what the product is to the customer: functional, technological, economic, aesthetic,
print advertisements were used mainly to promote: books and newspapers, which emotional, psychological … (7).
became increasingly affordable with advances in the printing press; and medicines, FEATURES (what the product is) + BENEFITS (which means that…)
which were increasingly sought after as disease ravaged Europe. However, false A company that believes in … (8) is forward-thinking and doesn’t rest on its past
advertising and so-called "quack" advertisements became a problem, which …(9): it must be aware of its strengths and weaknesses as well as the … (10) and
ushered in the regulation of advertising content. threats it faces in the market.
36 29
