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41
SUMMARY AND REVIEW
I. Using the statements below as a plan try to reconstruct the
gist of the text.
a) Define marketing and describe its relationship to the exchange
process.
b) Identify the functions of marketing.
c) State the marketing concept and its implications for developing
marketing strategies.
d) Define marketing strategy and explain why marketing strategy
decisions, such as market segmentation and ways to develop a market-
ing mix, are made.
e) Discuss buyer behavior and describe how marketers conduct
market research.
II. Now look through the draft of the Model Summary. Try to
make it more cohesive using some of the phrases on the right.
Marketing is a group of activities
designed to aid and expedite ex-
changes by creating, distributing,
promoting, and pricing goods, ser-
vices, and ideas. An exchange is the
act of giving up one thing in return
for something else.
Marketing focuses on satisfying
human needs. Marketing creates
three kinds of utility (the ability to
satisfy needs or wants): place utility,
time utility, and possession utility; it
also contributes to form utility.
Marketing consists of several differ-
ent, interrelated functions: buying,
selling, transporting, storing, grad-
ing, financing, marketing research,
and risk taking.
The marketing concept is the basic
philosophy that guides all marketing
activities. In essence, the marketing
concept states that an organization
The text deals with…
To begin with I’d like to say
that…
The point is that …
The author thinks that ….
First of all / firstly, (it should be
noted that)…
Secondly / next / finally, ...
On the one hand…, on the other
hand…
I can’t but mention that …
I suppose / believe / assume that
…
What matters is that …
In addition / moreover, …
Because /as /since…
Nevertheless, …
As a matter of fact …
In fact …
Generally speaking …
As for (to) me, I think that …
As far as I know / can judge…
42
should try to satisfy customers’
needs through a set of coordinated
activities that also allow it to
achieve its goals.
A marketing strategy provides the
plan of actions for using the firm’s
resources to meet its objectives. The
steps to develop a strategy are se-
lecting a target market and develop-
ing and maintaining a marketing
mix that satisfies the target market.
A target market is a group of buyers
for whom the organization tailors a
marketing strategy; it is a group of
consumers on whose needs and
wants the organization wishes to
focus. The marketing mix is com-
posed of four elements: products,
price, distribution, and promotion.
Marketing strategy decisions guide
an organization’s activities.
Buyer behavior is the decision proc-
esses and actions of people who
purchase and use products. It in-
cludes the behavior of both consum-
ers purchasing products for personal
or household use and organizations
purchasing products for business
use. Marketing research is a system-
atic and objective effort to get in-
formation about potential customers
to guide marketing decisions. The
five steps of marketing research are
(1) defining and locating problems,
(2) developing assumptions or ideas
about the probable causes of events,
(3) collecting data, (4) analyzing
and interpreting data, and (5) report-
ing research findings in an under-
standable way so that decision mak-
ers can use them to solve problems.
… and so on
… and others
On the whole …
… in particular …
Summing up I’d like to stress …
To sum up, it should be pointed
out that …
Finally, a few words should be
said about …
SUMMARY AND REVIEW should try to satisfy customers’ … and so on needs through a set of coordinated … and others I. Using the statements below as a plan try to reconstruct the activities that also allow it to On the whole … achieve its goals. … in particular … gist of the text. A marketing strategy provides the Summing up I’d like to stress … a) Define marketing and describe its relationship to the exchange plan of actions for using the firm’s To sum up, it should be pointed process. resources to meet its objectives. The out that … b) Identify the functions of marketing. steps to develop a strategy are se- Finally, a few words should be c) State the marketing concept and its implications for developing lecting a target market and develop- said about … marketing strategies. ing and maintaining a marketing d) Define marketing strategy and explain why marketing strategy mix that satisfies the target market. decisions, such as market segmentation and ways to develop a market- A target market is a group of buyers ing mix, are made. for whom the organization tailors a e) Discuss buyer behavior and describe how marketers conduct marketing strategy; it is a group of market research. consumers on whose needs and wants the organization wishes to focus. The marketing mix is com- II. Now look through the draft of the Model Summary. Try to posed of four elements: products, make it more cohesive using some of the phrases on the right. price, distribution, and promotion. Marketing strategy decisions guide Marketing is a group of activities The text deals with… an organization’s activities. designed to aid and expedite ex- To begin with I’d like to say Buyer behavior is the decision proc- changes by creating, distributing, that… esses and actions of people who promoting, and pricing goods, ser- The point is that … purchase and use products. It in- vices, and ideas. An exchange is the The author thinks that …. cludes the behavior of both consum- act of giving up one thing in return First of all / firstly, (it should be ers purchasing products for personal for something else. noted that)… or household use and organizations Marketing focuses on satisfying Secondly / next / finally, ... purchasing products for business human needs. Marketing creates On the one hand…, on the other use. Marketing research is a system- three kinds of utility (the ability to hand… atic and objective effort to get in- satisfy needs or wants): place utility, I can’t but mention that … formation about potential customers time utility, and possession utility; it I suppose / believe / assume that to guide marketing decisions. The also contributes to form utility. … five steps of marketing research are Marketing consists of several differ- What matters is that … (1) defining and locating problems, ent, interrelated functions: buying, In addition / moreover, … (2) developing assumptions or ideas selling, transporting, storing, grad- Because /as /since… about the probable causes of events, ing, financing, marketing research, Nevertheless, … (3) collecting data, (4) analyzing and risk taking. As a matter of fact … and interpreting data, and (5) report- The marketing concept is the basic In fact … ing research findings in an under- philosophy that guides all marketing Generally speaking … standable way so that decision mak- activities. In essence, the marketing As for (to) me, I think that … ers can use them to solve problems. concept states that an organization As far as I know / can judge… 41 42
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