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11
T E X T 2 *
PREREADING ACTIVITY
Discuss the following questions.
a) In a successful marketing operation, do the 4 elements of
product, price, placement, and promotion work together or in
isolation? Give reasons to support your answer.
b) If you were a market researcher, what questions would you
ask before introducing a product to the market? These
examples are given in the reading: "Who is going to buy the
product? "What is the potential to sell this product?" Think
of the other questions that might be asked using
WHAT,
WHERE, WHEN and WHY?
For example
‘ WHY will a customer want to buy the product?’
VOCABULARY
Below is a list of terms that you will find in the text. As you read
‘The Target Market’, see if you understand each term. Use this as a
working list and add other terms that you do not know.
NOUNS VERBS ADJECTIVES OTHERS
strategy determine potential in order to
isolation focus on correct once
combination direct successful
marketing mix appeal to appropriate
target market attempt middle-class
market match
research(er) mold
habit depend on
identification blend
consumer reach
The Target Market
The marketing strategies of determining product, price, place-
ment, and promotion are not planned in isolation. Marketing analysts
often look at a combination of these four factors. This combination of
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the four P's is known as the marketing mix. The elements of the market-
ing mix focus on the consumer. In order to develop a successful market-
ing mix, researchers first ask two important questions:
* Who is going to buy the product?
* What is the potential to sell this product?
The group of customers or consumers who will probably buy the
product is known as the target market. The company directs its market-
ing efforts toward this group of potential customers who form the target
market. Once market researchers have determined the target market
they wish to appeal to, the company can develop an appropriate mix of
product, price, placement, and promotion. The company attempts to
match consumer needs or mold consumer desires to the product being
offered.
For example, if the target market is middle-class teenagers, the
marketing mix might consist of the following:
Product: blue jeans.
Price: with the market.
Placement: department store.
Promotion: advertisements on a "pop music" radio station.
A successful marketing mix depends on the knowledge about
consumers and their buying habits, gained through market research as
well as correct identification of the target market. Strategies of product,
price, placement, and promotion are blended in order to reach a chosen
group of consumers.
COMPREHENSION CHECK
Answer the following questions about the target market. Ques-
tions with asterisks (*) cannot be answered directly from the text.
1. What is the marketing mix?
2. What do the elements of the marketing mix focus on?
3. What is the group of customers who will probably buy the
product known as?
4. *Why are the customers who make up the target market for a
product referred to as ‘potential’ customers?
5. What does a successful marketing mix depend on?
TEXT2 * the four P's is known as the marketing mix. The elements of the market- ing mix focus on the consumer. In order to develop a successful market- PREREADING ACTIVITY ing mix, researchers first ask two important questions: * Who is going to buy the product? Discuss the following questions. * What is the potential to sell this product? a) In a successful marketing operation, do the 4 elements of The group of customers or consumers who will probably buy the product, price, placement, and promotion work together or in product is known as the target market. The company directs its market- isolation? Give reasons to support your answer. ing efforts toward this group of potential customers who form the target b) If you were a market researcher, what questions would you market. Once market researchers have determined the target market ask before introducing a product to the market? These they wish to appeal to, the company can develop an appropriate mix of examples are given in the reading: "Who is going to buy the product, price, placement, and promotion. The company attempts to product? "What is the potential to sell this product?" Think match consumer needs or mold consumer desires to the product being of the other questions that might be asked using WHAT, offered. WHERE, WHEN and WHY? For example, if the target market is middle-class teenagers, the For example ‘ WHY will a customer want to buy the product?’ marketing mix might consist of the following: Product: blue jeans. VOCABULARY Price: with the market. Placement: department store. Below is a list of terms that you will find in the text. As you read Promotion: advertisements on a "pop music" radio station. ‘The Target Market’, see if you understand each term. Use this as a A successful marketing mix depends on the knowledge about working list and add other terms that you do not know. consumers and their buying habits, gained through market research as well as correct identification of the target market. Strategies of product, NOUNS VERBS ADJECTIVES OTHERS price, placement, and promotion are blended in order to reach a chosen strategy determine potential in order to group of consumers. isolation focus on correct once combination direct successful COMPREHENSION CHECK marketing mix appeal to appropriate target market attempt middle-class Answer the following questions about the target market. Ques- market match tions with asterisks (*) cannot be answered directly from the text. research(er) mold habit depend on 1. What is the marketing mix? identification blend 2. What do the elements of the marketing mix focus on? consumer reach 3. What is the group of customers who will probably buy the product known as? The Target Market 4. *Why are the customers who make up the target market for a The marketing strategies of determining product, price, place- product referred to as ‘potential’ customers? ment, and promotion are not planned in isolation. Marketing analysts 5. What does a successful marketing mix depend on? often look at a combination of these four factors. This combination of 11 12
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