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A
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Marketing
Marketing is the process of planning, designing, pricing, promoting and
distributing ideas, goods and services, in order to satisfy customer needs,
so as to make a profit.
Companies point out how the special characteristics or features of
their products and services posses particular benefits that satisfy the
needs of the people who by them.
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B
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The four Ps
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The four Ps are
product: deciding what to
sell
price: deciding what prices
to charge
place: deciding how it will
be distributed and where people will buy it
promotion: deciding how the
product will be supported with advertising, special activities, etc.
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C
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Market orientation
Marketers often talk about
market orientation: the fact that everything they do is designed to meet
the needs of the market. They may describe themselves as market, driven,
market-led or market-oriented.
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EXERCISES
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21.1
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Look at A and B opposite. Read the article and answer the questions.
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Most people and many
managers do not understand the role of marketing in modern business.
Marketing is two things. First,
it is a strategy and set of techniques to sell an organization’s products
or services. This involves choosing target customers and designing a
persuasive marketing mix to get them to buy. The mix may include a range
or brands, tempting prices, convenient sales outlets and a battery of
advertising and promotions. This concept of marketing as selling and
persuasion is by far the most popular idea among both managers and the
public.
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1. Which of the four Ps are mentioned here?
2. Does the author think the four Ps are a complete definition of
marketing?
3. Does the author think that marketing is the only for marketers?
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21.2
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Match the
sentence beginnings (1-5) with the correct endings (a-e). the sentences all
contain expressions from C opposite.
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1
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Farms are now
market-oriented
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a
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such as Microsoft and Sony,
are in several markets at once.
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2
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Since the 1980s, Britain has
had a much more market-led
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b
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and the audience decides the
direction it takes.
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