Vocabulary:

listed company (Syn: quoted company) – компания, акции которой котируются на фондовой бирже

case study - изучение конкретного случая; исследование на конкретном примере

turnround (turnaround) – сдвиг; благоприятный поворот ( рыночной конъюнктуры, экономики в целом или дел компании (напр., поворот от убытков к прибыли)

headcount - численность персонала предприятия

overhaul – пересмотр; реконструкция

TRANSLATION NOTES:

…with cost savings projected to reach $120m a year - (См. часть Ш, раздел 3, § 6)

But, while ruling nothing out, … (См. часть Ш, раздел 3, § 9)

The money we would have had to invest in Europe would be better invested in Amer­ica… (См. часть Ш, раздел 3, §11)

VOCABULARY CHECK

1. Маркетинг – понятие более емкое, нежели просто реклама и продвижение (продажа) товара на рынке.

2. Компания, ориентированная на рынок, очень быстро реагирует на все потребности и изменения конъюнктуры рынка.

3. Розничные торговцы (продавцы) закупают товары в больших количествах у производителей или импортеров для дальнейшей их продажи индивидуальным клиентам или конечным потребителям.

4. Компании, не имеющие конкурентов, называются монополиями.

5. Сравнительные (конкурентные) преимущества дают возможность компаниям продавать товар по ценам более низким, нежели у конкурентов.

6. Конкурент – физическое или юридическое лицо, которое производит товары или предоставляет услуги, которые также производят или предоставляют другие фирмы.

Section 2 marketing mix and target markets lead-in

The word market originally meant the place where the exchange between seller and buyer took place. Today we speak of a market as either a region where goods are sold and bought or particular types of buyers.

The marketing mix is often summarized as the so-called four Ps: product, price, place, promotion: what to sell, to whom, where, and with what support. Some commentators will increase the marketing mix to the 'five Ps', to include people.

More recently, Bernard Booms and Mary Bitner built a model consisting of seven P's. In addition to product, price, promotion, and place, they included people, physical evidence, and process. "People" was added, to recognize the importance of the human element in all aspects of marketing. They added "process" to reflect the fact that services, unlike physical products, are experienced as a process at the time that they are purchased. "Physical evidence" reflects the physical surroundings associated with a service encounter or retail location. Other marketing theorists include "partners" as a mix variable because of the growing importance of collaborative channel relationships.

One more P, packaging, has been added to this list by some people. The rationale is that it is very important how the product is presented to the customer, and the packaging is often the first contact that a customer has with a product.

Product: the product management aspect of marketing deals with the specifications of the actual goods or services, and how they relate to the end-user's needs and wants.

Pricing: this refers to the process of setting a price for a product, including discounts. The marketing view of pricing takes account of the value of a product, its quality, the ability of the customer to pay, the volume of sales required, the level of market saturation and the prices charged by the competition. Too low a price can reduce the number of sales just as significantly as too high a price. A low price may increase sales but not as profitably as fixing a high, yet still popular, price. As fixed costs stay fixed whatever the volume of sales, there is usually no such thing as a 'profit margin' on any single product.

A product may be seen as expensive or cheap, but ‘expensive’ may imply ‘too expensive’ and ‘cheap’ is often used to show disapproval of poor quality. A way of getting round this is to say that something is high-priced or low-priced. Similarly, things may be mid-priced.

A product may have an ‘official’ list price, but this price may in practice rarely be charged because of discounting by sellers who offer a lower price by giving a discount.

When prices are reduced, there are price cuts. When a business sells a product at a lower price than its competitors, it undercuts them.

Companies responding to each others’ price cuts by repeatedly cutting prices engage in price wars.

When a foreign company is believed to be selling products at less than what it costs to make them, or at less than the price it charges in its home market, it is accused of dumping.

Placement (or distribution): this refers to how the product gets to the customer; for example, point of sale placement or retailing getting the product to the customer. Decisions have to be made about the channels of distribution and delivery arrangements.

Promotion: presenting the product to the customer. Promotion involves considering the packaging and presentation of the product, its image, the product name, advertising and slogans, brochures, literature, price lists, after-sales service and training, trade exhibitions or fairs, public relations, publicity, and personal selling, where the seller develops a relationship with the customer. Every product must possess a unique selling proposition (USP) - features and benefits that make it unlike any other product in its market.

In promoting a product, the attention of potential customers is attracted and an interest in the product aroused, creating a desire for the product and encour­aging customers to take prompt action (AIDA).

For a marketing plan to be successful, the mix of the four "p's" must reflect the wants and desires of the consumers in the target market. Trying to convince a market segment to buy something they don't want is extremely expensive and seldom successful. Marketers depend on marketing research to determine what consumers want and what they are willing to pay for. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of this process.

When companies try to identify or appeal to specific groups of customers, they talk about segmenting a market in a process of segmentation.

Market segmentation is the process of grouping a market into smaller subgroups. It is derived from the recognition that the total market is often made up of submarkets (called segments). These segments are homogenous within (i.e. people in the segment are similar to each other in their attitudes about certain variables). Because of this intra-group similarity, they are likely to respond somewhat similarly to a given marketing strategy. That is, they are likely to have similar feelings about a marketing mix comprised of a given product, sold at a given price, distributed in a certain way, and promoted in a certain way

Market share is the proportion of sales that a company or a product has in a particular market. The market leader is the company or product with the biggest share.

A product or business generating a lot of profit is a money spinner.

A cash cow is a profitable product or business with high market share in a low-growth market, but it is also used to mean any profitable product or business generating a steady flow of sales revenues.

A loss leader is a product that has a price set below the operating margin. This results in a loss to the enterprise on that particular item, but this is done in the hope that it will draw customers into the store and that some of those customers will buy other, higher margin items

Market growth is the rate at which the overall market is growing (or not, as the case may be).