1. Learning about marketing

Ex. 1.

a) Learn the pronunciation of the following words:

advertising [ ] service [ ] quality [ ] competitive [ ]

consumer [ ] accept [ ] value [ ] accurate [ ]

potential [ ] publicity [ ] specialize [ ] differentiate [ ]

persuade [ ] technique [ ] manufacturer [ ] concept [ ] determine [ ] prototype [ ]

manipulate [ ] capture [ ] physical [ ] manage [ ]

manage [ ] competitor [ ]

b) Group the words into three columns according to their part of speech: noun, verb, adjective. Pay attention to suffixes.

Ex. 2. Read and translate the text: Learning about marketing

Too many people think that marketing is little more than a combination of good selling & effective advertising. Ask people what comes to mind when they hear the word "marketing" & most will say "selling" or "advertising" or some other word having to do with manipulating or persuading consumers. But marketing means much more. It means paying careful attention to consumer wants & needs & then satisfying them. Effective marketing means that a business listens to consumers & responds to them. A popular slogan to describe marketing is this:

"Find a Need & Fill it".

Marketing is the process of studying the wants & needs of others & then satisfying those wants & needs with quality goods & services (products) at competitive prices. Marketers satisfy consumer wants & needs by assisting in the exchange of items of value. Certain conditions must be met before an exchange can take place: 1) There must be at least two participants. 2) Each participant must have sth that is of value to the other participant (s). 3) Each participant can communicate with others. 4) Each participant is free to accept or reject the offer of others. 5) Participants feel that it is appropriate or desirable to exchange with others.

The basis of marketing is finding a need & filling it. The first step is to find a need. The next step is to develop a product to fill that need. A product is any physical good, service, or idea that satisfies a want or need. It is a good idea at this point to do concept testing. That is, you develop an accurate description of your product & ask people whether or not the concept appeals to them. If it does, you must go to a manufacturer that has the equipment & skills to design such product and begin making prototypes. Prototypes are samples of the product that you take to consumers to test their reactions. The process of testing products among potential users is called test marketing. If consumers like the product, you can turn the production process. Production is not part of the marketing process. Marketing helps to determine what products should be made, but it does not make them.

Once the product is made, you have to design a package, think up a brand name for the product, & set a price. A brand name is a word, letter or group of words or letters to differentiate the goods & services of a seller from those of competitors. Once the product is manufactured, you have to choose how to get it to the consumer. You may sell it directly or through organizations that specialized in distributing different kinds of goods. Such organizations are called marketing middlemen because they are in the middle of a series of organizations that distribute goods from producers to consumers.

The last step in the marketing process is to promote the product to consumers. Promotion consists of all the techniques sellers use to capture markets. They include advertising, personal selling, publicity, & various sales promotion efforts such as coupons, rebates, free samples, contests, lotteries, catalogues, exhibits, shows, etc.

Managing the market process involves four factors after a need is discovered:

1. design a want – satisfying product; 2) set a price for the product; 3) get the

product to a place where people will buy it; 4) promote the product. These four factors are called the four Ps of marketing.