Scribd
Upload
44 views2 pages

Lesson 2

This document discusses marketing and its key elements. Marketing involves moving goods from manufacturers to customers and includes four main elements: product, price, placement, and promotion. The product element involves research and development of new products, market research, quality testing, and product introduction. The document then explains each of the four P's of marketing - product, price, placement, and promotion - in more detail. It describes how price is set relative to competitors and gives examples. Placement involves distribution channels to get products to customers. Promotion uses personal selling and advertising to communicate with buyers.

Uploaded by

akramdjaiz12
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
44 views2 pages

Lesson 2

This document discusses marketing and its key elements. Marketing involves moving goods from manufacturers to customers and includes four main elements: product, price, placement, and promotion. The product element involves research and development of new products, market research, quality testing, and product introduction. The document then explains each of the four P's of marketing - product, price, placement, and promotion - in more detail. It describes how price is set relative to competitors and gives examples. Placement involves distribution channels to get products to customers. Promotion uses personal selling and advertising to communicate with buyers.

Uploaded by

akramdjaiz12
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

L esson 2 :

Marketing

Buying, selling, market research, Most companies have price with the
transportation, storage, advertising. market and sell their goods and services
These are all parts of the complex area of for average prices established by major
business known as marketing. In simple producers in the industry. The producers
terms, marketing means the movement of who establish these prices are known as
goods and services from manufacturer to price leaders.
customer in order to satisfy the customer
– The third element of the marketing pro-
and to achieve the company’s objectives.
cess – placement – involves getting the
Marketing can be divided into four main product to the customer. This takes place
elements that are popularly known as the through the channels of distribution. A
four P’s: product, price, placement and common channel of distribution is:
promotion. Each one plays a vital role in the Manufacturer – Wholesaler – Retailer – Customer.

success or failure of the marketing Wholesalers generally sell large

operation: quantities of a product to retailers, and re-


tailers usually sell small quantities to cus-
– The product element of marketing
tomers.
refers to the goods or service that the
– Finally, communication about the product
company wants to sell. This often involves
takes place between buyer and seller. This
research and development (R & D) of a new
communication between buyer and seller is
product, research of the potential market,
known as promotion. There are two major
testing of the product to insure quality,
ways promotion occurs: through personal
and then introduction to the market.
selling, as in a department store; and
– A company next considers the price to through advertising, as in a newspaper or
charge for its product. There are three magazine.
pricing options the company may take:
The four elements of marketing:
above, with, below the price that its
product, price, placement, and promotion-
competitors are charging. For example, if
work together to develop a successful
the average price of a pair of women’s
marketing operation that satisfies
leather shoes is 27$, a company that
customers and achieves the company’s
charges 23$ has prices below the market;
objectives.
a company that charges 27$ has prices
with the market; and a company that
charges 33$ has prices above the market.
I. Answer the following questions about marketing.

1. What is marketing?
2. What are the four main elements of marketing?
3. What is involved in the product element of marketing?
4. What are the three pricing options a company my take?
5. Using 70 $ as an average price for a table, what would be examples of pricing above, with, and
below the market?
6. What does placement involve?
7. What other advertising media are there besides magazines and newspapers?

II. Determine to which of the four P’s each problem is closely related: product, price,
placement, promotion.

Example: The advertising gives false information Promotion


1. The product is dangerous
2. The product is not available in enough stores
3. The product is too expensive
4. A salesclerk is rude to customers
5. The product is sold during the wrong season
6. The product is of poor quality
7. The advertising is offensive
8. The price of a product increase faster than the rate of inflation
9. The product is not available in your favourite stores.

III. Look at the terms in the left-hand column and find the correct synonyms or
definitions in the right-hand column.

1. Insure A. Choice
2. Retailer B. One who sells in small amounts to customers
3. Option C. Please
4. Competitor D. Guarantee
5. Personal E. The path goods take when moving from
manufacturer to customer
6. Objective F. Private, relating to an individual
7. Satisfy G. accomplish
8. Take place H. Occur; happen
9. Channel of distribution I. Rival; opponent
10. Achieve J. goal

You might also like