lOMoARcPSD|50730876 UNIT 6:
UNI T 9 MARKETING PREVIEW PREVIE W
https://www.studocu.com/en-us/document/monroe-college/marketing/lecture-
notesmarketing-complete/721079 1. What is market research?
Market research is the process of determining the viability – tính khả thi - of a new
service or product through research conducted directly with potential customers.
Market research allows a company to discover the target market and get opinions and other
feedback from consumers about their interest in the product or service.
2. How can a business identify consumer needs?
3. What does “new product development” refer to? 4. What is advertising?
5. What are different forms of advertisements? - TV ads - Newspaper ads - Radio spots - Posters
- Leaflets/ brochures/ catalogues 6. What is promotion? 7. What is marketing?
The process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return
Advertise (v) to make a product or service known about in order to sell it, for example
using the internet, magazines, television, or billboards: quảng cáo - Financial companies
have changed the way they advertise. -
The product was heavily advertised in local media. advertise sth as sth -
The bond was originally advertised as "no liability to basic rate income tax". Advertisement (n)
Market segments – phân doạn thị trường Market segmentation –
Market positioning strategy – chiến lược định vị thị trường 1 lOMoARcPSD|50730876
Marketing always plays a very important role in the company’s success. There are some
different definitions of marketing, a modern definition of marketing is by Peter Drucker,
Management: Tasks, Responsibilities, Practices: “There will always, one can assume, be
a need for some selling. But the aim of marketing is to make selling superfluous. The aim
of marketing is to know and understand the customer so well that the product or service
fits him and sells itself. Ideally, marketing should result in a customer who is ready to buy.”
Now complete the following definition of marketing, by inserting these verbs in the
gaps below:
design develop identify influence modify persuade
Marketers have to: (1) ……… …….. or anticipate a consumer need; (2) …… ………. a
product or service that meets that need better than any competing products or service; (3)
……… ………… target customers to try the product or service; and, in the long term, (4)
………… ………… it to satisfy changes in consumer needs or market conditions.
Marketers can (5) …… …………. particular features, attractive packaging, and effective
advertising, that will (6) ……… ……… consumer’s wants. Marketing thus combines
market research, new product development, distribution, advertising, promotion, product improvement, and so on.
Survey (n) an examination of people's opinions, behaviour, etc. made, for example, by
asking them questions: khảo sát
a survey finds/reveals/shows – khảo sát cho thấy -
A survey of 584 companies has found that there is no relationship between a
company's sales incentive plan structure and its gain or loss in market share.
conduct/carry out/do a survey – tiến hành khảo sát -
We should conduct a survey to find out what our customers really want. Life cycle of a product Design = produce samples
Modify sth = make some changes to it Modifications
Meet / satisfy + sth – đáp ứng
Marketing (n) the business activity that involves finding out what customers want, using
that information to design products and services, and selling them effectively: -
Mr. Harris was previously director of sales and marketing.
a marketing campaign/ plan/ strategy 2 lOMoARcPSD|50730876
- Part of her job involves devising clever marketing strategies. a marketing company/ department/ division
- He operated his own marketing company until his major client got sold last year.
marketing costs/expenses/budget
- Loyal customers are easier to retain, so marketing costs for these customers should be lower.
a marketing director/manager/officer
- He was marketing director of coloring and skincare products and has recently been
appointed overall marketing director.
“Both customers and staff come first.”
Modify (v) to change something slightly, esp. to improve it or make it more acceptable or less extreme:
- The school board decided to modify its existing employment policy.
Modification (n) something that is changed slightly, esp. to improve it or make it more acceptable or less extreme:
- [ U ] behavior modification
- [ C ] Several modifications have been made in the proposals. Make modification
Identify (v) to find and be able to describe someone or something: identify what/which/who
- To create an effective advertising campaign you must first identify who your target
market is. = target customers are.
- A good business recovery service should include an initial risk assessment to
identify which essential processes are at risk and how the risk can be reduced. Identification (n)
Persuade (v) to cause people to do or believe something, esp. by explaining why they should:
- The government is trying to persuade consumers to save more.
- She tried to persuade them that they should leave.
Persuasive (adj) US /pər swe ·s v, -z v/ - có sức thuyết phục ˈ ɪ ɪ ɪ
- a persuasive argument 3 lOMoARcPSD|50730876 READINGREADING
Look quickly through the following text and decide which paragraphs are about these subjects:
…………… - company-to-company marketing
…………… - identifying market opportunities
…………… - the marketing mix
……P1……... – the selling and marketing concepts
…………... – the importance of market research
THE CENTRALITY OF MARKETING
1. Most management and marketing writers (researchers) now distinguish between selling
and marketing. The “selling concept” assumes that resisting consumers have to be
persuaded by vigorous hard-selling techniques to buy non-essential goods and services.
Products are sold rather than bought. The “marketing concept”, on the contrary, assumes
that the producer’s task is to find wants and fill them. In other words, you don’t sell what
you make, you make what will be bought. As well as satisfying existing needs, marketers
can also anticipate and create new ones. The markets for I-phones, video games, personal
computers, and genetic engineering, to choose some recent examples, were largely created rather than identified.
1. What is the “selling concept”?
2. What is the “marketing concept”?
3. What are differences between selling and marketing concepts?
The selling concept and marketing concept are based on different principles.
- Selling concept means that the producers produce goods and services first, then
they try to sell them, while marketing concept means that the producers have to do
market research first to identify/ determine/ find out customers’ needs or even create
new ones, then they produce goods and services to satisfy these needs and wants.
- Selling focuses on the needs of the seller and marketing focuses on the needs of the buyer.
- The company’s success relies on its ability to create, deliver and communicate a
better value for its target customers in comparison with its competitors
(In conclusion, marketing concept should be more applicable than selling concept and
companies pursuing selling concept often fail in business.) 4 lOMoARcPSD|50730876
The first diagram contrasts the selling and the marketing concepts. Fill in the four spaces
with the following words or expressions: • Coordinated marketing Market • Customer needs
Profits through customer satisfaction
Starting point Focus Means Ends
Factory Products Selling and promoting Profits through sales (a) The selling concept
(1) ………………………. (2) ……………………….. (3) ……………………….. (4) ………………………………..
…………………………… ……………………….. ……………………….. ……………………………….
(a) The marketing concept
(1) coordinated marketing – (2) customer needs - (3) Market (selling) – (4) profit through customer satisfaction
Distinguish between sth and sth – phân biệt vigorous hard-selling techniques advertise (v)
to make something known generally or in public, especially in order to sell it:
- We advertised our car in the local newspaper.
- He advertises his services on the company notice board.
- I'm going to advertise for (= put a notice in the newspaper, local shop, etc., asking
for) someone to clean my house.
- There's no harm in applying for other jobs, but if I were you, I wouldn't advertise
the fact (= make it generally known) at work.
How can producers/ sellers persuade consumers to buy their goods and services? = by
advertising their goods and services on mass media (means of communication) such as
TV, radio, electronics newspapers, traditional newspapers, leaflets, brochures, catalogues, posters.
Types of advertisements: loại hình quảng cáo: - TV ads (advertisements) - Radio spots
Advertisement (n) a picture, sign, etc. that is used to make a product or service known and persuade people to buy it: an advertisement for sth
- Her first modelling job was in an advertisement for baked beans.
place/ put an advertisement somewhere
- They have started to place advertisements in popular magazines. run an advertisement 5 lOMoARcPSD|50730876
- Like other blogs, his sites run advertisements for debt-reduction? services. an
advertisement + features/ shows sth – cho thấy
- The advertisement features a father reading a bedtime story to his young daughter.
a television/ newspaper/ internet, etc. advertisement
- A full-page advertisement costs £600 in her publication.
2. Marketers are consequently always looking for market opportunities – profitable
possibilities of filling unsatisfied needs or creating new ones in areas (segments) in which
the company is likely to enjoy a differential advantage, due to its distinctive competencies
(the things it does particularly well). Market opportunities are generally isolated by market
segmentation. Once a target market has been identified, a company has to decide what
goods or service to offer. This means that much of the work of marketing has been done
before the final product or service comes into existence. It also means that the marketing
concept has to be understood throughout the company, e.g., in the production department
of a manufacturing company as much as in the marketing department itself. The company
must also take account of the existence of competitors, who always have to be identified,
monitored and defeated in the search for loyal customers.
- Market opportunities are generally isolated by market segmentation
.Cơ hội thị trường nói chung được phân tích, bóc tách thông qua phân đoạn thị trường.
- Market segmentation refers to dividing the market into different segments based on
different categories such as incomes, ages, geographical locations, and so on.
take account of = consider – xem xét Marketers / marketing managers
1. What are market opportunities?
2. What does “market segmentation” mean?
3. How can a company identify market opportunities?
A company can identify market opportunities by determining which market segment it
should operate in by applying the SWOT analysis which identifies strengths, weaknesses
of the company, as well as opportunities and threats to the company.
https://www.businessnewsdaily.com/4245-swot-analysis.html
market positioning – định vị thị trường
3. Rather than risk launching a product or service solely on the basis of intuition or
guesswork, most companies undertake market research (GB) or marketing research (US). 6 lOMoARcPSD|50730876
They collect and analyze information about the size of a potential market, about the
consumers’ reactions to particular product or service, features, and so on. Sales
representatives, who also talk to customers, are another important source of information.
Shop assistants – nhân viên bán hàng
Sales representatives – nhân viên bán và tư vấn Launch (v) a product = Research (v + n)
1. What is “market research”?
Market research is the process of determining the viability – tính khả thi - of a new
service or product through research conducted directly with potential customers.
Cụ thể là xác định sản phẩm mới có mang lại sự hài lòng cho khách hàng hay không.
Specifically, determining if the new product satisfy the needs of customers or brings profits for the company.
viability (n) the degree of chance that something will succeed: tính khả thi the viability of sth
- Her role was to assess the viability of investment options overseas.
commercial/economic/financial viability
- This year will serve as an important test of commercial viability for the new electric vehicles. future/long-term viability
- The long-term viability of the coal-fired power plants is at risk.
2. What are methods of market research? In order to research the market, what should themarketers do?
3. What are sources of information needed for market research and how to collect them?
4. What methods of analyzing information collected for market research can be used/applied?
5. What is the important role of market research for the company’s success?
https://www.questionpro.com/blog/what-is-market-research/
https://www.questionpro.com/blog/quantitative-market-research/
https://www.questionpro.com/blog/qualitative-research-methods/
4. The determination of marketing mix 7 lOMoARcPSD|50730876
Once the basis offer, e.g., a product concept, has been established, the company has to
think about the marketing mix, i.e. all the various elements of a marketing program, their
integration, and the amount of effort that a company can expend on them in order to
influence the target market. The best-known classification of these elements is the “4Ps”:
product, place, promotion and price. Aspects to be considered in marketing products
include quality, features (standard and optional), style, brand name, size,
packaging, services and guarantee. Place in a marketing mix includes such factors
as distribution channels, locations of points of sale, transport, inventory size,
etc. Promotion groups together advertising, publicity (Public relations), sales
promotion and personal selling, while price includes the basic list price,
discounts, the length of the payment period, possible credit terms, and so on.
It is the job of a product manager or a brand manager to look for ways to increase sales by changing the marketing mix.
1. What do “marketing products” include? – yếu tố “sản phẩm” marketing bao gồm cáigì?
2. What does “marketing promotion” include?
3. What does “marketing price” include?
4. What does “marketing place” include?
5. What are 4Ps of the marketing mix? Place = distribution Promotion - quảng bá Price – định giá
Standard features: đặc điểm chung
Optional features: đặc điểm riêng
Integrate (v) to combine two or more things into one: integrate sth with sth
- We're planning to integrate the sales department with the marketing department. integrate sth into sth
- We need to develop an online shopping application and integrate it into our website.
Integrate (v) to become part of a group of people: integrate sb into sth
- Our induction program helps new staff members to integrate themselves into the team. integrate with sth 8 lOMoARcPSD|50730876
- Dave seems to be finding it hard to integrate with his colleagues.
Integration (n) the process of combining two or more things into one: integration across sth
- We need to reduce the differences between local units, with the aim of greater
integration across markets.
integration between sth and sth
- How can we achieve a higher level of integration between our company and our supply-chain partners? integration into sth
- The book examines China's integration into the global economy. integration (of sth) with sth
- One of the company's weaknesses is poor integration of business processes with information systems.
close/smooth/total integration
- The new database will mean smoother integration with suppliers.
https://www.questionpro.com/blog/what-is-market-research/
5. It must be remembered that quite apart from consumer markets (in which people buy
products for direct consumption) there exist enormous producer or industrial or business
+ markets, consisting of all the individuals and organizations that acquire = buy goods and
services that are used in the production of other goods, or in the supply of services to
others. Few consumers realize that the producer market is actually larger than the
consumer market, since it contains all the raw materials, manufactured parts and
components that go into consumer goods, plus capital equipment such as buildings and
machines, supplies – cung ứng vật tư - such as energy and pens and paper, and services
ranging from cleaning to management consulting, all of which have to be marketed.
There is consequently more industrial than consumer marketing, even though ordinary
consumers are seldom exposed to it. 1. What are consumer markets?
2. What are producer / industrial / business markets?
3. What does the term “company-to-company marketing? - retail/ wholesale
COMPREHENSION QUESTIONS COMPREHENSION
1. Answer the following questions 9 lOMoARcPSD|50730876
1. What does the term “market opportunities” in the second paragraph mean?
2. Why should the production department should understand the marketing concept?
3. Why must the company consider the existence of competitors?
4. What are the elements of the marketing mix?
5. What aspects are considered in marketing products?
6. What factors are included in promotion?
7. Which is larger, consumer market or producer market?
2. Look at the following diagrams from Marketing Management by Philip Kotler.
The first diagram contrasts the selling and the marketing concepts. Fill in the four spaces
with the following words or expressions: • Coordinated marketing Market • Customer needs
Profits through customer satisfaction
Starting point Focus Means Ends
Factory Products Selling and promoting Profits through sales (b) The selling concept
(1) ………………………. (2) ……………………….. (3) ……………………….. (4) ………………………………..
…………………………… ……………………….. ……………………….. ……………………………….
(b) The marketing concept
Market- coordinated marketing - customer needs- profit through customer satisfaction
3. Which of the following three paragraphs most accurately summarizes the reading text, and why? First summary
Marketing means that you don’t have to worry about selling your product, because you
know it satisfies a need. Companies have to identify market opportunities by market
segmentation: doing market research, finding a target market, and producing the right
product. Once a product concept has been established, marketers regularly have to
change the marketing mix – the product’s features, its distribution, the way it is
promoted, and its price – in order to increase sales. Industrial goods – components and
equipment for producers of other goods – have to be marketed as well as consumer goods Second summary 10 lOMoARcPSD|50730876
The marketing concept has now completely replaced the old-fashioned selling concept.
Companies have to identify and satisfy the needs of particular market segments. A
product’s features are often changed, as are its price, the places in which it is sold, and
the way in which it is promoted. More important than the marketing of consumer goods
is marketing of industrial or producer goods. Third summary
The marketing concept is that a company’s choice of what goods and services to offer
should be based on the goal of satisfying consumers’ needs. Many companies limit
themselves to attempting to satisfy the needs of particular market segments. Their choice
of action is often the result of market research. A product’s features, the methods of
distributing and promoting it, and its price, can all be changed during the course of its
life, if necessary. Quite apart from the marketing of consumer products, with which
everybody is familiar, there is a great deal of marketing of industrial goods. VOCABULARY EXERCISEVOCABULARY EXERCISE
Match up the words or expressions on the left with the definitions on the right. 1 distribution
9 product features10 sales representative channel 2 to launch a LANGUAGE FOCUSLANGUAGE product3 market FOCUS A
all the companies or individuals involved in moving opportunities
aparticular good or service from the producer to the 4 market consumer B
an idea for a new product, which is tested with research 5
targetconsumers before the actual product is developed C market
attributes or characteristics of a product: quality, price, reliabilities, etc. segmentation 6 D
dividing a market into distinct groups of buyers packaging
whohave different requirements or buying habits E
places where goods are sold to the public – shops, 7 points of sale
stores,kiosks, market stalls, etc. F
possibilities of filling unsatisfied needs in sectors 8 product concept
inwhich a company can profitably produce goods or services 11 lOMoARcPSD|50730876 G someone who
H collecting, analyzing and reporting data relevant to contacts existing and
aspecific marketing situation (such as a proposed new potential customers, product) and tries to persuade
I to introduce a new product onto the market them to buy goods or
J wrappers and containers in which products are sold services
Ways of explaining the meaning of words
One method of learning new vocabulary while developing reading skills is to use
the context. Many times in the context, the sentence or passage in which the word
occurs, will explain the meaning of the word. One way to spot items defined by
context is to look for words which are synonyms for the verb “to be”. Examples
are: such as, refer to, consist of, involve, include, mean
Besides words that indicate definitions, there are other techniques of using context
to arrive at a meaning. Sometimes the verb in the sentence will explain what the
function of the subject is, for example:
- A creditor lends money which usually is paid back in a certain time with interest.
Similarly, the object or another element of the sentence may suggest the meaning of a word. PRACTICE
1. Read paragraph 4 again and write down the expressions that
indicatedefinitions, examples and explanations.
2. Fill in the gaps in the following sentences with words in the box.
forms of include are examples of refers to relate to such as
1. Business may …………….. the production of goods: making airplanes, buildinghouses, and so on.
2. Producing computers, processing foods are ………………... production.
3. Lending money, trading stocks and bonds, and selling insurance policies
……………..the securing of capital for business activities.
4. Other ………………… business include merchandising, which is the selling
ofproducts, and providing various services, …………… accounting, distributing, and repair.
5. The four factors of production …………….. land, labor, capital, and entrepreneurship.
6. Land ……………. a piece of real estate where we might build a factory and all theraw
materials used for production. GLOSSARYGLOSSARY 12 lOMoARcPSD|50730876
- Marketing (n) [ˈ ɑː ɪ ɪm k t ŋ]: All activities a company conducts in order to acquire
and retain customers or clients.
E.g: At all points of the modern marketing system people have formed associations and
eliminated various middlemen in order to achieve more efficient marketing.
- Marketer (n): company or person who works in marketing – công ty; người hoạt
động trong lĩnh vực marketing
E.g: A good marketer can find a way to sell even an unattractive product.
- Anticipate (v) [æn t s pe t]: to foresee and act in advance of ˈ ɪ ɪˌ ɪ – liệu trước, lường trước
E.g: He anticipated the fall in value by selling his goods early.
- satisfy (v) [ˈsæt s fa ]: to fulfil the desires or needs of (a person) ɪ ˌ ɪ - làm hài
lòng E.g: The apple didn't satisfy my hunger.
I told him enough to satisfy his curiosity.
- target customers / target consumers (n): It is people or a group of people who are
targeted to buy a certain product. - khách hàng mục tiêu
E.g: Defining a target customer is the first step in the market segmentation process. The
old people are target customers of this new mobile phone.
- market condition (n): the state/ situation in the market- điều kiện thị trường E.g:
Any change in the price of the product is closely related to the current market condition.
- research (n): study of sth- sự nghiên cứu
E.g: He is doing a research on how customers react to their new dishes.
- research (v): study or examine- nghiên cứu
E.g: Researching the target customers’ taste is a very necessary step when making a new product.
- wants (n) [w nt, w nt] - something that you feel you need, or you really desire,ɒ ɔ
but not having it doesn't mean you die – nhu cầu
E.g: The company needs to respond to the wants of our customers.
- needs (n): a basic living essential i.e. if you don't have it, you could die. needs are
the things which make ones satisfaction arise when attained. Needs can be natural
or man-made. – nhu cầu thiết yếu
- market segmentation (n): process of dividing the market according to similarities
that exist among the various subgroups within the market - phân đoạn thị trường
E.g: - There are four basic market segmentation strategies: behavior segmentation,
demographic segmentation, geographic segmentation, and physiographic segmentation.
- Good market segmentation can orient the manufacturers to avoid the mistakes in setting the price. 13 lOMoARcPSD|50730876
- loyal customers (n): regular buyers of a company or a shop- khách hàng thân thiết
E.g: Shops often have a lot of supporting programs for loyal customers.
- potential (adj): can be developed in the future- tiềm năng E.g: Canon is one of the
potential clients of the company.
- marketing mix (n): set of different substances together in marketing- tổ hợp marketing
E.g: The marketing mix includes 4Ps: product, price, place, and promotion.
- promote (v) [prə mə t]: help sth happen or developˈ ʊ
- thúc đẩy, xúc tiến
E.g: To promote the product successfully, Ms Ross was responsible for the advertising campaign
- sales promotion (n) [prə moˈ ʊ ʃ ən] : Stimulation of sales achieved through
contests, demonstrations, discounts, exhibitions or trade shows, games, giveaways,
point-of-sale displays and merchandising, special offers, and similar activities - xúc tiến thương mại.
E.g: Generally, promotion is communicating with the public in an attempt to influence
them toward buying your products and/or services.
- distribute (v) [d str bju t]: To supply (goods) to retailers ɪˈ ɪ ː - phân phối
E.g: Phat Viet company distributes Naris cosmetics in the North of Vietnam
- distribution (n): All activities that involve efficient movement of finished products
from the end of the production line to the consumer - sự phân phối
E.g: The selection of distribution channels and sales representation is key to successful marketing.
- guarantee (v) [ˌgærən ti ]: To assume responsibility for the quality orˈ ː
performance of, e.g. guarantee a product.- bảo hành E.g: This watch is guaranteed for six months.
- guarantee (n) A promise or an assurance, especially one given in writing, that
attests to the quality or durability of a product or service.
- brand name (n): a word, name, etc., used by a company to identify its products or
services distinctively – nhãn hiệu
E.g: Adidas is a brand name of sporty clothes.
QUESTIONS FOR DETAILS (Viết câu trả lời cho các câu hỏi sau)
1. What is the “selling concept”?
“selling concept” suggests that the producers produce goods & services first, and then
persuade customers to buy them. 14 lOMoARcPSD|50730876
2. What is the “marketing concept”?
Marketing refers to many different business activities that involve finding out what
customers’ wants and using that information to produce goods & services and selling them effectively.
Marketing refers to coordinated activities including market research, new product
development, distribution, advertising, promotion, product improvement, and so on,
aiming at promoting sales / for the purpose of promoting sales.
3. What are differences between selling and marketing concepts?
The selling concept and marketing concept are based on different principles.
- For selling concept, the producers produce goods and services first, then they try to sell them.
- For marketing concept, the producers have to do market research, then they produce
goods and services to satisfy these needs and wants.
4. What are market opportunities?
Profitable possibilities of filling unsatisfied needs or creating new ones in areas (segments)
in which the company has relative/ comparative advantage.
Market segments (n) các phân đoạn thị trường
5. What does “market segmentation” mean?
Market segmentation means dividing/ classifying the market into different segments
according to different categories (such as regions, ages, incomes, etc)
Based on regions: rural area (khu vực nông thôn), urban – thành phố - mountain area
Based on age: baby, teenage, adults, middle age, the old, Based
on incomes: low – medium – high incomes
6. How can a company identify market opportunities?
Market opportunities are generally isolated by market segmentation.
Công ty xác định cơ hội thị trường bằng cách phân chia thị trường thành các phân đoạn và
xác định xem công ty có lợi thế tương đối trong phân đoạn thị trường nào.
The company can identify market opportunities by classifying the market into different
segments and determine the segments in which it has comparative advantage
7. What is “market research”?
Market research is defined as the process of evaluating the feasibility (tính khả thi) of a
new product or service, through research conducted directly with potential consumers. 15 lOMoARcPSD|50730876
8. What are activities of market research? In order to research the market, what shouldthe marketers do?
9. What are sources of information needed for market research and how to collect them?
10. What methods of analyzing information collected for market research can be used/applied?
11. What is the important role of market research for the company’s success?
12. What do “marketing products” include?
13. What does “marketing promotion” include?
14. What does “marketing price” include?
15. What does “marketing place” include?
16. What are 4Ps of the marketing mix?
17. What are consumer markets?
18. What are producer / industrial / business markets?
19. What does the term “company-to-company marketing?
https://www.questionpro.com/blog/what-is-market-research/
https://www.youtube.com/watch?v=CRoXamNM-yA for listening
https://www.youtube.com/watch?v=81nbFq0M3xw for listening 16 lOMoARcPSD|50730876 17