1．
Read the following passage and choose the best sentence (A-H) to fill each of the gaps.There is one extra sentence.
A These four elements are the product offerings, the price structure, the promotional activities,and the distribution system.
B It is called the marketing concept, and it is based on three fundamental beliefs:
C That is, marketing occurs any time one social unit (person or organization) strives to exchange something of value with another social unit.
D They may be distributed through wholesalers or directly to retailers, and so on.
E Also, each of the four contains countless variables.
F In sum, a sound marketing program starts with the identification and analysis of the target market for a product or service.
G In its fullest sense, the marketing concept is a philosophy of business that states that the customers, want-satisfaction is the economic and social justification for a firm’s existence.
H Strategic marketing planning should be done within the context of the organization’s overall strategic planning.
As you may gather, marketing is a very broad-based activity, and consequently,it calls for a broad definition. Now the essence of marketing is a transaction—an exchange—intended to satisfy human needs and wants. (1) 1 Our broad definition then is as follows: Marketing consists of all activities designed to generate and facilitate any exchange intended to satisfy human needs or wants.
Our micro definition of marketing—applicable in a business or non-business organization—is as follows: Marketing is a total system of business activities designed to plan, price, promote, and distribute want-satisfying products, services, and ideas to target markets in order to achieve organizational objectives.
As business people have come to recognize that marketing is vitally important to the success of a firm, an entirely new way of business thinking—a new philosophy—has evolved. (2) 2
All company planning and operations should be customer-oriented.
The goal of the firm should be profitable sales volume and not just volume for the sake of volume alone.
All marketing activities in a firm should be coordinated organizationally.
(3) 3 Consequently, all company activities should be devoted to determining customers, wants and then satisfying those wants, while still making a profit over the long run.
(4) 4 The strategic marketing planning process consists of 1. conducting a situation analysis, 2. setting marketing goals, 3. selecting target markets, 4. designing a strategic marketing mix to satisfy those markets and achieve those goals, and 5. Preparing an annual marketing plan to guide the tactical operations.
Marketing mix is the term that is used to describe the combination of the four inputs that constitute the core of an organization’s marketing system. (5) 5
The four“ingredients”in the marketing mix are interrelated. Again we see the systems concept; decisions in one area usually affect actions in the others. (6) 6 A company may market one item or several related or unrelated. (7) 7 Ultimately,from the multitude of variables, management must select the combination that will ① best adapt to the environment, ② satisfy the target markets, and ③ still meet the organizational and marketing goals.
2．Match each vocabulary word on the left with the correct definition on the right.
margin
speculation
accelerate
