Marketing

Marketing involves analysing and understanding customer demand in order to enable the company to provide the most appropriate products and services.

A company’s approach to achieving its marketing objectives is called marketing strategy.

The various factors a company must take into consideration when developing its marketing objectives are referred to as marketing mix. The marketing mix is often summarized as the so-called four P’s: product, price, place, promotion: what to sell, to whom, where, and with what support.

Product can be defined as goods or service that you are marketing and includes its design, quality and reliability.

Price refers to how much money a company charges for its products. The marketing view of pricing involves considering the value of a product, the volume of sales required.

Place refers to distribution, that is, how and where the product is made available to customers.

Promotion means presenting the product to the customer. Promotion involves considering the packaging and presentation of the product, its image, the product name, advertising.

Exercises in Word Study

Ex.1. Form nouns from the following verbs:

involve, analyse, provide, achieve, consider, summarize, pay, distribute, present.