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Marketing
Marketing is the creation of long-term demand, while sales is the execution of marketing
strategies. Marketing is buying the land, choosing what crop to grow, planting the crop,
fertilizing it, and them deciding when to harvest. Sales is harvesting the crop. Salespeople in
general don’t think strategically about the business
Marketing is the process of planning and executing the conception, pricing, promotion and
distribution of ideas, goods, and services to create exchanges that satisfy individual and
organizational objective
Marketers have to
 Identify or anticipate a consumer need
 Develop a product or service that meets that need better than any competing products or
services
 Persuade target customers to try the product or service
 And in the long term, modify it to satisfy changes in consumer needs or market conditions.
Marketers can design particular features, attractive packaging, and effective advertising, that will
influence consumers` wants. Marketing thus combines market research, new product
development, distribution, advertising, promotion, product improvement, and so on.
Necessary marketing vocabulary
Distribution channel – all the companies or individuals involved in moving a particular good or
service from the producer to the consumer
To launch a product – to introduce a new product onto the market
Market opportunities – possibilities of filling unsatisfied needs in sectors in which a company
can profitable produce goods or service
Market research – collecting, analyzing and reporting data relevant to a specific marketing
situation
Market segmentation – dividing market into distinct groups of buyers who have different
requirements or buying habits
Packaging – Wrappers and containers in which products are sold
Points of sale – places where product is sold
Product concept – idea for a new product, which is tested with target consumers before the
actual product is developed
Product features – attributes or characteristics of a product: quality, price, reliability, etc.
Sales representative – someone who contacts existing and potential customers, and tries to
persuade them to buy goods or services