Marketing

21 Marketing and market orientation
A Marketing
Marketing is the process of
planning – identifying future needs for –
designing – developing and making –
goods/services in order to satisfy
pricing – deciding the price for –
customer needs profitably.
promoting – informing customers about –
distributing – making available –
The marketing concept should be shared by everyone in an organization – all managers
and employees, not just those in the marketing department, should think in these terms
of profitability through satisfying customer needs.
Companies point out how the special features – important characteristics and qualities –
of their products and services possess particular benefits – advantages – in relation to the
needs of the people who buy them.
Non-profit organizations have other goals, such as persuading people to give money
to help people in poor countries, but these organizations also use the techniques of
marketing. This is social marketing.
In some places, even totally different organizations such as government departments think
about – or at least talk about – their activities in terms of the marketing concept.
B The four Ps
The four Ps are:
product – deciding what to sell
price – deciding what prices to charge
place – deciding how the product will be distributed and
where people will buy it
promotion – deciding how the product will be supported
with advertising, special activities, etc.
A fifth P which is sometimes added is packaging – the materials
used to protect and present a product before it is sold.
The four Ps are a useful summary of the marketing mix – the
activities that you have to combine successfully in order to sell.
The next four units look at these activities in detail.
To market a product is to make a plan based on a particular marketing mix and put it into
action. The marketing plan for a new product or service shows how this can be realized.
A marketer or marketeer is someone who works in this area.
Marketer can also be used to describe an organization that sells particular goods or services.
Note
Marketeer is also used in expressions such as free marketeer – someone who believes
in the benefits of the market economy (see Unit 19) and black marketeer – someone
who makes money by selling goods illegally in a place where they are not normally available.
C The market orientation

Marketers often talk about market orientation – the fact that everything they do is
designed to meet the needs of the market. They, their organizations and the products they
sell may be described as market-driven, market-led or market-oriented.
50 Business Vocabulary in Use Intermediate

Exercises
21.1 Read this conversation from a marketing meeting. Replace the underlined expressions with
expressions from A and B opposite. The first one has been done as an example.
Annika: There’s a real customer need out there. We

really want a (1) coherent set of ideas on how we’re
successfully going to design and sell the product.
marketing plan
Baltazar: Yes, and we’ve got to decide on the

product’s (2) important characteristics and
qualities and (3) advantages.
Annika: We’ve got to work out (4) what we’re going

to sell, (5) how we’re going to communicate this,
(6) where we’re going to sell it and (7) what people
are going to have to pay for it.
Baltazar: That’s right, the (8) whole combination.

And we mustn’t forget about (9) how we’re going to
protect the product and make it look attractive.
Annika: Yes, we’re first-class (10) specialists in this

area (2 possibilities).
21.2 Match the sentence beginnings (1–7) with the correct endings (a–g). The sentences all contain
expressions from C opposite.
1 There are now more efficient and a in several markets at once.
market-oriented b and replaced state planning with a market-
2 Since the 1990s, China has had a much oriented system.
more market-led c – where a common spirit improves the
3 Many of today’s best market-led growth work – are not easy to make or keep going
businesses – General Electric, Microsoft, in our market-driven society.
Virgin and Sony – are d approach to economics.
4 Lack of investment and poor market e left the companies with falling sales and
orientation profits.
5 For 50 years, American television has f farms with less dependence on government
been a market-driven industry, money.
6 Deng decentralized control over the g and the audience has decided the direction
economy it takes.
7 Communities of actors, writers, directors
and technicians
Over to you
Think of an organization that is famous for being market-oriented. What factors are
important?
Business Vocabulary in Use Intermediate 51

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21 Marketing and market orientation

C The market orientation

50 Business Vocabulary in Use Intermediate

Annika: There’s a real customer need out there. We

Baltazar: Yes, and we’ve got to decide on the

Annika: We’ve got to work out (4) what we’re going

Baltazar: That’s right, the (8) whole combination.

Annika: Yes, we’re first-class (10) specialists in this

Business Vocabulary in Use Intermediate 51

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