MARKETING AS A SCIENCE

Marketing is closely related to economics, the social science concerned with the production, distribution, and consumption of useful goods and services. In traditional economic thought economic activity creates utilities of form, place, time, and possession. To marketers the form created is the product; place and time refer to having the product available where and when it is needed; and possession relates to ownership or transfer of title. Marketing is a part of the broad field of economics and helps to create these four all-important utilities.

Marketing is also related to other social sciences. It draws freely from sociology, the scientific analysis of social institutions as a functioning whole and as they relate to the rest of society. Marketing studies people in a social context, as members of different groups. Advertisers, for example, aim their appeals at particular market segments, such as the youth market, the urban market, the black market, or the farm market. Sociology helps us understand the differences not only between our society and those of other nations but also between various subcultures within our own country.

Psychology is the study of the mental, attitudinal, motivational, or behavioural characteristics of an individual or a group of individuals. Marketing practitioners find knowledge of psychology helpful in formulating advertising and sales campaigns. How do people think? What motivates them to buy? How can we change their buying habits? What price will have the strongest appeal? Psychological research has become a major tool of marketing analysts.

2. Match the sciences with their definitions:

1.The scientific study of human social behavior, the study of humans in their collective aspect. It is concerned with all group activities: economic, social, political, and religious and tries to determine the laws governing human behavior in social contexts.

2.The study of the mind and behavior attempting to understand the role of mental functions in individual and social behavior.

3.The study of the way goods and services are produced and sold and the way money is managed.

a) economics b) sociology c) psychology

3. Put the following sentences logically in the right order according to the text:

1.Individual characteristics help to advertise and sell.

2.Economic activities create utilities.

3.This science stresses the differences between nations and cultures.

4.These are the main questions the psychological research tries to answer.

5.Marketing is a part of economics.

6.All people are the members of the society.

4. Find words and phrases in the text which have similar meanings:

Paragraph 1

1.The ability of a good or service to satisfy a human need.

2.Any effort made by an individual, mental or physical, with the intention to earn something in return.

3.The act of having or taking into control

4.Suitable or ready for use; at hand; accessible.

Paragraph 2

1.The power of arousing a sympathetic response, attraction.

2.Relating to, characteristic of, or constituting a city.

3.The area of economic activity in which buyers and sellers come together.

4.A community, nation, or broad grouping of people having common traditions, institutions, and collective activities and interests.

Paragraph 3

1.To buy something.

2.The action of calling something to the attention of the public especially by paid announcements.

3.The collecting of information about a particular subject.

4.Someone whose job is to carefully examine a situation, event etc. in order to provide other people with information about it

1. Read the text. Do you think marketing is art or science? Prove your point of view.

MARKETING: ART OR SCIENCE?

Is marketing an art or a science? The answer is yes. Marketing is both – an art and a science.
Marketing is a science because marketing is about understanding and influencing behaviours. Psychology, the science of behaviours, studies how people react to certain stimuli in predictable ways. This is similar to Newton’s third law – cause and effect.
Marketing is an art because marketing is about appreciating the nuances of human behaviours. Beauty is in the eye of the beholder. Beauty is art.
Marketing is a science because marketing is about measuring and analyzing the numbers. How many do you reach? How many read your message? How many do you convert to buyers? How much do they spend? How many buy again? These are numeric questions and answers and important to the success of your marketing.
Marketing is art because marketing is creating a demand for your product. Some of that demand is immediate and some of it is in the future. You can try to use science to predict the future part but you might pick a number based on art. There is always an unknown aspect that we attribute to art.
Marketing is a science because the most common question is “How much money should I spend on marketing?” The business owner and the accountants want the answer to this question. It’s a good question but the more important question is, “What return can you expect from your marketing investment?”
Marketing is an art because there is the issue of branding which is difficult to measure. To generate a good return on your marketing investment requires a creative approach. That means apply the art of marketing.
Of course the argument of science versus art over marketing could go on. Is it art? Is it science?
Many marketers try to portray marketing as art. And hence they give up responsibility for their marketing programs. They suggest that marketing is all chance. Instead it is a science that should draw upon the art. Don’t let art dictate the direction of your marketing. Use science to determine major decisions and use the art for the nuances.
Is marketing a science or art? It is both art and science. Most importantly the science should lead and measure and the art should inspire and create.
That is the art and science of marketing.

2. Match the underlined words in the article with the correct explanations below:

1.Someone whose job is to prepare financial records for a company or person.

2.To realize that someone has good qualities and that they are important.

3.A very firm statement that you want something.

4.To use something that you have gradually gained or saved.

5.To persuade someone do this.

6.When something happens in the way you would expect.

7.A slight difference that may be difficult to notice but is fairly important.

8.A person who sees something.

9.To give someone the enthusiasm to do or create something.

10.A particular way of thinking about or dealing with something.

3. Choose the best explanation for words in italics from the text:

1. stimuli a) anything that encourages something to happen, develop, or improve

b) anything making you feel interested

2. similar a) things that share some qualities but are not exactly the same

b) things that are quite different and have nothing in common

3. return a) a situation in which you go back to a place or come back from a place

b) a profit on money that you have invested

4. issue a) a problem that needs to be considered

b) a magazine that is published at a particular time

5. generate a) to make money

b) to produce power

6. apply a) to affect a particular person or thing

b) to use something

7. portray a) to show or describe someone or something in a particular way

b) to show something by featuring it in a film, book, play

8. determine a) to calculate something or discover it by examining evidence

b) to officially decide something

4. Put the following sentences logically in the right order according to the text:

1.Marketing is the art of creating brands.

2.Marketing refers to figures.

3.Marketing must not underestimate both art and science.

4.Marketing affects people behaviours.

5.Marketing considers how much will be spent and received.

6.Marketing creates demand.

UNIT 2

1. Find the English equivalents of the words in bold in the text below:

NEEDS AND WANTS

The basic concept of marketing is the concept of human needs. According to it, the producer must first consider the needs and wants of his customers and then use the resources of the company to satisfy those needs and wants at a profit. So, it is impossible to speak about marketing without understanding what ‘needs and wants’ mean.

A need occurs when a person feels physiologically deprived of basic necessities. The basic economic needs of a man are food, clothes and shelter. He cannot survive without food. He may need clothes for warmth, protection and decoration. Shelter will be needed against the elements, as a home for his family, and as a place to keep his possession. These needs apply to all people. A good deal of our lives is devoted to obtaining what will satisfy those needs.

But wants are a different matter. A want is a felt need that is shaped by a person’s knowledge, culture and personality. Wants become needs as society develops and aspirations grow. Sometimes people know what they need, but do not yet know that they want a new product. As well as satisfying existing needs, marketers can also anticipate and create new ones. The producer must discover the potential demand, anticipate wants and seek to satisfy them. It has occurred with things like air travel, colour television, video, personal computers, the building, buying and equipping of new houses.

In an ever-changing world marketing strategy may therefore be used in selling people things they never knew they wanted. Effective marketing, in the form of creating an awareness of goods at convenient locations, can clearly shape a person’s wants. However, part of that strategy will be to estimate the potential market so that things people are likely to want can be produced and sold at a profit. Marketing has become a key factor in the success of businesses. Today’s companies face stiff competition and the companies which can best satisfy customer needs are those which will survive and make the largest profits.

Marketing can thus be defined as any human activity which is directed at satisfying needs and wants by creating and exchanging goods with others.

2. Define the main idea of each paragraph.

3. Decide which of the statements are True or False and show in the text where your information comes from:

1.A sense of belonging is a physical need.

2.Satisfying needs is a key to success.

3.Want does not differ from need.

4.Wants become needs with the development of the society.

5.Marketing must make people know of new goods and services.

6.Companies which do not satisfy consumers’ needs have success.

7.Companies satisfy our needs and wants at a profit.

4. Match the words with their definitions:

1.A person or organization that buys a product or a service from a shop or a producer.

2.A desire for smth. that satisfies a need (e.g. you need food but you want a bar of chocolate).

3.A company or other organization that produces goods.

4.Excess of revenues over expenses; an entrepreneur’s reward for using factors of production in economic activity.

5.Something that is essential to human life.

6.A place where people are protected from bad weather or danger.

7.The things that you wear such as shirts, dresses, trousers, etc.

8.To think that something will probably happen.

9.To give someone something in return for something that they give you.

10.Things that people do.

11.Legal possession of something, usually something big and valuable.

a) exchange b) producer c) anticipate d) ownership

e) customer f) want g) shelter h) profit

i) need j) clothes k) human activity

5. Choose the best explanation for each underlined phrase from the text:

1.to be deprived of a) not having the things that are essential for a comfortable life

b) to own something

2.decoration a) something nice that you put on to make it look more attractive

b) the activity of decorating a room

3.elements a) the weather, especially wind and rain

b) an important basic part of something complicated

4.to apply to a) to make an official request for a job

b) to use

5.aspirations a) something that you want to achieve

b) ambitions

6.to anticipate a) to think that something will probably happen

b) to be excited and enjoyed

7.ever-changing a) replacing something with a new or different thing

b) becoming constantly different

8.awareness a) knowledge or understanding of a subject, issue, or situation

b) the ability to notice things

9.to estimate a) calculate using the information available

b) giving opinion that you have about someone or something

6. Answer the questions:

1.What is the main idea of the marketing concept?

2.What is a need? When does a need occur?

3.What are the basic necessities of a person?

4.What is a want? When do wants appear?

5.What is the task of a producer?

6.What is the essence of marketing strategy?

7.What helps companies in stiff competition?

1. Read more about customer needs:

Date: 2015-01-12; view: 1290