V. Read the text again. Agree or disagree with the following statements.
IV. Answer the questions on the text.
III. Find English equivalents to the following Russian words and word-combinations.
Marketing Management
II. Read and translate the text.
Management is a function of planning, organizing, coordinating, directing and controlling. Any managerial system, at any managerial level, is characterized in terms of these general functions.
Management is a variety of specific activities. Marketing management refers to a broad concept covering organization of production and sales of products, which is based on consumer requirements research. All companies try to look beyond their present situation and develop a long-term strategy to meet changing conditions in their industry. Marketing management, therefore, consists of evaluatingmarket opportunities,selecting markets, developing market strategies, planning marketing tactics and controlling marketing results.
Strategic planning includes defining the company’s long-term objectives as well as specific objectives, such as sales volume, market share, profitability and innovation, and deciding on financial, material and other resources necessary to achieve those objectives.
In problems of market selection and product planning, one of the keyconcepts is that of the Product Life Cycle. That products pass through various stages between life and death (introduction – growth – maturity – decline) is hard to deny. Equally accepted is the understanding that a company should have a mix of products with representation in each of these stages. Companies can make far more effective marketing decisions if they take timeto find out where each of their products stands in life circle.
However, the concept of the product life circle seems frequently forgotten in marketing planning, which leads to wrong decision-making.
Управление маркетингом, управленческая система, производство и сбыт товаров, развитие рыночных стратегий, планирование маркетинговых тактик, объем продаж, прибыльность, жизненный цикл продукта, эффективные решения.
- What is any managerial system characterized by?
- What is marketing management?
- Why do all companies need to develop a long-term strategy?
- What are the aspects of strategic planning?
- Why the Product Life Circle is considered one of the key concepts in marketing?
- Do the managers always take into consideration the concept of the product life circle?
1. Any managerial system is characterized only by directing and controlling.
2. Management is a variety of usual activities.
3. Marketing management is mainly buying products.
4. Some companies try to develop a long-term strategy to meet changing conditions in their industry.
5. Marketing management consists of developing market strategies and planning marketing tactics.
VI. Complete the sentences with the information from the text.
- Marketing management refers to …
- All the companies try to look beyond their present situation and …
- Marketing management, therefore, consists of …
- Strategic planning includes …
- That products pass through various stages …
- Companies can make far more effective decisions …