Collocations Market
To build up market, to swamp a market, to corner market, to saturate market, to enter market, market sector, market segment, market leader, market price, market share, market niche, market position, market research, market potential, black market.
To build up market share – выкроить долю на рынке
Sales
Annual sales, overseas sales, retail sales, wholesale, to raise, to boost, sales forecast, sales figures, sales revenue.
Break-even sales level – точка безубыточности
Net sales – чистый объем продаж
Management
Management crisis, personnel management, pr, marketing etc, management strategy, management contract
Marketing
Viral marketing, b2b marketing, mix marketing, strategy marketing, marketing department, marketing decisions
Trade
Fair trade rules – правила конкуренции
Trade debt – долг
Soul trade – монопольная продажа
Advertising
Tie up – широкая реклама
Advertising: agency, campaign, budget, hoarding. Sales advertising, limited advertising
- Channels of promotion
TV commercials, outdoor advertising (build boards, street hording), sales literature (brochure, leaflets, post, handouts), radio sports (commercial), auto advertising, free samples – sales pitch (торговоепредложение), product placement, internet cyber buzz, trade fears and exhibitions, sponsorship, special events, public relations, charity, word of mouth, word of web, flash mobs, free telephone calls, personal sales
- Ways to break overseas markets
1. Indirect export. Exporters use an intermediary such as an expert agent o deal with buyers in the overseas market (to know the needs of local market, to know how it works, to see the risks)
- Direct export. Manufactures themselves handle their own export, set up their own offices. It works if you have government lobby, if you know the needs of locals. Risky!
- Licensing. Companies sell the rights to use a manufacture process. Trade mark for a fee or royalty (franchising)
- Joined ventures (совместные предприятия). The companies overseas work together to develop a particular market
- Direct investment. The company buys a local firm. Takeover. Acquisition
- Franchise
Types of franchise:
- Business format (trademark, name, franchiser). Everything is familiar. McDonalds, Baskin Robbins
- Product – you control the distribution (channels)
- Manufacture, production is opened starting up a production. Franchise agreements
| franchisers | franchises | |
| Advantages |
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| Drawbacks | - Royalty is high - Lost reputation-lost forever Strong dependents of each other, strong risks (natural, political, economical) | |
5. USP and AIDA
1. Marketing mix (4 Ps)
Providing the customer with the right product at the right place, presented in the most attractive way (promotion) and available in the easiest way (price)
2. Product is not just an assembled set of components: it is something customers buy to satisfy a need they feel they have. The image and the design of the product are as important as its specification.
3. Price
The product must be priced so that it competes effectively with rival products in the same market.
4. Promotion
The product is presented to customers through advertising (e.g. TV, commercials, radio spots, newspaper advertisements, posters), packaging (e.g. design, labels, materials), publicity, PR and personal selling.
5. Place
Your product must be available to customers through the most cost-effective channels of distribution. A consumer product must be offered to end-users in suitable retail outlets, or available on hire purchase or by mail order.
6. S.W.O.T.
A firm must be aware of its strengths and weakness and the opportunities and threats it faces in the market place.
AIDA
Promoting a product involves developing a «Unique Selling Proposition» (USP): the features and benefits which make it unlike any of the competing products. There are 4 stages in promoting a product:
- Attract the attention of potential customers
- Arose interest in the product
- Create a desire for its benefits
- Encourage customers to take prompt action
6. Government restrictions and regulations
Embargo - an official ban on trade or other commercial activity with a particular country
Tariff - a tax or duty to be paid on a particular class of imports or exports
Quota - a limited or fixed number or amount of people or things, in particular:
- a limited quantity of a particular product which under official controls can be produced, exported, or imported: the country may be exceeding its OPEC quota of 1,100,000 barrels of oil per day
- a fixed share of something that a person or group is entitled to receive or is bound to contribute: they were arrested to help fill the quota of arrests the security police had to make during the crackdown
- a fixed minimum or maximum number of a particular group of people allowed to do something, e.g. immigrants to enter a country, workers to undertake a job, or students to enroll for a course: the removal of entry quotas encouraged young people to enter universities
- (in a system of proportional representation) the minimum number of votes required to elect a candidate.
- (also diocesan quota)(in the Anglican Church) the proportion of the funds of a parish contributed to the finances of the diocese.