Spelling & Vocabulary Enrichment ( 36 )

36- ] Spelling & Vocabulary Enrichment .

Business In Use .

Buyers , sellers and the market .

A-]Customers and clients :

- A company which its product is car components , the customer base is car companies .

- A company which its services are package holidays , the customer base is general public .

-A company which its professional services are concerned with architecture , its client base or

clientele is companies , government organizations and the public .

- A company which its products are cheap computers , its customer base is general public .

- People who buy ‘everyday’ services such as train travel or telephone services are called

‘customers’ .You can also talk about the ‘users’ or ‘end-users’ of a product or service , who

may not be the people who actually buy it . For example , when a company buys computers for its staff to use , the staff are the end-users .

B-] Buyers and sellers :

- A person or organization that buys things is a ‘buyer’ or ‘purchaser’. These words aalso describe someone in a company who is responsible for buying goods that the company uses or sells . These people ae also ‘buying managers’ or ‘purchasing managers’ .

- A person or organization that sells something is a ‘seller’ . In some contexts , for example  selling property , they are referred to as the ‘vendor’ . People selling things in the street are ‘street vendors .

C-] The market :

- ‘The market’ ,’the free market’ and ‘market economy’ describes an economic system where prices , jobs and wages , etc. are not controlled by the government , but depend on what people want to buy and how much they are willing to pay .

D-] Word combinations with ‘market’ :

- ‘market forces /pressures’ : the way a market economy makes sellers produce what people want , at prices they are willing to pay .

- ‘marketplace’ :producers and buyers in a particular market economy and the way they behave .

- ‘market prices’ : prices that people are willing to pay , rather than ones fixed by

a government .

- ‘market reforms’ : changes a government makes to an economy , so that it becomes more like a market economy .

Markets And Competitors .

A-] Companies and markets :

-You can talk about the people or organizations who buy particular goods or services as the ‘market’ for them , as in the ‘car market’ , ‘the market for financial services’ , etc. Buyers and sellers of particular goods or services in a place ,or those that might buy them , form a ‘market’ .

If a company :

enters penetrates		it starts selling there for the first time .
abandons gets out of leaves		it stops selling there .
dominates	market	it is the most important company selling there .
corners monopolizes		it is the only company selling there .
drives another company out of		it makes the other company leave the market ,  perhaps because it can no longer compete .

B-] More word combinations with market :

1-] ‘Market growth : In the late 1990s , Internet use was doubling every 100 days . ‘Market growth’ was incredible .

2-]’Market segment’ : Women are a particularly interesting target for the Volvo V70 . They are an important ‘market segment’ for Volvo.

3-] ‘Market segmentation’ :The software company divides the software market into large companies , small companies ,home office users ,and leisure users . This is its ‘market segmentation’.

4-] ‘Market share’ : Among the country’s supermarkets , this supermarket sells more than

other chains .It has the highest ‘market share’ .

5-] ‘Market leader’ : This supermarket is the ‘market leader’ among the country’s supermarkets as it sells more than any of the other chains .

C-]Competitors and competition :

- Companies or products in the same market are ‘competitors’ or ‘rivals’ . Competitors compete with each other to sell more , be more successful ,etc.

- The most important companies in a particular market are often referred to as ‘key players’.

- ‘Competition’ describes the activity of trying to sell more and be more successful . When competition is strong , you can say that it is ‘intense’ , ‘stiff’ , ‘fierce’ or ‘tough’ . If not , may be  described as ‘low-key’ .

- ‘The competition’ refers to all the products , businesses , etc. competing in a particular situation , seen as a group .

Marketing And Market Orientation .

A-] Marketing :

- It is the process of planning , designing , pricing , promoting and distributing ideas , goods and services in order to satisfy ‘customer needs’ , so as to make a profit .

- Companies point out how the special characteristics or ‘features’ of their products and services possess particular ‘benefits’ that the needs of the people who buy them.

- ‘Non-profit organizations’ have other social goals such as persuading people not to smoke or to give money to people in poor countries , but these organizations also use the techniques of marketing . 

- In some places even organizations such as government departments are starting to talk

about or at least think about their activities in terms of the ‘marketing concept’ .

B-]The four Ps:

They are 1-] Product : deciding what to sell . 2-] Price : deciding what prices to charge .

 3-]Place : deciding how it will be distributed and where people will buy it . 4-] Promotion : deciding how the product will be supported with advertising , special activities etc.

- A fifth ‘P’ which is sometimes added is ‘packaging’ : all 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 .

- ‘To market’ a product is to make a plan based on this combination and put it into action .

‘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.

C-] Market orientation :

Marketers often talk about ‘market orientation’ : the fact that everything they do is designed to meet needs of the market . They may describe themselves as ‘market-driven’ , ‘market-led’ or ‘market-oriented’ .