Exercise 7. Translate into Russian in written form

Read the text once again and explain, in your own words, what stands behind the three Cs.

Exercise 6. Open the brackets.

Exercise 5. To show that you know the words from ex.4 fill them into spaces.

1. Madam Vickor caters for a very select....

2. Ford has launched a big new sales campaign in an effort to bring in new....

3. We couldn't find a... for our house, so we weren't able to move after all.

4. The firm is one of our oldest...-we don't want to lose them.

5. We may have to pass increase in the price of raw materials on the....

Key marketing decisions (to be) made within limits (to set) by the organization. The strategic management process (to involve) the steps (to take) at an organization's corporate and divisional levels (to develop) long-run master approaches for survival and growth. In contrast, the strategic marketing process (to involve) the steps (to take) at the product and market levels (to allocate) marketing resources to viable marketing positions and programs.

Focusing the Business with the three Cs business theorists (to point out) that three Cs—customers, competitors, and the company itself— (to interrelate) (to establish) the basic character of an organization's business. An organization's business (mission) (to be) a statement about the type of customer it (to wish) (to serve), the specific needs of these customers, and the means or technology by which it (to serve) these needs. This definition (to affect) the company's growth prospects by establishing guidelines for selecting opportunities in light of customer needs, competitors' actions, the organization's resources, and changes in environmental factors.

Production Life Cycle

Products, like people, have been viewed as having a life cycle. The products life cycle concept describes the stages a new product goes through in the marketplace: introduction, growth, maturity and decline.

The introduction stage of the product life cycle occurs when the product first enters the market, sales grow slowly, and profit is little.

The second stage of the product life cycle, growth, is characterized by rapid increases in sales, and it is in the stage that competitor appears.

The third stage, maturity, is characterized by a leveling off of total industry sales revenue. Also, marginal competitors begin to leave the market. Most consumers who would buy the product are either repeat purchasers of the item or have tried and abandoned it.

The decline stage is the beginning of the end and occurs when sales and profits are steadily dropping. Frequently a product enters this stage not because of any wrong strategy of the company but because of environmental changes.

Can you give any example illustrating four stages of product life?

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