InternationalUniversityCollege,Sofia CardiffMetropolitanUniversityProgramme Programme:Int’lBusinessManagement,Business&ManagementStudieswithFinance,Int’lHospitalityManagement Module:LAN101EnglishforBusiness&Management/EnglishforAcademicPurposes Lecturers:BonnieNikolova ASSIGNMENT1: ReadtheexcerptbelowtakenfromoneofthetextbooksinMarketingavailableatIUCLibrary. Inyourownwords,whatismarketing,whatdoesmarketingmeantoyou?Howdoesitaffectyourdailylife? Trytoemploythetechniquesforsummarisingandparaphrasingwehavecoveredinclass.Youcangiveexamples relevanttoyourownexperienceandlikings. Handinyourassignment(inpapercopy,typed)withinthespecifiedduedate. WhatisMarketing? Marketing,morethananyotherbusinessfunction,dealswithcustomers.Althoughwewillsoonexplore more detailed definitions,perhaps the simplest definition is this one: Marketingismanaging profitable customerrelationships.Thetwofoldgoalofmarketingistoattractnewcustomersbypromisingsuperior valueandtokeepandgrowcurrentcustomersbydeliveringsatisfaction, Forexample,McDonald’sfulfillsits“I’mlovin’it”mottobybeing“ourcustomers’favouriteplace andwaytoeat”theworldover,givingitamarketsharegreaterthanthatofitsnearestthreecompetitors combined. Walmart has become the world’s largest retailer – and the world’s largest company – by deliveringonitspromise,“SaveMoney,LiveBetter.” Soundmarketingiscriticalto thesuccessofeveryorganization.Largefor‐profitfirms,suchas Google, Target, Procter & Gamble, Toyota, and Microsoft, use marketing. But so do not‐for‐profit organizations,suchascolleges,hospitals,museums,symphonyorchestras,andevenchurches. You already know a lot about marketing – it’s all around you. Marketing comes to you in the goodoldtraditionalforms:Youseeitintheabundanceofproductsatyournearbyshoppingmallandthe ads that fill your TV screen, price up your magazines, or stuff your mailbox. But in recent years, marketershaveassembledahostofnewmarketingapproaches,everythingfromimaginativeWebsites and online social networks to cell phone apps. These new approaches do more than just blast out messagestothemasses.Theyreachyoudirectlyandpersonally.Today’smarketerswanttobecomepart ofyourlifeandenrichyourexperienceswiththeirbrands–tohelpyoulivetheirbrands. At home, at school, where you work, and where you play, you see marketing in almost everythingyoudo.Yet,thereismuchmoretomarketingthanmeetstheconsumer’scasualeye.Behindit allisamassivenetworkofpeopleandactivitiescompetingforyourattentionandpurchases.Thisbook will give you a complete introduction to the basic concepts and practices of today’s marketing. In this chapterwebeginbydefiningmarketingandthemarketingprocess. 12 |Page