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10. In the text find definitions of:

  • utility;

  • place utility;

  • time utility;

  • possession utility;

  • form utility;

  • sales orientation;

  • production orientation;

  • customer orientation;

  • marketing concept

11. Answer the questions.

1. How can a firm make its business successful?

2. What was the direction of business until the early twentieth century? Why?

3. What was the role of marketing in the early 20th?

4. What happened in the 1920s?

5. When did marketers realize that the best approach is customer orientation?

6. What is utility?

7. What are the types of utility and how are they created?

8. What kinds of utility refer to marketing?

9. How can a firm implement the marketing concept?

10. What kinds of information must a firm get at different stages of marketing concept implementation?

12. Agree or disagree. Correct wrong statements.

1. To have a success the firm must first of all seek ways to provide customer satisfaction.

2. There are 4 kinds of ability of a good to satisfy a human need.

3. Market research indicates what customers want.

4. Warranty is the most fundamental application of marketing activities.

5. In the early 20th century business had a strong sales orientation which later changed into a customer one.

6. In 1950 neither enormous advertising expenditures nor the most proven sales techniques could help business and marketers realized that the best approach is a customer orientation.

7. To implement marketing concept means to know how to improve products.

8. The firm must promote the product so that the consumers will be aware of it.

9. The firm must ensure that the product is distributed in all regions of the world.

10. Besides the firm must obtain marketing information about the effectiveness of its efforts.

13. Complete the sentences:

1. The process of the marketing concept, or marketing orientation, is to seek ways to provide ... .

2. ...is one of the main principles of the marketing concept.

3. Utility is the ... of a good or service to satisfy a human need.

4. Form utility is created by converting ... ... into finished products.

5. Place utility is created by making a product available at a ... where customers want to purchase it.

6. Time utility is created by making a product available when customers ... to purchase it.

7. Possession utility is created by transferring ownership of a product to the ... .

8. Until the early twentieth century, business was directed mainly toward the production of... .

9. Consumer demand for manufactured products was so great that manufacturers could almost ... everything they produced.

10. Marketing was limited to taking ... and distributing finished ... .

11. In the 1920th production began to ... with demand.

12. This new sales orientation was characterized by increased ... .

13. During 1950th, however, business people started to realize that even advertising expenditures and ... were not enough.

14. At that time business managers recognized that they were not producers or sellers but rather were in the business of satisfying customers'... .

15. Marketers realized that the organization had to first determine what customers ... and then develop ... and services to fill those particular needs.

16. All functional areas are viewed as playing a role in providing customer... .

17. The firm must always obtain marketing ... .