Key aspects Read the following text. Think and talk about how you feel about advertising and marketing. Is it a necessary evil, an interesting part of our economy, an opportunity for marketing professionals to demonstrate their creative potential and break new boundaries, or a problematic system of making people buy things they don’t need? Study the translations of the words and phrases you don’t know. 5.1 1.What is marketing? The popular website Investopedia.com defines marketing as “activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses. […] Professionals who work in a corporation’s marketing and promotion departments seek to get the attention of key potential audiences through advertising. Promotions are targeted to certain audiences and may involve celebrity endorsements, catchy phrases or slogans, memorable packaging or graphic designs and overall media exposure.” 2.What are the 4 P’s of marketing? Or are there more than four? The concept of the four P’s – also known as the “marketing mix” – is not the only marketing model, but it certainly is one of the most durable and influential ones. The four P’s are: Product – Companies sell goods and services, and marketing professionals normally start developing a marketing strategy by thinking about what the product is and does. What are its benefits and features? What is its USP (unique selling proposition)? What needs does it satisfy? What problems does it solve? Marketing expert Amanda Gaid points out that the “best way to explore these questions is through good old-fashioned market research, which can be done through methods like online research, firsthand interviews and analysis, and surveys.” “Marketing is no longer about the stuff that you make, but about the stories you tell.” Seth Godin, American author and entrepreneur 44 5 Topic Marketing & advertising Nur zu Prüfzwecken – Eig ntum des Verlags öbv
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