Vocabulary. 2. Fill in the correct word from the list below.

Pricing, to boost, available, to offer, target, to satisfy, marketing, to meet

1. …………………….. market

2. …………………….. goals

3. …………………….. strategy

4. …………………….. needs

5. …………………….. products

6. …………………….. objectives

7. …………………….. rebates

8. …………………….. sales

3. Complete the sentences with the missing parts:

research of potential market; a buyer and a seller; getting the product to; selling their goods or services for average prices; the success or failure; channel of distribution; to develop a successful marketing operation; establish these prices; element of marketing

Four main elements that are popularly known as the four P's: product, price, placement, promotion play a vital role in ……… of the marketing operation.

The product ………. refers to the goods or services that a company wants to sell. This often involves research and development (R & D) of a new product, …………., testing of the product to ensure the quality, and then introduction to the market.

There are three pricing options the company may take: above, with or below the prices that its competitors are charging. Most companies price with the market, …………. established by major producers in the industry. The producers who ………… are known as price leaders.

The third element of the marketing process – placement – involves ……….. the customer. This takes place through the channels of distribution. A common ………… is: manufacturer - wholesaler - retailer - customer.

The communication between ……… is known as promotion.

The four elements of marketing - product, price, placement and promotion, work together ………. that satisfies customers and achieves the company's objectives.

4. Choose the correct item.