Marketing Methods

Before selling the products, you must do lot of market research first. The information needed can be obtained from trade associations and trade journals or from specialized consultant companies.

The information you are interested in is if there is any demand for your product, what the market potential is, what sort of competition you will meet, i.e. how the price of your product compares with other competitive products, local conditions and preference, local trading customs and habits, what seasonal factors should be taken into account and the like. So marketing is a system of running all the business activities of a company in respect of coordinating supply and demand for the service produced.

Advertising is an important means of promoting the goods that are being produced already as well as new lines in business. There are specialized firms dealing with advertising. Different kinds of mass media - TV, radio, newspapers, cinema, journals, magazines, and posters - are used for advertising tours. Special leaflets, booklets and other printed matter about the travels may be published for the same purpose. Participation in fairs and exhibitions helps promote our product as well. Also, special advertising conferences may be held. The choice of media for advertising depends on the kind of goods and on the local conditions and people's habits: sometimes TV and radio ads are best, in other cases it may be trade journals or leaflets distributed among potential buyers.

Questions:

1. What does market research mean?
2. What fields of business activities does marketing cover?
3. What is the purpose of advertising?
4. What does the choice of media for advertising depend on?
5. What methods of advertising are the best?
6. Summarize the text.