Marketing and Innovation

Activity.

Marketing is in many ways the central activity in business management. In commercial organizations, marketing is everybody's business.

A.Complete the definitions of marketing.

1. Selling things that don't come back to people who do.

2. Everything a company does to influence demand for it products and services.

3. Promoting and selling good and services.

B.The four P's of marketing are now the seven P's, bacause of the increasing importance of services and customer service.Fill in the spaces below to match the seven P's to the best definition.

1. The good and services a company provides. Product

2. Decisions about what customers pay for the product. Price

3. Things concerned with location and its products. Place

4. Ways to make the company nd its product well known and ways to sell products. Promotion

5. Everyone involved with the company and it products, especially the customers. People

6. All the ways in which the company and its customers interact. Process

7. Anything that shows or mentions the name and image of the company and its products. Physical Evidence

C. Innovation.

There are typically five stages of innovation. First there is invention, which means thinking of a new product or new idea. During this period, the inventor should patent the idea. Then the second phase is development, where the idea is adapted to the needs of a specific market. Then comes the diffusion stage, where the idea is sold and used by consumers.

Next the company fully accepts the innovation and it becomes a full part of the business's product range. This place is called integration. The final phase is called decline. Perhaps technology moves on or consumer demand changes and the idea or product is no longer needed.

Reflection.

For marketing is very necessary think in many aspects like:people, opportunities, costs and ideas.

Source.

Sweeney,Simon.(2002)Professional English:Management.Penguin English Guides.Page.8,9,47.