I. Match the Russian and the English equivalents in the table below.

1.  to achieve a sustainable competitive advantage	a.  внутренняя и внешняя среда
2.   to seek insights about the firm's operating environment	b.  недостатки, которые ставят компанию в невыгодное положение по отношению к конкурентам
3. internal and external environment	c.  преобразовывать стратегию в цели и задачи
4.   distinctive capabilities, competencies, skills or assets	d.  оценивать производительность компании в определенных показателях
5.   deficiencies that place the business at a disadvantage relative to rivals	e.  добиться надежного конкурентного преимущества
6.   to prevent or hinder an entity from moving in a desired direction	f.  инструменты, которыми пользуются маркетологи
7. to translate the overall strategy into goals and objectives	g.  понять среду, в которой работает фирма
8. to measure an organization’s performance on specific dimensions	h.  комплексный план маркетинга
9. comprehensive marketing plan.	i.  особые возможности, знания, умения или активы
10. tools that marketers can leverage	j. не дать возможность или помешать организации двигаться в желаемом направлении

II. Scan the text and say what its major subject is. Use the following clichés: (for more useful phrases use App2)

To my mind............;

I suppose that.......;

I'm sorry I don't know much about it but I think...........

Strategic marketing or marketing strategy concerns the choice of policies aiming at improving the competitive position of the firm, taking account of challenges and opportunities proposed by the competitive environment. Itcan allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. Philip Kotler defines the process in the following way:"The marketing strategy lays out target markets and the value proposition that will be offered based on an analysis of the best market opportunities." (Philip Kotler & Kevin Keller, Marketing Management, Pearson, 14th Edition)

Strategic analysis is designed to address the first strategic question, "Where are we now?" Traditional market research is less useful for strategic marketing because the analyst is not seeking insights about customer attitudes and preferences. Instead, strategic analysts are seeking insights about the firm's operating environment with a view to identifying possible future scenarios, opportunities and threats.

Strategic planning typically begins with a scan of the business environment, both internal and external, this includes understanding strategic constraints. An understanding of the external operating environment, including political, economic, social and technological which includes demographic and cultural aspects, is necessary for the identification of business opportunities and threats. This analysis is called PEST; an acronym for P olitical, E conomic, S ocial and T echnological. A number of variants of the PEST analysis can be identified in literature, including: PESTLE analysis (Political, Economic, Social, Technological, Legal and Environmental); STEEPLE (adds ethics); STEEPLED (adds demographics) and STEER (adds regulatory).

In addition to the PEST analysis, firms carry out a SWOT analysis which identifies:

· Strengths: distinctive capabilities, competencies, skills or assets that provide a business or project with an advantage over potential rivals; internal factors that are favorable to achieving company objectives

· Weaknesses: internal deficiencies that place the business or project at a disadvantage relative to rivals; or internal factors that are unfavorable to achieving company objectives

· Opportunities: elements in the environment that the business or project could exploit to its advantage; external factors of the organization including: new products, new markets, new demand, competitors' mistakes, etc.

· Threats: elements in the environment that could erode the firm's market position; external factors that prevent or hinder an entity from moving in a desired direction or achieving its goals.

 

In strategic planning, it is important for managers to translate the overall strategy into goals and objectives. Goals are designed to inspire action and focus attention on specific desired outcomes. Objectives, on the other hand, are used to measure an organization’s performance on specific dimensions, thereby providing the organization with feedback on how well it is achieving its goals and strategies.

Marketing strategy and marketing mix are related elements of a comprehensive marketing plan. While marketing strategy is aligned with setting the direction of a company or product/service line, the marketing mix is majorly tactical in nature and is employed to carry out the overall marketing strategy. The 4P's of the marketing mix (Price, Product, Place and Promotion) represent the tools that marketers can leverage while defining their marketing strategy to create a marketing plan.

 

https://www.wikiwand.com/en/Marketing_strategy

Comprehension

I. Read the text. Give extensive answers to the questions. Use the following expressions to start your answer: (for more useful phrases use App2)

I assume that....

That goes without saying......

As far as I'm concerned....

1. What is strategic marketing aimed at?

2. What opportunities can a company realize with strategic marketing?

3. How does Philip Kotler define marketing strategy?

4. What is the purpose of strategic analysis?

5. What kinds of strategic analysis can marketers exploit?

6. What is the difference between PEST and SWOT analyses?

7. How do goals and objectives differ in terms of marketing strategy?

8. How do marketing strategy and marketing mix correlate?