Marketing, competition and the customer
| English | Chinese | Pinyin |
|---|---|---|
| marketing | 营销 | yíng xiāo |
| customer needs | 客户需求 | kè hù xū qiú |
| demand | 需求 | xū qiú |
| market share | 市场份额 | shì chǎng fèn é |
| market-oriented | 市场导向 | shì chǎng dǎo xiàng |
| product-oriented | 产品导向 | chǎn pǐn dǎo xiàng |
| mass market | 大众市场 | dà zhòng shì chǎng |
| niche market | 利基市场 | lì jī shì chǎng |
More than advertising
- Marketing 营销 isn't just adverts — it's finding out what customers want and making sure the business provides it.
- Get it right and customers come to you.
Marketing mix lab
See which part of the marketing mix changes in each real decision.
Marketing is best described as:
Marketing meets customer needs at a profit.
What marketing does
- Marketing identifies and satisfies customer needs 客户需求 profitably.
- Its goals: understand customers, build demand 需求, and grow market share 市场份额.
Segmentation splits a market into groups of similar buyers
A market-oriented business starts by:
Market orientation puts customer needs first.
A business that designs a product first, then looks for buyers, is ______-oriented.
Product orientation is riskier than market orientation.
Market vs product orientation
- Market-oriented 市场导向: start from what customers want, then make it. Lower risk.
- Product-oriented 产品导向: start from the product, then find buyers. Higher risk.
A branded shop window: branding helps a product stand out
A firm sells 20m in a market worth 80m. What is its market share (%)?
20 / 80 × 100 = 25%.
A niche market is a small, specific segment of a larger market.
Niches face less competition than mass markets.
Niche vs mass markets 大众市场
- Mass market: a large, broad market (everyday products) — high sales, much competition.
- Niche market 利基市场: a small, specific segment — less competition, often higher prices.
Worked example. Market share = a firm's sales ÷ total market sales × 100. A firm selling 30m in a 150m market has a 20% market share — a key sign of marketing success.
You've got it
- marketing identifies and satisfies customer needs profitably
- market-oriented (customer-first) is lower-risk than product-oriented
- mass markets are large & competitive; niche markets are small & specific