Passage Two
Just about everyone knows the meaning of`value" though you'd never know it from the excesses of the Eighties. Clevercampaigns often allowed marketers to charge more for their product and reapever-higher profits. It worked like a dream until suddenly, facing difficulteconomic times, consumers work up. Now, to the extent that they're buying, manyconsumers are choosing the car that delivers the most for the money--notnecessarily the one they coveted as a status symbol a few years ago, they areshifting to the toothpaste that worksfrom the ones with it slickest promotions. Companies that understand this newconsumer have come up wit something new: "value marketing".
A word of caution is necessary. In marketing, watchwords quicklymetamorphos into buzzwords--and value is no exception. We're not taping about adsthat merely boast of a product's value or even such legitimate sates tools as pricecuts and discount: Used correctly, value marketing amounts to much more than juststashing prices distributing coupons. Itmeans giving the customer an improved product, with adds, features andenhancing the role of marketing itself:
In value marketing, marketing becomes part of the system for deliveringvalue t( the consumer. Instead of merely shaping image, such a program might offerenhance guarantees or longer warranties, ads that educate rather than hype,membership club: that build loyalty, frequent-buyer plans, improvedcommunications with customer. through 800 numbers, or package design that makesthe product easier to use or more environmentally friendly.
These and other value-marketing techniques can be expensive. Theycan tncar added production and marketing costs added to lower unit prices, Evenso, the principle involved in value marketing value for money, an improved product,enhanced =Nice, and added features--are just %fiat U_S_ business needs toenhance its competitiveness in the global marketplace. That's why it will beall to the good if the commonsensical virtues of value marketing become part ofthe permanent strategy of U.S.business.
76. Consumers have waken up because of
A) the poor products they bought B) the high price they paid for what theybought
C) the difficult economic times D) a horrible dream
77. Many consumers are choosing thecommodities
A) that are precious B) that are warranted
C) that can show their status D)that deliver the most for the money
78. In the 1980s, people would like to goafter the products
A) that were most expensive B)that were up-to-date
C) that could show their status D)that were in fashion
79. Communications with customers malj beimproved
A)through annual customers congress B) through ton free 800 numbers
C)throughmembership clubs D) through frequent education
80. A value marketing program may notinclude
A)daily visits to customers B)longer warranties
C)membership clubs D)environmentallyfriendly packages
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