Vocabulary exercises

I. Translate the following words and word combinations:

support, consume, acquisition, reduction, evolve, less-developed societies, felt deprivation; affection; individual personality; fuel economy; add up; substitute; to accept or reject an offer; to leave sth. better off; to create value; to bring about a response; to bargain for good terms, search for buyers, identify needs, a barter transaction, unit of measurement, interact, a merchant, bundles of benefits, to obtain a desired object, consumption possibilities, self-expression, to reduce the needs, want-satisfying products, to develop objects.

II. Find English equivalents to the words given below:

Складний, безбека, причетність, зростати, створювати предмети, збуджувати інтерес, підкріпляти, купівельна спроможність, розглядати сукупність вигод (благ), розважальні програми, співпрвцювати, підтримувати ідеї, підходити, отримувати бажаний предмет, укласти угоду, взаємодіяти, виникати, обмін, задовольняти потреби, взаємодіяти, розробка продукції, людська натура, бартерна угода, передові суспільства.

III. Answer the following questions:

1. What are the core marketing concepts?

2. What kinds of need do human beings have? Are they invented?

3. Give the definition of the second basic concept in marketing.

4. Are human wants the same in different countries? Why or why not?

5. Why do people want to choose products that provide the most satis­faction for their money?

6. How do consumers view products? Give examples.

7. What is a product?

8. Is the concept of a product limited to physical objects? Give your reasons.

9. What are the conditions necessary for an exchange to take place?

10. What is marketing's unit of measurement?

11. What is the dif­ference between monetary and barter transactions?

12. What do you know about the concept of a market? Is it necessarily a physical location where buyers and sellers interact?

13. What are the core marketing activities?

IV. Match each term with its definition in the right-hand columns:

Need Exchange Want Demand Transaction

a) the trade of things of value between buyer and seller so that each is better off after the trade. b) that which occurs when a person feels deprived of food, clothing, or shelter; the basic force that motivate a person to do something c) Human wants that are backed by buying power. d) a trade between two parties that involves at least two things of value, agreed-upon conditions, a time of agreement, and a place of agreement. e) a need that is shaped by a person's knowledge, culture and individual characteristics.

попит потреба обмін знадоба угода, (ділова операція)

V. Fill in the blanks:

1. A product is anything that can be offered to a market for_____,_____, _______ and might satisfy a need or want.

2. People want to choose ________ that provide the most satisfaction for their money. When backed by buying power, wants become ____________.

3. The concept of product is not limited to physi­cal objects. Anything capable of satisfying a need can be called a product. In addition to goods and services, products include ______, _______, _______, ________, and ideas.

4. Exchange is the act of obtaining a desired object from someone by ________ _________ in return. Exchange is also the ____ ____ of marketing.

5. A human need is a state of felt ______. Human beings have many complex needs. They include basic ______ ____ for food, clothing, warmth, and safety; social needs for belonging and af­fection; and individual needs for knowledge and ____-_____.

6. People in industrial societies may try to find or develop objects that will sat­isfy their _______. People in less-developed societies may try to ______ their desires and satisfy them with what is available.

7. People have almost unlimited ____ and limited resources. Thus, they want to choose products that provide the most satisfaction for their ____. When backed by buying power, wants become ______.

8. Whereas exchange is the core concept of marketing, a transaction is marketing's unit of ________. A ______ consists of a trade of values between two parties. In a transaction, we must be able to say that A gives X to В and gets У in ______.

9. In a barter transaction, you might trade your old refrigerator in ______ ____ a neighbor's secondhand television set. A barter transaction can also involve services as well as _________.