Практический курс английского языка = Practical Course of English for Students of Economics. Учебное пособие для студентов экономических специальносте

2. This advertisement seems to issue a challenge. A B C D

3. This advertisement mentions the possibility of promotion. A B C D

4. This advertisement promises a special benefit to the successful applicant.

A B C D

5. This advertisement adopts an informal, almost chatty style. A B C D

9. Fill in the blanks with the correct preposition.

Advertisers believe the consumers will look … and remember messages conveyed … unexpected ways. They are using traditional media

…new ways. Some billboards now sport elaborate lights and music. One … a Southern California hospital featured a huge, inflatable heart

…fans inside simulating beating motions. … TV, both General Electric and Shearson Lehman Hutton have experimented … different sounds – buzzes, hums, and weird music – to catch the public’s ear. Magazines feature gatefolds (foldout ads attached … front or back covers), pop-ups, and even computer chips that play Christmas carols. Newspapers offer ads … red ink … a strawberry scent; other scents, such as coffee, are being developed.

Then there are alternative media, everything … matchbook covers … blimps. Use … nontraditional media represents a tiny share … the advertising dollar but is growing fast. Human billboards – people wearing huge popcorn bags – hand out samples … Smartfood cheese popcorn … Chicago.

…supermarkets and drugstores, shoppers are bombarded … electric signs, closed-circuit radios playing commercials … aisles, and video recorders showing how to use products. Video screens mounted … shopping carts play ads as customers may their way through stores. “Everywhere there’s space, they’re slapping something on it”.

10.* Read the passage carefully. Some of the lines are correct and some have a word which should not be there. Find these words and cross them out.

Trade shows and exhibits provide for excellent opportunities for a marketer to promote his products or services through the display and demonstration. Customers are be able to examine the product in its natural setting and make comparison with to competing products. Exhibitors can to enlarge their dealer contacts and distribute literature and samples. Trade shows are very particularly useful in promoting new products or an innovations or services. At a recent convention of the National Association of Broadcasters in Chicago more than of 400 exhibitors crowded four large the hotel exhibition halls for the purpose of exhibiting and

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demonstrating the many of new developments in broadcasting. Radio and TV executives from the all over the United States come to this every annual convention.

11.* Paraphrase the following sentences.

1.The primary benefit of posters is that they stay in one location for only 30 days. 2. Radio audience is an impressive one and radio indisputably provides the advertisers with the opportunity to appeal to very narrow audience. 3. Advertisers are constantly searching for ways to hold down costs, and today virtually all network prime-time commercials are

30seconds long. 4. An advertiser can use any of several types of advertising, depending on its promotional objectives. 5. Agencies are normally compensated in three ways – commissions, percentage charged on materials and services purchased for clients, and fees. 6. In Western industrial nations the most pervasive media are TV and radio. 7. For an advertisement to be effective its production and placement must be based on knowledge of the public and a skilled use of media. 8. The phenomenal growth of advertising during the 19th century and a half is irrefutable.

9.Companies are increasing their expenditures for consumer promotion, which now accounts for more than a forth of promotional budgets.

10.An effective way to encourage consumers to get familiar with a product is to provide them with a free sample of the merchandise. 11. Advertising helps open new territories, tapping potential markets. 12. Firms go to considerable efforts and expense to design, create, and evaluate advertisements that will accomplish their promotional goals.

12.Put the verbs in brackets into the correct tense form.

Guinness drinkers may believe that good thing come to those who (to wait), but it (to seem) the behind the world’s best-loved beer less (to be convinced). After a four-year campaign trying to persuade publicans and drinkers alike that Guinness (to be) a superior drink and should not be poured like a common lager or ale, the company (to decide) to change tack again. Owner Guinness UDV (to ditch) the long-running advertising campaign that (to seek) to persuade drinkers their pint (to be worth) the wait as it (to face up) to an increasingly crowded drinks market. The company (to brief) its two advertising agencies to co up with a new ad for the brand that (to be shown) across the world. AMV is the agency behind the current campaign which (to include) the highly acclaimed Guinness “Surfer” film (to vote) best ad of all time by Channel 4 viewers. It (to be) the first time Guinness, which (to spend) more than 200 million pounds on advertising (to run) a global advertising campaign – the company (to use) traditionally different agencies around the world to create countryspecific campaigns. But last year Guinness (to cut) its roster of interna-

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tional advertising agencies down to just two and the planned campaign (to be) a further signal that Guinness UDV (to try) to develop a more consistent global image for the brand. Although the brand (to continue) to enjoy healthy sales across the world, its growth in Europe (to stall) as bar-goers (to eschew) beer in favour of wines and pre-mixed drinks.

13. Rewrite the following sentences in the passive.

1. Cooperative advertising occurs when producers and retailers share the expense of advertising. 2. Advertising directed at business buyers they classify as trade, industrial, farm, or professional advertising. 3. Broadcast, print, direct mail, and outdoor advertising are the major media advertisers use. 4. Typical advertising timing schemes include steady, seasonal, periodic, start-up, and promotional patterns. 5. Many companies that use the services of agencies, however, also maintain their own advertising departments. 6. Reviewing the benefits of advertising shows that it reduces distribution costs, contributes to economies of scale by creating mass markets and provides product information. 7. Advertising also reduces the cost of newspapers and magazines and pays for much of our television and radio entertainment. 8. Firms also rely on promotional activities to reduce or eliminate substantial variations in demand throughout the year. 9. Often a firm uses promotion to position a product as different or superior to competing products. 10. Publicity and, to a lesser extent, advertising provide effective vehicles for image building.

14. Fill in the gaps with the correct modal verb.

1. It is quite possible that one person … hold remarkably different views about advertising at the same time; for instance, one individual … simultaneously hold different beliefs. 2. Advertising … be more stringently regulated by the government. 3. Commercial advertising … be directed at ultimate consumers or business buyers. 4. Advertising is many things and it … have a variety of meanings to the same person at a given point of time. 5. Intuitively, we … suspect that advertising is most likely to exist and prosper in those societies that have moved beyond a subsistence existence. 6. In addition we … suspect that advertising would be more important as specialization develops in manufacturing and as manufacturers become more remote from the consumer. 7. The larger the manufacturer, the less likely is he to be in regular contact with his potential customers and the more he … depend on advertising. 8. Advertising developed in importance as manufacturers began to make more than … be consumed in their immediate neighborhood. 9. Promotional messages … inform consumers about organizations and products and influence them to make a purchase or adopt a special cause or belief. 10. Promotional programs … be built around a single objective or multiple objectives. 11. A promotional mix … contain any of all of the four

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elements, depending on the firm’s objectives. 12. It is important to keep in mind that the elements in the promotion mix … be coordinated and linked together. 13. When consumers enter into a service transaction, they …, as a general rule, interact with service firm employees. 14. The role of an advertising agency … vary from a simple supplier to a genuine business partner.

15. Fill in the gaps with the correct article if necessary.

Gillette Company believes that people are similar … world over. Backing up its conviction, … firm more than once has used … single campaign to advertise … shaving product worldwide. For example, to launch … twin-bladed Sensor razor in 1990, … company spent $110 million on television and print advertising in … North America and … Europe. Gillette introduced … Sensor product to … US men with sporty commercials during … Super Bowl. … next month, … company started running nearly identical commercials in 18 countries. All … commercials used diagrams of … Sensor blades efficiently cutting whiskers and featured manly, if not macho, spokesmen. … only elements of … campaign that changed from … country to … country were language and specific sports images. Gillette translated … commercial into 26 languages. … French theme line, for example, became “La perfection au masculin”, or “Perfection, male style”. That translation overcame … problem of “Perfection” as … feminine noun in French. As for sports imagery, … European commercials replaced … US football scenes with shots of soccer action.

16. Put the verbs in brackets into the correct infinitive form or -ing form.

Coca-Cola and Its Advertising

John S. Pemberton invented Coca-Cola in 1886. His partner suggested (to make) an advertisement for the drink that very year. In 1888, Asa Candler bought the Coca-Cola business and decided (to build) the product known through signs, calendars and clocks. The company began (to run) its global network in 1923. The company succeeded in (to transform) Coca-Cola into a truly international product by (to set up) a foreign department.

Coca-Cola’s advertising has always attempted (to reflect) changing contemporary lifestyles. (To create) an international advertising campaign requires the talents of professionals in many areas and expensive research and testing are always done before (to decide) which advertisement will finally be used.

After (to return) Diet Coke in 1982, the company saw its sales grow quickly. The drink is now the third most popular in the world. In 1985, the company tried (to change) the secret formula of Coca-Cola, but realized that Americans were very attached to the original recipe. The com-

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pany listened to its consumers and quickly responded by (to launch) the original formula to the market as “Coca-Cola Classic”. Today people in more than 160 countries around the globe enjoy (to drink) Coca-Cola. The company intends (to expand) its global presence even further in the twenty-first century, particularly in developing markets.

17.* Render the following passage in Russian (10–12 sentences) focusing on key vocabulary.

Lots of people pretend that they never read advertisements, but this claim may be seriously doubted. It is hardly possible not to read advertisements these days. And what they often are, too! Just think what a railway station or a newspaper would be like without advertisements. Would you enjoy gazing at a blank wall reading railway bye-laws while waiting for a train? Would you like to read only closely-printed columns of news in your daily paper? A cheerful, witty advertisement makes such a difference to a drab wall or a newspaper full of the daily ration of calamities.

We must not forget, either, that advertising makes a positive contribution to our pockets. Newspapers, commercial radio and television companies could not subsist without this source of revenue. The fact that we pay so little for our daily paper, or can enjoy so many broadcast programs is due entirely to the money spent by advertisers.

Another thing we mustn’t forget is the “small ads”, which are in virtually every newspaper and magazine. What a tremendously useful service they perform for the community! For instance, you can find a job, buy or sell a house, announce a birth, marriage or death in what used to be called the “hatch, match and dispatch” columns. No other item in a newspaper provides such entertaining reading or offers such a deep insight into human nature. It’s the best advertisement for advertising there is!

18.* Render the following passage in English (10–12 sentences) using active vocabulary.

Под термином «рекламная кампания» мы будем понимать комплекс рекламных мероприятий, связанных единой концепцией и рекламной идеей, направленных на достижение конкретной маркетинговой цели в рамках маркетинговой стратегии рекламодателя.

Рекламные кампании отличаются разнообразием. Из множества их возможных классификаций целесообразно выделить следующие:

•по преследуемым целям (поддержка конкретного товара, формирование благоприятного имиджа рекламодателя и т.д.)

•по территориальному охвату (локальные, региональные, национальные, международные)

•по интенсивности воздействия (ровные, нарастающие, нисходящие).

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В рамках ровной рекламной кампании мероприятия распределяются равномерно во времени, например, телевизионная реклама – один раз в неделю в определенный день, рекламные публикации в газете – также через равные промежутки времени и т.д. Этот тип рекламных кампаний имеет смысл при достаточной известности рекламодателя, при напоминающей рекламе.

Нарастающая рекламная кампания строится по принципу усиления воздействия на аудиторию. Такой подход целесообразен при постепенном увеличении объема выпуска рекламируемого товара.

Нисходящая рекламная кампания является наиболее приемлемым ее типом при реализации ограниченной по объему партии рекламируемого товара. По мере его реализации снижается интенсивность рекламной поддержки.

;Speaking

1.Should advertising attempt to inform consumers? Why? Always? Should advertising attempt to persuade consumers? Why? Always?

2.Define advertising and promotion. How do you think that they differ in the dominant tasks that they are asked to perform?

3.What are the major advertising media? Are they equal in value to advertisers?

4.What media are available to advertisers today that were not available a century ago? What influence has the development of new media had on the growth of advertising?

5.What predictions would you make regarding the future of advertising and promotion?

6.Which of the following is true? a) “Promotion is an example of advertising”; b) “Advertising is an example of promotion”.

7.Explain the role of publicity in marketing.

8.Tell some of the advantages and disadvantages of publicity. Give a recent example of one receiving (un)favorable publicity.

9.Why do companies engage in sales promotion activity?

10.What is an advertising agency? What functions are performed by most agencies? (Use additional text)

11.List several criticisms of advertising. Are they justified? How could you answer them? (Use additional text)

12.What are the benefits of advertising? What evidence is there that they outweigh its disadvantages?

13.There is a saying: “Doing business without advertising is like winking someone in the dark. You know what you are doing but nobody else does”. Use your own examples to prove that it is true.

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; Writing

Express your opinion on the following (150–200 words):

a)“Not everyone agrees that advertising benefits the economy”.

b)“Much advertising tries to persuade consumers rather than inform them”.

c)“Advertising is costly to produce, and these costs raise prices for consumers”. (do it in writing, 150–200 words).

;Key Vocabulary

Unit IV

B A N K I N G

;Lead-in

1.Which of the banking facilities do you use?

2.What other services do commercial banks offer in your country?

3.What changes have there been in personal banking recently?

4.What further changes do you foresee in the future?

;Reading

Text 1

Read the text and identify the issues discussed in the text. In each paragraph, find the sentences supporting the main idea of the text. What paragraph contains the most important information? Be ready to answer the questions given below.

New services in banking

Banks perform the widest range of functions (see Fig. 1) in the economy and consequently any modern full-service banking institution should provide the widest variety of services.

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Fig. 1.

Banks may be defined as firms producing and selling financial services. Their success or failure hinges on their ability to identify the financial services the public demands, produce those services efficiently, and sell them at a competitive price. The service menu of banks does not remain unchanged as new services are constantly being introduced and developed by commercial banks. Many of them offer a combination of wholesale and retail banking. The former provides large scale services to the corporate sector. The latter mainly provides smaller scale services to the general public.

The 1980s ushered in an explosion of new service options. Many of the new services have simply been variations of traditional deposit and loan product. Other innovative services, however, have broken new ground and exposed bankers to all the uncertainty and risk associated with new product development.

Trust services are one of the most important and rapidly growing bank service areas today. Bank trust operations encompass the management of property and other assets owned by a bank customer and the administration of a customer’s security holdings and borrowings. In offering trust services the bank places itself as authorized agent between the marketplace and the customer, making investment and management decisions on the customer’s behalf and dispensing funds when needed to cover the customer’s obligations. A bank’s trust operations are usually divided into three broad areas: (1) personal trust services, (2) business trust services, and (3) trust services for charities and nonprofit organizations. Each involves a fiduciary relationship between bank and customer – that

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is, a trust department acts to benefit its customers within those areas defined by contract (the trust agreement) between the bank (trustee) and the customer (trustor) covering a specified period of time.

Banks provide a wide range of trust services for individuals and families in the form of estate settlement, trust administration and agency services. Bank trust divisions act as agents for corporations and other businesses in a host of different ways. This may involve issuing securities on the business customer’s behalf, paying dividends or interest owed on any securities issued, reinvesting the dividends for securities holders who request that service, and retiring the securities at maturity. Under the terms of the Federal Trust Indenture Act of 1939, any foreign or domestic corporation that issues securities to the general public in the United States must designate a trustee for that security issue to act as a fiduciary, representing the investors purchasing those securities. Trust departments also handle transfers of ownership of corporate stock, stock splits, and conversions of stock into debt, and they issue proxies and count votes in connection with annual stockholder meetings.

Today, banks frequently serve as trustees under indenture, holding legal title to property securing a bond issue, with the power to foreclose on and liquidate that property if the issuer defaults. The bank as trustee must make sure all bond covenants agreed to by the issuing corporation are adhered to and that all required liens against the company’s property are duly filed and recorded. The trust department will set up and manage a sinking fund, investing all monies that the bond issuer contributes to that fund periodically with the intent of eventually redeeming the bond issue.

The fiduciary activities of banks make a critical contribution to the functioning of the commercial paper market, where the unsecured, short-term notes of large corporations (both foreign and domestic) are traded. Bank trust departments keep records on which investors purchase commercial paper, see that any notes purchased are actually delivered to the investors involved, and pay off the holders of those notes on the maturity date. Even more important, banks issue letters of credit backstopping issuers of commercial paper in order to reassure investors that the bank will pay off a note issue if the borrowing corporation cannot do so. A bank’s trust department will receive and hold any credit letters issued by other lending institutions and check to see that all the terms of those credit letters are being adhered to by borrowing companies. If necessary, the trust department will file for payment under the terms of a credit letter and dispense the collected funds to note holders.

1. What is the bank? What factors determine the success of its operation?

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2.What makes the 1980s a turning point in banking?

3.What do bank trust operations encompass?

4.What groups do the bank trust operations fall into?

5.What does the Federal Indenture Act of 1939 envisage?

6.What are the obligations of a bank acting as trustee under indenture?

7.What are letters of credit aimed at when they are issued by banks acting as fiduciaries to benefit their corporate customers?

Text 2

Read the text. Point out the key sentence of each paragraph. Be ready to answer the questions given below.

Bank deposits

Banks carrying lending and investment operations have the use of the money of their clients from the moment they pay their money into the bank till the moment they draw it out. The accounts they hold with the bank have credit balances and are called deposits.

Deposits are the raw material of banking and, thus, represent the ultimate source of bank profitability and growth. They are a unique item on a bank’s balance sheet that clearly distinguishes a bank from other types of business firms. There are two main types of accounts opened by the British clearing banks for their customers: the current account and the deposit account. Some banks provide a savings bank account. It is worth mentioning that banks have been eager in recent years to attract the accounts of even quite modest private people, despite the likely small size of the individual deposits and the high overheads incurred in servicing such accounts. The banks do not pay their customers any interest on current accounts, but provide some free of charge services to the holders and issue them with checkbooks. An account of checks paid, credits received and resulting balances is printed out by the bank’s computer and sent to the customer. Big companies will require their statements daily, small private customers usually get theirs every three or six months. If an account becomes overdrawn a special code sign warns the account holder that his balance is in the debit. In case of overdrafts, a bank levies extra charges. Money on a deposit account is not instantly available but can be withdrawn after giving the bank seven days’ notice. Banks pay interest on deposit accounts. For years this rate was fixed at 2 per cent below bank rate but now the banks key their rates to a base rate which varies with the money market rates.

There has been a steady drift of funds out of current into deposit accounts and also away from the clearing banks into interest-earning deposits of other financial institutions. However, many experts find it

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