If a company:

enters penetrates	a market	it stops selling there.
abandons gets out of leaves		it is the most important company selling there.
dominates		it starts selling there for the first time.
corners monopolizes		it leaves the market, yielding its market share to a stronger rival.
drives another company out of		it is the only company selling there.
is pushed out of		it makes the other company leave the market, perhaps because it can no longer compete.

Exercise 6. Referring to the above table, use the correct form of the words in brackets to complete the sentences. Translate the resulting sentences into Russian:

1. European films do not export well: they barely ……………………………… (abandon/corner/penetrate) the US market.

2. In the 1970s, Kodak ……………………………….. (corner /enter/leave) the instant photography market, until then ……………………………… (abandon/dominate/penetrate) by Polaroid.

3. The Hunt brothers tried to fix silver prices and to …………………………… (corner/enter/leave) the silver market, ……………………………………. (enter/drive out/monopolize) all competitors.

4. In the 1940s, MGM …………………………… (abandon/get out of/monopolize) the market on film musicals. But by the late 1950s, Warner Bros had also started baying film rights to musicals.

Exercise 7. Complete the sentences with the active vocabulary expressions from the boxes and then translate the resulting text:

market economy

market price

market force

market place

market research

A ____________ ______________ is one where things are bought and sold freely and not under government control. In a market economy, prices are decided by ____________ ______________, the factors that influence the demand for things, their availability, and consequently their price. ____________ ______________ is used to indicate that a price has been ‘decided’ by the market, and not in some other way, for example by the government. ____________ ______________ means the same as market. ____________ ______________ is the gathering of information on markets, products and consumers: on what people, want, and buy; how and when they buy; and why they buy one thing rather than another.

Exercise 8. Read this description of a language training market. Answer the questions that follow:

In Paris, 500 organizations offer language training to companies. However, 90 per cent of sales are made by the top five language training operators. The market is not growing in size overall. Organization A has 35 per cent of the market, and faces stiff competition from B, which has about 25 per cent of the market, and from C, D and E, who each have 10 per cent, but who are trying to grow by charging less for their courses, thus dumping the market.

1. How many competitors are there in this market?

2. Is the competition in the market strong?

3. Who is the market leader?

4. Who are the two key players?

5. Who mainly makes up the competitions, from the market leader’s point of view?

6. If one competitor increases its market share, can the others keep their market share at the same level?

7. Answer the above questions about the market that you know or the market that a company you would like to work for, is in.

Exercise 9. Complete the sentences with an appropriate form of the word in brackets and translate the resulting excerpts:

1. People seem to be buying our ________________ products more than ours these days. (COMPETE)

2. Perhaps our prices just aren’t ____________________ enough. (COMPETE)

3. The __________________ between the applicants caused an unpleasant atmosphere. (RIVAL)

4. Not only are we in ___________________ with American companies, but Asian one too. (COMPETE)

5. These two firms are _________________ for the biggest share of the hoe-computer market. (RIVAL)

6. If we cut our costs we’ll be able to improve our _________________ in the marketplace. (COMPETE)

Exercise 10. Complete these sentences with phrasal verbs by choosing one option of the range:.

1. If we can’t turn the firm ________, we’ll go out of business.

a) around b) off c) up d) on

2. Research and development (R&D) have come ______________ a clever solution.

a) out with b) down to c) up with d) in

3. It was only after they’d taken the company _______that they realized the extent of the problems.

a) over b) up c) in d) on

4. We’ve entered the market too late; we’ll never be able to catch ______ with our competitors now.

a) on b) out c) up d) down

5. Through bad management they turned a crisis _________ a disaster.

a) over b) into c) off d) on

6. They have managed to stay ________ of their competitors by always introducing new and innovative products.

a) forward b) away c) ahead d) aside

7. We can’t bring ________ the upgraded model until the spring.

a) up b) out c) down d) away

8. If we cut ____________ our entertainment budget to a reasonable level, we should be able to save a lot of money.

a) off b) out c) back d) down

Exercise 11. Complete sentences 1-7 with endings a-g. Provide the Russian for the advice:

1	We need a fresh marketing strategy if…	a	…turned working clothes into fashion items
2	One way of dealing with a competitor…	b	…brought out vacuum cleaner just like ours!
3	Our range is looking tired, we need to…	c	…are catching us up fast.
4	According to our sales figures, our rivals…	d	...turn the falling company around
5	Have you seen their catalogue? They’ve…	e	…is to take it over.
6	Through clever marketing they…	f	…we are going to stay ahead of the competition.
7	They’re hoping that the new managing director can…	g	…come up with some new product ideas fast.

Exercise 12. Complete the text about the airline industry with appropriate forms of words based around COMPETE and translate this excerpt:

National airlines are facing severe comp…………………(1) from a new generation of cheaper rivals. By cutting their costs and offering cheap fares, budget airlines have caught up, and in some cases overtaken, national carriers in reputation and popularity. Overstaffed and inefficient national carriers find it hard to comp………………..(2) and regularly appoint new managers to fix them. These new managers come up with ideas to turn the airlines into more efficient and comp……………(3) operations. Even so, they find it hard to say ahead of the low-cost airlines. Just to break even is a tremendous struggle and they usually make enormous losses. Such rivalry is good for consumers, but price-cutting means that some well-known national carriers may not survive. They will become obsolete unless they switch to the practices of their low cost comp…………….. (4). This will mean improving their comp………………. (5) and diversifying into other services.

Which words and expressions in the above text mean:

1. out of date and old-fashioned? ………………………………………..

2. the usual was of doing something? ……………………………………

3. pass in front? …………………………………………………………

4. neither to lose nor make money? ……………………………………

5. change? ……………………………………………………………….

6. competitors? …………………………………………………………

7. competition? ………………………………………………………..

8. lose a lot of money? ………………………………………………..

Exercise 13. ‘SIMPLY THE BEST’ is a slogan which has been used by many advertisers including a radio station, a hotel, a farm, clothing manufacturers, electrical products, consumer goods and an airline. All of these were intended to ensure a company’s better chances for victory in competition. Do you think it’s a “win-win” strategy?

1. What do you think these slogans are advertising? For example, 1 promotes f.

1	Whiter than White.	a	washing-up liquid
2	Setting the Standards.	b	lawnmowers
3	Because Someone Loves Him More.	c	coffee
4	Cuts shorter. Cuts easier. Cuts time.	d	a charity for homeless dogs
5	Costs a Little More – Cleans Much Longer.	e	an airbus
6	For a Better Future.	f	washing powder
7	Reliability at Better Speeds, Greater Comfort and a Lower Price.	g	a type of a car
8	Put Your Trust In The Safest Hands.	h	watches
9	A Richer, Smoother Experience.	i	a political party
10	The Best of Times, the Worst of Times – But Always On Time.	j	a bank
11	Ideas For Life.	k	sportswear
12	Connecting People.	l	softwear (computer programs)
13	Get More Out Of Now.	m	brown goods
14	We Make IT Happen	n	computers

2. ‘Life is a game’: Guess what company uses this slogan, what is its specialization, or at least which industry it might work in?

3. Look at all the slogans again.

A. Circle all the comparative or superlative words in the slogans above.

B. Which slogans are comparing themselves to the competitors and their brands?

C. Underline all the verbs and nouns in the slogans.

4. Think of something you want to advertise, e.g. a product, a service, an organization.

Think of words related to the subject and write them down. For example, SOAP: (verbs) clean, wash; (adj) good, clean, luxurious, dirty; (nouns) hands, body, face.

5. Use some of your verbs, adjectives and nouns to create a slogan for your start-up. Remember to make your adjectives into comparatives and superlatives.

6. Read your slogan to other students in the class. Can they guess what you are advertising?

Exercise 14. Analyze the survey ratings and give possible justifiable reasons for such lists of winners and losers. What are their Strengths and Weaknesses (SWOT analysis components)? To substantiate the choices, please turn to the web-sites which post their survey tolls. Why would the same-year surveys differ if completed by different institutions and experts?

“Most Admired Company” List Without A Single Surprise

Everyone loves Warren Buffett of Berkshire Hathaway (BRK.B) and the “never be evil” management of Google, while Citigroup (C), Goldman Sachs (GS), and the other large firms on Wall St. are among the most hated in America. People surveyed particularly despised companies that got taxpayer money. Harris Online, Forbes magazine, CNN and other experts and media come out with their annual lists of “The 10 Most Admired Companies” or “The 10 Most Hated Companies” based on a poll of thousands of people conducted between December 29 and February 15. At least sixty companies are typically on the list of firms that respondents consider.

The order of the list shows just how effective the media’s portrait of companies can be and the extent to which the federal bailout has branded firms, even those on which the government made a good return on the money in investments from the TARP (Troubled Asset Relief Program).

MOST ADMIRED:		LEAST ADMIRED:
Apple Berkshire Hathaway Inc Johnson & Johnson Google Inc 3M Co Intel Corp Microsoft Corp Coca-Cola Co Amazon.com Inc General Mills Inc		Freddie Mac American International Group Inc Fannie Mae Citigroup Inc Goldman Sachs Group Inc Chrysler General Motors JPMorgan Chase Bank of America Corp Delta Air Lines Inc

Reuters