- •Contents
- •I. Selling
- •IV. Read the text again and answer the following questions.
- •§1 Quick, §2 path, §3 probable, §5 persuade, §7 discouraging.
- •If you fail to follow up an initial contact …………
- •If you are going to do the selling and it has not been your job previously it is vital ……….
- •If the goods are going to be late …………
- •Vocabulary Focus
- •Commerce
- •§1Unprocessed, §2substitute, §3empower, §4obtain, include; §7consist; amount
- •6. Banks assist commerce by providing businessmen ………….. .
- •Vocabulary Focus
- •Consumer Goods
- •Vocabulary Focus
- •Pricing And Sales
- •VI. Find the equivalents of these Russian words and phrases in the text.
- •Vocabulary Focus
- •Pricing strategies:
- •How to Set a Price
- •II. Read and decide whether these statements are true (t) or false (f).
- •III. Now read the text and check your answers to the statements from ex. II.
- •§2 Computation, §3 cost, §5 purchaser, §7 maintain, §5 resources
- •5. Some people use the level of costs as a way of……… .
- •Vocabulary Focus
- •Modern-day Retailing
- •§1 Intend, §2 supply, §3 range, §5 realize, §6 equipment.
- •Vocabulary Focus
- •Wholesale Trade
- •III. Now read the text and check your answers to the statements from ex. II.
- •§1 A person who buys in bulk, §1 luggage compartment, §2 multiple store, §3dispenser, §3 tradesman, §3 producer, §4 storehouse, §5 assortment of goods
- •2. Firms engaged in large-scale retail trade is large enough …………………. .
- •3. The wholesalers reduce the number of parcels ……………………… .
- •Vocabulary Focus
- •Credit Sales
- •III. Now read the text and check your answers to the statements from ex. II.
- •1. In order to encourage retailers to………… a wholesaler may offer a cash discount.
- •III. Now read the text and check your answers to the statements from ex. II.
- •§1 Preparations, §2 mediators, §3 at the same time, §4 relations, §7 peculiarity,
- •§8 Decrease
- •Intermediaries (stockbrokers) who transact business …………… .
- •Vocabulary Focus
- •The Role of the Market
- •III. Now read the text and check your answers to the statements from ex. II.
- •§2 Domestic; use §3 work §5 offer; temporary; senior managers §6 shortage
- •2. The low hamburger price was a good way to satisfy your appetite………. .
- •Vocabulary Focus
- •Marketing and Promotion
- •Vocabulary Focus
- •Trade Restrictions
- •III. Now read the text and check your answers to the statements from ex. II.
- •§1 Newborn, §2 restricted, §3 obligatory, §4 precise, §5 free from
- •If an industry is just starting up (when it is called an infant industry) the government may help it because ………….. .
- •If tariffs only apply to certain goods of certain countries, …………. .
- •Vocabulary Focus
- •Sales Jobs
- •§1 Main, §3 profitable, §3 to increase, §3 to underline, §4 to debate
- •Vocabulary Focus
- •XI.Paraphrase the following phrases in italics using the expressions from ex. X.
- •References
VI. Find the equivalents of these Russian words and phrases in the text.
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a) накладная |
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b) официальный отчет |
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c) размер прибыли |
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d) устанавливать цену |
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e) cчет-фактура |
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Which of the three is the key message of the text?
The law of supply and demand has its impact on the price quotation and the whole distributing process.
The process of price quotation and the process of making other transactions relate to sales in the organization.
The price structure, the impact of the law of supply and demand on the price and the organizational units which are in charge of the control over the price and other transactions, conducted in the organization.
Vocabulary Focus
Fill in the table with the missing derivatives from the text.
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Nouns |
Verbs |
Adjectives |
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quotable |
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cost |
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charge |
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comparison |
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produce |
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demand |
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profitable |
Use a word from the left column and a word from the right one to make two-word expressions that complete the sentences below.
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overall |
note |
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profit |
costs |
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unit |
a price |
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delivery |
margin |
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quote |
costs |
1. All the costs, which experience the company during the production process and the process of delivering goods to the consumer, are called ……….. .
2. The company usually allows a ….… of at least 10%.
3. The majority of the companies calculate their overall costs in advance in order to work out …… .
4. When the company …… for a model, it puts into the price the overall costs and profit margin.
5. The form, which accompanies the goods, is….… .
Study the following pricing strategies and use them in proper sentences below. Consult the dictionary if necessary.
Pricing strategies:
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Absorption pricing Creaming or skimming Competition-based pricing Contribution margin-based pricing Cost-plus pricing Dynamic pricing Limit pricing Loss leadership Marginal-cost pricing |
Market-oriented pricing Penetration pricing Premium pricing Predatory pricing Price discrimination Price leadership Psychological pricing Target pricing |
1) ________________ is setting the price based upon prices of the similar competitor products.
2) The firm calculates the cost of producing the product and adds on a percentage (profit) to that price to give the selling price. This pricing strategy is _______________.
3) Selling a product at a high price, sacrificing high sales to gain a high profit is _____________.
4) _____________ is a kind of pricing, when the price is set by a monopolist to discourage economic entry into a market, and is illegal in many countries.
5) _____________ can be similar to predatory pricing or cross subsidizing; both seen as anticompetitive practices.
6) _____________ is setting a price based upon analysis and research compiled from the targeted market.
7) _____________ is a strategy when the price is deliberately set at low level to gain customer's interest and establishing a foot-hold in the market.
8) _____________ is setting a different price for the same product in different segments to the market.
9) _____________ is the practice of keeping the price of a product or service artificially high in order to encourage favorable perceptions among buyers, based solely on the price.
10) ____________ - aggressive pricing intended to drive out competitors from a market.
11) ____________ maximizes the profit derived from an individual product, based on the difference between the product's price and variable costs (the product's contribution margin per unit), and on one’s assumptions regarding the relationship between the product’s price and the number of units that can be sold at that price.
12) ____________ is pricing designed to have a positive psychological impact.
13) A flexible pricing mechanism made possible by advances in information technology, and employed mostly by Internet based companies. By responding to market fluctuations or large amounts of data gathered from customers - ranging from where they live to what they buy to how much they have spent on past purchases - _____________ allows online companies to adjust the prices of identical goods to correspond to a customer’s willingness to pay.
14) _____________ is an observation made of oligopoly business behavior in which one company, usually the dominant competitor among several, leads the way in determining prices, the others soon following.
15) _____________ is pricing method whereby the selling price of a product is calculated to produce a particular rate of return on investment for a specific volume of production.
16) _____________ is a method of pricing in which all costs are recovered. The price of the product includes the variable cost of each item plus a proportionate amount of the fixed costs.
17) _____________ is the practice of setting the price of a product to equal the extra cost of producing an extra unit of output.
A springboard for discussion
Give some more examples on how the law of supply and demand influences the pricing.
What impact does the law of supply and demand have on different branches of economy?
The third paragraph of the text gives the detailed information on how the sales process is organized. Please, give the description of the pricing process in an organization. Do it in compliance with the third paragraph of the text.