Lesson 6

Task 1. Complete the text with the words in the box.

1. marketing mix	5. competitor	9.communication	13. movement	17. market research
2. Target market	6. Placement	10. publicity	14. objectives	18. distribution
3. interrelated	7. Product	11. manufacturer	15. value	19. advertising campaign
4. Price	8. Promotion	12. reward	16. marketing strategy	20. satisfy

Marketing

In modern terms, marketing is defined as the ( 1 ) of goods and services from

( 2 ) to consumer in order to ( 3 ) the customer and to achieve the company's

( 4 ). It can be considered as dynamic field that involves a wide variety of activities.

The ABC of marketing is the so-called ( 5 ). It includes the four P's: product, price, placement, and promotion.

( 6 ) (service) is often connected with development of a new product or service, searching the potential markets, and, finally, introduction it to the market.

( 7 ) selection is the most important task for any firm. A target market is a group of individuals who will probably buy the product. That involves the development of a

( 8 ). A successful marketing mix depends on the knowledge about consumers and their buying habits, gained through ( 9 ) as well as correct identification of the target market.

( 10 ) is the most changeable element of all the four P's. Its definition is exchange of something of value for something else. There are three pricing options the company may take: above, with or below the prices its ( 11 ) are charging. Most companies price with the market, selling their goods and services for average prices established by major producers in the industry known as price leaders.

( 12 ) involves getting the product or service to the customer. This takes place through the channels of ( 13 ). A common channel of distribution is:

Manufacturer —> wholesaler —> retailer —> customer.

( 14 ) includes all kinds of ( 15 ) with individuals, groups, or organizations to directly or indirectly facilitate exchange by informing and persuading them to accept an organization product or service. There are two major ways promotion occurs: through personal selling, as in a store; and through advertising, as in a newspaper. One should distinguish ( 16 ) which can be developed by personnel within the firm or in conjunction with advertising agencies, and ( 17 ), that is the means of communication transmitted through mass media at no charge.

All marketing activities must be oriented toward creating and sustaining satisfying exchanges. Both the buyer and the seller must be satisfied. The first should be satisfied with goods, services or ideas obtained in the exchange. The seller should receive something of ( 18 ), usually financial ( 19 ). All marketing variables are highly ( 20 ).

Task 2. Match each of the words or phrases on the left to an appropriate definition.

1.Long-term financing	a) Money obtained to finance current operations which will be repaid in less than one year
2. Bill of Exchange	b) 1. A contract for buying a property using the property as security for a long-term loan 2. To obtain a loan with a property as security
3. Term loan agreement	c) A payment towards a larger sum usually made at regular intervals
4. Revolving credit	d) A promissory note that requires the borrower to repay the loan in installments that are specified
5. Line of credit	e) A written order to a bank to pay a stated amount of money to a stated person, or, after endorsement , to the bearer on or within a stated time after a given date
6.Short-term financing	f) Difference between income and costs
7. Bond	g) A line of credit that is guaranteed by the agreement bank
8. Hire-purchase	h) The amount of unsecured short-term credit a bank will lend a borrower that is agreed to ahead of time
9. Interest	i) Contract document promising to repay money borrowed by a company or government
10. Margin	j) Paying for something in regular installments
11. Mortgage	k) Synonym for security
12. Collateral	l) A percentage of the capital paid by a borrower to a lender
13. Installment	m) Money obtained from the owners of the firm and lenders which will be repaid over a specific time period longer than one year

Task 3. Fill in the blanks using the word combinations given below, translate the letter.

Letter 1.

Dear Sirs,

We would like (1)_______ the suggested terms of payment during our negotiation.

The exact date, time and place of the negotiation will (2)______ . Being aware of your difficulties our firm (3)_____ in suggesting (4)______.

We will (5)______ a first class bank guarantee for 15% (6)______ .

Sincerely yours,

a. made a concession;

b. payment for collection terms;

c. of the contract value;

d. to discuss in detail;

e. be informed for you;

f. undertake to submit

Letter 2.

Dear Sirs,

May we ask you (1)______ and let us know what goods you (2)______.

We (3)_______ in offering you our new products. We ask you (4)______ that you will be able to receive regular information about our activity. We are greatly interested in presenting our firm and learning (5)______ .

We (6)______ your approval.

Sincerely yours,

a. are looking forward to;

b. are interested in;

c. more information about your firm;

d. to take into account;

e. to look into the catalogue;

f. take pleasure

Task 4. Choose the correct variant.

1. They didn’t lie – they simply tried to … the truth.

a) conceal

b) prevent

c) reduce

d) warn

2. The music industry is very concerned about … infringement.

a) patent

b) copyright

c) trademark

d) intellectual

3. The last test was … than the two previous ones.

a) more difficult

b) most difficult

c) the more difficult

d) the most difficult

4. My boss says I … late to work many times. I’m fired.

a) have been

b) was

c) had been

d) were

5. The rate of inflation … to rise.

a) is expected

b) has expected

c) was being expected

d) expects

6.She said she … the tickets the next day.

a) booked

b) had booked

c) would book

d) book

7. The manager … finished the work yesterday morning.

a) may

b) could

c) must

d) should have

8.If you arrange for delivery at your risk and expense, we … to your price.

a) agree

b) will agree

c) agreed

d) would agree

9. … new markets is our main objective for next year.

a) develop

b) developing

c) to develop

d) having develop

10. If I had had enough money, I … a real Rolex, but I didn’t.

a) would buy

b) bought

c) had bought

d) would have bought