Lesson 7

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

1. suppliers	5. company	9. presenting	13. implementing	17. operations
2. However	6. viewpoint	10. decision-making	14.microenvironment	18. defining
3. retailers	7. products	11. influenced	15. developing	19. markets
4. customers	8. competitors	12.intermediaries	16. marketing	20. departments

Marketing Research: Key Players

The major actors in a company's ( 1 ) are the company itself, suppliers, market intermediaries, ( 2 ) and competitors. Let us consider the roles of each of them.

The ( 3 ). All the ( 4 ) within a company (e.g. production, finance, personnel) have an impact on the ( 5 ) department's plans and actions.

The ( 6 ). Changes in the supplier environment, such as prices and availability of raw materials, have a considerable impact on a company's marketing ( 7 ).

The market ( 8 ). Middlemen such as agents, wholesalers and ( 9 ), are powerful actors. In some cases they can dictate terms and even bar the manufacturer from certain ( 10 ).

Customers. The marketer needs to know what people are involved in the buying decision and what role each person plays. For many ( 11 ), it is not difficult to identify the decision-maker. Men normally choose their own shoes and women choose their own make-up. ( 12 ), some products and especially new ones may involve more than one person’s ( 13 ). Competitors. A company's marketing system is greatly ( 14 ) by the ghost of ( 15 ). The best way for a company in grasp the full range of its competition is to take the ( 16 ) of a buyer.

There are four steps in the market research process: (1) ( 17 ) the problem, (2)

( 18 ) the research plan, (3) ( 19 ) the plan, and (4) interpreting and ( 20 ) the findings.

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

Accounting system	Revenue minus expenses
Assets	The value of what is received for goods sold, services rendered, and other sources
Bookkeeping	Financial statement, which reports revenues and expenses over a specific period of time, showing the results of operations during that period. It summarizes all resources that came into the film (revenues), and all the resources that let the firm and the resulting net income
Cash flow	Costs incurred in operating the business, such as rent, utilities, and salaries
Certified public accountant (CPA)	The methods used to record and summarize accounting data into reports
Cost of goods sold (or cost of goods manufactured)	The systematic write off of the value of an asset
Depreciation	Economic resources owned by a firm, such as land, buildings, machinery
Expenses	Totaling all the debit balances and all of the credit balances in the ledgers to be sure debits equal credits
Fundamental accounting equation	The recording of business transactions
Gross margin (profit)	Amounts owed by the organization to others. Current liabilities are not due within one year
Journals	Report of cash receipts and disbursements related to the firm’s major activities: operations, investments, and financing
Ledger	Accountants who pass a series of examinations and meet the state’s requirements for education and experience (in the USA)
Liabilities	Accountant who provides services for a fee to a number of companies; he can conduct independent audits
Liquidity	A particular type of expense measured by the total cost of merchandise sold (including cost associated with the acquisition, storage, transportation in, and packaging of goods)
Net income	Recording device in which information from accounting journals is categorized into homogeneous groups and posted so that managers can find all the information in the same place
Net sales	Net sales minus cost of goods sold
Owners’ equity	The ease with which an asset can be converted to cash
Private accountant	Accountant who works for a single company
Public accountant	The difference between cash receipts and cash disbursements
Revenue	Sales revenue minus discounts, returns, and other adjustments made for customers
Statement of changes in cash flow	Recording devices used for the first recording of all transactions
Income statement	Assets minus liabilities
Trial balance	Assets = liabilities + owners’ equity; it is the basis for the balance sheet

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

Letter 1.

Dear Sirs,

We (1)______ to inform you that terms of payment (2)______ .

(3)_______ we discussed the proposed method of payment with our partners. We are pleased to confirm that this matter (4)______ . Please, (5)______ that we did not pay the account in time. We (6)______ that our firm will pay the debt on the 5^th of May at the latest.

Faithfully yours,

a. can assure you;

b. following your instructions;

c. are acceptable for us;

d. has been settled;

e. take this opportunity;

f. accept our apologies.

Letter 2.

Dear Sirs,

We authorized (1)______ in your country to sign an addendum to our contract providing for the change in (2)______ . The above addendum (3)_______ on the 10^th of June this year.

We (4)_____ us at the earliest convenience when the bank guarantee (5)______ and also let us have your consent to (6)______ .

We are looking forward to your reply.

Faithfully yours,

a. will be submitted;

b. the original method of payment;

c. covering the storage expenses;

d. our trade representative;

e. was signed;

f. urge to advise.

Task 4. Choose the correct variant.

1. Logistics is mostly associated with the … of goods from one place to another.

a) travel

b) transport

c) export

d) import

2. … of real brands or genuine goods in China are facing a smaller challenge than you might expect.

a) merchandisers

b) dealers

c) sellers

d) buyers

3. Is the new hotel much … than the old one.

a) the farthest

b) far

c) the farther

d) farther

4. Lately, Austin … about changing his career because he … dissatisfied with the conditions at his company.

a) has been thinking, has been

b) has thought, has been

c) thinks, is

d) was thinking, had been

5. Mr. Brown … to give details of his bank account yesterday.

a) made

b) has made

c) was made

d) is being made

6. He asked her when she … to take her vacation.

a) wants

b) would want

c) wanted

d) want

7. He … master English if he studies hard.

a) will be able to b) can not

c) shouldn’t

d) may not

8. If we … more money to spend, we would be more interested.

a) have

b) have had

c) had

d) had had

9.The protest wouldn’t have been as affective, if it … on the news.

a) didn’t appear

b) appeared

c) hadn’t appeared

d) wouldn’t appear

10. They are very interested in … our new products.

a) buy

b) to buy

c) bought

d) buying