Curs de Limbi Moderne Aplicate in Domeniul Afacerilor

SUPORT CURS 2005/2006CURS DE LIMBI MODERNE APLICATE N DOMENIUL AFACERILOR

LIMBA ENGLEZA

ANUL IILIMBA ENGLEZ

Titular Lector Dr. Mariana Toma

CONTENTS

ForwardUnit one. Marketing Unit two. Advertising Unit three. Finance Unit four. Banking Unit five. Insurance Unit six. International Trade Answer KeyBibliographyForward

The present material is a useful tool, both for class study and for individual study, for business students preparing for their second year final exam, or for the final examination at the end of their academic studies.

The six theme-based units consist of reading and vocabulary tasks built on business authentic on-line publications .

The types of exercises are:

I. Reading Comprehension

a text accompanied by four/option multiple choice items. The stem of a multiple choice item may be in the form of a question or an incomplete sentence.

a gapped text with six sentence-length gaps. The correct sentence must be identified in order to fill each gap from a set of eight sentences marked A-H. One sentence is an example and one other sentence is a distractor which does not fit any of the gaps.

a text accompanied by true-false multiple choice items. The stem is generally a statement.

a gapped text followed by sub-headings. The correct sub-heading must be identified, according to meaning.II. Vocabulary Practice

a lexical cloze: a gapped text with 10-15 four-option multiple choice items, most of which test vocabulary.

a structural (open) cloze: a gapped text in which one word has to be supplied in order to fill each gap.

an error-correction or proof-reading task based on a text, with 10-15 items. In most lines of the text there is either an extra word that shouldnt be there, or there is a spelling or grammar mistake, which should be identified and deleted. There are, nevertheless, lines which contain no error.

a word-formation task, based on a text with 10-15 gaps. Prompts are given for each gap and the correct form of the word must be supplied for each gap.

a matching exercise, based on a text with 10-15 gaps, followed by the missing words in jumbled order. The appropriate words must be given for each gap.

a matching exercise, in which two list of words are given, and each word in the first column must be matched with a word from the second column in order to form suitable collocations, followed by a gapped text, in which the collocations found above have to be inserted.

a matching exercise, in which two lists are given, one with words and phrases, whereas in the second column are to be found their definitions. Each word and phrase have to be matched to their corresponding definition.

a matching exercise, based on a text, followed by a list of synonyms to some of the words in the text.

a matching exercise, based on a text, followed by a list of antonyms to some of the words in the text.

Students may evaluate themselves by checking the answer key at the end of the course.

how to complain effectively at your hotel:

I. READING COMPREHENSION

1.Read the following text about the selling process:

Steps in the Selling Process

Deciding on the best way to organise your sales force means that you need to consider the people that make up that sales force and how they should be selected and trained. Most sales training takes place on the job or within the company, teaching the standard sequence of the seven steps of the selling process.

1. ______________ The salesperson must identify qualified potential customers. The salesperson often has to approach many prospects in order to get a few sales. Therefore, good salespeople would know how to qualify leads, that is screen out poor leads, and identify good leads by looking at their financial ability, volume of business, special needs, location and growth prospects.

2. ______________ The salesperson should "do his/her homework" before approaching the prospect. He/she should learn as much as possible about the prospect's company, and the buyers. The salesperson should set call objectives, and decide on the best approach (visit, call, or letter) and right timing.

3. ______________ The salesperson needs to get the relationship off to a good start, followed by asking questions about customer's needs or the display of the product (or sample) to attract the buyer's interest.

4. ______________ Here, the salesperson presents the product, it's features, and benefits it represents to the buyer. Salespeople can use three styles of sales approach: canned approach (memorised talk), formula approach (identifies buyer needs, then moves into formula presentation), or need-satisfaction approach (search for customer needs, then explain how product meets their needs).

5. ______________ The salesperson should seek out, clarify and overcome any objections buyers may have for buying the product.

6. ______________ Many salespeople lack confidence, feel guilty about asking for an order, or do not recognise the right moment for closing the sale.

7. ______________ This final step is a key different between selling the sales-oriented way, and selling the marketing-oriented (or customer-oriented) way. The follow-up ensures customer satisfaction and repeat business. This shows the change in selling approaches to a greater focus on the customer, rather than traditional focus on the sale itself. (http:// www.buseco.monash.edu.au)2. Fill in the gaps in the text above with the following sub-headings:

a. Preapproachb. Handling objections

c. Presentation and demonstration

d. Approach

e. Prospecting and qualifying

f. Follow-up

g. Closing

3.Read the following text about marketing planning:

Your 7 Step, One-Day Marketing PlanYou dont have to kill a tree to create an effective marketing plan. In fact, you can create a successful plan for your business in just one day. To begin, dont worry about writing style or making your plan fancy. Just go get a pencil and paper and lets get started.

Step 1 - Understand Your Market and CompetitionA big mistake that many business owners make is to latch on to a cool product or service without first understanding the market and what it wants (not what it needs). If you try to sell something that people dont want, they wont buy it.

A profitable market consists of people who have dire wants that are being unmet, so much so that they will jump to buy your solution (product or service). A profitable market can be compared to a lake with thousands of starving fish. All you need to do is throw in the bate and it turns into a feeding frenzy.

To get an understanding of your market you should ask yourself questions like: are there segments in my market that are being underserved; are the segments of my market for my product or service big enough to make money; how much share of that market do I need to capture, to just break even; is there too much competition in the segment of my market to be competitive; what are the weaknesses in my competitions offering that I can capitalize on; does my market want or value my unique competitive offering?

Step 2 - Understand Your CustomerKnowing your customer intimately is the first step to easy sales. Until you know (1) who your customers are, (2) what they want, and (3) what motivates them to buy, you can't prepare an effective marketing plan.

Dont confuse "wants" with "needs." People dont necessarily buy what they need, buy theyll most always buy what they want. For instance, have you ever known someone that went to the store to buy a pair of pants that they needed and came back with a new shirt, sweater, and shoes? Or how about the everyday shopper who goes into the supermarket to buy some milk and eggs and comes out with a frozen pizza, cheese cake, and other goodies.

People will buy what they want (even if they dont have the money!), not what they need. And yes, this even applies to those "sophisticated" corporate honchos (I used to be one, I should know).

To really get to know your customers youll need to ask yourself questions such as: how does my potential customer normally buy similar products (i.e. in a store, on the web, door-to-door); who is the primary buyer and the primary buying influencer in the purchasing process (i.e. husband or wife, purchasing agent, project leader, secretary); what kind of habits does my customer have-for instance, where do they get their information (i.e. television, newspapers, magazines); what are my target customers primary motivations for buying (i.e. look good, avoid pain, get rich, be healthy, be popular etc.)

Step 3 - Pick a NicheIf you say that your target customer is "everybody" then nobody will be your customer. The marketplace is jam packed with competition. Youll have more success jumping up and down in a small puddle than a big ocean. Carve out a specific niche and dominate that niche, then you might consider moving on to a second niche (but not before youve dominated the first one!). You could be a "lawyer that specializes in child accident liability" or a "C.P.A. for used car dealers" or a "dry cleaner for the Heritage Park subdivision in West Oaks, CA." You get the picture. Make sure to choose a niche that interests you and that is easy to contact. I cant stress this point enough. Theres nothing more destructive than to pick a niche that you cant communicate with or that costs you a ton of money to contact.

Step 4 - Develop Your Marketing Message

You marketing message not only tells your prospect what you do, but persuades them to become your customer. You should develop two types of marketing messages. Your first marketing message should be short and to the point. Some may call this your elevator speech or your audio logo. Its your response to someone who asks you, "So, what do you do?"

The second type is your complete marketing message that will be included in all your marketing materials and promotions. To make your marketing message compelling and persuasive it should include the following elements: an explanation of your target prospects problem; proof that the problem is so important that it should be solved now, without delay; an explanation about why you are the only person/business that can solve your prospects problem; an explanation of the benefits people will receive from using your solution; examples and testimonials from customers you have helped with similar problems; an explanation about prices, fees, and payment terms; your unconditional guarantee.

Step 5 - Determine Your Marketing Medium(s)Remember, when I said that its critical to choose a niche that you can easily contact? When you go to choose your marketing medium(s) youll understand why that was sound advice.

Your marketing medium is the communication vehicle you use to deliver your marketing message. Its important to choose a marketing medium that gives you the highest return on your marketing dollar (ROMD). This means that you want to choose the medium that delivers your marketing message to the most niche prospects at the lowest possible cost.

The following is a smattering of tools you have at your disposal to get your message out: newspaper ads, posters, contests, seminars; television ads, signs, sweepstakes, door-to-door, teleclasses; radio ads, banners, trade shows, yellow pages, articles; classified ads, newsletter, charity events, networking , infomercials; billboards, take-one box, telemarketing, magazine ads, special events; sales letters, flyers, email, movie ads, postcards, doorhangers, agents, media releases, fax broadcasts; brochures, Gift Certificates, word-of-mouth, website, sign picketing; business cards, catalogs, Air Blimps, public speaking, window display.

The trick is to match your message to your market using the right medium. It would do you no good to advertise your retirement community using a fast-paced, loud radio spot on a hip-hop radio station. This is a complete mismatch of the market, message, and medium.

Step 6 - Set Sales and Marketing Goals

Goals are critical to your success. A "wish" is a goal that hasnt been written down. If you havent written your goals, youre still just wishing for success. When creating your goals use the SMART formula. Ensure that your goals are, (1) Sensible, (2) Measurable, (3) Achievable, (4) Realistic, and (5) Time specific.

Your goals should include financial elements such as annual sales revenue, gross profit, sales per sales person etc. However, they should also include non-financial elements such as units sold, contracts signed, clients acquired, articles published etc. Once youve set your goals, implement processes to internalize them with all team members such as reviewing them in sales meetings, displaying thermometer posters, awarding achievement prizes etc.

Step 7 - Develop Your Marketing BudgetYour marketing budget can be developed several ways depending on whether you want to be more exact or develop just a quick-and-dirty number. Its good to start out with a quick-and-dirty calculation and then to support it with further details.

First, if you have been in business for over a year and tracked your marketing-related expenditures you could easily calculate your "cost to acquire one customer" or "cost to sell one product" by dividing your annual sales and marketing costs by the number of units (or customers acquired) sold.

The next step is to take your cost to sell one unit or acquire one customer and simply multiply it by your unit sales or customer acquisition goal. The result of this simple computation will give you a rough estimate of what you need to invest to meet your sales goals for the next year.

ConclusionThere you have it, The Seven-Step, One-Day Marketing Plan. Its simple really. Of course youll need to study up a bit more about your marketing medium(s) of choice, their appropriateness for your message, and their associated costs. But try not to make the development of your plan a laborious, drawn-out task. Remember the 80-20 rule. 80% of your results will come from 20% of your effort.

My final word of advice is to make sure you set aside uninterrupted time to develop your marketing plan. It could very well be the most important document to which you and your team members will ever refer.

(http://www.business-authority.com/sales_marketing)4.Decide whether the statements below are true or false according to the text you have read:

1. A profitable market is the fish market.

T / F

2. Wants and needs are one and the same thing.

T / F

3. Being selective can help you do good in business.

T / F

4. Your marketing message should by no means be blunt and stark.

T / F

5. The more you pay for the delivery of your marketing message via a marketing medium, the higher your return on your marketing dollar will be.

T / F

6. Making general estimates concerning profitable investments will help you meet your financial exigencies.

T / F

II. VOCABULARY PRACTICE

The Marketing Research Process and its Four Steps

(i) Defining the problem and research objectives.The first activity of any marketing research process is defining the problem and 1 . research objectives. This sounds very simple but many research problems 2 .... wrong because people do not clearly decide what information they need from the research that they will commission. Before you begin any external research you should make sure that the information does not already exist. For example, many organisations collect extensive data in different areas of the company that other parts of the company may 3 . . Often academics or the Government Printer publish useful information. Trade or other business associations may also have information. 4 . defining the problem, the marketing manager also has to state the project's research objective(s), whether it is to be an exploratory, descriptive or causal study. The definition of the problem and research objectives is an important step in marketing research as it is the hardest step in the marketing research process, and 5 .. the entire process 6 . (ii) Developing the research plan. Specific information needs must be determined according to the stated research objectives. Information collected can be either secondary or primary data. Secondary data is data that already exists, e.g. journals, magazines, reports. Primary data is data collected for your specific purpose, e.g. by distributing 7 ... . Researchers would normally exhaust secondary data sources before 8 . with primary data collection. The time and cost required for secondary data collection is less, and it is often useful as a starting point in research, as well as in assisting in the definition of the problem and research objectives. In certain situations, secondary data may be sufficient to meet the researcher's information needs. However, if the researcher cannot obtain the needed information from existing secondary data sources, then primary data collection will be required.

There are several 9 ... to be considered in primary data collection: research approaches, contact methods, sampling plan and research instruments.

The three main approaches towards the collection of primary data are: observational, survey and experimental. The observational approach (e.g. observing shoppers' behaviour in a supermarket) is best suited to meet exploratory research objectives; the survey approach (e.g. telephone interviews) which is the most common method of primary data collection is best 10 . to meet descriptive research objectives; and the experimental approach (e.g. taste tests for a new product) is best suited to meet causal research objectives.

There are many different approaches that you could take to collecting information: mail, telephone, email or personal (face-to-face). Each of these techniques has its own strengths and 11 .... and you should be aware of them when you commission any research.

(iii) Implementing the research plan.

If you plan to ask an external agency to conduct the research you need to ensure that you provide the agency with a proper 12 .. showing in detail what information you require. You should make sure that the research agency is aware of all the information that you already have so that you do not 13 ... money finding out things that you already know.

(iv) Interpreting and reporting the findings.

The interpretation of results is an important step in the marketing research process. Interpretation should be 14 .... not only by the researcher, but also the marketing manager. The best research is 15 .. if the interpretations are incorrect.

(http:// www.buseco.monash.edu.au)

1.Fill in the gaps in the text above with the missing words:

a) henceforth

b) weaknessesc) apart fromd) conductede) issuesf) settingg) guides

h) questionnairesi) briefj) uselessk) gol) waste

m) commencingn) suitedo) not be aware of

2.Choose the best word from below to fill each gap:

Price Elasticity and Pricing Policy (Penetration or Skimming)

The most obvious thing about the level of sales revenue to a firm is that they want more and more of it! The problem that most firms therefore come up 1. ____________ is then how do you get more of it? The 2. ___________ answer at this point is to sell more of your product, and that is absolutely right - but how do you?

Price Elasticity of DemandObviously marketing has a key role to play in this process, but a vital part of a firm's market strategy has to be the price they 3. _______________ for their product. Will it be best for them to cut their price to get more revenue, or to 4. ______________ their price??? The answer to this lies 5. ____________ the price elasticity of demand.

PRICE ELASTICITY OF DEMAND =% change in demand

% change in price

If the firm cuts its price by 10%, and the demand for their product increases by 20%, then the price elasticity of demand will be 2. We call the demand for this product ELASTIC. This figure 6. _____________ means that the increase in demand was double the decrease in price. In this situation you would clearly want to cut your price as cutting it has 7. _______________ a lot more business, and so although you're getting less money for each one you sell, you're selling plenty more to 8. ______________ for it.

However, say that when the firm cut its price the same amount (10%), the demand for their product only went up by 5%. This would mean that the price elasticity of demand was only . We call the demand for this product INELASTIC. The figure this time means that the increase in demand was only half the change in price. Here the firm would not choose to cut price 9. ____________ their competitors had) as they would 10 __________ out. They would be selling a few more, but not enough to make up for the fall in price and their sales revenue would go down.

Market Skimming / PenetrationHowever, the firm also need to consider other aspects of their pricing - do they want to aim for a large market share with a low price? In this case they would want to consider market penetration as a pricing strategy. This would mean 11. ____________ a low price (and correspondingly lower profit 12. ___________ on each unit), but selling a higher volume. This depends considerably on whether the product is elastic in demand (see above). 13 ____________ they may want to remain as a niche market product and set a high price (with a higher profit margin on each one sold) - this is known as market skimming. Both of these will have major 14 ____________ for both their sales revenue and their 15 __________ of profit. Remember that high sales revenue does not necessarily mean high profit.

(http://www.bized.ac.uk/dataserv/extel/notes/srev-th.htm)

1. a) against

b) on

c) with

d) to

2. a) tough

b) vulgar

c) crass

d) base

3. a) suggest

b) recommend

c) prescribe

d) charge

4. a) develop

b) increase

c) grow

d) deepen

5. a) beside

b) near

c) with

d) in

6. a) literary

b) latterly

c) literally

d) lightly

7. a) generated

b) invented

c) made

d) created

8. a) make off

b) make up

c) make out

d) make over

9. a) unless

b) except

c) if

d) whether

10. a) loose

b) loosen

c) loss

d) lose

11. a) price

b) prize

c) premium

d) perk

12. a) border

b) edge

c) margin

d) line

13. a) alternating

b) alternatively

c) altering

d) altogether

14. a) implications

b) inferences

c) indications

d) involvements

15. a) altitude

b) height

c) horizon

d) level

3.Read the text below about selling techniques in supermarkets. In most of the lines 1-14 there is one extra word. It is either grammatically incorrect or does not fit in with the meaning of the text. Some lines, however, are correct. If a line is correct, write CORRECT against the corresponding number; if there is an extra word in the line, write the extra word in CAPITAL LETTERS against the corresponding number on your answer sheet. E.g. 0 CORRECT; 00 MUCH

0

00

1

2

3

4

5

6

7

8

9

10

11

12

13

14Selling Techniques

Once they have us inside the shop or complex all sorts of selling techniques can be applied. We become much vulnerable to piggy-back selling, product line pricing, optional product pricing, captive product pricing, product bundle pricing, promotional pricing, geographic pricing, value pricing and various tricks used in positioning products. This last point includes leading us passed associated product ranges, changing the location of high selling lines so as we wander into new areas of the shop, or simply folding clothes so that our tactile senses are awakened when we touch them. Yes, there is a lot of business theory in just a simple visiting to a supermarket. Economics can't be ignored neither. Think for a moment where efficiencies fit into all of this. Retailers aim for all off the efficiencies we cover. An example of one is the delivery of fast moving products by pallet. The pallet must arrive at the correct time and be loaded on the correct order. Then all that happens is that is it transferred in one movement from the delivery lorry of the individual supplier to the delivery lorry of one supermarket. When the latter reaches the store it simply drops the load that is for that particular brunch. Literally, the box has not been touched by human hand and costs have been cut, so allowing margins to be increased. Retailers has to be aware of the oligopoly in which they operate and how they maintain market share, barriers to entry and product differentiation.

(http://www.bized.ac.uk/dataserv/extel/notes/srev-th.htm)

4.MARKET

A. Word-Formation. Fill in the gaps with the corresponding forms of the word market:

1. The first step in developing a ___________ strategy is to understand your customers, enabling reaction to their changing needs and the changing dynamics of the ___________.

2. A good way to think of the favourable position in the mind of the consumer that ___________ are trying to influence is to consider what can be termed the 'perceptual or mental ladder.

3. We __________ goods and services for a special Sunday dinner.4. These decisions in _____________ organisations are made in the first place at the business level of strategy.

5. However, corporate objectives may simply represent the wishes of top management rather than reflecting ___________ reality.

6. These positions were plotted on two main dimensions: business strength and __________ attractiveness.

7. __________ segmentation can be thought of as a process where the market is broken up into smaller more defined ____________.

8. The second point highlights that segmentation is a necessary pre-requisite for target ____________.

B. Collocations. Match the noun marketing with the following words to form meaningful collocations: management, target, societal, manager, strategy, corporate, research, aggressive, concept, confusion._______________ marketing

_______________

_______________

_______________

_______________ marketing _______________

_______________

_______________

_______________

______________

C.Fill-in-the-gaps. Now fill in the gaps below with the collocations you found above:

1. However, if the _________ _________ is accepted as a guiding philosophy these conflicts can often be resolved.

2. In developing their functional strategy, marketers undertake the __________ __________ process.

3. Adopt an _________ _________ posture, namely selling, advertising, pricing, etc.

4. _________ _________ takes into account society's well-being.

5. Essentially, this process is undertaken in a formal sense when the __________ _________ develops the marketing plan.

6. The producers will try non-price tactics and might even introduce some __________ __________ to make us unsure of what the exact purchase price is.

7. _________ _________ usually involves formal studies that are undertaken to solve a particular problem.

8. Companies need to develop ethics of _________ _________ to ensure all their employees act in a manner which is considered moral.

9. Before a firm implements its _________ _________ it should determine targets (segments) and then select and act on those which offer the greatest opportunity for long term profit potential.

10. The second point highlights that segmentation is a necessary pre-requisite for __________ __________.

5.Collocations. Part one.

A.Match the words in the two columns below to form suitable collocations:

1. strategic

2. buying

3. distribution

4. direct

5. quality

6. disposable

7. consumer

8. active

9. basic

10. businessa) research

b) behaviour

c) buyer

d) channel

e) planning

f) marketing

g) income

h) strength

i) intent

j) control

B.Now match the collocations you found above with their corresponding definitions:

1. ____________________ the process of developing and maintaining a strategic fit between the organisations goals and capabilities and its changing marketing opportunities.

2. __________________ refers to the size, growth, share positioning, margins, technology position, strengths/weaknesses, image, environmental record and people of the organisation.

3. _____________________ customer whose latest purchase was made within the last 12 months.

4. _____________________ research aimed at expanding knowledge rather than solving a specific, pragmatic problem.

5. _____________________ a scale used to measure the likelihood that the respondent will purchase a product.

6. _______________________an ongoing analysis of operations, to verify goods or service meet specified standards, or to better answer customer/user complaints.

7. _____________________ the amount of money available to persons for spending or saving after taxes have been deducted. Also known as discretionary income.

8. ______________________ marketing efforts, in total directed toward a specific targeted group--direct selling, direct mail, catalog or cable--for soliciting a response from customer.

9. _____________________ an organized network of agencies and institutions which in combination perform all the functions required to link producers with end customers to accomplish the marketing task.

10. ____________________ the behavior of the consumer or decision maker in the market place of products and services. Library user behavior is often captured in library literature under use studies.

6.Collocations. Part two.A.Match the words in the two columns below to form suitable collocations:1. self

2. marketing

3. shopping

4. convenience

5. market

6. consumer

7. focus

8. store

9. target

10. marketa) demand

b) product

c) group

d) market

e) service

f) expenditure

g) mix

h) good

i) layout

j) area

B.Now match the collocations you found above with their corresponding definitions:

1. _____________________ the amount consumers spend on goods and services.

2. _____________________ a qualitative market research technique in which a group of participants (approx. 10) of common demographics, attitudes, or purchase patterns are led through a discussion of a particular topic by a trained moderator.

3. ______________________ a consumer good and/or service (such as soap, candy bar, and shoe shine) that is bought frequently, often on impulse, with little time effort spent on the buying process.

4. ______________________ the total volume of a product or service bought/used by a specific groups of customers/users in a specified market area during a specified period.

5. __________________ the blend of controllable variables that the firm/library uses to reach desired use/sales level in target market, including price, product, place and promotion- 4 P's.

6. _____________________the type of operation in which the customer/user is exposed to merchandise (browsing and self-selection) without assistance, unless customer/user seeks assistance.

7. _____________________ one that more time is spent selecting (browsing) than a quick convenience good.

8. ____________________ the interior layout of the store/library for the ease of user movement through the store to provide maximum exposure of good and attractive display.

9. __________________ the particular segment of a total population on which the retailer focuses its merchandising expertise to satisfy that submarket in order to accomplish its profit objectives.

10. ____________________ a geographical area containing the customers/users of a particular firm/library for specific goods or services.

7.PRICE

A.Decide which of the following verbs collocate with price: worked, collapsed, declined, dropped, drifted down, spread, slowed down, escalated, fell, fluctuated, jumped, kept/remained steady, faded, outstripped, plummeted, plunged, ranged fromto, survived, recovered, rose, shot up, varied, retailed, went through the floor/roofB.Find below some phrasal verbs that can be used with PRICE. Match the verbs with their corresponding particles:

1. agree

2. arrive

3. force

4. haggle

5. mark

6. push

7. put

8. worka) out

b) on/to

c) over

d) at

e) down/up

f) up

g) up

h) down

8.BRAND

Match the following types of brand with the right definition.

1. brand equity

2. brand extension

3. brand management

4. brand personality

5. brand positioning

6. brand image

7. brand leader

8. brand loyalty

9. brand namea) the systematic and continuous process of building and sustaining the long-term competitive advantage of a brand.

b) feelings and opinions that a buyer has about a particular named product

c) the net value the brand adds to a product; its measured by the customers willingness to buy in the future and pay a premium price; It is all about building enduring, profitable brand-customer relationship

d) how we position our offerings in the mind of the customer.

e) the outward expression of a brand as if it were a person

f) a new product or service that is related to an existing brand but offers a different benefit and/or appeals to a different target segment.

g) name of a particular product or group of products, or a service that is recognised by customers

h) willingness of a customer to keep buying the same named product or group of products

i) the best-selling product in a particular category

9.Synonyms. Read the following text about corporate objectives and find words which mean the following:

1. roughly

2. exigencies

3. upholding

4. functions

5. circumscribing

6. exhibiting7. insufficient

8. discontented

9. lessening

10. inventiveness

11. well-being

12. attainable

Corporate Objectives

Objectives are the end results to be achieved. In this context the term corporate objectives has been used broadly to cover the objectives for an organisation as a whole and for each business unit as a part of that whole.

Performance objectives consist of the financial requirements for the organisation and other key result areas, which are critical for the organisations short-term and long-term success. These include profitability, return on investment (ROI) return on assets (ROA), earnings per share (EPS), dividends and cash flow. They are usually determined on the basis of satisfying the needs of the stakeholders, which includes shareholders and others who might have a stake in the business such as management, employees, customers, suppliers and creditors. The driving force underpinning financial performance in the majority of cases is shareholder value. If the organisation performs well financially, share prices are maintained or increased. If financial performance is below expectations, share prices drop, limiting the organisations ability to attract equity financing to underwrite future operations and growth while also exposing the organisation to the danger of a takeover. Poor financial performance, particularly cash flow, also limits an organisations ability to attain debt financing (borrowing).

However, the use of financial performance objectives alone is a dangerous preoccupation for top management. Shareholder value can be enhanced in the short term by cost-reduction strategies such as downsizing and the reduction of product quality. In the long term this might cause customers to become dissatisfied with the organisations products or services, which in turn could lead to a loss of market share, reduction of profitability and eventual decline in share price.5 That is, a focus on short-term shareholder value can lead to the diminution of customer value with a resultant loss of competitive advantage and a decrease in long-term financial performance. In order to provide a broader perspective of the organisations direction a number of non-financial performance objectives should be included as either corporate or business objectives: improvement in innovativeness, improvement in operational efficiency, improvement in product quality, improvement in customer satisfaction, social responsibility and employee welfare.

All of these objectives can be translated into specific, achievable and measurable objectives. For example, the 3M Company sets a corporate performance objective based on innovation whereby each business unit is expected to achieve 30 per cent of its revenue from products introduced in the past four years.

(http://www.nelson.com.au/reed)

I. READING COMPREHENSION

1.Read the following text about the impact of advertising on consumers:

Advertising and the Mind of Consumers

by MAX SUTHERLAND and ALICE SYLVESTERImage advertising

The buying of cars, appliances, vacations and other high-priced items are examples of high-involvement decision- making. This high level of involvement contrasts with the low level brought to bear on the purchase of products like shampoo or soft drink or margarine.

The effect of image advertising is easier to see in relation to high-involvement products, so let us start with a high-involvement example Volvo cars.

Between 1970 and 1990, Volvo focused its image advertising on safety. Through repetition, it built up a strong image for the Volvo as a safe car. On a scale of 1 to 10 for safety, most people would rate Volvo higher than almost any other car. 0.

1.. This is often not perceptible after just one exposure because the change, if it occurs, is too small for us to notice.

Now lets take a low-involvement product category-hair spray and examine its history of brand image advertising.

The first brands of hair spray originally fought for market share on the basis of the attribute of hair holding. 2 To the extent that they all claimed the same thing, they were what we call me-too brands.

To break out of this, one brand began to claim that it holds hair longer. Just as Volvo claimed that it was safer, and thereby moved Volvo up higher up the perceived safety scale, so this brand of hair spray made people aware that some brands of hair spray might hold hair longer than others. 3..

4 ...... The new brand claimed that it was long holding, but also that it brushes out easier a dual benefit. In doing so it successfully capitalized on the fact that hair sprays that hold longer are harder to brush out (or were until then). Many years later, came the attribute of flexible hold.

These examples of image advertising for hair spray and cars illustrate how one effect of advertising is to alter our perceptions of a brand. Advertising can marginally change our image of a brand by leading us to associate it with a particular attribute (like longer holding or brushes out easily), and to associate the brands in our minds with that attribute more than we associate it with any other competitive brand.

User image

In advertising for Levis, Revlon, Coca-Cola, Calvin Klein, Dior or Gap, the focus is often on people who use the brand. What changes is not so much our perception, or image, of the product as our perception of the user-stereotype the kind of person who typically uses the brand, or the situation in which the brand is typically used.

When these brands are advertised, the focus is very much on image but often with this important, subtle difference. The advertising aims to change not how we see the brand itself-the brand image-but how we see:

the stereotypical user of the brand -the user image;

the stereotypical situation in which the brand is used.

If the user image of a brand resembles us, or the type of person we aspire to be, what happens when we come to buy that product category? The user image acts as a feather on one side of the beam balance. 5.. (but note, only if everything else is about equal).

6... But they can nevertheless tilt the balance in favor of one brand. Minor effects such as these constitute much of the impact of advertising. Yet they are usually much more difficult for us as consumers to analyze introspectively, and we tend to discount them because they clearly fall well short of persuasion.

(http://aef.com/channel.asp)2. Choose the best sentence from below to fill each of the gaps in the text above. E.g. 0 C. Do not use any letter more than once. There is one extra sentence.

A. The next brand of hair spray to enter the market, instead of tackling that brand head-on, cleverly avoided doing battle on length of hold.

B. User, or situational, image changes usually fall short of the kinds of rational, heavyweight reasons that make perfect sense of any choice.

C. Safety is now an integral part of our perception of this brand.

D. One effect of image advertising, then, is to produce gradual shifts in our perceptions of a brand with regard to a particular attribute in Volvos case, safety (in other words, to effect marginal changes in our mental rating of the brand on that attribute).

E. That is, each brand claimed to hold hair.

F. If everything else is equal it can tip the scale

G. It then attempted to shift perception of itself on this attribute and marginally increase the mental rating consumers would give it on length of hold.

H. Gauging the effects image advertising has on us is made even more complex because these effects may not operate directly on the image of the brand itself.

3.Read the following text about audience attention and distraction in advertising

Attention and Distraction

by HERBERT JACK ROTFELDA lot of advertising seems to get attention but do little to sell a product. Many people think that if they have the audience's attention they have done the job. However, an attention-getting device that is unrelated to the message will not attract readership or viewers interested in what the advertiser has to say. At best, the audience will remember the device and not the message. This loss of focus on the audience and message makes for a lot of misdirected advertising.

In one of his advertising reviews for Advertising Age, Bob Garfield once noted that there are two things that could be done by a fool with a lot of money: (1) run for president promoting some crackpot idea, even though you have no charisma or intellectual appeal; or (2) mount an elaborate advertising campaign, featuring expensive celebrities with no connection to your product whatsoever. His point was that no one would ever be so foolish as to undertake the expensive and humiliating effort of the first but, amazingly, many business owners will quickly go after the latter. "As we have said repeatedly, celebrities are seldom used in support of an advertising idea; they're used in place of an advertising idea."

This is not to say that celebrities should never be used in advertising. Many decades ago, George Lois's ads for Maypo cereal had to fight the product's image as something just for small children. Since people saw it as something children would "outgrow," he used Mickey Mantle and other rugged sports heroes, crying "I want my Maypo." The star presenters' images were tied to the message. Maureen O'Hara, whose movie star image included her beautiful hair, appeared in advertising for Lustre-Creme Shampoo. A more contemporary good use of a celebrity in marketing is when Olympic winners are on the Wheaties box, because the cereal is "the breakfast of champions." A movie or television actor whose media-generated image is of a demanding person who is trusted might be a useful consumer-trusted presenter for an investment firm.

Unfortunately, many celebrities are used in advertising in a way that can only be a waste of money. In addition to the costs of hiring a good actor to take a part, the star celebrity also costs a high-priced premium for his or her appearance. But if the image of that star does not fit the advertising message, the audience will only recall the celebrity, not the product. In these cases, the advertising message costs more to make but does not improve its communications to the audience.

Bill Cosby's talent with children probably helped communicate the fun message of various Jell-O products. However, featuring William Bendix in advertising for the American Meat Institute four decades ago probably did more to promote his television program, "The Life of Riley," than it did to encourage people to eat more meat. Michael Jordan's championship image is a good fit for selling Gatorade or Nike shoes, but it is questionable as to whether his personal charm enhanced the images of MCI's long-distance service or McDonald's restaurants. Charles Barkley probably did not sell many Hyundais, though he certainly increased the cost of the advertising, and Chevy Chase did not enhance the appeal of Dollar Rent-a-Car.

Similarly, advertising that makes direct comparisons with competing brands also needs to take the consumers' mind set into account. Just because the other brand is a better seller or more famous does not mean that there is a value in making comparisons. A comparison advertisement is a good idea only if the compared brand is the target audience's standard for a quality product and the advertising message would show a consumer-desired benefit for which your brand is better. Lots of comparison advertising forgets this, using the better-selling brand for just the attention getting value, and having an audience that remembers only the competitor.

Entertainment values or outright humor can help a selling message. Federal Express' jokingly made strong illustrations of how deliveries "absolutely, positively have to be there overnight," turning the company into an icon of the reliable overnight delivery business. More commonly, irrelevant humor gets large numbers of people to watch the commercials or read the ads, but fails to encourage those people to buy the products or go to the stores. Audiences remember the joke, or the entertaining ad, but all too often they don't remember the sponsor or the advertised reasons given for them to become customers. As was repeatedly observed on numerous business news programs, the sometimes entertaining Internet company commercials on the 2000 Super Bowl, which cost millions of dollars per spot, did not generate an upswing in visitors to the sponsors' Web sites.

(http://aef.com/channel.asp)

4.Read the following statements and decide whether they are true or false, according to the text above:

1. By catching the audiences attention the advertiser is sure to always accomplish onlysuccessful advertising.

T/F

2. Well-known stars are not too often used to endorse an advertising idea. T/F

3. Sometimes there is much more to the profession of actors than acting. T/F

4. The costs of hiring star celebrities are always paid for by the impact of the ad on the public.

T/F

5. Consumers will not go for the competitors brand if your brand is high standard.T/F

6. A good joke is a good joke, but sometimes thats all it stands for. T/F

5.Read the following text about advertising tips:

Advertising Tips

by ELLIOTT BLACK

1. _________________ Research shows that it takes a minimum of three impacts to get any kind of recall for print advertising and five impacts for the prospect to take any type of action. One ad will not cut it. Repetition is essential.

2. _________________ Make certain the advertising medium used is the right one to reach your target. Advertise in several complementary mediums to expand your effectiveness. Explore other options such as theatre playbills, post card decks, billboards, direct mail, etc.

3. _________________ Do the unusual to get noticed. Advertise in a different section than your competition. Avoid the holiday advertising traffic jams. Include a special offer. Be creative with your message and graphics.

4. ________________ If at all possible, make the advertisement pro-active to get the reader/listener involved. A special offer can be a good inducement for response.

5. ________________ Construct the program to be end-user friendly. Minimise the steps necessary to respond.

6. _______________ Monitor the effectiveness of your advertising campaign. Track each media and each response to determine what seems to work and what doesn't. Do not over-react but set limits and make changes as necessary.

7. ________________ Deadlines for advertising occur with alarming frequency and, in most cases, far ahead of publication/air dates. Decide what your objectives are and put your plan in motion. It is best to write the Marketing Communication Plan down and not to just trust it to memory. It will also give you an opportunity to review it for consistency.

(http://www.embainc.com/articles/ad_tips.html)6.Fill in the gaps above with the following sub-headings:

a. Call for action

b. Plan early and often

c. Frequency is the key

d. Track your results

e. Make the response easy

f. Expand your reach

g. Cut through the clutter

7.Read the following text about misleading mailings:

Beware of Promises of Riches from Abroad

"Your name has come out as a winner!" "You have been identified as the sole and rightful recipient of [insert figure in thousands]". "Dear XXX. Your right to winnings of [insert figure in thousands] is hereby confirmed as fully eligible and pending".

It's every person's wish come true. You receive a mailing informing that you have won a large amount of money. Ideas of what you can do with it, immediately pop into your head. Holidays, cars, home improvements. Then you get to the bottom of your "winning notification letter" and you're asked to send off a fee to claim your winnings. And to boot, you find out that you're not, as you had initially believed the winner of the top prize, instead, you just have the right to enter a prize draw.

Does this scenario sound familiar? To hundreds, perhaps, thousands of you, it probably does. The Advertising Standards Authority (ASA), which is the body responsible for supervising the content of mailings (as well as other non-broadcast advertising), says that it receives hundreds of complaints a year about prize draw mailings; last year 7% of all the complaints that the ASA received (913 out of a total of 13,959) were from people who had been misled by mailings that they believed told them they had won thousands of pounds. The reality is that the ASA has never heard of anyone who has won money as a result of returning one of these mailings.

Two of the biggest culprits for sending out problematic prize draw mailings in the UK over the last year or so have been Friedrich Mueller and TV Direct Distribution, both of which are based overseas. Despite efforts by the ASA, in conjunction with its European counterparts and Royal Mail, to stop these companies from sending out misleading information, the complaints about their mailings have continued to pour in. The ASA has, therefore, decided to impose its ultimate sanction upon these companies and has asked the Office of Fair Trading (OFT) to consider taking action against the companies under the Control of Misleading Advertising Regulations. Friedrich Mueller and TV Direct Distribution now run the risk of prosecution, which could result in a hefty fine.

Friedrich Mueller and TV Direct Distribution are operators in one of the most difficult areas that the ASA polices - overseas mailings. It is often the case that the most problematic mailings that the ASA sees originate from abroad and it is much harder for the UK regulatory bodies to stop the distribution of mailings that originate from outside of the UK. The ASA works with Royal Mail and the OFT to try to stop these mailings in the UK. When the ASA encounters an advertiser who refuses to withdraw a problematic mailing, it asks Royal Mail to assist it in getting the mailing stopped. As an ultimate action, the ASA refers problematic advertisers to the OFT who can then take action in the courts.

The ASA also works with its European equivalents, through an organisation called the European Advertising Standards Alliance, to stop misleading mailings being sent from their country of origin.

However, the regulators need you to help them in their quest to stop these mailings. What can you do? Well, the next time that a letter arrives through your door promising you riches for a small "administration fee", follow the ASA's advice and bin it.

(http://www.asa.org.uk/index.asp)

8.Choose the correct answer to the following questions:

1. The "winning notification letter" you receive

a) informs you about the legal rights you have concerning a certain amount of money.

b) denies the fact that you have become rich overnight.

c) gives you advice regarding the windfall.

d) encourages you to claim your winnings.

2. The Advertising Standards Authority (ASA) is responsible

a) for the delivery of prize draw mailings.

b) for the supervision of non-broadcast advertising.

c) for the issuing of mailing authorisations.

d) for the hundreds of complaints about mailings.

3. The ASA decided to impose its ultimate sanction upon the culprit companies

a) because the complaints from overseas outnumbered those in Europe.

b) because the Control of Misleading Advertising Regulations imposed it.

c) as a result of the fact that the recipients of misleading information did not cease complaining.

d) because its European counterparts and Royal Mint requested it.

4. In order to stop the penetration of such mailings into the UK the ASA

a) will work hand in hand with the police.

b) can stop the distribution of mailings coming from abroad.

c) will assist the Royal Mint in its enterprises.

d) will have the culprits taken to court.

5. These mailings can be stopped if you

a) pay the small administration fee requested.

b) totally ignore them.

c) follow a certain course of action.

d) keep your door closed.

II. VOCABULARY PRACTICE

1.Match the following advertising-related words and expressions with their corresponding definitions1. bait-and-switch

2. consumerism

3. commercial

4. jingle

5. hard sell

6. puffery

7. sales promotion8. publicity9. skywriting 10. sloganeer11. soft sell

12. sponsor

13. plug

14. endorsement

15. hype

16. push a) to urge the purchase or use of a product

b) a person or organisation who provides money for a certain event, research, education, etc. to gain publicity and public approval

c) a person who invents or uses slogans

d) an indirect, subtle, and relaxed style of advertising or selling

e) a favourable mention intended to sell or promote sth

f) a statement given in support of a person or product

g) the act, process, or method of tracing words or designs in the sky with a visible chemical vapor released from an airplane in flight

h) any mention of a companys products that is not paid for

i) a sales tactic in which a seller attracts customers by advertising at a bargain price one item that is often out of stock, and then diverts their attention by encouraging them to buy another item at a higher price

j) the idea that the consumption of goods is beneficial to society or its economy

k) advertisement on radio, television or in a cinema

l) a catchy tune or verse that is easy to remember, used for radio or TV ads to advertise a product

m) an aggressive method or instance of selling or advertising; high-pressure salesmanship

n) excessive praise or flattery

o) a method or technique other than paid advertising by which a manufacturer can interest the public in a product.

p) an instance or practice of exaggeration or extravagant techniques used to sell or promote

2.Now fill in the gaps below with the above words and expressions:1. He disliked Christmas for its extreme _____________.

2. In advertising, ___________ means exaggerated commendation, or ___________. The term comes from the Old English word pyffan, meaning to blow in short gusts or to inflate; make proud or conceited

3. TV viewers appeared immune to conventional _____________; and a plethora of new media options based on new technologies promised to reinvent the very process of advertising.

4. This commercial would not be this good if the _____________ going with it were not so catchy!

5. The _____________ generated by the court case has given a welcome boost to our sales. 6. Sellers should not be allowed to use the _______________ tactics because it tempts buyers buy an undesired product at a higher price.

7. Who is the reputable _____________ who created this ad?

8. For most of us, ______________ conjures up a less than pretty picture. You might even go so far as to say it smacks of intimidation, of someone trying to sell something we wouldn't buy unless we were talked into buying it.

9. The training brochure deliberately adopts a________ ________ approach by tying to gently persuade the customers to buy the new brand of 10. Clients trimmed their ad budgets, and many turned to more cost-effective _________ _________ alternatives, such as coupons, direct mail, and direct marketing.

11. ___________ is done at an altitude of about 10,000 feet where it can be seen for about twenty miles in all directions. 12. That interview was just a way for him to __________ his new book.

13. We ____________ our product with good marketing

14. They paid $2 million to the world champion for the ____________ of the new aftershave.

15. Most advertising is paid for by ____________.3.Read the text below about media planning and use the words on the right, listed 1-12, to form a word that fits in the same numbered space in the text. E.g. 0 strategicMedia Planning

A media strategy specifies the means for achieving the media objectives. A 0_______________ decision is how to allocate the media budget 1_______________ ; that is, deciding in which markets to advertise and how much to spend in each of these markets. In making these decisions, the media 2_______________ is guided by past sales and market shares of a brand in different markets as well as future 3 ______________ .Category and brand development indices are often used for these purposes. A 4 ______________ media strategy allocates more money in a market where sales are high, whereas an 5 _______________ strategy allocates more money in a market where 6______________ are low but there is potential to grow. Media class strategy refers to the 7______________ of the budget to different media classes. Budget allocation in media classes focuses on matching media audiences with the target audience in addition to 8____________ considerations. For instance, television may be the best media class if both audio and video are present in a commercial, while magazines may be more effective if detailed copy is required. The third strategic decision involves 9_______________ scheduling over a campaign period.

10_______________ refers to advertising on a regular and constant basis throughout the campaign period. Flighting means advertising intermittently, a period of advertising followed by a period of no advertising at all. Pulsing is a 11 ______________ both continuity and flighting, periodically building high levels of advertising on the top of lower yet continuous levels of advertising. The 12_____________ of sales often guides scheduling of advertising.

(http://www.asa.org.uk/index.asp)0. STRATEGY

1. GEOGRAPHY

2. PLAN

3. EXPECT

4. DEFEND

5. OFFEND

6. SELL

7. ALLOCATE

8. CREATE

9. ADVERTISE

10. CONTINUE

11. COMBINE

12. SEASON

4.Read the following text about the advertising communication process. For each gap 1-10 write one word against the corresponding number. There is an example at the beginning: 0 source.

Source Dimensions: The Sponsor, the Author, and the Persona

by William F. ArensIn oral communication, the source is typically one person talking to another person or a group. But in advertising, who is really the 0 .. of the communication? The sponsor named in the ad? Certainly the real-world sponsor is legally 1 .. for the communication and has a message to communicate to actual consumers. But as the model shows, the 2 .. from sponsor to actual consumer is a long and 3 one.

To begin with, the sponsor does not usually 4.. the message. That is the typically role of the sponsors ad 5 or other specialists. So the author of the communication is actually a copywriter, an art director, or, most often, a creative group at the agency. 6. by the sponsor to create the advertising message, these people exist in the real world but are completely invisible to the

reader or 7 , even though they play a key role in composing the text and the

tenor of the message.

At the same time, within the text of the ad resides some real or imaginary spokesperson (a persona) who 8 . some voice or tone to the ad or commercial. To the consumer, this persona, who represents the sponsor, is the source of the within-text message. But the personas 9 is composed and crafted by the ads authors 10. for the purposes of the text; it is not a part of real life. It exists only in the virtual world of the ad.

(http://aef.com/channel.asp)

5.Read the text below about the impact of technology on advertising and fill in the gaps with the missing words:

The Global Interactive Age

by William F. Arens

In the last 15 years, expenditures by advertisers worldwide increased rapidly thanks to improved economic conditions and a desire for expansion. The importance of advertising in individual countries depends on the nations level of development and national attitude toward promotion. Typically, advertising 1. ________ are higher in countries with higher personal incomes.

While the Communist countries once condemned advertising as an evil of capitalism, Eastern European countries now encourage private 2 . __________ and realize the benefits of advertising. Even China appears to have inherited the capitalist sensibility of Hong Kong.

The explosion of new technologies in the last decade has affected advertising considerably. With cable TV and satellite receivers, viewers can watch channels devoted to single types of programming, such as straight news, home shopping, sports, or comedy. This shift transformed television from the most widespread of mass media to a more specialized, narrowcasting 3.____________. Now small companies and product marketers that appeal to a limited clientele can use TV to reach audiences with select interests.

A concurrent change is the growing presence of VCRs and remote controls, which allow

4. ____________ to avoid commercials altogether by channel surfing during breaks or simply zipping through them when watching a previously recorded show. Advertisers have tried placing commercials on rented videos, but the 5. __________ has yet to take hold, perhaps because viewers can still zap them.

Computer technology has also had a huge impact. Personal computers, modems, e-mail, and electronic bulletin boards give advertisers new media for reaching 6. ___________ customers. Now even the smallest companies can maintain computer databases of customers names to integrate their marketing campaigns.

But whats in store is even more dynamicthe global information highway, and with it an interactive revolution. Advertising is evolving into a two-way medium where consumers with PCs, modems, CD-ROMs, and cable TV can choose the information they 7._____________ and then spend time researching the product information they desire. With interactivity, rather than zipping or zapping commercials, people actually seek them out. And this is a revolutionary way for advertisers to reach consumers. Agencies now have the opportunity to prove once again that advertising creativity is not about winning awards but about helping marketers sell things.

Advertising has come a long way from the simple sign on the bootmakers shop.

Today it is a powerful device that announces the availability and location of products, describes their quality and value, imbues brands with 8. ____________, and simultaneously defines the personalities of the people who buy them. More than a reflection of society and its desires, advertising can start and end fads, trends, and credossometimes all by itself.

In turn, advertising is 9. ___________ by the very technology used to convey its message.

In the past it was always a monolog. But today its evolving into a dialog. The medium and the message have become virtually 10. ___________.

The endless search for competitive advantage and efficiency has made advertisings journey in the last 100 years fascinating. Now companies are realizing that their most important 11.___________ is not capital equipment, or research capability, or their line of products. In the 12._________ competition of the global marketplace, their most important asset is their customer and the relationship they have with that person or organization. Protecting that asset has become the new marketing 13.___________ for the 21st century. In an effort to do a better job of relationship marketing, companies are now learning that they must be consistent in both what they say and what they do. Its not enough to produce outstanding 14. ___________ anymore. They must integrate all their marketing communications with everything else they do, too. Thats what integrated marketing communications really means. And that will present exciting new challenges to advertising 15. __________ in the years ahead.

(http://aef.com/channel.asp)

a) imperative

b) access

c) personality

d) expenditures

e) heated

f) shaped

g) professionals

h) advertisingi) potential

j) asset

k) inseparable

l) trend

m) viewers

n) medium

o) enterprise

6.Match the following words and expressions about types of advertising with their corresponding definitions:

1. consumer advertising

2. business advertising

3. local (retail) advertising

4. regional advertising

5. national advertising

6. international advertising

7. print advertising

8. broadcast (electronic) advertising

9. out-of-home advertising

10. direct-mail advertising

11. product advertising

12. non-product (corporate or institutional) advertising

13. commercial advertising

14. non-commercial advertising

15. action advertising

16. awareness advertisinga) advertising for products sold in one area or region, but not the entire country

b) advertising directed at foreign markets

c) newspapers, magazines

d) outdoor, transit

e) radio, TV

f) aimed at people who buy the product for their own or someone elses use

g) promotes the sale of products and services

h) promotes the organiztions mission or philosophy rather than a specific product

i) advertising aimed at customers in several regions of the country

j) advertising by businesses whose customers come from only one city or local trading area

k) sponsored by or for a charitable or nonprofit institution, civic group, or religious or political organization

l) attempts to stimulate immediate action by the reader

m) promotes products, services, or ideas with the expectation of making a profit

n) attempts to build the image of a product or familiarity with the products name and package

o) advertising sent

p) aimed at people who buy or specify products and services for use in business

7.Now fill in the gaps in the text below choosing the right type of advertising found in the left hand column of the table above:

Much of the advertising we see daily in the mass mediaTV, radio, newspapers, and magazinesfalls under the broad category of 1. . Usually sponsored by the producer (or manufacturer) of the product or service, these ads are typically directed at consumers, people who buy the product for their own or someone elses personal use.

Companies use 2 . to reach people who buy or specify goods and services for business use. It tends to appear in specialized business publications or professional journals, in directmail pieces sent to businesses, or in trade shows. Since business advertising (also called business-to-business, or BTB, advertising) rarely uses consumer mass media, it is typically invisible to consumers. However, some business-to-business ads, by computer manufacturers and firms like FedEx, do appear on prime-time TV and in consumer magazines.

Distribution affects the type of advertising used. Global marketers like Coca-Cola, IBM, and Kodak may use 3 . , in which messages are consistent in ads placed around the world. Other firms may promote their products in foreign markets with 4 . , which may contain different messages and even be created locally in each geographic market.

Companies that market in several regions of the United States and use the major mass media are called national advertisers, and their promotion is called 5 . . Some companies sell only in one part of the country or in two or three states. They use 6 .. , placing their ads in local media or regional editions of national media. Finally, businesses and retailers that sell within one small trading area typically use 7 placed in local media or direct mail.

To promote their goods and services, companies use 8 . .

To sell ideas, though, organizations use 9 .. . A Citgo ad for its gasoline is a product ad. So are ads for banking, insurance, or legal services. But a Citgo ad promoting the companys mission or philosophy (how the company protects the environment while drilling for oil) is called nonproduct, corporate, or institutional advertising.

Similarly, while commercial advertising seeks profits, 10 . is used around the world by governments and nonprofit organizations to seek donations, volunteer support, or a change in consumer behavior.

Some ads are intended to bring about immediate action by the reader; others have a longer-term goal. The objectives of 11 .. , for example, are to create interest in, and an image for, a product and to influence readers or viewers to select a specific brand the next time they shop.

A direct-mail ad, on the other hand, exemplifies 12 because it seeks an immediate, direct response from the reader. Most ads on TV and radio are awareness ads, but some are a mixture of awareness and action. For example, a 60-second TV commercial may devote the first 50 seconds to image building and the last 10 to a local phone number for immediate information.

(http://aef.com/channel.asp)

8. ADVERTISE

A. Fill in the gaps below with the appropriate forms of the word advertise:

1. If you want to expand your effectiveness you should __________ in several complementary mediums. 2. I found that people had got hold of some bright coloured cards that had been designed for ___________ purposes.

3. It now fell to the lot of young ___________ to arouse the interest of the public.

4.His experience in ___________ writing was now to stand him in excellent stead.

5. Have you read the job ___________ (UK informal) in todays paper?

6.An ___________ is an advertisement in a newspaper or magazine designed to look like an article by the writers of the magazine.

B.The word advertising can combine with different words to form meaningful word combinations. Pre- or post-position the following nouns to obtain suitable collocations: point-of-sale, transportation, column, manager, word-of-mouth, department, consumer, direct mail, effectiveness, product, spending, staff, readership, television, corporate, audience and then make up sentences of your own.

______________ advertising

______________

______________

______________

______________

______________

______________

______________advertising _____________

_____________

_____________

_____________

_____________

_____________

_____________

_____________

C. Decide which of the following verbs collocate with advertisement: lift, run, draft, display, devise, wind up, place, tailor, lead, write, expose sb to

9.Read the following text about advertising slogans:The Art & Science of the Advertising Slogan

by TIMOTHY R. V. FOSTER A slogan should be a statement of such merit about a product or service that it is worthy of continuous repetition in advertising, is worthwhile for the public to remember, and is phrased in such a way that the public is likely to remember it.

The purpose of the strapline (slogan, claim, endline, signature, etc.) is to leave the key brand message in the mind of the target. It is the sign-off that accompanies the logo. It says "If you get nothing else from this ad, get this...!"

Slogan Characteristics

A perfectly formed tagline should have as many of these characteristics as possible:

it should be memorable; it should recall the brand name; it should include a key benefit; it should differentiate the brand; it should impart positive feelings for the brand; it should reflect the brand's personality; it should be strategic; it should be campaignable; it should be competitive; it should be original; it should be simple; it should be neat; it should be believable; it should help in ordering the brand; it should not be in current use by others; it should not be bland, generic or hackneyed; it should not prompt a sarcastic or negative response; it should not be pretentious; it should not be negative; it should not be corporate waffle; it should not make you say so what? or "ho hum"; it should not make you say "oh yeah??"; it should not be meaningless; it should not be complicated or clumsy; you should like it.

A slogan should be memorable

Memorability has to do with the ability the line has to be recalled unaided. A lot of this is based on the brand heritage and how much the line has been used over the years. But if it is a new line, what makes it memorable? I suggest it is the story told in the advertisement - the big idea. The more the line resonates with the big idea, the more memorable it will be. 'My goodness, my Guinness!', as well as being a slick line, was made memorable by the illustrations of the Guinness drinker seeing his pint under some sort of threat (perched on the nose of a performing seal, for example). It invoked a wry smile and a tinge of sympathy on the part of the audience at the potential loss if the Guinness was dropped.

If it is successful, ideally the line should pass readily into common parlance as would a catchphrase, such as 'Beanz meanz Heinz' or ''Where's the beef?'

In addition to a provocative and relevant illustration or story, alliteration, coined words, puns and rhymes are good ways of making a line memorable, as is a jingle.

Let's look at some examples of these:

Alliteration

Jaguar: Don't dream it. Drive it.

Coined words

Guinness: Guinnless isn't good for you. Puns

Tic Tac Candy Tic Tac. Surely the best tactic.

(www.adslogans.co.uk)

A.Synonyms. Find word which mean the following:

a) worthiness

b) formulated

c) salient

d) dull

e) corresponds with

f) smoothg) placed

h) touch

i) saying

j) arresting

k) bestows

l) rouse

B.Antonyms. Now find words which mean the opposite of the following:

a) inadequately

b) counterfeit

c) detest

d) broken

e) questionable

f) limitedg) countermand

h) honest speech

i) gain

j) strenuously

k) nonessential

l) favourable

I. READING COMPREHENSION

1.Read the following text about the strategic role of finance:

Finances Strategic Role

The goal is to heighten finances strategic role while avoiding net losses and extraordinary charges.

By JOHN S. McCLENAHEN

Finances days as the unimaginative keepers of accounts payable and receivable and the narrowly focused controllers of costs are numbered. In the gathering global quest to create greater corporate value, CFOs, comptrollers, treasurers, and the thousands of other folks in finance and accounting are having to change not only the ways they look at business, but the ways they do business as well.

For example, such traditional corporate performance measures as ROE (return on equity) and EPS (earnings per share) are being relegated to second-class status as metrics such as EVA (economic value added), MVA (market value added), and CFROI (cash flow return on investment) become managements primary tools.

"People are realizing that you cant sell short your long-term future purely for the sake of hitting a certain quarters earnings-per-share," observes Chris Weidenhammer, a former Ford Motor Co. product manager whos now a principal at the George Group, a Dallas-based manufacturing consulting firm.

The new economic-value tools, says an approving Peter F. Drucker, enable executives to view the entire enterprise and to redeploy assets to generate the greatest yield. For the same reason, Drucker applauds the reintroduction of economic-chain accounting to U.S. industry in such firms as Ford and Corning Inc. Invented in America nearly a century ago and employed today by Japans largest exporters, economic-chain accounting overcomes traditional cost accountings inability to square factory performance and the impact of manufacturing changes on the entire business by allowing executives "to see the total costs and their yields through the entire economic process from supplier to ultimate consumer," Drucker stresses.

Significantly, too, as performance metrics and accounting methods are being substantively changed, the corporate quest for greater value creation, the drive to globalize, and the emergence of high-tech information exchanges called shared service centers are altering the traditional command-and-control structure of finance and accounting. Rigidity is out and hybrids of centralized and decentralized activities are in. Sophisticated systems permit the processing of sales, inventory, and other essential data to be consolidated even as a companys operating units around the world are gaining greater access to the numbers and being able to crunch them for local use.

As traditional practices are swept aside and conventional thinking is challenged, the bottom line is that finance and accounting people increasingly are active strategic partners in the fortunes of manufacturing firms in the U.S. and beyond its borders. Indeed, the world of the new manufacturing is also the world of the new finance.

Measuring Up

An international business landscape littered with acronyms is a dramatic illustration of how intense the corporate pursuit of value creation has become during the past half-decade. Smart marketers of performance measures have capitalized on rising demand, and a battle for clients rages, for example, between the folks who gave the world EVA and the people who came up with CFROI.

But, in part because its been so well promoted by Stern Stewart & Co., its New York-based developers, EVA is the most readily recognized of the new corporate-value metrics.

"It is now truly global," says John Ballow, a senior vice president at Stern Stewart who was introduced to EVA when he was working at Grumman Corp. in the early 1990s. Stern Stewart has worked with more than 300 companies in the U.S., Europe, Japan, Australia, New Zealand, Latin America, and South Africa. "We are dealing with companies that range from US$100 million or less to companies that are intergalactic in reach, like Siemens," Ballow states.

Drawing on data that already appear on the income statement and balance sheet, such firms as Atlanta-based Coca-Cola Co., Siemens AG, and Singapore Technologies Marine Ltd. do the basic EVA calculation by subtracting operating costs and the costs of capital from sales revenues.

By gathering "all the pluses and minuses of a decision into one measure," the unique arithmetic gives managers a superior tool with which to make (often-tough) tradeoffs, boasts G. Bennett Stewart III, senior partner and cofounder of Stern Stewart.

Roberto C. Goizueta, Coca-Colas late chairman and CEO, liked to tell a story about EVA and the decision to switch to cardboard soft-drink concentrate shipping containers from stainless steel, Stewart relates. The reusable stainless steel containers that sat on Cokes balance sheet were written off very slowly, something that helped to increase profit and profit margins. In contrast, shipping concentrate in single-use cardboard containers would raise unit cost and reduce profits and the profit margin -- but it would require very little investment of assets. The containers could be "expensed," written off immediately.

"If you run the EVA calculation, you find that the freeing up of assets on the balance sheet by switching to cardboard saves you a capital charge that overcomes any shrinkage in profit that you might incur," Stewart explains.

Ballow, his Stern Stewart colleague, asks, "Whats wrong with [doing a better job of] managing that capital?"

Indeed, senior financial officers of U.S. manufacturing companies believe that managements increased focus on leveraging and managing assets is one of the major benefits of economic value analysis, reveals a 1996 Manufacturers Alliance study. The Arlington, Va.-based trade associations study showed also that 33% of the responding companies had adopted some economic value performance measure -- and that another 10% were evaluating one. A more recent Sibson & Co. study of major U.S. manufacturers shows nearly half -- 49% -- using economic-value measures for business planning and financial management.

(http://www.industryweek.com/CurrentArticles/asp/articles)

2. Choose the correct answer to the following questions:

1. According to Peter F. Drucker the reintroduction of economic-chain accounting is benefic because it ...

a. carries on tradition in cost accounting.

b. helps senior managers appraise the economic process.c. attracts Japanese employees.d. brings down costs.2. The most significant alterations brought to the traditional structure of finance and accounting consist in ...

a. the emergency of introducing high-tech information programmes.

b. the rigidly centralised activities.

c. the elaborate data processing systems.

d. the setting up of several operating units all over the world.

3. Finance and accounting people struggle more and more to...

a. bring together tradition and convention.

b. work out solid financial strategies for manufacturing companies.

c. travel and work abroad.

d. sign firm contracts with manufacturing firms.

4. Coca Colas decision to switch to cardboard containers was preferred to the reusable stainless steel containers because....

a. cardboard containers were lighter.

b. stainless steel containers could not be labelled properly.

c. the book value of cardboard containers could be reduced to zero instantly.

d. cardboard containers was a safer investment.

5. The number of US manufacturers considering economic value performance measures....

a. has been on the increase.

b. is strictly monitored by the Manufacturers Alliance.

c. represents as much as 10% of the responding companies.

d. has dwindled.

3.Read the following text about financial resolutions

10 Financial Resolutions for the New Year

A Practical Guide to Putting Your Life on Track for Success

1. ______________________ Have a clear, concise financial goal for the year. It isnt good enough to say, I want to have my credit card paid down and more money in the bank. Instead, you should say, I have the balance on my credit card paid down to $0, over $5,000 in my savings account, and an IRA containing 50 shares of Coca-Cola.

2. _____________________ Make a list of your liabilities and organize them by the annual interest rate. Those with the highest rates [most likely your credit card debt] should be paid off immediately. It does no good to invest money while you are paying 19%+ each year. In a lot of cases, the wisest course of action is to sell any certificate of deposits, savings bonds or other cash holdings and use them to pay the balance. Why? If you owe $10,000 on your credit card and pay 19% interest annually [$1,900 per year], while at the same time, own a $10,000 certificate of deposit at a bank, paying you 4% interest [$400 a year], you would actually save yourself $1,500 a year by paying the debt!

3. _____________________ If you haven't done so already, open an individual retirement account [or IRA for short]. Your financial planner or accountant should be able to tell you whether a Traditional or Roth IRA is better for your specific needs. Both offer important tax advantages that can add up to a lot of money by retirement.

4. _____________________ Automatic savings plans are now offered for everything from brokerage accounts to savings bonds. Simply call your broker and tell them you want a certain amount of money withdrawn from your checking or savings account each month, on a certain date, and deposited into your investment account. This way, you are forced to save because the cash is drawn directly from your bank before you can get your hands on it. Investors can often sign up for ASP's through a company's direct stock purchase plan. In these instances, the money is withdrawn and used to purchase additional shares of stock in the particular company. The United States government offers a similar service to those interested in investing in savings bonds.

5. _______________________ Banks and financial institutions charge fees for everything under the sun. Is it really necessary to have several credit or checking accounts? Although there are exceptions, in the vast majority of cases the answer is a firm no! To put things into perspective: imagine your bank charges you $8 each month for your checking account. In thirty years, that $8 will have added up to more than $8,500 after taxes!*

6.______________________ Most people can name at least one thing they are truly passionate about. One of the ways to enjoy your work is to only do the things you enjoy. Find a way to turn your passions and hobbies into profit. The world is full of amazing jobs such as full-time ice cream tasters and video game testers!

7._____________________ Any time you make purchases with cash, only spend whole dollar amounts. If you go to the grocery store and your ticket comes to $67.39, pay $70 in cash and pocket the change. The first thing you should do when you go home is throw the money in a large container [empty Culligan water jugs are perfect]. If you absolutely adhere to this policy and dont spend any of the change, you are likely to save several thousand dollars over the course of a year. Use the money to pay down debt, buy stocks and bonds, or go on vacation.

8. ____________________ Ive said this before and Ill say it again; one of the most effective ways to realize the value of money is to give it away. The next time you get your paycheck, take 5% of your salary in cash [the greenbac