II. Exercises on the Text:

3. Give English equivalents to:

Общее понятие маркетинга включает четыре момента; потенциальные покупатели; исследования по телефону, по почте; на уме покупателя; обследуемая группа покупателей; чего хотят немногие; очень подробные формулы; покрывать все издержки; такие постоянные затраты как рента и страхование; вычислить точку самоокупаемости; ключевая часть маркетинга; в средствах массовой информации; предприятия должны предвидеть.

4. Ask questions for these answers (work in pairs):

1. The total marketing concept involves four steps.

2. They are product, price, promotion and place.

3. Yes, it must.

4. Surveys by phone, mail, or personal interview can reveal it.

5. The product warranty card provides marketing information too.

6. It is price.

7. Variable expenses must be anticipated too.

8. A break-even point is the point at which income from sales equals fixed and variable expenses.

9. Promotion is a key part of marketing.

10. Advertising gives people reasons to buy products.

11. To sell products, businesses must anticipate «when» and «where» consumers will buy them.

5. Translate the following into Russian: The Major Marketing Functions

Marketing Activity	Description
Gathering information	Business firms collect information about the market to forecast potential sales
Buying	Before finished goods can be sold, they must be selected and purchased.
Transporting	Goods must be shipped to the place where they are sold.
Selling	Goods must be advertised, promoted and sold.
Storing	Business firms had more goods than they can sell in a single day. These must be stored until they are sold.
Financing	Cash or credit must be found to pay for the goods the business intends to sell.
Standardizing and Grading	«Standardizing» is establishing uniform specifications for a product or a service. «Grading» is classifying products by quality and size.
Managing risk	People in business risk loss if things fail to go as planned. Steps taken to limit these risks fall into this category.

III. Grammar Exercises

6. Write out these sentences putting the verb in brackets into the future tense:

1. The study of economics (to help) you to understand economic forces better.

2. Cleaning up the river (to require) a major effort, and considerable expense.

3. A change in the price of one item (to result) in a shift in the demand for a substitute.

4. An increase in production costs (to have) the opposite effect - supply (to decrease).

5. As long as supply and demand remain unchanged, the equilibrium of market price (to remain) constant.

7. Make the sentences (a) interrogative, (b) negative:

1. They will try to economize to get the most from what they have.

2. Economics will also help you to fulfill your responsibilities as a citizen in a democracy.

3. Economists will agree that unemployment is bad.

4. Entrepreneurs will try to run their businesses to earn the greatest profits.

8. Fill in the blanks with the verbs «can», «may», «must», «have to», «to be able (to)»:

1. Liquidity is a measure of the ease with which you ____ convert your savings to cash.

2. Since a society cannot have everything, it ____ decide which goods and services it will have now.

3. Americans ____ to own property for business purposes and use it to produce income.

4. Most producers ____ make more than one product.

5. Such systems ____ characterize isolated tribes or groups, or even entire countries.

6. Unable to compete with the Japanese, the company ____ to go out of business.

7. Any number of persons ____ contract to form a partnership.

8. You ____ earn the income to buy the things you want.

9. The number and value of things we ____ to buy depends upon the size of our income and how wisely we spend it.

10. Most of the time, we ____ to keep track of our expenditures so we ____ to meet our immediate needs.