Communication 3 страница

ØQuestions for comprehension check-up and discussion:

1. What is a market?

2. Into how many types can markets be divided according to the character of concluded contracts?

3. How many types of markets are there according to their function?

4. What is a commodity market?

5. What is a stock market?

6. What is traded on foreign exchange markets?

7. What is the aim of the Exchange Rate Mechanism?

16. MARKETING AND PROMOTION

Lead-in:

1. storage – зберігання, склад

2. customer purchasing power – купівельна спроможністьпокупця

3. marketing research – маркетингове дослідження

4. promotion – просування товару

5. to persuade – переконувати

6. marketing mix – структура маркетингу

Marketing is an activity that includes different kinds of business dealings with the movement of goods and services from producer to consumer. It is a very complex process. It includes such activities as product planning, storage, buying, pricing, promotion, selling, traffic, distribution of ideas and research. The aim of marketing is to find out what the other person wants, then manufacture it for him. So marketing is the management function which organizes and directs all business activities involved in assessing and converting customer purchasing power into effective demand for a specific product or service so as to achieve the profit, target or other objectives set by a company. Those who produce must know what goods and services, where, for what prices, why, for what purpose their customers would like to buy. Marketing research in this respect helps producers very much. A marketer must determine what customer needs are. It’s done by way of market segmentation. Every market can be divided into segments or, in other words, into separate groups of consumers. First, there are demographic factors like age, income, educational background, occupation, size of family, type of home and neighbourhood, etc.

Then there are psychographic factors – the customer’s opinions and interests, hobbies, vacation spots, favourite spots, etc.

The ABC of marketing is the so-called Marketing Mix. It consists of 4 elements: product, price, place and promotion.

Place means the location of certain goods and services and their distribution.

Promotion includes all kinds of communications in marketing, say, advertising, sales, direct mail, free additions and fairs. The primary objectives of promotion are to inform consumers (potential customers) of the existence of certain goods, and services, to demonstrate their advantages and to persuade the consumer to buy them.

The third element of Marketing Mix is Product. It is often connected with research and development of a new product or service, testing it, searching the potential markets and introduction to the market.

Product is the most controllable of the 4 elements of Marketing Mix.

The most changeable element of all the 4 is Price. As prices rise, we can buy fewer things or only things of lesser quality; on the contrary, as prices fall, customers can buy more things or things of better quality.

ØQuestions for comprehension check-up and discussion:

1. What is marketing?

2. What is the aim of marketing?

3. What segments can every market be divided into?

4. What is the ABC of marketing?

5. What does Marketing Mix consist of?

6. What is promotion?

7. What is the most changeable element of Marketing Mix?

17.TYPES OF GOODS

Lead-in:

1. consumer products – споживчі товари

2. convenience goods – товари повсякденного попиту

3. shopping goods – товари попереднього вибору

4. specialty goods – товари особливого попиту

5. advertisements – рекламування

6. durable goods – товари тривалого користування

7. luxury goods – предмети розкоші

8. necessities – предмети першої необхідності

Nowadays most marketing specialists divide the consumer products, into three groups: convenience goods, shopping goods and specialty goods.

Convenience goods are the products that consumers buy quickly and often and that are readily available, low priced and heavily advertised. Usually they are inexpensive items like toothpaste, soda, razor blades. People use them every day and don't even think about their prices or brands. A very important role in buying this or that item plays a habit to a particular sort of food, brand of cigarettes or whisky, to some familiar shops or supermar­kets. But there exist some other goods the purchase of which requires more thought.

These are fairly important things that a person doesn't buy every day, like a new stereo, a washing machine, a good suit etc. These are shopping goods, products for which a consumer spends a lot of time in order to compare prices, quality and style. Various sources of information are consulted - advertisements, salespeople, friends and relatives.

People use a different approach when they shop for specialty goods, items that have been mentally chosen in advance and for which there is no acceptable substitute. These are things like Chanel perfume, M. Voronin suits, etc – goods the buyer especially wants and will seek out, regardless of location or price.

The English marketing specialists divide goods into almost the same subgroups, but name them normal, durable and luxury goods. Also they define the inferior goods which tend to be low-quality goods – for poor people. For low-quality goods there exist high-quality but more expensive substitutes.

It is also useful to distinguish necessities. All inferior goods are necessities; necessities, hovewer, also include normal goods. Poor people satisfy their needs for food and clothing by buying low-quality goods. As their income rises, they switch to nicer food and clothing.

Luxury goods tend to be high-quality goods for which there exist lower-quality, but quite adequate substitutes. As income rise the quantity of food demanded will rise but only a little. So food cannot be a luxury, but it is not an interior good either.

ØQuestions for comprehension check-up and discussion:

1. What groups do marketing specialists divide the consumer products into?

2. What are convenience goods?

3. What plays a very important role in buying goods?

4. What are shopping goods?

5. What are specialty goods?

6. What examples of specialty goods can you name?

7. What groups do English marketing specialty divide goods into?

18. ADVERTISING

Lead-in:

1. advertising – рекламування

2. mass media – засоби масової інформації

3. setting the objectives – настанова завдань

4. drawing up a budget – розробка бюджету

5. appeal – звернення, заклик

6. total expenditures – сукупні витрати

7. steady demand – постійний попит

Advertising is the act of making a product, a job vacancy, an event publicly known. It is a non-personal form of communication through paid means of information distribution with a clearly stated source of financing.

In business billions are spent on advertising. Products and services are advertised through mass media (including radio broadcast, television, newspapers and magazines), billboards, handbills, booklets and so on. In big business the whole army of specialists is employed in the field of advertising. They work out advertising programmes, provide means for advertising purposes, discuss and solve many advertising problems with the owner or manager of a company.

Making advertisement is a complicated five-stage process which includes such stages as setting the objectives, drawing up a budget, the appeal, the choice of means of information distribution and assessment of the results.

The objectives should be clearly stated, no matter whether it’s informing, persuading or reminding. Informing prevails on the stage of introducing a new product on the market. Persuading forms a special demand for a certain brand of products. Some persuading adverts tend to be comparative, i.e. they tend to show advantages of one brand over the other one of the same trade class. Comparative adverts are used to promote such categories of goods as deodorants, tooth paste, tires and cars. Reminding is important to make the consumer remember the product but not to persuade or inform.

The budget can be drawn up according to such principles as “on the level of competitors”, “out of certain objectives and goals”, etc. Any advertiser should keep in mind the four AIDA points – attention, interest, desire, action – consequent stages of the consumer’s response before buying.

The choice of means of information distribution depends on setting the following questions: stating the range of frequency and the impact of the advert, choosing a specific advertising means and the right schedule.

The economics of advertising continue to be subject to much discussion. It is true that the total expenditure on advertising is high. Most of it is spent on promoting “branded goods”. This is almost inevitable: if advertised goods were not branded, the buyer would have no guide to enable him to recognise in the shops the goods he has seen mentioned in an advertisements.

Unless goods were branded, no mass market could be created under modern condition and there would be no steady demand.

ØQuestions for comprehension check-up and discussion:

1. What is advertising?

2. Is advertising expensive?

3. How can products and services be advertised?

4. How many stages are there in making advertisement?

5. What is intorming advertisement?

6. What is persuading advertisement?

7. What is reminding advertisement?

8. What four AIDa points should any advertiser keep in mind?

19. EXHIBITIONS AND FAIRS

Lead-in:

1. fair – ярмарок

2. exhibition – виставка

3. scope – розмах

4. transaction – угода

5. order – замовлення

6. potential customer – потенційний клієнт

7. to pave the way – прокладати шлях

8. consolidation – укріплення

9. on the spot – на місці, відразу

10. participation fee – внесок за участь

Every year a lot of international, national and specialized fairs and exhibitions are held all over the world. The number of countries and companies who take part in them is growing from year to year and the scope of fairs and exhibitions is becoming larger.

Firms and companies are always eager to participate in them because they attract thousands of visitors, including many potential buyers. You will find no better chance for advertising your goods and making contracts and agreements with future customers. Exhibitions and fairs are a unique chance for establishing new markets because nothing else can cause your products or services to be known outside your region or country as well.

There are many advantages of fairs and exhibitions - making transactions, getting new orders, making contracts and agreements, advertising your products, contacting potential customers expanding your market and opening up new ones.

International fairs and exhibitions pave the way for the consolidation of friendship among countries and nations.

But there is a difference between an exhibition and a fair. At a fair you do not only exhibit your goods but also may sell it on the spot. At an exhibition you usually only exhibit, without selling directly - though every exhibition has a commercial center where one can make contracts and agreements for future supplies.

It is usually quite expensive to participate in a fair or an exhibition. The participation fee is often quite high. Next, you pay for the exhibition space - the greater the space is the more you pay. Then, you should prepare that space to exhibit your goods or services. That means installing a stand or a booth, which may cost quite a lot. Another expense is the booklets or brochures placed in your booth and on bulletin boards, advertising or giving information about your company and its products. Firms and companies try to make their own presentations during fairs and exhibitions, and often organize receptions. These presentations and receptions provide opportunities of contacting potential customers, advertising the products, and greatly stimulating contract-signing. But they are expensive. So international or country - wide exhibitions and fairs provide much greater opportunities.

ØQuestions for comprehension check-up and discussion:

1. Are exhibitions and fairs becoming popular from year to year?

2. Who participates in exhibitions and fairs?

3. Why are exhibitions and fairs a unique chance for new markets?

4. What is the difference between them?

5. How much does participation in exhibitions and fairs cost?

6. Have you (or your firm) ever participated in exhibitions or fairs?

20. MY SPECIALITY. ACCOUNTING AND AUDIT

Lead-in:

1. stockholders – акціонери, власники акцій

2. consumers and suppliers – споживачи і постачальники

3. performance of the company – стан, робота компанії

4. earnings and expenditures – дохід і витрати

5. payroll record – платіжна відомість

6. Ledger – головна книга, гросбух

7. to oversee – стежити

8. instigator of malpractice – підбурювач службового злочину

9. internal and external audit – внутрішній та зовнішній аудит

I am a student of the Faculty of Accounting and Finance at Donetsk State University of Economics and Trade and I am majoring in accounting. No doubt my specialty is in great demand nowadays, because accounting is needed in any society and is not confined to “capitalist” or “mixed” economies.

Our faculty trains specialists in the following specialities and specializations: “Accounting and Audit”, “Finance and Credit”, “Banking”. We study the following disciplines: the theory of book-keeping, book-keeping of foreign economic activities, accounting, analysis and audit in the sphere of national economy.

So, what specifically is accounting?

Accounting contains elements both of science and art. The important thing is that it is not merely a collection of arithmetical techniques but a set of complex processes depending on and prepared for people, because most accounting reports depend on people’s opinions. Accounting reports are prepared in order to help people make decisions.

It is difficult to find an all-inclusive definition but we can say that accounting is concerned with the provision of information in financial terms. Provision of information includes recording, classifying, summarizing, and interpreting of financial events and transactions.

Accounting information can be divided into two categories: financial accounting or public information and managerial accounting or private information.

Financial accounting provides information to external decision-makers: stockholders, creditors, customers, suppliers. As for managerial accounting it provides information for internal decision-makers (managers), who need this information to know what the performance of the company was like in the past and what can be done about making current and future decisions.

Book-keeping is part of accounting and it involves the recording of economic activities of the company. At the end of each period the information of Journals is introduced into the Ledger, that shows all the earnings and the expenditures of the company and on the basis of all the totals book-keepers prepare a Trial Balance.

Accounting documents include the following: sales documents (cash receipts, invoices), purchasing documents, payroll records, bank documents etc.

We must say that an auditor’s role is very often confused with that of an accountant. There are three main roles of auditors: they are responsible for overseeing a company’s finances, responsible for informing authorities of malpractice and they must track down the instigators of malpractice. There are internal auditors (accountants of the same company who evaluate the company’s financial records) and external, or independent auditors, who perform outside audit. Upon completion of the audit they submit a document called Auditor’s Report or Auditor’s Opinion.

In conclusion we can say that there are many challenges to representatives of the accounting and auditing profession, but the role of accountants and auditors in controlling a complex process of financial activities is really significant.

ØQuestions for comprehension check-up and discussion:

1. What is accounting concerned with?

2. How many categories can accounting information be divided into?

3. Is there any difference between managerial accounting and financial accounting?

4. What does book-keeping involve?

5. Can you give examples of the main documents that book-keepers have to prepare?

6. What are the three main roles of auditors?

7. Do you think the role of Auditor’s Report is important for the performance of any company?

21. MY SPECIALITY. FINANCE AND CREDIT

Lead-in:

1. municipal bodies – муніципальні заклади

2. Stock Exchange – Фондова Біржа

3. money circulation – грошовий обіг

4. cash flow – рух готівки, ліквідності

5. post-graduate courses – аспірантура

6. debt and equity – борг і власний капітал

7. financial losses – фінансові збитки, витрати

I am a student of Donetsk State University of Economics and Trade, and I major in Finance and Credit at the Faculty of Accounting and Audit.

My speciality is very popular nowadays because our country has stepped onto the road of the transition to the market-based economy.

Our faculty is one of the largest in our university and it trains specialists in the following specialities: “Accounting and Audit”, “Finance and Credit”, “Banking”.The majority of students of our speciality will be experts in the sphere of finance and credit.Graduates from our department must be ready to work in state, regional and municipal bodies, in the sphere of banking, stock exchange operations, financial and insurance companies and investment funds.

No doubt specialists in finance and credit must get a fundamental economic basis of knowledge, that is why we study economic theory, macro-and microeconomics, theories of money circulation, financial and credit system, investment activity, taxes and taxation.

We can’t do without deep insight into studies of the following processes: financial market operations, budgeting, planning, accounting and audit at different levels, cash flow management, financial institutions and financial markets operations, management of working capital.

Specialists in the sphere of finance and credit can apply to post-graduate courses or, if they want to find a challenging job in banks, stock-exchanges, big financial and investment companies, they have to meet all the requirements for financial specialists of present time.

Nowadays it is necessary to combine economics with studying of foreign languages, and first of all, English, because it is the language of international cooperation.

In our University we have an access to special literature in English, because our library provides a large collection of books, journals and other periodicals in Economics, Finance and Credit, Taxation.

Our Faculty is provided with its own computer classes and students have access to a wide range of statistical databases and software.

Students of our faculty are involved in a very wide range of research projects, international projects with our foreign partners. Those who complete the course successfully are qualified for a wide range of jobs and further courses.

A substantial number of students apply to post-graduate courses, others are employed by financial institutions, both private and state ones.

Generally speaking, the world of finance is challenging. To ensure a company’s long-term survival and prosperity, finance managers need to make decisions about obtaining, managing funds and controlling them.

That is why most organizations have financial managers, and financial departments responsible for financial operations.

The financial Manager should decide on the suitable balance of debt and equity – what mixture of debt and equity is best for the firm. Managing the working capital is necessary to ensure the performance of the company. Decisions on any basic questions of finance involve risks. That is why no firm can avoid some financial losses; efficient financial management can bring those losses to a minimum, thus maximizing the profits.

ØQuestions for comprehension check-up and discussion:

1. What are the disciplines that students of your speciality study?

2. What financial processes must you get an insight into?

3. Are there any prospects for students who are interested in academic research?

4. What do finance managers have to make decisions about?

5. Can you name the functions that financial departments perform?

6. What are the main questions concerning finance any company has to answer?

7. When is financial management in any company efficient?

22. MY SPECIALTY. BANKING

Lead-in:

1. money circulation – грошовий обіг

2. taxes and taxation – податкиі оподаткування

3. banking facilities – банківські засоби обслуговування, можливості

4. lending institutions – кредитні заклади

5. real estate – нерухоме майно, нерухомість

6. insurance services – послуги страхування

7. to transfer accounts – перевести рахунки

8. stocks and shares – акції та облігації

9. foreign currency transactions – валютні операції

10. travel insurance – страхування туристів

11. to lend money – позичати гроші

Everybody is interested is money, and bankers deal with it more than anyone.Banking is as old as money. The primary function of bankers was to match up those who had more money or capital than they needed to those who needed money or capital to realize their plans.This made money for bankers and helped expand the overall economy more rapidly.

Now banking is considered to be one of the most prestigious professions and that is why I decided to become a student of the Faculty of Accounting and Finance at Donetsk State University of Economics and Trade and to major in Banking.

Our faculty is one of the largest in our university and it trains specialists in the following specialities: “Accounting and Audit”, “Finance and Credit”, “Banking”.The majority of students of our speciality will be experts in the sphere of banking and finance and will work in state, regional and municipal banking and financial institutions.

No doubt specialists in banking must get fundamental knowledge, that is why we study economic theory, macro-and microeconomics, theories of money circulation, financial and credit system, investment activity, taxes and taxation, bank organization, banking facilities and services, types of banks, operations of financial and lending institutions.

We can’t do without deep insight into studies of the following processes: personal and commercial services in banking, trust services, cash management services, investment and real estate services, insurance services, credit facilities, new types of services in banks, pension schemes, customers’ needs surveys, etc.

Specialists in the sphere of banking can apply to post-graduate courses or, if they want to find a challenging job in banks and banking institutions, they have to meet all the requirements for financial specialists of present time.

Nowadays it is necessary to combine economics with studying of foreign languages because at present banks provide services connected with foreign currency transactions.

We have an access to special literature in English, because our library provides a large collection of books, journals and periodicals on all the subjects of the University’s profile.

Our Faculty is provided with its own computer classes and students have an access to the Internet facilities.

Members of our faculty are involved in a very wide range of research projects, international projects with our foreign partners.

Students who complete the course successfully are extremely well qualified for a wide range of jobs and further courses.

A substantial number of students can go to post-graduate courses, others are employed by financial institutions. If you are interested in further academic study, there are Master’s degree courses, post-graduate courses, where you can submit a dissertation.

Needless to say that the banking industry has changed greatly in recent years: banks have more customers than ever before, people have realized that having a bank account is a greater help in organizing their financial affairs.

Banks can offer their customers various services: from things like cashing cheques and looking after their savings to insurance, taxation and investment.

Banks are one of the most efficient financial organizations in the world and the higher your grade in the bank is the more responsibilities you have.You can start by preparing customers statements and learning to use accounting machines.Then you will get more personal contact with customers opening new accounts and transferring existing accounts throughout the country. Being a foreign clerk means that you will be dealing with foreign currencies, traveller’s cheques and travel insurance.

If you help customers to manage their financial affairs, you can act on their behalf to buy or sell stocks and shares.And finally, you can be involved in one of the bank’s major activities – lending money.

Дата добавления: 2015-11-14