自编商务英语阅读教材.docx
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自编商务英语阅读教材
商务英语精度/阅读教材
●THEMARKETINGMIX:
THEFOURPS
●TYPESOFPRODUCTS
●ADVERTISING
●INTRODUCTIONTOCOMPANIES
●ACCOUNTINGANDFINANCIALSTATEMENTS
●FUNCTIONSOFGLOBALFINANCIALSYSTEMANDTHEFINANCIALASSETS
●BASICPROCEDURESOFEXPORTBUSINESS
●COMMONTYPESOFBANKS
●GETTINGPAIDWHENSELLINGOVERSEAS
●BACK-TO-BACKLETTEROFCREDIT
●LETTERSOFCREDIT-ADVISEDVS.CONFIRMED
●WHATDOESREDCLAUSELETTEROFCREDITMEAN?
●STANDBYLETTEROFCREDIT
●BUYCIFORBUYFOB
●EXPLANATIONSOFSOMEFOREIGNTRADEDOCUMENTS
●HOWTOREADCANDLESTICKCHARTS
●ALOOKATPRIMARYANDSECONDARYMARKETS
●MUTUALFUNDS
●THEECONOMISTEXPLAINS
●WHATISQUANTITATIVEEASING?
●THEEUROPEANDEBTCRISIS:
ABEGINNER’SGUIDE
●WHATISTHEEUROPEANDEBTCRISIS?
●MORTGAGEBASICS
THEMARKETINGMIX:
THEFOURPS
Thevarietyofsmallermarketsegmentswithintheconsumerandbusinessmarketisenormous,andthefirmthatisgoodattargetmarketingwillhaveavaluableedgeoveritscompetitors.Butidentifyingthemarketisonlypartofthetask.Theotherbasicelementinanytotalmarketingprogramisthemarketingmix.
Themarketingmixcanbedefinedastheblendofproduct,price,promotion,andplacement(ordistribution)thatsatisfiesthedemandsofthechosenmarketsegment.ThefourPshavetofitcloselytogether.And,asweshallsee,thekeytoeffectivemarketingistheabilitytoadjusteachofthefourfactorsinresponsetothedemandsofthetargetmarket.
Product
Abusinessperson’sfirstmarketingdecisionconcernstheproductsorservicesthatwillattractcustomersinthetargetmarket.Thekeyistodetermineconsumers’needsandwantsandtranslatethemintodesirableproductsandservices.Risingcrimerates,forexample,havecreatedatargetmarketamongsmallbusinessesforagrowingnumberofsecurityservices.Similarly,therapidincreaseinthenumberofworkingwomenhasinspiredclothingmanufacturerstoincludemorehigh-pricedladies’suitsintheiroverallproductmix:
manywomenhavediscoveredtheyneedto“dressforsuccess”justthewaymendo.
Changingconditionsrequirethecontinuousreevaluationofproductlines.AtProcter&Gamble,alertexecutivessawrisingdetergentcostsasathreattocontinuedhigh-volumeusageoftheirproductsinthehomeandaddedtotheirlistofproductsanumberofcloth-substitutepaperproducts,includingPampersdisposablebabydiapers.PampersnowoutsellP&G’sTidedetergent.Inaddition,P&Ghasrespondedtotherisingcostsofrawmaterials,suchascoconutoil,byreformulatingbarsoapsandotherproductswithmuchlessexpensiveoils.Inthesteelindustry,increasedimportshaveconvincedU.S.Steel,Armco,andNationalSteel,amongothers,tobeginentirelynewbusinessesinchemicals,insurance,andbanking.
Afterpickingtheproductstobedevelopedbusinesspeoplemakeothermarketingdecisionsabouteachone.Theseincludeselectingabrandname,designingapackageandestablishingaproductguarantee.
Price
Havingmadethebasicdecisionsabouttheproductline,themarketingmanagermustdecidehowthecompanyshouldpriceitsproducts.Perhapsapolicybasedonlowpriceswillincreaseprofitstothegreatestpossibleamount.Supermarketshaveusedthistacticsuccessfullyontwolevels.Mostofferunbranded.so-calledgenericproductsatthelowestpriceandoffertheirownbrand,usuallyataslighthigherprice,inadditiontothehighest-pricecommercialbrands.Ontheotherhand,thedesirabilityofsomeproductsdependsonahigh-qualityimage,whichahighpricehelpstoconfer.CurtisMathesbrandtelevisionsareadvertisedasthe“themostexpensivetelevisionsetinAmerica.Andworthit.”
Promotion
Veryoftenthemostimportantdecisionamarketingmanagermakesishowthemanufacturershouldinformprospectivecustomersaboutitsproducts.Thisinvolvespromotion,whichincludesthesalesapproach.Somemarketingstrategists,likethoseatAvonProducts,maydecidetoemphasizedirectsellingandspendmostoftheirpromotiondollarstotrainandpaysalespeople.Others,likeproducersofsoapandheadacheremedies,promotetheirproductsthroughadvertising,primarilyontelevision.Departmentstoresalsospendheavilyonadvertising,buttheychoosenewspapersasthemosteffectivemedium.Thealternativesaremanyandthechoicemaydeterminethesuccessofamarketingeffort.
Placement
Thefourthelementinthemarketingmixisplacement(ordistribution):
howthemanufacturergetsitsproductstothecustomers.Transportationisthemajorfactorhere,butplacementalsoentailsdecisionsaboutdistributionoutlets.Tupperware,forexample,distributesdirectlytotheconsumerthroughitspartyapproach.Mostapparelcompanies,ontheotherhand,selltoretailers,whoreselltoconsumers.Somemanufacturersemploymultipleplacementsystems.ThustheWhirlpoolCorp.sellstheWhirlpoolbrandofappliancestodealersfordistributiontosalesoutletsanditalsomakestheKenmorebrand,whichitshipsdirectlytoSears.Searsitselfsellsthroughitsstoresandbycatalog.HartSchaffnerMarxmakessuitsandsportswearforindependentretailersbutalsomakesthemavailabletoconsumersthroughitsownretailstores,includingWallach’sandBaskin.Inshort,therearemanywaysofdistributinggoods.
TheRightCombination
Findingthebestmixofproduct,price,promotion,andplacementhasbecomeanincreasinglycomplextaskformostbusinesses.Marketingdirectorshavefoundthateventhemostsubtlechanges—intheshapeorcolorofpackaging,forinstance,orthewaytheproductisdisplayedinastore—canhaveadecisiveimpactonaproduct’ssuccess,quiteapartfromitsactualquality.Ineffect,youmayhavebuiltabettermousetrap,butunlessyoupackageitwell,setupgooddistribution,targetyouradvertisingappropriately,andofferagoodwarranty,theworldwon’tnecessarilytakenotice.
TYPESOFPRODUCTS
Aclassificationofproductsmustbemade,sothattheyaretobemarketedappropriately.Thisclassificationwilldeterminemanystrategiesforhandlingaproduct.Fromthephysicalpointofview,aproductmaybetangible,likeyourclothing,orintangible,likelifeinsurancepoliciesorsharesofstock.Thetangibleitemsareusuallycalledproductsorgoods,whiletheintangibleonesarecalledservices.Tangiblegoods,inturn,canbeclassifiedasdurableandnondurablegoods.
DurableGoods
Durablegoodshavephysicalqualitiesandusesthatpermitthemtolastarelativelylongtime.They’redesignedtobeusedupoveranextendedperiodoftimeandaremadeofmaterialsthatwilltakeconsiderablewearandtear.Forexample,youprobablyownsomedurablegoodsasacar,tapedeck,orTVsetthatshouldremainusableforseveralyears—oratleastuntilthewarrantyrunsout.Housesarebuilttolastthirtytofiftyyearsormore.Refrigeratorsandmattressesbothhavealifeexpectancyofabouttwentyyears,andqualityjewelry,silverware,china,andfurniturearefrequentlyhandeddownfromonegenerationtothenext.
NondurableGoods
Nondurablegoods,ontheotherhand,havephysicalqualitiesandusesthatcausethemtobeusedquicklyoronlyafewtimes.Inotherwords,they’remadetobeusedup.Food,flowers,oil,gasoline,cosmetics,batteries,paper,pencils,newspapersareexamples.
ConsumerGoods
Durablegoodscanbefurtherclassifiedaseitherconsumergoodsorindustrialgoods,eachofwhichrequiresadifferentsetofmarketingstrategies.Consumergoodsareusedbytheconsumerorhouseholdthatbuysthemandcomeinaready-to-useformthatcallsfornofurtherindustrialorcommercialprocessing.Onthebasisofhowmucheffortaconsumertakestoobtainthem,consumergoodscanbefurthersubdividedinto
(1)conveniencegoods,
(2)shoppinggoods,and(3)specialtygoods.
Conveniencegoodsaresoldtotheconsumerwhoseshoppingtimeislimitedandwhobuysthemoften,routinely,quickly,andinanyoutletthatcarriesthem.Examplesarecandybars,cigarettes,milk,bread,anddetergent.Thefirsttwooftheseareoftenimpulsegoods,boughtonsighttosatisfyaneedthatisstronglyfeltatthemoment.
Shoppinggoodsaren’tboughtveryoften,areboughtonlyaftertheconsumerhascomparedtheirfeatureswiththoseofcompetingbrands,andarefoundinonlyafewstoresinonearea.Thesegoodsusuallyhaveahigherunitpricethanconveniencegoods,andanindividualsalesperson,ratherthanacashier,maybeneededtosellthem.Examplesofshoppinggoodsareautomobiles,furniture,men’ssuits,ladies’wear,shoes,andmajorappliances.
Specialtygoodslikeprestigeautomobiles,photographicequipment,finejewelry,andhigh-fashionclothingandfurnitureareboughtbyconsumersafteraspecialshoppingeffort.Theyareboughtinfrequentlyandaregenerallyavailableonlyinexclusiveoutlets.They’reusuallyhigh-priced,butpriceisn’tthemainconsiderationofaconsumerbuyingthem.Aconsumerisoftenwillingtogooutofthewaytofindacertainbrand.Specialtygoodsprovethepointthatgoodsareoftenconsiderednotjustfortheirphysicalqualitiesbutalsofortheeconomicutility,egoenhancement,status,andsatisfactiontheycarrywiththem.Forexample,whenpeoplebuyanewcar,theymaywantitnotjustforbasictransportationbutalsoforstatusrecognitionorprestige.You’veprobablyfiguredoutthatthisclassificationofconsumergoodsisfarfromrigid.Itmaydifferaccordingtoabuyer’sintentorwishes.Asconsumers’incomesandbuyinghabitschange,oraspricesdrop,goodsshiftfromoneclassificationtoanother.Usuallytheyshiftdownward,fromthespecialtytotheshopping,orfromtheshoppingtotheconveniencegoodscategory.E.g.Televisionsetsandmicrow