Ex.3. Discuss the following statements.

1.I finally know what distinguishes man from the other beasts: financial worries. (Jules Renard).

2.Money is like manure. You have to spread it around or it smells. (John Paul Getty).

3.The safest way to double your money is to fold it over and put it in your pocket. (K. Hubbard).

4.If you want to learn the value of money, go and borrow some. (Benjamin Franklin).

5.Beware of little expenses; a small leak will sink a big ship. (Benjamin Franklin).

6.It is not the employer who pays the wages. Employers only handle the money. It is the customer who pays the wages. (Henry Ford).

7. Wealth — any income that is at least one hundred dollars more a year than the income of one`s wife`s sister`s husband. (Henry Louis Mencken).

8.Wealth is like sea-water; the more we drink, the thirstier we become; and the same is true of fame. (Arthur Schopenhauer).

 

Ex.4. Match the terms with the examples. It's not easy - some of the terms have close meanings.

1. tax relief 2. tax break 3.tax exile 4. dirext taxation

5. indirect taxation 6. tax avoidance 7. tax evasion 8.tax free

 

a. Ms Brown is British, but to save tax she lives in Monaco.

b. No tax is payable on winnings from the National Lottery.

c. From April 6th next year, theatres will not have to pay tax on profits below $20,000.

d. VAT

e. Ms Smith pays an accountant to find legal ways to reduce her tax liability.

f. income tax

g. Liability for capital gains is reduced by 7.5% for each year of ownership of the asset

h.Mr Jones made a profit of $1000,000 from selling a business, but didn't declare it.

 

UNIT 2.

Text. Read and translate.

COOLHUNTING

Coolhunting is a term coined in the early 1990s referring to a new breed of marketing professionals, called coolhunters. It is their job to make observations and predictions in changes of new or existing cultural trends. Coolhunting is often referred to as "Trend Spotting."

Coolhunters operate most notably in the world of street fashion and design. Many webloggers now serve as online coolhunters, in a variety of cultural and technological areas.

Coolhunters are found in many different places.

A coolhunting firm is a marketing agency whose exclusive purpose is to conduct research of the youth demographic. They then compile their data and produce reports detailing emerging and declining trends in youth culture as well as predictions for future trends. These reports are then sold to various companies whose products target the youth demographic. They also offer consulting services. Coolhunting firms often provide services for some of the largest corporations in the world.

Rather than outsourcing their market research, some companies opt for in-house youth culture marketing divisions. These divisions act in much the same way as a coolhunting firm but the reports and data collected remain within the company and are used solely to promote its products. A company will often prefer this form of coolhunting as a way to gain an advantage in the valuable youth market since the research conducted by coolhunting firms is available to anyone willing to pay for it.

Coolhunting is much more than simple market research because of the nature of the subjects. The teen and preteen market is often referred to as a "stubborn" demographic in that they do not respond well to blatant advertising and marketing campaigns targeted at them. Coolhunters therefore must be more stealthy in their methods of gathering information and data.

Focus groups

Focus groups, though quite obvious in their attempts at gathering information, are very popular among coolhunters as they provide direct insight into the thoughts and feelings of their target demographic. Coolhunters will typically gather a group of randomly selected individuals from their target demographic.

Depending on the nature of the study, the methods of the information-gathering during a focus group interview may be extremely broad, with questions relating to lifestyle and youth culture, or more specific, like comparing certain brands and determining which brands the group is most responsive to.

Participants in focus groups are usually rewarded for their participation, whether it be a cash amount, free products, or other rewards.

Undercover coolhunters

Coolhunters will often seek out individuals from within their target demographic who are regarded as leaders or trendsetters. They will then hire these individuals to be undercover coolhunters, who gather information secretly among their peers and report their findings back to their employers. This is a popular method of coolhunting as it provides insight into their target demographic within their natural environment.

Online Coolhunting

There are a wide variety of methods for conducting market research online. Popular examples are online surveys where upon completion, the participant will usually receive a prize or monetary compensation. Other times coolhunters will enter chatrooms and webgroups posing as an individual within the target demographic and gather information.

There are several consumer-oriented websites dedicated to coolhunting or trend spotting that are operated by trend consulting firms. These include Trendwatching.com, Wikitrend.org and Coolhunting.com

 

Ex.1 Look at the words in italic in each of the following sentences and choose the correct one.

1. We’re setting(устанавливаем) all the prices for next year except(кроме)/accept the new range which won’t be(не будут) ready(готовы) for another(другие) three months.

2. Can you remember /remind him to bring the comparative(сравнительные) costs.

3. After the confusion(неразибирехи) over the bank transaction, they have agreed(согласились) to waive(отказться) /wave charges(сборов).

4. These two companies have been in collision/ collusion(в сговоре) with each other on the price fixing issue(по проблеме фиксации цены).

5. We should use an alternative/ alternate pricing structure to the one we use now(к той мы используем теперь).

6. We’ve had(получили) an officious/ official letter to tell(говорила) us(нам) about the changes(изменениях) in export regulations.

7. When deciding on new prices you mustn’t lose(терять) sight/ site(место) of market behaviour.

8. Once(как только) they have agreed(договорятся) on the figures(c ценами) we can precede/ proceed(продолжить) with the costing.

9. Please insure/(застрахованы) ensure(гарантируйте) that only the most recent(новые) figures(цены) are included in the calculations.

10. When we are setting standards we allow(допускаем) 10% for deficient/ defective(бракованных) goods.

11. There must be a mistake in the calculations somewhere. These figures(цены) are just not credible(не достоверны) / creditable.(похвальны)

12. The cash budget must take seasonal(сезонные) /seasonable (своевременные) variations into consideration.

13. The consultant is being(преследуется) prosecuted (по суду)/persecuted(от уклонение) for tax evasion.(от уплаты налогов)

14. The management have now decided what measurement(измерение)/ measures(меры) to take to increase(увеличат) productivity.

 

Ex.2. War Idioms. There are a lot of expressions used in business which are borrowed from the army and from war. Here are some examples:

· We've gained ground (делать успехи) in the Japanese market. We now have a 20% market share, up from just 7% last year.

· I don't think we should withdraw the product because we have such a poor(небольшая) share of the market. Let's not give up without a fight(не сдаваться без борьбы). Let's try some other marketing strategies.

· Our sales team is doing badly against (на фоне) the competition(конкуренции). We may need to reinforce(укрепить) the team with some new recruits.

· In China, we've decided to join forces(объединить усилия) with a local company and set up a joint venture(создать совместное предприятие.

· After our last radio campaign, we were bombarded(засыпаны) with calls(звонками) to our customer lines(по нашей клиентской линии).

· The boss is very angry. It would be a good idea to keep your head down(не высовываться) for a few days.

· I've set my sights on being the next sales manager.(нацелился на то, чтобы следующим менеджером продаж)

· There isn't much money(нет большого количества денег) and Accounts and Marketing are having a big battle(большое сражение) over the advertising budget.

· He's always irritating(раздражает) the boss by being(будучи опаздывающим во встречи) late for meetings. He's his own worst enemy. (он себе худший враг)

· Our target(цель) this year is to increase sales by 10%.

· We need to capture (захватить) more of the youth market(рынка молодых)

· They were a casualty(жертвой) of the last recession.

· The workers are very unhappy and so are the customers.

· Taking over that company would be a real minefield(минное поле).