BUSINESS ENGLISH 3

DICTIONARY (www.m-w.com)NURTURANCE: affectionate care and attention.DICTIONARY (www.m-w.com)OSTRACIZE: to exclude from a group by common consent.MANAGEMENTTO MANAGE 1. to control, to be in charge of a business or organisation, a team of people, a project;How many people do you manage?2. to use time, money, etc., in a sensible wayWe offer you a computer programme that helps you manage data effectively.MANAGEABLE (adj.)possible to deal with or controlThe debt has been reduced to a more manageable level.MANAGEMENTMANAGERA person who is in charge of running a business, a shop, a department, a project.MANAGERIAL (adj.)Connected with the work of a managerHe was appointed for his managerial skills.MANAGING DIRECTOR (MD U.K.)The member of a companys Board of Directors who is responsible for running the business on a daily basis.DIRECTOR (COMPANY DIRECTOR)One of a group of people who are chosen by shareholders to run a company and decide its policies.DIRECTOR GENERAL (pl. directors general)The head of a large organisation, esp. a public organisation.Expressions to be appointed as(a) directorA financedirectorTo becomeA marketingTo be electedA commercialTo be madeA productionA researchTo act as a directorA salesTo serve asAn actingdirectorTo step down asdirectorAn assistantTo resign asA deputyTo retire asMANAGEMENT1. the act of running and controlling a business or similar organisation;effective/good/ solid/strong managementbad/ poor managementday-to-day/general/overall/routine managementManagement methods/practices/skills/styles/ techniques2. the people who run and control the business or a similar organisation;The store is now under new management.junior/senior/top management

MANAGEMENT3. the act of running a particular part of a companys activities; the people who do this.In the conference room there is a meeting between senior HR management and employees representatives.4. the skill of dealing with controlling things or people.poor management of people/ a crisis in the companyMANAGEMENT BOARDA group of senior executives that are responsible for deciding on the way a company or an organisation is managed.Management by exceptionA style of management in which the senior managers give those below them as much authority to control a project as possible and only become involved if there is a problem or an unusual situation (an exception).Management by objectives (MBO)A style of management in which aims and goals are ret for the staff in order to direct their work and measure how well they do it.THE 4 MANAGEMENT FUNCTIONSPLANNINGDefining goals for future performance;Deciding on the tasks and resource use needed to attain them;ORGANISINGAssigning tasks;Grouping tasks into departments;Allocating resources to departments;LEADINGThe use of influence to motivate the employees to achieve the organisational goals;Creating a shared culture and values;Communicating goals to employees;Motivating employees;CONTROLLINGMonitoring the employees activities;Keeping the organisation on track towards its goals;Making corrections as needed.MANAGEMENT SKILLSCONCEPTUAL SKILLSManagers thinking, information, processing, planning.Strategic thinkingNecessary especially for top managers (decision-making, resource allocation, innovation)HUMAN SKILLS The ability to work with peopleRelating to people, motivating, facilitating, coordinating.Necessary for the management which work with employees directly (first-line managers)TECHNICAL SKILLSMastery of methods, techniques and equipment involved in specific functionsSpecialised knowledgeAnalytical abilityNecessary especially for lower management levels MASLOWS THEORY OF NEEDS

Frederick HERZBERGs MOTIVATIONAL & HYGIENE FACTORSMOTIVATORS- achievement- recognition- work- responsibility- advancement- personal growthHYGIENE/MAINTENANCE FACTORS- status- security- relationship with subordinates, peers and supervisors- personal life- salary- work conditionsDouglas McGREGORs X / Y THEORYTHEORY X (AUTHORITARIAN MANAGEMENT STYLE)THEORY Y (PARTICIPATIVE MANAGEMENT STYLE)The average person dislikes work and will avoid it.Most people must be forced (CONTROLLED) to work towards organisational objectives.The average person prefers to be directed, to avoid responsibility and wants security above all else.Effort in work is as natural as work and play.People accept and even seek responsibility.People must be given authority to achieve organisational objectives. (EMPOWERMENT)

LEVELS OF MANAGEMENTTOP (LEVEL) MANAGERS / SENIOR MANAGERS / EXECUTIVESAt the top one or two levels in an organisationPOSSIBLE TITLES: CEO (Chief Executive Officer), CFO (Chief Financial Officer), COO (Chief Operations ), CIO (Chief Information Officer), Chairperson of the Board, President, Vice-President.They make decisions that affect the entire company.They do not direct the day-t0-day activities of the company, they set goals for the organisation and direct the company to achieve them.They need managerial experience.Some CEOs are hired from top management positions in other companies (HEADHUNTING)They may be promoted from within and trained by COACHING and MENTORING.

LEVELS OF MANAGEMENTMIDDLE (LEVEL) MANAGERSPOSSIBLE POSITIONS: General Manager, Plant Manager, Regional Manager, Divisional ManagerThey are responsible for carrying out the goals set by top management.They set goals for their departments.They can motivate and assist first-line managers to achieve business objectives.They may also communicate upward, by offering suggestions and feedback to top managers.They may be promoted from first-line management or may have been hired from other organisations.LEVELS OF MANAGEMENTFIRST (LEVEL)/LINE MANAGERS / SUPERVISORSPOSSIBLE POSITIONS: Office Manager, Shift Supervisor, Department Manager, Foreperson, Crew leader, Store ManagerThey are responsible for the daily management of line workers (the employees who actually produce the product or offer the service).They are the managers that most employees interact with on a daily basis.In the past they were promoted from line positions (production or clerical jobs), now they need formal education and training.Gatherings of three or more people sharing common objectives where communication is the primary means of achieving those objectives.Play an essential role in an organisationA tool - to get decisions madeto spread informationto gather informationto generate ideasto review or evaluateto solve problemsto negotiate

MEETINGSInformation meetingsDecision-making meetingsBoard meetingsDepartmental meetingsTeam meetingsStaff meetingsWeekly meetingsAGMs (Annual General Meetings)EGMs (Extraordinary General Meetings)

Types of MEETINGAn EFFECTIVE meeting has:A clear purposeA list of points to discussA resultA report of what took place at the meetingIt must also use a minimum amount of time.MEETINGSTo arrangeTo organiseTo scheduleTo callTo runTo chairTo haveTo holdTo attendTo participate inTo take part inTo go toTo be present atTo postponeTo cancelA MEETINGWORD PARTNERSHIPS: MEETINGAGENDAA list of items to be discussed at a meeting.MINUTESAn official record of the proceedings of a meeting.CHAIRthe person who controls a meeting, also known as CHAIRMAN/CHAIRWOMAN/CHAIRPERSON.SECRETARYThe person responsible for the agenda and the minutes of a meeting.PARTICIPANTSThe people who attend a meeting.AOB (any other business)An item on the agenda which gives participants an opportunity to raise points that were not already included in the agenda.VOTEAn expression of opinion/preferences about a question raised.

KEY VOCABULARY: THE FORMAL MEETINGCHECKLIST for EVALUATING A MEETINGAn agenda is prepared and circulated prior to the meeting.Participants have the opportunity to contribute to the agenda.Advance notice of meeting time and venue is provided to those invited.Meeting facilities are comfortable and adequate for the number of participants.The meeting begins on time and has a scheduled ending time.The use of time is monitored throughout the meeting.CHECKLIST for EVALUATING A MEETINGEveryone has an opportunity to present his/her point of view.Participants listen carefully to each other.There are periodic summaries as the meeting progresses.No one tends to dominate the discussion.Everyone has a voice in decisions made at the meeting.The meeting typically ends with a summary of accomplishments.People will carry out any action agreed to during the meeting.Minutes of the meeting are provided to each participant following the meeting.THE ROLE OF THE CHAIRThe chair / chairperson is the leader of the meeting the person who controls the direction that it takes. He or she is responsible for:Introducing the agendaIntroducing the speakers, if appropriateRunning the meetingEnsuring that rules are followedEncouraging everybody to take partPreventing digressionsTimekeepingAchieving objectives of the meetingSumming up at the endSetting the date of the next meeting if necessary

ESSENTIAL LANGUAGE OF MEETINGSOPENINGSTARTING THE MEETINGGood , everyone. I think we should make a start.Right, shall we begin?OK, can we start now please?We have received apologies from [names of people who cannot attend.]INTRODUCING PARTICIPANTSId like to introduce our partners from Peru and Chile.PURPOSE OF THE MEETINGWe are here to discuss The purpose of this meeting is to What we want to do today is INTRODUCING THE AGENDADoes everybody have a copy of the agenda?You will see that there are points on the agenda.THE MINUTES OF THE PREVIOUS MEETINGCan we take the minutes as read? Proposed?Seconded?FIRST POINTNow, Id like to move on to the first point.The first item on the agenda is ASKING FOR CONTRIBUTIONSWho would like to start?Id like to ask Mr Wheeler to tell us Can we hear from Human Resources on that please?ESSENTIAL LANGUAGE OF MEETINGSHANDING OVER TO ANOTHER PERSONNow, over to you James.Mr Reid, would you like to take it from here?BRINGING OTHERS INJames, how do you feel about what Henrys said?George, have you got any comments on that?Would you like to add anything, Martha?CONTROLLING THE SPEAKERSSorry Rob, Ill have to stop you here.Mike, can you let Paula finish?We are moving away from the point here.Can you be brief?TIMEKEEPINGRight, that leaves us with about twenty minutes to discuss We need to move on now if we are going to get through everything.SUMMARIZING KEY POINTS DURING THE MEETINGThe main points we have looked at are So the issues weve looked at so far are ESSENTIAL LANGUAGE OF MEETINGSDISCUSSIONASKING FOR OPINIONSWhat do you think, Rob?Could we hear what Rowan has to say?Whats your view on this?GIVING OPINIONSI feel I thinkIt seems to me that It is clear that In my view, AGREEINGI agree. / I agree with John / with what John said.Thats right.Absolutely.DISAGREEINGI dont agree.Im sorry, I cant agree with that.Im afraid I completely disagree with you.That cant be right.INTERRUPTINGExcuse me, can I just say a word?Sorry to interrupt, butHANDLING INTERRUPTIONSCould you just let me finish?Ill come to that later.Yes, go ahead please.INDICATING THAT YOU ARE ACTIVELY LISTENINGYes, I see.Right.Mm, I understand.REFERRING TO OTHER SPEAKERSAs Patricia said, Going back to what Connor was saying, ESSENTIAL LANGUAGE OF MEETINGSENDINGSUMMING UPNow, to summarize whats been said, So, weve agreed to The decisions made here today are SUMMARIZING FOLLOW-UP ACTIONPaul will look into Before the next meeting we need to Carol, can you follow up the ?So, whos going to ?CLOSING THE MEETINGThats all for today.Lets finish there. Thank you for coming.ARRANGING NEXT MEETINGThe next meeting will be on (date, time).Ill be in touch about the date of the next meeting.What day would suit people for the next meeting? Can you check your diaries?AGENDAIt should be circulated in advance to the participants, offering them the opportunity to contribute to it.It should communicate the purpose of the meeting and the goal of each itemIt should include necessary, practical informationThe language should be clear and concise.RECOMMENDED ELEMENTS:Items to be handled, listed in proper sequenceMeeting adjournment timeTime of scheduled breaks, if necessaryThe leader of the meeting should have an approximate time allocation for each itemNotes on points to be clarifiedEquipment that may be required

AGENDA - structure1. title of the meeting / reason for the meeting2. date, time, location3. a list of those required to attend, usually in an alphabetical order (with officers first)4. apologies for absence (may be sent in advance / presented at the meeting)5. approval of the minutes of the last meeting6. matters arising (from the minutes / last meeting)7. correspondence received8. reports from the officers9. specific topics for discussion10. AOB (any other business)11. Next meetingadjournmentAGENDA

MINUTESMinutes should be written as soon as possible after the meeting, and circulated to the participants and anyone else affected by the content(usually within 24 hours). The person assigned to take the minutes notes down all the important points made at the meeting and later writes up a clear summary of what was said and decided.MINUTESLAYOUT (standard format)a. subject and date of the meetingb. list of participants (apologies, if necessary)c. summary of the chairs introductiond. summary of opinions and suggestions exchangede. action points decided upon, people assigned to each action and deadlines givenf. date and time of the next meetingMINUTESLANGUAGE STYLEQuite formalShort, clear, concise, readable sentencesSummarize only the most important pointsLong speeches must be summarized and for the main ideas use bullet pointsMinutes shouldnt be longer than one page, no matter how long the meeting was.MINUTES - Useful phrasesGIVING THE LIST OF PARTICIPANTSUse PRESENT: followed by the list.SUMMARISING THE CHAIRS INTRODUCTIONMr/Ms X opened the meeting with the following points: (+ bullet points)SUMMARISING A DISCUSSIONMr X was the first to speak / react/ contribute and put forward the following ideas: Mr Y agreed / expressed approval and added: Ms Z disagreed and argued: Mr X expressed disapproval / concern and insisted Ms Z accepted that but defended her position on . However, she conceded that Mr X agreed / offered / promised / refused / wanted (+ to infinitive)Mr Y denied / admitted / suggested / recommended (followed by the gerund)Ms Z advised / asked / instructed / reminded (+ object + to + infinitive)Everyone agreed on MINUTES - Useful phrasesACTION POINTS AND DEADLINESThe following action points were decided upon: Mr X will look into / research / draw up a list of / calculate / study by the end of next week.Mr Y will speak to before the 15th.Ms Z will come to the next meeting with Mr X will get back to / send a report to the Finance Committee within the next few days.

MEMORANDUM (MEMO)It originally meant a reminder or confirmation.A very common form of business communication used for a variety of messages exchanged between people working in the same organisation (in-company communication).It usually focuses on only one specific topic:CONVEYING INFORMATIONREQUESTING INFORMATIONGIVING INSTRUCTIONSRECOMMENDING OPTIONSMEMORANDUM (MEMO)LAYOUTHEADER: name of the person / people the memo is addressed to; name of the person / people sending the memo;dateinformation about the content of the memoIntroduction to the subject matterMain pointsConclusion, often recommending the action to be takenClosing (the initials of the person sending the memo)MEMORANDUM (MEMO)LANGUAGE STYLESThe opening is more direct and less formal than in a letter or email, with no greeting such as Dear .It starts with the introduction to the main points.The closing is generally just the initials of the sender.Memos are less formal than business letters the tone is neutral and the language simple.Short, clear sentences (not bossy though)Memos often conclude with a request for action.MEMO Useful phrasesGIVING INFORMATIONYou will be happy to hear I am / we are delighted to inform you I am delighted to be able to announce I would like to remind you that I have been recently been informed REQUESTING INFORMATIONI would like to have Could you provide me with ?If you have any questions, please MEMO Useful phrasesGIVING INSTRUCTIONSPlease read We / I kindly request Make sure that is permitted only RECOMMENDING OPTIONSIt is recommended that It is in the best interests of Having considered all the alternatives, I / we suggest

WORKING ACROSS CULTURESLECTURE 2: Metaphors of culture; The Hofstede Model; The Trompenaars Model; The Hall Model; The Mole ModelWhat is CULTURE?Gary Wederspahn: Culture is the shared set of assumptions, values, and beliefs of a group of people by which they organize their common life.

Geert Hofstede: Culture is the collective programming of the mind which distinguishes the members of one group from another.47What is culture for you?Towns (houses, traffic)Business (HIERARCHY: obedience/independence; STYLE: formal/informal; COMMUNICATION: written/oral)Physical (BODY LANGUAGE: gestures, facial expression; APPEARANCE: dress, features)Politics (GOVERNMENT: centralisation, bureaucracy; DEMOCRACY)What is culture for you?Routines (meal times, work times/schedules)Food and drink (acceptable/non-acceptable; times; PLACE: restaurant/home; importance)Language (SPOKEN: volume, speed, formality, jargon, politeness, dialect; WRITTEN: length, formality)Social life (class; gender; tradition; hospitality; FAMILY LIFE: old people, children; greetings; emotion)

DISCUSSION TOPICAn individual is a member of many different cultures.Metaphors of CultureICEBERGONION

Metaphors of CultureIf culture is like an iceberg, what is ABOVE THE WATERAT THE WATER LINEBELOW THE WATER?

If culture is like an onion, what are the different layers?The CULTURE ICEBERG

The CULTURE ONION

The CULTURE ONIONOther layers:GEOGRAPHICAL REGIONS (within a country)SOCIAL CLASSDEPARTMENTS within a companyWORK TEAMSONION LAYERS (inside outside)SelfFamilyGender/ageSocial class/ethnic groupRegion/countryUniversal human natureSelfTeam/departmentProfessionOrganisationNational cultureInternational business cultureCOMPANY DIMENSIONS organisational / corporate cultureDIMENSIONSEXTREME POINTS1. Image of leadera. Hierarchical / flat2. Company structureb. Formal / informal3. Planning perspectivec. normative, based on rules / pragmatic, depending on the situation4. Timing of activitiesd. long-term / short-term5. Basis for status in companye. Who you are / what you do6. Decision-making processf. Strong individual / leader of group7. Relationship with colleaguesg. Impersonal / personal8. Dress codesh. Sequential monochronic (one activity at a time) / synchronic polychromic (several activities at the same time)The HOFSTEDE MODEL1. THE POWER DISTANCE INDEX (PDI)2. UNCERTAINTY AVOIDANCE INDEX (UAI)3. INDIVIDUALISM/ COLLECTIVISM (IDV)4. MASCULINITY / FEMININITY (MAS)----------5. LONG-TERM ORIENTATION (LTO)1. POWER DISTANCEPDI measures how much a culture has respect for authority.In a HIGH POWER DISTANCE culture:it is acceptable for a supervisor to display authority;superiors rarely give their subordinates important work;If something goes wrong, the subordinates are usually blamed for not doing their proper job/role;managers rarely interact or socialize with workers;class distinctions are emphasized.1. POWER DISTANCEIn a LOW POWER DISTANCE culture:Supervisors are expected to treat employees respectfully;Subordinates may do important work, thus having the opportunity to get promoted quickly;If something goes wrong, the superior/authority figure is usually blamed for having unrealistic expectations or being to strict;Managers socialize and interact with workers more often.2. UNCERTAINTY AVOIDANCEUAI measures a cultures preference for strict laws and regulations over ambiguity and risk. Protestant and Chinese cultures rank relatively low; Catholic, Buddhist and Arabic countries tend to score high in uncertainty avoidance.In LOW UNCERTAINTY AVOIDANCE cultures:Risk is valued in business;Citizens are proud of their nation;Foreigners or minorities are encouraged to assimilate.2. UNCERTAINTY AVOIDANCEIn HIGH UNCERTAINTY AVOIDANCE cultures:Risk is avoided in business;Citizens are often critical of their nation;People tend to be more superstitious;Xenophobia is common and foreigners and minorities tend to be ostracized.

3. INDIVIDUALISM/COLLECTIVISMINDIVIDUALISMpromotes individual goals, initiative and achievement.results in a strong sense of competition.Each person is encouraged to stand out, be unique and express himself/herself.Individual rights are seen as the most important. Rules ensure independence, choices and freedom of speech.People are encouraged to do things on their own, to rely on themselves.3. INDIVIDUALISM/COLLECTIVISMCOLLECTIVISMemphasizes family and work group goals.Each person is encouraged to conform to society, to do what is best for the group and to not openly express opinions or beliefs that go against it.Group, family or rights for the common good are seen as more important than the rights of individuals.Rules promote stability, order and obedience.Working with others and cooperating is the norm. Everyone is expected to rely on others for support.MASCULINITY / FEMININITYMAS describes the degree to which masculine values (i.e., competitiveness and the acquisition of wealth) are valued over feminine values (i.e., relationship building and quality of life).In MASCULINE CULTURES:priorities are achievement, wealth, expansion and war;womens liberation = women begin to participate in male-dominated areas;a low number of women represented in politics and business;professionals often LIVE TO WORK (long work hours and little use of holiday time )MASCULINITY / FEMININITYIn FEMININE CULTURES:priorities are relationships, nurturance, environmental protection and quality of life;a high number of women in politics;arts and healing are more important than manufacturing and business;professionals WORK TO LIVE (short work hours and high use of holiday time)LONG-TERM/ SHORT-TERM ORIENTATIONLTO measures the degree to which the members of a national culture will postpone gratification to achieve long-term goals.APPENDIXRegioncountyINDIVIDUALISM COLLECTIVISMPOWER DISTANCEUNCERTAINTY AVOIDANCEMASCULINITYFEMININITYNORTH AMERICA (USA)individualismlowmediummasculineJAPANcollectivism and individualismhighhighmasculineCHINAcollectivismlowlowmasculine/feminineAFRICAcollectivismhighhighfeminineLATIN AMERICAcollectivismhighhighmasculineSOURCE: Nath, Raghu and Kunal K. Sadhu. Comparative Analysis. Conclusions, and Future Directions. in Comparative Management A Regional View. Raghu Hath (ed.). Cambridge, MA: Ballinger Publishing Company, 1988, p. 273.EUROPEINDIVIDUALISM COLLECTIVISMPOWER DISTANCEUNCERTAINTY AVOIDANCEMASCULINITYFEMININITYAnglo-SaxonindividualismlowmediumlowmediummasculineGermanicMedium individualismlowmedium/highmedium/high masculineBalkaniccollectivismhighhighmedium masculineNordicmedium/high individualismlowlow/mediumfeminineLatin Europemedium/high individualismhighhighmedium masculineEast SlaviccollectivismlowmediummasculineAPPLICATION1. EMPLOYEE RELATIONSHIPS2. MONOCHRONIC / POLYCHRONIC CULTURE3. GENDER4. TITLES5. BODY LANGUAGE6. PUNCTUALITY7. HIERARCHY8. LEADERSHIP9. HUMOUR10. TIME11. DIRECTNESS/INDIRECTNESS OF COMMUNICATIONIf a meeting is supposed to start at 9 oclock, then I think it should start at 9 oclock.Managers and unions? Its them and us. Youll never get the two sides to really work together.Everyone calls each other by their first names and I can walk into the office of anyone in the company.If I told a joke at the start of a presentation, people would think I was not serious about my job.I dont like people I dont know to stand too close to me.Just because someone has a doctorate, they dont have to insist that everyone calls them Doctor.I think its right for the boss to have another pay rise. After all, he takes the risks and makes the difficult decisions.I like to say exactly what I think and I expect other people to do the same.I tried to help one of the girls in the office into her coat and she got really angry!I tried to call this guy in Norway at 3 oclock on Friday afternoon and everyone in the office had gone home!I like to do one thing at a time. I cant stand people who start taking phone calls in the middle of meetings.Trompenaars and Hampden-Turners Dimensions of CultureUNIVERSALISM vs. PARTICULARISMCOMMUNITARIANISM vs. INDIVIDUALISMNEUTRALITY vs. AFFECTIVITYDIFFUSE vs. SPECIFIC CULTURESACHIEVEMENT vs. ASCRIPTIONHUMAN TIME RELATIONSHIP (SEQUENTIAL vs. SYNCHRONIC TIME)HUMAN NATURE RELATIONSHIP (INNER DIRECTED vs. OUTER-DIRECTED)Halls ModelHIGH-CONTEXT CULTURE vs. LOW-CONTEXT CULTUREMONOCHRONIC vs. POLYCHRONIC CULTUREHIGH-CONTEXT VS. LOW-CONTEXT CULTURESTend to prefer indirect verbal interactionare generally more proficient in reading non-verbal cuesRely more on context and feelingAvoid saying NOCommunicate in ambiguous messages, understand visual messages readily.E.G. Japan, China, Muslim countriesTend to prefer direct verbal interaction;Value individualism;Rely on logic;Says NO directly;Communicate in contexted messages, provide details, give authority to written information.E.G. North America, Western Europe (German, Scandinavian, English)MONOCHRONIC VS. POLYCHRONICInterpersonal relations are subordinated to schedule;Schedule co-ordinates activity; appointment time is rigid;Breaks and personal time are sacred;Time is inflexible and intangible;Work time is separated from personal time.Schedule is subordinated to interpersonal relations;Interpersonal relations co-ordinate activity; appointment time is flexible;Time is flexible and fluid;Work time is not clearly separable from personal time.MARKETINGMarket researchKey vocabulary for MarketingThe Marketing MixMARKET(ING) RESEARCHMarketing managers need to collect specific information about markets, and may commission market research companies to carry out these studies.Here are some terms that may appear when dealing with market(ing) research.MARKET RESEARCH: KEY TERMSA sample is a small part of the population, which is taken to represent the whole.A questionnaire is a set of questions used in a survey to find out about peoples opinions, behaviour and practices. Market research is often carried out through a focus group. A focus group is a number of people who take part in a carefully managed discussion, in order to provide data about attitudes and responses to products and services. Original data like this is called primary data, while information collected from periodicals, government publications, online databases and other sources is known as secondary data. Therefore, the main methods of research are field/ primary research and desk/desktop / secondary research, or quantitative and qualitative research. The results of the market research are known as findings, presented at the end of the research task.MARKET RESEARCH: KEY TERMSA sample is a small part of the population, which is taken to represent the whole.A questionnaire is a set of questions used in a survey to find out about peoples opinions, behaviour and practices. Market research is often carried out through a focus group. A focus group is a number of people who take part in a carefully managed discussion, in order to provide data about attitudes and responses to products and services. Original data like this is called primary data, while information collected from periodicals, government publications, online databases and other sources is known as secondary data. Therefore, the main methods of research are field/ primary research and desk/desktop / secondary research, or quantitative and qualitative research. The results of the market research are known as findings, presented at the end of the research task.MARKET RESEARCH: THE PROCESSSTEPS:Identify the problem or the opportunity and the research objectivesDecide on the research methods (field, secondary, qualitative, quantitative, focus group, survey, etc.)Decide on the research instrument (questionnaire)Choose contact methods (mail, telephone, Internet, personal interview)Collect dataAnalyse /mine dataPresent findingsMARKET RESEARCH: Designing a questionnaireIt is important to choose questions carefully, to consider the form, the wording and the sequence.Closed questions are designed to limit the number of types of answers that are given. Open questions allow the respondent to give opinions and reasons more freely.EXAMPLESQuestions designed to obtain a single answer:Do you buy your own magazines?YESNOWho do you live with?NOBODYFRIENDSPARENTSRELATIVESOTHER (please specify)EXAMPLESA scaled questionOffers statements with which the respondent can show the amount of agreement or disagreement, or that rates the importance of something, e.g. from poor to excellent. Teenage magazines are expensive. Select the response that is closest to your opinion:STRONGLY AGREEAGREENEITHER AGREE NOR DISAGREEDISAGREESTRONGLY DISAGREEEXAMPLESA prioritising questionAsks the respondents to rank certain points according to their personal preferences.Place the following in order of importance to you.PHOTOS OF MUSIC STARSLETTERS PAGECOSMETICS ADVICETRUE STORIESPROBLEM PAGEMAIN FEATUREADVERTISEMENTSEXAMPLESAn open questionasks the respondent to write freely on the subject, allowing for any opinions to be given that were not picked up earlier:What is your opinion of this magazine?Complete this sentence: What I like about this magazine isKEY TERMS IN MARKETINGADVERTISING: any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor.MARKETING: the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational goals.PROMOTION: the process of communicating with, and influencing, customers to buy a companys products. It involves creating a clear identity and image for a product and bringing the products benefits to the customers notice.PUBLICITY: involves attracting the publics attention but not necessarily selling anything specific. It is free of charge.PUBLIC RELATIONS: the deliberate, planned and sustained effort to establish and maintain mutual understanding between an organization and its public. Its main function is to build up a good image and reputation for the organization. KEY TERMS IN MARKETINGBRAND: a company or product name, term, sign, symbol, design or combination of these that identifies the offerings of one company and differentiates them from those of competitors.DIFFERENTIATION: the act of designing a set of meaningful differences to distinguish a companys offering something in return.END USERS: final customers who buy a product.PROSPECT: a party from whom a marketer is seeking a response whether it is attention, a purchase, a vote, etc. KEY TERMS IN MARKETINGNEED: a basic human requirement, i.e. food, air, water, clothing, shelter, as well as recreation, education and entertainment.WANT: a desire that occurs when a need is directed to specific objects that might satisfy that need: e.g., a hamburger is a want that might satisfy the need for food.DEMANDS arise when people both want a specific product and are willing and able to pay for it. CONCEPTSMARKETING CONCEPT: the belief that a company can achieve its goals primarily by being more effective than its competitors at creating, delivering, and communicating value to its target markets. It resides on four pillars:Identifying a target marketFocusing on customer needsCoordinating all marketing functions from the customers point of viewAchieving profitability.MORE CONCEPTSPRODUCTION CONCEPT: the belief that customers prefer products that are widely available and inexpensive.PRODUCT CONCEPT: the belief that consumers favour products that offer the most quality, performance, or innovative features.SELLING CONCEPT: the belief that companies must sell and promote their offerings aggressively because consumers will not buy enough of the offerings on their own.SOCIETAL MARKETING CONCEPT: The belief that a companys task is to identify the needs, wants, and interests of target markets and to deliver the desired satisfactions better than competitors do but in a way that preserves or enhances consumers and societys well-being.CUSTOMER NEEDS AND PRODUCTSSTATED NEEDS: what customers say they want, e.g., I need sealant for my window panes for the winter.

REAL NEEDS: what customers actually require, e.g., a house that is better insulated and therefore warmer during the winter.

UNSTATED NEEDS: requirements that customers dont happen to mention, e.g., an easy solution to insulating the house.

DELIGHT NEEDS: the desire for luxuries, as compared to real needs.

SECRET NEEDS: needs that customers feel reluctant to admit, e.g., some people may have a strong need for social status but feel uncomfortable about admitting that status is important to them.GOODS: physical offerings such as food, commodities, clothing, housing, appliances, etc.SERVICES: i.e., airline travel, hotels, maintenance and repair, and professionals (accountants, lawyers, doctors)EXPERIENCES: e.g., a visit to a theme park or dinner at the most popular restaurantEVENTS: e.g., the Olympics, trade shows, sports and artistic performancesPEOPLE: i.e. artists, musicians, rock bands, celebrity CEOs, and other high-profile individualsPLACES: cities, states, regions, nations that attract tourists, businesses, and new residentsINFORMATION: produced, packaged, and distributed by schools, publishers, Web-site creators, and other marketers IDEAS: concepts such as Donate blood or Stop household violence that reflect a deeply held value or social need MARKETING MIXPRODUCT decisions include quality, design, features, brand name, etc.PRICE decisions include price point, list price, discounts, payment periodPLACE decisions include channels of distribution, geographic coveragePROMOTION decisions include advertising, direct marketing, public relationsTHE 7 PsPEOPLE (PARTICIPANTS)PROCESSESPHYSICAL EVIDENCE

PRODUCTPHYSICAL DISTINCTIONS:FORM: size, shape, structureFEATURES: i.e. a word processing softwares new text-editing toolPERFORMANCE QUALITY: the level at which the products primary characteristics functionDURABILITY: the products expected operating life under natural or stressful conditionsRELIABILITY: the probability that the product will not malfunction or failREPAIRABILITY: the ease with which the product can be fixed if it malfunctionsSTYLE: the products look and feelDESIGN: the way all the above qualities work together (it is easy to use, looks nice, and lasts a long time)PRODUCTSERVICE DISTINCTIONS:ORDERING EASE: how easy it is for customers to buy the productDELIVERY: how quickly and accurately the product is deliveredINSTALLATION: how well the work is done to make the product useable in its intended locationCUSTOMER TRAINING: whether the company offers to train customers in using the productMAINTENANCE AND REPAIR: how well the company helps customers keep the product in good working orderBRAND IMAGEA good brand creates a strong brand image the consumer perception of what the product or company stands for. Brands can evoke:ATTRIBUTES: The car is durable.BENEFITS: With such a durable car, I wont have to buy another for years.VALUES: This company certainly emphasizes high performance.CULTURE: I like these cars because they reflect an organized, efficient, high-quality culture.PERSONALITY: This car really shows off my stylish side.USER: That looks like the kind of car that a senior executive would buy.Product Life Cycle cf. Kotler, 2001CharacteristicsMarketing ObjectivesMarket StrategiesProduct IntroductionLow sales, high cost per customer, no profits, few competitorsCreate product awareness and trialOffer a basic productUse heavy promotions to create trialProduct GrowthRising sales and profits, more and more competitorsMaximize market shareOffer product extensionsReduce promotion due to heavy demandProduct MaturityPeaking sales and profits, stable or declining number of competitorsMaximize profit while defending market shareDiversify brandsIntensify promotion to encourage switching to new brandsProduct DeclineDeclining sales, profits, and number of competitorsReduce expenditure and milk the brandWithdraw weak productsCut price, reduce promotionTHE BOSTON MATRIX

HOUSEHOLD GOODSCONVENIENCE GOODSFAST MOVING CONSUMER GOODSF.M.C.G.SHOPPING GOODS/CONSUMER DURABLESSPECIALITY GOODS/LUXURY GOODSUNSOUGHT GOODSPRODUCTSCONSUMER PRODUCTS/ GOODS

-INDUSTRIAL PRODUCTS

WHITE GOODSDRY GOODSBROWN GOODSPRODUCT: Key TermsTo refer to a companys products, as a group: PRODUCT CATALOGUE / MIX / PORTFOLIOTo refer to a companys products of a particular type: PRODUCT ITEM / MODEL / LINE / RANGE To refer to the way a company would like its products to be seen in relation to other / competing products: PRODUCT POSITIONINGPRODUCT PLACEMENTBRANDBRAND NAME:the name given to a product or a group of products as that it can be easily recognized.MAKE: the name of the company itselfMODEL: the particular type of productBRAND: COLLOCATIONSI.BRAND AWARENESS / FAMILIARITY / RECOGNITIONII.BRAND PROMISEIII.BRAND IMAGEIV.BRAND IDENTITYV.BRAND PREFERENCE / LOYALTY vs. BRAND SWITCHINGVI.BRAND EQUITYBRAND: COLLOCATIONSFrom the companys perspective:BRAND POSITIONINGBRAND DIFFERENTIATIONBRAND STRETCHING / EXTENSIONBRAND DILUTION

BRAND LEADER / FLAGSHIP BRANDBRAND XPRODUCT: Informal RegisterPLAIN VANILLA

A product lacking adornments or special features; basic or ordinary

BELLS AND WHISTLES

Innovative and flashy, but often unnecessary and confusing, features of a product

PRODUCT: COLOURSRED GOODS: Consumer goods, such as food products, that are consumed and replaced at a fast rate and have a low profit margin.

ORANGE GOODS: consumer goods, such as clothing, that will last for a period of time but will be replaced, at a moderate rate, because of wear and tear, desire to change, or change in season, or at the discretion of the consumer.

YELLOW GOODS: In merchandising, nonconsumable household goods, such as refrigerators or ovens, that are expensive and are usually replaced only after many years of service. Generally, yellow goods have a high profit margin.PRICE: COLLOCATIONSPRICEBOOM: prices are risingCEILING: the maximum level of a priceCONTROL:government effort to limit price increasesCUT/REDUCTION: a reduction in priceHIKE:an increase in priceLABEL/TAG: the label attached to goods showing the priceLEADER:a company that dictates price reductions or hikesWAR:when competing companies reduce prices in response to each otherTYPES OF PRICEFACTORY PRICECOST PRICE (SELLING PRICE = PURCHASE/PRODUCTION PRICE)CATALOGUE / LIST PRICEMARKET PRICE / RETAIL PRICE / CURRENT PRICE / SPOT PRICENET PRICE VS. CUT PRICE / DISCOUNT PRICE / BARGAIN PRICE

PRICE: UPMARKET & DOWNMARKETBASIC MODELSOPHISTICATED MODEL

ENTRY LEVEL / LOW-END /HIGH-END / TOP-END BOTTOM-END PRODUCTPRODUCTMID-RANGED PRODUCT

From basic products to high-end products:MOVE UPMARKETTRADE UPFrom sophisticated products to mid-ranged or basic ones:MOVE DOWNMARKET / DOWNSCALETRADE DOWNPRICE: MASS AND NICHE MARKETSMASS MARKET / MAINSTREAM MARKET:goods that sell in large quantities and the people who buy them

NICHE MARKET:a small group of buyers with special needs, which may be profitable to sell to.PLACE(MENT)DISTRIBUTIONLOGISTICSDELIVERYDISPATCHInvolves arranging for a product to pass from one business to another until it reaches somewhere, for example a shop /store, where people can buy it.Involves physically collecting, transporting and delivering goods.Involves giving the goods to the customer.Refers to the process of goods leaving a factory or office.DISTRIBUTION CHANNELSDIRECT (telemarketing, mail-order, catalogue shopping, online shopping, shop-at-home TV networks )INDIRECT (distributors, middlemen, resellers, dealers, wholesalers, retailers)

THE SUPPLY CHAINSupplies materials and parts

Supplies finished goods

WHOLESALERS (sell in large quantities)RETAILERS (sell to the public)RESELLERS (esp. for IT)

CONSUMERSBUSINESSESSHOPS / STORES / RETAIL OUTLETS / SALES OUTLETSCHAINSTOREPart of a group of shops, all with the same name

SHOPS / STORES / RETAIL OUTLETS / SALES OUTLETSCONVENIENCE STOREA small shop in a residential area, usually open long hours

SHOPS / STORES / RETAIL OUTLETS / SALES OUTLETSDEPARTMENT STOREA shop which has several specialized departments

SHOPS / STORES / RETAIL OUTLETS / SALES OUTLETSDEEP DISCOUNTERA supermarket with very low prices

SHOPS / STORES / RETAIL OUTLETS / SALES OUTLETSDRUGSTOREA shop in a town centre in the US which sells medicines; you can also have coffee and meals there.

SHOPS / STORES / RETAIL OUTLETS / SALES OUTLETSHYPERMARKETVery large shop with a wide variety of goods, usually outside of a town

SHOPS / STORES / RETAIL OUTLETS / SALES OUTLETSSUPERMARKETVery large shop selling mainly foodSHOPS / STORES / RETAIL OUTLETS / SALES OUTLETSSHOPPING CENTRE / PRECINCTA purpose-built area or building in a town centre with a number of shopsSHOPPING MALLAn area with shops outside towns, having much parking space

TYPES OF PROMOTIONMEDIATVradiocinemanewspapers and magazinesInternet

PRINTED MATERIALS inserts inside magazinesflyersbookletsleaflets brochurescatalogues

SPECIAL PROMOTIONSfree giftslimited offerscoupons in magazinesloyalty cardsspecial offerscompetitions with prizesIN-STOREfree samplesmerchandisingP.O.S. displaysfree tastingOTHERproduct placementendorsementtelephone salessponsorshiptrade fair standsADVERTISINGADVERTISING:(uncount.) the activity of telling customers about products or services, or the materials that companies use in general to do this.ADVERTISEMENT: a particular piece of advertising, such as a notice about a product. (ADVERT, AD)To place/ put/ run / take out an advertisement

ADVERTISINGADVERTORIALan advertisement in a newspaper or magazine that is like a written article and seems to be giving facts rather than advertising a product.INFOMERCIAL / INFORMERCIALa long commercial on television or the internet that tries to give a lot of information about a subject, so that it does not appear to be a commercial.ADVERTISING: KEY WORDSCOPYRIGHTERART DIRECTORSLOGANJINGLELOGO

ADVERTISING BUDGETADVERTISING BRIEFMEDIA PLANNINGSALESAGENT: given authority to carry out a particular piece of business on smb.s behalf (estate agent)BROKER: a person who buys and sells investments or financial products on behalf of othersBoth A and B work independently or as part of their own companies and receive a fee for their servicesDEALER: buys and sells a particular type of product (art/car/diamond dealer)SALES REPRESENTATIVE / REPRESENTATIVE / SALES REP: works as an employee of a company, selling their goods or services to people in a particular area.SALE vs. SALES vs. THE SALESSALEAn act or the process of selling sth.:To close / complete / lose / make a saleAn occasion when a shop sells its goods at a lower price than usual:The sale starts on 28 December.THE SALES: period when many shops are selling goods at low pricesAn occasion when goods are sold, esp. an auction:A contemporary art saleSALE: IDIOMSFOR SALE: available to be boughtON SALE: 1. available to be bought, esp. in a shop or store2. being offered at a reduced priceSALES1. the amount of goods or services soldquarterly / annual / high / strong / weak / slow sales To boost / generate sales2. the business of selling things, the department of a company that is responsible for selling thingsHe works in sales.Sales department / director / manager / staff / team / forceSales pitch