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General Education Office BUSINESS ENGLISH LA.231/LA.331/LA.3501 Unit 8: Markets

Objectives By the end of this class you should be able to… • Identify “markets” vocabulary. • How to market a particular product. • How to use comparatives and superlatives.

World Population • A) Look at the pie chart and answer these questions • What is the population of North America? • The population of North America is three hundred and thirty two million. • What percentage of the world’s population lives in Europe? • B) Now ask and answer other questions about the chart.

Types of Market Vocabulary • Listen and repeat these numbers. • 6,300 six thousand, three hundred • 75,807 seventy-five thousand, eight hundred and seven • 823,120 eight hundred and twenty-three thousand, one hundred and twenty • 1,255,500 one million two hundred and fifty-five thousand five hundred • 10.5% ten point five percent • B) Listen and underline the correct number. • Last year, the company had a market share if 10.3 / 103 percent. • Last year, sales of the main brand increased by 30 /13 percent. • Last year, the company sold more than 850,000 / 815,000 units of Sparkle • The company wants to increase it’s market share to 11.5 / 11.9 percent. • Next year, the company wants to sell 1,100 / 1,100,000 units of Sparkle.

Types of Market Vocabulary • Match the beginnings of the sentences(1-5) with their endings (a – e) • Coca-Cola is a mass market product; it a) is a small but often profitable market • Selling special interest holidays is a b) is outside the producer’s country • niche market; it • Rolex watches sell in a luxury market; c) is in the producers country • they are • 4 An export market d) high quality and expensive goods • 5 A home market e) sells to large number of people • D) Think of products which match the types of market in Exercise C • Nike shoes sell in a mass market. • Ferrari sports cars are a luxury market product.

Types of Market Vocabulary • Match the beginnings of the sentences (1 – 5) with their endings (a – e) • A new market a) is large • A growing market b) allows companies to make money. • A profitable market c) is good to enter • A big market d) is getting larger • An attractive market e) is at an early stage • F) Match the adjectives in italics in Exercise E with their opposite meanings ( a – e) • Unattractive d) declining • Unprofitable e) small • Mature

The car market in Russia Reading • In small groups, discuss these questions/ • 1) What do you know about the Russian economy? • 2) In your country, what do the richest people like to spend their money on? • B) Before you read the article, match these words (1 – 6) to their meanings (a-f)

The car market in Russia Reading • Look through the article to find at least two reasons why rich business people • want the most expensive cars. • D) Read the article again and choose the correct answers to complete these • sentences. • The number of very rich people in Russia is….. • a) going down b) increasing c) stable • Last year, DaimlerChrysler’s sales in Russia were …….. the year before. • a) the same as b) lower than c) higher than • According to Alexandra Melnikova, the situation in Russia is ….. that in China. • a) similar to b) different from c) better than • Many Russian business people want a custom made car because ….. • a) they all dream of a gold Rolls-Royce. • b) they want to compete on the same level as the Chinese. • c) standard luxury cars are not impressive enough

Language Focus Language Focus – Comparatives and Superlatives • We compare two people or things with comparative forms of adjectives. • Sales of luxury cars are higher this year than last year. • The Mercedes SL500 is more expensive than a Volkswagen. • We compare three or more people or things with superlative forms. • The country is now the biggest market for some car manufacturers. • What is the most expensive make of car?

Language Focus Language Focus – Comparatives and Superlatives • Correct the mistakes in these sentences. • 1) It is more harder to break into export markets than home markets. • 2) China is a more big market than Japan. • 3) Our market share is more low than it was last year. • 4) The rate of inflation is more bad this month than it was last month. • 5) This month’s sales are more high than last month’s. • 6) The Asian market is more good than the European market for rice.

Language Focus Language Focus – Comparatives and Superlatives b) Complete these conversations using the superlative form. 1) This is a good product. Yes, it’s the best product on the market. 2) This is an expensive hotel. Yes, it’s ___________ place in the city. 3) She is a very popular manager. Yes, she’s ____________ head of department in the company. 4) This is a cheap product. Yes, it’s ___________ product in the catalog. 5) This is a very competitive market. Yes, it’s ___________ market in Asia. 6) This is a bad year. Yes, it’s ___________ year in the last ten years. the most expensive the most popular the cheapest the most competitive the worst

Language Focus C) Complete this article with the appropriate form of the words in brackets. Profile I opened a hairdressing salon last year. The most important 1 (important) thing is to think about your target customers. My hairdressing salon is located in my parents’ hotel. My customers are ________ 2 (old) and ________ 3 (rich) than my main competitor’s. They like excellent service and a cup of coffee. My main competitor’s customers are ______ 4 (young) than mine. She offers a ________ 5 (cheap) service than I do. However my salon is ________ 6 (comfortable) than hers. My ________ 7 (exciting) customer is a famous model.

Doing business in India • Work in small groups. Tell each other what facts you know about India. • Make a list. • Listen to Sunit Jilla, a cross-culural expert, giving advice to people who • want to do business in India. Number these features of India in the order • in which he mentions them. • a) Things can be much slower than in your country. • b) There are strong regional differences. • c) It is important to have an open mind. • d) There is a need for harmony. • e) There are many sub-cultures.

Doing business in India • Listen again and complete these summary notes about two of the points • Sunit makes. • Secondly, there is a modern1 India, which you will meet when you arrive • then you will see the __________ 2 India, which is the foundation of • modern India. • You should try to understand how these two are part of the same • country. This will really ________ 3 you to be ________ 4 and ______ 5 • in India. • In summary: before going to India, you need to ‘do your _______ 6’. • You need to learn about several aspects of Indian life, both ______ 7 • and ________ 8.

Doing business in India • Listen to the second part of the interview. Then choose the best • answers to these questions: • The first mistake foreigners make when doing business in India is • That they • Come for a very short time • Don’t spend enough time socialising with Indian people. • Don’t think that there are big cultural differences. • Secondly, foreigners do not always understand that…. • a) Indian people see time in a flexible way. • b) they may shock people if they are not punctual for meetings. • c) they mustn’t work during national holidays. • Thirdly, foreigners sometimes…. • a) think that Indians are aggressive, which is not true. • b) complain that Indians do not respect people from other countries. • c) forget that Indians like keep their self-respect

Doing business in India • Cont’d • Fourth, foreigners sometimes are often surprised that Indians… • a) are very good negotiators. • b) have no negotiating skills. • c) use forceful negotiating skills. • Finally, another cultural difference is that… • Foreigners usually think that they should start by building a • personal relationship • Indians are less task focused than many foreigners. • Indians have more respect for traditional values.

Language Focus – much / a lot / a little / a bit • We use much or a lot with comparative adjectives to talk about • large differences. Much is more formal than a lot. • Fruit snacks are much healthier than sugary snacks. • New Zealand is a good market but Australia is a lot more attractive. • We use a little or a bit with comparative adjectives to talk about small • Differences. A little is more formal than a bit. • The PDX 100 is a little more expensive than the PDX200. • This month’s sales are a bit higher than last month’s.

Language Focus – much / a lot / a little / a bit • Complete the sentences about the cars. • 1) The Rolls-Royce is ______ bigger than the Ferrari. • 2) The Ferrari is ________ bigger than the Smart Car. • 3) I think the ________ is faster than the _________ . • 4) In my opinion, the _______ is ________ comfortable then the _____.

Language Focus – much / a lot / a little / a bit • Talk about sales in France and in Spain. Use this chart. Sales € (000’s) In the first quarter, salesin France were a little higher than in Spain. In France,sales in the second quarter were much higher than in the first quarter Quarter

Language Focus – much / a lot / a little / a bit • Compare these two pool tables using much, a lot, and a little. • The Classic Pool table is a bit wider than the Trainer Pool Table.

Skills – Participating in Discussions • Three marketing executives, Jacek, Paul and Anna, talk about a new • morning snack called Krakel. Listen to their conversation and underline • the correct answers. • 1) Who does Jacek want to target with the new bar? • a) children b) rich women c) young workers • 2) Jacek says more people these days…. • a) do not have breakfast b) have breakfast on the way to work • c) eat breakfast at home • 3) Krakel contains …. • a) no sugar b) a bit of sugar c) a lot of sugar • 4) Krakel contains… • a) no fruit b) a bit of fruit c) a lot of fruit

Skills – Participating in Discussions B) Listen to the conversation again. Complete these extracts 1) Sorry, Paul, I don’t agree with you. 2) I ________ we need to target young working people. 3) You’re __________. There is a big market for morning snacks. 4) How do you __________ about this, Anna? 5) I really _________ the idea. 6) OK. _______ call a meeting and talk to the rest of the department.

Skills – Participating in Discussions • Look at the extracts in Exercise B. Decide whether the speaker is: • Agreeing • Disagreeing • Asking for an opinion • Giving an opinion • Making a suggestion

Skills – Participating in Discussions • Useful language • Agreeing Giving an opinion • You’re right. I think ………. • I really like the idea. In my opinion……….. • Disagreeing Making a suggestion • (sorry), I don’ agree with you. Let’s…… • I’m afraid I don’t agree. How about ….? • Ask for an opinion • What do you think? • How do you feel about this?

Financial Markets Financial Markets are referred to as the “Stock Market” and is a collection of companies buying and selling shares and commodities. They are traded on stock markets around the world and are bought and sold by stockbrokersfor their customers, or shareholders. But none of the documents are regularly seen by anyone, including the shareholders. Nearly all shares are entirely electronic and bought or sold entirely by computer.

Practice It! Work with a partner and think of the key products your country produces for international trade, otherwise known as export. Are any of these goods traded on the stock market? Does the WTO assist your country in trading these goods? Then think of the products that your country trades with other countries to bring into your country, otherwise known as import. Prepare a 5 sentence paragraph describing your ideas to present to your instructor and the rest of the class.

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