Lesson 3

Task 1. Study the etymology of the word “MARKET”.

Etymology:	MARKET
from Latin via Anglo-Norman French to Middle English
Latin merx (wares, merchandise) → Latin mercari (to trade, deal in, buy) → Latin mercatus (trading, trade, market) → Old French marchiet → French marché (market)
· Traced back to c. 1154 when it was used as “a meeting at a fixed time for buying and selling livestock and provisions”; · Meaning “public building or space where markets are held” first attested c.1250. · Sense of “sales, as controlled by supply and demand” is from 1689. · The verb “to market” dates back to 1635, when its was formed from the noun.

 

Task 2. a) The word “MARKET” has a wide range of meanings:

 

 

 

b) Which meaning of the word is revealed in the following sentences?

 

1. Wednesday is market day.

2. There is no longer a market for tin.

3. France is the main market for our goods.

4. It’s one of the best laptops on the market.

5. We buy our vegetables at (in) the market.

6. Power supply cannot be left to the market.

7. The hardware market is severely depressed.

8. They hope to break into the teenage market.

9. We’re going to put our house on the market.

10. Our product is aimed at the corporate market.

11. Retailers have created a market for organic food.

12. There used to be many street markets in our city.

13. We produce this version for the Japanese market.

14. The world market in coffee is quickly developing.

15. The EU has become Chile’s largest export market.

16. There will be a huge market for our digital systems.

17. They are too slow in getting their products to market.

18. They’re looking to increase their share of the market.

19. The retailer is planning to come to market next week.

20. There hase been a slump in the global market for PCs.

21. The Internet is opening up new markets for companies.

22. The market will decide if the TV station has any future.

23. There is a local mini- market only a short distance away.

24. Most people are not in the market for this kind of product.

25. The traders take their flowers to market early in the morning.

26. Changes in the weather affect the market in fruit and vegetables.

27. The company performed well despite difficult market conditions.

28. They are preparing to launch a mobile phone onto the UK market.

29. Japanese carmakers are coming to the market with more efficient engines.

30. Trading has been slow on the New York and Tokyo markets this morning.

31. Some very attractive properties will be coming onto the market next month.

32. A crowded market is a situation where there are lots of competing products.

33. A market is a public building or place where people sell goods on tables called stalls.

 

Task 3. a) Use the word stem and flexions below for word formation.

b) Which of the derived words are used to denote:

 

· a specialist in marketing; a business that sells goods or services to the public or that sells in a particular way;

· a person whose job involves getting people to buy things; a person who is in favour of a particular system of buying and selling;

· the activity of presenting, advertising and selling a company’s products in the best possible way;

· able or fit to be sold or marketed; attractive to potential employers or clients; in demand;

· a measure of the ability be bought and sold;

· the exposure of an industry or service to market forces; the conversion of a national economy from a planned to a market economy;

· the business of making design-influencing decisions associate with distribution, consumer reaction, material availability, and so on;

· an open space where a market is or was formerly held; the arena of commercial dealings?

 

c) Give the English equivalents for:

 

· маркетологія (науковий напрямок, що вивчає маркетинг); вивчення ставлення людей до різноманітних товарів, брендів і т.п.;

· реалізованість; товарність; відповідність вимогам ринку; нормальна ринкова якість; придатність для продажу;

· перехід національної економіки від планово-командного до ринкового устрою;

· комерсант, купець, торговець; прихильник ринку певного типу;

· ходовий (про товар); такий, що легко реалізується; ліквідний;

· ринок; місце для проведення ринкових торгів;

· спеціаліст з маркетингу; маркетолог;

· торгівля, продаж, збут; маркетинг.

Task 4. Translate Ukrainian paying attention to the words in italics.

 

1. The design process may be described as an imaginative integration of marketology, engineering technology, and scientific relate information toward the development of a profitable product.

2. It’s our hope that we will play an increasingly greater role in the marketplace and, therefore, supply more jobs.

3. These are marketable skills and will allow these women to be professional therapists in their own right.

4. It is a product that has sufficient marketability to enable them to recover their investment costs.

5. Marketeer is most often a contemporary and informal euphemism for marketing professional.

6. What began as an attempt at artistic creation has turned into a marketable commodity.

7. The marketer builds a relationship between the brand and the customer.

8. The marketization of the Ukrainian economy began in the late 1980s.

9. Forest Deli is a distributor and marketer of tropical foods.

10. He is a skilled retailer and marketer.

11. She works in sales and marketing.

 

Task 5. a) Make the difference between the following words.

Marketplace · a small area in a town or city where goods are bought and sold, often outdoors; · the arena of competitive or commercial dealings; the activity of buying and selling products;	Marketspace · an arena within which commercial dealing takes place; a market; · (mass noun) commerce carried out by electronic means, especially via the Internet;
The marketplace · the activity of competing with other companies to buy and sell goods, services, etc.
Базарна (ринкова) площа; сфера бізнесу, торгівлі та економіки; ринок нематеріальних цінностей;	Ринковий простір.

b) Translate into Ukrainian paying attention to the words in italics.

 

1. Companies must be able to survive in the marketplace.

2. How can we compete successfully in the global marketplace?

3. It’s an online marketplace for small business products and services.

4. The marketplace was jammed with a noisy crowd of buyers and sellers.

5. The term marketspace was introduced by Jeffrey Rayport and John Sviokla in 1994.

6. It’s our hope that we will play an increasingly greater role in the marketplace and, therefore, supply more jobs.

7. Marketspace – an information and communication based electronic exchange environment – is a relatively new concept in marketing.

8. Since physical boundaries no longer interfere with buy/sell decisions, the world has grown into several industry specific marketspaces which are integration of marketplaces through sophisticated computer and telecommunication technologies.

 

Task 6. a) The following words often occur after “MARKET”.

 

b) Which of the above word-combinations means:

· a group of customers that a company’s products are especially suitable for and which the company is seen as belonging to; a product, service or company that is different from or better than others in the same area;

· an experiment in which a product is made available in one or more areas to see if consumers like it and will buy it;

· a diagram that shows the positions of brands in terms of the most important brand characteristics;

· that consumers buy regularly; the price paid for them. It is used to measure the cost of living;

· someone whose job is to buy and sell stocks and shares for other people on the stock market;

· BrE a day each week when people sell goods outside in a town or village market;

· BrE an area of land where vegetables and fruit are grown to be sold;

· BrE a town where there is a market each week, usually outside;

· the usual price or rate for something at a particular time?

c) Give the English equivalents for:

 

· базарний день;

· (ринкова) ніша;

· випробовування в ринкових умовах;

· город, сад (для вирощування овочів і фруктів для продажу);

· місто-ярмарок; місто з ринком (місто, в якому відбуваються базари);

· брит. біржовий курс, ринковий обліковий відсоток (лондонських банків і векселів маклерів);

· графічне маркетингове дослідження, результати якого представлені на графіку, який показує залежність досліджуваних параметрів від зміни яких-небудь факторів;

· учасник ринку валюти; учасник ринку цінних паперів; “маркет мейкер” (маклер на Лондонській фондовій біржі; з 1986 в результаті “Великого вибуху” (Big Bang) укладають торговельні угоди безпосередньо з громадськістю);

 

Task 7. Make the difference between the following concepts.

Market niche · a group of customers that a company’s products are especially suitable for and which the company is seen as belonging to; · a product, service or company that is different from or better than others in the same area;	Niche market · a market in which there is little or no competition for a particular type of product or service, for which there is limited demand;
(ринкова) ніша (невеликий сегмент ринку, який може обслуговувати фірма, і котрий певною мірою вільний і захищений від конкуренції).	нішевий ринок (спеціалізований сегмент ринку, що обслуговує певну вузьку категорію споживачів).

 

Task 8. a) Match the terms in column A with their definitions in column B:

A

B

1. (the) marketplace 2. market economy 3. market analyst 4. market basket 5. market leader 6. market share

a)an economic system in which prices, salaries, and the supply of goods are controlled by what and how much people buy, not by the government; b)a company that sells more of its products than any other company of its type; a product that is bought by more people than any other of its type; c)the percentage of the total amount of sales of a particular product that a company has; d)a place where people sell goods outside in a town or village market; the activity of buying and selling; e)a collection of different products that consumers buy regularly; the price paid for them. It is used to measure the cost of living; f)a person who collects and analyses information about a market, especially a stock market;

b) Translate into Ukrainian paying special attention to the words in italics.

 

1. Products which do not meet consumer desires will fail the market test. 2. We are the market leader in car insurance. 3. We believe we are ready to challenge the market leaders. 4. They are in second place behind market leader, Tesco plc. 5. Our range of products includes 20 market leaders. 6. The investor buys through a broker who completes the transaction through a market-maker. 7. A couple of market-makers were caught short of stock. 8. A market basket of goods and services increased by only 1.8% last year. 9. The company has grown beyond its original market niche. 10. The bank has created a market niche for itself in the commrcial sector by focusing on project finance. 11. We charge interest below the market rate on loans. 12. Many small businesses cannot afford to pay market rates for legal services. 13. The company’s US market share fell from 23.4% to 21.2%. 14. Our market share increased in all segments. 15. They hope to win market share from their competitors. 16. They are using price-cutting to try to buy market share. 17. John J. Murphy is a financial market analyst and is considered the father of modern technical analysis. 18. Market gardening is the relatively small-scale production of fruits, vegetables and flowers as cash crops, frequently sold directly to consumers and restaurants. It is distinguishable from other types of farming by the diversity of crops grown on a small area of land, typically, from under one acre (0.4hA) to a few acres, or sometimes in greenhouses. Such a farm is sometimes called a market garden or truck farm.

Task 11. a) The following words frequently occur in front of “MARKET”.

 

b) Which of the above word combinations can be translated as:

· “ведмежий” ринок, ринок “ведмедів”; ринок, який характеризується падінням цін; ринок тенденцій до пониження (на якому спостерігається стійка тенденція до пониження цін упродовж тривалого періоду часу); “чорний” ринок (ринок, на якому йде продаж-купівля товарів за цінами, вище встановлених державою);

· ринок, який характеризується тенденцією зростання цін; “бичачий” ринок, ринок “биків”; період підвищення фондової кон’юнктури, від якого виграють “бики”;

· ринок, ціни на якому тримаються твердо; міцний (стійкий) ринок (на якому продукція користується стійким попитом);

· “чорний ринок” (ринок заборонених для торгівлі товарів або ринок, на якому укладаються незаконні угоди);

· ярмарок наречених;

· шахрайська торгівля;

· сірий ринок (неофіційний ринок яких-небудь товарів, торгівля якими не може проводитися в рамках традиційно регульованого ринку; зазвичай це стосується товарів, які розповсюджуються каналами збуту, які не мають відношення до звичайних каналів виробника; зазвичай сірий ринок формується у випадках, коли ціна товару в одній країні значно вище, ніж в іншій: імпортер закуповує товар у країні з низьким рівнем ціни, імпортує його на законних засадах, а потім перепродує на внутрішньому ринку за ціною нижче звичного рівня внутрішнього ринку, але достатньою для отримання прибутку); на відміну від операцій на чорному ринку, операції на сірому ринку не вважаються незаконними;

· вуличний ринок (ринок на відкритому місці, де продавці розміщують свої товари в ларьках, палатках, на столах чи інших подібних вітринах)?

Task 12. a) Study the following adjectives.

 

· narrow market – вузький (в’ялий, неактивний) ринок (будь-який ринок цінних паперів, товарів або валют, що характеризується малими обсягами угод, великими коливаннями цін, значним розривом цін продавця і покупця; на такому ринку невеликі зміни попиту та/або пропозиції можуть вплинути на ціну); · short market – короткий ринок (ринок, на якому спекулянтам продано на строк без покриття занадто багато цінних паперів, у зв’язку з чим закупівлі для покриття зобов’язань викликають підвищення цін на ринку цих об’єктів); · thin market – в’ялий ринок; ринок із низьким рівнем активності; · heavy market – перевантажений ринок (ринок, на якому пропозиція значно перевищує попит); · tight market – ринок з недостатньою пропозицією (попит домінує над пропозицією); активний ринок з розбігом цін продавця і покупця; · weak market – ринок, що характеризується переважанням продавців і зниженням цін; · broad market – широкий ринок (необмежений ринок, на якому наявна значна кількість цінних паперів з більш-менш стабільним курсом протягом певного періоду часу); · close market – тісний ринок (на якому розбіг між цінами продавця і покупця незначний; зазвичай характеризується також активною торгівлею і великою кількістю конкуруючих маркет-мейкерів); · distant market – територіально-віддалений ринок (ринок збуту, розташований далеко від компанії-постачальника товарів, наприклад в іншій країні).

 

b) Make up sentences with the above word-combinations.

 

Task 13. Study the following words.

demand or market?

WHICH WORD?

These words have the same basic meaning, but … · demand is a more general term, and … · market is a more specialist business term. They have different grammar and collocation patterns: · people talk about the housing / labour market and different product markets, but … · demand for housing / labour / a product. · You can create demand / a market, but … · you meet / satisfy / increase demand and supply / expand the market. · You influence / forecast demand but … · find / identify a market. · People talk about a fall / a decline / an increase / growth in demand but … · a slump / recovery in the market. When a business has trouble producing enough goods because so many people want them, people talk about demand rather than the market.

 

Task 14. Match the terms in column A with their definitions in column B.

 

A

B

1. Delivery 2. distribution 3. freight 4. handling 5. haulage 6. shipment 7. shipping 8. transit 9. transport

a) (formal) the act or cost of packing an object or material and sending it to a customer; b)is the business or cost of transporting goods by road or rail; c)the act of making goods available to customers by supplying them to shops; the system of transporting and delivering goods to shops or customers; d)the act of taking goods or letters to the people they have been sent to; e)the activity of carrying people or goods from one place to another by ship; f)the activity or business of carrying goods from one place to another, especially by road or rail; g)the process of being moved or carried from one place to another; h)the process of sending goods from one place to another, especially from one country to another, but not necessarily by ship; i)the system of carrying goods from one place to another by road, air or rail;

Task 15. Translate into Ukrainian paying attention to the words in italics.

1. We offer free delivery on orders over $200.

2. Allow 28 days for delivery.

3. Please pay for goods on delivery (= when they are delivered).

4. (formal) When will you be able to take delivery of the car?

5. At the moment there are two deliveries a day (= of mail).

6. She had made a delivery to the address earlier that day.

7. They have systems in place for sales, distribution and marketing.

8. He worked in the milk distribution business.

9. We tend to use air freight for lighter goods.

10. We need stricter controls on the transport of nuclear waste.

11. Transportation costs have virtually crippled our business.

12. The total cost includes transit.

13. Your insurance should cover transit by air, sea or rail.

14. We will pay for any goods lost or damaged in transit.

15. The goods are ready for shipment.

16. The illegal shipment of weapons continues to be a multimillion dollar industry.

17. She arranged for the shipping of her furniture to England.

18. She married a shipping magnate (= a person who has made a lot of money from shipping) in 1997.

19. There have been protests from the road haulage industry.

20. How much will haulage be (= how much will it cost)?

21. There is a $5 handling charge for each order.

22. (AmE) You pay only $29.99 plus shipping and handling.

 

Task 16. Think and answer.

 

1. Is your native place a market town?

2. Is Wednesday a market day in your native place?

3. What market niche do you belong to?

4. Are there many market gardens in your area?

5. How is the process of transition from command to market economy called?

6. What makes a company the market leader?

7. Why do many products fail the market test?

8. What does the market basket contain?

9. How does black market differ from grey market?

10. What is the difference between bull and bear market?

 

Task 17. Revise the scope of meanings of the word “MARKET”.

 

MARKET n	to MARKET v	MARKET adj
1.базар, ринок;	1.привозити, доставляти (товар) на ринок;	1.ринковий (такий, що відповідає ринко-вим принципам);
2.ринок (збуту); збут; попит;	2.пропонувати на продаж; виставляти на продаж;	2.ринковий (характер-ний для даного ринку або діючий на даному ринку);
3.торгівля;	3.торгувати, продавати на ринку; купувати на ринку;	3.ринковий (такий, що має відношення до ринку);
4.ринкова ціна; курс;	4.продавати; збувати, реалізовувати;	4.товарний.
5. амер. продовольчий магазин	5.знаходити ринок збуту;
6.ринок; ринкові умови; ринкова кон’юнктура;	6.брати участь у ринкових відносинах.
7.фондова біржа.

 

Task 18. Practice reading the following words.

 

1. agency [`eıG ə;ntsi] 2. to allow[ə`lau] 3. automobile[`O:təməuֽbi:əl] 4. command[kə`mα:nd] / [kə`mænd] 5. to converge[kən`və:G] 6. deliberately[dı`lıb ə;rətli] 7. demand[dı`mα:nd] / [dı`mænd] 8. to designate[`dezıgneıt] 9. to determine[dı`tə:mın] 10. distinct[dı`stıŋ k t] 11. distinguishable[dı`stıŋwı∫əbəl] 12. distribution[ֽdıstrı`bju:∫ən] 13. efficiency[ı`fı∫əntsi] 14. to emerge[ı`mə:G] 15. equilibrium[ֽi:kwı`lıbriəm] 16. externalities[ֽekstə:`nælətiz] 17. to facilitate[fə`sıləteıt] 18. furniture[`fə:nıt∫ə] / [`fə:nıt∫ər] 19. identifiable[aı`dentıfa ı;əbəl]

20. illegally[ı`li:gəli] 21. interchangeably[ֽıntə`t∫eın G əbəli] 22. mechanism[`mekəֽnızəm] 23. medium[`mi:diəm] 24. negotiation[nıֽgəu∫i`eı∫ən] 25. to occur[ə`kə:] 26. origin[`OrıGın] / [`O:rıGın] 27. ownership[`əunə∫ıp] / [`əunər∫ıp] 28. to participate[pα:`tısıpeıt] / pα:r`tısıpeıt] 29. physically[`fızıkəli] 30. pressure[`pre∫ə] / [`pre∫ər] 31. to purchase[`pə:t∫əs] 32. spontaneously[(ֽ)spOn`teıniəsli] / [(ֽ)spα:n`teıniəsli] 33. utility[ju`tıləti] 34. virtual[`və:t∫u ə;l] 35. welfare[`welfeə] / [`welfer] 36. wholesale[`həulseıəl] / [`houlseıəl]

Task 19. Read the text.