Evolution of marketig

Exercise 9. Match the following expressions with the correct definition.

Exercise 8. Give the Russian equivalents to the following.

Tax, taxation, taxable income, taxation brackets, tax avoidance, tax base, tax burden, tax evasion, tax exemption, tax-free, tax haven, tax holi­day, taxman, tax relief, tax return, tax shelter, lump-sum tax, excise tax, heavy tax, payroll tax.

1. Sums allocated by an organization for for future capital expenditure.

2. Ratio of sales of a company to its capital employed.

3. Income tax relief.

4. The amount provided by ways of loans.

5. Factor of production, usually machinery and plant.

6. Total depreciation of the value of the capital goods in an economy during a specified period.

7. The perceived value of people and their skills.

8. Money to carry on production and keep trading.

9. Money a company has raised from investors who bought shares.

10. Money a company borrows to strart up a new business.

11. Money invested in a project with a high chance of failure.

a. working capital

b. human capital

c. venture capital

d. share capital

e. risk capital

f. loan capital

g. capital budget

h. capital turnover

i. capital allowances

j. capital consumption

k. physical capital

Exercise 10. What is the English for?

Взимать налог; не платить налоги; облагать налогом; освобождать от налога; платить налоги; подлежать налогообложению; снижать налоги; удерживать налоги; уклоняться от уплаты налогов; до вычета налогов; после удержания налогов.

TEXT 14. MARKETIG

The evolution of marketing is the evolution of the exchange process. Unless two or more individuals or organizations have something to exchange, there is no need for marketing. The desire to exchange occurs only when someone produces more than he/she can consume (a surplus). This surplus is exchanged for surplus someone else produced. Possibly the first marketing transaction took place when one cave-dweller, who enjoyed making arrows but did not like to hunt, persuaded a fellow cave-dweller, who liked to hunt but did not enjoy making arrows, to accept some arrows in exchange for some animal skins and meat. Since that primitive time, marketing has become very sophisticated indeed.

The Egyptians, Phoenicians, Greeks, and Romans all had well-developed trade systems. The Old Testament contains many references to such marketing topics as money, wealth, credit, products, international trade, government regulation, middlemen, taxation, poverty, welfare, pricing, trade fairs, and business ethics.

During the Middle Ages trade declined. However, it picked up again during the Age of Discovery (roughly 1400-1760 A.D.) as merchants sought to extend their reach over much of the world. As you no doubt recall, Columbus made his first voyage to America in an effort to find a more direct trade route to Asia and the Far East.

In the late 1700s the Industrial Revolution began, and as it continued, marketing grew in importance. This latter-day development can be divided into three periods—the production era, the sales era, and the marketing era.

Marketing is closely related to economics, the social science concerned with the production, distribution, and consumption of useful goods and services. In traditional economic thought economic activity creates utilities of form, place, time, and possession. To marketers the form created is the product; place and time refer to having the product available where and when it is needed; and possession relates to ownership or transfer of title. Marketing is a part of the broad field of economics and helps to create these four all-important utilities.

Marketing is also related to other social sciences. It draws freely from sociology, the scientific analysis of social institutions as a functioning whole and as they relate to the rest of society. Marketing studies people in a social context, as members of different groups. Advertisers, for example, aim their appeals at particular market segments, such as the youth market, the urban market, the black market, or the farm market. Sociology helps us understand the differences not only between our society and those of other nations but also between various subcultures within our own country.

Psychology is the study of the mental, attitudinal, motivational, or behavioral characteristics of an individual or a group of individuals. Marketing practitioners find knowledge of psychology helpful in formulating advertising and sales campaigns. How do people think? What motivates them to buy? How can we change their buying habits? What price will have the strongest appeal? Psychological research has become a major tool of marketing analysts.

The American Marketing Association, representing marketing professionals in the United States and Canada, states that "marketing is 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 objectives." Many people incorrectly believe that marketing is the same thing as advertising or personal selling. This definition shows marketing to be a far broader activity. Further, this definition stresses the importance of beneficial exchanges that satisfy the objectives of both those who buy and those who sell ideas, goods, and services.

To serve both buyers and sellers, marketing seeks (1) to discover the needs and wants of prospective customers and (2) to satisfy them. These prospective customers include both individuals buying for themselves and their households and organizations that buy for their own use (such as manufacturers) or for resale (such as wholesalers and retailers). The key to achieving these two objectives is the idea of exchange, which is the trade of things of value between buyer and seller so that each is better off after the trade.

For marketing to occur, at least four factors are required: (1) two or more parties (individuals or organizations) with unsatisfied needs, (2) desire and ability on their part to be satisfied, (3) a way for the parties to communicate, and (4) something to exchange.

EXERCISES

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