Ex.3. Choose the proper variant.

Focus groups

COOLHUNTING

UNIT 2.

Text. Read and translate.

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, 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 all the prices for next year except/accept the new range which won’t be ready for another three months.

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

3. After the confusion over the bank transaction, they have agreed to waive /wave charges.

4. These two companies have been in collision/ collusion with each other on the price fixing issue.

5. We should use an alternative/ alternate pricing structure to the one we use now.

6. We’ve had an officious/ official letter to tell us about the changes in export regulations.

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

8. Once they have agreed on the figures we can precede/ proceed with the costing.

9. Please insure/ ensure that only the most recent figures are included in the calculations.

10. When we are setting standards we allow 10% for deficient/ defective goods.

11. There must be a mistake in the calculations somewhere. These figures are just not credible/ creditable.

12. The cash budget must take seasonal/seasonable variations into consideration.

13. The consultant is being prosecuted /persecuted for tax evasion.

14. The management have now decided what measurement/ measures to take to increase 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 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 share of the market. Let's not give up without a fight. Let's try some other marketing strategies.

· Our sales team is doing badly against the competition. We may need to reinforce the team with some new recruits.

· In China, we've decided to join forces with a local company and set up a joint venture.

· After our last radio campaign, we were bombarded with calls to our customer lines.

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

· I've set my sights on being the next sales manager.

· There isn't much money and Accounts and Marketing are having a big battle over the advertising budget.

· He's always irritating the boss by being late for meetings. He's his own worst enemy.

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

· We need to capture more of the youth market.

· They were a casualty of the last recession.

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

· Taking over that company would be a real minefield.

1.Look, Nick, could you … me ten dollars for a couple of days?

1) lend 2) borrow

3) owe 4) give

2.We don’t exchange goods unless you have the …

1) bill 2) cheque

3) check 4) receipt

3. Market … gives you information about what people want, need and buy.

1) share 2) target

3) research 4) figures

4. I am going to the bank to … the money for the rent.

1) withdraw 2) remove

3) get out 4) take off

5.The % of a market that company has is called…

1) market share 2) market part

3) market interest 4) market value

.The manager told David to make an… for the job.

1) invitation 2) allocation

3) obsession 4) application

7. Unfortunately the old painting I found turned out to be …

1) priceless 2) valueless

3) worthless 4) costly

8.The act of getting control of a company by buying more than a half of its shares is called …

1) quotation 2) takeover

3) venture 4) turnover

9. Paper showing products sold and the money to pay is called…

1) invoice 2) receipt

3) account 4) payment

10.When you lose your job because the job is no longer needed you are

1) retired 2) fired

3) redundant 4) promoted

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