What’s Business?
COMPREHENSION
A P4
1. Production, distribution and sale of goods and services for profit.
2. The new definition involves three processes (production, distribution and
sale) whereas the old definition only involves sale.
The old definition only involves goods whereas the new one involves goods
and services.
Part two: Possible answer: developments in life, modern technology,
appearance of new markets, open economy, e- commenrce…etc
3. Production involves changing materials into goods and creating services.
4. A car is moved from a factory in Detroit to a car dealership in Miami.
5. Goods are materials whereas services are not.
6. Profit.
7. Profit is the money that remains after all expenses are paid.
B Page 5
2. F, the concepts and activities in business gave increased across time.
3. F, this is an example of distribution
4. T
Vocabulary Exercises P5
Exercise B:
1. Good: Products
2. Conversion: change
3. For instance: for example
4. Distribution: Moving or transporting
5. Exchange: trade
6. On the other hand: however
7. Examine: look at
Exercise C:
2. a. distribution
b. distribute
3. a. produces
b. production
4. a. are classified
b. classification
5. a. convert
b. conversion
Page 6
Exercise 1
1. Line 4 It refers to business
2. Line 20, This factor: profit
Exercise 2
Next: Summarization
On the other hand: contrasting
Therefore: summarizing
Careers in Business
Comprehension
A P 12 & 13
1. Management, marketing, accounting, finance, Computers and data
processing
2. Banker, financial analyst, stockbroker
3. General manager, personnel manager, production manager
4. Computer and data processing
5. Computer operator, computer programmer, system analyst
6. Marketing, researcher, advertiser, buyer, seller, distributer
7. Does the work interest you? Are there any areas of business for which you
have aptitude or special capability? What are the opportunities involves,
such as salary, chance for advancement and demand for the job?
8. Yes, the country supports business, the Saudi business is improving,
business brings employment … etc
Exercise B Page 13
1. B
2. D
3. A
4. D
Vocabulary Exercises P 13 & 14
Exercise A
1. Advancement
2. Variety
3. Salary
4. Field
5. Suitable
6. Careers
7. Aptitude
8. Specialize in
Exercise C Page 15:
1. Field
2. Specialize in
3. Various
4. Suitable
5. Aptitude
6. Salary
7. Demand
8. Advancement
Exercise 5 P16
a. Management: the series of activities…
b. Marketing: the movement of goods ….
c. Accounting: the measurement and communication …
d. Finance: the acquisition and utilization of capital
e. Data processing: the handling of large amount of information…
Answers
The Four P’s
COMPREHENSION
A. P 29
1. What is marketing?
marketing means the movement of goods and services from manufacturer
to customer in order to satisfy the customer and to achieve the company's
objectives.
2. Personal Answer
3. What are the four main elements of marketing?
product, price, placement, and promotion
4. What’s involved in the product element of marketing?
It involves
a. research and development (R&D) of a new product,
b. research of the potential market,
c. testing of the product to insure quality,
d. and then introduction to the market
5. What are the three pricing options that a company may take?
a. Below the average price
b. With the average price
c. Above the average price
6. Answers vary
7. What does placement involve?
Placement involves getting the product to the customer.
8. Do you think McDonald’s provide food on a wholesale or retail basis?
McDonald’s provide food on a retail basis
9. Answers vary
10. Personal question
B. p 29
1. The four main elements of marketing are popularly known as
b. the Four P’s
2. The product element refers to
d. the good or service that a company wants to sell.
3. Most companies price
a. with the market
4. A common channel of distribution is
e. Manufacturer→ wholesaler→ retailer →customer
5. The two major forms of promotion are
b. Personal selling and advertising
VOCABULARY
B. P 30
Term
Synonym/ definition
Insure
Guarantee
Retailer
One who sells small amounts to customers
Price with the market
Charge an average price.
Option
Choice
Competitor
Rival; opponent
Personal
Private; relating to an individual
Objective
Goal
Satisfy
Please
Take place
Occur, happen
Channel of distribution The path goods take when moving from manufacturer
to customer
Charge
Set a price
Achieve
Accomplish
C. P 30
The most common channel of distribution is Manufacturer→ wholesaler→ retailer
→customer. Distributions can, however, take place through slightly modified
channels. For example, products are sometimes sold directly by the wholesaler or
the manufacturer, rather than by the retailer. Generally, wholesalers charge lower
prices than retailers and sell in large quantities. Together, these channels of
distribution play a vital role in the placement element of marketing.
The Target Market
Vocabulary
Nouns
Strategy
Verbs
Determine
Adjectives
Potential
Isolation
Focus on
correct
Combination
Marketing mix
Direct
Appeal to
Target market
Market
research
Habit
Identification
Attempt
Match
Mold
Depend on
Blend
Reach
Others
In order to
Comprehension A
1. What is the market mix?
The combination of price, product, placement and production.
2. What do the elements of marketing focus on?
The elements of marketing focus on the consumer.
3. What is the group of customers who will probably buy the
product known as?
The group of customers who will probably buy the product
known as is known as the target market.
4. Why are the customers who make up the target market for a
product known as “potential” customers?
Probably because they are not known yet.
Comprehension A Cont.
5. What does successful marketing mix depend on?
A successful marketing mix depends on knowledge about
consumers and their buying habits, gained through market
research as well as correct identification of the target market.
Comprehension A Cont.
6. Elements of marketing mix
Price
Promotion
Consume
r
Placment
Product
Comprehension A Cont.
7. Why are the arrows two-way rather than just one way?
Because the relation is two way.
8. Why are consumers in the center of the diagram?
Because they are the most important factor that affects all other
factors.
Ex B p37
2.The company focuses on production in its marketing strategy.
F: The company focuses on the four elements of product, price, placement
and promotion in its marketing strategy.
3. Product and promotion combine to form the complete marketing mix.
F: Marketing mix contains the elements of product, price, placement and
promotion.
4.The company directs its marketing efforts towards the target market.
T
5. The marketing strategies of product, price, placement and promotion
are planned separately.
F: Strategies of product, price, placement and promotion are blended to
reach a chosen group of customers.
Vocabulary A p 37
2. A successful company relies on good promotion to
communicate with customers, _______
Answer: depends on
3. Comes into the homes
Answer: reaches
4. Concentrate on
Answer: focus on
5. Try to
Answer” attempt
Vocabulary A p 37 Cont.
6. Puts together
Answer: Matches
7. Pans of action
Answer: Strategies
8. To
Answer: in order to
Vocabulary B p 38
1b. When an employee joins a large company, he or she is given an ______card.
Identification
2a. Advertising agencies are concerned with the _____ of a product.
promotion
2b. Last week, the boss ________John because of his outstanding work in the
accounting department.
promoted
3a. In the market place, businesses _______ with each other.
compete
3b. Sony is a major ______ of General electric.
competitor
4a. The combination of the four Ps __________ the marketing mix.
determines
Vocabulary B p 38
4b. An accountant makes an accurate _________ of the
expenses of the company.
determination
5a. Strategies of product, price, placement and promotion are
not planned in __________ .
isolation
5b. The company doctor ______ the sick employee in the
room at the end of the hall.
isolated
Exercise 1 P 39
Pronoun
Line (in text)
Referent
This combination
3
Price, product, placement and promotion
This group
11
The group of customers who will buy the
product (Target Market)
Who
11
Potential customers
They
12
Market researchers