model:
Model: They use the safety deposit boxes very often. - Safety deposit
boxes are used very often by them.
1. Federal government supervises and charters national banks.
2. This bank is asking ten percent interest.
3. The bank requests a financial statement of the company.
4. Their company takes a long-term loan from the Federal Bank.
5. The executive shows the company's expenses.
6. The manager is instructing the secretary.
Ex.3. Answer the questions:
1. Is there a difference between banking systems in Russia and western
countries? If so, what is it?
2. What bank services are you familiar with?
3. Do the banks in this country have safety deposit boxes?
4. Whom do the banks make loans to in this country?
5. What kind of loan would you prefer, long-term loan or short-term loan?
6. What prime-rates are available in this country?
7. What does the line of credit of an enterprise depend on?
8. What is a credit letter written for?
9. What can one do with a credit reference letter?
Ex.4. Translate into English:
1. Государство учреждает коммерческие банки.
2. Если ты хочешь купить товары за границей, ты должен поменять
деньги в отделе обмена валюты.
3. Я бы хотел сделать карьеру в банковском деле.
4. Все банки устанавливают проценты по ссудам.
5. Наш банк намерен предоставить краткосрочную ссуду этому
предприятию.
6. Наименьший процент по ссудам предоставляется
привилегированным клиентам.
7. Банки могут выпускать аккредитивы и рекомендательные
кредитные письма.
8. Я намерен занять крупную сумму денег.
9. Банк считает, что это предприятие платежеспособно и ему можно
предоставить заем.
Grammar Exercises
Ex.1. Make the sentences negative:
Model: This commercial bank had already stopped to exist when the
war started. - This commercial bank hadn't stopped to exist yet
when the war started.
1. He had already changed currency when I rang him up yesterday.
2. They had already chartered the commercial bank when I organised my
private cafe.
3. He had looked over the financial statement by five o'clock yesterday.
4. My brother had made a career in banking when he was 26.
5. He had put all his money on his savings account before the money
reform was introduced.
Ex.2. Put up four questions of different types (general, special,
disjunctive, alternative) to each sentence:
Model: They had written a credit reference letter before he left abroad.
1. Had they written a credit reference letter before he left
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abroad?
2. What had they written before he left abroad?
3. They had written a credit reference letter before he left
abroad, hadn't they?
4. Had they written a credit reference letter or a credit letter
before he left abroad?
1. He had been a preferred customer for this bank till his business was
successful.
2. My parents had settled everything connected with insurance before
they retired on pension.
3. He had borrowed the money before I managed to find him.
4. The lawyer had given me investment advice before I asked him about
it.
5. He had arrived at the conclusion to take a long-term loan when I met
him yesterday.
LESS0N 9
PRODUCT DEVELOPMENT AND PLANNING
Text
The number of new products coming into the market of western
countries every year is overwhelming. The major part of these products is
not innovations, but adaptations. It means that these products are not new
ones; they are existing items to which a modification has been made. Only
few products are really original or innovative. For instance a clock-television
is an adaptation, but the TV-set itself, the refrigerator - each was an
innovation. A great number of innovations and adaptations are designed,
produced and marketed by small businesses. Very often a new business is
formed on the basis of the new product. Sometimes there is a patent to make
the business more successful. But it happens very often that market research
hasn't been done carefully, and the business fails.
Even in case larger scale producers do more research and testing there
is no sure success. A promising new product may be also robbed of success
by unreasonable price, inadequate promotion and poor selling methods.
Generally less than one fifth of all new products turn out to be profitable.
Active Vocabulary
number of
product development
innovation
adaptation
item
modification
patent
large scale producer
promising product
unreasonable price
inadequate
число, количество
развитие производства
нововведение, новшество
что-либо переделанное, приспособленное
товар, наименование
модификация, видоизменение
патент
крупный производитель
перспективный продукт
неразумная цена
недостаточный, не соответствующий
требованиям
Comprehension Questions
1. How can you explain the term adaptation?
2. What is an innovation?
3. Give your own examples of innovations and adaptations.
4. Why are many innovations and adaptations manufactured and marketed
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by small businesses?
5. Why is it so important to obtain a patent?
6. Why does the failure of a new product take place?
Vocabulary Practice
Ex.1. Choose the necessary word and put it in the sentence:
1. Though market research tries to predict the
trends, there is no sure....
2. This product isn't original, it is an....
3.... office receives applications from many young
inventors.
4. If the price is..., the product won't be sold out.
5. A clock-television is an adaptation but the
television itself is an....
a. adaptation
b. innovation
c. inadequate
d. patent
e. failure
f. success
g. unreasonable
6. If a sure... is stopped, money and time can be
saved.
7. They failed because of... promotional campaign.
Dialogue
Dick and Jack are having lunch. Dick is Vice President in charge of
Product Development. And Jack is Vice President in charge of the Legal
Department.
Dick: How are the things?
Jack: Great. We are busy with a new line of clock-television.
Dick: Sounds interesting. Are you going to apply for a patent soon?
Jack: Yes, we are. We are preparing the necessary papers now.
Dick: And what did the Market Research say by the way?
Jack: They think there is fair market for the product at the moment but it
will take a few years to catch on.
Dick: I see. We'll have to run a good promotional campaign.
Jack: Without doubt.
Dick: Well, it will be our advantage to have the patent on it as well. You
have decided on the size, haven't you?
Jack: We'll start with a small screen model. It will have a wake-up button
and go-to sleep button with timers. Market Research says that the
automatic go-to-sleep button may be the big selling point.
Dick: Yes. The idea of a set that turns itself off is great. To tell you the truth
I'm always falling asleep in the middle of the show. Now it can be
done away with.
Jack: Well. In future we'll probably expand the line to include different size
screens and colour.
Dick: That's good.
Jack: I think we are close to a big success.
Dick: That is why we must be very careful. Before we begin to market
television we must fulfill the most complete testing.
Jack: You are right.
Dick: What about the pricing? Has it been worked out?
Jack: Not completely. Market Research Department says we can't have too
high price on this kind of item.
Dick: It's evident we must be very careful. Maybe this time consumers will
really surprise us.
Jack: Let's hope for the best.
Active Vocabulary
to apply for a patent
fair market
to catch on
to be a big selling point
to fulfill the testing
to market
подать заявление на патент
зд. благоприятные рыночные условия
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стать модным
быть притягательным для покупателей
завершить исследование
продавать
Vocabulary Practice
Ex.1. Change the sentences according to the model:
Model: We must fulfill complete testing. - Complete testing must be
fulfilled.
1. They must expand the line.
2. You could apply for a patent.
3. They should work out the details.
4. I must develop a new trend.
5. We should design a line of clock-television.
6. You should start market research.
Ex.2. Answer the questions:
1. Why is it so important for a producer to apply for a patent?
2. How much time does it usually take for a new product to catch on?
3. What is a big selling point of the items which you produce?
4. In what way can a consumer surprise the producer?
5. Would you like to produce something original or an adaptation? Explain
why.
6. What are the conditions of successful product development?
7. What products are the market conditions fair for in this country?
Ex.3. Translate into English:
1. Этот продукт - модификация старого.
2. Мелкие производители выпускают большое количество товаров.
3. Вам необходимо получить патент на производство данного товара.
4. Тщательное исследование рынка необходимо, чтобы гарантировать
успех.
5. Потребуется пять лет на то, чтобы ваш продукт завоевал признание.
6. Отключающее устройство с таймером - именно то, что привлечет
потребителя.
7. Надо завершить все исследования, прежде чем мы начнем
продавать наш продукт.
8. Нам необходимо расширить линию.