Exercise 3. Match the words with the correct definition from the list below:
manufacture, service, money spinner, withdraw, merchandise, product life cycle, profitable, loss leader;
1. the idea that the sale of a production goes through 4 phases: introduction, growth;
2. maturity, and decline;
3. something that earns a lot of money;
4. a product sold at a loss to encourage trade;
5. bringing in more money than in spent;
6. to take something back;
7. the job that an organization does;
8. to make goods to sell from raw material;
9. goods for sale.
Exercise 4. Put the necessary word in the sentences:
to persuade, manufactured, product life cycle, profitable, loss leader (2), the merchandise, fast-moving money spinner.
1. The book could be a real … .
2. Soap, toothpaste, batteries and light bulbs are all … consumer goods.
3. You are welcome to examine … before buying.
4. Shops use … to attract customers.
5. This deal should be lightly … .
6. Fashion goods have short … .
7. These goods were … in France.
8. In Great Britain supermarkets sometimes sell top branches below cost as …
9. Trained staff is trying … customers to spend far more.
Exercise 5. Answer the following questions:
1. What makes the business world?
2. How can a product be characterized?
3. What two general categories may products be grouped into?
4. What are the services?
5. If a products generates a lot of profit is it a money spinner or a loss leader?
6. What purpose is a loss leader used for?
7. Why must firms introduce new products?
Exercise 6. Sum up what you remember about:
- products and services;
- different kinds of goods.