TEXT C The Product Life Cycle

recoup, customers, attracted, flow, reaction, continues, products, provided, emerge, fade, described, develop, cyclical, product, tested, during, queue, sales, obliged, persuade, attitude, bound, reach, careful,

trend-setters.

Much of the world about us is (1)……………. in nature. The moon circles the earth every 24 hours. The earth takes 365 1/4 days to circle the sun.

The flowers in the garden bloom in the summer, (2) ……………in the autumn, die in the winter only to (3)……. again the following spring. In much the same way, industrial (4) …………… have a life cycle.

The original ideas may come from either the marketing or the production side. Interaction (5) ……………as the market is (6) …………… and designs are modified. Eventually the (7) …………… is ready for the

market.

The first stage entails introducing the product to the market. No one will know about our wonderful new creation unless we tell them about it. So this is when we are (8) ……………to spend money on advertising. One way or another we must (9) ……………potential customers to «taste our wares». At this stage the people who buy the product are often aptly (10) …………… as (11) …………… or innovators. Their (12) …………… is often, «I'll be one of the first ones to have this.»

At the second stage the sales grow and our organization begins to(13) …………… some of the expenditure incurred (14) …………… the development stage. We also begin to benefit as many of the people who buy the product at this stage will be saying, «I mustn't get left behind.»

A problem may (15) …………… as sales outstrip the supplies coming from the factory, but the (16) …………… will be keener than ever to buy because it is obvious there is a growing demand for our product. It

is the same (17) …………… as when you go to the cinema. If there was a long (18) …………… outside the cinema you would think it was going to be a good film. Conversely, if there was hardly anyone in the cinema you would think it was going to be boring.

In the third stage the product is said to (19) …………… maturity. At this time sales reach a peak. People will have got used to buying the product. There will be repeat purchases. Some will say, «We always buy these.»

However, the time will come when (20) ……………begin to decline. Customers will be (21) ……………to other products, perhaps (22) …………… by competitors. By then we should have (23) ……………a new product which we can now introduce. By(24) ……………timing of new products we can hope to maintain a steady (25) ……………of revenue and profits. So, products have a finite life cycle consisting of four stages: introduction, growth, maturity and decline.

XVII. Below are listed statements that describe different aspects of the four stages in the product life cycle (introduction, growth, maturity, decline ). Decide which stage is being described in each statement below.

1. To discourage competitive entry a company can price low, referred to as penetration. ……………

2. Promotional expenses at this stage are often directed towards contests or games to keep people using the product. ……………

3. Sales increase because of new users and a growing proportion of repeat purchasers. ……………

4. Sales and profits drop steadily. ……………

5. Often this stage is entered because of environmental or technological factors. ……………

6. Sales grow slowly and there is little profit, often a result of large investment cost. ……………

7. Emphasis of advertising shifts to selective demand. ……………

8. Profit declines since the cost of gaining each new buyer at this tage is greater than the incremental revenue. ……………

XVIII. Complete the sentences with terms from the list:

appeal, consumers, decision-making, development, extend, markets, penetration, portfolio, positioning, potential, quality, research, return.

1. Managers have to understand the……………of their products.

2. Most companies produce many different products and services. Together this is called the product …….

3. Companies market products at particular groups of consumers, the product is matched to the consumer. This is called product …………………

4. Product management is about getting the maximum…………….. from each product.

5. A key objective is to get to maximum market ………… which means reaching the most …………..

6. Another important objective is to__________ the life of the product. The typical life cycle diagram then shows a wave effect.

7. This is possible if the product_________ is good. This means changing or improving the product, to add to its ……………. and ……………….

8. Managers also try to find new……………for their products.

9. In all cases, product management needs good……………to help.

GRAMMAR

I. Translate into Ukrainian stating the functions of the Gerund:

1. Advertising is only one part of the marketing mix.

2. Our aim is attracting more customers.

3. We try selling a small consignment of goods.

4. The producer is always in the process of trying to analyze his/ her competitors.

5. One advertiser succeeded admirably in this by labeling his extremely expensive product.

II. Place the following verbs into the correct column:

admit, agree, aim, avoid, appear, arrange, ask, can't face, attempt, beg, can't help, can't afford, can't wait, can't resist, can't stand, choose, claim, decide, demand, carry on, desire, consider, delay, expect, deny, detest, dislike, fail, guarantee, happen, help, enjoy, excuse, hope, manage, offer, finish, give up, plan, pretend, promise, imagine, prove, refuse, seem, tend, involve, justify, keep (on), turn out, threaten, undertake, mind, postpone, practise, want, put off, risk, save, suggest, wish, tolerate.

A. Verbs are followed by B. Verbs are followed by
the Infinitive the Gerund

III. Complete this article from a magazine. Put The Infinitive or The Gerund of these verbs: accept, be, find, insist, lose,plug, repair, say, take, wait, have, argue

If you buy something from a shop, a new stereo for example, you usually can't wait (1) ……………it in and put some music on. And of course, you expect (2) …………… the equipment in working order. But that doesn't always happen, unfortunately. If the thing doesn't work, you should take it straight back to the shop. If you delay (3) ……………it back, you will risk (4) …………… your rights as a customer. And you should prepare (5) ……………on those rights, You may be one of those people who always avoid (6) ……………with people, but in this case you should be ready for an argument. The assistant may prove (7) …………… a true friend of the customer — it's not impossible — but first he or she will probably offer (8) …………… the stereo for you. That's all right if you don't mind (9) ……………a few weeks, but it isn't usually a good idea.

What you should do is politely demand (10) ……………your money back immediately. You may want to accept another stereo in place of old one, but you don't have to. You should refuse (11) …………… a credit note. Just keep on (12) ……………that you want your money back.

V. Put in the correct prepositions: on, of, in, at, for, or to.

1. We are looking forward…..hearing of new products.

2. Ukraine is interested___ importing these goods.

3. We are tired___ not having a place to live.

4. Tom is keen__ studying English.

5. Have you thought___ working abroad?

6. They apologized__ making a mistake.

7. We would have to insist____ his accepting a small salary reduction.

8. I am accustomed…. traveling a lot.

9. Our company has difficulty…… finding new partners.

10. We have succeeded__ ..... entering a new market.

11. I am proud___ living in Ukraine.

12. He was surprised__ seeing them there.

13. The mother objected__ our going out in such a storm.

14. 1 disapprove__ your missing lessons so often.

Date: 2015-01-12; view: 1900