Part One Questions 1-7. 21 points
Read the following passage and then match the statements 1-7 to the letter A, B, C or D.
In addition to categorizing by type of offering, most products intended for consumer use can be further categorized by how frequently and where they are purchased.
Convenience Products – These are products that appeal to a very large market segment. They are generally consumed regularly and purchased frequently. Examples include most household items such as food, cleaning products, and personal care products. Because of the high purchase volume, pricing per item tends to be relatively low and consumers often see little value in shopping around since additional effort yields minimal savings. From the marketer’s perspective the low price of convenience products means that profit per unit sold is very low. In order to make high profits marketers must sell in large volume. Consequently, marketers attempt to distribute these products in mass through as many retail outlets as possible.
Shopping Products – These are products consumers purchase and consume on a less frequent schedule compared to convenience products. Consumers are willing to spend more time locating these products since they are relatively more expensive than convenience products and because these may possess additional psychological benefits for the purchaser, such as raising their perceived status level within their social group. Examples include many clothing products, personal services, electronic products, and household furnishings. Because consumers are purchasing less frequently and are willing to shop to locate these products, the target market is much smaller than that of convenience goods. Consequently, marketers often are more selective when choosing distribution outlets to sell their products.
Specialty Products – These are products that tend to carry a high price tag relative to convenience and shopping products. Consumption may occur at about the same rate as shopping products but consumers are much more selective. In fact, in many cases consumers know in advance which product they prefer and will not shop to compare products. But they may shop at retailers that provide the best value. Examples include high-end luxury automobiles, expensive champagne, and celebrity hair care experts. The target markets are generally very small and outlets selling the products are very limited to the point of being exclusive.
In addition to the three main categories above, products are classified in at least two additional ways:
Emergency Products – These are products a customer seeks due to sudden events and for which pre-purchase planning is not considered. Often the decision is one of convenience e.g., whatever works to fix a problem or personal fulfillment e.g., perceived to improve purchaser’s image.
Unsought Products – These are products whose purchase is unplanned by the consumer but occurs as a result of marketer’s actions. Such purchase decisions are made when the customer is exposed to promotional activity, such as a salesperson’s persuasion or purchase incentives like special discounts offered to certain online shoppers. These promotional activities often lead customers to engage in Impulse Purchasing.
1. In order to make high profits, marketers must sell in large volume of these products.
2. These products tend to carry a higher price tag than the other two main types of products.
3. Customers buy these products when they are exposed to promotional activities.
4. Consumers are willing to spend more time locating these products both because they are more expensive and possess additional psychological benefits.
5. Customers buy these products because of sudden events.
6. In many cases consumers know in advance which product they prefer and will not shop to compare products.
7. Most household items such as food and cleaning products belong to this group.
Part Two Questions 8-14. 21 points
Read the following passage and choose the best sentence A-H to fill each of the gaps. There is one extra sentence.
Types of International Business
Merchandise Exports and Imports
Merchandise exports are goods sent out of a country, whereas merchandise imports are goods brought in. Since these are tangible goods that visibly leave and enter countries, they are sometimes referred to as visible exports and imports. 8……….
Exporting and / or importing of goods are the major sources of international revenue and expenditure for most countries. Among companies engaged in some form of international business, more are involved in importing and exporting than in any other type of transaction.
Importing and or exporting is usually, but not always, the first type of foreign operations in which a firm gets involved. 9………. For example, firms may be able to export by using excess capacity thus limiting the need to invest more capital. Firms may be able to use the services of trade intermediaries who, for a fee, will take on the export-import functions, thus eliminating the need to have trained personnel and a department to carry out foreign sales or purchases.
Service Exports and Imports
Service exports and imports refer to international earnings other than those from goods sent to another country. 10……….Services are also referred to as invisible. International business comprises many different types of services.
A. Travel, Tourism, and Transportation
Earnings from transportation and from foreign travel can be an important source of revenue for international airlines, shipping companies, reservation agencies, and hotels. 11………. The Bahamas earns much more from foreign tourists than it earns from exporting merchandise.
B. Performance of Activities Abroad
12………. Engineering services are often handled through turn-key operations, contracts for the construction of operating facilities that are transferred to the owner when the facilities are ready to begin operations. Fees for management services are often the result of management contracts, arrangements through which one firm provides management personnel to perform general or specialized management functions for another firm.
C. Use of Assets From Abroad
Royalties are the payment for use of assets from abroad, such as for trademarks, patents, copyrights, or other expertise under contracts known as licensing agreements. 13……….In addition, the franchisor assists on a continuing basis in the operation of the business, such as by providing components, managerial services, or technology.
Firms often move to foreign licensing or franchising after successfully building exports to a market. 14……….The greater involvement occurs because the firm commonly has to send technicians to the foreign country to assist the licensee or franchisee in establishing and adapting its production facilities for the new product.
A On a national level, such countries as Greece and Norway depend heavily on revenue collected from carrying foreign cargo on their ships.
B This move usually involves a greater international commitment than in the early stages of exporting.
C This is because at an early stage of international involvement these operations usually take the least commitment and least risk of a firm’s resources.
D Fees are payments for the performance of certain activities abroad, such services as banking, insurance, rentals e.g. the Star Wars film, engineering, and management.
E When two or more organizations share in the ownership of a direct investment, the operation is known as a joint venture.
F The terms exports or imports are used frequently yet in reality the reference is only to the merchandise exports or imports.
G Royalties are also paid for franchising, a way of doing business in which one party the franchisor sells an independent party the franchisee the use of a trademark that is an essential asset for the franchisee’s business.
H Receipt of these earnings is considered a service export, whereas payment is considered a service import.
Part Three Questions 15-20. 18 points
Read the following passage and choose the best statement A, B, C or D for each question.
Criticisms of Marketing
While marketing is viewed as offering significant benefits to organizations and to society, the fact that marketing is a business function operating in close contact with the public opens this functional area to extensive criticism. Among the issues cited by those who criticize marketing are:
Marketing Encourages People to Purchase What They Do Not Need
Possibly the criticism most frequently made about marketing is that marketers are only concerned with getting customers to buy whether they want the product or not. The root of this argument stems from the belief that marketers are only out to satisfy their own needs and really do not care about the needs of their customers.
As we will discuss, while many marketers are guilty of manipulating customers into making unwanted purchases, the vast majority understand that undertaking such tactics will not lead to loyal customers and, consequently, is unlikely to lead to longer term success.
Marketers Embellish Product Claims
Marketers are often criticized for exaggerating the benefits offered by their products. This is especially the case with the part of marketing that engages in customer communication, such as advertising and salespeople. The most serious problems arise when product claims are seen as misleading customers into believing a product can offer a certain level of value that, in fact, it cannot.
But sometimes there is a fine line between what a rational person should accept as a “reasonable exaggeration” and what is considered downright misleading. Fortunately, many countries offer customers some level of protection from misleading claims since such business practices may subject the marketer to legal action. Again, using such tactics is likely to lead to marketing failure as customers will not be satisfied and will likely not return.
Marketing Discriminates in Customer Selection
We will see that a key to marketing success is to engage in a deliberate process that identifies customers who offer marketers the best chance for satisfying organizational objectives. This method, called target marketing, often drives most marketing decisions, including product development and price setting. But some argue that target marketing leads marketers to focus their efforts primarily on customers who have the financial means to make more expensive purchases. They contend that doing so intentionally discriminates against others, especially lower income customers who cannot afford to purchase higher priced products. This group ends up being targeted with lower quality and in some cases less safe products or for some groups, no product options.
While this criticism is often valid, it is worth noting that while many “lower quality” products are inferior to current high-end products, comparison of their quality to similar products from just a few years ago shows there has been significant improvement. For instance, low cost electronic equipment, such as digital cameras, offer more features compared to low cost cameras of just a few years ago. Thus, while certain customer groups may not be the target market for certain new product offerings they may eventually benefit from higher-end products.
15. It is widely believed while doing marketing, __________.
A. marketers concern the needs of their customers most
B. marketers are only out to satisfy their own needs
C. marketers often encourage people to buy what they want
D. marketers have no discrimination against some people
16. The underlined word “Embellish” in the second subheading probably means __________.
17. The most serious problem about product claims is __________.
A. people are misled into believing a product can offer a certain level of value that, in fact, it cannot
B. products are reasonably exaggerated
C. some people are excluded from buying higher-end products
D. marketers making misleading claims would face legal action
18. Marketing decisions such as product development and price setting are often made based on __________.
A. the opinions of the marketers
B. a process called target marketing
C. the criticism from the public
D. the preference of the customers
19. The target customers of marketing are often those __________.
A. who have lower incomes
B. who benefit from higher-end products
C. who contend that target marketing intentionally discriminates against others
D. who have the financial means to make more expensive purchases
20. According to the writer, __________.
A. most marketers know the negative effect of manipulating customers into making unwanted purchases
B. exaggerating the benefits of products is unlikely to lead to marketing failure
C. low income customers can only afford low quality products
D. customers have no ways to protect themselves from misleading claims
Part Four Questions 21-35. 15 points
Read the following passage and fill each gap with the best word A, B, C or D.
Global Economic Outlook 2013
The global economy has yet to shake 21………the fallout from the crisis of 2008-2009. Global growth dropped to almost 3 percent in 2012, which indicates that about half a percentage point has been shaved off the long-term trend 22………the crisis emerged. This slowing trend will likely continue. Mature economies are still healing the scars of the 2008-2009 crisis. But unlike in 2010 and 2011, emerging markets did not pick up the slack in 2012, and 23………do so in 2013. Uncertainty across the regions – from the post-election ‘fiscal debate’ question in the U.S. 24………the Chinese leadership transition and reforms in the Euro Area – will continue to have global impacts in sluggish trade and tepid foreign direct investment.
l Across the advanced economies, the Outlook predicts a 1.2 percent 25………in 2013, compared to 1.1 percent in 2012. The slight uptick is largely due to Europe, which is expected to return to very slow growth of 0.3 percent after the -0.2 percent contraction in 2012. U.S. growth is 26………to fall from 2.2 percent in 2012 to 1.6 percent in 2013.
l In the medium-term, the outlook expects the U.S. and other advanced economies to go some ways toward closing large output gaps –27………, the difference between current output and the level of output an economy can produce in a noninflationary way, given the size of its labor 28………and its potential to invest in and create technological progress. The current output gap is a result of weak demand 29………the 2008-2009 crisis. This development should allow the U.S. to average 2.3 percent annual growth during 2013-2018 before 30………to 2.0 percent in 2019-2025. In the same two periods, Japan is expected to grow at 0.9 percent per annum.
l A more significant slowdown is expected for less mature 31………over the next year – and beyond. Overall, growth in developing and emerging economies is projected to 32………from 5.5 percent in 2012 to 5.0 percent in 2013, with growth falling in China from 7.8 to 7.5 percent and in India from 5.5 to 4.7 percent. From 2019-2025 emerging and developing countries are projected to grow 33………3.3 percent.
l The long-term global slowdown we project to 2025 will be driven largely 34………structural transformations in the emerging economies. As China, India, Brazil, and others mature from rapid, investment-intensive ‘catch-up’ growth to a more balanced model, the structural ‘speed limits’ of their economies are 35………to decline, bringing down global growth despite the recovery we expect in advanced economies after 2013.
21. A. off B. away C. of D. down
22. A. when B. before C. after D. since
23. A. didn’t B. won’t C. doesn’t D. don’t
24. A. until B. by C. to D. but
25. A. growth B. decrease C. arise D. steady
26. A. hoped B. excepted C. expected D. doomed
27. A. however B. that is C. moreover D. roughly
28. A. power B. class C. group D. force
29. A. contributed to B. due to C. because D. causing
30. A. falling B. drop C. falls D. increasing
31. A. countries B. teams C. economies D. societies
32. A. drop B. rise C. fell D. level off
33. A. of B. by C. from D. at
34. A. with B. by C. of D. from
35. A. possible B. like C. likely D. impossible
Part Five Questions 36-40 10 points
Match the English words on the left with the Chinese words on the right. 2 points each
36. proprietorship a. 实体
37. partnership b. 追求
38. entity c. 合伙企业
39. pursue d. 使缩小
40. shrink e. 独资企业
Part Six Translation
41.Translate the following paragraphs into Chinese. 15 points
Many small companies have also established online stores for group buying, which enable customers to obtain goods at a discount so long as a certain number of people make the purchases. China had about 4,000 group-buying websites in December, up from 2,630 in January 2011.
"About 1 million small companies were brought into the e-commerce market through online group buying last year," an analyst with the research firm Analysys International said.
"Shopping centers, whole sale markets and supermarkets should create online stores to reduce their costs and develop product-tracking systems," the Ministry of Industry and Information Technology said.
"E-tickets are something else that the government will place a greater emphasis on to improve the country's public transport system."
Part One 21points
1 A 2 C 3 D 4 B 5 D 6 C 7 A
Part Two 21 points
8 F 9 C 10 H 11 A 12 D 13 G 14 B
Part Three 18 points
15 B 16 C 17 A 18 B 19D 20 A
Part Four 15 points
21 A 22 D 23 B 24 C 25 A
26 C 27 B 28 D 29 B 30 A
31 C 32 A 33 D 34 B 35 C
Part Five 10 points
1.e 2. c 3. a 4. b 5. d
Part Six 15 points