Centro Tecnológico de Baranoa: CENTEBA

Class #

Subject: English. Teacher: Yulieth Stefanny González Cabarcas.

Full Name: _______________________________ Date: __________________

1. Translate the following texts presented below with help of dictionary.

2. Use the dictionary for traslate the vocabulary.
3. Constructs a short paragraph with the vocabulary studied in class and
read your classmates.

Vocabulary.

marketing
The process of planning, pricing, promoting, selling, and distributing products to satisfy
customers' needs and wants.

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Goods
Tangible items of monetary value that satisfy needs and wants

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Services
intangible items of monetary value that satisfy needs and wants

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Utility
An attribute of a product or service that makes it capable of satisfying consumers' wants
and needs.

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Market
People who share similar needs and wants and are capable of buying products.

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consumer market
Consumers who purchase goods and services for personal use.

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industrial market
Businesses that buy products to use in their operations; also called the business-to-
business market.

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market share
A company's percentage of total sales volume generated by all competition in a given
market.

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target market
A group of people identified as those most likely to become customers.

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customer profile
A list of information about a target market, such as age, income level, ethnicity,
occupation, attitudes, lifestyle, and geographic residence.

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marketing mix
The four basic marketing strategies, called the four Ps: product, place, price, and
promotion.

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marketing plan
A formal written document communicating the goals, objectives, and strategies of a
company

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executive summary
A brief overview of an entire marketing plan.

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situation analysis
The study of the internal and external factors that affect marketing strategies.

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marketing strategy
Identification of target markets and determination of marketing mix choices that focus on
those markets.
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sales forecasts
The projection of probable future sales in units or dollars.

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performance standards
An expectation of performance that reflects a company's goals and marketing plan
objectives.

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market segmentation
The process of analyzing and classifying customers in a given market to create smaller,
more precise target markets.

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demographics
Statistics that describe a population in terms of personal characteristics such as age,
gender, income, marital status, ethnicity, education, and occupation.

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disposable income
The money left over after taxes are taken out of a consumer's income.

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discretionary income
The money left over from a consumer's income after paying for basic living necessities such
as food, shelter, and clothing.

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geographics
Segmentation of the market based on where people live.

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pyschographics
Studies of consumers based on social and psychological characteristics

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mass marketing
Use of a single marketing plan to reach all customers.
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factors of production
Economic term for the four categories of resources: land, labor, capital, and
entrepreneurship.

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infrastructure
The physical development of a country, including its roads, ports, sanitation facilities, and
utilities.

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entrepreneurship
The process of starting and operating your own business.

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scarcity
The difference between what consumers want and need and what the available resources
are.

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traditional economy
The answers to the basic economic questions of what, how, and for whom are based on
traditions and rituals.

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command economy
An economic system in which the government decides what, when, and how much will be
produced and distributed.

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gross domestic product (GDP)

The output of goods and services produced by labor and property located within a nation.

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gross national product (GNP)

The total dollar value of goods and services produced by a nation.

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inflation
a period of rising prices
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consumer price index (CPI)

Measurement of the change in price over a period of time of approximately 400 retail
goods and services used by the average urban household.

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producer price index (PPI)

Measurement of wholesale price levels in the economy.

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business cycle
Recurring changes in economic activity, such as the expansion and contraction of an
economy; expansion, peak, recession, trough, and recovery

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expansion
A time when the economy is flourishing; also called prosperity.

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recession
A period of economic slowdown that lasts for two quarters, or six months.

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depression
A period of prolonged recession.

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recovery
A period of renewed economic growth followed by a recession or depression.

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exports
Goods and services sold to other countries.

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balance of trade
The difference in value between a nation's exports and its imports.

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free trade
Commercial exchange between nations that is conducted on free market principles,
without tariffs, import quotas, or other restrictive regulations.

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tariff
A tax on imports; also known as a duty.

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quota
A limit on either the quantity or monetary value of a product that may be imported.

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embargo
A total ban on specific goods coming into and leaving a country.

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protectionism
A total ban on specific goods coming into and leaving a country.

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World Trade Organization (WTO)

A global coalition of more than 140 governments that makes rules governing international
trade.

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North American Free Trade Agreement (NAFTA)

An international trade agreement among the United States, Canada, and Mexico.

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European Union (EU)

European trading bloc

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licensing
The process of letting another company (licensee) use a trademark, patent, special
formula, company name, or some other intellectual property for a fee or royalty.

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contract manufacturing
The process of hiring a foreign manufacturer to make products according to certain
specifications.

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joint venture
A business enterprise that different companies set up together; often, the venture involves
a domestic company and a foreign company.

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foreign direct investment (FDI)

Investments in factories, offices, and other facilities in another country that are used for a
business's operations.

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multinationals
large corporations that have operations in multiple countries

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mini-nationals
Midsize or smaller companies that have operations in multiple countries.

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globalization
The process of selling the same product and using the same promotion methods in all
countries.

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adaptation
Changing an existing product and/or promotion to better suit the characteristics of a
targeted country or region.

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customization
The process of creating products or promotions for certain countries or regions.

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trademark
A brand name, brand mark, trade name, trade character, or a combination of these
elements that is given legal protection by the federal government.
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copyright
The exclusive right to reproduce or sell a work authored by an individual, such as writings,
music, and artwork.

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competition
The struggle between companies to attract new customers, keep existing ones, and take
away customers from other companies.

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price competition
The sale price of a product; the assumption is that consumers will buy the product with the
lowest price.

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non-price competition
Competition based on factors that are not related to price, such as product quality, service
and financing, business location, and reputation.

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monopoly
Exclusive control over a product or the means of producing it.

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nonprofit
An organization that can function like a business but uses the money it makes to fund the
cause identified in its charter.

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business risk
The possibility of financial loss.

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profit
The money earned from conducting business after all costs and expenses have been paid.

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supply
The amount of goods producers are willing to make and sell.
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demand
Consumer willingness and ability to buy products.

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domestic business
A business that sells its products only in its own country.

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global business
A business that sells its products to more than one country.

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for-profit business
A business that seeks to make a profit from its operations.

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non profit organization

An organization that can function like a business but uses the money it makes to fund the
cause identified in its charter.

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public sector
Local, state, and federal government agencies and services, such as public libraries and
state universities.

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industry
A group of establishments primarily engaged in producing or handling the same product or
group of products or in rendering the same services.

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derived demand
The demand for industrial goods based on the demand for consumer goods and services.

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wholesalers
Channel of distribution that obtains goods from manufacturers and resells them to
industrial users, other wholesalers, and retailers.
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retailers
Channel of distribution that buys goods from wholesalers or directly from manufacturers
and resells them to the consumer

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production
The process of creating, expanding, manufacturing, or improving on goods and services.

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management
The business function of planning, organizing, and controlling all available resources to
achieve company goals.

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finance
A business function that involves money management.

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accounting
The discipline that keeps track of a company's financial situation.

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equal employment opportunity commission (EEOC)

Federal agency responsible for the fair and equitable treatment of employees with regard
to hiring, firing, and promotions.

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Occupational Safety and Health Admin (OSHA)

Federal agency that provides guidelines for workplace safety and enforces those
regulations.

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Securities and Exchange Commission (SEC)

Federal agency that regulates the sale of securities (stocks and bonds), licenses brokerage
firms and financial advisers, and investigates dealings among corporations.

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Environmental Protection Agency (EPA)

Federal agency that protects human health and our environment.
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Federal Trade Commission (FTC)

Federal agency responsible for enforcing the principles of a free enterprise system and
protecting consumers from unfair or deceptive business practices.

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flextime
A program that allows workers to choose their work hours

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telecommuting
A program that involves working at home, usually on a computer, with completed jobs
transmitted by e-mail or mail-in disk

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Ad Council
A nonprofit organization that helps produce public service advertising campaigns for
government agencies and other qualified sponsors.

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green marketing
Producing and promoting environmentally safe products

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ethics
Basic values and moral principles that guide the behavior of individuals and groups.

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Better Business Bureau (BBB)

One of the oldest nonprofit organizations that establishes self-regulation among
businesses.

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price gouging
Pricing products unreasonably high when there is a high demand resulting from a
monopoly or a natural disaster.

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whistle-blowing
Reporting an illegal action by one's employer.
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feedback
A receiver's response to a message.

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barriers
Obstacles that interfere with the understanding of a message

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distractions
Things that compete with the message for the listener's attention.

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emotional barriers
Biases against the sender's opinions that prevent a listener from understanding.

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jargon
Specialized vocabulary used by members of a particular group.

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persuade
The process used to convince someone to change a perception in order to get them to do
what you want.

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enumeration
listing items in order

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generalization
a statement that is accepted as true by most people

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spreadsheet programs
Software applications used to organize, calculate, and analyze numerical data.

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desktop publishing programs
A software application that is part word processor and part graphics application, and
enables users to edit and manipulate both text and graphics in one document.

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communications programs
Software applications that enable users to electronically communicate through computers
with people around the world.

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ethics
Basic values and moral principles that guide the behavior of individuals and groups.

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equity
The concept of equal rights and opportunities for everyone.

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negotiation
The process of working with different parties to find a resolution to their conflict.

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empathy
An understanding of a person's situation or frame of mind