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A、externalities will be present
B、production of the product has no cost
C、government should not intervene to produce the product
D、private companies will eventually produce the product, and the good will no longer be free
The importance of the product life cycle to marketers is this: Different stages in the product life cycle call for different strategies. The goal is to extend product life so that sales and profits do not decline. One strategy is called market modification. It means that marketing managers look for new users and market sections. Did you know, for example, that the backpacks that so many students carry today were originally designed for the military？
Market modification also means searching for increased usage among present customers or going for a different market, such as senior citizens. A marketer may re-position the product to appeal to new market sections.
Another product extension Strategy is called product modification. It involves changing product quality, features, or style. to attract new users or more usage from present users. American auto manufacturers are using quality improvement as one way to recapture world markets. Note, also, how auto manufacturers once changed styles dramatically from year to year to keep demand from falling.
According to the passage, when people grow fond of one particular brand of a product, its sales will______.
A．decrease gradually
B．remain at the same level
C．become unstable
D．improve enormously
The importance of the product life cycle to marketers is this: Different stages in the product life cycle call for different strategies. The goal is to extend product life so that sales and profits do not decline. One strategy is called market modification. It means that marketing managers look for new users and market sections. Did you know, for example, that the backpacks that so many students carry today were originally designed for the military？
Market modification also means searching for increased usage among present customers or going for a different market, such as senior citizens. A marketer may re-position the product to appeal to new market sections.
Another product extension strategy is called product modification. It involves changing product quality, features, or style. to attract new users or more usage from present users. American auto manufacturers are using quality improvement as one way to recapture world markets. Note, also, how auto manufacturers once changed styles dramatically from year to year to keep demand from falling.
第26题：According to the passage, when people grow fond of one particular brand of a product, its sales will ________.
A) decrease gradually
B) remain at the same level
C) become unstable
D) improve enormously
Initial investment $2 million
Selling price (current price terms) $20 per unit
Expected selling price inflation 3% per year
Variable operating costs (current price terms) $8 per unit
Fixed operating costs (current price terms) $170,000 per year
Expected operating cost inflation 4% per year
The research and development division has prepared the following demand forecast as a result of its test marketing trials. The forecast reflects expected technological change and its effect on the anticipated life-cycle of Product W33.
It is expected that all units of Product W33 produced will be sold, in line with the company’s policy of keeping no inventory of finished goods. No terminal value or machinery scrap value is expected at the end of four years, when production of Product W33 is planned to end. For investment appraisal purposes, PV Co uses a nominal (money) discount rate of 10% per year and a target return on capital employed of 30% per year. Ignore taxation.
Required:
(a) Identify and explain the key stages in the capital investment decision-making process, and the role of
investment appraisal in this process. (7 marks)
(b) Calculate the following values for the investment proposal:
(i) net present value;
(ii) internal rate of return;
(iii) return on capital employed (accounting rate of return) based on average investment; and
(iv) discounted payback period. (13 marks)
(c) Discuss your findings in each section of (b) above and advise whether the investment proposal is financially acceptable. (5 marks)
A、Product Development 产品开发
B、Market Penetration 市场渗透
C、Market Development 市场开拓
D、Diversification 多元化
spotted an opportunity for a new type of gift packaging. This uses a new process to make waterproof cardboard and
then shapes and cuts the card in such a way to produce a container or vase for holding cut flowers. The containers
can be stored flat and in bulk and then simply squeezed to create the flowerpot into which flowers and water are then
put. The potential market for the product is huge. In the UK hospitals alone there are 200,000 bunches of flowers
bought each year for patients. David’s innovative product does away with the need for hospitals to provide and store
glass vases. The paper vases are simple, safe and hygienic. He has also identified two other potential markets; firstly,
the market for fresh flowers supplied by florists and secondly, the corporate gift market where clients such as car
dealers present a new owner with an expensive bunch of flowers when the customer takes delivery of a new car. The
vase can be printed using a customer’s design and logo and creates an opportunity for real differentiation and impact
at sales conferences and other high profile PR events.
David anticipates a rapid growth in Gift Designs as its products become known and appreciated. The key question is
how quickly the company should grow and the types of funding needed to support its growth and development. The
initial financial demands of the business have been quite modest but David has estimated that the business needs
￡500K to support its development over the next two years and is uncertain as to the types of funding best suited to
a new business as it looks to grow rapidly. He understands that business risk and financial risk is not the same thing
and is looking for advice on how he should organise the funding of the business. He is also aware of the need to avoid
reliance on friends and family for funding and to broaden the financial support for the business. Clearly the funding
required would also be affected by the activities David decides to carry out himself and those activities better provided
by external suppliers.
Required:
(a) Provide David with a short report on the key issues he should take into account when developing a strategy
for funding Gift Designs’ growth and development. (10 marks)
[A] You are not alone
[B] Don’t fear responsibility for your life
[C] Pave your own unique path
[D] Most of your fears are unreal
[E] Think about the present moment
[F] Experience helps you grow
[G] There are many things to be grateful for
Unfortunately, life is not a bed of roses. We are going through life facing sad experiences. Moreover, we are grieving various kinds of loss: a friendship, a romantic relationship or a house. Hard times may hold you down at what usually seems like the most inopportune time, but you should remember that they won’t last forever.
When our time of mourning is over, we press forward, stronger with a greater understanding and respect for life. Furthermore, these losses make us mature and eventually move us toward future opportunities for growth and happiness. I want to share these ten old truths I’ve learned along the way.
41._____________________________
Fear is both useful and harmful. This normal human reaction is used to protect us by signaling danger and preparing us to deal with it. Unfortunately, people create inner barriers with a help of exaggerating fears. My favorite actor Will Smith once said, “Fear is not real. It is a product of thoughts you create. Do not misunderstand me. Danger is very real. But fear is a choice.” I do completely agree that fears are just the product of our luxuriant imagination.
42_____________________________
If you are surrounded by problems and cannot stop thinking about the past, try to focus on the present moment. Many of us are weighed down by the past or anxious about the future. You may feel guilt over your past, but you are poisoning the present with the things and circumstances you cannot change. Value the present moment and remember how fortunate you are to be alive. Enjoy the beauty of the world around and keep the eyes open to see the possibilities before you. Happiness is not a point of future and not a moment from the past, but a mindset that can be designed into the present.
43______________________________
Sometimes it is easy to feel bad because you are going through tough times. You can be easily caught up by life problems that you forget to pause and appreciate the things you have. Only strong people prefer to smile and value their life instead of crying and complaining about something.
44________________________________
No matter how isolated you might feel and how serious the situation is, you should always remember that you are not alone. Try to keep in mind that almost everyone respects and wants to help you if you are trying to make a good change in your life, especially your dearest and nearest people. You may have a circle of friends who provide constant good humor, help and companionship. If you have no friends or relatives, try to participate in several online communities, full of people who are always willing to share advice and encouragement.
45________________________________
Today many people find it difficult to trust their own opinion and seek balance by gaining objectivity from external sources. This way you devalue your opinion and show that you are incapable of managing your own life. When you are struggling to achieve something important you should believe in yourself and be sure that your decision is the best. You live in your skin, think your own thoughts, have your own values and make your own choices.
How to Start a Small Business in the US
People from other countries often take America as the "land of opportunity". Americans, too, believe that the country gives no end of chances to those who want to open their own businesses. Today, many Americans are still trying hard to become small business people, although only one out of two remains in operation after the first two years.
Many people start their small businesses for the wrong reasons. They want to get away from the paper work of their present jobs, or to exchange the responsibility of their present jobs for free life styles. But more, not less, paper work and responsibility come with ownership of a small business.
Thomas is the owner of the news magazine Mother Earth, which is now quite successful. He says that he had to work sixty hours without stopping when he was trying to bring out the first issue.
Thomas had waited for years after he came up with the idea for Mother Earth. During that time, he collected as much information as he could about his business. He borrowed books from the library, talked to successful people in the field, and began planning carefully the amount of money and the kinds and numbers of supplies he would need. When he finally opened with a capital of $ 1,500 ,he set up his office in the kitchen and his printing press in the garage. Owing to his devotion(投入)to business, his talent, and his skill in management, Mother Earth now has a circulation(发行量) of 300,000.
Not all small businesses are doing as fine as Mother Earth as 50% of the 450,000 that start in America every year fail. Still, 95% of businesses in the US can be called "small". Altogether these businesses amount to 40% of America's gross national product(国民生产总值).
According to the passage, which of the following is true of the small businesses in the U.S.？
A．All of them close down in the first two years.
B．Most of them fail within the first two years.
C．They all make big profits.
D．Only half of them continue to operate after the first two years.
According to the professor, what would be a good way to sell a product？
A．Design a good logo to present the product to the public
B．Hire a celebrity that customers like and relate to
C．Make it easy for consumers to recognize the packaging
D．Increase the customer service for the product
？For each question 13-18, mark one letter (A, B, C or D).
Effective Product Differentiation
As obvious as it may sound, the truth is there are a lot of businesses out there. The odds of not having any competition are next to impossible, and something any worthwhile business, whether big or small, has to eventually come to accept. Every one of those businesses are trying to do the exact same thing: get people to buy their products. When flooded with so many potential prospects it isn't always easy for the customers to know which business is the best and which one has the best product. What you need to do is help them along.
Differentiating your business and your products from the competition is by far one of the most important details when dealing with any kind of industry. Everything a company does, from the creative ads they run to the inventive promotions they produce to the full color business cards they hand out is geared towards separating themselves from the rest of the flock. If you're going to compete with them you're going to have to do the same, and do it more effectively.
Sometimes the most effective approaches can be some of the most simplistic. Printing well-colored brochures gives a business the chance to show their customers the subtle or not so subtle differences between them and the competition, whether it is better designs, better features, or better prices. Handing them a list of all the products or services you offer allows them the ability to see exactly what they're getting when they do business with you, and the more a customer knows about a business the better the odds are they'll feel comfortable with them.
But, even going beyond the products, boosting up your company can also be an effective tool to place you above the competition. When you hand a person a business card, fully colored with a unique design you're handing them a means to remember you. A business card can say a lot about a person and the business they run. Simple, drab colors can be off putting to the per,son looking for a friendlier business. The right color scheme alone can differentiate you from the competition,and once you've managed to separate yourself out, you'll be in a prime position to be who the person favors when they need that specific product.
With competition as steep as it is today, every business has its hands full trying to stay above the rest.When every little thing counts, the business the customers will take to heart will be the one who can show them just why they're the best qualified. Printing out the right kind of colorful brochure or business card can be a valuable method of stepping away from the crowded business field.
According to the writer, what does every business, regardless of its size, make effort to achieve nowadays ？
A．Get people to buy their products.
B．Design and produce new products.
C．Make their prices more competitive.
D．Better the quality of their present products.
Part A
Directions: Read the following four texts. Answer the questions below each text by choosing A, B, C or D. (40 points)
In most people's mind, growth is associated with prosperity. We judge how well the economy is doing by the size of the Gross National Product (GNP), a measure, supposedly, of growth. Equally axiomatic, however, is the notion that increased pressure on declining natural resources must inevitably lead to a decline in prosperity, especially when accompanied by a growth in population. So, which is correct？
What growth advocates mean, primarily, when they say growth is necessary for prosperity is that growth is necessary for the smooth functioning of the economic system. In one field the argument in favor of growth is particularly compelling and that is with regard to the Third World. To argue against growth in light of Third World poverty and degradation seems unsympathetic. But is it？ Could it be that growth, especially the growth of the wealthier countries, has contributed to the impoverishment, not the advancement, of Third World countries？ If not, how do we account for the desperate straits these countries find themselves in today after a century of dedication to growth？
To see how this might be the case we must look at the impact of growth on Third World countries—the reality, not the abstract stages-of-economic-growth theory advocated through rose colored glasses by academicians of the developed world. What good is growth to the people of the Third World if it means the conversion of peasant farms into mechanized agri-businesses producing commodities not for local consumption but for export, if it means the stripping of their land of its mineral and other natural treasures to the benefit of foreign investors and a handful of their local collaborators, if it means the assumption of a crushing foreign indebtedness？
Admittedly, this is an oversimplification. But the point, I believe, remains valid: that growth in underdeveloped countries cannot simply be judged in the abstract; it must be judged based on the true nature of growth in these societies, on who benefits and who is harmed, on where growth is leading these people and where it has left them. When considered in this way, it just might be that in the present context growth is more detrimental to the well-being of the wretched of the earth than beneficial.
So, do we need growth for prosperity？ Only the adoption of zero growth can provide the answer. But that is a test not easily undertaken. Modern economies are incredibly complex phenomena, a tribute to man's ability to organize and a challenge to his ability to understand. Anything that affects their functioning, such as a policy of zero growth, should not be proposed without a wary carefulness and self-doubting humility. But if the prospect of leaping into the economic unknown is fear-inspiring, equally so is the prospect of letting that fear prevent us from acting when the failure to act could mean untold misery for future generations and perhaps environmental disaster which threaten our very existence.
Which of the following statements does the author agree with？
A．Gross National Product is a safe measure for economic growth.
B．Increasing natural resources will bring social well-being.
C．Prosperity decline mostly accompanied by population growth.
D．Growth does not necessarily result in prosperity.
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