EOU TEST 1

SECTION 1: Vocabulary and Structure (30 marks, 1 mark/answer)

1. Throughout my career, I have ensured that my B. Product features

________________ successfully executed the C. Product elasticity
strategies developed by senior management, delivered D. Product life cycle
results and maximized revenue.
A. suppliers 7. ________________ means setting a high price for
B. subordinates a new product, to make maximum revenue before
C. investors competing products appear on the market.
D. distributors A. Market research
B. Market skimming
2. People in ________________ cultures often like to C. Market opportunities
do many things at once. D. Market penetration
A. linear-active

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B. multi-active 8. The possibility of providing a new product or
C. reactive service to satisfy particular needs is called
D. mixed ________________.

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A. Market variation E
3. Businesspeople in ________________ cultures
such as Britain, the USA and Germany are generally

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B. Market opportunity
C. Market capitalization

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organized and rational, try to act logically rather than D. Market channels
emotionally, plan in advance, and like to do one thing
at a time.
A. multi-active
B. linear-active
Ọ C 9. ________________ companies focused their
energies on changing customers' minds to fit the
product – practicing the ‘any color as long as it's
C. reactive
H black' school of marketing.

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D. hyper-active A. Sales-driven
B. Market-driven

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4. At the ________________ of the product life
cycle, the product's features may have to be changed
C. Technology-driven
D. Customer-driven

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so that it differs from competing brands, which
involves new costs.
A. introduction stage
B. maturity stage
10. ________________ is a period of ending or
relaxing of legal restrictions.
A. regulation
C. growth stage B. deregulation
D. decline stage C. repossession
D. depositor
5. At the ________________ of the product life cycle
the price is either maintained, or greatly reduced to 11. In order to be a good manager, you have to know
liquidate stock if the product is discontinued. how to lead people, how to motivate people, and how
A. introduction stage to make sure that you are ________________.
B. growth stage A. seeing your targets
C. maturity stage B. going your targets
D. decline stage C. meeting your targets
D. looking your targets
6. ________________ are the attributes or
characteristics of a product, such as size, shape, 12. Banks make a profit by charging a higher rate of
quality, price, reliability, etc. interest to borrowers than they pay to
A. Product differentiation ________________.
A. regulators C. reflects how many goods were sold by the
B. collateral company and how many customers they have.
C. depositors D. reflects the cash and revenue of a company.
D. retailers
19. ________________ is defined as anything owned
13. ________________ offer interest-free banking. by a business – cash, buildings, machines, equipment,
They do not pay interest to depositors or charge etc.
interest to borrowers but invest in companies and A. Liability
share the profits (or losses) with their depositors. B. Asset
A. Islamic banks C. Turnover
B. Investment banks D. Revenue
C. Private banks
D. Commercial banks 20. ________________ involves calculating how
much an
14. A ________________ is a group of companies, individual or a company will have to pay to the local
operating in different fields, which have joined and national governments.
together. A. Finance accounting
A. hedge fund B. Tax accounting
B. local marketplace
C. Islamic bank
C. Management accounting
D. Cost accounting
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D. conglomerate

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21. Patents and trademarks are typical examples of

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15. ________________ are certificates of debt issued ________________.
by governments or companies to raise money A. tangible assets
A. Shares
B. Dividends T
B. total equity
C. current assets
C. Bonds
D. Stocks
Ọ C D. intangible assets

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16. A ________________ is defined as one with a
22. Managers ________________ of their staff to see
whether they are reaching their targets.

A. credit crunch

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higher-than-normal credit risk. A. make the decisions
B. deal with the crisis

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B. credit crisis C. measure the performance
C. subprime borrower D. allocate the resources

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D. subprime crisis

17. A ________________ is a distribution of a

23. ________________ is the loss of value of
tangible assets.
portion of a company's earnings, decided by the board A. Inventory
of directors, to a class of its shareholders. It can be B. Depreciation
issued as cash payments, as shares of stock, or other C. Amortization
property. D. Proceeds
A. loan
B. mortgage 24. Top managers have to be prepared to
C. surplus ________________ if they occur and then have to
D. dividend make quick decisions.
A. set objectives
18. A balance sheet is a financial statement that B. allocate resources
________________. C. deal with crises
D. perform tasks
A. reflects what the company owns, owes and what
the shareholders put in as equity.
25. After an organization has ________________, it
B. reflects how much profit the company made in the
has to make sure that it achieves them.
year from selling their product.
A. considered the future
B. introduced innovations A. collectivist
C. set objectives B. compromise
D. allocated resources C. confrontation
D. connection
26. Managers have to find the best way to allocate all
the human, physical and capital ________________ 29. ________________ are people of influence or
available to them. importance with whom you are associated.
A. materials A. Collectivists
B. resources B. Confrontation
C. effects C. Intuition
D. values
D. Connections
27. ________________ is an invented word
30. In terms of business across cultures,
combining worldwide and regional concerns.
________________ assume that rules should be
A. Grobalization
B. Localization applied to everybody.
C. Globalization A. individualists
D. Glocalization B. universalists
C. collectivists
28. A ________________ is a person who believes
that the group is more important than the individual.
D. particularists

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SECTION 2: Reading Cloze (20 marks, 2 marks/answer)

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statistical features conditions TẬ
Fill in each blank with one suitable word/phrase. You don’t need to use all the words provided.

statements balance
agency
communication strategy
Ọ C
shareholders motivation
external
individual
internal
corporation

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One of the most important (31) features in any business is communication. Good communications are required at all

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stages of the business process. Businesses employ, and are owned and run by, various groups of people. Workers,
directors and (32) shareholders are three important groups closely involved with a business. Other influential groups

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include customers, suppliers and the government.

Communication takes place between these groups and the individuals who make up the groups. Within individual
companies, internal communications occur at, and between the various levels. Directors communicate with one
another concerning the company’s overall (33) strategy. They inform managers of their plans, and the managers then
communicate with the other employees. Negotiations are conducted concerning pay and working (34) conditions .
Managers communicate decisions and orders and try to improve morale and (35) motivation through good
communication. Employees also communicate with each other, for example over production and wages.

(36) External communication occurs when a company’s directors or employees communicate with those individuals
and groups who deal with the company. Shareholders receive copies of the company’s financial (37) statements
together with the reports of the Chairman and Directors. Government departments require (38) statistical and financial
information from the company. An advertising (39) agency is consulted about the company’s advertising policies.
Customers need to know if goods have not been despatched and suppliers contacted if their goods have not been
delivered. Reliable and effective (40) communication is one of the key elements which leads to efficient management
of a company.

SECTION 3: Reading Comprehension (30 marks, 2 marks/answer)

Marketing is everything
1 Several decades ago, there were sales-driven companies. These organizations focused their energies on changing
customers’ minds to fit the product - practicing the ‘any color as long as it’s black’ school of marketing. As
technology developed and competition increased, some companies shifted their approach and became customer
driven. These companies expressed a new willingness to change their product to fit customers’ requests -
practicing the ‘tell us what color you want’ school of marketing. Successful companies are becoming market
driven, adapting their products to fit their customers’ strategies. These companies will practice let’s figure out
together how and whether color matters to your larger goal’ marketing. It is marketing that is oriented toward
creating rather than controlling a market.

2 The old approach - getting an idea, conducting traditional market research, developing a product, testing the
market, and finally going to market - is slow and unresponsive. As the demands on the company have shifted
from controlling costs to competing on products to serving customers, the center of gravity in the company has
shifted from finance to engineering - and now to marketing.

3 Marketing today is not a function; it is a way of doing business. Marketing is not a new ad campaign or this
month’s promotion. Marketing has to be all-pervasive, part of everyone’s job description, from the receptionists
to the board of directors. Its job is neither to fool the customer nor to falsify the company’s image. It is to integrate
the customer into the design of the product.

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4

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US companies typically make two kinds of mistake. Some get caught up in the excitement and drive of making
things, particularly new creations. Others become absorbed in the competition of selling things, particularly to

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increase their market share in a given product line. Both approaches could prove fatal to a business. The problem
with the first is that it leads to an internal focus. Companies can become so fixated on pursuing their R&D agendas

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that they forget about the customer, the market, the competition. The problem with the second approach is that it
leads to a market-share mentality. It turns marketing into an expensive fight over crumbs rather than a smart effort
to own the whole pie.

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5
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The real goal of marketing is to own the market- not just to make or sell products. Smart marketing means defining
the whole pie as yours. In marketing, what you lead you own. Leadership is ownership. That is why marketing is

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everyone’s job, why marketing is everything and everything is marketing.

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Based on the information in the article, say whether the following statements are True (T), False (F).

41. Sales-driven companies tried to change customer's minds and make them like the products they produced.

True False

42. The main focus of companies shifted from engineering to finance to marketing.

True False

43. The author claims that marketing is to fool the customers and to falsify the company’s image.

True False

44. Marketing today is to integrate the customer into the design of the product.

True False

45. What is wrong with focusing on R&D and creating new products?

A. You forget about the customer and the competition.

 B. You forget about the customer, the market and the competition.

C. You forget about the customer and the market.

D. You forget about the market and the competition.

46. What is wrong with focusing on increasing market share?

A. It turns the market into crumbs rather than a whole pie.

B. It turns marketing into a smart effort to own the whole pie.

C. It turns marketing into an expensive competition over small targets.

D. It turns the market share into a whole pie.

What does each of the underlined words refer to?

47 “… it is a way of doing business…” (Para. 3) marketing/ marketing today
48 “… Others become absorbed in the competition …” (Para. 4) U.S. companies/ US company

Find words from the text which mean:

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49. not reacting or paying enough attention to something (Para. 2) unresponsive
50. spreading through or into everything (Para. 3) all-pervasive / all pervasive

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51. to trick someone (Para. 3) to fool / fool

TẬ
52. to change something in order to deceive people (Para. 3) to falsify/ falsify

C
53. a person’s particular way of thinking about things (Para 4) mentality

Ọ
H
Fill in each gap of these sentences with one suitable word from the text:
54. Samsung can be considered as a customer driven business as it creates mobile phones in various colors to suit

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all tastes of their customers.
55. In terms of marketing, some R&D companies show a weakness as they are so fixated on the creation of new
products.

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SECTION 4: Listening (20 marks)

PART 1: Listen and fill in the gaps (1 mark/answer)

So, a company's balance sheet, in principle, is intended to give you the value of the company’s (56) business, but in
practice, some assets are very easy to (57) value, and some are very difficult to value. So if you hold some (58) shares
in another company or something, or you hold some money in a bank (59)account, this is very easy to value. On the
other hand, if your (60) assets comprise research and development, or people for that matter, then it's in principle very
difficult to put a value on those things. And when you measure the (61) profit of a company, what you're trying to do
is measure a change in value, so the (62) difference between what a company is worth at the beginning of a year, and
what it is (63) worth at the end of a year, is the profit that it makes, or the (64) loss that it makes. And if it's difficult
to measure the value of assets in the first place, it's also difficult to (65) measure whether a company's making profit
or not.
PART 2: Listen and complete the summary (2 marks/answer)

Managers should
- pursue the company goal
66 - ___maxinize__ ____value____ for shareholders
67 - accomplish the ____personal__ ___goals___and objective of subordinates
68 - help ___young_ __professionals__ to develop
- understand the expectation of team members
69 - try to ___match__ __goals___ of the company
70 - help ___people___ to __develop___ in their team

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