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Unit VII. Franchising
Complete the passage below using the appropriate word or phrases from the box.
franchisor |
management service fee franchise agreement |
advertising fee |
||
format |
operation manual |
master franchisee |
franchise fee franchisee |
|
Franchising can be defined as a business system in which a company (or 1________) sells an individual (or 2___________) the right to operate a business using the franchisor’s established system or 3___________ . The franchisee is thus able to take advantage of the franchisor’s brand names, reputation and experience.
As part of the contract (or 4___________)
The franchisee pays an initial sum of money, known as a 5___________ to the franchisor and, in addition, agrees to pay 6__________ in exchange for continuing advice and assistance which is usually calculated as a percentage of annual turnover. In certain cases the franchisee may also pay 7___________ to contribute to the franchisor’s annual advertising and marketing costs. It is important to understand that the franchisee also has to find the necessary capital to open the business.
Once the contract has been agreed, the franchisor provides an 8__________ which is a document containing all the information that the franchisee requires in order to manage his business. In some cases a franchisor may appoint 9__________ to supervise all aspects of the development of the business inside a territory.
Unit VIII. Marketing
Complete the passage below using the appropriate word or phrases from the box.
price |
product |
marketing |
the four Ps |
promote |
place |
1_________ is the term given to all the different activities intended to make a profitable demand for product. This involves: identifying consumer needs and wants in order to develop the 2_________; setting the 3_________; deciding on the best 4________ to sell the product; deciding on how best to 5__________ the product. These four factors are then referred to as 6__________.
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Unit IX. Advertising.
Complete the passage below using the appropriate word or phrases from the box.
to target |
corporate advertising |
publicity |
public relations |
media |
product advertising |
image |
|
|
|
|
|
1_________ is an important part of the marketing mix. It is used to increase sales by making the product or service known to a wider audience and by emphasizing its superior qualities. A company can advertise in a variety of ways, depending on how much it wishes to spend and the size and type of audience it wishes 2_________. The different 3_________ for advertising include television, radio, newspapers, magazines, the Internet and direct mail. The design and organization of advertising campaign is the job of an advertising agency.
4_________ is not directly concerned with increasing sales of products or services but more with the overall 5__________ a company wants to present to the public. 6________ experts specialize in organizing actions and events which generate positive 7_________ for companies. Original advertising campaign can sometimes also get some extra publicity for the company by way of newspaper articles and /or TV and radio reports about campaign.
Unit X. Banking.
Complete the passage below using the appropriate word or phrases from the box.
commercial banks |
the Bank of England clearing banks |
merchant banks |
branches |
|
|
The banking sector of the United Kingdom is made up of variety of different institutions which are supervised by the country’s central bank, 1_________. This bank not only looks after both the government’s finance and monetary policy but it also acts as banker to other banks. However, for the general public and many businesses, banking services are provided by the 2__________ (also called the 3__________) which have offices or 4___________ throughout the country. These banks offer a wide range of banking services which include accepting deposits, making loans and managing their customer’s accounts. 5___________ on the other hand, do not deal with the public but specialize in providing services to companies or corporate customers. They are particularly active in arranging merges and acquisitions and in advising on aspects of corporate finance.