23.8 Mock Test No.2

Mock Test No.
2
Student’s name:-----------------
ID No.-------------------
I. Vocabulary focus
1. Find words or phrases which mean the same as the following:
1. done as a part of a plan to achieve a particular purpose
………………………………………………………………………..
2. a business that sells goods to members of the public
………………………………………………………………………..
3. a company whose shares are freely sold and traded
………………………………………………………………………..
4. a person or organization that buys products or services
…………………………………………………………………………
5. the percentage of sales in a market that a company has
…………………………………………………………………………
6. a plan for achieving an aim, especially relating to the best way for
an organization to develop
………………………………………………………………………….
7. a particular quality or ability that gives someone an advantage in
relation to others
…………………………………………………………………………..
8. lack of a particular characteristic that would give you the ability to
succeed
…………………………………………………………………………..
9. an increase in size, amount or degree
……………………………………………………………
II. LANGUAGE STUDY
2. Complete the following sentences with suitable phrasal verbs:
carry out work out pull out break into draw up
1. It often has to ……………….. of the market.

2. You ……………….. a strategy which will enable you to improve your
performance in the market.
1
3. You usually ……………….. a contract with the agents.
4. You can ……………….. a market study to find out if potential customers
will buy the product.
5. You can try to ……………….. an overseas market
III. Complete the following passage with the correct form of the words below.
strategy skill delegate right planning innovative venture drawback trust

personnel expertise segment finance set up
The problems of small high-tech firms have attracted a lot of attention recently.
Research shows that many of these firms are ……………….. (1) by talented,
creative scientists. Their owners have no trouble coming up with …………….. (2)
products but they often can’t build on their early success.
One reason for this is that they don’t have much management ……………….. (3).
Therefore, they are unable to develop the ……………….. (4) which are necessary
for their company’s growth. They are in a rush to develop products, and don’t think
enough about how to market them. When they do try to sell their products, they
spend too much time trying to gain the ……………….. (5) of potential customers.
Another mistake they make is to underprice their products so that they have no
……………6) for future development. Once the firms begin to grow, their owners
underestimate the future costs of developing and marketing new products. Lack of
financial…………….7) is a major weakness of such companies. It is difficult for the
high-tech firm to attract the right ……………….. (8) because it cannot offer the
same job security as a large organization. The high-tech firm can get round some of
these problems by developing a specialist image. It can aim at a particular
……………….. (9) of the market. Customers then start seeking out the firm, so its
marketing costs are reduced. The only ……………….. (10) is that it may take some
time before customers accept the firm’s new technology. As soon as the high-tech
business has reached a certain size, it will be a good idea to bring in professional
management. The founder of the firm can then ……………….. (11) responsibility
for activities like marketing and finance. If a high-tech firm needs money very badly,
it may arrange a link-up with a larger company. It will offer that company exclusive
……………….. (12) to its technology. Enthusiasm, bright ideas, ………………..
(13) capital and technology are not enough to ensure success. Basic management --
-- (14) – especially financial and marketing ones – are also vital.
2
IV. Rewrite the following sentences without changing their meaning. Use the
verbs or phrases in italics followed by the correct prepositions and make any
other necessary changes.
e.g. We think you ought to change your pricing policy.
suggest
changing We suggest your pricing policy
(that) you change
(that) you should change
1. We always try to give good service to our customers.
make a point
…………………………………………………………………………………………………
…………………………………………………………….
2. “I’m delighted you have kept within your budget,” said the Chairman to our
Advertising Manager.
congratulate
……………………………………………………………………………
3. The Managing Director said, ”The new product must be launched by January”.
insist
………………………………………………………………………………
4. Marks and Spencer are making a special effort to sell fashionable clothes for
young people.
concentrate
………………………………………………………………………………
5. We are pleased when our customers are satisfied.
take pleasure
………………………………………………………………………………………
………….…………………………………
6. The owner doesn’t want to sell the business at the moment.
interested
………………………………………………………………………………………
……………………………………………………………..
7. I don’t agree with our Chief Executive when he says we should expand the range
of our products.
wrong
………………………………………………………………………………………
………………………………………………………….
8. We are considering breaking into new markets.
3
think
………………………………………………………………………………
9. He is sure that the bank will lend him the money for future development.
depend
………………………………………………………………………………………
……………………………………………………...
10. Marks and Spencer have always been able to forecast accurately what their
customers want.
succeed
………………………………………………………………………………………
………………………………….……………………
V. Look at the mission statements of three companies:
1. To make sports cars for discerning enthusiasts with good technical knowledge.
2. To sell clothing more cheaply than the department stores.
3. To sell electrical goods with a high level of after-sales service.
Which strategy from the list below does each company correspond to?
a) cost leadership: offering products or services at the lowest cost; this is one
strategy to adopt in volume industries where competitors produce large numbers
of similar products.
b) differentiation: offering products or services that give added value in terms of
quality or service compared to competitors.
c) focus: using one of the above two strategies to concentrate on a niche, a specific
part of the market with particular needs.
IV. Choose a company or service organization that you know well. Then write:
a) what the objectives of each business are;
b) what strategies the management are using to achieve their objectives.
Are all the businesses using the right strategies? If not, what changes should they
make?

23.8 Mock Test No.2

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Mock Test No.

carry out work out pull out break into draw up

1. It often has to ……………….. of the market.

strategy skill delegate right planning innovative venture drawback trust

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