商务英语视听说（第一册）unit 3

Unit 3
Markets
商务英语视听说1 电子教案中国人民大学出版社

Quotation
Only buy something that you’d be perfectly
happy to hold if the market shut down for 10
years.
—Warren Buffett
Communication is the most important form
of marketing.
—Akio Morita

Warren Edward Buffett
Warren Edward Buffett( born August
30, 1930) is an American business
magnate, investor, philanthropist and the
Chief executive officer, President, and
Chairman of Berkshire Hathaway. He is
considered by some to be one of the most
successful investors in the world, and as
of August 2017 is the second wealthiest
person in the United States, and the
fourth wealthiest in the world, with a
total net worth of $76.9 billion.
Buffett has been the chairman and
largest shareholder of Berkshire
Hathaway since 1970,and his business
exploits have had him referred to as the
“Wizard,” “Oracle” or “Sage” of Omaha
by global media outlets. He is noted for
his adherence to value investing and for
his personal frugality despite his
immense wealth.
Akio Morita
Morita was born in Nagoya, Japan, in 1921 the
son of sake brewers. In 1946, he helped start Tokyo
Tsushin Kogyo KK (the Tokyo Telecommunications
Engineering Corporation) with Ibuka. They had
$375 and space in an abandoned department store,
shelled by bombs in the war. The company quickly
built Japan’s first tape recorder, but it was big and
bulky -- not a product destined to propel the
company into the limelight. Then, in the 1950s,
Ibuka and Morita got a license from Bell Labs to
build transistors. The Japanese were still hard hit
by the war, and couldn't really afford expensive
electronics, so Ibuka set his sights on the American
market with a brand new idea -- a small,
transistorized radio that could fit in your pocket. As
it was, a US company built such a radio first, but
more as a gimmick than an actual product. When
Sony, as Morita’s company was soon renamed, came
out with their radio, it quickly took over the
market.
Contents
Lead-in
Conversation
Unit 3 Business News
Passage
Chinese and International Culture Tour

Lead-in-1 | Vocabulary
1. segment：n. one of several parts or pieces that fit with
others to constitute a whole object
e.g. She cleaned a small segment of the painting.
她擦干净了这幅画中的一小部分。
2. strategy: n. A strategy is a general plan or set of plans

intended to achieve something, especially over a long period.
策略
e.g. What should our marketing strategy have achieved?
我们的销售策略应该取得了哪些成果呢？
3. cue: n. If you say that something that happens is a cue for an
action, you mean that people start doing that action when it
happens.
e.g. He read the scene, with Seaton cueing him.
在西顿的提示下，他念了这一场的台词。
4. exceed: n. If you exceed a limit or rule, you go beyond it,
even though you are not supposed to or it is against the law.
超越 (限制、规定)
e.g. The demand for places at some schools exceeds the
supply.
某些学校的入学申请人数超过了招生。
Lead-in-1 | Notes
Marketing Mix: The “ marketing mix” is a foundation
model in marketing. The marketing mix has been defined as
the “set of marketing tools that the firm uses to pursue its
marketing objectives in the target market.” Thus the
marketing mix refers to four broad levels of marketing
decision, namely: product, price, promotion, and place.
Marketing practice has been occurring for millennia, but
marketing theory emerged in the early twentieth century.
The contemporary marketing mix, or the 4 Ps, which has
become the dominant framework for marketing management
decisions, was first published in 1960. In services
marketing, an extended marketing mix is used, typically
comprising 7 Ps, made up of the original 4 Ps extended by
process, people, and physical evidence. Occasionally service
marketers will refer to 8 Ps, comprising these 7 Ps plus
performance.
Marketing Mix
8Ps: performance

1 . outcome: n. The outcome of an activity, process, or

situation is the situation that exists at the end of it.
e.g. He said it is still not possible to predict the ultimate
outcome.
他说现在还无法预料最终的结局。
2. unhindered: adj. not slowed or blocked or interfered
with 无阻碍的
e.g. She had unhindered access to the files.
她可任意直接存取档案。

3. externality: n. the quality or state of being outside or

directed toward or relating to the outside or exterior
e.g. The Externality of Industries, the Competitive Environ

ment of Enterprises, and the Productivity
产业外部性、企业竞争环境与劳动生产率
4. transaction: n. A transaction is a piece of business, for
example, an act of buying or selling something. 交易
e.g. Neither side would disclose details of the transaction
双方均不肯披露交易细节。

5. flip side: a different aspect of something (especially the

opposite aspect)
e.g. The trade deficit is the flip side of a rapidly expanding

economy.
贸易赤字是经济快速发展带来的负面产物。
6. premium: n. A premium is a sum of money that you pay
regularly to an insurance company for an insurance policy.
保险费
e.g. It is too early to say whether insurance premiums will
be affected.
现在说保险费是否会受影响还为时过早。
Lead-in-2| Culture Tips
What is Market Failure?
A condition in which a market does not

efficiently allocate resources to achieve the
greatest possible consumer satisfaction.
The four main market failures are—

Externalities – (social costs and social benefits)
Monopolies – (Competition policy)
Factor immobility
Imperfect information

Types of market failure：
1.Productive and allocative inefficiency
Markets may fail to produce and allocate scarce resources
in the most efficient way.
2. Monopoly power
Markets may fail to control the abuses of monopoly power.
3. Missing markets
Markets may fail to form, resulting in a failure to meet a
need or want, such as the need for public goods, such as the
defence, street lighting, and highways.
4.Incomplete markets
Markets may fail to produce enough merit goods, such as
education and healthcare.
5.De-merit goods
Markets may also fail to control the manufacture and
sale of goods like cigarettes and alcohol, which have
less merit than consumers perceive.
6.Negative externalities
Consumers and producers may fail to take into account the
effects of their actions on third-parties, such as car drivers, who
may fail to take into account the traffic congestion they create for
others. Third-parties are individuals, organisations, or
communities indirectly benefiting or suffering as a result of the
actions of consumers and producers attempting to pursue their
own self interest.
7. Property rights
Markets work most effectively when consumers and producers
are granted the right to own property, but in many cases property
rights cannot easily be allocated to certain resources. Failure to
assign property rights may limit the ability of markets to form.
8. Information failure
Markets may not provide enough information because, during a
market transaction, it may not be in the interests of one party to
provide full information to the other party.

9.Unstable markets
Sometimes markets become highly unstable, and a
stable equilibrium may not be established, such as with
certain agricultural markets, foreign exchange, and
credit markets. Such volatility may require
intervention.
10.Inequality
Markets may also fail to limit the size of the gap
between income earners, the so-called income gap.
Market transactions reward consumers and producers
with incomes and profits, but these rewards may be
concentrated in the hands of a few.

Conversation-3 | Vocabulary
1. consideration: n. careful thought about something
e.g.It was a question which deserved serious consideration.

这是一个值得认真考虑的问题。
2. tile: n. flat, square pieces of baked clay, carpet, cork, or

other substance, which are fixed as a covering onto a floor or
wall
e.g. Amy’s shoes squeaked on the tiles as she walked
down the corridor .
埃米走过走廊时，鞋子踩在地砖上嘎吱作响。

3. reduction: n. the act of making something smaller in size
or amount, or less in degree
e.g. It was a question which deserved serious consideration.

这是一个值得认真考虑的问题。
4. deliver: n. If you deliver something somewhere, you take
it there.
e.g. We were told the pizza would be delivered in 20 minutes.
我们被告知比萨饼20分钟后送到。

5. quote: v. If someone quotes a price for doing something,
they say how much money they would charge you for a
service they are offering or a for a job that you want them to
do.
e.g. Always get a written quote for any repairs needed.
每次进行修理都索要一份书面的报价单。

1. unprecedented: adj. If something is unprecedented, it
has never happened before.
e.g. China’s industry is developing at an unprecedented
rate.
中国工业正以空前的速度发展。
2. accession: n. Accession is the act of taking up a position
as the ruler of a country. 继位
e.g. China’s accession to the WTO began a new

stage in opening up.
我国加入世界贸易组织，对外开放进入新的阶段。
3. deployment: n. The deployment of troops, resources, or
equipment is the organization and positioning of them so
that they are ready for quick action.
e.g. The two countries are competing in the deployment
of intermediate-range missiles.
两国正在竞相部署中程导弹。
4. entrant: n. An entrant is a person or company who has
recently become a member of an institution or market. 新
成员
e.g. One new entrant was astounded by this procedure.
新加入的合营者会被这些程序给弄糊涂了。
5. shoulder: v. If you shoulder the responsibility or the
blame for something, you accept it.
e.g. He has had to shoulder the responsibility of his father’s

mistake.
他得为他父亲的过错承担责任。.

Business News-1 | Vocabulary
1. withdraw: v. If you withdraw money from a bank

account, you take it out of that account.
e.g. Open a savings account that does not charge
ridiculous fees to withdraw money.
开一个取款时不会乱收费的储蓄账户。
2. consecutive: adj. Consecutive periods of time or events

happen one after the other without interruption. 连续的
e.g. The manufacturing economy contracted in October
or the sixth consecutive month.
10月，制造业经济已经连续第6个月出现萎缩状况。

3. bid: n. A bid is an offer to pay a particular amount of

money for something that is being sold
e.g. Hanson made an agreed takeover bid of £351 million.
汉森按协商出价3.51亿英镑接管该公司。
4. prudent : adj. Someone who is prudent is sensible and

careful 谨慎的
e.g. Modest and prudent, never lag behind!
谦虚谨慎，永不落后！.

5. stance: n. Your stance on a particular matter is your

attitude to it
e.g. They have maintained a consistently neutral stance.
他们一直持中立态度。

Business News-1 | Culture Tips
The People’s Bank of China (PBOC) is

the central bank of the People’s Republic
of China (not to be confused with the Bank
of China or the Central Bank of China)
with the power to control monetary policy
and regulate financial institutions. The
Governor of the People’s Bank of China is
nominated by the Premier and approved by
the National People’s Congress, and is also
member of the State Council. The current
Governor is Yi Gang.
1. discount : n. A discount is a reduction in the usual price
of something.
e.g. They are often available at a discount.
它们经常进行打折销售。
2. hallmark : n. The hallmark of something or someone is

their most typical quality or feature
e.g. His technique became kind of a hallmark of the

New Historicism.
这种方法成为了新历史主义的一大标志。
3. figure: n. A figure is a particular amount expressed as a

number, especially a statistic.
e.g. It would be very nice if we had a true figure of how
many people in this country haven’t got a job.
如果我们能得到该国失业人口的真实数字就好了。

Business News-2 |Culture Tips
About Singles Day Promotion in China

November 11th has become a special festival during recent years. With four characters of
“1”, this date was named as Bachelor’s Day. On this day, young people will hold bachelor
parties to create couples or simply have fun. Some choose to end their bachelor life by
showing love or proposing for marriage.
In 2009, Alibaba held the first Double Eleven Shopping Festival on Taobao.com, storming
the online shopping for the very first time. Three years later, with coming 2012’s Bachelor’s
Day, more than 10,000 businesses, cooperating with e-commerce sites, are poised to rock the
shopping festival again.
Participants took actions to meet this festival. Some clothes manufactures began to hoard
products for this winter from August. And they made full preparation on supplying chains
and staff arrangements.
China Express Association organized “Double Eleven” meetings to discuss
measurements. Major logistics companies like EMS, Shentong, Yuantong, Home Delivery...
are going to recruit thousands of new staffs to meet the need of peak online shopping periods.

Passage-1 | Vocabulary
1. boom: n. If there is a boom in the economy, there is an

increase in economic activity, for example, in the number
of things that are being bought and sold
e.g. An economic boom followed, especially in housing

and construction...
接着出现了经济繁荣，尤其是在房地产业和建筑业
2. rise: v. If an amount rises, it increases.
e.g. The waters continue to rise as more than 1,000 people

are evacuated.
水面持续上涨，已经有1000多人被疏散了。
Passage-2 | Vocabulary
1. errand: n. An errand is a short trip that you make in
order to do a job, for example, when you go to a shop to
buy something.
e.g. Frank drifted into running dodgy errands for a seedy

local villain.
弗兰克开始为当地一个下流的恶人跑腿做坏事。
2. registration: n. The registration of something such as a
person’s name or the details of an event is the recording of
it in an official list.
e.g. Marriage without registration is not recognized by law.
法律不承认未登记的婚姻。
Passage-2 |Culture Tip
E-bikes
An e-bike, commonly known as
booster bicycle or electric bicycle, is
a bike with an integrated electric
motor used for propulsion. E-bikes
can be classified as e-bikes with
pedal-assist only, with power-on-
demand and pedal-assist, or with
power-on-demand only. Depending
on the laws, in many countries, e-
bikes are classified as bicycles
rather than mopeds or motorcycles,
and are not subject to stringent laws
regarding their certification and
operation.

Chinese and International Culture Tour


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Unit 3

商务英语视听说1 电子教案 中国人民大学出版社

商务英语视听说1 电子教案 中国人民大学出版社

Unit 3 Business News

Chinese and International Culture Tour

商务英语视听说1 电子教案 中国人民大学出版社

2. strategy: n. A strategy is a general plan or set of plans

商务英语视听说1 电子教案 中国人民大学出版社

1 . outcome: n. The outcome of an activity, process, or

e.g. She had unhindered access to the files.

商务英语视听说1 电子教案 中国人民大学出版社

3. externality: n. the quality or state of being outside or

e.g. The Externality of Industries, the Competitive Environ

e.g. Neither side would disclose details of the transaction

商务英语视听说1 电子教案 中国人民大学出版社

5. flip side: a different aspect of something (especially the

e.g. The trade deficit is the flip side of a rapidly expanding

What is Market Failure?

A condition in which a market does not

The four main market failures are—

商务英语视听说1 电子教案 中国人民大学出版社

商务英语视听说1 电子教案 中国人民大学出版社

商务英语视听说1 电子教案 中国人民大学出版社

1. consideration: n. careful thought about something

e.g.It was a question which deserved serious consideration.

2. tile: n. flat, square pieces of baked clay, carpet, cork, or

商务英语视听说1 电子教案 中国人民大学出版社

e.g. It was a question which deserved serious consideration.

商务英语视听说1 电子教案 中国人民大学出版社

e.g. Always get a written quote for any repairs needed.

商务英语视听说1 电子教案 中国人民大学出版社

e.g. China’s accession to the WTO began a new

e.g. He has had to shoulder the responsibility of his father’s

商务英语视听说1 电子教案 中国人民大学出版社

1. withdraw: v. If you withdraw money from a bank

2. consecutive: adj. Consecutive periods of time or events

商务英语视听说1 电子教案 中国人民大学出版社

3. bid: n. A bid is an offer to pay a particular amount of

4. prudent : adj. Someone who is prudent is sensible and

商务英语视听说1 电子教案 中国人民大学出版社

5. stance: n. Your stance on a particular matter is your

e.g. They have maintained a consistently neutral stance.

商务英语视听说1 电子教案 中国人民大学出版社

The People’s Bank of China (PBOC) is

2. hallmark : n. The hallmark of something or someone is

e.g. His technique became kind of a hallmark of the

3. figure: n. A figure is a particular amount expressed as a

商务英语视听说1 电子教案 中国人民大学出版社

About Singles Day Promotion in China

商务英语视听说1 电子教案 中国人民大学出版社

1. boom: n. If there is a boom in the economy, there is an

e.g. An economic boom followed, especially in housing

e.g. The waters continue to rise as more than 1,000 people

e.g. Frank drifted into running dodgy errands for a seedy

商务英语视听说1 电子教案 中国人民大学出版社

商务英语视听说1 电子教案 中国人民大学出版社

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商务英语视听说1 电子教案中国人民大学出版社