Competition

1 (10). Listening. Listen and practice. Mind the new words.

In an open market any number of sellers or competitors can offer goods for sale. An efficient producer, who keeps costs low, can set a low price for goods that other companies find it difficult to compete with. All companies try to gain the biggest market share possible, and compete aggressively with their main competitors to do this. Companies with the biggest market share for a product, the market leaders, may compete with their rivals on quality, image, brand loyalty or price. Major companies compete across borders in the global market place to try to enter new markets in countries where they do not have a presence.

2. Discuss the following. Who are the main competitors in the market in the following sectors?

Sportswear, fashion, cars, telecommunications, computers, soft drinks.

3. Speaking. The global market is very competitive. What can companies do to persuade customers to buy their product instead of another similar one? You can use the following prompts.

To increase sales, to enter new markets, to maintain customer loyalty, to sponsor sport events, to update the product (service), to attract new customers, to send your employees on training courses.

4. Reading. Before you read the article make predictions. Match the sentence openings 1-4, with the endings a-d. Then scan the text and see if you are correct.