Do the following statements agree with the information given in the article?
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1. In 2013 Tesco was the UK grocery market leader.
2. Tesco is now doing business in its UK home turf only.
3. Tesco started life before World War I when Jack Cohen set up his flagship sea food store in the East End of London.
4. Jack Cohen used his personal savings as a primary source of funding for his first business.
5. The Tesco brand first appeared five years later in 1924 when Cohen bought a shipment of tea from a Mr T.E Stockwell.
6. Cohen based his business on a mass customization model.
7. Tesco was one of the first major retailers to understand the power of loyalty cards – not just in boosting sales through discounts but in using vast amounts of customer data to help tailor individual shopping experiences.
8. Tesco was at the forefront of online shopping, understanding the importance of home delivery in the internet age.
9. Tesco was a pioneer in differentiating own-label products with its Value range.
10. Tesco became the biggest supermarket chain in Great Britain in 1996.
11. Tesco today sticks to its initial specialization as a grocery store.
12. Farmers routinely accuse Tesco of pressing suppliers into driving down milk prices.
13. In the 1990s Tesco continued to tighten its grip on the UK with more store openings and an aggressive marketing campaign in an attempt to overtake competitors.
14. In a cutthroat environment and increasing competition for sites Tesco had to turn its sights on corner shops.
15. According to customers’ surveys Tesco supermarket chain has lost confidence in the United Kingdom.
Make up a list of strategies that ensured Tesco’s success in the UK market.
VOCABULARY PRACTICE
Exercise № 6
Fill in the blanks with appropriate prepositions.
1. ………. a competitive marketplace where businesses compete …………. customers;customer satisfaction is seen as a key differentiator.
2. Competitive advantages provide an edge …………. rivals and an ability to generate greater value ………….. a firm and its shareholders.
3. Germany's chancellor made a rare public intervention in the debate about money printing by the European Central Bank on Monday, warning it was no substitute …………. economic reforms in the euro zone.
4. The dominant firms …………… an oligopolistic market often have large factories, huge advertising budgets, patented products, and control …………… raw materials. These barriers ……………..entry make it very hard for new or smaller firms to compete ……………. them.
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5. Hong Kong, with its natural resource limitations, can only compete ……………. quality, not quantity.
6. Yet India's textile industry could not compete ……………. Britain's, even though British wages were five times higher.
7. However, production costs are often too high for bio-fuels to compete ……………… fossil fuels.
8. Businesses who succeed ……………….. these cut-throat environments are the ones that make customer satisfaction a key element of their business strategy.
9. Barriers ……………. entry are economic or technical factors that prevent or make it difficult for new firms to break ……………. the market.
10. Their business deals ……………… new and used books.
11. The leader has the largest market share and usually leads the other firms …………… price changes, new-product introductions, distribution coverage, and promotion spending
12. Market power enables oligopolies to charge prices that are well …………. their marginal costs of production.
13. Competing …………..price is a race to the bottom: no matter what product or service you offer, there will always be someone else who figures out how to offer it for even cheaper.
14. The government is formulating legislation to deal ………….. a new phenomenon known as identity theft.
15. While rivals jockey …………… market share, Apple bathes ……………… profits.
16. In the increasingly crowded race to put self-driving cars on the road, Google is losing …….... ………… competitors.
17. Apple increased global iPhone shipments by 13% last year, but its growth rate is lagging ………………. competitors in the smartphone space - arguably the company's most important market.
18. Global telecommunications industry sees rise in capital spending as companies try to keep pace …………………… disruptive competitors.
Exercise № 7
Gain(s) – 1) прирост, увеличение;2) прибыль, доходы;3) выгода
productivity gains – ростпроизводительности
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