Read the text and match the headings a-f with paragraphs 1-5. There is one extra heading.

a Brands past _______

b Advertising brands _______

c The new consumers _______

d Guilty _______

e The case against brands _______

f The importance of brands _______

Money can buy you love

1________. Brands are accused of all sorts of evils, from threatening our health and destroying our environment to corrupting our children. Brands are so powerful, it is said, that they force us to look alike, eat alike and be alike.

2______. This grim picture has been made popular by many recent anti-branding books. The argument has been most forcefully stated in Naomi Klein`s book No Logo: Taking Aim at the Brand Bullies. Its argument runs something like this. In the new global economy, brands represent a huge portion of the value of a company and, increasingly, its biggest source of profits. So companies are switching from showcasing product features to marketing aspirations and the dream of a more exciting lifestyle.

3________. Historically, building a brand was rather simple. A logo was a straightforward guarantee of quality and consistency, or it was a signal that a product was something new. For that, consumers were prepared to pay a premium. Building a brand nationally required little more than an occasional advertisement on a handful of television or radio stations showing how the product tasted better or drove faster. There was little regulation. It was easy for brands such as Coca-Cola, Kodak and Marlboro to become hugely powerful. Because shopping was still a local business and competition limited, a successful brand could maintain its lead and high prices for year. A strong brand acted as an effective barrier to entry for competing products.

4___________. Consumers are now bombarded with choices. They are also harder to reach. They are busier, more distracted and have more media to choose from. They are «commercials veterans» experiencing up to 1,500 pitches a day. They are more cynical than ever about marketing and less responsive to messages to buy. Jonathan Bond and Richard Kirshenbaum, authors of Under The Radar – Talking To Today`s CynicalConsumers, say «some of the most cynical consumers are the young». Nearly half of all US college students have taken marketing courses and «know the enemy». For them, «shooting down advertising has become a kind of sport».

5_________. Marketers have to take some of the blame. While consumers have changed beyond recognition, marketing has not. Even in the USA, home to nine of the world`s ten most valuable brands, it can be a shockingly old-fashioned business. Marketing theory is still largely based on the days when Procter&Gamble`s brands dominated the USA, and its advertising agencies wrote the rules. Those rules focused on the product and where to sell it, not the customer. The new marketing approach is to develop a brand not a product – to sell a lifestyle or a personality, to appeal to emotions. (It is a much harder task than describing the features and benefits of a product.) However, brands of the future will have to stand for all of this and more. Not only will they need to be a stamp of product quality and a promise of a more desirable lifestyle but they will also have to project an image of social responsibility.

4. Match me information in column A with the corresponding information in column B.

A

B

1. In Chinese business culture gold is 2. American businesspeople are 3. Similarly, flexibility and spontaneity are not 4. Not reading is 5. British business culture 6. Modern British business is driven much more by results 7. The U.S. salespeople sometimes 8. In accordance with Chinese business protocol people Sire expected 9. Giving gifts 10. Germans are

a. to enter a meeting room in hierarchical order. b. remains essentially hierarchical. c. opportunistic and willing to take chances d. the color of prestige, prosperity. e. a breach of protocol. f. very straightforward and direct. g. bring final contracts to first meeting with prospective clients h. prominent traits in German business culture i. is not a normal part of British business culture. j. than by the application of strict processes

5. Complete these announcements, using these verbs in the past simple or the present perfect.

Agree buy announce give ask issue slump

1. The government.........a decrease in corporation tax.

2. Telecom Italia.........its chief executive to complete negotiations over the company`s plans to participate in a new digital pay TV system.

3. In a gigantic deal, BRITISH AMERICAN TOBACCO, the world`s second-largest international cigarette maker,..........to take over ROTHMANS (the fourth-largest) for $8.7 billion.

4. Shares in MARKS AND SPENCER, Britain`s biggest retailer,.........by more than 10% in the last 24 hours after the firm........a profits warning.

5. Europe`s postal market is becoming increasingly competitive. Only weeks after the British government........the state-controlled POST OFFICE greater commercial freedom, it......... Germany`s third-largest private carrier. GERMAN PARCEL has a big distribution network and a large stake in GENERAL PARCEL, which operates Europe-wide.