English for Masters in Economics. Маркушевская Л.П - 90 стр.

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Университет ИТМО | Санкт-Петербург

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Task 1. Complete the following sentences, using information from the text.
1. All banks provide online banking facility to…
2. Banks also suggest their customers…
3. Internet banking enables people to carry out…
4. Manynancialtransactionscanbecarriedoutby…
5. The necessary things that a person needs for using online banking
are…
6. When a person opens an account with the bank, the bank …
7. The concept of Internet banking has been simultaneously evolving …
8. The online shopping promoted the use…
9. When computers and Internet were not so well developed, «home
banking»…
10.TherstonlinebankingserviceinUnitedStates…
11. The online banking services are becoming…
Task 2. Fill in the preposition where it’s necessary.
1. All banks provide online banking facility ___ their customers as an
added advantage.
2. Nowadays, people are so busy ___ their work lives that they don’t
even have time to go __ the bank.
3. Manynancialtransactionscanbecarried___bysimplyutilizinga
computer ___ an Internet connection.
4. If they are stuck ___ any process while performing their online
transactions, banks have another helpful facility that is «phone
banking».
5. All online banking services, provided ___ some banks, are free ___
cost.
6. When a customer views ___the bank’s website, he would obligatorily
need to log ___ his virtual account.
7. The Internet banking facilities provided ___ banks differ ____bank
___ bank, and country ___ country.
8. The creative process ___ development of these services were
probably sparked ___ after many companies started the concept of
online shopping.
9. The development ___ these databases were widely used _____ the
development of ATM’s.
10. __ 1983, the Nottingham Building Society, commonly
abbreviatedandrefereed___astheNBS,launchedtherstInternet
banking service in United Kingdom.
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TEXT 13. GLOCALIZATION, GLOBAL MARKETING
AND BRANDING
Exercise 1. Study the information about the term “glocalization”.
Glocalizationisacombinationofthewords“globalization”and“localiza
-
tion”usedtodescribeaproductorservicethatisdevelopedanddistrib-
uted globally, but is also fashioned to accommodate the user or consumer
in a local market. This means that the product or service may be tailored
to conform with local laws, customs or consumer preferences. Products
orservicesthatareeffectively“glocalized”are,bydenition,goingtobe
of much greater interest to the end user.
The following quote belongs to a scholar who is credited with popularizing
theterm:“glocalization”meansthesimultaneity–theco-presence–of
bothuniversalizingandparticularizingtendencies.”
Find out who this scholar was:
a. Martin Roll
b. Roland Robertson
c. John Penrose
Exercise 2. Answer the questions.
Do you usually buy the products of the same brand? Why? Why not?
Glocalization, global marketing and branding
One of the biggest implications of globalization for companies seeking
to expand to foreign shores is the task of balancing standardization with
customization. From a branding perspective, this issue assumes even more
signicance. When some of the world’s biggest brands expand beyond their
home markets, they are tempted to repeat their tried and tested formula in
the new market as well. In fact this has been the path followed by many
brands. The assumption in such a case is that customers would be too eager
to consume the great brand because of its authenticity, heritage and asso-
ciations. But this tendency is gradually changing as global companies are
learning about the unique needs of the customers in different market along
with the pressures of lifestyle, economic and cultural conditions.
A case in point is the success of global brands in the Indian market. One
of the booming economies in Asia, India offers tremendous opportunities to
global companies. A brief look at the Indian landscape would prove why – an

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