Find the best explanation for each of these words and phrases as used in the text.

1. have set the pace

a) have been slow to expand

b) have taken a lot of risks

c) have provided a good example for others

d) have been in competition with each other
2. tailors

a) takes full responsibility for

b) creates ideas for

c) carries out

d) adapts or modifies

3. fickle

a) unpredictable

b) expensive

c) limited

d) unchanging

4. latitude

a) restrictions

b) assistance

c) freedom

d) guidance

 

Translate the text.

TEXT 20

Read the article from the Financial Times and answer the questions that follow.

DAEWOO AND THE ART OF CUSTOMER FOCUS

When Daewoo entered the UK car market in spring 1995 it was hardly known at all; its cars were technically average and had an unfashionable country of origin (Korea). With around 40 carmakers the market was crowded. Less than half of these had market shares of over 1%. Many companies had a 'Buy UK' or 'Buy European' policy for their fleet purchases, which account for about half of all car purchases.

Since the mid 1970s, no new entrant to the UK car market had achieved more than a 1% market share. Yet Daewoo did exactly that in less than a year. We believe it did so by achieving its aim of being the most customer focused car company in the UK.

Daewoo's market research revealed that its best target market would be drivers primarily interested in a car's ability to get from A to В reliably and cheaply. Surveys had shown that most motorists were afraid to visit car showrooms and found salespeople too aggressive. They believed that they were treated even worse after the sale. Further, Daewoo's research found that in its target segment, 84% of motorists believed that the treatment they got from the salesperson was at least as important as how they felt about the car itself.

Daewoo developed a new approach to selling:

1. They did not use dealers to sell their cars. By saving the money normally paid to dealers, Daewoo was able to offer higher specifications at a lower price

2. Daewoo designed its car showrooms to be like high street stores, with free access to product information and a free cafe; salespeople were on a fixed salary and no negotiating on price was allowed.

3. The price included extensive guarantees and three years' free servicing.

4. Daewoo offered free collection and delivery as well as a courtesy car during servicing.

Daewoo's competitors had been unwilling or unable to rethink the way that they did business in the face of clear dissatisfaction in the market. This created a market opportunity that Daewoo was able to exploit.

Which of the following sentences best summarises the content of the article?

a) Daewoo's share of the UK car market is declining.

b) Daewoo needs to research the UK car market more thoroughly.

c) Daewoo understands what their customers really want.

d) Daewoo sells cars by traditional methods.

 

Mark each of the following statements as true, false or can't tell.

a) Daewoo was not present in the UK car market until 1995.

b) Cars from the Far East are not popular in the UK.

c) There was very strong competition in the UK car market when Daewoo entered.

d) Company cars account for approximately 50% of the UK car market.

e) Only ten car manufacturers have a market share of more than 1%.

f) Within a year. Daewoo had achieved a market share of more than 1%