#288 Marketing & Accounting
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Hi! I’m Georgiana, and I’m back with a new episode. I’m here to help you speak English fluently. And what do you need to speak fluently? You need to LISTEN, LISTEN, LISTEN, and LISTEN. 🙂
If you want to help me, SHARE the podcast with your friends and family. That would mean a lot. Thanks.
On my website you can get the 5 Secrets to speak English and also my premium courses.
Ok, let’s start!
This episode is for my English students who work in finance. But don’t worry if you don’t! I’ll explain marketing and accounting in a way that’s easy for everyone to understand.
Understanding Marketing
Marketing is how businesses tell people about their products or services. Imagine it as a four-letter word: ‘P-P-P-P.’
‘Product‘ is what businesses want people to buy. It could be a smartphone, a pizza, or anything they sell.
‘Price‘ is how much money you need to buy the product. It can attract or discourage customers.
‘Place‘ is where you get the product. It can be in a store, online, or at a market.
‘Promotion‘ is how companies advertise their products, like TV ads or online banners.
Marketing Vocabulary
Let’s explore some common marketing terms.
‘Advertising‘ is the commercials you see on TV or the banners you click online.
‘Branding‘ is a company’s personality. Think of a famous fast-food restaurant and its logo.
‘Market research‘ is understanding what people like and want so companies can meet their needs.
Introduction to Accounting
Now, let’s talk about accounting. It’s like a financial diary for businesses.
There are two key things in accounting: ‘income’ and ‘expenses.’
‘Income‘ is the money a company earns, like from sales or services.
‘Expenses‘ are a business’s costs, like paying employees or buying materials.
Basic Accounting Terms
Some essential accounting terms:
‘Revenue‘ is the total sales or money a company makes.
‘Expenses‘ are the costs to run a business.
‘Profit‘ is what’s left when you subtract expenses from revenue. A positive number means making money.
A ‘balance sheet‘ is like a financial snapshot of a company’s assets and debts.
The Connection Between Marketing and Accounting
Marketing and accounting are partners in business success. Marketing attracts customers, increasing revenue. Accounting measures this success, ensuring a company is profitable and healthy.
Now, let’s look at the vital connection between marketing and accounting. Think of a business as a ship sailing toward success. Marketing acts like the wind in its sails, driving it forward, while accounting is like the compass that keeps it on the right path.
Marketing efforts, such as advertising and promotions, bring in customers. More customers mean higher sales or revenue, which is excellent for a business. Think of marketing as a way to gather a crowd around the ship.
However, it’s not sufficient to gather a crowd; you must also ensure the ship stays afloat and profitable. This is where accounting comes into play. Accounting checks the ship’s financial health.
It helps you determine if you’re making a profit (when more money comes in than goes out) or if adjustments are necessary. Picture accounting as examining the ship’s supplies, making sure it has enough fuel, and ensuring the crew gets paid.
So, marketing and accounting cooperate to help businesses succeed. Marketing attracts customers, while accounting closely watches over the ship’s finances, ensuring it remains on the correct course toward success.
Remember, understanding this connection is crucial for getting the full picture of how businesses operate. Marketing brings people in, and accounting evaluates and guarantees long-term success.
Recap and Tips
Let’s summarize:
Marketing spreads the word about products (P-P-P-P Product, Price, Place, Promotion).
Accounting tracks money (Income, Expenses, Profit, Balance Sheet).
They work together for business success.
Practice your new vocabulary by listening to this episode several times during the week.
I hope this easy explanation of marketing and accounting helps you on your learning journey.
Let’s continue with a surprising point-of-view story:
POV-Story (Learn grammar in context)
I will tell you the same story twice. So, make sure to focus on the changes.
You can find these techniques fully implemented in my premium courses.
SpeakEnglishPodcast.com/courses
Okay! Let’s start!
Once upon a time, in a small town, there was a unique businessman named Leo. Leo had an unusual idea that made everyone around him laugh.
He wanted to sell air from different parts of the world. People thought it was funny. “Who would buy air?” they laughed. But Leo didn’t give up. He believed in his unique idea and began his adventure.
Leo traveled to many places, from the snowy mountains of the Himalayas to the Amazon forests, collecting air in special bottles. Each bottle had a label showing where the air came from, sharing the unique feel of each place.
Back home, he started a small online shop called “Love is in the Air,” where he showed off his collection of air from around the world.
To everyone’s surprise, orders came in from all over. People in busy cities wanted fresh air from the countryside. Others missing their home wanted to smell the air from their homeland. Some collected the air bottles as keepsakes or gifts for friends and family.
“Love is in the Air” became a big success. The man once laughed at became a lesson for marketers. Leo, always full of new ideas, was already thinking about his projects: “Love is in the Water” and “Love is in the Soil.” This time, everyone was sure he would succeed.
What a funny story, right? It’s hard to believe that anyone could sell air! However, although my character Leo is fictional, I’ve got inspired by this real-life story published on the CNN website.
https://edition.cnn.com/2016/02/08/world/fresh-air-britain-china-bottles/index.html
Let’s listen to the story from a different viewpoint:
Once upon a time, in a small town, there would have been a unique businessman named Leo. Leo would have had an unusual idea that would have made everyone around him laugh.
He would have wanted to sell air from different parts of the world. People would have thought it was funny. “Who would buy air?” they would have laughed. But Leo wouldn’t have given up. He would have believed in his unique idea and begun his adventure.
Leo would have traveled to many places, from the snowy mountains of the Himalayas to the Amazon forests, collecting air in special bottles. Each bottle would have had a label showing where the air came from, sharing the unique feel of each place. Back home, he would have started a small online shop called “Love is in the Air,” where he would have shown off his collection of air from around the world.
To everyone’s surprise, orders would have come in from all over. People in busy cities would have wanted fresh air from the countryside. Others missing their home would have wanted to smell the air from their homeland. Some would have collected the air bottles as keepsakes or gifts for friends and family.
“Love is in the Air” would have become a big success. The man once laughed at would have become a lesson for marketers. Leo, always full of new ideas, would have already considered his projects: “Love is in the Water” and “Love is in the Soil.” This time, everyone would have been sure he would succeed.
Great! I like these kinds of stories because they’re easy to remember and help a lot with learning English. Humor also makes learning more enjoyable. You can find this method in my premium courses—take a look at: SpeakEnglishPodcast.com/courses, to get my premium courses. They are designed for learning by listening.
Also, if you want to help me, share the podcast with your friends and family. That would mean a lot. Thanks.
See you soon!
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