BUSINESS VOCABULARY (0)

PRODUCTS and BRANDS
1. product catalogue - a list of different products of one company
2. product mix - a range of similar in some way products considered together
2. product range - different particular and specific products of a company
3. product lifecycle - the stages of product lifetime and amount of people who use it at each stage
4. product positioning - is how we see a product or how a company would like us to see it in relation to other products
5. product placement - hidden commercial of a product. Customer can see a product in films, music videos and so on.
6. raw materials - basic materials from which products are made or manufactured
7. finished goods - are goods(products) that have completed manufacturing process and are ready to be sold and used by the end user
8. consumer goods - goods which are produced to satisfy consumer current needs and are bought for individual use
9. consumer durables - long time lasting products, such as home appliances, cars and so on
10. fast moving consumer goods - everyday need products that are sold quickly and in large quantities, food and toiletries for example
11. brand name - word(s) that identify product and it’s company so consumer can easily recognize and notice it.
12. brand awareness - is the extent to which a brand or product can be recognized by consumer
13. brand image - all the ideas and beliefs held about a particular brand
14. brand manager - ensures successful promotion and the quality of products
15. brand identity - it is how a company seeks to identify itself, is the proposal that a company makes to consumers.
16. generic products - products without brand name
17. own brand product - products which have the trademark or label of a retailer
18. brand leader - most widely sold and recognized product of a particular brand
19. brand equity - the value premium that a company realizes from a product
20. brand loyalty - when a person buys the same brand products repeatedly rather than other brand’s.
21. brand stretching - a marketing strategy in which a company uses the same brand name of a product with a well- developed image in a different product category or for a new product
HOW COMPANIES ADVERTISE
1. Word-of-mouth advertising - is when people tell (in a good way) their family or/and friends about products or services that they have bought and used.
2. Institutional or prestige advertising - tries to develop goodwill for a company rather than to sell a specific product.
3. Advertising agencies - agencies which are working on planning, creating and handling advertising for companies
4. An account - advertising contract
5. An advertising budget - amount of money that company is ready to give for advertising
6. A brief - list or statement of the objectives of the advertising
7. An advertising campaign - series of advertisements of a one product of company
8. Media planners - people who decide on which media to place ads, how many people they need and want to reach and so on
9. The threshold effect - the high point of advertising when it becomes effective and starts to give a result
10. Comparative- parity method - to spend the same amount of money on advertising as one's competitors.
11. Counter cyclical advertising - advertising during periods when sales are poor .
OUTDOOR ADVERTISING
1. Billboards - huge outdoor panels where companies put their ads which are very noticeable
2. Outdoor advertising - advertising out of home,on the streets
3. Wallscapes - huge banners which are located on the front of buildings
4. Lightboxes- a lighted display panel
5. Tri face billboards - billboards with rotating sections so consumer can see three different ads at the same billboard
6. Scrollers - signs that can display ads one after the other
7. Street furniture - using street furniture as a place for advertisement, such as bus shelters
8. Transit advertising - advertising on cars, city transport and so on
9. Ambient media - non- traditional media such as receipts, floor ,clothes and so on
10. Digital outdoor advertising - advertising by LED screens on the streets
11. Sonic posters - ads which are “ making ” sounds
12. Lenticular posters - ads which are showing different pictures when somebody is walking past them or near them
13. OTS or coverage - the distance between the point where you first notice the advertisement to the point where you don’t see or recognize it anymore
MONEY-BUYING, SELLING AND PAYING
1. Current account - bank account for daily transactions, payments and cash withdrawing
2. Bank statement - is regularly sent to costumer by bank so costumer can see how much money he has on his account
3. Savings account - bank account where you hold your extra money and don’t use it everyday until you need it
4. Be in the red - to have an overdrawn account
5. Be in black - to have credit , opposite to overdrawn
6. A mortgage - money that you lend from the bank to buy a house
7. Pay outright - to pay right here, on the place. Usually when you buy something in a shop you pay for it outright
8. Buy on credit - if you get something from the shop right now and pay later
9. Buy in bulk - if you buy many things at the same time; you can get a discount
10. Give a refund - money that seller will give you back if you bought something and you want to return it and you have a receipt
11. Fee - money that you pay for some service that you get
12. Fare - money that you pay to get somewhere( for a journey )
13. Income tax - the tax that the government collects on wages and salaries
14. Inheritance tax - the tax that the government collects if people inherit something from others
15. Excise duties - customs that have to be paid on things that are imported from other countries
16. VAT - value added tax which is paid when you buy or purchase something
17. Corporation tax - companies tax on their profits
18. Tax rebate - money that you have given back if you paid too much tax
19. Dole - money that the government pays to those who are in need
20. Disability allowance - money that the government pays to disabled people
21. Student grant - money that the government pays to students to help them pay for studying
22. Rate of exchange - the rate at which one currency will be exchanged for another
23. Shares - a single units of ownership in a corporation, company or any other organization that can be sold to members of the public so then they can say that they invested in that company
24. Child benefit - money that the government pays to the parents or guardians of children , teenagers and in some cases young adults
ADVERTISEMENTS THAT WORK
1. AIDA - advertising message: attention , interest, desire , action.
2. Hook - something that you use in ad to catch consumer’s attention
3. Vehicle - something that helps you advertise, for example newspaper or magazine etc.
4. trading radius - is the area where you sell your business
5. Timing - is important part of advertising. Ad has to come in perfect time and place
KNOWING YOUR CUSTOMERS
1. market intelligence - knowledge about the latest trends in a market
2.mystery shoppers - people who company sends to other companies for them to pretend to be real consumers and just see how the things are going on there
3.market research firm - company that does systematic market research
4.secondary data - already existing and publicly available information
5.primary data - information that somebody has collected for a specific purpose
6.observational approach - when you go on place to see yourself how things are going on, how shoppers behave and so on
7. focus group - group of people who are invited to the company to talk about problems, discuss a product and service and so on
8.online focus group - group of people who discuss a product on the Internet
9.survey research- a questionnaire where people are answering to some questions
10.behavioural data - information about what people actually buy and use ( it can be opposite to what they say they buy)
11.experimental research - carried out with the goal of verifying, falsifying, or establishing the validity of a hypothesis
KNOWING YOUR CUSTOMERS II
1.A segment - a group of customers with similar characteristics , needs and requirements
2.behavioural segmentation - customer’s segmentation which depends on when, why and how often they buy a particular product
3.demographic segmentation - customer’s segmentation which depends on age, occupation and social class
4.actualisers - successful people who don’t mind to spend their money on expensive things they want and like
5.strugglers - elderly people who are poorer and who have loyalty to familiar brands
6.experiencers - young people who spend a lot of money on their image( clothes, music etc.). they don’t make plans for the future investments
7.believers - conservative people who prefer familiar brands
8.makers - practical family oriented people with practical taste
9.strivers - people who doesn’t have much money but who pretend to have such with things they buy
CUSTOMER SATISFACTION
1.customer solution - finding a solution to a customer problem by offering the right combination of product and service
2.customer cost - the money paid by the customer for the service or product
3.convenience - the distributing way which is the most convenient for all types of customers
4. communication - two –way communication from company to customer and the other way
5.customer satisfaction - when customers get what they wanted , needed and hoped to get
6.customer delight - when customer’s expectations are exceeded and customers are satisfied
7.degree of involvement - customer is differently involved when he buys different things. For example he is more involved when he buys holiday tickets for his family than chocolate
8.customer retention - keeping existing customers
9.customer defection - when company loose it’s customers
10.churn - the percentage of customers who change suppliers
BRANDS AND BRANDING
1.brand positioning - emphasizing brand’s characteristics and benefits in relation to other brands
2.differentiation - when company makes product look different from other products with same characteristics
3.flagship brand - most important and powerful brand owned by an organization
4.generic brand - brand which is used on a variety if different products of the same company
5.brand stretching - a marketing strategy in which a company uses the same brand name of a product with a well-developed image in a different product category or for a new product .
6.brand dilution - making the brand less powerful
INTERNET SECURITY
1.hackers - illegal penetrators
2.infiltrate - illegal penetration in order to steal or destroy the information
3.denial of service attack - an attempt to make a network resource unavailable to its intended users
4. virus - program designed to make computers malfunction
5.anti-virus programs - used to prevent detect and remove malware
6. Trojan horses - malware which appears to perform a desirable function but instead drops a malicious payload, often including a backdoor allowing unauthorized access to the target 's computer
7.cybercrime - criminal activity on the Internet
8.encrypted - coded , can’t be read by others
9.phishing - when criminals try to get passwords by sending emails that pretend to be from bank ,asking to reconfirm security details
10.identity theft - recording someone ’s passwords and other information while typing by putting spyware on someone’s computer
11.scams - a fraudulent or deceptive acts or operations (lottery “ winning ” emails and so on)
12.electronic trail - a record of the sites that Internet user visited