English For Business Studies

target customers

a defined set of customers whose needs a company plans to satisfy

comparative parity method

choosing to spend the same amount on advertising as one's competitors

market research

collecting, analysing, and reporting data relevant to a specific marketing situation ( such as a proposed new product)

advertising agencies

companies that handle advertising for clients

brand-switchers

consumers who buy various competing products rather than being loyal to a particular brand

market segmentation

dividing a market into distinct groups of buyers who have different requirements or buying habits

outsourcing or contracting out

buying products or processed materials from other companies rather than manufacturing them

tax acounting

calculating an individual's or a company's liability for tax

credit facilities

the possibility of paying for a product over an extended period

depreciation

the reduction in value of a fixed asset during the years it is in use ( charged against profits)

income

the revenues received by a company during a given period, minus the cost of sales , operating expenses and taxes

market share

the sales of a company expressed as a percentage of total sales in a given market

image

the set of beliefs that the public at large holds of an organization

product line

the standard pattern of sales of a product over the period that it is marketed

brief

the statement of objectives of an advertising campaign that a client works out with an advertising agency

plant

the stock of any item or resource used in an organization

lead time

the time needed to perform an activity

stock

the value of raw materials, work in progress and finished products stored ready for sale

overheads

the various expenses of operating a business that cannot be charged to any one product , process or department

to launch a product

to introduce a new product onto the market

creative accounting

using all available accounting procedures and tricks to disguise the true financial position of a company

cost accounting

working out the unit costs of products, including materials , labour and all other expenses

packaging

wrappers and containers in which products are sold

auditing

writing down the details of transactions ( debits and credits)

distribution channel

All the companies or individuals involved in moving a particular good or service from the producer to the consumer

shareholders

a company's owners

advertising account

a contract with a company to produce its advertising

warranty

a promise by a manufacturer or seller to repair or replace defective goods during a certain period of time

niche

a small , specialized , but profitable segment of a market

shelf

a surface in a stone on which goods are displayed

prestige-ads

ads that mentions a company's name but not specific products

counter-cycle ads

advertising during periods or seasons when sales are normally relatively poor

liabilities

all the money that a company will have to pay to someone else in the future including taxes , debts, and interest and mortage payments

product concept

an idea for new product, which is tested with target consumers before the actual product is developed

Subcontractor

any company that provides goods or services for another one

component

any of the pieces or parts that make up a product, machine, etc.

assets

anything owned by a business ( cash investments, buildings, machines and so on) that can be used to produce goods or pay liabilities

product features

attributes or characteristics of a product : quality, price, reliability

word-of-mounth

free advertising when satisfied customers recommend product to their friends

accounting

inspectation and evaluation of accounts by a second set of accountants

bookkeeping

keeping financial records , recording income and expenditure, valuing assets and liabilities and so on

points of sale

places where goods are sold to the public-shops, stores, kiosks, market stalls...etc

market opportunities

possibilities of filling unsatisfied needs in sectors in which a company can profitably produce goods or services

market opportunities

possibilities of filling unsatisfied needs in sectors in which the company can produce goods or services effectively

managerial accounting

preparing budgets and other financial reports necessary for management

sales representative

someone who contacts existing and potential customers and tries to persuade them to buy goods or services

debtor

sums of money owed by customers for goods or services purchased on credit

creditor

sums of money owed to suppliers for purchases made on credit

capacity

the (maximum) rate of output that can be achieved from a production process

campaign

the ad of a particular product or services during a particular period of time

turnover

the amount of business done by a company over a year

budget

the amount of money a company plans to spend in developing its advertising and buying media time or space

inventory

the buildings, machines, equipment and other facilities used in the production process.

profitability

the extent to which an activity provides financial gain

threshold effect

the fact that a certain amount of advertising is necessary to attract a prospective customer's attention

location

the geographical situation of a factory or other facility

media planner

the people who choose where to advertise, in order to reach the right customers