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