BBA3MARKETING

BBA 3 Marketing English Vocabulary Supplement BBA EDHEC 2018-2019

ABOUT THE BOOK IN YOUR HANDS Dear Student, The objective of this book is to expand your marketing vocabulary. It is not to teach marketing or develop your marketing skills.

In the first 2 years of BBA EDHEC the concepts of the Marketing Mix, AIDA, Guerilla Marketing, Branding, Advertising and Promotion, Own Brands etc and many other basic concepts were introduced with their accompanying vocabulary in English. If you cannot remember this basic vocabulary, we suggest that you revise your year 1 and 2 BOOKS immediately, as this material is not covered again here – this is not a revision class.

This poly deals with more advanced and varied vocabulary but cannot, in the space of 6 hours teaching time cover every word and every aspect of marketing that you may need.

A supplementary unit has been made available to you online: Paste this link into your browser to access more vocabulary learning exercises, games and self tests:

https://quizlet.com/_2ymi3h On the above site you will find 168 marketing related terms to complement this book.

So........

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Exercise Set 1 (Clue: Famous English Food - singular) 1. Cell phone market ______________ is at 100% in many European countries.

M. penetration D. penalty J. penance 2. I'm doing an ______________ of consumer trends in cellular markets such as Japan.

I. analysis K. analyze A. analytics 3. Every marketer should have an idea of how to build strong ______________.

F. names V. ideas S. brands 4. We plan to ______________ this product in the Spring of 2009.

I. lunch T. launch F. lynch 5. The process of gathering, recording and analyzing of data about customers, competitors and the market is called market ______________.

U. review D. replay E. research 6. Recent market ______________ show that there is a considerable increase in the use of our technology in the banking sector.

R. trends B. ideas N. trials 7. Last year we brought together a team to ______________ for a completely new type of car.

B. develop a concept O. make a concept J. start a concept 8. I don't think we'll have a problem ______________ this product. It will almost sell itself.

W. market J. to marketing E. marketing 9. Jane, could you bring me that ______________ on the Brazilian biotechnology sector?

I. rapport A. report N. note 10. The ______________ ( = statistics/figures) in this report cover three year trends in the manufacturing sector.

O. matrix N. metrics E. mathematics

If you have all answers correct, your teacher will play this video: https://youtu.be/ZWCSQm86UB4 3

Exercise Set 2

1. More and more companies are ______________ ( = accepting/doing) email marketing, although it's still considered a less sophisticated way to market a product or service. a. embracing b. embarrassing c. making 2. We have to work on our brand name ______________. 55% of consumers have never even heard of us! a. aware b. awareness c. clarity 3. Our marketing software will help you track ______________ results correctly. a. campaign b. champagne c. camp 4. We want our image in the ______________ to be strong, positive, and compelling. a. marketing b. marketplace c. market 5. Brand-______________ occurs more often when there are big differences between brands. a. changing b. swapping c. switching 6. It is important to create ads that will ______________. ( = be different) a. stand up b. stand forward c. stand out 7. We hope to increase our ______________ ( = our percentage of sales on the market) to 20 percent within 3-4 years. a. market share b. market sharing c. market value 8. Buying ______________ ( = the rate at which customers buy something) is lower for office furniture than for office supplies a. level b. frequency c. ability 9. A ______________ found that price was the most important consideration when buying a cell phone. a. customer report b. consumer science c. consumer research study 10. In the next six months, we have to ______________ to increase our brand's equity ( = worth). a. take steps b. make steps c. do things

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Exercise Set 3

1. Due to a series of failed initiatives, we seem to have lost our competitive ______________. a. border b. edge c. know-how 2. A successful marketer is able to determine what intangible product attributes lead to consumer ______________ to pay a premium price. a. willing b. will c. willingness 3. The ______________ ( = percentage/rate) of brand-loyal consumers is about 35%. a. property b. proportion c. promotion 4. Price-______________ consumers are the ones for whom price is the determining factor as to whether or not to buy something. a. sensitive b. savvy c. sensitivity 5. The measurement and management of brand value has become a major ______________ for marketers in the past couple of years. a. issue b. tone c. tool 6. If two products are ______________, this means they are perceived to be the same. a. indifferent b. differentiated c. undifferentiated 7. Generally speaking, new products that ______________ ( = offer) unique benefits to the customer have a higher commercial success rate. a. deliver b. give c. make 8. Tangible brand attributes = ______________ brand attributes a. clear, real b. unreal, imaginary c. atypical POP QUIZ In pairs try to find the missing word:

1. When a new product is released, it is l________ 2. When people are interested in something, they are m____________ 3. A short phrase used in advertisements is called s________ 4. A plan intended to achieve an aim is called s_________ 5. A famous person who publicly promotes products is called c_________ e__________ 6

Exercise Set 4 (Clue: Found on your desktop perhaps) 1. A ______________ market, is a market which an organization/company sets its views on.

R. target K. targeting T. bullseye 2. When describing a product's benefits, one often uses the words "tangible" ( = real), and "______________" ( = inherent).

E. intangible A. intrinsic I. introductory 3. Brands that have high perceived value are often included in a ______________'s consideration set. ( = buyer's consideration set) M. purchase R. seller C. purchaser 4. To "trade off" A for B, means to gain A ______________. For example, people often trade off price against product features.

Y. at the expense of B D. as well as B B. for free 5. Bill's company was able to charge a ______________ ( = high price) in the market place because of their positive brand equity. ( = the value built up in a brand) E. premier A. promotion C. premium 6. A product with no brand name is referred to as being ______________.

S. branded L. unbranded R. unidentified 7. Our marketing manager believes that a ______________ would highlight the new redesign.

E. name change H. change name L. naming change 8. If a product is discontinued it is ______________.

A. available B. no longer available I. free 9. The four P's of marketing (also known as the "marketing mix") refers to product, price, promotion and ______________ (= where the product can be bought) A. place-setting I. place/placement K. placation 10. A business "model" is, in a way, a business ______________.

N. streamline E. strength N. strategy

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Listening Exercise: You will hear an audio which explains some important internet marketing vocabulary. You will hear it twice (at least). The first time you hear it – just listen. The second time, make notes in the spaces provided giving definitions for the acronyms and vocabulary explained in the audio. Finally compare your answers with the person next to you (even if you don't like them). Your teacher will ask you for feedback:

PPC -

Content Networks (eg: Google Adsense / Yahoo Publisher Network)-

CPC -

8

CTR -

Landing Page -

Conversion -

Analytic Software -

9

CPA -

Part 2 Audio Exercise Missing words 1.

2.

3.

Exercise Set 5 1. Some marketers believe that pricing is the most important ______________ in the marketing mix. a. idea b. value c. item 2. A 1% increase in price could increase ______________ by up to 5%. a. profiteering b. profitability c. money 3. Prices are often altered as a ______________ to competitive moves. a. change b. reaction c. reference 4. In marketing, a product's ______________ refers to how potential buyers see the product. a. position/positioning b. placement c. profit 5. Re-positioning involves changing the ______________ of a product. a. identification b. identical c. identity 6. What impact will introducing this new product have on ______________ products? a. existing b. new c. exist 7. To tailor offerings = To ______________ offerings a. create b. scrap c. give birth to

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Exercise Set 6 1. In marketing, market segmentation refers to the ______________ of a market into different parts/segments. a. division b. split c. cutting 2. We use a three-level segmentation ______________. a. scheme b. scam c. schematics 3. One problem with forecasting is that consumers often _____________ ( = exaggerate) their intent to purchase new goods and services. a. say too much about b. say too little about c. overstate 4. This approach has some significant _____________. ( = negative aspects) a. cut-backs b. drawbacks c. take-backs 5. To _____________ an interest = To show an interest a. exclaim b. expose c. express 6. This approach can be used with _____________ on any product. a. confidence b. confidant c. confident 7. We're always thinking of new strategies to expand our marketing _____________. a. reach b. reach out c. reaching 8. Viral marketing uses "word-of-______________" ( = information passed from one person to another) to increase brand awareness. a. speech b. month c. mouth 9. Tell me a little about the types of _____________ you used in your last position. a. technical b. techniques c. technique 10. When your marketing and sales teams are ______________ ( = on the same page) your business will grow exponentially a. in line b. aligned c. delineated

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Match these definitions to the words above: ______________________ = This is a technique developed by Miller Heiman where the salesperson asks a question and then allows three or four seconds of silence afterwards. When faced with a Golden Silence, buyers will often open up and share an insight that helps both the buyer and the seller get a better grasp on the buyer's needs. Often, this leads to another question (based on the insight) followed by more silence and more insights. In this manner, salespeople are able to guide a meaningful, indepth, and on-topic discussion that leads to a win-win where the customer's actual needs are met through a solution, not just through a product. ______________________ = refers to the number of people who clicked one or more links in your email – expressed as a percentage. For example, if one out of 100 people clicked any link in your email, then your CTR is: 1/100, or 1%. ______________________ = A type of conversion that happens after the initial visit. For example, a visitor may go on a website to look at the price of an offering, leave to think about it, then go back and make the purchase. ______________________ = The value - both tangible and intangible that a brand adds to a product/service. ______________________ = Essentially happens when your visitor completes the goal of your individual page. This can range from clicking a button, to making a purchase, or even filling out a lead form. ______________________ = A type of marketing characterized by prospects and customers seeking out and finding companies rather than vice versa. ______________________ = A web page that a user encounters after clicking on a link from a search engine, advertisement, email or other marketing vehicle. ______________________ = Measurements that help with the quantification of marketing performance, such as market share, advertising spend, and response rates elicited by advertising and direct marketing. ______________________ = Any element that may detract visitors to convert. These can be things that are confusing, distracting, or cause stress such as too much text, or too many fields to fill in a form. ______________________ = The strength of preference for a brand compared to other similar available options. Often measured in terms of purchase behavior or price sensitivity. ______________________ = Often called landing page optimization or conversion rate optimization.

It is the process of improving your website in order to increase your search rankings through various techniques. ______________________ = The series of steps a visitor takes from their first interaction to the goal of your site. ______________________ = The space a brand is perceived to occupy; the part of the brand identity that is to be actively communicated in a way that meaningfully sets it apart from the competition. ______________________ = Functional or emotional associations that are assigned to a brand by its customers and prospects. Brand attributes can be either negative or positive and can have varying degrees of relevance and importance to different customer segments. ______________________ =

The percentage of people who left the website after viewing that page.13

Therefore a ______________________ rate is not desirable. ______________________ = The percentage of people who complete the goal or a desired action on a page. Higher ______________________ mean the page is performing well while lower conversion rates indicate poor performance. ______________________ = Also known as “smart or adaptive content�; the features of a website, ad, or email body that change based on the viewer’s past behaviour. In other words, the customization of these mediums that are tailored to the viewer.

Exercise set 7 1. We have to develop a better online ______________. We're not getting as many hits as we used to. a. strategy b. status c. stronghold 2. Which audience ______________ are you aiming for? Teenagers? a. segment b. selection c. segue 3. ______________ placement refers to having a brand (Coke, Nike, etc.) appear during a movie, show, etc.

Companies usually pay a lot of money to have their products appear this way. a. Stuff b. Object c. Product 4. The ______________ of products into the plot of a movie is critical to many companies marketing strategy. a. intrusion b. integration c. interest 5. "Brand entertainment" is a fairly new concept that involves marketing a brand within the ______________ of "original" programming. In other words, the advertisements become part of a program. a. contentment b. contextual c. context 6. In some ways, "brand entertainment" is more ________________ ( = less obvious) than traditional advertising, which is why some people see it as being more subversive. a. subtle b. silly c. scalable 7. If something is _____________, it is present everywhere. a. ubiquitous b. uninspired c. unveiled 8. _____________ will be spending billions of dollars on Olympics-related advertising. a. Respondents b. Ads c. Sponsors 9. The goal here is to start new relationships, and to ______________ ( = strengthen) existing ones. a. make stronger b. deepen c. electrify

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Exercise Set 8 1. To ______________ sales = To increase sales a. boast b. best c. boost 2. We're trying to ______________ ( = attract) new clients from Asia. a. pull out b. pull in c. pull on 3. The written part of an advertisement is what's known as "marketing ______________". a. structure b. copy c. letters 4. We had to cut our marketing budget in ______________ to recessionary concerns. ( = because of recessionary concerns) a. response b. review c. retraction 5. How's the new campaign going? Well, the ______________ is pretty encouraging. Sales have increased by 5% in the first month. a. sight b. viewpoint c. outlook 6. His top-notch marketing skills helped ______________ the way to ( = lead to/ ensure) this brand's success. a. pave b. pay c. pale 7. We have to be a little more aggressive in our marketing ______________. ( = We have to spend more money on marketing) a. spend b. costs c. price-breakdown 8. I'd think ______________ ( = think about it carefully) before entering that market. a. well b. so c. twice 9. A ______________ refers to the elimination of competing businesses or products in a particular field. a. shake-up b. shakeout c. shackle 10. We have to engage in marketing activities that are closer to the ______________. ( = where people buy the product/s) a. point of transaction b. point of transfer c. transaction zone

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Nooooooooooooooooo!!

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Exercise set 9 1. We should target the group with the highest ______________. a. potential b. potency c. patent 2. The current economic conditions are creating an even ______________ demand for our products. a. big b. stronger c. harder 3. We often have to ______________ ( = explain) why we charge so much to create and run a marketing campaign. a. talk b. explicate c. justify 4. Your devoted customers = You loyal ______________ a. clientele b. subjects c. persons 5. In this case, it would be wiser to concentrate on existing customers, instead of trying to ______________ ( = find/get) new ones. a. access b. accord c. acquire 6. This new software will allow you to ______________ ( = get, find out) information about customers. a. reach (for) b. mine (for) c. acknowledge 7. In marketing terms, a "______________" customer is an "average" customer. a. mid-tier b. middle of the road c. middle way 8. We have to take steps to ______________ ( = utilize/exploit ) the potential of this powerful new medium. a. harass b. harness c. harp on 9. We ______________ everything in preparation for the presentation. a. checked twice b. double-checked c. double-glanced 10. We planned to increase our marketing budget by 10% this year, but we had to ______________ to 5%. a. revise that up b. revise that on c. revise that down

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Exercise Set 10 English-language editions of Scrabble contain 100 letter tiles, in the following distribution: 2 blank tiles (scoring 0 points) 1 point: E ×12, A ×9, I ×9, O ×8, N ×6, R ×6, T ×6, L ×4, S ×4, U ×4 2 points: D ×4, G ×3 3 points: B ×2, C ×2, M ×2, P ×2 4 points: F ×2, H ×2, V ×2, W ×2, Y ×2 5 points: K ×1 8 points: J ×1, X ×1 10 points: Q ×1, Z ×1 Get all of set 10 correct and spell a word worth 30 points 1. When marketing specialists speak about a ______________, they are referring to a decline in an economic cycle. s. downsize m. downturn p. downtime 2. Horizontal marketing refers to when two companies market their products ______________ ( = together) q. joined u. jauntily a. jointly 3. When marketers speak about "engaging" an industry, they are referring to creating an interest or ______________ within the industry about a product, service, etc. z. clientele x. buzz u. stupor 4. We've been trying to create a new metric ( = method/system) of ad ______________. i. effectiveness e. affectation z. affliction 5. On the internet, consumers can take part in a kind of ______________ marketing, which means that not only does a company market to the consumers, the consumers themselves can create content (through an application on a website, etc.) m. two-way l. two-approach e. two-direction 6. The phenomenon in the previous question is commonly referred to as "consumer-______________ media." e. general z. given i. generated 7. To put something "______________" = To focus on the importance of something, to devote most of one's attention to something z. front and center m. outright a. in the front 8. Unfortunately, this analysis doesn't really show the ______________. ( = all the facts, what's really going on) e. whole picture e. whole painting c. whole drawing 9. If something is an industry-______________ standard, it means that it is used/adhered to by most people in the industry. l. wise r. wide n. wire 19

10. The ______________ new iPhone was launched last year. e. people waiting on t. awaited much s. much awaited

Exercise Set 11 1. You should see this as something ______________. ( = absolutely necessary) a. essential b. strategic c. temporary 2. All successful companies include marketing as part of their daily ______________. a. operatives b. operations c. operating 3. We need to ______________ ( = buy) more ad space. a. pursue b. persuade c. purchase 4. You're not going to ______________ ( = convince) the customer to buy a product if you're so aggressive. a. persuade b. purchase c. pursue 5. A successful marketing specialist knows how to ______________ with customers. a. entangle b. grade c. engage 6. He did a great job with that account, but I'm wondering if he would be able to do this on a more ________________ basis. a. constant b. consistent c. concerned

Exercises 1 to 11 = 100 Words

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Unit 0000 Sales and marketing 1 In the following sentences, the enthusiastic marketing manager of a mobile phone company is telling her team about the company's latest model of mobile phone. However, each sentence contains a spelling mistake. Identify and correct the word in each case.

1.

Everybody says that the market for mobile phones is very cowded, and there is no more room or demand for new products.

2.

However, we believe we've found a nich in the market for something a little bit different: a mobile phone with an infra-red camera that lets you see in the dark. Impressive, eh?

3.

However, this isn't its only uniqe selling point.

4.

It also has a huge range of other feachures, including a built-in navigation system, a scanner, a photo-editing suite, a dictionary and translator and even a thermometer.

5.

We call it the 'UltimafoneÂŽ', and we've just applied for a patient so that no-one else can copy it.

6.

It was conceived by our inovative designs team, led by the brilliant Kevin Anorak.

7.

We plan to lunch it early in the New Year.

8.

You'll find the 'UltimafoneÂŽ' on page 1 of our latest mobile phones brocure.

9.

As you can see, it's the ultimate must-have opmarket accessory.

10.

We made the decision to start making it after extensive reserch into what people wanted from a mobile phone in the 21st century.

11.

Of course, we won't sell many without a great deal of advertiseing.

12.

As a result, we're starting a major campain to let the public know all about it.

13.

We're going to premote the 'UltimafoneÂŽ' any way we can.

14.

There are going to be comercials on all of the main radio stations and television channels.

15.

In fact, we're hoping to get at least five spouts on each of the major channels during prime-time viewing.

16.

All the daily newspapers and major magazines will carry full-page advertisments.

17.

There will be plenty of product pacement in some of the biggest films of the year.

18.

You won't be able to walk down the street without seeing one of our giant billyboards.

19.

And you won't even be able to visit the Internet without our plop-ups coming up on your screen all the time!

20.

We're also going to send mailshoots to everyone who has ever bought one of our phones in the past.

21.

And naturally we'll be making some sponsership deals with some of the country's major sporting teams.

22.

If we're lucky, we might even get a famous rock star, actor or sports personality to endoarse it for us.

23.

After all, you can't beat an opinon leader for really helping to make a new product take off successfully.

44 For reference see Dictionary of Business - 4th edition (A&C Black Publishers Ltd, 978-0-713-67918-2)

Unit 0000 24.

There will also be big posters at every pont of sale (including department stores and music stores).

25.

In fact, there probably won't be a single major retale outlet anywhere in the country that doesn't sell the 'Ultimafone®'!

26.

Our expert sales team - that's you - will be there to give potential customers your pich and persuade them that the 'Ultimafone®' is just what they need.

27.

There will be lots of special offers, including miscounts on phone and talk-time packages.

28.

There will also be lots of giveways: free hands-free kits, free phone covers, free ringtones, and so on.

29.

Sales won't just be limited to the dommestic market.

30.

We believe that the 'Ultimafone®' will really catch on in the expot market as well.

31.

In fact, our overseas raps are already packing their suitcases and booking their flight tickets.

32.

Eventually we hope to have the 'Ultimafone®' made under franshise in mainland Europe, the Far East and South America.

33.

We're so confident of the reliability of the 'Ultimafone®' that they will all carry a free 3year guarantea.

34.

That's not bad, considering the where and tear that can be expected from the customers on an item such as this.

35.

You might also like to know that in addition to the phone itself, there will be a whole range of 'Ultimafone®' merchantizing, including 'Ultimafone®' T-shirts, 'Ultimafone®' trainers and even 'Ultimafone®' biscuits!

36.

They will all carry the soon-to-be famous 'Ultimafone®' brant name.

37.

They will all display a distinctive 'Ultimafone®' loco.

38.

And they will all come in an attractive, instantly-recognisable 'Ultimafone®' pakaging.

39.

Our latest cattalog has the whole range!

40.

We think it's the best invention since the microchip, although obviously some people will tell you that it's just hyp, and we're making a lot of fuss about nothing.

41.

They'll say that the 'Ultimafone®' is nothing more than a fat, and that this time next year nobody will want one!

42.

However, I just know it will sell well, and I bet our competiton is getting really worried!

43.

In the war for new customers, we're going to tramp them!

44.

However, we mustn't be too complacent. We will be trucking our buying public over the next year or so to see how they react to the 'Ultimafone®'.

45.

So get out there, and canvince as many people as possible that the 'Ultimafone®' is the only mobile phone they'll ever need!

Also see Sales and marketing 2 on the next page.

45 For reference see Dictionary of Business - 4th edition (A&C Black Publishers Ltd, 978-0-713-67918-2)

Unit 0000 Sales and marketing 2 Rearrange the letters in bold in these definitions and explanations to make words connected with sales and marketing. Then write these words in the appropriate space in the grid. If you do this correctly, you will reveal a three-word idiomatic expression in the shaded vertical strip that marketing people use to describe people who are easy marketing targets because they are already thinking of buying a product or service.

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

The process of a product going out of date because of progress in design or technology, and therefore becoming less useful or valuable, is known as bencsoslecoe. moonPtior is the means of conveying the message about a product or service to potential customers (for example, publicity, a sales campaign, television commercials, etc). ehlaWoles is a word referring to the business of buying goods from manufacturers and selling them in large quantities to retailers, who then sell in smaller quantities to the public. magencrkhiBn is the system of measuring the performance of a company against the performance of other companies in the same sector.

Unsolicited mail advertising, and especially email advertising, is known as amsp (named after a famous American brand of tinned meat).

The transfer of rights to manufacture or market a particular product to another individual or organisation through a legal arrangement or contract is called niligesnc.

The brand name of a product that is recognised around the world is known as a boglla brand.

A ephlrsadei is a retail outlet distributing, selling and servicing products (especially cars) on behalf of a manufacturer.

A wdorknma is the reduction of the price of something to less than its usual price.

When a new product or service is tested on a small group of consumers in order to try to find out the reactions of a larger group of consumers, this is known as pigslman.

The adding of new types of products to the range already made is known as avidfictionsier. mingerkeaTlet is the selling of a product or service by telephone.

An organisation that delivers products to retailers on behalf of a manufacturer is called a isorditbtru.

A eberife is an informal word for a product or service that is given away, usually to encourage people to buy a bigger product or service, or to advertise that product or service (for example, a pen with the company name on).

In radio, television and cinema advertising, tamirei is the amount of time given to an advertisement.

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

Also see Sales and marketing 3 on the next page.

46 For reference see Dictionary of Business - 4th edition (A&C Black Publishers Ltd, 978-0-713-67918-2)

Sales and marketing Unit 0000 3 Match each definition in sentences 1 – 32 with an appropriate word 'pair' connected with sales and marketing. The first word of each pair can be found hidden in the top box, and the second word can be found hidden in the bottom box. These words can be found by reading from left to right ( ), and / or from top to bottom ( ). The first one has been done as an example.

(Note that in some cases the same word may be needed more than once, but will only appear once in each grid).

C R I S I S M R Y I A F K F Z D R I V E N A M A R K E T H L X R

Q I S J Z V Q T A R G E T O X G R O U P F O R E C A S T J Z M E

P R E M I U M P R E S S R C B D E L E G A T I O N L E V E N A L

W O D K S A L E S O S G A U R Q P A B A N D O N M E N T K P N E

E P C O R P O R A T E H D S E W R H R I S V D F B A S M R R A A

P U B L I C W T U P D J E C A G E O A O C A L L A D E A E O G S

R M A I L I N G B R A N D O K O S U N P H L F E S E N R L T E E

O A F C U S T O M E R W L N C O S S D C E U A A E R S K A E M T

W P R O D U C T A W L H H S V D U E Y A M E I D I S I E T C E O

N R G L X B E R R A O I I U B S R T U R E S R E M H T T I T N F

T I A D D E D A K R S T G M N L E A D E R W A R A I I I O I T F

Y C L I E N T D E D S E H E M E R L O Y A L T Y G P V N N O C E

U E H L C N N E T W O R K R Q A W A R E N E S S E G E G G N V R

P L D I F F E R E N T I A T I O N

1.

An increase in the attractiveness to customers of a product or service which is achieved by adding something to it (for example, a computer might come with pre-loaded software, a printer, scanner, etc). = added value

2.

A large exhibition and meeting for advertising and selling a specific type of product.

3.

A long-term customer preference for a particular product or service (for example, someone who always buys Mazda cars because he thinks they are better than other cars on the market).

4.

A carefully selected representative range of consumers used for the purposes of providing feedback on likes and preferences.

5.

To reach the point at which revenue (the amount of money received for selling something) is equal to the costs of production.

47 For reference see Dictionary of Business - 4th edition (A&C Black Publishers Ltd, 978-0-713-67918-2)

Unit 0000 6.

A system that gives incentives to customers to continue using the same shop or service (for example, by collecting points that they can redeem on future purchases).

7.

A competition between companies to get a larger market share by cutting prices.

8.

Machines which are used in the kitchen, such as washing machines, refrigerators, etc.

9.

An organisation that specialises in planning, creating and implementing direct mail campaigns for clients.

10.

A marketing technique that promotes and emphasises a product's difference from other products of a similar nature.

11.

The activity of looking after customers so that they do not become dissatisfied.

12.

A telephone call or sales visit where the sales person has no appointment and the client is not an established customer.

13.

Actions taken by an organisation to protect itself when unexpected events or situations occur that could threaten its success or continued operation (for example, a competitor selling a better product at a lower price).

14.

The regular customers of an organisation or professional person.

15.

The selling of goods or services through a linked group of self-employed agents or representatives.

16.

An item in a shop that is sold below cost price in order to attract customers into the shop.

17.

A prediction of future sales based mainly on past sales performance.

18.

A two-word adjective used to describe a sales technique in which a customer is forced to buy something that he / she does not really want.

19.

The level of recognition that consumers have of a company name (or its products) and its specific category (for example, most people know that McDonaldsÂŽ sell fast food, especially burgers).

20.

The practice of building up and keeping contacts with customers, clients, the general public, etc.

21.

A product or service which sells the most in a market.

22.

A sheet giving news about something (for example, a new product) which is sent to newspapers and television and radio stations so that they can use the information.

23.

A two-word adjective used to describe a product or service for which sales remain constant no matter what its price because it is essential to buyers.

24.

The ending of the manufacture and sale of a product.

25.

The safeguarding of customers' interests in terms of quality, price and safety.

26.

A group of manufacturers or suppliers who visit another country to increase export business.

27.

An idea which a company would like the public to have of it.

28.

The establishment of price levels in a market by a dominant company or brand.

29.

The people to whom a company is planning to sell its goods or services.

30.

A sales promotion technique in which customers are offered a 'free gift'.

31.

The name of a store which is used on products which are specially packed (and sometimes produced) for that store.

32.

Using your knowledge of your customers in order to determine the corporate strategy of your company or organisation.

48 For reference see Dictionary of Business - 4th edition (A&C Black Publishers Ltd, 978-0-713-67918-2)