DICTIONARY OF

MARKETING
third edition
DICTIONARY OF
MARKETING
third edition

A. Ivanovic MBA
P.H. Collin

BLOOMSBURY
 A BLOOMSBURY REFERENCE BOOK

Originally published by Peter Collin Publishing

Third edition published 2003

Second edition published 1996
First edition published 1989

Bloomsbury Publishing Plc

38 Soho Square
London W1D 3HB

© Copyright A. Ivanovic & P H Collin 1989, 1996

This edition © copyright Bloomsbury Publishing Plc 2003

All rights reserved. No part of this publication may be reproduced

in any form or by any means without the permission of the publishers

British Library Cataloguing-in-Publication Data

A catalogue record for this book is available from the British Library

ISBN 0-7475-6621-6
eISBN-13: 978-1-4081-0213-8
Text computer typeset by Bloomsbury Publishing
Printed in Italy by Legoprint
PREFACE TO FIRST EDITION

This dictionary provides the user with a comprehensive vocabulary of terms used in
marketing. It covers such aspects of the subject as market research, advertising,
promotional aids and selling techniques.

The main words are explained in simple English, and, where appropriate, examples
are given to show how the words are used in context. Quotations are also given from
various magazines and journals, which give an idea of how the terms are used in real
life.

The Supplement at the back of the book gives some further information which may
be of use to the user.

We are particularly grateful to Margaret Jull Costa and Stephen Curtis for valuable
comments which they made on the text.

PREFACE TO SECOND EDITION

Business terminology changes rapidly, and this second edition includes a variety of
new terms and expressions which have come into use since the first edition was
published. We have also included new examples and quotations from recent
magazines.

Also included is a pronunciation guide for the main entry words.

PREFACE TO THIRD EDITION

This third edition of the dictionary takes into account the many new terms that have
come into marketing with the growth of e-commerce and the Internet. The
supplement at the back of the book has also been comprehensively updated.

We are grateful to the following for their valuable comments on the text: Ian Linton,
Georgia Hole, Dinah Jackson and Sandra Anderson.
Pronunciation

The following symbols have been used to show the pronunciation of the main words
in the dictionary.

Stress has been indicated by a main stress mark (
) and a secondary stress mark
(  ). Note that these are only guides as the stress of the word changes according to
its position in the sentence.

Vowels Consonants

 back b buck
ɑ harm d dead
ɒ stop ð other
a type d jump
aυ how f fare
aə hire  gold
aυə hour h head
ɔ course j yellow
ɔ annoy k cab
e head l leave
eə fair m mix
e make n nil
eυ o s save
 word ʃ shop
i keep t take
i happy tʃ change
ə about θ theft
 fit v value
ə near w work
u annual x loch
u pool  measure
υ book z zone
υə tour
& shut
ABC method 1 accelerator

ABC method /
e bi si
meθəd/ absolute cost /
bsəlut kɒst/
noun a sales method, where the cus- noun the actual cost of placing an adver-
tomer’s attention is attracted, the sales- tisement in a magazine or other adver-
person then shows the benefits of the tising medium
product to the customer, and finally absolute monopoly /
bsəlut mə-
closes the deal. Full form attention, nɒpəli/ noun a situation where only
benefit, close one producer or supplier produces or
ABCs abbr Audit Bureau of supplies something 쑗 The company has
Circulations an absolute monopoly of imports of
above-the-fold /ə
b v ðə fəυld/ French wine. 쑗 The supplier’s absolute
noun the part of a webpage which is monopoly of the product meant that cus-
seen first without having to scroll, and tomers had to accept his terms.
so is preferred for advertising absorb /əbzɔb/ verb to take in a
above-the-line advertising /ə
b v small item so as to form part of a larger
ðə lan dvətazŋ/ noun advertising one 왍 overheads have absorbed all
for which a payment is made and for our profits all our profits have gone in
which a commission is paid to the ad- paying overhead expenses 왍 to absorb
vertising agency, e.g. an advertisement a loss by a subsidiary to write a subsid-
in a magazine or a stand at a trade fair. iary company’s loss into the group ac-
Compare below-the-line advertising counts 왍 a business which has been
(NOTE: as opposed to direct marketing) absorbed by a competitor a small busi-
ness which has been made part of a
absenteeism /
bs(ə)ntiz(ə)m/ larger one
noun staying away from work for no
good reason 쑗 the rate of absenteeism absorption /əbzɔpʃən/ noun mak-
or the absenteeism rate always in- ing a smaller business part of a larger
creases in fine weather 쑗 Low produc- one, so that the smaller company in ef-
tivity is largely due to the high level of fect no longer exists
absenteeism. 쑗 Absenteeism is high in absorption costing /əbzɔpʃən
the week before Christmas.
kɒstŋ/ noun costing a product to in-
‘…but the reforms still hadn’t fundamentally clude both the direct costs of production
changed conditions on the shop floor:
absenteeism was as high as 20% on some days’ and the indirect overhead costs as well
[Business Week] accelerated depreciation /ək-
absolute /bsəlut/ adjective com-
seləretd dpriʃeʃ(ə)n/ noun a
plete or total system of depreciation which reduces
absolute advantage /
bsəlut əd- the value of assets at a high rate in the
vɑntd/ noun an advantage enjoyed early years to encourage companies, as a
by an area of the world which can pro- result of tax advantages, to invest in new
duce a product more cheaply than other equipment
areas 쑗 For climatic reasons, tropical accelerator /əkseləretə/ noun the
countries have an absolute advantage in theory that a change in demand for con-
that type of production. sumer goods will result in a greater
accept 2 account

change in demand for the capital goods the computer. 앳 access to the market
used in their production 1. the legal right to sell in a particular
accept /əksept/ verb 1. to take some- market 2. the ability to reach a market
thing which is being offered 왍 to accept by promotion and distribution
delivery of a shipment to take goods Access /kses/ a credit card system
into the warehouse officially when they formerly operated by some British
are delivered 2. to take something which banks, part of the MasterCard network
is being offered or to say ‘yes’ or to accessibility /ək
sesblti/ noun
agree to something 쑗 to accept an offer the ability of a market to be reached by
of employment 쑗 she accepted the offer promotion and distribution 쑗 There is
of a job in Australia 쑗 he accepted much demand in the market, but, be-
£2000 in lieu of notice 3. to agree for- cause of the great distances involved,
mally to receive something or to be re- accessibility is a problem. 쑗 We must
sponsible for something analyse the geographical aspects in as-
acceptable /əkseptəb(ə)l/ adjective sessing the market’s accessibility.
which can be accepted 쑗 Both parties access time /kses tam/ noun the
found the offer acceptable. 쑗 The terms time taken by a computer to find data
of the contract of employment are not stored in it
acceptable to the candidate.
accommodation bill /ə
kɒmə-
acceptance /əkseptəns/ noun 왍 ac- deʃ(ə)n
bl/ noun a bill of exchange
ceptance of an offer agreeing to an of- where the person signing (the ‘drawee’)
fer 왍 to give an offer a conditional is helping another company (the
acceptance to accept an offer provided ‘drawer’) to raise a loan
that specific things happen or that spe- account /əkaυnt/ noun 1. a record of
cific terms apply 왍 we have his letter of financial transactions over a period of
acceptance we have received a letter time, such as money paid, received, bor-
from him accepting the offer rowed or owed 쑗 Please send me your
acceptance against documents account or a detailed or an itemized ac-
/ək
septəns ə"enst dɒkjυmənts/ count. 2. (in a shop) an arrangement
noun a transaction where the seller takes which a customer has to buy goods and
charge of the shipping documents for a pay for them at a later date, usually the
consignment of goods when a buyer ac- end of the month 쑗 to have an account
cepts a bill of exchange 쑗 Acceptance or a charge account or a credit account
against documents protects the seller with Harrods 쑗 Put it on my account or
when sending goods which are not yet charge it to my account. 왍 to open an
paid for. account (of a customer ) to ask a shop
.

acceptance sampling /əkseptəns to supply goods which you will pay for

sɑmplŋ/ noun testing a small sample at a later date 왍 to open an account or
of a batch to see if the whole batch is to close an account (of a shop) to start
good enough to be accepted or to stop supplying a customer on
accepted bill /ək
septd bl/ noun a credit 왍 to settle an account to pay all
bill of exchange which has been signed, the money owed on an account 왍 to stop
and therefore accepted by the buyer an account to stop supplying a cus-
tomer until payment has been made for
acceptor /əkseptə/ noun a person goods supplied 3. 왍 on account as part
who accepts a bill of exchange by sign- of a total bill 왍 to pay money on ac-
ing it, thus making a commitment to pay count to pay to settle part of a bill 왍 ad-
it by a specified date vance on account money paid as a part
access /kses/ noun 왍 to have ac- payment 4. a customer who does a large
cess to something to be able to obtain amount of business with a firm and has
or reach something 쑗 She has access to an account with it 쑗 Smith Brothers is
large amounts of venture capital. 쐽 verb one of our largest accounts. 쑗 Our sales
to call up data which is stored in a com- people call on their best accounts twice
puter 쑗 She accessed the address file on a month. 5. 왍 to keep the accounts to
accountancy 3 achiever

write each sum of money in the account account handler /əkaυnt

book 쑗 The bookkeeper’s job is to enter
hndlə/, account manager /əkaυnt
all the money received in the accounts.
mndə/ noun a person who works in
6. STOCK EXCHANGE a period during an advertising agency, and who is re-
which shares are traded for credit, and at sponsible for a particular client
the end of which the shares bought must ‘…we have moved the account because we
be paid for (NOTE: On the London thought it would be better suited in a smaller
Stock Exchange, there are twenty-four agency’ [Marketing Week]
accounts during the year, each running accounting /əkaυntŋ/ noun the
usually for ten working days.) 7. a no- work of recording money paid, re-
tice 왍 to take account of inflation or to ceived, borrowed or owed 쑗 accounting
take inflation into account to assume methods or accounting procedures 쑗
that there will be a specific percentage accounting system 쑗 accounting
of inflation when making calculations 8. machine
an arrangement which a company has ‘…applicants will be professionally qualified
with an advertising agency, where the and have a degree in Commerce or Accounting’
agency deals with all promotion for the [Australian Financial Review]
company 쑗 The company has moved its accounts department /əkaυnts
$3m account to another agency. 쑗 The d
pɑtmənt/ noun a department in a
small agency lost the account when the company which deals with money paid,
company decided it needed a different received, borrowed or owed
marketing approach. 쑗 Three agencies accounts manager /əkaυnts
were asked to make presentations, as
mndə/ noun the manager of an ac-
the company had decided to switch its counts department
account. 쐽 verb 왍 to account for to ex-
plain and record a money transaction 쑗 accounts payable /ə
kaυnts
to account for a loss or a discrepancy 쑗 peəb(ə)l/ noun money owed by a
The reps have to account for all their company
expenses to the sales manager. accredited agent /ə
kredtd
edənt/ noun an agent who is ap-
accountancy /əkaυntənsi/ noun the pointed by a company to act on its
work of an accountant 쑗 They are study- behalf
ing accountancy or They are accoun-
tancy students. (NOTE: American accurate /kjυrət/ adjective correct
English is accounting in this meaning) 쑗 The sales department made an accu-
rate forecast of sales. 쑗 The designers
accountant /əkaυntənt/ noun 1. a produced an accurate copy of the plan.
person who keeps a company’s accounts
쑗 The chief accountant of a manufactur- accurate description /
kjυrət d-
ing group. 2. a person who advises a skrpʃən/ noun an honest and true de-
company on its finances 쑗 I send all my scription of a product or service in an
income tax queries to my accountant. 3. advertisement or catalogue 쑗 As the ad-
a person who examines accounts vertisement was clearly not an accurate
description of the product, the company
account book /əkaυnt bυk/ noun a had to pay a fine. 쑗 It is not an accurate
book with printed columns which is description of the product to state that it
used to record sales and purchases gives out more light than the sun.
account director /əkaυnt da- accurately /kjυrətli/ adverb cor-

rektə/ noun a person who works in an rectly 쑗 The second quarter’s drop in
advertising agency and who oversees sales was accurately forecast by the
various account managers who are each computer.
responsible for specific clients achiever /ətʃivə/ noun a person who
account executive /əkaυnt "- is successful or who tends to achieve his

zekjυtv/ noun an employee who or her objectives 쑗 It was her reputation
looks after customers or who is the link as a high achiever that made us think of
between customers and the company headhunting her. 쏡 VALS
acknowledge 4 ad hoc

acknowledge /əknɒld/ verb to tell was carried out to see how fast the ma-
a sender that a letter, package or ship- chinists worked. (NOTE: no plural)
ment has arrived 쑗 He has still not ac- ad /d/ noun same as advertisement
knowledged my letter of the 24th. 쑗 We (informal ) 쑗 We put an ad in the paper.
.

acknowledge receipt of your letter of 쑗 She answered an ad in the paper. 쑗

June 14th. He found his job through an ad in the
acknowledgement /ək- paper.
nɒldmənt/ noun the act of Ad-A-Card /d ə kɑd/ noun US a
acknowledging 쑗 She sent an acknowl- type of perforated card bound into a
edgement of receipt. 쑗 The company magazine which a reader can tear off
sent a letter of acknowledgement after I and return to the advertiser
sent in my job application.
adapt /ədpt/ verb to change some-
ACORN /ekɔn/ noun a classifica- thing a little to fit in with changing cir-
tion of residential areas into categories, cumstances 쑗 This product must be
based on the type of people who live in adapted in line with recent technologi-
them, the type of houses, etc., much cal developments. 쑗 The device has
used in consumer research 쑗 ACORN been adapted for use on board aircraft.
will help us plan where to concentrate
our sales visits. Full form a classifica- adaptation /
dpteʃ(ə)n/ noun 1.
tion of residential neighbourhoods a small change 쑗 With a few minor ad-
aptations, the machine will cut square
acquire /əkwaə/ verb to buy 쑗 to ac- holes as well as round ones. 2.
quire a company 쑗 We have acquired a something which has been adapted 쑗
new office building in the centre of This machine is an adaptation of our
town. original model.
acquirer /əkwaərə/ noun a person adaptive control model /ə
dptv
or company which buys something kəntrəυl
mɒd(ə)l/ noun US a model
acquisition /
kwzʃ(ə)n/ noun 1. for planning advertising expenditure in
something bought 쑗 The chocolate fac- line with changes in consumer re-
tory is our latest acquisition. 2. the act sponses to advertising
of getting or buying something 왍 data ad banner /d
bnə/ noun same as
acquisition or acquisition of data ob- banner
taining and classifying data 3. the action
of acquiring new customers, as opposed ad click /d klk/ noun same as
to retention, which is keeping the loy- click-through
alty of existing customers ad click rate /d klk
ret/ noun
acronym /krənm/ noun a word same as click-through rate
which is made up from the initials of added value /
dd vlju/ noun an
other words 쑗 The name of the company amount added to the value of a product
was especially designed to provide a or service, being the difference between
catchy acronym. 쑗 BASIC is an acro- its cost and the amount received when it
nym for Beginner’s All-purpose Sym- is sold. Wages, taxes, etc. are deducted
bolic Instruction Code. from the added value to give the profit. 쏡
across-the-board /ə
krɒs ðə bɔd/ Value Added Tax
adjective (of an advertisement) running add-on sales /d ɒn
selz/ noun
for five consecutive days from Monday the sale of items which complement
to Friday items being bought, e.g. washing pow-
action shot /kʃən
ʃɒt/ noun a der sold with a dishwasher
scene with movement either in a film or address label /ədres
leb(ə)l/ noun
on TV a label with an address on it
activity sampling /ktvti ad hoc /d hɒk/ adjective ‘for this

sɑmplŋ/ noun an observation of tasks particular purpose’ 쑗 They run ad hoc
and their performances, carried out at surveys to test customer reaction when
random intervals 쑗 Activity sampling products are launched. 쑗 Shipping by
ad hoc research 5 advance

airfreight was an ad hoc arrangement of other employees in a business 쑗 After

initially. several years as a college teacher, she
ad hoc research /
d hɒk rs&tʃ/ hopes to become an administrator. 2. a
noun research carried out for a particu- person appointed by a court to manage
lar client or in a particular market the affairs of someone who dies without
leaving a will
ad impression /d m
preʃ(ə)n/
noun same as ad view adopt /ədɒpt/ verb to agree to some-
thing or to accept something
adjacency /ədes(ə)nsi/ noun a
commercial which is run between two adopter /ədɒptə/ noun a customer
TV programmes who adopts a particular product
adjust /əd st/ verb to change some- adoption /ədɒpʃən/ noun the deci-
thing to fit new conditions 쑗 to adjust sion to buy or use a particular product 쑗
prices to take account of inflation 쑗 More promotion was needed to speed up
prices are adjusted for inflation adoption of the product. 쑗 Widespread
‘…inflation-adjusted GNP moved up at a 1.3% adoption of its new shampoo range has
annual rate’ [Fortune] made the company the market leader.
‘Saudi Arabia will no longer adjust its adoption curve /ədɒpʃən k&v/
production to match short-term supply with noun a line on a graph showing how
demand’ [Economist]
many consumers adopt or buy a new
‘…on a seasonally-adjusted basis, output of
trucks, electric power, steel and paper
product at various time periods after the
decreased’ [Business Week] launch date 쑗 The adoption curve shows
that most people who buy the product do
adman /dmn/ noun a man who
so at a fairly late stage.
works in advertising (informal ) 쑗 The
.

admen are using balloons as promo- Adshel /dʃel/ noun a trademark for
tional material. (NOTE: plural is admen) a poster site for advertisements in a bus
shelter
administer /ədmnstə/ verb to or-
ganise, manage or direct the whole of an adspend /dspend/ noun the
organisation or part of one 쑗 She admin- amount of money spent on advertising
isters a large pension fund. ad transfer /d
trnsf&/ noun
administered channel /əd- same as click-through

mnstəd tʃn(ə)l/ noun a distribu- ad valorem duty /
d vəlɔrəm
tion channel in which there is coopera-
djuti/ noun the duty calculated on the
tion between businesses sales value of the goods
administered price /ədmnstəd advance /ədvɑns/ noun 1. money
pras/ noun US a price fixed by a man- paid as a loan or as a part of a payment
ufacturer which cannot be varied by a to be made later 쑗 to receive an advance
retailer (NOTE: the British equivalent is from the bank 쑗 to make an advance of
resale price maintenance) £100 to someone 쑗 to pay someone an
administration /əd
mnstreʃ(ə)n/ advance against a security 쑗 She asked
noun the running of a company in re- if she could have a cash advance. 쑗 We
ceivership by an administrator ap- paid her an advance on account. 쑗 Can
pointed by the courts I have an advance of £100 against next
administration costs /əd
mn- month’s salary? 2. an increase 쑗 an ad-
vance in trade with Eastern European
streʃ(ə)n
kɒsts/ noun the costs of
countries 쑗 an advance in prices 3. 왍 in
management, not including production,
advance early, before something hap-
marketing or distribution costs
pens 쑗 freight payable in advance 쑗
administrative /ədmnstrətv/ ad- prices fixed in advance 쐽 adjective
jective referring to administration 쑗 ad- early 쑗 advance booking 쑗 advance
ministrative details 쑗 administrative payment 쑗 Advance holiday bookings
expenses are up on last year. 쑗 You must give
administrator /ədmnstretə/ seven days’ advance notice of with-
noun 1. a person who directs the work drawals from the account. 쐽 verb 1. to
advance freight 6 advertising expenditure

lend 쑗 The bank advanced him 쑗 The company has asked an advertis-
£100,000 against the security of his ing agent to prepare a presentation. 왍
house. 2. to increase 쑗 Prices generally to take advertising space in a paper to
advanced on the stock market. 3. to book space for an advertisement in a
make something happen earlier 쑗 The newspaper
date of the AGM has been advanced to
advertising agency /dvətazŋ
May 10th. 쑗 The meeting with the Ger-

edənsi/ noun an office which plans,
man distributors has been advanced
designs and manages advertising for
from 11.00 to 09.30.
other companies
advance freight /ədvɑns fret/
noun freight which is payable in advertising appeal /dvətazŋ ə-
advance
pil/ noun the appeal of an advertise-
ment to the intended audience
advance man /ədvɑns mn/ noun
US a person who publicizes a perfor- advertising appropriation
mance and sells tickets for it before the /dvətazŋ əprəυpri
eʃ(ə)n/ noun
performers arrive money set aside by an organisation for
its advertising 쑗 The marketing director
advert /dv&t/ noun GB same as and the chief accountant have yet to fix
advertisement (informal ) 쑗 to put an
.
the advertising appropriation. 쑗 We
advert in the paper 쑗 to answer an ad- cannot afford as large an advertising
vert in the paper 쑗 classified adverts 쑗 appropriation as last year.
display adverts
advertise /dvətaz/ verb to arrange advertising brief /dvətazŋ
brif/ noun basic objectives and instruc-
and pay for publicity designed to help
tions concerning an advertising cam-
sell products or services or to find new
paign, given by an advertiser to an
employees 쑗 to advertise a vacancy 쑗
advertising agency 쑗 The brief stressed
to advertise for a secretary 쑗 to adver-
the importance of the market segment to
tise a new product
be targeted. 쑗 The advertising brief was
advertisement /ədv&tsmənt/ not detailed enough and did not show
noun 1. a notice which shows that what sort of product image the adver-
something is for sale, that a service is tiser wanted to create.
offered, that someone wants something
or that a job is vacant 2. a short film on advertising budget /dvətazŋ
television or a short announcement on
b dt/ noun money planned for
the radio which tries to persuade people spending on advertising 쑗 Our advertis-
to use a product or service ing budget has been increased.
advertisement manager /əd- advertising campaign
v&tsmənt
mndə/ noun the man- /dvətazŋ km
pen/ noun
ager in charge of the advertisement sec- co-ordinated publicity or advertising
tion of a newspaper drive to sell a product
advertisement panel /əd- advertising control /dvətazŋ
v&tsmənt
pn(ə)l/ noun a specially kən
trəυl/ noun legislative and other
designed large advertising space in a measures to prevent abuses in advertis-
newspaper ing 쑗 If voluntary advertising control
advertiser /dvətazə/ noun a per- doesn’t work, then the government will
son or company that advertises 쑗 The step in with legislation.
catalogue gives a list of advertisers. advertising department
advertising /dvətazŋ/ noun the /dvətazŋ d
pɑtmənt/ noun the
business of announcing that something department in a company that deals with
is for sale or of trying to persuade cus- the company’s advertising
tomers to buy a product or service 쑗 She advertising expenditure
works in advertising or She has a job in /dvətazŋ k
spendtʃə/ noun the
advertising. 쑗 Their new advertising amount a company spends on its
campaign is being launched next week. advertising
advertising hoarding 7 aerial advertising

advertising hoarding /dvətazŋ time over the telephone. 쑗 How much

hɔdŋ/ noun a billboard or wooden advertising time does this programme
surface onto which advertising posters allow for?
are stuck 쑗 Advertising hoardings have advertising weight /dvətazŋ
been taken down in the town since the wet/ noun the amount of advertising
council banned posters. 쑗 Giant adver- given to a brand
tising hoardings were placed in fields
on either side of the road. advertorial /
dvətɔriəl/ noun text
in a magazine which is not written by
advertising jingle /dvətazŋ the editorial staff but by an advertiser

dŋ"(ə)l/ noun a short and easily re- ‘The objective of advertising for new products
membered tune or song to advertise a differs from that of advertising for improved
product on television, etc. products’ [International Journal of Advertising]
advertising manager /dvətazŋ ‘…in 1987, the advertising expenditure total
was £6,264m’ [Precision Marketing]

mndə/ noun the manager in charge
‘…as media costs have spiralled, more financial
of advertising a company’s products directors are getting involved in the advertising
advertising medium /dvətazŋ process’ [Marketing Week]

midiəm/ noun a type of advertise- advice /ədvas/ noun a notification
ment, e.g. a TV commercial 쑗 The prod- telling someone what has happened 왍 as
uct was advertised through the medium per advice according to what is written
of the trade press. (NOTE: plural for this on the advice note
meaning is media)
advice of dispatch /əd
vas əv d-
advertising message /dvətazŋ sptʃ/ noun communication from

mesd/ noun whatever a company is seller to buyer stating that goods have
trying to communicate in an advertise- been sent, specifying time and place of
ment 쑗 Bad copywriting made the ad- arrival 쑗 We have paid for the goods but
vertising message unclear. 쑗 The as yet have received no advice of dis-
advertising message was aimed at the patch. 쑗 The advice of dispatch in-
wrong target audience and therefore got formed the buyer that the goods would
little response. 쑗 The poster does not arrive at Southampton on the morning
use words to get its advertising message of the 10th.
across.
ad view /d vju/ noun the number
advertising rates /dvətazŋ of times an advertisement is down-
rets/ noun the amount of money loaded from a webpage and assumed to
charged for advertising space in a news- have been seen by a potential customer
paper or advertising time on TV
advise /ədvaz/ verb to tell someone
advertising space /dvətazŋ what has happened 쑗 We have been ad-
spes/ noun a space in a newspaper set vised that the shipment will arrive next
aside for advertisements week.
advertising specialities advocacy advertising /dvəkəsi
/
dvətazŋ speʃiltiz/ plural noun
dvətazŋ/ noun advertising by a
special items given away as part of an business that expresses a particular
advertising campaign, e.g. T-shirts, point of view on some issue 쑗 Because
mugs, umbrellas, etc. of its prestige as a producer, the com-
Advertising Standards Author- pany’s advocacy advertising had great
ity /
dvətazŋ stndədz ɔ
θɒrəti/ influence. 쑗 The food company’s advo-
noun the independent body which over- cacy advertising condemned unhealthy
sees the system of self-regulation in the additives in canned produce. 쑗 Advo-
British advertising industry. Abbr ASA cacy advertising has changed the pub-
advertising time /dvətazŋ lic’s attitude to smoking.
tam/ noun the time on television or ra- aerial advertising /
eəriəl
dio set aside for advertising 쑗 Advertis- dvətazŋ/ noun advertising dis-
ing time is cheapest in the afternoon. 쑗 played in the air from balloons or planes
They spent a month selling advertising or in smoke designs 쑗 Aerial advertis-
affiliate 8 agent

ing proved to be an effective gimmick. 쑗 after-date /ɑftə det/ noun a refer-

Aerial advertising was used to attract ence on a bill of exchange to the length
the attention of people on the beach. of time allowed for payment after a spe-
affiliate /əfliet/ noun a local TV sta- cific date 쑗 The after-date allowed the
tion which is part of a national network buyer three months in which to pay.
affiliated /əfletd/ adjective con- after-sales service /
ɑftə selz
nected with or owned by another com- s&vs/ noun a service of a machine
pany 쑗 Smiths Ltd is one of our carried out by the seller for some time
affiliated companies. after the machine has been bought
affiliate directory /ə
fliət da- after-sight /ɑftə sat/ noun a type
rektəri/ noun a directory that lists of bill of exchange which is due to be
websites belonging to affiliate paid on a specific day after acceptance
programmes (NOTE: Affiliate directories agate /"ət/ noun US a measurement
provide information both to companies of advertising space in a newspaper,
that want to subscribe to a programme equal to one-fourteenth of an inch
and to those who want to set up their
own affiliate programmes.) age group /ed "rup/ noun a cate-
gory including all people whose ages
affiliate marketing /əfliət fall between two established points 쑗

mɑktŋ/ noun marketing that uses af- What age groups is this product meant
filiate programmes to appeal to? 쑗 Research shows an in-
affiliate partner /əfliət
pɑtnə/ crease in smoking among the 18–20 age
noun a company which puts advertising group.
onto its website for other companies, age limit /ed
lmt/ noun the top
who pay for this service age at which you are allowed to do a job
affiliate programme /əfliət 쑗 There is an age limit of thirty-five on

prəυ"rm/ noun a form of advertising the post of buyer.
on the web, in which a business per-
suades other businesses to put banners agency /edəns/ noun 1. an office
and buttons advertising its products or or job of representing another company
services on their websites and pays them in an area 쑗 They signed an agency
a commission on any purchases made agreement or an agency contract. 2. an
by their customers office or business which arranges things
for other companies
affinity card /əfnti kɑd/ noun
credit card where a percentage of each agency commission /edəns
purchase made is given by the credit kə
mʃ(ə)n/ noun the commission
card company to a stated charity charged by an advertising agency
affluent /fluənt/ adjective very rich agency mark-up /
edənsi mɑk
쑗 We live in an affluent society. 왍 the p/ noun an amount added by an adver-
mass affluent people with large sums of tising agency to purchases, which forms
money in liquid assets parts of the agency’s commission
affluent society /
fluənt səsaəti/ agency roster /edənsi
rɒstə/
noun a type of society where most peo- noun a group of different advertising
ple are rich agencies all working for a large
affordable method /əfɔdəb(ə)l company

meθəd/ noun a method of budgeting agent /edənt/ noun 1. a person who
how much can be spent on marketing represents a company or another person
and promotion, which is based on what in an area 쑗 to be the agent for IBM 2. a
you can afford, rather than what you person in charge of an agency 쑗 an ad-
want to achieve 쑗 Affordable method vertising agent 쑗 The estate agent sent
appeals to accountants, but won’t help me a list of properties for sale. 쑗 Our
us achieve a high enough market share trip was organised through out local
for the product. travel agent.
agent’s commission 9 aid-to-trade

agent’s commission /
edənts agreed price /ə"rid pras/ noun a

kəmʃ(ə)n/ noun money, often a per- price which has been accepted by both
centage of sales, paid to an agent the buyer and seller
aggregate /"r"ət/ adjective total, agreement /ə"rimənt/ noun a spo-
with everything added together 쑗 ag- ken or written contract between people
gregate output or groups which explains how they will
aggregate demand /
"r"ət d- act 쑗 a written agreement 쑗 an unwrit-
mɑnd/ noun total demand for goods ten or verbal agreement 쑗 to draw up or
and services from all sectors of the to draft an agreement 쑗 to break an
economy, such as individuals, compa- agreement 쑗 to sign an agreement 쑗 to
nies and the government 쑗 Economists witness an agreement 쑗 to reach an
are studying the recent fall in aggregate agreement or to come to an agreement
demand. 쑗 As incomes have risen, so on something 쑗 an international agree-
has aggregate demand. ment on trade 쑗 a collective wage
agreement 쑗 a marketing agreement
aggregate supply /
"r"ət sə- ‘…after three days of tough negotiations the
pla/ noun all goods and services on the company has reached agreement with its 1,200
market 쑗 Is aggregate supply meeting unionized workers’ [Toronto Star]
aggregate demand?
agreement of sale /ə
"rimənt əv
aggregator /"r"etə/ noun a sel/ noun a written contract that sets
website which collects news from other out in detail the terms agreed between
websites, allowing rapid syndication of the buyer and the seller when a property
information is sold
AGM abbr annual general meeting agree with /ə"ri wð/ verb 1. to say
agree /ə"ri/ verb 1. to approve 쑗 The that your opinions are the same as some-
auditors have agreed the accounts. 쑗 one else’s 쑗 I agree with the chairman
The figures were agreed between the that the figures are lower than normal.
two parties. 쑗 We have agreed the bud- 2. to be the same as 쑗 The auditors’ fig-
gets for next year. 쑗 The boss has ures do not agree with those of the ac-
agreed your prices. 쑗 The terms of the counts department.
contract are still to be agreed. 2. to say aid /ed/ noun something which helps
yes to something that is suggested 쑗 It 쐽 verb to help
has been agreed that the lease will run
for 25 years. 3. 왍 to agree to/on some- AIDA noun a model showing stages in
thing to approve something 쑗 After the effects of advertising on consumers,
some discussion he agreed to our plan. i.e. you attract their Attention, keep their
쑗 The bank will never agree to lend the
Interest, arouse a Desire and provoke
company £250,000. 쑗 We all agreed on Action to purchase. Full form atten-
the need for action. 왍 to agree to do tion, interest, desire, action
something to say that you will do some- aided recall /
edd rkɔl/ noun a
thing 쑗 She agreed to be chairman. 쑗 test to see how well someone remem-
Will the finance director agree to re- bers an advertisement by giving the re-
sign? 왍 to agree on something (of a spondent some help such as a picture
group of people) to come to a joint deci- which he or she might associate with it
sion about something 쑗 They have fi- 쑗 Even aided recall brought no reaction
nally agreed on a new marketing from the respondent. 쑗 Aided recall has
strategy. 쑗 Can we agree on a date for shown that we must make our advertis-
the new product launch? ing more striking. (NOTE: also called
agreed /ə"rid/ adjective which has prompted recall)
been accepted by everyone 쑗 We pay an aid-to-trade /
ed tə tred/ noun a
agreed amount each month. 쑗 The shop service which supports trade, e.g. bank-
is leased on agreed terms. 쑗 The agreed ing and advertising 쑗 The recession has
terms of employment are laid down in affected aids-to-trade and the industries
the contract. they support and supply. 쑗 At that time,
aim 10 ambient media

advertising was the fastest expanding air time /eə tam/, airtime noun the
aid-to-trade. time set aside for advertising on televi-
aim /em/ noun something which you sion or radio 쑗 How much air time do
try to do 쑗 One of our aims is to in- we need for this commercial? 쑗 We
crease the quality of our products. 왍 the should look for air time on the new ra-
company has achieved all its aims the dio station. 쑗 All the air time in the
company has done all the things it had world won’t sell this product.
hoped to do 쐽 verb to try to do some- aisle /al/ noun a space or passageway
thing 쑗 Each sales rep must aim to dou- between the shelves of products on dis-
ble their previous year’s sales. 쑗 We play in a supermarket
aim to be No. 1 in the market within two à la carte /
 l kɑt/ noun a system
years. whereby advertisers use the services of
air /eə/ noun a method of travelling or a whole range of businesses rather than
sending goods using aircraft 쑗 to send a relying on one agency over a long
letter or a shipment by air period
air carrier /eə
kriə/ noun a com- all-in rate /
ɔl n ret/, all-in price /-
pany which sends cargo or passengers
ɔl n pras/ noun a price which cov-
by air ers all items in a purchase such as deliv-
air forwarding /eə
fɔwədŋ/ noun ery, tax and insurance, as well as the
the process of arranging for goods to be goods themselves
shipped by air allowable expenses /ə
laυəb(ə)l
air freight /eə fret/ noun a method kspensz/ plural noun business ex-
of shipping goods in an aircraft 쑗 to penses which can be claimed against tax
send a shipment by air freight 쑗 air allowance /əlaυəns/ noun money re-
freight tariffs are rising moved in the form of a discount 쑗 an al-
airfreight /eəfret/ verb to send lowance for depreciation 쑗 an
goods by air 쑗 to airfreight a consign- allowance for exchange loss
ment to Mexico 쑗 We airfreighted the ‘…most airlines give business class the same
shipment because our agent ran out of baggage allowance as first class’
stock. [Business Traveller]
air letter /eə
letə/ noun a special ‘…the compensation plan includes base,
sheet of thin blue paper which when incentive and car allowance totalling $50,000+’
[Globe and Mail (Toronto)]
folded can be sent by air mail without an
envelope (NOTE: American English is alpha activity /lfə k
tvti/ noun
aerogramme) the measurement of a person’s brain ac-
airline /eəlan/ noun a company tivity as a way of measuring their reac-
which carries passengers or cargo by air tion to an advertisement
airmail /eəmel/ noun a way of send- alternate /ɔlt&nət/ adjective differ-
ing letters or parcels by air 쑗 to send a ent from what is actually used
package by airmail 쑗 Airmail charges alternate media /ɔl
t&nət midiə/
have risen by 15%. 쐽 verb to send let- adjective forms of advertising which are
ters or parcels by air 쑗 We airmailed the not direct mailing, e.g. TV commercials,
document to New York. magazine inserts, etc.
airmail envelope /eəmel alternative close /ɔlt&nətv

envələυp/ noun a very light envelope kləυz/ noun an act of ending a sales ne-
for sending airmail letters gotiation by asking the customer to
airmail transfer /eəmel
trnsf&/ choose something such as a method of
noun sending money from one bank to payment
another by airmail ambient media /
mbiənt midiə/
airtight /eətat/ adjective which does noun advertising media outdoors, e.g.
not allow air to get in 쑗 The goods are posters, advertisements on the sides of
packed in airtight containers. buses, etc.
ambush marketing 11 appraisal

ambush marketing /mbυʃ annual depreciation /
njuəl

mɑktŋ/ noun the linking of a promo- dpriʃieʃ(ə)n/ noun a reduction in the
tion campaign to an event such as a book value of an asset at a particular
sporting contest which is sponsored by rate per year. 쏡 straight line
another manufacturer without paying a depreciation
fee annual income /
njuəl nk m/
analyse /nəlaz/, analyze verb to noun money received during a calendar
examine someone or something in detail year
쑗 to analyse a statement of account 쑗 to
annual report /
njuəl rpɔt/ noun
analyse the market potential a report of a company’s financial situa-
analysis /ənləss/ noun a detailed tion at the end of a year, sent to all the
examination and report 쑗 a job analysis shareholders
쑗 market analysis 쑗 Her job is to pro-
anonymous product /ə
nɒnməs
duce a regular sales analysis. (NOTE:
prɒd kt/ noun a product with no ap-
plural is analyses)
parent brand name, used in advertise-
analyst /nəlst/ noun a person who ments to highlight the product being
analyses 쑗 a market analyst 쑗 a systems promoted 쑗 Brand X is the anonymous
analyst product which never gets your washing
ancillary-to-trade /n
sləri tə completely white. 쑗 No one watching
tred/ noun a service which supports the commercial would believe the anon-
trade, e.g. banking and advertising 쑗 ymous product was as bad is it seemed.
The recession has affected ancillar- 쑗 What happens if the respondent
ies-to-trade and the industries they sup- chooses the anonymous product instead
port and supply. 쑗 Advertising was the of ours?
fastest expanding ancillary-to-trade at anti- /nti/ prefix against
that time.
anti-dumping /ntid mpŋ/ adjec-
animatic /
nmtk/ noun a rough tive intended to stop surplus goods be-
outline version of a television commer- ing sold in foreign markets at a price
cial shown to the advertiser for approval that is lower than their marginal cost
쑗 The animatic was sent back to the
agency with several criticisms. 쑗 The anti-inflationary measure /
nti
animatic impressed the advertiser be- nfleʃ(ə)n(ə)ri
meə/ noun a mea-
cause it put the message over stylishly. sure taken to reduce inflation
쑗 If the animatic is approved, the cre- anti-trust /
nti tr st/ adjective at-
ative team will begin work on the final tacking monopolies and encouraging
product. competition 쑗 anti-trust laws or
animation /
nmeʃ(ə)n/ noun a legislation
cartoon film, a film made from drawings any other business /
eni ðə
annual /njuəl/ adjective for one bzns/ noun an item at the end of an
year 쑗 an annual statement of income 쑗 agenda, where any matter can be raised.
They have six weeks’ annual leave. 쑗 Abbr AOB
The company has an annual growth of AOB abbr any other business
5%.
‘…real wages have risen at an annual rate of
appeal /əpil/ noun being attractive
only 1% in the last two years’ [Sunday Times] apperception /
pəsepʃən/ noun 쒁
‘…the remuneration package will include an thematic apperception test
attractive salary, profit sharing and a company
car together with four weeks annual holiday’ application form /plkeʃ(ə)n
[Times] fɔm/ noun a form to be filled in when
annual accounts /
njuəl ə- applying for a new issue of shares or for
kaυnts/ plural noun the accounts pre- a job
pared at the end of a financial year 쑗 appraisal /əprez(ə)l/ noun a calcu-
The annual accounts have been sent to lation of the value of someone or
the shareholders. something
appraiser 12 article

‘…we are now reaching a stage in industry and prove the terms of a contract 쑗 The
commerce where appraisals are becoming part proposal was approved by the board.
of the management culture. Most managers now
take it for granted that they will appraise and be APR abbr annual percentage rate
appraised’ [Personnel Management]
area /eəriə/ noun 1. a subject 쑗 a
appraiser /əprezə/ noun US a per- problem area or an area for concern 2.
son who estimates how much money a part of a country, a division for com-
something is worth mercial purposes 쑗 Her sales area is the
North-West. 쑗 He finds it difficult to
appro /prəυ/ noun same as ap- cover all his area in a week.
proval 왍 to buy something on appro
to buy something which you will only area code /eəriə kəυd/ noun a spe-
pay for if it is satisfactory cial telephone number which is given to
a particular area 쑗 The area code for
approach /əprəυtʃ/ noun getting in central London is 0207.
touch with someone with a proposal 쑗 area manager /
eəriə mndə/
The company made an approach to the noun a manager who is responsible for a
supermarket chain. 쑗 The board turned company’s work in a specific part of the
down all approaches on the subject of country
mergers. 쑗 We have had an approach
from a Japanese company to buy our arithmetic mean /
rθmetk
car division. 쑗 She has had an approach min/ noun same as average
from a firm of headhunters. 쐽 verb to armchair research /
ɑmtʃeə r-
get in touch with someone with a pro- s&tʃ/ noun looking for information
posal 쑗 He approached the bank with a that has already been compiled and pub-
request for a loan. 쑗 The company was lished in reference books such as direc-
approached by an American publisher tories 쑗 Most of our armchair research
with the suggestion of a merger. 쑗 We can be done in libraries. 쑗 If we cannot
have been approached several times but find all the data through armchair re-
have turned down all offers. 쑗 She was search, we shall have to do a market
approached by a headhunter with the survey of our own. (NOTE: also called
offer of a job. desk research)
appropriation /ə
prəυprieʃ(ə)n/ arrears /ərəz/ plural noun 1. money
noun the act of putting money aside for which is owed, but which has not been
a special purpose 쑗 appropriation of paid at the right time 쑗 a salary with ar-
funds to the reserve rears effective from January 1st 쑗 ar-
rears of interest 쑗 to allow the payments
appropriation account /ə
prəυpri- to fall into arrears 쑗 salary with arrears
eʃ(ə)n ə
kaυnt/ noun the part of a effective from January 1st 쑗 We are
profit and loss account which shows pressing the company to pay arrears of
how the profit has been dealt with such interest. 쑗 You must not allow the mort-
as how much has been given to the gage payments to fall into arrears. 2. 왍
shareholders as dividends, how much is in arrears owing money which should
being put into the reserves etc. have been paid earlier 쑗 The payments
approval /əpruv(ə)l/ noun 1. agree- are six months in arrears. 쑗 He is six
ment 쑗 to submit a budget for approval weeks in arrears with his rent.
2. 왍 on approval a sale where the buyer art director /ɑt da
rektə/ noun a
only pays for goods if they are satisfac- coordinator of creative work in advertis-
tory 쑗 to buy a photocopier on approval ing 쑗 The art director briefed the copy-
approve /əpruv/ verb 1. 왍 to ap- writer and illustrator on the main points
prove of something to think something of the campaign. 쑗 After three years as
is good 쑗 The chairman approves of the an agency photographer, he was made
new company letter heading. 쑗 The art director.
sales staff do not approve of interfer- article /ɑtk(ə)l/ noun 1. a product or
ence from the accounts division. 2. to thing for sale 쑗 to launch a new article
agree to something officially 쑗 to ap- on the market 쑗 a black market in lux-
article numbering system 13 atmospherics

ury articles 2. a section of a legal agree- assets over liabilities. 쑗 Her assets are
ment such as a contract, treaty, etc. 쑗 only £640 as against liabilities of
see article 8 of the contract £24,000.
article numbering system ‘…many companies are discovering that a
well-recognised brand name can be a priceless
/
ɑtk(ə)l n mbərŋ
sstəm/ noun a asset that lessens the risk of introducing a new
universal system of identifying articles product’ [Duns Business Month]
for sale, using a series of digits which
can be expressed as bar codes
asset stripping /set
strpŋ/
noun the practice of buying a company
artificial obsolescence at a lower price than its asset value, and
/
ɑtfʃ(ə)l ɒbsəles(ə)ns/ noun the then selling its assets
practice of deliberately making old
models seem out of date by bringing out asset value /
set vlju/ noun the
new ones with changes and additional value of a company calculated by add-
features which will attract the customer ing together all its assets
쑗 Artificial obsolescence is making our associate programme /əsəυsiət
products seem cheap and disposable. 쑗
prəυ"rm/ noun same as affiliate
Artificial obsolescence means that no programme
product can be fashionable for very assortment /əsɔtmənt/ noun a
long. combination of goods sold together 쑗
artwork /ɑtw&k/ noun an original The box contains an assortment of choc-
work to be used for an advertisement, olates with different centres.
e.g. drawings, layouts, photographs assumptive close /əs mptv
ASA abbr Advertising Standards
kləυz/ noun an act of ending the sales
Authority negotiation by assuming that the cus-
asking price /ɑskŋ pras/ noun a tomer has agreed to buy, and then ask-
price which the seller is hoping will be ing further details of payments,
paid for the item being sold 쑗 the asking delivery, etc.
price is £24,000 asterisk law /stərsk lɔ/ noun a
assay mark /se mɑk/ noun a law which prevents telemarketing agen-
mark put on gold or silver items to show cies from trying to sell to people who
that the metal is of the correct quality have indicated that they do not want to
be approached by telephone salesmen
assembly /əsembl/ noun 1. the pro- by putting an asterisk against their
cess of putting an item together from names in the phone book
various parts 쑗 There are no assembly
instructions to show you how to put the ATM abbr automated telling machine
computer together. 쑗 We can’t put the ‘Swiss banks are issuing new cards which will
allow cash withdrawals from ATMs in Belgium,
machine together because the instruc- Denmark, Spain, France, the Netherlands,
tions for assembly are in Japanese. 2. an Portugal and Germany’ [Banking Technology]
official meeting ‘…the major supermarket operator is planning a
assembly line /əsembli lan/ noun new type of bank that would earn 90% of its
a production system where a product revenue from fees on automated teller machine
transactions. With the bank setting up ATMs at
such as a car moves slowly through the 7,000 group outlets nationwide, it would have a
factory with new sections added to it as branch network at least 20 times larger than any
it goes along 쑗 She works on an assem- of the major banks’ [Nikkei Weekly]
bly line or She is an assembly line atmosphere /tməsfə/ noun 1. the
worker. general feeling in a shop or shopping
assessment /əsesmənt/ noun a cal- area 2. the effect that the medium itself
culation of value 쑗 an assessment of through which an advertisement is pre-
damages 쑗 a property assessment 쑗 as- sented has on the audience
sessment of damages 쑗 a tax assessment atmospherics /
tməsferks/ noun
asset /set/ noun something which 1. a way of encouraging customer inter-
belongs to a company or person, and est by using the senses such as smell and
which has a value 쑗 He has an excess of sound 2. creating an overall image of a
ATR 14 Audit Bureau of Circulations

company through the design of its pre- auction /ɔkʃən/ noun a method of
mises and products selling goods where people make bids,
and the item is sold to the person who
ATR noun a model showing stages in makes the highest offer 쑗 The equip-
the effects of advertising on the con- ment was sold by auction or at auction.
sumer, where the customer becomes 쑗 Their furniture will be sold in the auc-
aware of the product, buys it once to try tion rooms next week. 쑗 They an-
it and then buys it again when he finds it nounced a sale by auction of the
is satisfactory. Full form awareness, fire-damaged stock. 왍 to put an item
trial, repeat up for auction to offer an item for sale
atrium /etriəm/ noun a very large at an auction 쐽 verb to sell something at
open space in a building, usually with a an auction 쑗 The factory was closed and
glass roof, fountains and plants, which the machinery was auctioned off.
acts as a central meeting point, linking auctioneer /
ɔkʃənə/ noun the per-
shopping and office areas and son who conducts an auction
restaurants
auction house /ɔkʃən haυs/ noun
attention /ətenʃən/ noun careful a company which specialises in holding
thought or consideration auction sales, especially of items such as
attitude /ttjud/ noun the way in antiques or paintings
which a person behaves or thinks 왍 a auction mart /ɔkʃən mɑt/ noun
person’s attitude towards an adver- US auction rooms
tisement a person’s reaction to an audience /ɔdiəns/ noun 1. the num-
advertisement ber of people who watch a TV
attitude measurement /ttjud programme or listen to a radio

meəmənt/, attitude testing programme 2. the number of people
/ttjud
testŋ/ noun the act of as- who are exposed to an advertisement
certaining the way in which a person audience accumulation /
ɔdiəns
views something by assigning scores to əkjumjυleʃ(ə)n/ noun the building
various factors 쑗 Attitude measurement up of an audience by repeating adver-
has given us a good idea of how con- tisements over a period of time
sumers view our product. 쑗 Will attitude
testing lead to the redesigning of these audience composition /
ɔdiəns
heaters? kɒmpəzʃ(ə)n/ noun the way an audi-
ence is made up, i.e. the age range, sex,
attitude research /ttjud r- lifestyles, etc.

s&tʃ/, attitude survey /ttjud

s&ve/ noun 1. the act of carrying out audience research /
ɔdiəns r-
a survey to discover people’s attitudes s&tʃ/ noun research into the attitudes
to products, advertisements or the com- of an audience to an advertising
panies producing them 2. research that campaign
attempts to discover whether people’s audimeter /ɔdmitə/ noun an elec-
feelings about something, such as the tronic device attached to a TV set,
company they work for, are positive or which records details of a viewer’s
negative viewing habits
attitude scale /ttjud skel/ noun audiovisual /
ɔdiəυ vuəl/ noun
a device which measures or tests atti- media that can be seen and heard, e.g. a
tudes by analysing a subject’s responses TV commercial 쑗 The exhibition was
devoted to the latest in audiovisual
attrition /ətrʃ(ə)n/ noun a decrease equipment.
in the loyalty of consumers to a product,
due to factors such as boredom, desire audit /ɔdt/ noun the examination of
for a change 쑗 We must adapt our prod- the books and accounts of a company 쑗
ucts if we are to avoid attrition. 쑗 Attri- to carry out the annual audit
tion showed the company that brand Audit Bureau of Circulations
loyalty could not be taken for granted. /
ɔdt
bjυərəυ əv s&kjυleʃ(ə)nz/
augmented product 15 awareness

noun an organisation which verifies and sales 2. 왍 on average in general 쑗 On

publishes the circulation of magazines average, £15 worth of goods are stolen
and newspapers. Abbr ABCs every day. 쐽 adjective 1. the middle of a
augmented product /ɔ"
mentd set of figures 쑗 the average figures for
prɒd kt/ noun a product with added the last three months 쑗 the average in-
benefits such as warranties or installa- crease in prices 쑗 the average price 쑗
tion service etc. The average cost per unit is too high. 쑗
The average sales per representative
aural signature /
ɔrəl s"ntʃə/ are rising. 2. not very good 쑗 The com-
noun musical sounds used as a signature pany’s performance has been only aver-
to identify a product or service age. 쑗 He’s only an average worker.
automatic /
ɔtəmtk/ adjective ‘…a share with an average rating might yield 5
which works or takes place without any per cent and have a PER of about 10’
person making it happen 쑗 There is an [Investors Chronicle]
automatic increase in salaries on Janu- ‘…the average price per kilogram for this
season to the end of April has been 300 cents’
ary 1st. [Australian Financial Review]
automatic merchandizing average cost pricing /
v(ə)rd
/
ɔtəmtk m&tʃəndazŋ/, auto- kɒst
prasŋ/ noun pricing based on
matic selling /
ɔtəmtk selŋ/, au- the average cost of producing one unit
tomatic vending /
ɔtəmtk of a product
vendŋ/ noun selling through a ma-
average due date /
v(ə)rd dju
chine 쑗 Automatic selling is popular be-
det/ noun the average date when sev-
cause of the low labour costs involved.
eral different payments fall due
automatic telling machine average frequency /
v(ə)rd
/
ɔtəmtk telŋ mə
ʃin/ noun a ma- frikwənsi/ noun the average number
chine which gives out money when a of times a consumer will see a particular
special card is inserted and special in- advertisement 쑗 We will have to buy a
structions given lot of advertising time to attain a high
automatic vending machine average frequency. 쑗 What average fre-
/
ɔtəmtk vendŋ mə
ʃin/ noun a quency do we need to get this advertise-
machine which provides drinks, ciga- ment across to the target audience?
rettes etc., when a coin is put in average out /
v(ə)rd aυt/ verb
automation /
ɔtəmeʃ(ə)n/ noun to come to a figure as an average 쑗 It
the use of machines to do work with averages out at 10% per annum. 쑗 Sales
very little supervision by people increases have averaged out at 15%.
availability /ə
veləblət/ noun 1. average quarter-hour figure
being easily obtained 왍 offer subject to /
v(ə)rd
kwɔtər aυə f"ə/ adjec-
availability the offer is valid only if the tive the average number of people
goods are available 2. the time and num- watching a TV programme during a
ber of advertising slots which are avail- 15-minute period
able to be used awareness /əweənəs/ noun the state
average /v(ə)rd/ noun 1. a num- of being conscious of an advertise-
ber calculated by adding several figures ment’s message or of a brand’s exis-
together and dividing by the number of tence and qualities 쑗 The survey after
figures added 쑗 the average for the last the campaign showed advertising
three months or the last three months’ awareness had remained low. 쏡 ATR,
average 쑗 sales average or average of maximal awareness
B2B 16 background

B2B /
bi tə bi/ adjective referring to ing the period from 1945 to 1965, when
advertising or marketing that is aimed at the population of the UK and the USA
other businesses rather than at consum- increased rapidly
ers (NOTE: The word is most commonly back /bk/ noun the opposite side to
used of business-to-business dealings the front 쑗 Write your address on the
conducted over the Internet.) back of the envelope. 쑗 The conditions
B2B auction /
bi tə bi ɔkʃən/ of sale are printed on the back of the in-
noun a web marketplace where supplier voice. 쑗 Please endorse the cheque on
companies bid against one another to of- the back. 쐽 adjective referring to the
fer the lowest price for a particular prod- past 쑗 a back payment 쐽 verb 왍 to back
uct or service, while the buyer company someone to help someone financially 쑗
waits until the sellers have reduced the The bank is backing us to the tune of
price to one that it can afford (NOTE: £10,000. 쑗 She is looking for someone
Businesses have to register to take to back her project.
part in B2B auctions by providing their ‘…the businesses we back range from start-up
credit-card information and shipping ventures to established companies in need of
preferences, and also have to agree to further capital for expansion’ [Times]
the site’s code of conduct.) back cover /bk k və/ noun the
B2B commerce /
bi tə bi kɒm&s/ back of a magazine cover, which can be
noun business done by companies with used for advertising
other companies, rather than with indi- backdate /bkdet/ verb to put an
vidual consumers earlier date on a document such as a
B2B exchange /
bi tə bi ks- cheque or an invoice 쑗 Backdate your
tʃend/ noun same as exchange invoice to April 1st. 쑗 The pay increase
is backdated to January 1st.
B2B web exchange /
bi tə bi
web ks
tʃend/ noun same as backdoor selling /
bkdɔ selŋ/
exchange noun the practice of bypassing an or-
ganisation’s bureaucracy and selling di-
B2B website /
bi tə bi websat/ rect to the chief decision-maker in it 쑗 If
noun a website that is designed to help we did not resort to backdoor selling the
businesses trade with each other on the right department might never hear of us.
Internet 쑗 The chairman was asked out for a
B2C /
bi tə si/ adjective referring to meal by the sales director of the other
advertising or marketing that is aimed at company to try a little backdoor selling.
consumers rather than at other busi- backer /bkə/ noun 1. a person or
nesses (NOTE: The word is most com- company that backs someone 쑗 He has
monly used of business-to-consumer an Australian backer. 쑗 One of the com-
dealings conducted over the Internet.) pany’s backers has withdrawn. 2. 왍 the
B2C website /
bi tə si websat/ backer of a bill the person who backs a
noun an online shop that sells products bill 3. a piece of publicity material
to consumers via its website placed at the back of a display or stand
baby boomer /bebi
buməz/ noun background /bk"raυnd/ noun
a market composed of people born dur- past work or experience 쑗 My back-
background music 17 balance of payments

ground is in the steel industry. 쑗 The backup /bk p/ adjective supporting

company is looking for someone with a or helping 쑗 We offer a free backup ser-
background of success in the electronics vice to customers. 쑗 After a series of
industry. 쑗 She has a publishing back- sales tours by representatives, the sales
ground. 쑗 What is his background? or director sends backup letters to all the
Do you know anything about his contacts.
background? backup ad /bk p d/ noun an ad-
background music /bk"raυnd vertisement designed to accompany edi-

mjuzk/ noun music played over the torial material in a publication
tannoy in a shop, supermarket, atrium backup copy /bk p
kɒpi/ noun a
etc., as a means of calming potential copy of a computer disk to be kept in
customers case the original disk is damaged
backing /bkŋ/ noun financial sup- backward integration /
bkwəd
port 쑗 He has the backing of an Austra- nt"reʃ(ə)n/ noun a process of ex-
lian bank. 쑗 The company will succeed pansion in which businesses which deal
only if it has sufficient backing. 쑗 Who with different stages in the production
is providing the backing for the project? or sale of the same product join to-
쑗 Where does the backing for the pro- gether, i.e. a business becomes its own
ject come from? supplier 쑗 Buying up rubber plantations
‘…the company has received the backing of a is part of the tyre company’s backward
number of oil companies who are willing to pay integration policy. 쑗 Backward integra-
for the results of the survey’ [Lloyd’s List] tion will ensure cheap supplies but for-
ward integration would bring us nearer
backload /bkləυd/ verb to make to the market. Compare forward inte-
sure that most of the costs of a promo-
gration (NOTE: also called vertical
tional campaign come in the later stages,
integration)
so that they can be regulated according
to the response received. The campaign bad debt /bd det/ noun a debt
can then be cut back if the response rate which will not be paid, usually because
is inadequate – this is opposed to the debtor has gone out of business, and
frontloading, where most of the costs which has to be written off in the ac-
are incurred in the early stages. Com- counts 쑗 The company has written off
pare frontload £30,000 in bad debts.
backlog /bklɒ"/ noun work which baggage cart /b"d kɑt/ noun
has piled up waiting to be done, e.g. or- US a metal holder on wheels, on which
ders or letters 쑗 The warehouse is trying baggage can be placed to be moved eas-
to cope with a backlog of orders. 쑗 ily in an airport, train station, etc.
We’re finding it hard to cope with the bait /bet/ noun an article which is sold
backlog of paperwork. at a loss to attract customers 쑗 This is an
attractive enough product to use as bait.
back of book /
bk əv bυk/ noun 쑗 The shop’s best bargains were dis-
the last pages of a magazine containing played in the window as bait.
advertisements
bait ad /bet d/ noun an advertise-
back-of-the-house services ment for low-priced goods, used to at-
/
bk əv ðə haυs s&vsz/ plural tract customers into a shop
noun services which are in the back part
of a shop bait and switch /
bet ənd swtʃ/
noun a sales technique where the sales-
back orders /bk
ɔdəz/ plural person offers what looks like an attrac-
noun orders received and not yet ful- tive bargain and then says at the last
filled, usually because the item is out of minute that it is not available and re-
stock 쑗 It took the factory six weeks to places it with something inferior
clear all the accumulated back orders. balance of payments /
bləns əv
back payment /bk
pemənt/ pemənts/ noun a comparison between
noun paying money which is owed total receipts and payments arising from
balance sheet 18 bank draft

a country’s international trade in goods, ferent item bound along with the main
services and financial transactions one 쑗 These banded packs have been
balance sheet /bləns ʃit/ noun a specially designed for our sales promo-
statement of the financial position of a tion drive.
company at a particular time such as the bandwidth /bndwdθ/ noun a mea-
end of the financial year or the end of a surement of the capacity of a fibre-optic
quarter showing the company’s assets cable to carry information to and from
and liabilities 쑗 Our accountant has the Internet (NOTE: The higher the
prepared the balance sheet for the first bandwidth, the faster information
half-year. 쑗 The company balance sheet passes through the cable.)
for the last financial year shows a worse
position than for the previous year.
bangtail /bŋtel/ noun US a type of
folded mailer, with a pocket for an in-
COMMENT: The balance sheet shows the
state of a company’s finances at a certain
formation card or reply coupon and a
date; the profit and loss account shows
flap that tucks in
the movements which have taken place bankable paper /
bŋkəb(ə)l
since the end of the previous accounting pepə/ noun a document which a bank
period. A balance sheet must balance, will accept as security for a loan
with the basic equation that assets (i.e.
what the company owns, including money
bank account /bŋk ə
kaυnt/ noun
owed to the company) must equal liabili- an account which a customer has with a
ties (i.e. what the company owes to its bank, where the customer can deposit
creditors) plus capital (i.e. what it owes to and withdraw money 쑗 to open a bank
its shareholders). A balance sheet can be account 쑗 to close a bank account 쑗
drawn up either in the horizontal form, How much money do you have in your
with (in the UK) liabilities and capital on bank account? 쑗 If you let the balance
the left-hand side of the page (in the USA, in your bank account fall below £100,
it is the reverse) or in the vertical form, you have to pay bank charges.
with assets at the top of the page, fol-
lowed by liabilities, and capital at the bot-
bank base rate /bŋk bes ret/
tom. Most are usually drawn up in the noun a basic rate of interest on which
vertical format, as opposed to the more the actual rate a bank charges on loans
old-fashioned horizontal style. to its customers is calculated
balloon /bəlun/ noun a loan where bank bill /bŋk bl/ noun 1. GB
the last repayment is larger than the same as banker’s bill 2. US a piece of
others printed paper money
balloon payment /bəlun bank card /bŋk kɑd/ noun a credit

pemənt/ noun the last payment, usu- card or debit card issued to a customer
ally much larger than the others, that is by a bank for use instead of cash when
made when repaying a balloon loan buying goods or services (NOTE: There
band /bnd/ noun a strip of paper or are internationally recognised rules
plastic or a rubber ring put round arti- that govern the authorisation of the use
cles to attach them together of bank cards and the clearing and set-
tlement of transactions in which they
banded /bndd/ adjective attached are used.)
with a band
banded offer /
bndd ɒfə/ noun a bank charges /bŋk
tʃɑdz/ plu-
type of sales promotion involving the ral noun charges which a bank makes
offer of an additional item along with for carrying out work for a customer
the main one 쑗 The banded offer con- (NOTE: American English is service
sisted of a full-sized bottle of shampoo charge)
along with a small bottle of hair bank credit /bŋk
kredt/ noun
conditioner. loans or overdrafts from a bank to a
banded pack /
bndd pk/ noun a customer
pack which includes two items attached bank draft /bŋk drɑft/ noun an
to form a pack, or with an additional dif- order by one bank telling another bank,
banker 19 barrier

usually in another country, to pay bar code /bɑ kəυd/ noun a system
money to someone of lines printed on a product which,
banker /bŋkə/ noun a person who is when read by a computer, give a refer-
in an important position in a bank ence number or price
banker’s bill /bŋkəz bl/, bank bar coding /bɑ
kəυdŋ/ noun the
bill /bŋk bl/ noun an order by one process of attaching an identifying label,
bank telling another bank, usually in an- written in machine-readable code and
other country, to pay money to someone able to be read by a scanner, to a product
or container (NOTE: Bar codes are use-
bank giro /bŋk
darəυ/ noun GB ful for stock control and order picking
a method used by clearing banks to and can be used to trace a product
transfer money rapidly from one ac- through every stage of a transaction
count to another from packaging to customer delivery.)
banking account /bŋkŋ ə- bargain /bɑ"n/ noun 1. an agree-

kaυnt/ noun US an account which a ment on the price of something 쑗 to
customer has with a bank strike a bargain or to make a bargain 왍
bank manager /bŋk
mndə/ to drive a hard bargain to be a difficult
noun the person in charge of a branch of person to negotiate with 왍 it is a bad
a bank 쑗 He asked his bank manager for bargain it is not worth the price 2.
a loan. something which is cheaper than usual
bank transfer /bŋk
trnsf&/ 쑗 That car is a (real) bargain at £500.
noun moving money from a bank ac- 쐽 verb to discuss a price for something
count to another account 쑗 You will have to bargain with the
dealer if you want a discount. 쑗 They
banner /bnə/ noun 1. material spent two hours bargaining about or
stretched between two walls or build- over the price. (NOTE: you bargain with
ings, carrying an advertising message 쑗 someone over or about or for
There were banners across the street something)
advertising the charity run. 2. an online
interactive advertisement that appears bargain basement /
bɑ"n
on a webpage, usually at the top or bot- besmənt/ noun a basement floor in a
tom, and contains a link to the website shop where goods are sold cheaply 왍
of the business whose products or ser- I’m selling this at a bargain basement
vices are being advertised (NOTE: Ban- price I’m selling this very cheaply
ner ads often use graphics images and bargain hunter /bɑ"n
h ntə/
sound as well as text.) noun a person who looks for cheap
banner advertising /bnə deals

dvətazŋ/ noun a website advertis- bargaining /bɑ"nŋ/ noun the act
ing which runs across the top of a of discussing between two persons or
webpage, similar to newspaper groups, to achieve a settlement, usually
headlines wage increases for workers
banner exchange /bnə ks- bargaining position /bɑ"nŋ pə-

tʃend/ noun an agreement between
zʃ(ə)n/ noun the statement of position
two or more businesses, in which each by one group during negotiations
allows the others’ advertising banners to bargaining power /bɑ"nŋ
be displayed on its website
paυə/ noun the strength of one person
banner headline /
bnə hedlan/ or group when discussing prices or
noun a headline set in very large black wage settlements
type, running across a page barrier /briə/ noun anything which
bar chart /bɑ tʃɑt/ noun a chart makes it difficult for someone to do
where values or quantities are shown as something, especially sending goods
columns of different heights set on a from one place to another 왍 to impose
base line, the different lengths express- trade barriers on certain goods to re-
ing the quantity of the item or unit strict the import of some goods by
barrier to entry 20 basic industry

charging high duty 쑗 They considered exchange for trucks, food, planes and
imposing trade barriers on some food chemicals’ [Wall Street Journal]
products. 왍 to lift trade barriers from bartering /bɑtərŋ/ noun the act of
imports to remove restrictions on im- exchanging goods for other goods and
ports 쑗 The government has lifted trade not for money
barriers on foreign cars. 왍 barrier to base /bes/ noun 1. the lowest or first
entry into a market something which position 쑗 Turnover increased by 200%,
makes it difficult for a company to enter but started from a low base. 2. a place
a new market, e.g. start-up costs where a company has its main office or
‘…a senior European Community official has factory, or a place where a businessper-
denounced Japanese trade barriers, saying they son’s office is located 쑗 The company
cost European producers $3 billion a year’
[Times] has its base in London and branches in
all the European countries. 쑗 He has an
‘…to create a single market out of the EC
member states, physical, technical and tax office in Madrid which he uses as a base
barriers to free movement of trade between while travelling in Southern Europe. 쐽
member states had to be removed. Imposing verb to set up a company or a person in
VAT on importation of goods from other a place 쑗 a London-based sales execu-
member states was seen as one such tax barrier’
[Accountancy]
tive 쑗 The European manager is based
in our London office. 쑗 Our overseas
barrier to entry /
briə tυ entri/ branch is based in the Bahamas.
noun a factor that makes it impossible ‘…the base lending rate, or prime rate, is the
or unprofitable for a company to try to rate at which banks lend to their top corporate
start selling its products in a particular borrowers’ [Wall Street Journal]
market (NOTE: Barriers to entry may be ‘…other investments include a large stake in the
created, for example, when companies Chicago-based insurance company’
[Lloyd’s List]
already in a market have patents that
prevent their goods from being copied, base line /bes lan/ noun the part of
when the cost of the advertising promotional material that contains basic
needed to gain a market share is too information about the organisation such
high, or when an existing product com- as its name and address
mands very strong brand loyalty.) basement /besmənt/ noun a section
barrier to exit /
briə tυ e"zt/ of a shop which is underground
noun a factor that makes it impossible base year /bes jə/ noun the first
or unprofitable for a company to leave a year of an index, against which changes
market where it is currently doing busi- occurring in later years are measured. 쏡
ness (NOTE: Barriers to exit may be cre- database
ated, for example, when a company basic /besk/ adjective 1. normal 2.
has invested in specialist equipment most important 3. simple, or from which
that is only suited to manufacturing everything starts 쑗 He has a basic
one product, when the costs of retrain- knowledge of the market. 쑗 To work at
ing its workforce would be very high, or the cash desk, you need a basic qualifi-
when withdrawing one product would cation in maths.
have a bad effect on the sales of other
products in the range.) basic commodities /
besk kə-
mɒdtiz/ plural noun ordinary farm
barter /bɑtə/ noun 1. a system in produce, produced in large quantities,
which goods are exchanged for other e.g. corn, rice, sugar, etc.
goods and not sold for money 2. a sys-
tem in which advertising space or time basic discount /
besk dskaυnt/
is exchanged for goods from the adver- noun a normal discount without extra
tiser 쐽 verb to exchange goods for other percentages 쑗 Our basic discount is
goods and not for money 쑗 They agreed 20%, but we offer 5% extra for rapid
a deal to barter tractors for barrels of settlement.
wine. basic industry /
besk ndəstri/
‘…under the barter agreements, Nigeria will noun the most important industry of a
export 175,000 barrels a day of crude oil in country, e.g. coal, steel or agriculture
basic necessities 21 benchmark

basic necessities /
besk Bayesian decision theory

nəsestiz/ plural noun the very least /
beziən ds(ə)n
θəri/ noun a
that people need to live, e.g. food and method for helping decision-making, of-
clothing 쑗 Being unemployed makes it ten applied to new product develop-
difficult to afford even the basic ment. The decision-maker is aware of
necessities. alternatives, can work out the probable
basic price /
besk pras/ , basic advantages or disadvantages of the al-
rate /
besk ret/ noun the price of a ternatives, and makes up his or her mind
product or service that does not include according to the value of the best
any extras 쑗 This is a rather high basic alternative.
price. 쑗 Please make clear whether BDI abbr brand development index
£1,000 is the basic rate or whether it is behavioural segmentation /b-
inclusive of spare parts.
hevjərəl se"mənteʃ(ə)n/,
basic product /
besk prɒd kt/ behaviouristic segmentation noun
noun the main product made from a raw the segmentation or division of the mar-
material ket according to customers’ buying hab-
its and usage of a product 쑗
basics /besks/ plural noun simple Behavioural segmentation will mean
and important facts 쑗 She has studied there are several distinct target audi-
the basics of foreign exchange dealing. ences for our product.
왍 to get back to basics to consider the
main facts again behind schedule /b
hand
ʃedul/ noun late 쑗 The agency is way
basis /bess/ noun 1. a point or num- behind schedule with the promotional
ber from which calculations are made 쑗 material.
We forecast the turnover on the basis of
a 6% price increase. 2. the general believer /blivə/ noun in the VALS
terms of agreement or general principles lifestyle classification, someone with
on which something is decided 왍 on a conventional values and strong princi-
short-term or long-term basis for a ples who buy traditional, well-known
short or long period 쑗 He has been ap- products
pointed on a short-term basis. 쑗 We bells and whistles /
belz ənd
have three people working on a free- ws(ə)lz/ plural noun every possible
lance basis. feature that has been included in an ad-
basket of currencies /
bɑskt əv vertising campaign
k rənsiz/ noun a group of other cur- below-the-line advertising /b
ləυ
rencies used to establish the value of a ðə lan dvətazŋ/ noun advertising
particular unit of currency which is not paid for and for which no
batch /btʃ/ noun a group of items commission is paid to the advertising
which are made at one time 쑗 This agency, e.g. work by staff who are
batch of shoes has the serial number manning an exhibition. Compare
above-the-line advertising
25–02. 쐽 verb to put items together in
groups 쑗 to batch invoices or cheques below-the-line expenditure /b-

ləυ ðə lan kspendtʃə/ noun 1.
batch number /btʃ
n mbə/ noun payments which do not arise from a
a number attached to a batch 쑗 When company’s normal activities, e.g. redun-
making a complaint always quote the dancy payments 2. extraordinary items
batch number on the packet. which are shown in the profit and loss
batch production /btʃ prə- account below net profit after taxation,

d kʃən/ noun production in batches as opposed to exceptional items which
battle /bt(ə)l/ noun a fight 왍 battle are included in the figure for profit be-
of the brands competition in the market fore taxation
between existing product brands 쑗 This benchmark /bentʃmɑk/ noun 1. a
battle of the brands will lead to dra- standard used to measure performance
matic price-cutting. (NOTE: A benchmark was originally a
benchmarking 22 bias

set of computer programs that was bespoke /bspəυk/ adjective made

used to measure how well a particular to order or made to fit the requirements
computer performed in comparison of the customer
with similar models.) 2. a point in an in- bespoke tailoring /b
spəυk
dex which is important, and can be used telərŋ/ noun the making of clothing
to compare with other figures for customers, to fit their individual
‘…the US bank announced a cut in its prime, the measurements or requirements
benchmark corporate lending rate, from 10½%
to 10%’ [Financial Times] best-before date /
best b fɔ det/
‘…the benchmark 11¾% Treasury due noun the date stamped on the label of a
2003/2007 was quoted at 107 11/32, down 13/32 food product, which is the last date on
from Monday’ [Wall Street Journal] which the product is guaranteed to be of
benchmarking /bentʃmɑkŋ/ good quality. 쏡 sell-by date, use-by
noun the testing of an audience’s re- date
sponse using a benchmark best-in-class /
best n klɑs/ adjec-
benchmark measure /bentʃmɑk tive more effective and efficient, espe-

meə/ noun the measure of a target au- cially in acquiring and processing
dience’s response at the beginning of an materials and in delivering products or
advertising campaign which is then services to customers, than any other or-
compared to responses at the end of the ganisation in the same market or indus-
campaign to test its efficiency trial sector
benefit /benft/ noun the way in best practice /
best prkts/ noun
which a product or service will improve the most effective and efficient way to
the quality of life of the purchaser, as do something or to achieve a particular
opposed to ‘features’ which highlight aim (NOTE: In business, best practice is
the particular important aspects of the often determined by benchmarking,
product or service itself that is by comparing the method one
‘…what benefits does the executive derive
organisation uses to carry out a task
from his directorship? Compensation has with the methods used by other similar
increased sharply in recent years and fringe organisations and determining which
benefits for directors have proliferated’ method is most efficient and effective.)
[Duns Business Month]
best-selling /
best selŋ/ adjective
‘…salary is negotiable to £30,000, plus car and
a benefits package appropriate to this senior which sells very well 쑗 These computer
post’ [Financial Times] disks are our best-selling line.
‘California is the latest state to enact a program best value /
best vlju/ noun a
forcing welfare recipients to work for their system adopted by the UK government
benefits’ [Fortune] to ensure that local authorities provide
‘…salary range is $54,957 – $81,189, with a services to the public in the most effi-
competitive benefits package’ cient and cost-effective way possible
[Washington Post]
(NOTE: Best value, which came into
benefit segmentation /
benft force with the Local Government Act
se"mənteʃ(ə)n/ noun the division of 1999, replaced the previous system of
a market into segments according to the compulsory competitive tendering
types of benefit obtained by the cus- (CCT). It requires local authorities to
tomer from a product such as ease of review all their services over a
availability, light weight five-year period, to set standards of
berth /b&θ/ noun the place in a har- performance, and to consult with local
bour where a ship can tie up 쐽 verb to taxpayers and service users.)
tie up at a berth 쑗 The ship will berth at Better Business Bureau /
betə
Rotterdam on Wednesday. bzns
bjυərəυ/ US an organisation of
berth cargo /b&θ
kɑ"əυ/ noun local business executives that promotes
cargo carried at especially low rates 쑗 If better business practices in their town
we do not send the goods as berth cargo bias /baəs/ noun favouring one group
we will have to charge the buyer more. or person rather than another 쑗 A postal
bid 23 billboard

survey will do away with bias. 쑗 The big-ticket /
b" tkt/ adjective cost-
trainee interviewers were taught how to ing a lot of money
control bias and its effects. big ticket item /
b" tkt
atəm/
bid /bd/ noun 1. an offer to buy some- noun a large expensive item, e.g. a car,
thing at a specific price 왍 to make a bid washing machine, etc.
for something to offer to buy some- bilateral /balt(ə)rəl/ adjective be-
thing 쑗 We made a bid for the house. 쑗 tween two parties or countries 쑗 The
The company made a bid for its rival. 왍 minister signed a bilateral trade
to make a cash bid to offer to pay cash agreement.
for something 왍 to put in a bid for ‘…trade between Japan and China will probably
something or to enter a bid for some- exceed $30 billion this year to mark a record
thing to offer to buy something, usually high. Ministry of Finance trade statistics show
that bilateral trade in the first half of the year
in writing 2. an offer to sell something totalled $16.60 billion, up 29.7% from a year
or do a piece of work at a specific price earlier’ [Nikkei Weekly]
쑗 She made the lowest bid for the job. 쐽
bilateralism /balt(ə)rəlz(ə)m/
verb 왍 to bid for something (at an auc- noun a system whereby a country bal-
tion) to offer to buy something 왍 he bid ances its trade with another 쑗 With luck,
£1,000 for the jewels he offered to pay bilateralism will put an end to the trade
£1,000 for the jewels war.
bidder /bdə/ noun a person who bill /bl/ noun 1. a written list of
makes a bid, usually at an auction 쑗 charges to be paid 쑗 The sales assistant
Several bidders made offers for the wrote out the bill. 쑗 Does the bill in-
house. 왍 the property was sold to the clude VAT? 쑗 The bill is made out to
highest bidder to the person who had Smith Ltd. 쑗 The builder sent in his bill.
made the highest bid or who offered the 쑗 She left the country without paying
most money 왍 the tender will go to the her bills. 2. a list of charges in a restau-
lowest bidder to the person who offers rant 쑗 Can I have the bill please? 쑗 The
the best terms or the lowest price for bill comes to £20 including service. 쑗
services Does the bill include service? 쑗 The
bidding /bdŋ/ noun the act of mak- waiter has added 10% to the bill for ser-
ing offers to buy, usually at an auction 왍 vice. 3. a written paper promising to pay
the bidding started at £1,000 the first money 왍 bills payable (B/P) bills, espe-
and lowest bid was £1,000 왍 the bid- cially bills of exchange, which a com-
ding stopped at £250,000 the last bid, pany will have to pay to its creditors 왍
i.e. the successful bid, was for £250,000 bills receivable (B/R) bills, especially
왍 the auctioneer started the bidding bills of exchange, which are due to be
at £100 he suggested that the first bid paid by a company’s debtors 4. US a
should be £100 piece of paper money 쑗 a $5 bill (NOTE:
big box store /
b" bɒks stɔ/ noun British English is note or banknote) 5.
a large retail superstore that sells a very a draft of a new law which will be dis-
wide range of merchandise from grocer- cussed in Parliament 6. a small poster 왍
ies to refrigerators or televisions ‘stick no bills’ a notice prohibiting un-
authorised sticking of posters 쐽 verb to
big business /b" bzns/ noun present a bill to someone so that it can
very large commercial firms be paid 쑗 The plumbers billed us for the
big idea /b" adə/ noun the main repairs.
new idea behind an advertising cam- billboard /blbɔd/ noun 1. a poster
paign, the aim of which is to attract po- site of double crown size (30 x 20
tential customers inches) 2. US a large outdoor poster site
big picture /b" pktʃə/ noun a (measuring 12 x 25 feet) 쑗 The railway
broad view of a subject that takes into track was lined with billboards specially
account all the factors that are relevant set up for election propaganda. 쑗 A
to it and considers the future conse- shortage of billboards has led to an in-
quences of action taken now (informal ) . crease in press advertising. 3. a short
billing 24 blanket insurance

announcement which identifies an ad- black /blk/ adjective 왍 in the black

vertiser at the beginning, end, or in the in credit 쑗 The company has moved into
breaks of a broadcast the black. 쑗 My bank account is still in
billing /blŋ/ noun US the writing of the black. 쐽 verb to forbid trading in
invoices or bills specific goods or with specific suppliers
쑗 Three firms were blacked by the gov-
bill of entry /
bl əv entri/ noun the ernment. 쑗 The union has blacked a
written details of goods that have to go trucking firm.
through customs
black economy /blk kɒnəmi/
bill of exchange /
bl əv ks- noun goods and services which are paid
tʃend/ noun a document signed by for in cash, and therefore not declared
the person authorising it, which tells an- for tax
other to pay money unconditionally to a
named person on a certain date (usually black list /blk lst/ noun a list of
used in payments in foreign currency) 왍 goods, people or companies which have
to accept a bill to sign a bill of ex- been blacked
change to show that you promise to pay blacklist /blklst/ verb to put
it 왍 to discount a bill to buy or sell a goods, people or a company on a black
bill of exchange at a lower price than list 쑗 Their firm was blacklisted by the
that written on it in order to cash it later government.
왍 to retire a bill to pay a bill of ex- black market /blk mɑkt/ noun
change when it is due the buying and selling of goods or cur-
bill of lading /
bl əv ledŋ/ noun a rency in a way which is not allowed by
list of goods being shipped, which the law 쑗 There is a flourishing black mar-
transporter gives to the person sending ket in spare parts for cars. 왍 to pay
the goods to show that the goods have black market prices to pay high prices
been loaded to get items which are not easily
bill of sale /
bl əv sel/ noun a docu- available
ment which the seller gives to the buyer black-market economy /blk
to show that the sale has taken place mɑkt 
kɒnəmi/ noun an economy,
bill poster /bl
pəυstə/ noun a per- or part of an economy, that functions by
son who sticks up small posters. 쏡 fly illegally trading goods that are normally
poster subject to official controls
bin /bn/ noun 1. a large container 2. a blank cheque /blŋk tʃek/ noun a
separate section of shelves in a cheque with the amount of money and
warehouse the payee left blank, but signed by the
drawer
Bingo card /bŋ"əυ kɑd/ noun a
printed card bound into a magazine, blanket agreement /
blŋkt
with a squared grid of numbers and let- ə"rimənt/ noun an agreement which
ters which a reader can mark. The num- covers many different items
bers refer to products advertised in the blanket branding /
blŋkt
magazine, and the card is returned post brndŋ/ noun giving a whole group
free to the publisher, who passes the or line of products the same brand name
card to the advertiser for further 쑗 Blanket branding will make the brand
response. a household name.
bipolar scale /
bapəυlə skel/ blanket coverage /
blŋkt
noun a scale used in questionnaires k v(ə)rd/ noun advertising to the
which contains two extreme points be- general public with no particular target
tween which an interviewee can choose audience in mind 쑗 We will go for blan-
an answer ket coverage first and then see what
birth rate /b&θ ret/ noun the num- kind of people buy the product.
ber of children born per 1,000 of the blanket insurance (cover)
population /
blŋkt nʃυərəns
k və/ noun
blanket refusal 25 booking

insurance which covers various items sponse is to a situation 쑗 Trainee sales-

such as a house and its contents men learn how to interpret a customer’s
blanket refusal /
blŋkt r- body language. 쑗 The interviewer of
fjuz(ə)l/ noun a refusal to accept prospective marketing managers ob-
many different items served the body language of the candi-
dates very carefully. 쑗 The candidate
bleed /blid/ noun an illustration or
claimed to be very confident about tak-
text which runs right to the edge of the
ing the job, but her body language was
printed page 쐽 verb to allow advertising
saying the opposite.
space to run to the edge of a printed
page bogof /bɒ"ɒf/ noun the practice of
blind offer /
bland ɒfə/ noun a pre- giving free gifts to customers, e.g. one
mium offer which is hidden away in an free item for each one bought. Full form
advertisement so as to find out how buy one get one free
many readers read the advertisement boilerplate /bɔləplet/ noun a basic
blindside /blandsad/ verb to attack standard version of a contract that can
a competitor unexpectedly and in a way be used again and again
which it is difficult to respond to bonded warehouse /
bɒndd
blind testing /bland testŋ/ noun weəhaυs/ noun a warehouse where
the practice of testing a product on con- goods are stored until excise duty has
sumers without telling them what brand been paid
it is bonus /bəυnəs/ noun an extra pay-
blister pack /blstə pk/, bubble ment in addition to a normal payment
pack /b b(ə)l pk/ noun a type of
packing where the item for sale is cov- bonus offer /bəυnəs
ɒfə/ noun a
ered with a stiff plastic cover sealed to a special offer, especially one to launch a
card backing new product, which includes a bonus or
free gift
blitz /blts/ noun a marketing cam-
paign which starts at full pressure, as bonus pack /bəυnəs pk/ noun a
opposed to a gradual build-up pack with extra contents or extra items
blow-in /bləυ n/ noun US a post- for which no extra charge is made 쑗 We
card-size advertising card inserted in a are offering bonus packs in order to at-
magazine tract new customers to the product.
blue-hair /blu heə/ adjective US re- bonus size /bəυnəs saz/ noun an
ferring to elderly women extra large size of pack sold at the usual
price as a form of sales promotion 쑗 Bo-
blue-sky thinking /blu
ska nus size packs are 20% larger, but are
θŋkŋ/ noun extremely idealistic and sold at the normal price.
often unconventional ideas
blur /bl&/ noun a period in which a bonus spot /bəυnəs spɒt/ noun a
great many important changes take free television or radio spot offered to
place in an organisation very quickly an advertiser as part of an advertising
package
blurb /bl&b/ noun a brief description
of a book, printed in a publisher’s cata- book /bυk/ noun a set of sheets of pa-
logue or on the cover of the book itself per attached together 왍 a company’s
books the financial records of a
body copy /bɒdi
kɒpi/ noun the company
main part of the text of an advertisement
쑗 The body copy is OK, though the com- book club /bυk kl b/ noun a group
pany’s address needn’t be included. 쑗 of people who pay a small subscription
The body copy on the poster is too long and buy books regularly by mail order
for passers-by to read it all. booking /bυkŋ/ noun the act of re-
body language /bɒd
lŋ"wd/ serving a room or a seat etc. 쑗 Hotel
noun gestures, expressions, and move- bookings have fallen since the end of the
ments which show what somebody’s re- tourist season.
booking clerk 26 boutique

booking clerk /bυkŋ klɑk/ noun a market share and high growth rate are
person who sells tickets in a booking called stars, businesses with a low
office market share and low growth rate are
booking office /bυkŋ
ɒfs/ noun called dogs, businesses with a high
an office where you can book seats at a market share and a low growth rate
theatre or tickets for the railway are called cash cows and businesses
with a low market share and a high
bookmark /bυkmɑk/ verb to make a growth rate are called question marks.)
special mental note of somebody or
something so that you remember them Boston matrix /
bɒstən metrks/
in future 쐽 noun a software tool in a noun a type of product portfolio analy-
web browser that enables users to select sis, in which products are identified as
and store webpages that they want to stars, question marks, cash cows or dogs
look at often and to access them quickly (NOTE: the full name is the Boston
and conveniently Consulting Group Share/Growth
Matrix)
book sales /bυk selz/ plural noun
sales as recorded in the sales book bottle hanger /bɒt(ə)l hŋə/ noun
an advertisement in the form of a card
book token /bυk təυkən/ noun a
which hangs round the neck of a bottle
voucher bought in a shop which is given
as a present and which must be ex- bottleneck /bɒt(ə)l
nek/ noun a situ-
changed for books ation that occurs when one section of an
operation cannot cope with the amount
book value /bυk vlju/ noun the
of work it has to do, which slows down
value of an asset as recorded in the com-
the later stages of the operation and
pany’s balance sheet
business activity in general 쑗 a bottle-
boom /bum/ noun the time when neck in the supply system 쑗 There are
sales, production or business activity are serious bottlenecks in the production
increasing 쑗 a period of economic boom line.
쑗 the boom of the 1970s 왍 the boom
years years when there is an economic
bottom /bɒtəm/ noun the lowest part
or point 왍 the bottom has fallen out of
boom 쐽 verb to expand or to become
the market sales have fallen below
prosperous 쑗 business is booming 쑗
what previously seemed to be the lowest
sales are booming
‘…starting in 1981, a full-blown real estate
point 왍 rock-bottom price the lowest
boom took off in Texas’ [Business] price of all 쐽 verb to reach the lowest
point
boom industry /bum
ndəstri/
noun an industry which is expanding bottom line /
bɒtəm lan/ noun the
rapidly last line on a balance sheet indicating
profit or loss
booming /bumŋ/ adjective which
is expanding or becoming prosperous 쑗 bottom price /bɒtəm pras/ noun
a booming industry or company 쑗 Tech- the lowest price
nology is a booming sector of the bounce back /
baυns bk/ verb (of
economy. emails) to be returned to the sender be-
boom share /bum ʃeə/ noun a cause the address is incorrect or the user
share in a company which is expanding is not known at the mail server
Boston Box /
bɒstən bɒks/ noun a bounce-back coupon /
baυns
system used to indicate a company’s po- bk
kupɒn/ noun a coupon offer
tential by analysing the relationship be- made to existing customers in order to
tween its market share and its growth persuade them to continue purchasing
rate (NOTE: The Boston Box was de- the brand
vised by the Boston Consulting Group boutique /butik/ noun 1. a small
in the 1970s to help companies decide specialised shop, especially for
which businesses they should invest in up-to-date clothes 쑗 a jeans boutique 쑗
and which they should withdraw from. a ski boutique 2. a section of a depart-
In this system businesses with a high ment store selling up-to-date clothes
box 27 brand image

box /bɒks/ noun a cardboard, wooden or by a design 쑗 the top-selling brands

or plastic container 쑗 The goods were of toothpaste 쑗 The company is launch-
sent in thin cardboard boxes. 쑗 The ing a new brand of soap.
watches are prepacked in plastic dis- ‘…the multiple brought the price down to £2.49
play boxes. 왍 paperclips come in boxes in some stores. We had not agreed to this deal
and they sold out very rapidly. When they
of two hundred paperclips are packed reordered we would not give it to them. This
two hundred to a box kind of activity is bad for the brand and we
boxed /bɒkst/ adjective put or sold in cannot afford it’ [The Grocer]
a box ‘…you have to look much further down the
sales league to find a brand which has not been
boxed set /
bɒkst set/ noun a set of around for what seems like ages’ [Marketing]
items sold together in a box ‘…major companies are supporting their best
box store /bɒks stɔ/ noun a super- existing brands with increased investment’
[Marketing Week]
market like a warehouse, with not much
service or promotion, where goods are brand awareness /brnd
sold from their original packing cases 쑗 ə
weənəs/ noun consciousness by the
The school bought stationery in large public of a brand’s existence and quali-
quantities from the box store. 쑗 With ties 쑗 How can you talk about brand
low overheads, box stores can offer awareness when most people don’t even
cut-rate prices. know what the product is supposed to
do? 쑗 Our sales staff must work harder
boycott /bɔkɒt/ noun a refusal to
to increase brand awareness in this
buy or to deal in certain products 쑗 The
area.
union organised a boycott against or of
imported cars. 쐽 verb to refuse to buy brand building /brnd
bldŋ/,
or deal in a product 쑗 We are boycotting brand development /brnd d-
all imports from that country. 왍 the
veləpmənt/ noun the expansion of the
management has boycotted the meet- total awareness and sales of a brand in a
ing has refused to attend the meeting given market
BRAD abbr British Rate and Data brand champion /brnd

tʃmpiən/ noun an executive who is
brainstorming /bren
stɔmŋ/
passionate about a brand and promotes
noun an intensive discussion by a small it vigorously worldwide
group of people as a method of produc-
ing new ideas or solving problems brand development index
/
brnd dveləpmənt n
deks/ noun
brainstorming session /bren- an index that compares the percentage

stɔmŋ
seʃ(ə)n/ noun a meeting to of a brand’s total sales in a given market
thrash out problems, where everyone to the percentage of the total population
puts forward different ideas in the market. Abbr BDI
branch /brɑntʃ/ noun the local office branded goods /
brndd "υdz/
of a bank or large business, or a local plural noun goods sold under brand
shop which is part of a large chain names
branch manager /brɑntʃ brand equity /brnd
ekwti/ noun
mndə/ noun a person in charge of a the extra value brought to a product by
branch of a company being a brand, both value as seen by the
‘…a leading manufacturer of business, customer as well as financial value to
industrial and commercial products requires a
branch manager to head up its mid-western the company
Canada operations based in Winnipeg’ brand extension strategy /
brnd
[Globe and Mail (Toronto)] kstenʃən
strtədi/ noun the apply-
branch out /
brɑntʃ aυt/ verb to ing of an existing brand name to a new
start a new but usually related type of product
business 쑗 From car retailing, the com- brand image /brnd md/ noun
pany branched out into car leasing. an opinion of a product which people
brand /brnd/ noun a make of prod- associate in their minds with the brand
uct, which can be recognised by a name name
branding 28 breakeven point

branding /brndŋ/ noun the act of branding as the only way to promote a
giving brand names to products product
‘…marketing and branding are becoming more brandwidth /brndwdθ/ noun the
important in the hotel and restaurant business.
There is increasing competition in hotels and amount of customer recognition which a
reviews of brand image are commonplace’ brand enjoys
[Marketing Week] brand X /brnd eks/ noun the anon-
brand leader /brnd lidə/ noun the ymous brand used in TV commercials to
brand with the largest market share compare with the named brand being
advertised
brand life cycle /
brnd laf

sak(ə)l/ noun stages in the life of a breach /britʃ/ noun a failure to carry
brand in terms of sales and profitability, out the terms of an agreement
from its launch to its decline breach of contract /
britʃ əv
brand loyalty /brnd lɔəlti/ noun kɒntrkt/ noun the failure to do some-
the feeling of trust and satisfaction that thing which has been agreed in a
makes a customer always buy the same contract
brand of product bread-and-butter line /
bred ən
brand management /brnd b tə lanz/ noun a range of items
mndmənt/ noun directing the mak- which are found in all stores of one cate-
ing and selling of a brand as an inde- gory, and which provide a solid basis of
pendent item continuing sales
brand manager /brnd mndə/ break /brek/ noun a pause between
noun the manager or executive respon- periods of work 쑗 She keyboarded for
sible for the marketing of a particular two hours without a break. 쐽 verb
brand 쑗 The brand manager and the (NOTE: breaking- broke- has broken)
production manager met to discuss 왍 break bulk to split into small quanti-
changes to be made to the company’s ties for retail sale after having bought a
leading brand of soap. large quantity 왍 break even to balance
costs and receipts, but not make a profit
brand name /brnd nem/ noun a 쑗 Last year the company only just broke
name of a particular make of product even. 쑗 We broke even in our first two
brand positioning /brnd pə- months of trading.
zʃ(ə)nŋ/ noun the practice of placing breakeven analysis /brekiv(ə)n
a brand in a particular position in the ə
nləss/ noun 1. the analysis of fixed
market, so that it is recognisable to the and variable costs and sales that deter-
public 쑗 Intensive television advertising mines at what level of production the
is a key part of our brand positioning breakeven point will be reached 쑗 The
strategy. (NOTE: also called product breakeven analysis showed that the
positioning) company will only break even if it sells
brand recognition /
brnd rekə"- at least 1,000 bicycles a month. 2. a
nʃ(ə)n/ noun the ability of the con- method of showing the point at which a
sumer to recognise a brand on sight company’s income from sales will be
equal to its production costs so that it
brand switching /brnd
swtʃŋ/ neither makes a profit nor makes a loss
noun the practice of changing from buy- (NOTE: Breakeven analysis is usually
ing one brand to another, showing little shown in the form of a chart and can
brand loyalty 쑗 We can’t rely on steady be used to help companies make deci-
sales with such a lot of brand switching sions, set prices for their products and
going on. 쑗 Brand switching makes work out the effects of changes in pro-
shopping more fun for consumers. duction or sales volume on their costs
brand value /brnd
vlju/ noun and profits.)
the value of a brand name breakeven point /brekiv(ə)n
brand wagon /brnd
w"ən/ pɔnt/ noun a point at which sales cover
noun the tendency for marketers to see costs, but do not show a profit
breaking bulk 29 bucket shop

breaking bulk /
brekŋ b lk/ noun broadcasting media /-

the practice of buying in bulk and then brɔdkɑstŋ
midiə/plural noun me-
selling in small quantities to many dia such as radio or TV
customers broadsheet /brɔdʃit/ noun a large
break up /
brek  p/ verb to split size of newspaper page (as opposed to
something large into small sections 쑗 tabloid). Compare tabloid
The company was broken up and sepa- broadside /brɔdsad/ noun US a
rate divisions sold off. large format publicity leaflet
break-up value /brek p
vlju/ brochure /brəυʃə/ noun a publicity
noun 1. the value of the material of a booklet 쑗 We sent off for a brochure
fixed asset 쑗 What would the break-up about holidays in Greece or about
value of our old machinery be? 쑗 Scrap postal services.
merchants were asked to estimate the brochureware /brəυʃəweə/ noun a
tractors’ break-up value. 2. the value of website that provides information about
various parts of a company taken products and services in the same way
separately as a printed brochure (NOTE: The word
bricks-and-mortar /
brks ən is often used negatively to refer to
mɔtə/ adjective conducting business electronic advertising for planned but
in the traditional way in buildings such nonexistent products.)
as shops and warehouses and not being broken lot /
brəυkən lɒt/ noun an
involved in e-commerce. Compare incomplete set of goods for sale 쑗 We’ll
clicks-and-mortar give you a discount since it is a broken
bridge /brd/ verb to print an ad- lot, with two items missing.
vertisement across the centre of a broker /brəυkə/ noun 1. a dealer who
double-page spread in a magazine acts as a middleman between a buyer
brief /brif/ verb to explain something and a seller 2. 왍 (stock)broker a person
to someone in detail 쑗 The sales staff or firm that buys and sells shares or
were briefed on the new product. 쑗 The bonds on behalf of clients
managing director briefed the board on brokerage /brəυkərd/, broker’s
the progress of the negotiations. commission /
brəυkəz kəmʃ(ə)n/
briefing /brifŋ/ noun telling some- noun payment to a broker for a deal car-
one details 쑗 All sales staff have to at- ried out
tend a sales briefing on the new product. brown goods /braυn "υdz/ plural
British Rate and Data /
brtʃ
ret noun electrical equipment for home en-
ən detə/ a regular publication which tertainment, e.g. television sets, hi-fi
lists British newspapers and magazines, equipment. Compare white goods
giving all relevant information about browser /braυzə/ noun a piece of
their circulation, rates, frequency and software that enables computer users to
other advertising services offered 쑗 You have access to the Internet and World
should consult BRAD first to find the Wide Web
most suitable newspaper to carry our bubble card /b b(ə)l kɑd/, bubble
advertising. Abbr BRAD (NOTE: the pack /b b(ə)l pk/ noun a type of
comparable American publication is packaging, where the item for sale is
Standard Rate and Data Service) covered by a stiff plastic sheet sealed to
broadband /brɔdbnd/ noun a data a card backing
transmission system that allows large bubble wrap /b b(ə)l rp/ noun a
amounts of data to be transferred very sheet of clear plastic with bubbles of air
quickly in it, used as a protective wrapping
broadcast /brɔdkɑst/ noun a radio material
or TV programme 쐽 verb to send out on bucket shop /b kt ʃɒp/ noun 1.
radio or TV an firm of brokers or dealers that sells
shares that may be worthless 2. a firm
budget 30 bulky

that sells cheap airline or other travel budget surplus /
b dt s&pləs/
tickets noun a situation where there is more
‘…at last something is being done about the revenue than was planned for in the
thousands of bucket shops across the nation that budget
sell investment scams by phone’
[Forbes Magazine] budget variance /
b dt
veəriəns/ noun the difference between
budget /b dt/ noun 1. a plan of ex- the cost as estimated for a budget and
pected spending and income for a period the actual cost
of time 쑗 We have agreed the budgets
building materials /bldŋ
for next year. 2. 왍 the Budget the an-
mə
təriəlz/ plural noun materials used
nual plan of taxes and government
in building, e.g. bricks and cement
spending proposed by a finance minis-
ter. In the UK, this is the Chancellor of building permit /bldŋ
p&mt/
the Exchequer. 쑗 The minister put for- noun an official document which allows
ward a budget aimed at boosting the someone to build on a piece of land
economy. 왍 to balance the budget to build-up approach /bld p
plan income and expenditure so that ə
prəυtʃ/ noun a method of calculating
they balance 쑗 The president is plan- the budget for promotion by determin-
ning for a balanced budget. 3. (in ing the tasks that have to be carried out
shops) cheap 왍 budget prices low and estimating the costs of performing
prices 쐽 verb to plan probable income them
and expenditure 쑗 We are budgeting for
£10,000 of sales next year. built-in /blt n/ adjective forming
part of the system or of a machine 쑗 The
‘…he budgeted for further growth of 150,000
jobs (or 2.5 per cent) in the current financial PC has a built-in modem. 쑗 The ac-
year’ [Sydney Morning Herald] counting system has a series of built-in
checks.
‘…the Federal government’s budget targets for
employment and growth are within reach built-in obsolescence /blt n
according to the latest figures’ ɒbsə
les(ə)ns/ noun a method of ensur-
[Australian Financial Review]
ing continuing sales of a product by
budget account /b dt ə
kaυnt/ making it in such a way that it will soon
noun a bank account where you plan in- become obsolete
come and expenditure to allow for peri- bulk /b lk/ noun a large quantity of
ods when expenditure is high, by paying goods 왍 in bulk in large quantities 쑗 to
a set amount each month buy rice in bulk
budgetary /b dt(ə)r/ adjective bulk buying /b lk baŋ/ noun get-
referring to a budget ting large quantities of goods at low
budgetary control /
b dt(ə)ri prices
kəntrəυl/ noun controlled spending ac- bulk carrier /b lk kriə/ noun a
cording to a planned budget ship which carries large quantities of
budgetary policy /
b dt(ə)ri loose goods such as corn or coal
pɒlsi/ noun the policy of planning in- bulk discount /b lk dskaυnt/
come and expenditure noun a discount given to a purchaser
budgetary requirements who buys in bulk
/
b dt(ə)ri rkwaəmənts/ plural bulk rate /b lk ret/ noun a cheap
noun the rate of spending or income re- rate offered to advertisers who take
quired to meet the budget forecasts large amounts of advertising space
budget department /b dt d- bulk shipment /b lk ʃpmənt/

pɑtmənt/ noun a department in a noun a shipment of large quantities of
large store which sells cheaper goods goods
budgeting /b dtŋ/ noun the prep- bulky /b lki/ adjective large and awk-
aration of budgets to help plan expendi- ward 쑗 The Post Office does not accept
ture and income bulky packages.
bulldog 31 business efficiency exhibition

bulldog /bυldɒ"/ noun the first edi- business address /bzns ə
dres/
tion of a daily newspaper noun the details of number, street and
bulletin /bυlətn/ noun a short note, town where a company is located
newsletter or report, issued regularly 쑗 business agent /bzns
edənt/
Bulletins were regularly sent to the noun US the chief local official of a
sales force. 쑗 The bulletin contained trade union
sales figures for the month. business call /bzns kɔl/ noun a
bulletin board /bυltn bɔd/, no- visit to talk to someone about business
tice board noun a website that allows business card /bzns kɑd/ noun a
members of an interest group to ex- card showing a businessperson’s name
change emails, chat online, and access and the name and address of the com-
software pany they work for
bumper sticker /b mpə
stkə/ business case /bzns kes/ noun a
noun an advertising sticker put onto the statement that explains why a particular
bumper of a car course of action would be advantageous
bundle /b nd(ə)l/ verb to market a or profitable to an organisation (NOTE: A
package that contains various products business case depends on the prepa-
or services at a special price ration and presentation of a viable
business plan and is intended to weed
bundling /b ndlŋ/ noun putting out ideas that may seem promising but
several items together to form a package have no real long-term value to an or-
deal, especially offering software as part ganisation.)
of the purchase of computer hardware business centre /bzns
sentə/
buppies /b piz/ plural noun young noun the part of a town where the main
professional people with relatively high banks, shops and offices are located
incomes (NOTE: Short for Black Up- business class /bzns klɑs/ noun
wardly-Mobile Professionals) a type of airline travel which is less ex-
burst /b&st/ noun a large number of pensive than first class and more com-
advertisements for a product placed fortable than economy class
over a short period 쑗 Shall we go for a business community /bzns kə-
burst or for a more prolonged
mjunti/ noun the business people liv-
campaign? ing and working in the area
business /bzns/ noun 1. work in business computer /bzns kəm-
buying or selling 쑗 business is expand-
pjutə/ noun a powerful small com-
ing 쑗 We do a lot of business with Ja- puter programmed for special business
pan. 쑗 Business is slow. 쑗 Repairing uses
cars is 90% of our business. 쑗 We did business correspondence
more business in the week before /bzns kɒr
spɒndəns/ noun letters
Christmas than we usually do in a concerned with a business
month. 쑗 Strikes are very bad for busi-
ness. 쑗 What’s your line of business? 왍 business correspondent /bzns
to be in business to run a commercial kɒr
spɒndənt/ noun a journalist who
firm 왍 on business doing commercial writes articles on business news for
work 쑗 He had to go abroad on busi- newspapers
ness. 쑗 The chairman is in Holland on business cycle /bzns
sak(ə)l/
business. 2. a commercial company 쑗 noun the period during which trade ex-
He owns a small car repair business. 쑗 pands, slows down and then expands
She runs a business from her home. 쑗 again
He set up in business as an insurance business efficiency exhibition
broker. 3. affairs discussed 쑗 The main /
bzns fʃ(ə)nsi eks
bʃ(ə)n/ noun
business of the meeting was finished by an exhibition which shows products
3 p.m. such as computers and word-processors
which help businesses to be efficient
business environment 32 buy classes

business environment /
bzns n- ten used when trying to raise a loan, or
varənmənt/ noun the elements or fac- when setting up a new business
tors outside a business organisation business portfolio analysis
which directly affect it, such as the sup- /
bzns pɔtfəυliəυ ə
nləss/ noun
ply of raw materials and product de- a method of categorising a firm’s prod-
mand 쑗 The unreliability of supplies is ucts according to their relative competi-
one of the worst features of our business tive position and business growth rate in
environment. order to lay the foundations for sound
business equipment /bzns strategic planning

kwpmənt/ noun the machines used business publication /bzns
in an office
p blkeʃ(ə)n/ noun a magazine or
business expenses /bzns k- newspaper which is only concerned

spensz/ plural noun money spent on with business matters, e.g. trade journals
running a business, not on stock or business-to-business /
bzns tə
assets bzns/ noun full form of B2B
business game /bzns "em/ noun business-to-business advertis-
a game, often run on a computer, in ing /
bzns tə bzns
dvətazŋ/
which individuals or teams compete to noun advertising aimed at businesses,
do business in an imaginary market 쑗 not at households or private purchasers
Students on management courses are of-
ten asked to take part in business games
business-to-consumer /
bzns tə
kənsjumə/ noun full form of B2C
to improve their decision-making skills.
business transaction /bzns
business gift /bzns "ft/ noun a trn
zkʃən/ noun an act of buying or
present received by a customer, either selling
attached to a product bought or given to
him by the retailer or producer on proof business unit /bzns junt/ noun
of purchase of a minimum quantity of a unit within an organisation that oper-
goods ates as a separate department, division
or stand-alone business and is usually
business hours /bzns aυəz/ plu- treated as a separate profit centre
ral noun the time when a business is
open, usually 9.00 a.m. to 5.30 p.m. busy season /bzi
siz(ə)n/ noun
the period when a company is busy
business intelligence /bzns n-

teld(ə)ns/ noun information that buy /ba/ verb to get something by pay-
may be useful to a business when it is ing money 쑗 to buy wholesale and sell
planning its strategy retail 쑗 to buy for cash 쑗 He bought
10,000 shares. 쑗 The company has been
business letter /bzns
letə/ noun bought by its leading supplier. (NOTE:
a letter which deals with business buying- bought) 왍 buy one get one
matters free giving free gifts to customers such
business mailing list /
bzns as one free item for each one bought.
melŋ lst/ noun a list of names and Abbr bogof
addresses of businesses buy back /
ba bk/ verb to buy
businessman /bznsmn/, busi- something which you sold earlier 쑗 She
nesswoman /bzns
wυmən/ noun a sold the shop last year and is now trying
man or woman engaged in business to buy it back.
business park /bzns pɑk/ noun a buy-back agreement /ba bk
group of small factories or warehouses, ə
"rimənt/ noun an agreement that a
especially near a town 쑗 He has rented producer will buy back goods from a
a unit in the local business park. distributor on a specific date if the dis-
business plan /bzns pln/ noun tributor has not been able to sell them
a document drawn up to show how a buy classes /ba
klɑsz/ plural
business is planned to work, with cash noun categories of buying based on how
flow forecasts, sales forecasts, etc., of- much the purchasing decisions of an or-
buyer 33 by-line

ganisation have changed from the time peting products, especially when pur-
of the previous purchase chasing industrial supplies
buyer /baə/ noun 1. a person who buy in /
ba n/ verb (of a seller at an
buys 왍 there were no buyers no one auction) to buy the thing which you are
wanted to buy 2. a person who buys trying to sell because no one will pay
stock on behalf of a trading organisation the price you want
for resale or for use in production 3. in buying /baŋ/ noun the act of getting
B2B selling, a person who has made a something for money
commitment to buy, but has not final- buying agent /baŋ
edənt/ noun
ised the deal a person who buys for a business or an-
other person, and earns a commission 쑗
buyer expectation /
baə ekspek-
Our buying agent is presently looking
teʃ(ə)n/ noun same as customer for materials in Portugal. 쑗 The buying
expectation agent knows a whole network of suppli-
buyer’s guide /baəz "ad/ noun a ers round the country.
book or pamphlet which gives advice to buying department /baŋ d-
purchasers on the prices, availability
pɑtmənt/ noun the department in a
and reliability of products or services company which buys raw materials or
buyer’s market /baəz
mɑkt/ goods for use in the company
noun a market where products are sold buying habits /baŋ
hbts/
cheaply because there are few people plural noun the general way in which
who want to buy them (NOTE: the oppo- some people select and buy goods
site is a seller’s market) buying power /baŋ
paυə/ noun
buyer’s risk /
baəz rsk/ noun the the ability to buy 쑗 The buying power of
risk taken by a buyer when accepting the pound has fallen over the last five
goods or services without a guarantee years.
buyer’s surplus /
baəz s&pləs/ buying service /baŋ
s&vs/ noun
an agency which buys advertising space
noun an extra margin generated when
or time for its clients
an item is bought at a higher discount
than usual 쑗 When the brand manager buy phases /ba
fezz/ plural noun
realised how great the buyer’s surplus phases in the buying of industrial prod-
was, she decided to lower the price of ucts. The main phases are the recogni-
tion of a want, the identification of a
the product.
product, comparison with other compet-
buy forward /ba fɔwəd/ verb to ing products on the market, evaluation
buy foreign currency before you need it, of possible courses of action and final
in order to be sure of the exchange rate decision-making.
buy grid /ba "rd/ noun a method by-line /ba lan/ noun the journal-
used for objective assessment of com- ist’s name which appears before a news-
paper report
C2C commerce 34 cancellation clause

C2C commerce /
si tə si kɒm&s/ call divert noun a telephone facility in
same as consumer-to-consumer which calls are automatically switched
commerce from one number to another
CA abbr Consumers Association call frequency /kɔl
frikwənsi/
noun the number of times a salesperson
cabinet /kbnət/ noun a display visits a specific customer during a pe-
case for goods for sale, especially frozen riod of time
food
call in /
kɔl n/ verb 1. to visit 쑗
cable television /
keb(ə)l tel- Their sales representative called in
v(ə)n/, cable TV /
keb(ə)l tivi/ twice last week. 2. to telephone to make
noun a television service which a contact 쑗 We ask the reps to call in ev-
viewer receives via a cable from a par- ery Friday to report the weeks’ sales.
ticular station and pays for on calling line identification /kɔlŋ
subscription lan adentf
keʃ(ə)n/ noun 쒁 com-
caging /kedŋ/ noun the handling puter telephony integration
of cash and cheques in a direct-mail call letters /kɔl
letəz/ plural noun
operation US a series of letters used to identify a
call /kɔl/ noun a visit 쑗 The sales reps radio station
make six calls a day. 쐽 verb 왍 to call on call rate /kɔl ret/ noun the number
someone to visit someone 쑗 Our sales of calls per day or per week which a
people call on their best accounts twice salesperson makes on customers
a month. call report /kɔl r
pɔt/ noun a re-
call bird /kɔl b&d/ noun a port made by a salesperson after a visit
low-priced product advertised to attract to a customer 쑗 In his call report, the
customers to the point-of-sale where sales rep explained why he was experi-
they can then be sold more profitable encing sales resistance. 쑗 The call re-
goods 쑗 We need a call bird to bring ports have to be handed in each week to
round more customers. the sales manager.
call centre /kɔl sentə/ noun a de- call to action /
kɔl tυ kʃ(ə)n/
partment or business that operates a noun a prompt which encourages a po-
large number of telephones and special- tential Internet purchaser to do some-
ises in making calls to sell products or in thing such as click to see a range of
receiving calls from customers to colours
helplines or information or after-sales camp /kmp/ verb 왍 to camp on the
services (NOTE: A call centre often acts line to have to wait on hold for a long
as the central point of contact between time until someone answers your tele-
an organisation and its customers.) phone call
call cycle /kɔl
sak(ə)l/ noun the campaign /kmpen/ noun a series
time between a salesperson’s visits to of co-ordinated activities to reach an
the same customer 쑗 Because we now objective
have more customers to deal with, call cancellation clause /
knsə-
cycles are getting longer. leʃ(ə)n klɔz/ noun a clause in a con-
cancellation date 35 capitalist

tract which states the terms on which the ‘…issued and fully paid capital is $100 million,
contract may be cancelled comprising 2340 shares of $100 each and
997,660 ordinary shares of $100 each’
cancellation date /
knsəleʃ(ə)n [Hongkong Standard]
det/ noun the final date by which an capital account /kpt(ə)l
advertisement must be cancelled if the ə
kaυnt/ noun an account of dealings
advertiser does not wish to proceed such as money invested in or taken out
canned presentation /
knd of the company by the owners of a
prez(ə)nteʃ(ə)n/ noun a standard company
sales presentation which some salespeo- capital allowances /
kpt(ə)l
ple use all the time 쑗 When trainee sales əlaυənsz/ plural noun the allowances
reps are not sure how to approach cus- based on the value of fixed assets which
tomers they fall back on canned presen- may be deducted from a company’s
tations. 쑗 The sales manager feels that profits and so reduce its tax liability
the artificiality of canned presentations COMMENT: Under current UK law, depre-
makes them ineffective. ciation is not allowable for tax on profits,
cannibalisation /
knbəla- whereas capital allowances, based on the
zeʃ(ə)n/, cannibalization, cannibal- value of fixed assets owned by the com-
ism /knbəlz(ə)m/ noun a situation pany, are tax-allowable.
where a company launches a new prod- capital assets /
kpt(ə)l sets/
uct which sells well at the expense of plural noun the property, machines, etc.,
another established product 쑗 Though which a company owns and uses but
the new product sold well, the resultant which the company does not buy and
cannibalisation damaged the company’s sell as part of its regular trade
overall profits for the year. 쑗 Cannibal- capital city /
kpt(ə)l sti/ noun
ism became a real problem because the the main city in a country, where the
new product made the existing line seem government is located
obsolete.
capital gain /
kpt(ə)l "en/ noun
canvass /knvəs/ verb to visit peo- an amount of money made by selling a
ple to ask them to buy goods, to vote or fixed asset
to say what they think 쑗 He’s canvass-
ing for customers for his hairdresser’s capital gains tax /
kpt(ə)l "enz
shop. 쑗 We’ve canvassed the staff about tks/ noun a tax paid on capital gains.
raising the prices in the staff restaurant. Abbr CGT
capital goods /kpt(ə)l "υdz/ plu-
canvasser /knvəsə/ noun a person ral noun machinery, buildings and raw
who canvasses
materials which are used to make other
canvassing /knvəsŋ/ noun the goods
practice of asking people to buy, to vote, capital-intensive industry
or to say what they think 쑗 door-to-door /
kpt(ə)l ntensv
ndəstri/ noun
canvassing 쑗 canvassing techniques an industry which needs a large amount
capital /kpt(ə)l/ noun 1. the of capital investment in plant to make it
money, property and assets used in a work
business 쑗 a company with £10,000 capitalise on /kpt(ə)laz ɒn/ verb
capital or with a capital of £10,000 왍 to make a profit from 쑗 We are seeking
capital structure of a company the to capitalize on our market position.
way in which a company’s capital is
made up from various sources 2. money capitalism /kpt(ə)lz(ə)m/ noun
owned by individuals or companies, the economic system in which each per-
used for investment 왍 movements of son has the right to invest money, to
capital changes of investments from work in business, and to buy and sell,
one country to another 왍 flight of capi- with no restriction from the state
tal the rapid movement of capital out of capitalist /kpt(ə)lst/ adjective
one country because of lack of confi- working according to the principles of
dence in that country’s economic future capitalism 쑗 the capitalist system 쑗 the
capitalist economy 36 cargo

capitalist countries or world 쐽 noun a sell unwanted items from the back of
person who invests capital in business their cars
enterprises
car card /kɑ kɑd/ noun an adver-
capitalist economy /
kpt(ə)lst tisement display card which is placed in
kɒnəmi/ noun a system where each a vehicle such as a bus, taxi or train
person has the right to invest money, to card /kɑd/ noun 1. a small piece of
work in business, and to buy and sell, cardboard or plastic, usually with infor-
with no restrictions from the state mation printed on it 쑗 He showed his
capital levy /
kpt(ə)l levi/ noun a staff card to get a discount in the store.
tax on the value of a person’s property 2. a printed piece of cardboard with in-
and possessions formation on it
capital loss /
kpt(ə)l lɒs/ noun a ‘…ever since October, when the banks’ base
rate climbed to 15 per cent, the main credit card
loss made by selling assets (NOTE: The issuers have faced the prospect of having to
opposite is capital gain.) push interest rates above 30 per cent APR.
Though store cards have charged interest at
capital transfer tax /
kpt(ə)l much higher rates than this for some years, 30
trnsf&
tks/ noun formerly, a tax per cent APR is something the banks fight shy
on gifts or bequests of money or of’ [Financial Times Review]
property card deck /kɑd dek/ noun a series
captain /kptn/ noun same as of small cards, advertising different
channel captain products or services, which are mailed
caption /kpʃən/ noun a short de- as a pack in a plastic envelope to pro-
scription at the bottom of an illustration spective customers
or photograph 쑗 Having no caption at cardholder /kɑd
həυldə/ noun an
the bottom of the illustration created individual or company that has an ac-
more reader interest in the product. 쑗 It count with a credit card company and
took the copywriter days to think of a whose name usually appears on the card
suitable caption for the photograph. card-issuing bank /kɑd sjuŋ
captive audience /
kptv
bŋk/ noun same as issuer
ɔdiəns/ noun the people who cannot card-not-present merchant ac-
avoid being exposed to an advertise- count /
kɑd nɒt prez(ə)nt m&tʃənt
ment 쑗 Advertisers like to have their ə
kaυnt/ noun an account that enables
posters in underground stations where businesses operating on the web to re-
there is a large captive audience. ceive payments by credit card without
captive market /
kptv mɑkt/ the buyer or card being physically pres-
noun a market where one supplier has a ent when the transaction is made
monopoly and the buyer has no choice card rate /kɑd ret/ noun an adver-
over the product which they must tising charge which is based on the
purchase charges listed in a rate card, i.e. without
capture /kptʃə/ verb to take or get any discounts. 쏡 escalator card,
control of something 왍 to capture 10% showcard
of the market to sell hard, and so take a careline /keəlan/ noun a telephone
10% market share 왍 to capture 20% of number which links people to services
a company’s shares to buy shares in a which can help them such as social ser-
company rapidly and so own 20% of it vices departments, hospitals, or a simi-
car assembly plant /
kɑr əsembli lar service offered by shops to their

plɑnt/ noun a factory where cars are customers
put together from parts made in other cargo /kɑ"əυ/ noun a load of goods
factories which are sent in a ship or plane, etc. 왍
car boot sale /kɑ bυt sel/ noun a the ship was taking on cargo it was be-
type of jumble sale, organised in a large ing loaded with goods 왍 to load cargo
car park or sports field, where people to put cargo on a ship
cargo liner 37 cash and carry

cargo liner /kɑ"əυ
lanə/ noun a ter it has happened 쑗 The carry-over ef-
cargo ship with a regular schedule 쑗 If fect of the currency devaluation was a
the cargo liner’s schedule doesn’t suit good few years of lucrative exporting. 쑗
us, we’ll have to charter a ship. 쑗 The The political unrest in our key export
cargo liner makes regular trips between markets had disastrous carry-over ef-
Southampton and Lisbon. fects on our international marketing.
cargo ship /kɑ"əυ ʃp/ noun a ship cart /kɑt/ noun a flat open goods vehi-
which carries cargo, not passengers cle pulled by a horse
car mart /kɑ mɑt/ noun US a sec- cartage /kɑtd/ noun carrying
ondhand car salesroom goods by road
carnet /kɑne/ noun an international cartel /kɑtel/ noun a group of com-
document which allows dutiable goods panies which try to fix the price or to
to cross several European countries by regulate the supply of a product so that
road without paying duty until the goods they can make more profit
reach their final destination carter /kɑtə/ noun a person who
carriage /krd/ noun 1. the trans- transports goods by road
porting of goods from one place to an- carton /kɑt(ə)n/ noun a box made of
other 쑗 to pay for carriage 2. the cost of cardboard 쑗 a carton of milk
transport of goods 쑗 to allow 10% for case /kes/ noun a cardboard or
carriage 쑗 Carriage is 15% of the total wooden box for packing and carrying
cost. 왍 carriage free a deal where the goods 왍 six cases of wine six boxes,
customer does not pay for the shipping each containing twelve bottles
왍 carriage paid a deal where the seller
has paid for the shipping 왍 carriage case study /kes
st d/ noun a true
prepaid a note showing that the trans- or invented business situation used in
port costs have been paid in advance business training to practise deci-
sion-making 쑗 The marketing case
carrier /kriə/ noun 1. a company study consisted of a long history of the
which transports goods 쑗 We only use company, the present situation and a
reputable carriers. 2. a vehicle or ship choice of strategic plans. 쑗 The case
which transports goods study was about territory-planning in a
carrier bag /kriə b"/ noun a city in which there were a number of ac-
shopping bag made of strong paper counts of varying importance.
carrier’s risk /
kriəz rsk/ noun cash /kʃ/ noun 1. money in coins or
the responsibility of a carrier to pay for notes 2. using money in coins or notes 왍
damage or loss of goods being shipped to pay cash down to pay in cash imme-
carry /kri/ verb 1. to take from one diately 쐽 verb 왍 to cash a cheque to ex-
place to another 쑗 a tanker carrying oil change a cheque for cash
from the Gulf 쑗 The truck was carrying cashable /kʃəb(ə)l/ adjective
goods to the supermarket. 쑗 The train which can be cashed 쑗 A crossed
was carrying a consignment of cars for cheque is not cashable at any bank.
export. 2. to keep in stock 쑗 to carry a cash account /kʃ ə
kaυnt/ noun
line of goods 쑗 We do not carry pens. an account which records the money
(NOTE: carries- carrying- carried) which is received and spent
carrying /kriŋ/ noun transporting cash advance /kʃ ədvɑns/ noun
from one place to another 쑗 carrying a loan in cash against a future payment
charges 쑗 carrying cost cash against documents /
kʃ
carry over /
kri əυvə/ verb 왍 to ə"enst dɒkjυmənts/ noun a system
carry over a balance to take a balance whereby a buyer receives documents for
from the end of one page or period to the goods on payment of a bill of
the beginning of the next exchange
carry-over effect /
kri əυvər cash and carry /
kʃ ən kri/

fekt/ noun the effect of something af- noun a large store selling goods at low
cashback 38 catalogue

prices, where the customer pays cash cash flow forecast /kʃ fləυ
and takes the goods away immediately
fɔkɑst/ noun a forecast of when cash
쑗 We get our supplies every morning will be received or paid out
from the cash and carry. cash flow statement /kʃ fləυ
‘…the small independent retailer who stocks up
stetmənt/ noun a report which shows
using cash and carries could be hit hard by the cash sales and purchases
loss of footfall associated with any increase in
smuggled goods’ [The Grocer] cashier /kʃə/ noun 1. a person who
takes money from customers in a shop
cashback /kʃbk/ noun a discount or who deals with the money that has
system where a purchaser receives a been paid 2. a person who deals with
cash discount on the completion of the customers in a bank and takes or gives
purchase cash at the counter
cash balance /kʃ
bləns/ noun a cash in hand /
kʃ n hnd/ noun
balance in cash, as opposed to amounts money and notes, kept to pay small
owed amounts but not deposited in the bank
cash book /kʃ bυk/ noun a book cash items /kʃ
atəmz/ plural
which records cash received and paid noun goods sold for cash
out cash offer /kʃ
ɒfə/ noun an offer
cash budget /kʃ
b dt/ noun a to pay in cash, especially an offer to pay
plan of cash income and expenditure cash when buying shares in a takeover
cash card /kʃ kɑd/ noun a plastic bid
card used to obtain money from a cash cash on delivery /
kʃ ɒn d-
dispenser lv(ə)ri/ noun payment in cash when
cash cow /kʃ kaυ/ noun a product goods are delivered. Abbr COD
or subsidiary company that consistently cash payment /kʃ
pemənt/
generates good profits but does not pro- noun payment in cash
vide growth cash purchase /kʃ
p&tʃəs/ noun
cash deal /kʃ dil/ noun a sale done a purchase made in cash
for cash cash register /kʃ
redstə/ noun
cash desk /kʃ desk/ noun the a machine which shows and adds the
place in a store where you pay for the prices of items bought, with a drawer for
goods bought keeping the cash received
cash discount /kʃ dskaυnt/ cash sale /kʃ sel/ noun a transac-
tion paid for in cash
noun a discount given for payment in
cash cash terms /kʃ t&mz/ plural noun
lower terms which apply if the customer
cash dispenser /kʃ d
spensə/ pays cash
noun a machine which gives out money
when a special card is inserted and in- cash till /kʃ tl/ noun same as cash
structions given register
cash float /kʃ fləυt/ noun cash put cash transaction /kʃ trn-
into the cash box at the beginning of the
zkʃən/ noun a transaction paid for in
day or week to allow change to be given cash
to customers cash up /
kʃ  p/ verb to add up the
cash in a shop at the end of the day
cash flow /kʃ fləυ/ noun cash
which comes into a company from sales cash voucher /kʃ
vaυtʃə/ noun a
(cash inflow) or the money which goes piece of paper which can be exchanged
out in purchases or overhead expendi- for cash 쑗 With every £20 of purchases,
ture (cash outflow) 왍 the company is the customer gets a cash voucher to the
suffering from cash flow problems value of £2.
cash income is not coming in fast catalogue /kt(ə)lɒ"/ noun a publi-
enough to pay the expenditure going out cation which lists items for sale, usually
catalogue house 39 centralised system

showing their prices 쑗 an office equip- buys is in good order. same as let the
ment catalogue 쑗 They sent us a cata- buyer beware
logue of their new range of products. ‘…the idea that buyers at a car boot sale should
(NOTE: American English is usually have any rights at all is laughable. Even those
who do not understand Latin know that caveat
catalog) 쐽 verb to put an item into a emptor is the rule’ [Times]
catalogue (NOTE: American English is
usually catalog) CCTV abbr closed circuit television
catalogue house /kt(ə)lɒ" haυs/ Ceefax /sifks/ noun teletext ser-
noun a company which mainly or solely vices broadcast by the BBC
sells by catalogue ceiling /silŋ/ noun the highest point
catalogue price /kt(ə)lɒ" pras/ that something can reach, e.g. the high-
noun a price as marked in a catalogue or est rate of interest or the largest amount
list of money which a depositor may deposit
쑗 to fix a ceiling for a budget 쑗 There is
catalogue store /kt(ə)lɒ" stɔ/, a ceiling of $100,000 on deposits. 쑗
catalogue showroom /kt(ə)lɒ" Output reached its ceiling in June and

ʃəυrum/ noun a shop where custom- has since fallen back.
ers can examine a catalogue and choose
goods from it census /sensəs/ noun an official
count of a country’s population, includ-
catchment area /ktʃmənt
eəriə/ ing such data as the age, sex, and occu-
noun the area around a shop or shopping pation of individuals 쑗 The market
centre, where the customers live research department made a careful
catchpenny /ktʃpeni/ noun an ar- study of the census in different areas of
ticle which has only superficial appeal, the country to see where demand would
but which attracts buyers 쑗 A closer be highest. 쏡 distribution census
look at the doll showed it to be just a central /sentrəl/ adjective organised
shoddily made catchpenny. by one main point
category extension /kt"(ə)ri ‘…central bankers in Europe and Japan are
k
stenʃən/ noun the applying of an ex- reassessing their intervention policy’
[Duns Business Month]
isting brand name to a new product
category centralise /sentrəlaz/, centralize
category management verb to organise from a central point 쑗
/kt"(ə)ri
mndmənt/ noun a All purchasing has been centralised in
system where managers have responsi- our main office. 쑗 The group benefits
bility for the marketing of a particular from a highly centralised organisational
category or line of products structure. 쑗 The company has become
very centralised, and far more staff
caterer /ketərə/ noun a person or work at headquarters.
company that supplies food and drink,
especially for parties centralised distribution
/
sentrəlazd dstrbjuʃ(ə)n/ noun a
cater for /ketə fɔ/ verb to deal with system of distribution of goods to retail
or provide for 쑗 The store caters mainly stores in a chain, from a central or local
for overseas customers. warehouse, so avoiding direct distribu-
catering /ketərŋ/ noun supplying tion from the manufacturer, and making
food and drink for a party etc. 쐽 adjec- stock control easier
tive 왍 catering for which provides for 쑗 centralised organisational
a store catering for overseas visitors structure /
sentrəlazd ɔ"əna-
catering trade /ketərŋ tred/
zeʃ(ə)n(ə)l str ktʃə/ noun a method
noun the food trade, especially busi- of organising international advertising
nesses supplying food that is ready to and promotion where all decisions are
eat made in a company’s central office
caveat emptor /
kvit emptɔ/ centralised system /
sentrəlazd
phrase meaning that the buyer is respon- sstəm/ noun a system where advertis-
sible for checking that what he or she ing and other marketing activities are
central office 40 channel strip

run from one central marketing challenger /tʃlndə/ noun a com-

department pany which challenges other companies
central office /
sentrəl ɒfs/ noun which are already established in the
the main office which controls all marketplace
smaller offices channel /tʃnl/ noun a means by
Central Office of Information which information or goods pass from
/
sentrəl
ɒfs əv nfəmeʃ(ə)n/ a one place to another 왍 to go through
British government organisation which the official channels to deal with gov-
provides a publicity service and advice ernment officials, especially when mak-
on international trade for British compa- ing a request 왍 to open up new
nies wishing to export. Abbr COI channels of communication to find
new ways of communicating with some-
central purchasing /
sentrəl one 왍 channels of influence the ways in
p&tʃsŋ/ noun purchasing organised which a company can influence con-
by a central office for all branches of a sumers to buy their products, i.e. per-
company sonal influence channels such as
centre spread /
sentə spred/ noun salesmen, or non-personal channels
two facing pages in the centre of a such as press advertising 쑗 Owing to
newspaper or magazine used by an ad- lack of capital there were not many
vertiser for one advertisement 쑗 The channels of influence open to the com-
whole centre spread for three days cost pany. 쑗 It was decided that personal
the advertiser £150,000. 쑗 The centre selling was the most effective channel of
spread was taken up with a large adver- influence for such a specialised product.
tisement for a new model of car. channel captain /tʃn(ə)l
certificate of approval /sə
tfkət
kptn/ noun a business which con-
əv əpruv(ə)l/ noun a document show- trols or has the most influence in a dis-
ing that an item has been approved tribution channel 쑗 The production
officially company became a channel captain by
certificate of origin /sə
tfkət əv acquiring a number of important retail
ɒrdn/ noun a document showing outlets. 쑗 Only businesses with enough
where imported goods come from or financial resources to acquire other
were made companies can become channel
captains.
certified public accountant
/
s&tfad
p blk əkaυntənt/ noun
channel communications
/tʃn(ə)l kəmjun
keʃ(ə)ŋz/ plural
US an accountant who has passed pro-
noun communications to a marketing
fessional examinations
channel such as the company’s sales
CGT abbr capital gains tax force or to selected retailers
chain /tʃen/ noun a series of stores or channel management /tʃn(ə)l
other businesses belonging to the same
mndmənt/ noun the managing of a
company 쑗 a chain of hotels or a hotel marketing channel and the business
chain 쑗 the chairman of a large partners which form part of it
do-it-yourself chain 쑗 He runs a chain
channel members /tʃn(ə)l
of shoe shops. 쑗 She bought several
garden centres and gradually built up a
membəz/ plural noun the various com-
chain. panies which form a distribution
channel
‘…the giant US group is better known for its
chain of cinemas and hotels rather than its channel power /tʃn(ə)l paυə/
involvement in shipping’ [Lloyd’s List] noun the influence which one company
chairman and managing direc- in a trading channel has over the other
tor /
tʃeəmən ən
mndŋ da- companies in the channel
rektə/ noun a managing director who channel strip /tʃn(ə)l strp/ noun
is also chairman of the board of the front edge of a shelf on which details
directors
channel support 41 cheque

of the products displayed can be put chart /tʃɑt/ noun a diagram display-
such as price, weight, code numbers ing information as a series of lines,
channel support /tʃn(ə)l sə
pɔt/ blocks, etc.
noun support given to a marketing chan- charter /tʃɑtə/ noun hiring transport
nel, that is to the people or companies for a special purpose 왍 boat on charter
that help to sell the product to Mr Smith a boat which Mr Smith has
hired for a voyage 쐽 verb to hire for a
character /krktə/ noun a letter, special purpose 쑗 to charter a plane or
number or sign used in typesetting, e.g. a boat or a bus
a letter of the alphabet, a number or a
punctuation mark chartered /tʃɑtəd/ adjective 왍 a
chartered ship, bus, plane a ship, bus
charge /tʃɑd/ noun 1. money which or plane which has been hired for a spe-
must be paid, or price of a service 쑗 to cial purpose
make no charge for delivery 쑗 to make a
small charge for rental 쑗 There is no charterer /tʃɑtərə/ noun a person
charge for this service or No charge is who hires a ship etc. for a special
made for this service. 왍 charges for- purpose
ward charges which will be paid by the charter flight /tʃɑtə flat/ noun a
customer 2. a debit on an account 쑗 It flight in an aircraft which has been hired
appears as a charge on the accounts. 쐽 for that purpose
verb 1. to ask someone to pay for ser- chartering /tʃɑtərŋ/ noun the act
vices later 왍 to charge the packing to of hiring for a special purpose
the customer or to charge the cus- charter party /tʃɑtə
pɑt/ noun a
tomer with the packing the customer contract between the owner and the
has to pay for packing 2. to ask for charterer of a ship
money to be paid 쑗 to charge £5 for de-
livery 쑗 How much does he charge?
charter plane /tʃɑtə plen/ noun a
plane which has been chartered
‘…traveller’s cheques cost 1% of their face
value – some banks charge more for small cheap money /tʃip m ni/ noun
amounts’ [Sunday Times] money which can be borrowed at a low
chargeable /tʃɑdəb(ə)l/ adjective rate of interest
which can be charged 쑗 repairs charge- checkbook /tʃekbυk/ noun US
able to the occupier spelling of cheque book
charge account /tʃɑd ə
kaυnt/ checklist /tʃeklst/ noun a list of
noun an arrangement which a customer points which have to be checked before
has with a store to buy goods and to pay something can be regarded as finished,
for them at a later date, usually when the or as part of a procedure for evaluating
invoice is sent at the end of the month something
(NOTE: The customer will make regular checkout /tʃekaυt/ noun the place
monthly payments into the account where goods are paid for in a shop or su-
and is allowed credit of a multiple of permarket 쑗 We have opened two more
those payments.) checkouts to cope with the Saturday
charity /tʃrt/ noun an organisation rush.
which offers free help or services to checkout staff /tʃekaυt stɑf/
those in need 쑗 Because the organisa- noun the people who work at checkouts
tion is a charity it does not have to pay check sample /tʃek
sɑmp(ə)l/
taxes. 쑗 The charity owes its success to noun a sample to be used to see if a con-
clever marketing strategies in its signment is acceptable
fund-raising. cheque /tʃek/ noun a note to a bank
charity shop /tʃrti ʃɒp/ noun a asking them to pay money from your ac-
shop organised by a charity, usually count to the account of the person
paying low rent and manned by volun- whose name is written on the note 쑗 a
teer staff, selling second-hand or spe- cheque for £10 or a £10 cheque (NOTE:
cially bought products American English is usually check) 왍
cheque account 42 city centre

cheque to the bearer a cheque with no churn rate /tʃ&n ret/ noun 1. a
name written on it, so that the person measurement of how often new custom-
who holds it can cash it 왍 to endorse a ers try a product or service and then stop
cheque to sign a cheque on the back to using it 2. a measurement of how many
show that you accept it 왍 to pay a stocks and bonds are traded in a broker-
cheque into your account to deposit a age account and how often they are
cheque 왍 the bank referred the cheque traded
to the drawer it returned the cheque to c.i.f. abbr cost, insurance and freight
the person who wrote it because there cinema advertising /snmə
was not enough money in the account to
dvətazŋ/ noun advertising by short
pay it 왍 to sign a cheque to sign on the films or still messages on cinema
front of a cheque to show that you screens
authorise the bank to pay the money
circular /s&kjυlə/ adjective sent to
from your account 왍 to stop a cheque to
many people 쐽 noun a leaflet or letter
ask a bank not to pay a cheque which sent to many people 쑗 They sent out a
has been signed and sent circular offering a 10% discount.
cheque account /tʃek ə
kaυnt/ circularise /s&kjυləraz/, circular-
noun a bank account which allows the ize verb to send a circular to 쑗 The com-
customer to write cheques mittee has agreed to circularise the
cheque book /tʃek bυk/ noun a members of the society. 쑗 They circular-
booklet with new blank cheques (NOTE: ised all their customers with a new list
American English is usually of prices.
checkbook) circular letter /
s&kjυlə letə/ noun
cheque (guarantee) card /tʃek a letter sent to many people
"rənti kɑd/ noun a plastic card circular letter of credit /
s&kjυlə
from a bank which guarantees payment
letər əv kredt/ noun a letter of credit
of a cheque up to a specific amount, sent to all branches of the bank which
even if there is no money in the account issues it
cherry-picking /tʃeri
pkŋ/ noun circulate /s&kjυlet/ verb 1. 왍 to
1. going from shop to shop or from sup- circulate freely (of money) to move
plier to supplier, looking for special bar- about without restriction by the govern-
gains 쑗 Cherry-picking has become so ment 2. to send information to 쑗 They
widespread that prices may be forced circulated a new list of prices to all their
down. 2. choosing only the best or most customers. 쑗 They circulated informa-
valuable items from among a group tion about job vacancies to all colleges
in the area.
churn /tʃ&n/ verb 1. to persuade an
investor to change the shares in his or circulation /
s&kjυleʃ(ə)n/ noun
the number of readers of a newspaper or
her portfolio frequently because the bro-
magazine. It is audited and is not the
ker is paid every time the investor buys
same as ‘readership’.
a new share 2. to be in a situation where ‘…the level of currency in circulation increased
many employees stay for only a short to N4.9 billion in the month of August’
time and then leave and have to be re- [Business Times (Lagos)]
placed 3. to buy many different products circulation battle /
s&kjυleʃ(ə)n
or services one after the other without
bt(ə)l/ noun a competition between
showing loyalty to any of them (NOTE: two papers to try to sell more copies in
Churning often happens when compa- the same market
nies have competitive marketing strat- city /st/ noun a large town 쑗 The
egies and continually undercut their largest cities in Europe are linked by
rivals’ prices. This encourages custom- hourly flights.
ers to switch brands constantly in order
to take advantage of cheaper or more city centre /
sti sentə/ noun the
attractive offers.) centre of a large town, usually where the
main shops and offices are situated
CKD 43 clicks-and-mortar business

CKD abbr Completely Knocked Down clean /klin/ adjective straightforward

products or with no complications
claim form /klem fɔm/ noun a clean acceptance /klin ək-
form which has to be filled in when septəns/ noun an unconditional accep-
making an insurance claim tance of a bill of lading 쑗 A clean ac-
ceptance ensures a quick and
class /klɑs/ noun a category or group uncomplicated transaction.
into which things are classified
clean bill of lading /
klin bl əv
classification /
klsfkeʃ(ə)n/ ledŋ/ noun a bill of lading with no
noun arrangement into classes or cate- note to say the shipment is faulty or
gories according to specific characteris- damaged
tics 쑗 the classification of employees by
ages or skills 쑗 Jobs in this organisa- clear /klə/ verb 1. to sell cheaply in
tion fall into several classifications. order to get rid of stock 쑗 ‘Demonstra-
tion models to clear’ 2. to obtain a slot
classified advertisements for broadcasting an advertisement
/
klsfad ədv&tsmənts/ plural
clearance /klərəns/ noun 왍 to ef-
noun advertisements listed in a newspa- fect customs clearance to clear goods
per under special headings such as through customs
‘property for sale’ or ‘jobs wanted’
clearance sale /klərəns sel/ noun
classified catalogue /
klsfad a sale of items at low prices to get rid of
kt(ə)lɒ"/ noun a catalogue which stock
groups articles into categories 쑗 The
classified catalogue is divided into two clear profit /klə prɒft/ noun profit
sections, electrical and non-electrical after all expenses have been paid 쑗 We
products. 쑗 The department store pub- made $6,000 clear profit on the deal.
lishes a classified catalogue with a sec- clerical error /
klerk(ə)l erə/ noun
tion for each department. 쑗 There is no a mistake made by someone doing of-
entry for garden furniture in the classi- fice work
fied catalogue. click /klk/ verb to press a key or but-
classified directory /
klsfad ton on a keyboard or mouse
darekt(ə)ri/ noun a list of businesses click rate /klk ret/ noun same as
grouped under various headings such as click-through rate
computer shops or newsagents clicks and bricks /
klks ən brks/
classified display advertising noun a way of doing business that com-
/
klsfad dsple
dv&tazŋ/ bines e-commerce and traditional shops
noun advertising that, although it is clicks-and-mortar /
klks ən
classified, may also have individual fea- mɔtə/ adjective conducting business
tures such as its own box border or the both through e-commerce and also in
company logo the traditional way in buildings such as
classify /klsfa/ verb to put into shops and warehouses (NOTE: Compare
classes or categories according to spe- this term with bricks-and-mortar.)
cific characteristics (NOTE: classfies- ‘…there may be a silver lining for
classifying- classified) ‘clicks-and-mortar’ stores that have both an
online and a high street presence. Many of these
clause /klɔz/ noun a section of a con- are accepting returns of goods purchased online
tract 쑗 There are ten clauses in the con- at their traditional stores. This is a service that
may make them more popular as consumers
tract of employment. 쑗 There is a clause become more experienced online shoppers’
in this contract concerning the em- [Financial Times]
ployer’s right to dismiss an employee. clicks-and-mortar business
claused bill of lading /
klɔzd bl /
klks ən mɔtə
bzns/ noun a busi-
əv ledŋ/ noun a bill of lading stating ness that uses both e-commerce and
that goods did not arrive on board in buildings such as shops to market its
good condition products
click-through 44 closing sentence

click-through /klk θru/ noun an to deal in the area 4. to stop something

act of clicking on a banner or other being open
on-screen advertising that takes the user ‘Toronto stocks closed at an all-time high,
through to the advertiser’s website posting their fifth straight day of advances in
(NOTE: The number of times users click heavy trading’ [Financial Times]
on an advertisement can be counted, closed /kləυzd/ adjective 1. not open
and the total number of click-throughs for business, or not doing business 쑗
is a way of measuring how successful The office is closed on Mondays. 쑗
the advertisement has been.) These warehouses are usually closed to
click-through rate /klk θru ret/ the public. 2. restricted
noun a method of charging an advertiser closed circuit television /
kləυzd
for the display of a banner advertise- s&kt telv(ə)n/ noun a system
ment on a website. Each time a visitor where TV is shown only to a small
clicks on a displayed advertisement group of people within a limited area
which links to the advertiser’s main site, such as a building. Abbr CCTV
the advertiser is charged a fee. A closed market /kləυzd mɑkt/
click-through rate of just a few percent noun a market where a supplier deals
is common and most advertisers have to only with one agent or distributor and
pay per thousand impressions of their does not supply any others direct 쑗 They
banner ad, sometimes written CTM signed a closed-market agreement with
(click-through per thousand). (NOTE: an Egyptian company.
The click-through rate is expressed as
a percentage of ad views and is used close down /
kləυz daυn/ verb to
to measure how successful an adver- shut a shop, factory or service for a long
tisement has been.) period or for ever 쑗 The company is
closing down its London office. 쑗 The
client /klaənt/ noun a person with accident closed down the station for a
whom business is done or who pays for period.
a service 쑗 One of our major clients has ‘…the best thing would be to have a few more
defaulted on her payments. plants close down and bring supply more in line
client base /klaənt bes/ noun with current demand’ [Fortune]
same as client list closing /kləυzŋ/ adjective 1. final or
clientele /
kliɒntel/ noun all the cli- coming at the end 2. at the end of an ac-
ents of a business counting period 쑗 At the end of the
client list /klaənt lst/ noun a list of quarter the bookkeeper has to calculate
clients of an advertising agency the closing balance. 쐽 noun 왍 the clos-
ing of an account the act of stopping
clip /klp/ noun a short extract from a supply to a customer on credit
film
closing bid /kləυzŋ bd/ noun the
clipping /klpŋ/ noun a piece cut out last bid at an auction, the bid which is
from a publication which refers to an successful
item of particular interest
closing date /kləυzŋ det/ noun
clipping service /klpŋ
s&vs/ the last date 쑗 The closing date for ten-
noun the service of cutting out refer- ders to be received is May 1st.
ences to a client in newspapers or maga-
zines and sending them to him closing-down sale /
kləυzŋ daυn

sel/ noun the sale of goods when a
close /kləυs/ noun the end of a sales shop is closing for ever
negotiation 쐽 verb 1. to bring to an end
왍 to close a sale to end a sales negotia- closing price /kləυzŋ pras/ noun
tion and persuade a buyer to make a pur- the price of a share at the end of a day’s
chase 2. to stop doing business for the trading
day 쑗 The office closes at 5.30. 쑗 We closing sentence /kləυzŋ
close early on Saturdays. 3. 왍 to close a
sentəns/ noun the last sentence in a
market to restrict a market to one agent marketing email which pushes the cus-
or distributor, and refuse to allow others tomer to take action
closing stock 45 collateral

closing stock /kləυzŋ stɒk/ noun between two sets of data on a continuum
the details of stock at the end of an ac- from –1 to +1
counting period 쑗 At the end of the cognitive dissonance /
kɒ"nətv
month the closing stock was 10% higher dsənəns/ noun the feeling of dissatis-
than at the end of the previous month. faction experienced by a person who
closing technique /kləυzŋ tek- cannot reconcile apparently contradic-

nik/ noun a special technique of per- tory information, as when making buy-
suasion used by salespeople to close ing decisions or comparing purchases
sales 쑗 The training manager demon- with the claims made for them in
strated some presentation and closing advertising
techniques. 쑗 Most of our sales force cognitive processing /
kɒ"ntv
develop their own selling methods, in- prəυsesŋ/ noun the way in which a
cluding closing techniques. person changes external information
closing time /kləυzŋ tam/ noun into patterns of thought and how these
the time when a shop or office stops are used to form judgments or choices
work cognitive responses /
kɒ"ntv r-
closure /kləυə/ noun the act of spɒnsz/ plural noun thoughts that
closing come to the mind of someone receiving
club /kl b/ noun a group of people a message when reading or viewing a
who have the same interest, or the place message
where these people meet 쑗 If you want COI abbr Central Office of Information
the managing director, you can phone cold /kəυld/ adjective without being
him at his club. 쑗 She has applied to prepared
join the sports club. ‘…the board is considering the introduction of a
set of common provisions on unsolicited calls to
cluster /kl stə/ noun a group of investors. The board is aiming to permit the cold
things or people taken together calling of customer agreements for the provision
cluster analysis /kl stər of services relating to listed securities. Cold
calling would be allowed when the investor is
ə
nləss/ noun a method whereby not a private investor’ [Accountancy]
samples are classified into groups ac-
cording to characteristics cold call /kəυld kɔl/ noun a tele-
phone call or sales visit where the sales-
cluster sampling /kl stə person has no appointment and the

sɑmplŋ/ noun sampling on the basis client is not an established customer
of well-defined groups 쑗 Cluster sam-
pling was used in the survey since there cold list /kəυld lst/ noun a list of
were several very distinct groups in the names and addresses of people who
population under study. have not been approached before by a
seller
clutter /kl tə/ noun masses of adver-
tising units shown together, so that any cold start /kəυld stɑt/ noun the act
single advertisement or commercial of beginning a new business or opening
tends to get lost a new shop with no previous turnover to
base it on
code /kəυd/ noun a system of signs, cold storage /kəυld stɔrd/ noun
numbers, or letters which mean
the keeping of food in a cold store to
something
prevent it or other goods from going bad
code of practice /
kəυd əv cold store /kəυld stɔ/ noun a ware-
prkts/ noun formally established house or room where food can be kept
ways in which members of a profession cold
agree to work 쑗 Advertisers have
agreed to abide by the code of practice collateral /kəlt(ə)rəl/ adjective,
set out by the advertising council. noun referring to security used to pro-
vide a guarantee for a loan
coefficient of correlation /kəυ- ‘…examiners have come to inspect the

fʃ(ə)nt əv kɒrəleʃ(ə)n/ noun a mea- collateral that thrifts may use in borrowing from
surement of correlation or relationship the Fed’ [Wall Street Journal]
collateral services 46 commercial aircraft

collateral services /kə
lt(ə)rəl combination rate /
kɒmbneʃ(ə)n

s&vsz/ plural noun agencies which ret/ noun a special rate or discount for
provide specialised services such as advertising in two or more magazines
package design, production of advertis- comeback /k mbk/ noun a means
ing material, or marketing research of getting compensation for a complaint
collect /kəlekt/ verb 1. to make or claim 쑗 If you throw away the till re-
someone pay money which is owed 왍 to ceipt you will have no comeback if the
collect a debt to go and make someone goods turn out to be faulty.
pay a debt 2. to take things away from a
place 쑗 We have to collect the stock comfortable belongers
from the warehouse. 쑗 Can you collect /
k mf(ə)təb(ə)l blɒŋəz/ plural noun
my letters from the typing pool? 왍 let- a large group of consumers who are
ters are collected twice a day the post conservative in outlook and happy with
office workers take them from the letter their existence
box to the post office for dispatch 쐽 ad- commando selling /kəmɑndəυ
verb, adjective referring to a phone call
selŋ/ noun hard intensive selling 쑗
which the person receiving the call Commando selling campaigns were
agrees to pay for started in all the new markets where the
collectibles /kəlektb(ə)lz/ plural company’s products were virtually un-
noun items which people collect, e.g. known. 쑗 Commando selling is needed
stamps, playing cards, matchboxes to obtain a reasonable market share in a
collecting agency /kəlektŋ market dominated by a powerful

edəns/ noun an agency which col- competitor.
lects money owed to other companies commerce /kɒm&s/ noun the buy-
for a commission ing and selling of goods and services
colour supplement /k lə commerce service provider

s plmənt/ noun a magazine which ac- /
kɒm&s s&vs prə
vadə/ noun an
companies a newspaper, usually with organisation that provides a service that
the weekend issue, printed in colour on helps companies with some aspect of
art paper, and containing a lot of adver- e-commerce, e.g., by acting as an
tising 쑗 The spring colour supplements Internet payment gateway
were mostly devoted to holiday advertis-
ing. 쑗 The clothing company bought ad- commercial /kəm&ʃ(ə)l/ adjective
1. referring to business 왍 ‘sample only
vertising space on three pages of the
colour supplement. – of no commercial value’ not worth
anything if sold 2. profitable 왍 not a
colour swatch /k lə swɒtʃ/ noun a commercial proposition not likely to
small sample of colour which the fin- make a profit 쐽 noun an advertisement
ished product must look like on television
colour theory /k lə
θəri/ noun ‘…commercial radio has never had it so good –
knowledge about colours and their psy- more stations, more listeners, and soaring
chological effect on prospective advertising revenue’ [Marketing Week]
customers commercial agent /kə
m&ʃ(ə)l
column /kɒləm/ noun a section of edənt/ noun a person or business
printed words in a newspaper or selling a company’s products or services
magazine for a commission 쑗 The commercial
column-centimetre /
kɒləm agent earned a 30% commission on
sentmitə/ noun the space in centi- sales he made. 쑗 As a commercial
metres in a newspaper column, used for agent, she represents several
calculating charges for advertising companies.
combination commercial commercial aircraft /kə
m&ʃ(ə)l
/
kɒmbneʃ(ə)n kə
m&ʃ(ə)l/ noun a eəkrɑft/ noun an aircraft used to carry
television advertisement which com- cargo or passengers for payment
bines still pictures with action shots
commercial artist 47 commitment

commercial artist /kə
m&ʃ(ə)l tee that rival products will not be adver-
ɑtst/ noun an artist who designs ad- tised directly before or after a particular
vertisements, posters, etc. for payment advertisement
commercial break /kə
m&ʃ(ə)l commercial radio /kə
m&ʃ(ə)l
brek/ noun the time set aside for com- rediəυ/, commercial TV /kə-
mercials on television 쑗 The advertiser
m&ʃ(ə)l tivi/ noun a radio or TV
wished to specify exactly when in the station which broadcasts advertise-
commercial break the advertisements ments, which help to pay for its pro-
were to appear. 쑗 The advertising man- gramming costs
ager placed one advertisement in each commercial services /kə
m&ʃ(ə)l
commercial break of the day on the ra- s&vsz/ plural noun services which
dio channel. support trade, e.g. banking and advertis-
commercial college /kəm&ʃ(ə)l ing 쑗 The recession has affected com-

kɒld/ noun a college which teaches mercial services and the industries they
business studies support and supply.
commercial counsellor /kə- commercial time /kəm&ʃ(ə)l

m&ʃ(ə)l kaυns(ə)lə/ noun a person tam/ noun the time that a television or
who advises on commercial matters in radio station devotes to advertising 쑗
an embassy 쑗 The commercial counsel- The TV station is extending its commer-
lor gave us sound advice on marketing cial time in order to increase revenue.
in the country he represented. commercial traveller /kə
m&ʃ(ə)l
commercial course /kəm&ʃ(ə)l trv(ə)lə/ noun a salesperson who
kɔs/ noun a course where business travels round an area visiting customers
skills are studied 쑗 He took a commer- on behalf of his or her company (NOTE:
cial course by correspondence. the modern term for a commercial trav-
eller is sales representative)
commercial district /kəm&ʃ(ə)l

dstrkt/ noun the part of a town where commercial value /kə
m&ʃ(ə)l
offices and shops are located vlju/ noun how much something is
worth if it is sold
commercialisation /kəm&ʃəla-
zeʃn/, commercialization noun the commission /kəmʃ(ə)n/ noun
act of making something into a business money paid to a salesperson or agent,
proposition 쑗 the commercialization of usually a percentage of the sales made 쑗
museums She gets 10% commission on everything
she sells. 왍 he charges 10% commis-
commercialise /kəm&ʃəlaz/,
sion he asks for 10% of sales as his
commercialize verb to make some-
payment
thing into a business 쑗 The holiday
town has become unpleasantly commission agent /kəmʃ(ə)n
commercialised.
edənt/ noun an agent who is paid a
percentage of sales
commercial law /kə
m&ʃ(ə)l lɔ/
noun the laws regarding business commission rebating /kəmʃ(ə)n

ribetŋ/ noun an advertising agency’s
commercial load /kəm&ʃ(ə)l ləυd/ discounting of invoices for media costs
noun the amount of goods or number of sent to clients, in effect taking them out
passengers which a bus, train, or plane of its own commission or profit margin
has to carry to make a profit
commission rep /kəmʃ(ə)n rep/
commercially /kəm&ʃ(ə)li/ adverb noun a representative who is not paid a
in a business way 왍 not commercially salary but receives a commission on
viable not likely to make a profit sales
commercial port /kəm&ʃ(ə)l pɔt/ commitment /kəmtmənt/ noun 1.
noun a port which has only goods traffic something which you have agreed to do
and no passengers 쑗 The company has a commitment to
commercial protection /kə- provide a cheap service. 2. money

m&ʃ(ə)l prətekʃən/ noun the guaran- which you have agreed to spend
commodity 48 communisuasion

commodity /kəmɒdt/ noun some- communication objectives /kə-

thing sold in very large quantities, espe-
mjunkeʃ(ə)n əb
dektvz/ plural
cially a raw material such as a metal and noun objectives that a company tries to
food such as wheat achieve through its advertising, e.g.
commodity exchange /kəmɒdti creating awareness, knowledge, images,
ks
tʃend/ noun a place where com- attitudes, preferences, or purchase
modities are bought and sold intentions
commodity futures /kə
mɒdti communications /kə
mjun-
fjutʃəz/ plural noun trading in com- keʃ(ə)nz/ plural noun 1. being able to
modities for delivery at a later date 쑗 contact people or to pass messages 쑗 Af-
Silver rose 5% on the commodity futures ter the flood all communications with
market yesterday. the outside world were broken. 2. sys-
commodity trader /kəmɒdti tems or technologies used for sending

tredə/ noun a person whose business and receiving messages, e.g. postal and
is buying and selling commodities telephone networks 3. messages sent
from one individual or organisation to
common /kɒmən/ adjective 1. which another
happens frequently 쑗 Unrealistic salary
expectations in younger staff was a communications channel /kə-
common problem they had to deal with.
mjunkeʃ(ə)nz
tʃn(ə)l/ noun a
2. belonging to several different people means of passing messages from one in-
or to everyone dividual or organisation to another
(NOTE: Communications channels
common carrier /
kɒmən kriə/
include the spoken, written, and
noun a firm which carries goods or pas-
printed word, and media such as
sengers, and which anyone can use
radio and television, telephones,
Common Market /kɒmən mɑkt/ video-conferencing and electronic
noun an association of nations who join mail.)
together in order to remove or reduce
the barriers to trade between them communication skills /kə
mjun-
keʃ(ə)n sklz/ plural noun the ability
common ownership /
kɒmən to pass information to others easily and
əυnəʃp/ noun a situation where a intelligibly
business is owned by the people who
work in it communications management
/kə
mjunkeʃ(ə)nz
mndmənt/
common pricing /
kɒmən prasŋ/
noun the managing of communications,
noun the illegal fixing of prices by sev-
so that advertising messages are sent ef-
eral businesses so that they all charge
ficiently to people who need to receive
the same price
them
common stock /
kɒmən stɒk/
noun US ordinary shares in a company, communications strategy /kə-
giving shareholders a right to vote at
mjunkeʃ(ə)nz
strtədi/ noun
meetings and to receive dividends planning the best way of communicat-
ing with potential customers
communication /kə
mjun-
keʃ(ə)n/ noun the passing on of views communication task /kə
mjun-
or information 쑗 A house journal was keʃ(ə)n tɑsk/ noun things that can be
started to improve communication be- attributed to advertising, e.g. awareness,
tween management and staff. 쑗 Cus- comprehension, conviction, and action,
tomers complained about the lack of following the DAGMAR approach to
communication about the unexpected setting advertising goals and objectives
delay. 왍 to enter into communication communisuasion /kə
mjun-
with someone to start discussing some- swe(ə)n/ noun US communication
thing with someone, usually in writing that is intended to persuade 쑗 The sales
쑗 We have entered into communication reps are being trained in the subtleties
with the relevant government of communisuasion.
department.
community 49 competition

community /kəmjunti/ noun a comparative analysis /kəm-

group of people living or working in the
prətv ənləss/ noun an analysis
same place of different media and vehicle options
community initiative /kə
mjunti by an advertiser 쑗 A tight advertising
nʃətv/ noun a particular scheme set budget made a thorough comparative
up by a business organisation with the analysis essential. 쑗 Comparative anal-
aim of making a positive contribution to ysis is difficult when the various media
the life of the community by helping lo- offer such different advantages.
cal people take practical action to solve comparative pricing /kəm
prətv
their problems prasŋ/ noun the indication of a price
community involvement /kə- by comparing it with another, e.g. ‘15%

mjunti nvɒlvmənt/ noun the con- reduction’
tribution that business organisations comparison /kəmprs(ə)n/ noun
make to the life of their local commu- the act of comparing one thing with an-
nity in the form of community initia- other 쑗 Sales are down in comparison
tives (NOTE: Community involvement with last year.
developed as a result of the growing
emphasis on the social responsibility
comparison-shop /kəmprs(ə)n
ʃɒp/ verb to compare prices and fea-
of business in the 1960s and 1970s
and often involves companies not only
tures of items for sale in different shops
giving money to finance local projects
to find the best deal
but also sending trained staff to help compete /kəmpit/ verb 왍 to com-
set them up.) pete with someone or with a company
Community legislation /kə- to try to do better than another person or

mjunti mnstəz/ noun directives another company 쑗 We have to compete
issued by the EU commission with cheap imports from the Far East. 쑗
They were competing unsuccessfully
Community ministers /kə- with local companies on their home ter-

mjunti nvɒlvmənt/ plural noun the ritory. 왍 the two companies are com-
ministers of member states of the EU peting for a market share or for a
company report /
k mp(ə)ni r- contract each company is trying to win
pɔt/ noun a document that sets out in a larger part of the market, trying to win
detail what a company has done and the contract
how well it has performed (NOTE: Com- competing /kəmpitŋ/ adjective
panies are legally required to write an- which competes 왍 competing firms
nual reports and financial reports and firms which compete with each other 왍
to submit them to the authorities in the competing products products from dif-
country where they are registered, but ferent companies which have the same
they may also produce other reports use and are sold in the same markets at
on specific subjects, for example, on similar prices
the environmental or social impact of a
project they are undertaking.) competition /
kɒmpətʃ(ə)n/ noun
1. the action of companies or individu-
comparative /kəmprətv/ adjec- als who are trying to do better than oth-
tive which can be compared with some- ers, to win a larger share of the market,
thing else to control the use of resources, etc. 왍
comparative advertising /kəm- keen competition strong competition 쑗

prətv dvətazŋ/ noun advertis- We are facing keen competition from
ing which compares a company’s prod- European manufacturers. 2. 왍 the com-
uct with competing brands to its own petition companies which are trying to
advantage 쑗 Disparaging remarks in compete with your product 쑗 We have
comparative advertising were strongly lowered our prices to beat the competi-
discouraged in the industry. 쑗 The com- tion. 쑗 The competition have brought
pany uses comparative advertising to out a new range of products.
highlight the advantages of its products.
competition-oriented pricing 50 competitive separation

‘…profit margins in the industries most exposed competitive edge /kəm
pettv

to foreign competition are worse than usual’
[Sunday Times]
ed/, competitive advantage /kəm-

pettv ədvɑntd/ noun an advan-
‘…competition is steadily increasing and could tage that one company or product has
affect profit margins as the company tries to over its rivals in the market 쑗 Any com-
retain its market share’ [Citizen (Ottawa)]
petitive edge we have in this market is
competition-oriented pricing due to our good after-sales service. 쑗
/kɒmpə
tʃ(ə)n
ɔrientd prasŋ/ Why does this product have the competi-
noun putting low prices on goods so as tive edge over its rivals?
to compete with other competing competitive forces /kəm
pettv
products fɔsz/ plural noun economic and busi-
competitions /
kɒmpətʃ(ə)nz/ plu- ness factors that force an organisation to
ral noun a sales promotion which en- become more competitive if wants to
ables consumers who can show that they survive and succeed
have bought a minimum number of pur- competitive intelligence /kəm-
chases to compete in a game 쑗 The com-
pettv nteldəns/ noun informa-
pany uses competitions to sell off an tion, especially information concerning
excess supply of tinned food. 쑗 Compe- the plans, activities, and products of its
titions involve prizes ranging from competitors, that an organisation gathers
washing-machines to holidays abroad. and analyses in order to make itself
쑗 Competitions and free gifts make up a more competitive (NOTE: Competitive
large part of the company’s sales intelligence may sometimes be gained
promotions. through industrial espionage.)
competitive /kəmpettv/ adjective competitively /kəmpettvli/ ad-
which competes fairly 왍 a competitive verb 왍 competitively priced sold at a
price a low price aimed to compete with low price which competes with the price
a rival product 왍 competitive products of similar products from other
products made to compete with existing companies
products competitiveness /kəmpettvnəs/
‘…the company blamed fiercely competitive noun being competitive
market conditions in Europe for a £14m ‘…farmers are increasingly worried by the
operating loss last year’ [Financial Times] growing lack of competitiveness for their
products on world markets’
competitive advantage /kəm- [Australian Financial Review]

pettv ədvɑntd/ noun a factor
competitiveness index /kəm-
that gives a special advantage to a na-
pettvnəs
ndeks/ noun a list of
tion, company, group, or individual
countries ranked in order of their com-
when it is competing with others
petitive performance
competitive analysis /kəm
pettv competitive parity /kəm
pettv
ənləss/ noun analysis for marketing prti/ noun a method of budgeting
purposes that can include industry, cus- marketing or promotional expenses ac-
tomer, and competitor analysis and aims cording to the amounts being spent by
to discover how competitive an organi- competitors
sation, project, or product is, especially
by evaluating the capabilities of key competitive pricing /kəm
pettv
competitors prasŋ/ noun putting low prices on
goods so as to compete with other
competitive check /kəm
pettv products
tʃek/ noun analysing rival advertising competitive separation /kəm-
levels and patterns, often conducted on
pettv sepəreʃ(ə)n/ noun a guaran-
the basis of data supplied by monitoring tee that rival products will not be adver-
organisations tised directly before or after a particular
competitive demand /kəm
pettv advertisement 쑗 If our advertising cam-
dmɑnd/ noun demand for products paign is to be really effective, we must
that are competing for sales insist on competitive separation.
competitor 51 computer

competitor /kəmpettə/ noun a per- der to function successfully (NOTE:

son or company which competes 쑗 Two Software companies, for example, are
German firms are our main competitors. complementors to computer compa-
‘…sterling labour costs continue to rise between nies.)
3% and 5% a year faster than in most of our
competitor countries’ [Sunday Times] Completely Knocked Down
competitor analysis /kəm
pettə products /kəm
plitli nɒkt daυn
prasz/ plural noun products which
ənləss/ noun the process of analys-
are sold in pieces, which the purchaser
ing information about competitors and
has to assemble, and are therefore sold
their products in order to build up a pic-
at reasonably low prices 쑗 Many
ture of where their strengths and weak-
low-income buyers buy CKD products.
nesses lie
쑗 CKD products are popular with DIY
competitor profiling /kəm
pettə enthusiasts. Abbr CKD products
prəυfalŋ/ noun same as competitor
analysis compliance documentation
/kəmplaəns dɒkjυmenteʃ(ə)n/
complaint /kəmplent/ noun a state- noun documents that a company has to
ment that you feel something is wrong 쑗 publish when it issues shares in order to
complaints from the workforce about comply with the regulations governing
conditions in the factory 쑗 When mak- share issues
ing a complaint, always quote the refer-
ence number. 쑗 She sent her letter of compliance officer /kəmplaəns
complaint to the managing director.
ɒfsə/ noun an employee of a financial
organisation whose job is to make sure
complaints department /kəm- that the organisation complies with the
plents d
pɑtmənt/ noun a depart- regulations governing its business
ment in a company or store to which
customers can send or bring complaints complimentary /
kɒmplment(ə)ri/
about its products or service adjective free
complaints management /kəm- complimentary ticket
plents
mndmənt/ noun the man- /
kɒmplment(ə)ri tkt/ noun a free
agement of complaints from customers ticket, given as a present
complementary /
kɒmpl- compliments slip /kɒmplmənts
ment(ə)ri/ adjective which adds to or slp/ noun a piece of paper with the
completes something else name of the company printed on it, sent
with documents or gifts etc. instead of a
complementary demand
letter
/
kɒmplment(ə)ri dmɑnd/ noun de-
mand for two or more products that are component /kəmpəυnənt/ noun a
needed together 쑗 The demand for cars piece of machinery or a part which will
and petrol was an example of comple- be put into a final product 쑗 The assem-
mentary demand. bly line stopped because the supply of a
complementary product vital component was delayed.
/
kɒmplment(ə)ri prɒd kt/ noun a components factory /kəm-
product for which demand is dependent pəυnənts
fkt(ə)ri/ noun a factory
on the demand for another product 쑗 which makes parts which are used in
When demand for our product fell, pro- other factories to make finished
ducers of complementary products also products
suffered. composite demand /kɒmpəzt d-
complementary supply
mɑnd/ noun the total demand for a
/
kɒmplment(ə)ri səpla/ noun the product that has many uses 쑗 Composite
supply of two or more products from the demand for the construction equipment
same production process came from construction companies and
complementor /kɒmplmentə/ DIY enthusiasts.
noun a company that makes some- computer /kəmpjutə/ noun an elec-
thing that your product needs in or- tronic machine which calculates or
computer bureau 52 concept

stores information and processes it computer run /kəmpjutə r n/

automatically noun a period of work done by a
computer bureau /kəmpjutə computer

bjυərəυ/ noun an office which offers computer services /kəmpjutə
to do work on its computers for compa-
s&vsz/ plural noun work using a
nies which do not own their own computer, done by a computer bureau
computers
computer system /kəmpjutə
computer department /kəm-
sstəm/ noun a set of programs, com-
pjutə d
pɑtmənt/ noun a depart- mands, etc. which run a computer
ment in a company which manages the
company’s computers computer telephony integration
/kəm
pjutə təlefəni nt"reʃ(ə)n/
computer error /kəm
pjutər erə/ noun a technology that links computers
noun a mistake made by a computer and telephones and enables computers
computer file /kəmpjutə fal/ to dial telephone numbers and send and
noun a section of information on a com- receive messages (NOTE: One product
puter, e.g. the payroll, list of addresses, of computer telephony integration is
or customer accounts calling line identification, which identi-
computer hardware /kəm
pjutə fies the telephone number a customer
hɑdweə/ noun machines used in data is calling from, searches the customer
processing, including the computers and database to identify the caller, and dis-
printers, but not the programs plays his or her account on a computer
computerise /kəmpjutəraz/, screen.)
computerize verb to change from a computer time /kəmpjutə tam/
manual system to one using computers noun the time when a computer is being
쑗 We have computerised all our re- used, paid for at an hourly rate
cords. 쑗 Stock control is now com- computing /kəmpjutŋ/ noun the
pletely computerised. operating of computers
computerised /kəmpjutərazd/, computing speed /kəmpjutŋ
computerized adjective worked by spid/ noun the speed at which a com-
computers 쑗 a computerised invoicing puter calculates
system 쑗 a computerised filing system
computer language /kəmpjutə concentrated marketing
/
kɒnsəntretd mɑkətŋ/, concen-

lŋ"wd/ noun a system of signs, let-
trated segmentation /
kɒnsəntretd
ters and words used to instruct a
computer
se"mənteʃ(ə)n/ noun niche market-
ing, the promotion of a product aimed at
computer listing /kəm
pjutə one particular area of the market 쑗
lstŋ/ noun a printout of a list of items When it became obvious that the gen-
taken from data stored in a computer eral public were interested in our prod-
computer magazine /kəmpjutə uct, we switched from concentrated
m"ə
zin/ noun a magazine with arti- marketing to a much broader approach.
cles on computers and programs 쏡 differentiated marketing strategy,
computer manager /kəmpjutə undifferentiated product

mndə/ noun a person in charge of a concentration /
kɒnsəntreʃ(ə)n/
computer department noun the degree to which a small num-
computer network /kəm
pjutə ber of businesses control a large section
netw&k/ noun a computer system of the market 쑗 Too much concentration
where several PCs are linked so that created resentment among small busi-
they all draw on the same database nesses trying to enter the market. 쑗
computer-readable /kəm
pjutə Concentration has meant too little com-
ridəb(ə)l/ adjective which can be read petition and therefore higher prices to
and understood by a computer 쑗 com- the consumer.
puter-readable codes concept /kɒnsept/ noun an idea
concept testing 53 confirmation

concept testing /kɒnsept
testŋ/ conditions of sale /kən
dʃ(ə)nz əv

noun the evaluation of a new product sel/ plural noun agreed ways in which
idea, usually by consulting representa- a sale takes place, e.g. discounts or
tives from all the main departments in a credit terms
company, and/or by interviewing a sam- conference /kɒnf(ə)rəns/ noun a
ple of consumers 쑗 The new product meeting of people to discuss problems 쑗
idea did not survive concept testing be- Many useful tips can be picked up at a
cause it didn’t answer an existing de- sales conference. 쑗 The conference of
mand. 쑗 After thorough concept testing HR managers included talks on payment
the idea of a disposable pen was re- and recruitment policies. 왍 to be in
jected as the company’s production ca- conference to be in a meeting
pacity was too limited.
conference call /kɒnf(ə)rəns kɔl/
concession /kənseʃ(ə)n/ noun 1. noun a telephone call that connects
the right to use someone else’s property three or more lines so that people in dif-
for business purposes 2. the right to be ferent places can talk to one another
the only seller of a product in a place 쑗 (NOTE: Conference calls reduce the
She runs a jewellery concession in a de- cost of meetings by making it unneces-
partment store. 3. allowing something sary for the participants to spend time
to be done, which is not normally done and money on getting together in one
쑗 The union obtained some important place.)
concessions from management during
negotiations. confidence /kɒnfd(ə)ns/ noun the
state of feeling sure or being certain 쑗
concessionaire /kən
seʃəneə/ The sales teams do not have much confi-
noun a person or business that has the dence in their manager. 쑗 The board
right to be the only seller of a product in has total confidence in the managing
a place director.
concession close /kənseʃ(ə)n confidence level /kɒnfd(ə)ns
kləυz/ noun the act of offering a con-
lev(ə)l/ noun a measurement, shown as
cession to a potential buyer in order to a percentage, of how reliable or accurate
close a sale 쑗 The trainee sales reps the results of a survey can be expected
were told to resort to concession closes to be
only when meeting with strong sales re-
sistance. 쑗 A full morning’s bargaining
confidentiality agreement
/
kɒnfdenʃilti ə
"rimənt/ noun
finally ended with a concession close.
an agreement in which an organisation
condition /kəndʃ(ə)n/ noun some- that has important information about
thing which has to be carried out as part the plans and activities of another
of a contract or which has to be agreed organisation promises not to pass that
before a contract becomes valid 왍 on information on to outsiders (NOTE:
condition that provided that 쑗 They Confidentiality agreements are often
were granted the lease on condition that used when someone is planning to
they paid the legal costs. buy a company and is given access
conditional /kəndʃ(ə)nl/ adjective to confidential information and in
provided that specific conditions are partnerships and benchmarking
taken into account 왍 to give a condi- programmes.)
tional acceptance to accept, provided confirm /kənf&m/ verb to say that
that specific things happen or that spe- something is certain 쑗 to confirm a ho-
cific terms apply 왍 the offer is condi- tel reservation or a ticket or an agree-
tional on the board’s acceptance the ment or a booking 왍 to confirm
offer is only valid provided the board someone in a job to say that someone is
accepts now permanently in the job
conditional offer /kən
dʃ(ə)nəl confirmation /
kɒnfəmeʃ(ə)n/
ɒfə/ noun an offer to buy, provided that noun 1. the act of making certain 왍 con-
specific terms apply firmation of a booking the act of
confirmed credit 54 consultancy

checking that a booking is certain 2. a manufacturers agree to repurchase any unsold

document which confirms something 쑗 goods, and in return dictate prices and sales
strategies and even dispatch staff to sell the
She received confirmation from the products’ [Nikkei Weekly]
bank that the deeds had been deposited.
consignment note /kənsanmənt
confirmed credit /kən
f&md nəυt/ noun a note saying that goods
kredt/ noun credit that is official and have been sent
binding consignor /kənsanə/ noun a person
confirming house /kənf&mŋ who consigns goods to someone
haυs/ noun an organisation that con- consolidate /kənsɒldet/ verb 1. to
firms a buyer’s order with a supplier and include the accounts of several subsid-
makes transport arrangements 쑗 A repu- iary companies as well as the holding
table confirming house acted for the company in a single set of accounts 2. to
buyers of the machinery. 쑗 We will need group goods together for shipping
a confirming house to arrange for a new
supply of office furniture to be delivered consolidated profit and loss ac-
to our shop by December. count /kən
sɒldetd
prɒft ən lɒs
ə
kaυnt/ noun profit and loss accounts
conflict of interest /
kɒnflkt əv of the holding company and its subsid-
ntrəst/ noun a situation where a per- iary companies, grouped together into a
son or firm may profit personally from single profit and loss account (NOTE:
decisions taken in an official capacity American English is profit and loss
conglomerate /kən"lɒmərət/ noun statement or income statement)
a group of subsidiary companies linked consolidated shipment /kən-
together and forming a group, each
sɒldetd ʃpmənt/ noun goods from
making very different types of products different companies grouped together
conjoint analysis /kən
dɔnt into a single shipment
ənləss/ noun a research method consolidation /kən
sɒldeʃ(ə)n/
aimed at discovering the best combina- noun the grouping together of goods for
tion of features for a product or service, shipping
e.g. price and size
consolidator /kənsɒldetə/ noun a
connectivity /
kɒnektvti/ noun firm which groups together orders from
the ability of an electronic product to different companies into one shipment
connect with other similar products, or
the extent to which individuals, compa- consortium /kənsɔtiəm/ noun a
nies and countries can connect with one group of companies which work to-
another electronically gether 쑗 A consortium of Canadian
companies or a Canadian consortium
consign /kənsan/ verb 왍 to consign has tendered for the job. (NOTE: plural is
goods to someone to send goods to consortia)
someone for them to use or to sell for ‘…the consortium was one of only four bidders
you for the £2 billion contract to run the lines, seen
as potentially the most difficult contract because
consignation /
kɒnsaneʃ(ə)n/ of the need for huge investment’ [Times]
noun the act of consigning
conspicuous consumption /kən-
consignee /
kɒnsani/ noun a per-
spkjuəs kəns mpʃən/ noun the
son who receives goods from someone consumption of goods for show or to get
for their own use or to sell for the sender approval, rather than because they are
consignment /kənsanmənt/ noun useful. 쒁 consumption
the sending of goods to someone who consult /kəns lt/ verb to ask an ex-
will sell them for you 왍 goods on con- pert for advice 쑗 We consulted our ac-
signment goods kept for another com- countant about our tax.
pany to be sold on their behalf for a
commission consultancy /kəns ltənsi/ noun the
‘…some of the most prominent stores are act of giving specialist advice 쑗 a con-
gradually moving away from the traditional sultancy firm 쑗 he offers a consultancy
consignment system, under which service
consultant 55 Consumer Protection Act, 1987

consultant /kəns ltənt/ noun a spe- washing machines, refrigerators, or

cialist who gives advice 쑗 an engineer- cookers
ing consultant 쑗 a management consumerism /kənsjuməzm/
consultant 쑗 a tax consultant noun the activities concerned with pro-
consulting /kəns ltŋ/ adjective tecting the rights and interests of
giving specialist advice 쑗 a consulting consumers
engineer consumer list /kənsjumə lst/
consumable goods/ kən- noun a list of individuals who can be

sjuməb(ə)l "υdz/, consumables mailed with details of a product or ser-
/kənsjuməb(ə)lz/ plural noun goods vice, e.g. from the electoral register
which are bought by members of the consumer magazine /kənsjumə
public and not by companies m"ə
zin/ noun a magazine published
consumer /kənsjumə/ noun a per- for consumers, giving details of product
son or company which buys and uses tests, special legal problems regarding
goods and services 쑗 Gas consumers services offered, etc.
are protesting at the increase in prices. consumer mailing list /kən-
쑗 The factory is a heavy consumer of
sjumə melŋ lst/ noun same as
water. consumer list
‘…forecasting consumer response is one
problem which will never be finally solved’ consumer market /kənsjumə
[Marketing Week]
mɑkt/ noun the customers who buy
‘…consumer tastes in the UK are becoming consumer goods 쑗 There is a growing
much more varied’ [Marketing] consumer market for construction mate-
‘…the marketing director’s brief will be to rials owing to the increased popularity
develop the holiday villages as a consumer of DIY. 쑗 Both consumer markets and
brand, aimed at the upper end of the tourist industrial markets have been affected by
market’ [Marketing Week] the recession.
consumer advertising /kən- consumer panel /kənsjumə
sjumə
dv&tazŋ/ noun advertis-
pn(ə)l/ noun a group of consumers
ing direct to individual consumers, as who report on products they have used
opposed to businesses so that the manufacturers can improve
consumer cooperative /kən- them or use what the panel says about

sjumə kəυɒp(ə)rətv/ noun a retail- them in advertising
ing business owned by consumers who Consumer Price Index /kən-
share in its profits
sjumə pras
ndeks/ noun an Amer-
consumer council /kən
sjumə ican index showing how prices of con-
kaυns(ə)l/ noun a group representing sumer goods have risen over a period of
the interests of consumers time, used as a way of measuring infla-
tion and the cost of living (NOTE: The
consumer credit /kən
sjumə
British equivalent is the Retail Prices
kredt/ noun the credit given by shops,
Index or RPI.)
banks and other financial institutions to
‘…analysis of the consumer price index for the
consumers so that they can buy goods first half of the year shows that the rate of
(NOTE: Lenders have to be licensed un- inflation went down by about 12.9 per cent’
der the Consumer Credit Act, 1974.) [Business Times (Lagos)]
Consumer Credit Act, 1974 /kən- consumer profile /kən
sjumə

sjumə kredt kt/ noun an Act of prəυfal/ noun a description of the rel-
Parliament which licenses lenders, and evant details of the average customer for
requires them to state clearly the full a product or service
terms of loans which they make, includ- Consumer Protection Act, 1987
ing the APR /kən
sjumə prətekʃən kt/ noun an
consumer durables /kən
sjumə Act of Parliament which bans the use of
djυərəb(ə)lz/ plural noun items which misleading information given to poten-
are bought and used by the public, e.g. tial purchasers to encourage them to buy
consumer research 56 contingent liability

consumer research /kənsjumə contain /kənten/ verb to hold some-

rs tʃ/ noun research into why con- thing inside 쑗 a barrel contains 250
sumers buy goods and what goods they litres 쑗 Each crate contains two com-
may want to buy puters and their peripherals. 쑗 We have
consumer resistance /kənsjumə lost a file containing important
rzstəns/ noun a lack of interest by documents.
consumers in buying a new product 쑗 container /kəntenə/ noun 1. a box,
The new product met no consumer resis- bottle, can, etc. which can hold goods 쑗
tance even though the price was high. The gas is shipped in strong metal con-
tainers. 쑗 The container burst during
Consumers Association shipping. 2. a very large metal case of a
/kənsjuməz əsəυsieiʃ(ə)n/ noun an
standard size for loading and transport-
independent organisation which protects ing goods on trucks, trains, and ships 쑗
consumers and represents their interests, to ship goods in containers 왍 a con-
and reports on the quality of products tainer-load of spare parts a shipment
and services in its regular magazine. of spare parts sent in a container
Abbr CA
containerisation /kəntenəra-
consumer society /kənsjumə sə- zeʃ(ə)n/, containerization noun the
saəti/ noun a type of society where act of shipping goods in containers
consumers are encouraged to buy goods
containerise /kəntenəraz/,
consumer sovereignty /kən- containerize verb to put or ship goods
sjumə sɒvrnti/ noun the power of in containers
consumers to influence trends in pro- content /kɒntent/ noun the text, il-
duction and marketing lustrations and graphics of a piece of
consumer spending /kənsjumə publicity
spendŋ/ noun spending by private content management /kɒntent
households on goods and services mndmənt/ noun the management
‘…companies selling in the UK market are of the textual and graphical material
worried about reduced consumer spending as a contained on a website (NOTE: Owners
consequence of higher interest rates and
inflation’ [Business] of large sites with thousands of pages
often invest in a content management
consumer’s surplus /kənsjuməz application system to help with the cre-
s pləs/ noun the difference between ation and organisation of the content of
what a consumer is willing to pay for these sites.)
something and what he or she actually contest /kɒntest/ noun a type of pro-
does pay for it 쑗 When the brand man- motion where prizes are given to people
ager realised how big the consumer’s who give the right answers to a series of
surplus was she decided to raise the questions
price of the product.
contested takeover /kəntestd
consumer survey /kənsjumə tekəυvə/ noun a takeover bid where
s ve/ noun a survey of existing and the board of the target company does
potential demand for a product not recommend it to the shareholders
consumer-to-consumer com- and tries to fight it (NOTE: also called a
merce /kənsjumə tə kənsjumə hostile bid)
kɒm s/ noun business, especially contingency plan /kəntndənsi
e-business, done by one individual with pln/ noun a plan which will be put
another and not involving any business into action if something happens which
organisation no one expects to happen
consumption /kənsmpʃən/ noun contingent liability /kəntndənt
the act of buying or using goods or ser- laəblti/ noun a liability which may
vices 쑗 a car with low petrol consump- or may not occur, but for which provi-
tion 쑗 The factory has a heavy sion is made in a company’s accounts,
consumption of coal. as opposed to ‘provisions’, where
continuity 57 contract manufacturing

money is set aside for an anticipated spare parts 쑗 to enter into a contract to
expenditure supply spare parts 쑗 to sign a contract
continuity /
kɒntnjuti/ noun the for £10,000 worth of spare parts 왍 to
act of maintaining a continuous stable put work out to contract to decide that
level of advertising activity 쑗 Continu- work should be done by another com-
ity must be the watchword of this pro- pany on a contract, rather than by em-
motional campaign to keep the product ploying members of staff to do it 왍 to
firmly in the minds of the target audi- award a contract to a company or to
ence. 쑗 Shall we aim for a sudden short place a contract with a company to
blast of advertising or should continuity decide that a company shall have the
be the essence of our strategy? contract to do work for you 왍 to tender
for a contract to put forward an esti-
continuity programme /
kɒnt- mate of cost for work under contract 쐽
njuti
prəυ"rm/ noun a marketing verb /kəntrkt/ to agree to do some
programme which offers a series of work on the basis of a legally binding
products which are sent to customers at contract 쑗 to contract to supply spare
regular intervals parts or to contract for the supply of
continuous /kəntnjυəs/ adjective spare parts 왍 the supply of spare parts
with no end or with no breaks 쑗 a con- was contracted out to Smith Ltd
tinuous production line Smith Ltd was given the contract for
continuous process production supplying spare parts 왍 to contract out
/kən
tnjυəs prəυses prə
d kʃən/ of an agreement to withdraw from an
noun automated production of many agreement with the written permission
identical products of the other party
continuous research /kən
tnjυəs contract carrier /kɒntrkt
kriə/
rs&tʃ/ noun regular ongoing market noun a carrier or transportation com-
research 쑗 Continuous research will tell pany which has special contracts with
us if sales are dropping off. businesses 쑗 a contract carrier which
contra /kɒntrə/ verb 왍 to contra an ships coffee beans from Brazil to coffee
entry to enter a similar amount in the wholesalers in Britain
opposite side of an account contract hire /kɒntrkt haə/ noun
contra account /kɒntrə ə
kaυnt/ a system that allows organisations to
noun an account which offsets another hire equipment that they need to use for
account, e.g. where a company’s sup- a long period, e.g. cars or office ma-
plier is not only a creditor in that com- chines, from other organisations instead
pany’s books but also a debtor because of buying it, on condition that they sign
it has purchased goods on credit a contract for the hire with owners
(NOTE: Contract hire agreements often
contraband /kɒntrəbnd/ noun include arrangements for maintenance
goods brought into a country illegally, and replacement.)
without paying customs duty
contracting company /kən-
contract noun /kɒntrkt/ 1. a legal
trktŋ k mp(ə)ni/ noun an inde-
agreement between two parties 쑗 to pendent broadcasting company that sells
draw up a contract 쑗 to draft a contract advertising time 쑗 With two new con-
쑗 to sign a contract 왍 the contract is
tracting companies being set up this
binding on both parties both parties year, advertisers will have more choice.
signing the contract must do what is
agreed 왍 under contract bound by the contracting party /kən
trktŋ
terms of a contract 쑗 The firm is under pɑti/ noun a person or company that
contract to deliver the goods by Novem- signs a contract
ber. 왍 to void a contract to make a con- contract manufacturing
tract invalid 2. 왍 by private contract /
kɒntrkt mnjυfktʃərŋ/ noun
by private legal agreement 3. an agree- an agreement which allows an overseas
ment for the supply of a service or manufacturer to manufacture or assem-
goods 쑗 a contract for the supply of ble your products in that country for sale
contract note 58 controllable variables

there 쑗 Under a contract manufacturing contribution margin /
kɒntr-

agreement a local company is making bjuʃ(ə)n
mɑdn/ noun the differ-
our cars in France. ence between the revenue generated by
contract note /kɒntrkt nəυt/ a product and its total variable costs
noun a note showing that shares have contribution of capital /kɒntr-
been bought or sold but not yet paid for,
bjuʃ(ə)n əv kpt(ə)l/ noun money
also including the commission paid to a company as additional capital
contractor /kəntrktə/ noun a per- contribution pricing /
kɒntr-
son or company that does work accord- bjuʃ(ə)n
prasŋ/ noun a pricing
ing to a written agreement method based on maximising the contri-
bution of each product to fixed costs
contractual /kəntrktʃuəl/ adjec-
tive according to a contract 왍 to fulfil contributor /kəntrbjυtə/ noun a
your contractual obligations to do person who gives money 왍 contributor
what you have agreed to do in a contract of capital person who contributes
capital
contractual liability /kən-

trktʃuəl
laəblti/ noun a legal re- control /kəntrəυl/ noun 1. the power
sponsibility for something as stated in a or ability to direct something 쑗 The
contract company is under the control of three
shareholders. 왍 to lose control of a
contractually /kəntrktjuəli/ ad- business to find that you have less than
verb according to a contract 쑗 The com-
50% of the shares in a company, and so
pany is contractually bound to pay our are not longer able to direct it 쑗 The
expenses. family lost control of its business. 2. re-
contractual obligation /kən- stricting or checking something or mak-

trktʃuəl ɒbl"eʃ(ə)n/ noun he has ing sure that something is kept in check
signed no agreement to buy 왍 under control kept in check 쑗 Ex-
contract work /kɒntrkt w&k/ penses are kept under tight control. 쑗
noun work done according to a written The company is trying to bring its over-
agreement heads back under control. 왍 out of con-
trol not kept in check 쑗 Costs have got
contra deal /kɒntrə
dil/ noun a out of control. 쐽 verb 1. 왍 to control a
deal between two businesses to ex- business to direct a business 쑗 The
change goods and services business is controlled by a company
contra entry /kɒntrə
entri/ noun based in Luxembourg. 쑗 The company
an entry made in the opposite side of an is controlled by the majority share-
account to make an earlier entry worth- holder. 2. to make sure that something
less, i.e. a debit against a credit is kept in check or is not allowed to de-
contribute /kəntrbjut/ verb to velop 쑗 The government is fighting to
give money or add to money 쑗 We control inflation or to control the rise in
agreed to contribute 10% of the profits. the cost of living. (NOTE: controlling –
쑗 They had contributed to the pension controlled)
fund for 10 years. control group /kəntrəυl "rup/
contribution /
kɒntrbjuʃ(ə)n/ noun a small group which is used to
noun something that is contributed check a sample group
contribution analysis /
kɒntr- controllable /kəntrəυləb(ə)l/ adjec-
bjuʃ(ə)n ə
nləss/ noun analysis of tive which can be controlled
how much each of a company’s prod- controllable variables /kən-
ucts contributes to fixed costs, based on
trəυləb(ə)l veəriəb(ə)lz/ plural noun
its profit margin and sales 쑗 Contribu- factors that can be controlled, e.g. a
tion analysis helps to streamline pro- company’s marketing mix 쑗 Because
duction and marketing. 쑗 Thorough there were so few controllable variables
contribution analysis led to six products the outcome of the marketing plan was
being dropped from the product range. very uncertain.
controlled 59 co-operation

controlled /kəntrəυld/ adjective ‘…the nation’s largest convenience store chain

has expanded the range of bills it takes
ruled or kept in check payments for to include gas and telephone
controlled circulation /kən
trəυld services’ [Nikkei Weekly]
s&kjυleʃ(ə)n/ noun distribution of a
publication to a specialist readership convenient /kənviniənt/ adjective
who are members of a particular organi- suitable or handy 쑗 A bank draft is a
sation or profession (often a free con- convenient way of sending money
trolled circulation, where the magazine abroad. 쑗 Is 9.30 a convenient time for
is distributed free to key executives, and the meeting?
is paid for by the advertisers) 쑗 The pro- conversion /kənv&ʃ(ə)n/ noun the
fessional institute publishes a quarterly action of converting a prospective cus-
magazine with a controlled circulation. tomer into an actual purchaser
쑗 The newspaper has a controlled cir-
conversion rate /kənv&ʃ(ə)n ret/
culation and is suitable for advertise-
noun the proportion of contacts, by
ments for highly specialised products.
mailing, advertising or email marketing,
controlled circulation magazine who actually end up purchasing the
/kən
trəυld s&kjυ
leʃ(ə)n m"ə- product or service
zin/ noun a magazine which is sent
free to a limited number of readers, and convertible currency /kən-
is paid for by the advertising it contains
v&təb(ə)l k rənsi/ noun a currency
which can easily be exchanged for
controlled economy /kən
trəυld another
kɒnəmi/ noun an economy where
most business activity is directed by or- cooling-off laws /
kulŋ ɒf lɔz/
ders from the government plural noun US state laws allowing
control question /kəntrəυl cancellation of an order within a spe-

kwestʃən/ noun a question in a ques- cific period after signing an agreement
쑗 Cooling-off laws are making buyers
tionnaire designed to check that answers
are consistent 쑗 A control question was less hesitant about placing large orders.
included to check that respondents were cooling-off period /
kulŋ
ɒf
not lying about their age. 쑗 If control
piriəd/ noun 1. during an industrial
questions show that answers are not dispute, a period when negotiations
honest, the interview is ended. have to be carried on and no action can
control systems /kəntrəυl be taken by either side 2. a period when

sstəmz/ plural noun the systems used a person is allowed to think about some-
to check that a computer system is thing which they have agreed to buy on
working correctly hire purchase and possibly change their
mind 쑗 New York has a three day cool-
convenience /kənviniəns/ noun 왍 ing-off period for telephone sales. 3. a
at your earliest convenience as soon as
period of ten days during which a per-
you find it possible
son who has signed a life assurance pol-
convenience food /kənviniəns icy may cancel it
fud/ noun food which is prepared by
the shop before it is sold, so that it needs co-op /kəυ ɒp/ noun same as
only heating to be made ready to eat cooperative
convenience goods /kənviniəns co-operate /kəυɒpəret/ verb to
"υdz/ plural noun ordinary everyday work together 쑗 The regional govern-
products that people have to buy but ments are co-operating in the fight
which command little or no brand loy- against piracy. 쑗 The two firms have
alty 쑗 Price competition is very fierce in co-operated on the computer project.
the convenience goods market. co-operation /kəυ
ɒpəreʃ(ə)n/
convenience store /kənviniəns noun the act of working together 쑗 The
stɔ/ noun a small store selling food or project was completed ahead of sched-
household goods, open until late at ule with the co-operation of the
night, or even 24 hours per day workforce.
cooperative 60 copy testing

cooperative /kəυɒp(ə)rətv/ adjec- copied the company report and took it

tive willing to work together 쑗 The home. (NOTE: copies- copying-
workforce has not been cooperative copied)
over the management’s productivity copy brief /kɒpi brif/ noun the in-
plan. 쐽 noun 1. a business run by a structions from an advertiser to a copy-
group of employees who are also the writer explaining the objectives of an
owners and who share the profits 쑗 The advertising campaign 쑗 The copy brief
product is marketed by an agricultural made it clear that the advertisements
cooperative. 쑗 They set up a workers’ were to be aimed at young people. 쑗
cooperative to run the factory. 2. a busi- The advertisers blamed the agency for
ness which organises cooperative mail- not paying enough attention to the copy
ing or advertising for different brief.
companies
copy clearance /kɒpi
klərəns/
cooperative advertising /kəυ- noun the passing of an advertiser’s copy

ɒp(ə)rətv dvə
tazŋ/ noun 1. the as neither misleading nor offensive 쑗 It
sharing by two companies, often a pro- is doubtful the advertisement will get
ducer and a distributor, of advertising copy clearance since it directly dispar-
costs 쑗 A cooperative advertising ages the competition. 쑗 The advertise-
agreement means that two companies ment has received copy clearance
can enjoy quantity discounts offered by because all its claims can be substanti-
the media. 2. mailing advertising mate- ated. 쑗 You will not get copy clearance
rial from different companies in the for this ad because the caption is sure to
same mailing pack offend a lot of women readers.
cooperative marketing /kəυ- copy date /kɒpi det/ noun the date

ɒp(ə)rətv mɑktŋ/ noun an ar- by which an advertisement must be de-
rangement whereby various producers livered to the media concerned 쑗 The
cooperate in the marketing of their prod- creative teams are working flat out be-
ucts or services 쑗 Cooperative market- cause the copy date is only one week
ing proved an economic method of away. 쑗 Let’s work on the advertise-
selling for companies with few financial ments with the earliest copy dates.
resources. copy fitting /kɒpi
ftŋ/ noun the
cooperative movement /kəυ- arrangement of advertising text so it fits
ɒp(ə)rətv
muvmənt/ noun a move- the space allowed for it
ment that encourages the setting-up of copying machine /kɒpiŋ mə
ʃin/
cooperative businesses that are jointly noun a machine which makes copies of
owned by their members who share the documents
profits and benefits they gain from trad-
ing amongst themselves (NOTE: The copy platform /kɒpi
pltfɔm/
movement was founded in Rochdale, noun the main theme of an advertise-
Lancashire in 1844 by 28 weavers ment’s copy 쑗 There is no point in dis-
and, in Britain, has launched not only a cussing details until we decide on a
chain of shops, but also manufacturing copy platform.
and wholesale businesses as well as copyright /kɒpirat/ noun 1. an au-
insurance and financial services.) thor’s legal right to publish his or her
own work and not to have it copied, last-
co-opetition /kəυ
ɒpətʃ(ə)n/ noun ing seventy years after the author’s
cooperation between competing
death 2. a similar right protecting logos,
companies
brand names, etc. 쐽 adjective covered
copier /kɒpə/ noun a machine by the laws of copyright 쑗 It is illegal to
which makes copies of documents photocopy a copyright work.
(NOTE: also called copying machine, copy testing /kɒpi
testŋ/ noun the
photocopier) act of testing the effectiveness of an ad-
copy /kɒp/ verb to make a second vertisement’s copy 쑗 Copy testing led to
document which is like the first 쑗 He the copywriter having to rethink the
copywriter 61 corporate hospitality

wording of the message. 쑗 Copy testing corner shop /kɔnə ʃɒp/ noun a
will tell us whether or not the advertise- small privately owned general store
ments are offensive to the public in corporate /kɔp(ə)rət/ adjective re-
general. ferring to a whole company
copywriter /kɒpiratə/ noun a per- ‘…the prime rate is the rate at which banks lend
son who writes advertisements to their top corporate borrowers’
[Wall Street Journal]
core /kɔ/ noun the central or main part ‘…if corporate forecasts are met, sales will
core activity /kɔr k
tvti/ noun exceed $50 million next year’
the central activity of a company, which [Citizen (Ottawa)]
is its basic product or service corporate advertising /
kɔp(ə)rət
core business /kɔ
bzns/ noun dvətazŋ/ noun the advertising of an
the most important work that an organi- organisation rather than a product 쑗 Our
sation does, that it is most expert at, that corporate advertising is designed to
makes it different from other organisa- present us as a caring organisation. 쑗
tions, that contributes most to its success No amount of corporate advertising will
and, usually, that it was originally set up ever persuade the consumer that the
to do (NOTE: The concept of core busi- company stands for quality.
ness became prominent in the 1980s corporate brand /
kɔp(ə)rət
when attempts at diversification by brnd/ noun the overall image that a
large companies proved less success- company presents to the outside world,
ful than expected.) or the image of it that exists in the minds
core capability /kɔr kepəblti/ of its customers, its employees and the
noun same as core competence public, that encapsulates what it does
core competence /kɔr and what it stands for
kɒmpt(ə)ns/ noun a skill or an area corporate communication
of expertise possessed by an organisa- /
kɔp(ə)rət kəmjunkeʃ(ə)n/ noun
tion that makes it particularly good at the activities undertaken by an organisa-
doing some things and makes an impor- tion to pass on information both to its
tant contribution to its success by giving own employees and to its existing and
it competitive advantage over other prospective customers and the general
organisations public
core product /kɔ prɒd kt/ noun 1. corporate culture /
kɔp(ə)rət
the main product which a company k ltʃə/ noun the often unspoken be-
makes or sells 2. a basic product, with- liefs and values that determine the way
out added benefits such as credit terms, an organisation does things, the atmo-
installation service, etc. sphere that exists within it and the way
core values /kɔ vljuz/ plural people who work for it behave (NOTE:
noun 1. the main commercial and moral The culture of an organisation is often
principles that influence the way an or- summed up as ‘the way we do things
ganisation is run and the way it conducts around here’.)
its business, and that are supposed to be corporate discount /
kɔp(ə)rət
shared by everyone in the organisation dskaυnt/ noun a reduction in advertis-
from senior management to ordinary ing charges calculated on the basis of
employees (NOTE: Core values are of- the total advertising revenue from all the
ten reflected in an organisation’s mis- brands of a company
sion statement.) 2. a set of concepts and corporate hospitality /
kɔp(ə)rət
ideals that guide a person’s life and help hɒsptlti/ noun entertainment pro-
him or her to make important decisions vided by an organisation, originally in-
corner /kɔnə/ verb 왍 to corner the tended to help salespeople build
market to own most or all of the supply relationships with customers, but now
of a commodity and so control the price increasingly used as an incentive for
쑗 The syndicate tried to corner the mar- staff and in team-building and training
ket in silver. exercises for employees
corporate identity 62 cost centre

corporate identity /
kɔp(ə)rət a- gains made by companies, calculated

dentti/ noun the way in which a cor- before dividends are paid. Abbr CT
poration is distinguished from others correlation /
kɒrəleʃ(ə)n/ noun the
corporate image /
kɔp(ə)rət degree to which there is a relationship
md/ noun an idea which a company between two sets of data 쑗 Is there any
would like the public to have of it correlation between people’s incomes
corporate name /
kɔp(ə)rət nem/ and the amount they spend on clothing?
쏡 coefficient of correlation, multiple
noun the name of a large corporation
correlation
corporate plan /
kɔp(ə)rət pln/
noun a plan for the future work of a cosmetic /kɒzmetk/ adjective re-
whole company ferring to the appearance of people or
things 쑗 We’ve made some cosmetic
corporate planning /
kɔp(ə)rət changes to our product line. 쑗 Pack-
plnŋ/ noun planning the future work aging has both practical as well as cos-
of a whole company metic importance.
corporate portal /
kɔp(ə)rət cost /kɒst/ noun the amount of money
pɔt(ə)l/ noun a main website that al- which has to be paid for something 쑗
lows access to all the information and What is the cost of a first class ticket to
software applications held by an organi- New York? 쑗 Computer costs are falling
sation and provides links to information each year. 쑗 We cannot afford the cost
from outside it (NOTE: A corporate por- of two cars. 왍 to cover costs to produce
tal is a development of intranet tech- enough money in sales to pay for the
nology and, ideally, should allow users costs of production 쑗 The sales revenue
to access groupware, email, and desk- barely covers the costs of advertising or
top applications, and to customise the the advertising costs. 왍 to sell at cost to
way information is presented and the sell at a price which is the same as the
way it is used.) cost of manufacture or the wholesale
corporate profits /
kɔp(ə)rət cost 쐽 verb 1. to have a price 쑗 How
prɒfts/ plural noun the profits of a much does the machine cost? 쑗 This
corporation cloth costs £10 a metre. 2. 왍 to cost a
‘…corporate profits for the first quarter showed product to calculate how much money
a 4 per cent drop from last year’ will be needed to make a product, and so
[Financial Times] work out its selling price
corporate strategy /
kɔp(ə)rət cost, insurance, and freight
strtədi/ noun the plans for future /
kɒst n
ʃυərəns ən fret/ noun the
action by a corporation estimate of a price, which includes the
corporate vision /
kɔp(ə)rət cost of the goods, the insurance, and the
v(ə)n/ noun the overall aim or pur- transport charges. Abbr CIF
pose of an organisation that all its busi- cost accountant /kɒst ə
kaυntənt/
ness activities are designed to help it noun an accountant who gives managers
achieve (NOTE: An organisation’s cor- information about their business costs
porate vision is usually summed up in cost accounting /kɒst ə
kaυntŋ/
its vision statement.) noun preparing special accounts of
corporation /
kɔpəreʃ(ə)n/ noun manufacturing and sales costs
1. a large company 2. US a company cost analysis /kɒst ə
nləss/
which is incorporated in the United noun calculating in advance what a new
States product will cost
corporation income tax cost-benefit analysis /kɒst
/
kɔpəreʃ(ə)n nk m tks/ noun a benft ə
nləss/ noun comparing the
tax on profits made by incorporated costs and benefits of different possible
companies ways of using available resources
corporation tax /
kɔpəreʃ(ə)n cost centre /kɒst
sentə/ noun 1. a
tks/ noun a tax on profits and capital person or group whose costs can be
cost-cutting 63 cost-plus pricing

itemised and to which costs can be allo- consumer price index, but includes other
cated in accounts 2. a unit, a process, or items such as the interest on mortgages.
an individual that provides a service
cost of sales /
kɒst əv selz/ noun
needed by another part of an organisa-
all the costs of a product sold, including
tion and whose cost is therefore ac-
manufacturing costs and the staff costs
cepted as an overhead of the business
of the production department, before
cost-cutting /kɒst
k tŋ/ noun re- general overheads are calculated
ducing costs 쑗 We have made three sec-
retaries redundant as part of our cost per acquisition /
kɒst pər
cost-cutting programme. 쑗 We have kwzʃ(ə)n/ noun the average cost
taken out the second telephone line as a for each acquisition of a new customer
cost-cutting exercise. in response to an advertisement. Abbr
CPA
cost driver /kɒst
dravə/ noun a
factor that determines how much it costs cost per click-through /
kɒst pə
to carry out a particular task or project, klk θru/ noun a method of pricing on-
e.g. the amount of resources needed for line advertising, based on the principle
it, or the activities involved in complet- that the seller gets paid whenever a visi-
ing it tor clicks on an advertisement
cost-effective /
kɒst fektv/ adjec- cost per customer /
kɒst pə
tive which gives good value when com- k stəmə/ noun a measure of
pared with the original cost 쑗 We find cost-effectiveness based on the cost per
advertising in the Sunday newspapers sale generated
very cost-effective. cost per inquiry /
kɒst pər n-
cost-effectiveness /
kɒst kwaəri/ noun the average cost for
fektvnəs/, cost efficiency /
kɒst each inquiry in response to an
fʃ(ə)nsi/ noun being cost-effective 쑗 advertisement
Can we calculate the cost-effectiveness cost per order /
kɒst pər ɔdə/
of air freight against shipping by sea? noun a measure used to determine the
cost factor /kɒst
fktə/ noun the number of orders generated compared to
problem of cost the cost of running the advertisement.
costing /kɒstŋ/ noun a calculation Abbr CPO
of the manufacturing costs, and so the cost per thousand /
kɒst pə
selling price of a product 쑗 The costings θaυz(ə)nd/, cost per mille /
kɒst pə
give us a retail price of $2.95. 쑗 We ml/ noun the cost of an advertisement,
cannot do the costing until we have de- calculated as the cost for every thousand
tails of all the production expenditure. people reached or the cost of a thousand
costly /kɒstl/ adjective costing a lot impressions for a website 쑗 This news-
of money, or costing too much money 쑗 paper has the highest cost per thousand
Defending the court case was a costly but a very high proportion of its readers
process. 쑗 The mistakes were fall within our target audience. Abbr
time-consuming and costly. CPT, CPM
cost of entry /
kɒst əv entri/ noun cost plus /kɒst pl s/ noun a system
the cost of going into a market for the of calculating a price, by taking the cost
first time of production of goods or services and
cost-of-living increase /
kɒst əv adding a percentage to cover the sup-
lvŋ
nkris/ noun an increase in sal- plier’s overheads and margin 쑗 We are
ary to allow it to keep up with the in- charging for the work on a cost plus
creased cost of living basis.
cost-of-living index /
kɒst əv cost-plus pricing /kɒst pl s
lvŋ
ndeks/ noun the way of mea-
prasŋ/ noun a pricing method that in-
suring the cost of living which is shown volves basing the price on the produc-
as a percentage increase on the figure tion costs and adding a percentage for
for the previous year. It is similar to the margin
cost price 64 course

cost price /kɒst pras/ noun a sell- for an order that was to have provided 8% of its
workload next year – was too late and too
ing price which is the same as the price, expensive’ [Wall Street Journal]
either the manufacturing price or the
wholesale price, which the seller paid counterpack /kaυntəpk/ noun a
for the item box for the display of goods for sale,
costs /kɒsts/ plural noun the expenses placed on the counter or on another flat
involved in a court case 쑗 The judge surface in a shop
awarded costs to the defendant. 쑗 Costs counter-programming /kaυntə
of the case will be borne by the
prəυ"rmŋ/ noun the presenting of
prosecution. TV programmes that are designed to ap-
cottage industry /
kɒtd ndəstr/ peal to the audience of competing
noun the production of goods or some programmes run during at the same time
other type of work, carried out by peo- countersign /kaυntəsan/ verb to
ple working in their own homes sign a document which has already been
counter /kaυntə/ noun a long flat signed by someone else 쑗 All our
surface in a shop for displaying and sell- cheques have to be countersigned by the
ing goods 왍 glove counter the section finance director. 쑗 The sales director
of a shop where gloves are sold 왍 goods countersigns all my orders.
sold over the counter retail sales of counter staff /kaυntə stɑf/ noun
goods in shops 쑗 Some drugs are sold sales staff who serve behind counters
over the counter, but others need to be country of origin /
k ntri əv
recommended by a doctor. 왍 under the ɒrdn/ noun a country where a prod-
counter illegally uct is manufactured or where a food
counter- /kaυntə/ prefix against product comes from 쑗 All produce must
counteradvertising /
kaυntər- be labelled to show the country of
dvətazŋ/ noun advertising aimed origin.
as a reply to a competitor’s coupon /kupɒn/ noun 1. a piece of
advertisements paper used in place of money 2. a piece
counter-argument /kaυntər of paper which replaces an order form

ɑ"jυmənt/ noun a response that is op- coupon ad /kupɒn d/ noun an ad-
posed to the position advocated in an vertisement with a form attached, which
advertising message you cut out and return to the advertiser
counterbid /kaυntəbd/ noun a with your name and address for further
higher bid in reply to a previous bid 쑗 information
When I bid £20 they put in a counterbid couponed /kupɒnd/ adjective with
of £25. a coupon attached 쑗 The agency is using
counter-jumper /kaυntə
d mpə/ couponed direct response advertising.
noun a person who sells goods over the couponing /kupɒnŋ/ noun a sell-
counter (informal ) 쑗 He was a coun-
. ing method using coupons delivered to
ter-jumper for many years before he be- homes, giving special discounts on
came a manager. 쑗 Five years as a some items
counter-jumper gave her plenty of expe- ‘…it employs selective mailings and package
rience of customer relations. inserts such as the couponed offers sent out with
credit card statements’ [PR Week]
countermand /
kaυntəmɑnd/ verb
to cancel an order course /kɔs/ noun a series of lessons
counter-offer /kaυntər
ɒfə/ noun a or programme of instruction 쑗 She has
higher or lower offer made in reply to finished her secretarial course. 쑗 Tthe
another offer 쑗 Smith Ltd made an offer company has paid for her to attend a
of £1m for the property, and Blacks re- course for trainee sales managers. 쑗
plied with a counter-offer of £1.4m. Management trainees all took a
‘…the company set about paring costs and six-month course in business studies. 쑗
improving the design of its product. It came up The training officer was constantly on
with a price cut of 14%, but its counter-offer – the lookout for new courses in manage-
courtesy 65 creativity

ment studies. 쑗 The company sent her crash-test /krʃ test/ verb to estab-
on a management course. lish the safety and reliability of some-
courtesy /k&təsi/ adjective supplied thing by testing it in different ways
free of charge 쑗 A courtesy sample is creaming /krimŋ/ noun the act of
sent with the sales literature. fixing a high price for a product in order
courtesy car /k&təsi kɑ/ noun the to achieve high short-term profits
use of a car offered free to a customer create /kriet/ verb to make some-
thing new 쑗 By acquiring small unprof-
cover /k və/ noun 1. coverage, the itable companies he soon created a
proportion of a target audience reached large manufacturing group. 쑗 The gov-
by advertising 2. one of the outside ernment scheme aims at creating new
pages of a publication. The four cover jobs for young people.
pages are front cover, inside front cover, ‘…he insisted that the tax advantages he
inside back cover and back cover. 쑗 We directed towards small businesses will help
could never afford to advertise on the create jobs and reduce the unemployment rate’
cover of this magazine. [Toronto Star]
coverage /k v(ə)rd/ noun the pro- creative adjective /krietv/ relating
portion of a target market that is reached to the conceptual or artistic side of ad-
by an advertisement 쑗 The advertise- vertising 쑗 There are three copywriters
ment itself was effective but it had very and four illustrators in the agency’s cre-
poor coverage. 쑗 We must consider ative department. 쑗 He has had good
both the cost of the advertisement and experience working on both the creative
its coverage before committing our- and the administrative sides of advertis-
selves any further. ing. 쐽 noun someone who works in the
‘…from a PR point of view it is easier to get conceptual or artistic side of a business
press coverage when you are selling an industry ‘…agencies are being called on to produce great
and not a brand’ [PR Week] creative work and at the same time deliver value
for money’ [Marketing Week]
cover charge /k və tʃɑd/ noun
(in restaurants) a charge for a place at creative director /kri
etv da-
the table in addition to the charge for rektə/ noun an employee of an adver-
food tising agency who is in overall charge of
finding the right words and images to
covered market /
k vəd mɑkt/ promote the product during an advertis-
noun a market which is held in a special ing campaign
building
creative selling /kri
etv selŋ/
covering letter /
k vərŋ letə/, noun a sales technique where the main
covering note /
k vərŋ nəυt/ noun a emphasis is on generating new business
letter sent with documents to say why
they are being sent
creative shop /kri
etv ʃɒp/,
creative boutique /kri
etv bu-
cover note /k və nəυt/ noun a let- tik/noun a highly specialised business
ter from an insurance company giving offering creative customer advertising
details of an insurance policy and con- services 쑗 A group of copywriters and
firming that the policy exists designers have left the agency to set
cover page /k və ped/ noun the their own creative shop. 쑗 The creative
front or back cover of a publication shop made short advertising films and
designed some press ads for us.
cover price /k və pras/ noun the
price of a newspaper or magazine which creative strategy /krietv
is printed on the cover and paid by the
strtədi/ noun a strategy to deter-
final purchaser mine what message an advertisement
will communicate
CPA abbr cost per acquisition
creative thinking /kri
etv θŋkŋ/
CPM abbr cost per mille noun same as creativity
CPO abbr cost per order creativity /
krietvti/ noun the
CPT abbr cost per thousand ability to generate new ideas, especially
credere 66 creditor

by taking a fresh and imaginative ap- creditworthiness of customers to show

proach to old problems or existing pro- whether they should be allowed credit
cedures (NOTE: Creativity is considered credit bank /kredt bŋk/ noun a
important not just in the development bank which lends money
of new products and services, but also
credit card /kredt kɑd/ noun a
in organisational decision-making and
plastic card which allows you to borrow
problem-solving, and many organisa-
money and to buy goods without paying
tions try to encourage it through their
for them immediately (you pay the
corporate culture and by using tech-
credit card company at a later date)
niques such as brainstorming and lat-
eral thinking.) credit card sale /kredt kɑd
sel/
noun the act of selling something for
credere /kredəri/ noun 쒁 del credit, using a credit card
credere agent
credit column /kredt
kɒləm/
credibility /
kredblti/ noun the noun the right-hand column in accounts
state of being trusted showing money received
credibility gap /
kredblti "p/ credit control /kredt kən
trəυl/
noun a discrepancy between claims for noun a check that customers pay on
a product made by the manufacturer and time and do not owe more than their
acceptance of these claims by the target credit limit
audience 쑗 The credibility gap that we credit entry /kredt
entri/ noun an
face is partly due to our product’s bad entry on the credit side of an account
performance record. 쏡 source
credit facilities /kredt fə
sltiz/
credibility
plural noun an arrangement with a bank
credit /kredt/ noun 1. the period of or supplier to have credit so as to buy
time allowed before a customer has to goods
pay a debt incurred for goods or services credit freeze /kredt friz/ noun a
쑗 to give someone six months’ credit 쑗 period when lending by banks is re-
to sell on good credit terms 왍 to open a stricted by the government
line of credit or a credit line to make
credit available to someone 왍 on credit credit history /kredt
hst(ə)ri/
without paying immediately 쑗 to live on noun a record of how a potential bor-
credit 쑗 We buy everything on sixty rower has repaid his or her previous
days credit. 쑗 The company exists on debts
credit from its suppliers. 2. an amount credit limit /kredt
lmt/ noun the
entered in accounts to show a decrease largest amount of money which a cus-
in assets or expenses or an increase in li- tomer can borrow
abilities, revenue or capital. In accounts, credit memorandum /kredt
credits are entered in the right-hand col-
memərndəm/, credit memo /-
umn. 쑗 to enter £100 to someone’s kredt
meməυ/ noun US a note show-
credit 쑗 to pay in £100 to the credit of ing that money is owed to a customer 쑗
Mr Smith Compare debit 왍 account in When the buyer paid too much money
credit an account where the credits are for the goods he was immediately sent a
higher than the debits 3. money set credit memorandum. 쑗 I hope we re-
against a client’s account because an ad- ceive a credit memo from the suppliers
vertisement was not run at the correct for the money they owe us.
time credit note /kredt nəυt/ noun a
credit account /kredt ə
kaυnt/ note showing that money is owed to a
noun an account which a customer has customer 쑗 The company sent the
with a shop which allows them to buy wrong order and so had to issue a credit
goods and pay for them later note. Abbr C/N
credit agency /kredt
edənsi/ creditor /kredtə/ noun a person or
noun a company which reports on the company that is owed money, i.e. a
company’s creditors are its liabilities
creditors’ meeting 67 cross-selling

creditors’ meeting /kredtəz critical mass /
krtk(ə)l ms/

mitŋ/ noun a meeting of all the peo- noun the point at which an organisation
ple to whom an insolvent company or a project is generating enough in-
owes money, to decide how to obtain come or has gained a large enough mar-
the money owed ket share to be able to survive on its own
credit rating agency /kredt or to be worth investing more money or
retŋ
edənsi/ noun US a company resources in
used by businesses and banks to assess critical path analysis /
krtk(ə)l
the creditworthiness of people pɑθ ə
nləss/ noun 1. analysis of the
credit-reference agency /kredt way a project is organised in terms of

ref(ə)rens
edənsi/ noun a company the minimum time it will take to com-
used by businesses and banks to assess plete, calculating which parts can be de-
the creditworthiness of people layed without holding up the rest of the
credits /kredts/ plural noun a list of project 2. same as critical-path
the names of people who have worked method
on a film, TV programme, etc. critical-path method /
krtk(ə)l
credit sale /kredt sel/ noun a sale pɑθ
meθəd/ noun a technique used in
where the purchaser will pay for the project management to identify the ac-
goods bought at a later date tivities within a project that are critical
to its success, usually by showing on a
credit scoring /kredt
skɔrŋ/ diagram or flow chart the order in which
noun a calculation made when assessing activities must be carried out so that the
the creditworthiness of someone or project can be completed in the shortest
something time and at the least cost
credit side /kredt sad/ noun the
right-hand column of accounts showing CRM abbr customer relations manage-
money received ment or customer relationship
management
credit system /kredt
sstəm/
noun the system that governs the way cross /krɒs/ verb 1. to go across 쑗
that loans are made to people and or- Concorde only takes three hours to
ganisations, especially the regulations cross the Atlantic. 쑗 To get to the bank,
that relate to loans and to organisations you turn left and cross the street at the
that provide loans post office. 2. 왍 to cross a cheque to
write two lines across a cheque to show
credit union /kredt
junjən/ noun that it has to be paid into a bank
a group of people who pay in regular de-
posits or subscriptions which earn inter- crossed cheque /
krɒst tʃek/ noun
est and are used to make loans to other a cheque with two lines across it show-
members of the group ing that it can only be deposited at a
creditworthiness /kredt- bank and not exchanged for cash

w&ðinəs/ noun the ability of a cus- cross elasticity of demand /
krɒs
tomer to pay for goods bought on credit l
ststi əv dmɑnd/ noun changes
creditworthy /kredtw&ði/ adjec- in demand for an item depending on the
tive having enough money to be able to selling price of a competing product
buy goods on credit 쑗 We will do some cross-media advertising /
krɒs
checks on her to see if she is midiə dvətazŋ/ noun advertising
creditworthy. the same product or service in several
crisis /krass/ noun a serious situa- different types of media which are of-
tion where decisions have to be taken fered by a single-company media
rapidly provider
crisis management /krass cross-selling /krɒs selŋ/ noun 1.

mndmənt/ noun management of a selling two products which go with each
business or a country’s economy during other, by placing them side by side in a
a period of crisis store 2. selling a new product which
cross-tracks 68 curriculum vitae

goes with another product a customer ‘…crude oil output plunged during the past
has already bought month and is likely to remain at its current level
for the near future’ [Wall Street Journal]
cross-tracks /krɒs trks/ noun a current account /k rənt ə
kaυnt/
poster site next to a railway track noun 1. an account in an bank from
CTM noun 쒁 click-through rate which the customer can withdraw
CTR abbr click through rate money when they want. Current ac-
counts do not always pay interest. 쑗 to
cume /kjum/ noun same as cumula- pay money into a current account
tive audience (informal ) .
(NOTE: American English is checking
cumulative /kjumjυlətv/ adjec- account) 2. an account of the balance
tive added to regularly over a period of of payments of a country relating to the
time sale or purchase of raw materials, goods
cumulative audience /- and invisibles

kjumjυlətv ɔdiəns/, cumulative ‘…customers’ current deposit and current
reach /
kjumjυlətv ritʃ/ noun the accounts also rose to $655.31 million at the end
of December’ [Hongkong Standard]
number of people reached by an adver-
‘…a surplus in the current account is of such
tisement at least once over a period of vital importance to economists and currency
time traders because the more Japanese goods that
cumulative interest /
kjumjυlətv are exported, the more dollars overseas
customers have to pay for these products. That
ntrəst/ noun the interest which is pushes up the value of the yen’ [Nikkei Weekly]
added to the capital each year
current assets /
k rənt sets/ plu-
cumulative quantity discount ral noun the assets used by a company
/
kjumjυlətv
kwɒntəti dskaυnt/ in its ordinary work, e.g. materials, fin-
noun a discount based on a quantity ished goods, cash, monies due, and
bought or the value of purchases over a which are held for a short time only
period of time 쑗 We have purchased
only from these suppliers over the last current cost accounting /
k rənt
few months in order to enjoy a cumula- kɒst ə
kaυntŋ/ noun a method of ac-
tive quantity discount. counting which notes the cost of replac-
ing assets at current prices, rather than
cumulative reach /
kjumjυlətv valuing assets at their original cost.
ritʃ/ noun same as cumulative Abbr CCA
audience
current liabilities /
k rənt
currency /k rəns/ noun money in laəbltiz/ plural noun the debts which
coins and notes which is used in a par- a company has to pay within the next
ticular country accounting period. In a company’s an-
‘…today’s wide daily variations in exchange nual accounts, these would be debts
rates show the instability of a system based on a
single currency, namely the dollar’ [Economist] which must be paid within the year and
are usually payments for goods or ser-
‘…the level of currency in circulation increased
to N4.9 billion in the month of August’ vices received.
[Business Times (Lagos)] current price /
k rənt pras/ noun
currency backing /k rənsi today’s price

bkŋ/ noun gold or government secu- current rate of exchange /
k rənt
rities which maintain the strength of a ret əv kstʃend/ noun today’s rate
currency of exchange
currency note /k rənsi nəυt/ noun current yield /
k rənt jild/ noun a
a bank note (NOTE: currency has no dividend calculated as a percentage of
plural when it refers to the money of the current price of a share on the stock
one country: he was arrested trying market
to take currency out of the country) curriculum vitae /kə
rkjυləm
current /k rənt/ adjective referring vita/ noun a summary of a person’s
to the present time 쑗 the current round work experience and qualifications sent
of wage negotiations to a prospective employer by someone
curve 69 customer service

applying for a job 쑗 Candidates should she needs from it and expects it to do
send a letter of application with a cur- (NOTE: Customer expectation can be
riculum vitae to the HR manager. 쑗 The created by previous experience, adver-
curriculum vitae listed all the candi- tising, what other people say about it,
date’s previous jobs and her reasons for awareness of competitors’ products,
leaving them. Abbr CV (NOTE: the plural and brand image. If customer expecta-
is curriculums or curricula vitae. tions are met, then customer satisfac-
American English is résumé) tion results.)
curve /k&v/ noun a line which is not customer flow /k stəmə fləυ/
straight, e.g. a line on a graph 쑗 The noun the number of customers in a store
graph shows an upward curve. and the pattern of their movements
custom /k stəm/ noun 1. the use of a round the store
shop by regular shoppers 왍 to lose customer focus /
k stəmə fəυkəs/
someone’s custom to do something noun the aiming of all marketing opera-
which makes a regular customer go to tions towards the customer
another shop 2. 왍 the customs of the customer loyalty /
k stəmə
trade the general way of working in a lɔəlti/ noun the feeling of customers
trade 쑗 It is the custom of the book trade who always shop at the same shop
to allow unlimited returns for credit. ‘…a difficult market to get into, China
custom-built /
k stəm blt/ adjec- nevertheless offers a high degree of customer
loyalty once successfully entered’ [Economist]
tive made specially for one customer 쑗
He drives a custom-built Rolls Royce. customer profile /
k stəmə
customer /k stəmə/ noun a person prəυfal/ noun a description of an av-
or company that buys goods 쑗 The shop erage customer for a product or service
쑗 The customer profile shows our aver-
was full of customers. 쑗 Can you serve
this customer first please? 쑗 She’s a age buyer to be male, aged 25–30, and
regular customer of ours. (NOTE: The employed in the service industries.
customer may not be the consumer or customer profitability /
k stəmə
end user of the product.)
prɒftəblti/ noun the amount of
‘…unless advertising and promotion is done in profit generated by each individual cus-
the context of an overall customer orientation, it tomer. Usually a small percentage of
cannot seriously be thought of as marketing’ customers generate the most profit.
[Quarterly Review of Marketing]
customer relations /
k stəmə r-
customer appeal /k stəmər ə
pil/ leʃ(ə)nz/ plural noun relations be-
noun what attracts customers to a tween a company and its customers
product
customer relations manage-
customer capital /
k stəmə ment /
k stəmə rleʃ(ə)nz
kpt(ə)l/ noun an organisation’s rela-
mndmənt/, customer relation-
tionships with its customers considered ship management /
k stəmə r-
as a business asset leʃ(ə)nʃp
mndmənt/ noun the
customer care /
k stəmə keə/ management of relations between a
noun looking after customers, so that company and its customers, keeping
they do not become dissatisfied them informed of new products or ser-
customer-centric model vices and dealing sympathetically with
/
k stəmə sentrk
mɒd(ə)l/ noun a their complaints or inquiries. Abbr CRM
business model that is based on an as- customer retention /
k stəmə r-
sessment of what the customer needs tenʃən/ noun same as retention
customer complaint /
k stəmə customer satisfaction /
k stəmə
kəmplent/ noun same as complaint
stsfkʃən/ noun the act of making
customer expectation /
k stəmər customers pleased with what they have
ekspekteʃ(ə)n/ noun the ideas and bought
feelings that a customer has about a customer service /
k stəmə
product or service, based on what he or s&vs/ noun a service given to custom-
customer service department 70 cybermarketing

ers once they have made their decision customs declaration /k stəmz
to buy, including delivery, after-sales deklə
reʃ(ə)n/ noun a statement show-
service, installation, training, etc. ing goods being imported on which duty
will have to be paid 쑗 to fill in a cus-
customer service department toms declaration form
/
k stəmə s&vs d
pɑtmənt/ noun
a department which deals with custom- customs entry point /
k stəmz
ers and their complaints and orders entri pɔnt/ noun a place at a border
between two countries where goods are
customisation /
k stəma- declared to customs
zeʃ(ə)n/, customization noun the
customs invoice /k stəmz
process of making changes to products

nvɔs/ noun a customs form contain-
or services that enable them to satisfy
ing a list of goods with their values in
the particular needs of individual
both the exporter’s and importer’s
customers
countries
customise /k stəmaz/, customize customs seal /k stəmz sil/ noun a
verb to change something to fit the spe- seal attached by a customs officer to a
cial needs of a customer 쑗 We use cus- box, to show that the contents have not
tomized computer terminals. passed through customs
customised service /
k stəmazd customs tariff /k stəmz
trf/
s&vs/ noun a service that is specifi- noun a list of taxes to be paid on im-
cally designed to satisfy the particular ported goods
needs of an individual customer customs warehouse /k stəmz
custom publisher /k stəm
weəhaυs/ noun a government-run

p blʃə/ noun a company which cre- warehouse where goods are stored until
ates a magazine for a company to use as duty is paid 쑗 The goods will remain in
publicity the customs warehouse until the buyer
customs /k stəmz/ plural noun the claims them.
government department which organises cut-off /k t ɒf/ noun the time after
the collection of taxes on imports, or an which a spot cannot be broadcast, usu-
office of this department at a port or air- ally late at night
port 쑗 He was stopped by customs. 쑗 cut-price /
k t pras/ adjective
Her car was searched by customs. 왍 to cheaper than usual
go through customs to pass through the cut-price store /
k t pras stɔ/
area of a port or airport where customs noun a store selling cut-price goods
officials examine goods 왍 to take some-
thing through customs to carry some- cut-throat competition /
k t θrəυt
thing illegal through a customs area kɒmpətʃ(ə)n/ noun sharp competition
without declaring it 왍 the crates had to which cuts prices and offers high
go through a customs examination the discounts
crates had to be examined by customs cutting /k tŋ/ noun a piece cut out
officials of a publication which refers to an item
of particular interest
customs broker /k stəmz

brəυkə/ noun a person or company that cutting-edge /
k tŋ ed/ adjective
takes goods through customs for a ship- using or involving the latest and most
ping company advanced techniques and technologies
customs clearance /k stəmz CV abbr curriculum vitae 쑗 Please ap-
ply in writing, enclosing a current CV.

klərəns/ noun 1. the act of passing
goods through customs so that they can cyber mall /sabəmɑll/ noun a
enter or leave the country 2. a document website that provides information and
given by customs to a shipper to show links for a number of online businesses
that customs duty has been paid and the cybermarketing /sabə
mɑktŋ/
goods can be shipped 쑗 to wait for cus- noun marketing that uses any kind of
toms clearance Internet-based promotion, e.g. targeted
cycle 71 cyclical factors

emails, bulletin boards, websites, or were used in the case study to show re-
sites from which the customer can cent developments in retailing.
download files cyclical /sklk(ə)l/ adjective which
cycle /sak(ə)l/ noun a set of events happens in cycles
which happen in a regularly repeated ‘…general retailers should in theory suffer from
sequence rising interest rates. And food retailers in
particular have cyclical exposure without price
cycle models /sak(ə)l
m d(ə)lz/ power’ [Investors Chronicle]
plural noun models which are used to cyclical factors /
sklk(ə)l fktəz/
explain cyclical change 쑗 Cycle models plural noun the way in which a trade cy-
cle affects businesses
DAGMAR 72 date coding

DAGMAR /d"mɑ/ noun a model database publishing /detəbes

showing stages in the effect of advertis-
p blʃŋ/ noun the publishing of infor-
ing on a consumer, e.g. awareness, com- mation selected from a database, either
prehension, conviction and action. Full on-line where the user pays for it on a
form defining advertising goals for per-page inspection basis or as a
measured advertising results CD-ROM
DAR abbr day after recall test data capture /detə
kptʃə/, data
entry /detə entri/ noun the act of
data /detə/ noun information avail- putting information onto a computer by
able on computer, e.g. letters or figures keyboarding or by scanning
쑗 All important data on employees was
fed into the computer. 쑗 To calculate data cleansing /detə
klenzŋ/,
the weekly wages, you need data on data cleaning /detə
klinŋ/ noun
hours worked and rates of pay. 왍 data checking data to make sure it is correct
bank or bank of data a store of infor- data mining /detə
manŋ/ noun
mation in a computer the use of advanced software to search
data acquisition /detə kw- online databases and identify statistical

zʃ(ə)n/ noun gathering information patterns or relationships in the data that
about a subject may be commercially useful
database /detəbes/ noun a set of data protection /detə prə
tekʃən/
noun making sure that computerised in-
data stored in an organised way in a
formation about people is not misused
computer system 쑗 We can extract the
lists of potential customers from our data sheet /detə ʃit/ noun a leaflet
database. with data or information about a product
database cleaning /detəbes data warehouse /detə
weəhaυs/

klinŋ/, database cleansing noun a large collection data that is col-
/detəbes
klenzŋ/ noun checking lected over a period of time from differ-
the details of a database to make sure ent sources and stored on a computer in
they are correct a standard format so that is easy to re-
trieve. It can be used, e.g., to support
database management system managerial decision-making. (NOTE: Or-
/
detəbes mndmənt
sstəm/ ganisations often use data ware-
noun a computer program that is spe- houses for marketing purposes, for
cially designed to organise and process example, in order to store and analyse
the information contained in a database customer information.)
database marketing /detəbes date /det/ noun the number of day,

mɑktŋ/ noun using a database to month and year 쑗 I have received your
market a product or service by building letter of yesterday’s date. 왍 date of re-
up a relationship with customers ceipt the date when something is
database modelling /detəbes received

mɒd(ə)lŋ/ noun using the information date coding /det
kəυdŋ/ noun the
from a database to create a website or to act of showing the date by which a prod-
forecast trends in a market uct should be consumed
date-in-charge 73 deaveraging

date-in-charge /
det n tʃɑd/ sales director set up a deal with a

noun the date from which a poster site is Russian bank. 쑗 The deal will be signed
charged 쑗 We will have three weeks of tomorrow. 쑗 They did a deal with an
exposure from the date-in-charge. American airline. 왍 to call off a deal to
day /de/ noun a period of 24 hours 쑗 stop an agreement 쑗 When the chairman
There are thirty days in June. 쑗 The first heard about the deal he called it off. 쐽
day of the month is a public holiday. 왍 verb 1. 왍 to deal with something to or-
days of grace the days allowed for pay- ganise something 쑗 Leave it to the filing
ment after it becomes due 쑗 Let’s send clerk – he’ll deal with it. 왍 to deal with
the cheque at once since we have only an order to work to supply an order 2.
five days of grace left. 쑗 Because the to buy and sell 왍 to deal with someone
shopowner has so little cash available, to do business with someone 왍 to deal
we will have to allow him additional in leather or options to buy and sell
days of grace. leather or options 왍 he deals on the
Stock Exchange his work involves buy-
day after recall test /
de ɑftə ing and selling shares on the Stock Ex-
rikɔl test/ noun an advertising re- change for clients
search test to see how much someone
can remember of an advertisement, the dealer /dilə/ noun a person who buys
day after it appeared or was broadcast. and sells 쑗 a used-car dealer
Abbr DAR dealer aids /dilə edz/ plural noun
daypart /depɑt/ noun a section of a types of advertising material used by
day, used for measuring audience rat- shops to stimulate sales
ings on TV dealer’s brand /diləz brnd/ noun
DBS abbr direct broadcast by satellite a brand owned by a distributor rather by
dead /ded/ adjective not working 왍 a producer 쑗 I bought the dealer’s
the line went dead the telephone line brand of soap since the store is well
suddenly stopped working known for its high quality goods.
dead account /ded əkaυnt/ noun dealership /diləʃp/ noun 1. the au-
an account which is no longer used thority to sell some products or services
dead freight /ded fret/ noun pay- 2. a business run by an authorised dealer
ment by a charterer for unfilled space in dealer tie-in /
dilə ta n/ noun ad-
a ship or plane 쑗 Too much dead freight vertising which includes the names of
is making it impossible for the company local dealers that stock the product be-
to continue to charter ships. ing advertised
deadline /dedlan/ noun the date by deal in /dil n/ noun sales promotion
which something has to be done 왍 to to the trade
meet a deadline to finish something in deal out /dil aυt/ noun sales promo-
time 왍 to miss a deadline to finish tion to consumers
something later than it was planned 쑗
We’ve missed our October 1st deadline. dear money /də
m ni/ noun
money which has to be borrowed at a
dead loss /ded lɒs/ noun a total loss high interest rate, and so restricts expen-
쑗 The car was written off as a dead loss. diture by companies
dead season /ded
siz(ə)n/ noun death duty /deθ
djuti/, death tax
the time of year when there are few /deθ tks/ noun US a tax paid on the
tourists about property left by a dead person (NOTE:
deadweight /dedwet/ noun heavy the British equivalent is inheritance
goods, e.g. coal, iron or sand tax)
deadweight cargo /
dedwet deaveraging /div(ə)rdŋ/ noun
kɑ"əυ/ noun a heavy cargo which is the act of treating customers in different
charged by weight, not by volume ways according to the amount they buy,
deal /dil/ noun a business agreement, by rewarding the best and penalising the
affair or contract 쑗 to sign a deal 쑗 The worst
debit 74 decision-making unit

debit /debt/ noun an amount entered debtor /detə/ noun a person who
in accounts which shows an increase in owes money
assets or expenses or a decrease in lia- ‘…the United States is now a debtor nation for
bilities, revenue or capital. In accounts, the first time since 1914, owing more to
debits are entered in the left-hand col- foreigners than it is owed itself’ [Economist]
umn. Compare credit 쐽 verb 왍 to debit debtor side /detə sad/ noun the
an account to charge an account with a debit side of an account
cost 쑗 His account was debited with the decentralise /disentrəlaz/, de-
sum of £25. centralize verb to move power or au-
debitable /debtəb(ə)l/ adjective thority or action from a central point to
which can be debited local areas
debit card /debt kɑd/ noun a plas- decentralised system /di-
tic card, similar to a credit card, but
sentrəlazd sstəm/noun a system
which debits the holder’s account im- where responsibility for marketing, ad-
mediately through an EPOS system vertising, and promotion lies with a
product manager rather than a central-
debit column /debt
kɒləm/ noun ised department
the left-hand column in accounts show-
ing the money paid or owed to others deception /dsepʃən/ noun telling a
lie in order to mislead a customer
debit entry /debt
entri/ noun an
entry on the debit side of an account decide /dsad/ verb to make up your
mind to do something 쑗 to decide on a
debit note /debt nəυt/ noun a note course of action 쑗 to decide to appoint a
showing that a customer owes money 쑗 new managing director
We undercharged Mr Smith and had to
send him a debit note for the extra decider /dsadə/ noun a person who
amount. makes decisions, especially the person
who makes the decision to buy
debits and credits /
debts ən
kredts/ plural noun money which a deciding factor /d
sadŋ fktə/
company owes and money it receives, noun the most important factor which
figures which are entered in the ac- influences a decision 쑗 A deciding fac-
counts to record increases or decreases tor in marketing our range of sports
in assets, expenses, liabilities, revenue goods in the country was the rising stan-
or capital dard of living there.
decimal system /desm(ə)l
debt /det/ noun money owed for goods
or services 쑗 The company stopped
sstəm/ noun a system of mathematics
trading with debts of over £1 million. 왍 based on the number 10
to be in debt to owe money 왍 he is in decision /ds(ə)n/ noun a choice
debt to the tune of £250,000 he owes made after thinking about what to do 쑗
£250,000 왍 to get into debt to start to It took the committee some time to come
borrow more money than you can pay to a decision or to reach a decision.
back 왍 the company is out of debt the decision-maker /ds(ə)n
mekə/
company does not owe money any more noun a person who takes decisions. 쏡
왍 to pay back a debt to pay all the marketmaker
money owed 왍 to pay off a debt to fin- decision-making /ds(ə)n
ish paying money owed 왍 to service a
mekŋ/ noun the act of coming to a
debt to pay interest on a debt 쑗 The decision
company is having problems in servic-
ing its debts. 왍 debts due money owed decision-making unit /ds(ə)n
which is due for repayment mekŋ
junt/ noun a group of people
who decide on the purchase of a prod-
debt collection /det kə
lekʃ(ə)n/ uct. For the purchase of a new piece of
noun collecting money which is owed equipment, they would be the manager,
debt collector /det kə
lektə/ noun a the financial controller and the operator
person who collects debts who will use the equipment. Abbr DMU
decision theory 75 deflation

decision theory /ds(ə)n
θəri/ defensive spending /d
fensv

noun the mathematical methods for spendŋ/ noun a budget strategy that
weighing the various factors in making promotes areas where sales are currently
decisions 쑗 In practice it is difficult to strong rather than potential areas where
apply decision theory to our planning. 쑗 sales could be made
Students study decision theory to help defer /df&/ verb to put back to a later
them suggest strategies in case-studies. date, or to postpone 쑗 We will have to
decision tree /ds(ə)n tri/ noun a defer payment until January. 쑗 The de-
model for decision-making, showing the cision has been deferred until the next
possible outcomes of different decisions meeting. (NOTE: deferring – deferred)
쑗 This computer programme incorpo- deferment /df&mənt/ noun the act
rates a decision tree. of leaving until a later date 쑗 deferment
deck /dek/ noun a flat floor in a ship of payment 쑗 deferment of a decision
deck cargo /dek
kɑ"əυ/ noun the deferred /df&d/ adjective put back
cargo carried on the open top deck of a to a later date
ship deferred creditor /d
f&d kredtə/
decline /dklan/ noun 1. a gradual noun a person who is owed money by a
fall 쑗 the decline in the value of the dol- bankrupt but who is paid only after all
lar 쑗 a decline in buying power 쑗 The other creditors
last year has seen a decline in real deferred payment /d
f&d
wages. 2. the final stage in the life cycle pemənt/ noun 1. money paid later
of a product when the sales and profit- than the agreed date 2. payment for
ability are falling off and the product is goods by instalments over a long period
no longer worth investing in 쐽 verb to deferred rebate /d
f&d ribet/
fall slowly or decrease 쑗 Shares de- noun a discount given to a customer
clined in a weak market. 쑗 New job ap- who buys up to a specified quantity over
plications have declined over the last a specified period
year. 쑗 The economy declined during
the last government. deferred stock /d
f&d stɒk/ noun
shares which receive a dividend after all
‘Saudi oil production has declined by three
quarters to around 2.5m barrels a day’
other dividends have been paid
[Economist] deficit /defst/ noun the amount by
‘…this gives an average monthly decline of 2.15 which spending is higher than income 왍
per cent during the period’ the accounts show a deficit the ac-
[Business Times (Lagos)] counts show a loss 왍 to make good a
‘…share prices disclosed a weak tendency right deficit to put money into an account to
from the onset of business and declined further, balance it
showing losses over a broad front’ [The Hindu]
deficit financing /defst
decode /dikəυd/ verb to translate
fannsŋ/ noun planning by a gov-
and interpret a coded message ernment to cover the shortfall between
deduplication /di
djuplkeʃ(ə)n/ tax income and expenditure by borrow-
noun removing duplicate entries from a ing money
database deflate /diflet/ verb 왍 to deflate the
deep-rooted demand /
dip rutd economy to reduce activity in the econ-
dmɑnd/ noun brand loyalty which omy by cutting the supply of money
survives even if the product no longer deflation /difleʃ(ə)n/ noun a gen-
offers value for money 쑗 There is eral reduction in economic activity as a
deep-rooted demand for this product result of a reduced supply of money and
which is a household name. credit, leading to lower prices 쑗 The oil
de facto standard /de
fktəυ crisis resulted in worldwide deflation.
‘…the reluctance of people to spend is one of
stndəd/ noun a standard set in a par- the main reasons behind 26 consecutive months
ticular market by a highly successful of price deflation, a key economic ill that has led
product or service to price wars, depressed the profit margins of
deflationary 76 delphi method

state enterprises and hit incomes among the a price which includes transport costs 왍
rural population’ [Financial Times] goods delivered on board goods trans-
deflationary /difleʃ(ə)n(ə)ri/ ad- ported free to the ship or plane but not to
jective which can cause deflation 쑗 The the customer’s warehouse
government has introduced some defla-
tionary measures in the budget. delivered price /dlvəd pras/
‘…the strong dollar’s deflationary impact on
noun a price which includes packing
European economies as national governments and transport
push up interest rates’ [Duns Business Month] delivery /dlv(ə)ri/ noun 1. the
delay /dle/ noun the time when transporting of goods to a customer 쑗
someone or something is later than allow 28 days for delivery 쑗 delivery is
planned 쑗 There was a delay of thirty not allowed for or is not included 쑗 par-
minutes before the AGM started or the cels awaiting delivery 쑗 free delivery or
AGM started after a thirty-minute delay. delivery free 쑗 a delivery date 쑗 deliv-
쑗 We are sorry for the delay in supply- ery within 28 days 쑗 We have a pallet of
ing your order or in replying to your let- parcels awaiting delivery. 왍 to take de-
ter. 쐽 verb to be late, or to make livery of goods to accept goods when
someone late 쑗 The company has de- they are delivered 쑗 We took delivery of
layed payment of all invoices. 쑗 She was the stock into our warehouse on the
delayed because her taxi was involved 25th. 2. goods being delivered 쑗 We
in an accident. take in three deliveries a day. 쑗 There
delayed response /d
led r- were four items missing in the last deliv-
spɒns/ noun a slower than expected re- ery. 3. the transfer of a bill of exchange
sponse by consumers to a company’s delivery note /dlv(ə)ri nəυt/ noun
promotion 쑗 If there is a delayed re- a list of goods being delivered, given to
sponse we will only reap the benefits the customer with the goods
next year. 쑗 A delayed response is not
delivery of goods /d
lv(ə)ri əv
usual in such a new product.
"υdz/ noun the transport of goods to a
del credere agent /del kredər customer’s address

edənt/ noun an agent who receives a
high commission because they guaran- delivery order /dlv(ə)ri
ɔdə/
tee payment by customers noun the instructions given by the cus-
tomer to the person holding her goods,
delegation /
del"eʃ(ə)n/ noun 1. a to tell her where and when to deliver
group of delegates 쑗 A Chinese trade them
delegation is visiting the UK. 쑗 The
management met a union delegation. 2. delivery receipt /dlv(ə)ri r
sit/
an act of passing authority or responsi- noun a delivery note when it has been
bility to someone else signed by the person receiving the
goods
delete /dlit/ verb to remove a prod-
uct from a company’s product range 쑗 delivery service /dlv(ə)ri
s&vs/
We have decided to delete three old noun the store will deliver goods to all
products as the new ones are coming on parts of the town
stream. delivery time /dlv(ə)ri tam/ noun
deletion /dliʃ(ə)n/ noun the act of the number of days before something
removing an old product from the mar- will be delivered
ket 쑗 The product has lost market share delivery van /dlv(ə)ri vn/ noun a
and is a candidate for deletion. van for delivering goods to customers
delight factor /dlat
fktə/ noun delphi method /delfa
meθəd/
the customer’s pleasure at making a noun a method of forming strategies by
purchase soliciting individual estimates on the
deliver /dlvə/ verb to transport time-scale of projected developments
goods to a customer 왍 goods delivered and then inviting further estimates on
free or free delivered goods goods the basis of all those already made until
transported to the customer’s address at a consensus is reached
demand 77 demonstration model

demand /dmɑnd/ noun 1. asking demand theory /dmɑnd
θəri/

for payment 왍 payable on demand noun a branch of economics concerned
which must be paid when payment is with consumer buying habits and factors
asked for 2. the requirement by a pro- which determine demand
spective purchaser for a commodity 쑗 demarketing /dimɑktŋ/ noun the
There was an active demand for oil act of attempting to reduce the demand
shares on the stock market. 왍 there is for a product 쑗 Demarketing was the
not much demand for this item not keynote in the industry when rationing
many people want to buy it 왍 this book was introduced.
is in great demand or there is a great
demand for this book many people demographic /
demə"rfk/ adjec-
want to buy it 왍 to meet/fill a demand tive referring to demography 쑗 A full
to supply what is needed 쑗 The factory demographic study of the country must
had to increase production to meet the be done before we decide how to export
extra demand. 쑗 The factory had to cut there.
production when demand slackened. 쑗 demographic edition /demə-
The office cleaning company cannot "rfk 
dʃ(ə)n/ noun a special edi-
keep up with the demand for its services. tion of a magazine targeted at a specific
쐽 verb to ask for something and expect demographic group
to get it 쑗 She demanded a refund. 쑗
The suppliers are demanding immediate demographics /
demə"rfks/ plu-
payment of their outstanding invoices. 쑗 ral noun the details of the population of
The shop stewards demanded an urgent a country, in particular its age and gen-
meeting with the managing director. der, which affect marketing
‘…spot prices are now relatively stable in the demographic segmentation
run-up to the winter’s peak demand’
[Economist]
/demə
"rfk se"menteʃ(ə)n/ noun
‘…the demand for the company’s products
the act of dividing a market up into seg-
remained strong throughout the first six months ments according to the age, sex, income
of the year with production and sales showing levels, etc. of the potential customers
significant increases’ [Business Times (Lagos)]
demography /dmɒ"rəfi/ noun a
‘…growth in demand is still coming from the
private rather than the public sector’ study of populations and population sta-
[Lloyd’s List] tistics such as age, sex, income and
demand bill /dmɑnd bl/ noun a education
bill of exchange which must be paid demonstrate /demənstret/ verb
when payment is asked for to show how something works 쑗 He
demand deposit /dmɑnd d- was demonstrating a new tractor

pɒzt/ noun US money in a deposit ac- when he was killed. 쑗 The managers
count which can be taken out when you saw the new stock-control system being
want it by writing a cheque demonstrated.
demand forecasting /dmɑnd demonstration /
demənstreʃ(ə)n/

fɔkɑstŋ/ noun estimating what de- noun an act of showing or explaining
mand would exist at various prices, used how something works 쑗 We went to a
as a method of calculating prices demonstration of new laser equipment.
demand-led inflation /d
mɑnd demonstration effect /
demən-
led nfleʃ(ə)n/ noun inflation caused streʃ(ə)n 
fekt/ noun the theory stat-
by rising demand which cannot be met ing that people buy products to impress
demand price /dmɑnd pras/ or keep up with their neighbours 쑗 The
noun the price at which a quantity of promotion of luxury goods is intended to
goods will be bought exploit the demonstration effect.
demand schedule /dmɑnd demonstration model /
demən-

ʃedul/ noun a table showing demand streʃ(ə)n
mɒd(ə)l/ noun a piece of
for a product or service at different equipment used in demonstrations and
prices later sold off cheaply
demonstrator 78 depression

demonstrator /demənstretə/ noun transport 쑗 a goods depot 쑗 an oil stor-

1. a person who demonstrates pieces of age depot 쑗 a freight depot 쑗 a bus
equipment 2. same as demonstration depot
model depreciate /dpriʃiet/ verb 1. to re-
demurrage /dm rd/ noun money duce the value of assets in accounts 쑗
paid to a customer when a shipment is We depreciate our company cars over
delayed at a port or by customs three years. 2. to lose value 쑗 a share
department /dpɑtmənt/ noun 1. a which has depreciated by 10% over the
specialised section of a large organisa- year 쑗 The pound has depreciated by
tion 쑗 Trainee managers work for a 5% against the dollar.
while in each department to get an idea ‘…this involved reinvesting funds on items
which could be depreciated against income for
of the organisation as a whole. 2. a sec- three years’ [Australian Financial Review]
tion of a large store selling one type of ‘…buildings are depreciated at two per cent per
product 쑗 You will find beds in the fur- annum on the estimated cost of construction’
niture department. [Hongkong Standard]
departmental manager ‘…the euro’s downward drift sparked alarmed
reactions from the European Central Bank
/
dipɑtment(ə)l mndə/ noun the which has seen the new currency depreciate by
manager of a department almost 15% since its launch’ [Times]
departmental system noun a way COMMENT: Various methods of depreci-
of organising an advertising agency into ating assets are used, such as the
departments such as creative, media, ad- ‘straight line method’, where the asset is
ministration, etc. depreciated at a constant percentage of
depend /dpend/ verb 1. 왍 to depend its cost each year and the ‘reducing bal-
ance method’, where the asset is depreci-
on to need someone or something to ex-
ated at a constant percentage which is
ist 쑗 The company depends on efficient applied to the cost of the asset after each
service from its suppliers. 쑗 We depend of the previous years’ depreciation has
on government grants to pay the salary been deducted.
bill. 2. to happen because of something
쑗 The success of the launch will depend
depreciation /d
priʃieʃ(ə)n/ noun
on the publicity campaign. 왍 depending 1. a reduction in value of an asset 2. a
on which varies according to something loss of value 쑗 a share which has shown
쑗 Depending on the advertising budget,
a depreciation of 10% over the year 쑗
the new product will be launched on ra- the depreciation of the pound against
dio or on TV. the dollar
dependent /dpendənt/ adjective depreciation rate /d
priʃieʃ(ə)n
supported financially by someone else 쑗 ret/ noun the rate at which an asset is
employees may be granted leave to care depreciated each year in the company
for dependent relatives accounts
dependent variable /d
pendənt depress /dpres/ verb to reduce 쑗
veəriəb(ə)l/ noun a variable or factor Reducing the money supply has the ef-
which changes as a result of a change in fect of depressing demand for consumer
another (the ‘independent variable’) 쑗 goods.
We are trying to understand the effects depressed /dprest/ adjective feel-
of several independent variables on one ing miserable and worried 쑗 She was
dependent variable, in this case, sales. depressed when she was not promoted.
deposit /dpɒzt/ noun money given depressed area /d
prest eəriə/
in advance so that the thing which you noun a part of a country suffering from
want to buy will not be sold to someone depression
else 쑗 to pay a deposit on a watch 쑗 to depressed market /d
prest
leave £10 as deposit mɑkt/ noun a market where there are
depot /depəυ/ noun a central ware- more goods than customers
house or storage area for goods, or a depression /dpreʃ(ə)n/ noun a pe-
place for keeping vehicles used for riod of economic crisis with high unem-
depth 79 desire to purchase

ployment and loss of trade 쑗 an design audit /dzan
ɔdt/ noun

economic depression 쑗 The country en- the checking and evaluating of design,
tered a period of economic depression. especially in advertising materials or on
depth /depθ/ noun the variety in a a website
product line design consultancy /dzan kən-
depth interview /depθ
ntəvju/
s ltənsi/ noun a firm which gives spe-
noun an interview with no preset ques- cialist advice on design
tions and following no fixed pattern, but design department /dzan d-
which can last a long time and allows
pɑtmənt/ noun the department in a
the respondent time to express personal large company which designs the com-
views and tastes 쑗 Depth interviews pany’s products or its advertising
elicited some very original points of designer /dzanə/ noun a person
view. who designs 쑗 She is the designer of the
deregulation /di
re"jυleʃ(ə)n/ new computer. 쐽 adjective expensive
noun the reduction of government con- and fashionable 쑗 designer jeans
trol over an industry 쑗 the deregulation
designer product /d
zanə
of the airlines
‘…after the slump in receipts last year that
prɒd kt/ noun a fashionable product
followed liner shipping deregulation in the US, created by a well-known designer 쑗 Re-
carriers are probably still losing money on their cent wealth in the cities has increased
transatlantic services. But with a possible the demand for designer products. 쑗
contraction in capacity and healthy trade Jeans and sportswear are only some of
growth, this year has begun in a much more
promising fashion than last’ [Lloyd’s List] our designer products.
derived demand /d
ravd d- design factor /dzan
fktə/ noun
mɑnd/ noun demand for a product be- the ratio of sampling error of a complex
cause it is needed to produce another sample or sample design to that of a
product which is in demand completely random sample
describe /dskrab/ verb to say what design for manufacturability /d-
someone or something is like 쑗 The
zan fə
mnjυfktʃərəblti/ noun
leaflet describes the services the com- the process of adapting the design of a
pany can offer. 쑗 The managing direc- product so that it fits as well as possible
tor described the difficulties the into the manufacturing system of an or-
company was having with cash flow. ganisation, thus reducing the problems
of bringing the product to market (NOTE:
description /dskrpʃən/ noun a de- The manufacturing issues that need to
tailed account of what something is like be taken into account in design for
왍 false description of contents the act manufacturability include selecting ap-
of wrongly stating the contents of a propriate materials, making the prod-
packet to trick customers into buying it uct easy to assemble and minimising
design /dzan/ noun 1. the planning the number of machine set-ups re-
or drawing of a product before it is built quired.)
or manufactured 2. the planning of the
visual aspect of an advertisement 쐽 verb design protection /dzan prə-
to plan or to draw something before it is
tekʃən/ noun making sure that a design
built or manufactured 쑗 He designed a is not copied by an unauthorised user
new car factory. 쑗 She designs garden design studio /dzan
stjudiəυ/
furniture. noun an independent firm which
designate /dez"net/ verb to iden- specialises in creating designs
tify something or someone in a particu- desire /dzaə/ noun the wish to do
lar way something
designated market area desire to purchase /d
zaə tə
/
dez"net mɑkt
eəriə/ noun p&tʃs/ noun the feeling of a customer
geographical areas used in measuring that he or she needs to purchase a prod-
the size of an audience. Abbr DMA uct. 쏡 AIDA
desk 80 differential advantage

desk /desk/ noun a writing table in an diagram /daə"rm/ noun a drawing

office, usually with drawers for statio- which presents information visually 쑗 a
nery 쑗 a desk diary 쑗 a desk drawer 쑗 a diagram showing sales locations 쑗 a di-
desk light agram of the company’s organisational
desk research /desk r
s&tʃ/ noun structure 쑗 The first diagram shows
looking for information which is in how our decision-making processes
printed sources such as directories work.
desk researcher /desk r
s&tʃə/ diagrammatic /
daə"rəmtk/ ad-
noun a person who carries out desk jective 왍 in diagrammatic form in the
research form of a diagram 쑗 The chart showed
the sales pattern in diagrammatic form.
devaluation /
divljueʃ(ə)n/
noun a reduction in value of a currency diagrammatically /
daə"rə-
against other currencies 쑗 the devalua- mtkli/ adverb using a diagram 쑗
tion of the rand The chart shows the sales pattern
diagrammatically.
devalue /divlju/ verb to reduce
the value of a currency against other dial /daəl/ verb to call a telephone
currencies 쑗 The pound has been deval- number on a telephone 쑗 to dial a num-
ued by 7%. ber 쑗 to dial the operator
develop /dveləp/ verb 1. to plan and dial-and-smile /
daəl ən smal/
produce 쑗 to develop a new product 2. verb to try to appear pleasant when
to plan and build an area 쑗 to develop cold-calling potential customers
an industrial estate diarise /daəraz/, diarize verb to en-
developed country /d
veləpt ter a date you have to remember in a
k ntri/ noun a country which has an diary
advanced manufacturing system diary /daəri/ noun a book in which
‘…developed countries would gain $135 billion you can write notes or appointments for
a year and developing countries, such as the each day of the week 쑗 She checked her
former centrally planned economies of Eastern engagements in her desk diary.
Europe, would gain $85 billion a year. The
study also notes that the poorest countries would diary method /daəri
meθəd/ noun
lose an annual $7 billion’ [Times] a market research method whereby re-
developing country /d
veləpŋ spondents keep a regular written ac-
k ntri/, developing nation /d- count of advertising noticed or

veləpŋ neʃ(ə)n/ noun a country purchases made or products used
which is not fully industrialised diary panel /daəri
pn(ə)l/ noun a
development /dveləpmənt/ noun group of people who are asked to keep
the planning of the production of a new notes of their purchases on a daily basis
product and constructing the first proto- dice /das/ verb to cut food into small
types 쑗 We spend a great deal on re- cubes
search and development. dichotomous question /da-
development cycle /dveləpmənt
kɒtəməs kwestʃən/ noun a question

sak(ə)l/ noun the various stages which in a questionnaire that can only be an-
are involved in the development of a swered by ‘yes’ or ‘no’
product from the initial concept to its differential /
dfərenʃəl/ adjective
manufacture and marketing which shows a difference 쐽 noun 왍 to
deviation /
divieʃ(ə)n/ noun a erode wage differentials to reduce dif-
change of route or strategy 쑗 Advertis- ferences in salary gradually
ing in the tabloids will mean a deviation differential advantage /
dfərenʃəl
from our normal marketing strategy. ədvɑntd/ noun an advantage that
diadic test /da
dk test/ noun a one product has over rival products in
product test in which respondents com- the market 쑗 We are confident that our
pare two products toothpaste has a differential advantage.
differential pricing 81 direct broadcast by satellite

differential pricing /
dfərenʃəl digital money /ddt(ə)l
m ni/

prasŋ/ noun giving different products noun a series of numbers that has a
in a range different prices so as to distin- value equivalent to a sum of money in a
guish them from each other physical currency
differential tariffs /
dfərenʃəl digital nervous system
trfs/ plural noun different tariffs for /
ddt(ə)l n&vəs
sstəm/ noun a
different classes of goods as, e.g., when digital information system containing
imports from certain countries are taxed accumulated knowledge that will enable
more heavily than similar imports from an organisation to respond speedily and
other countries effectively to external events
differentiated marketing strat- digital TV /
ddt(ə)l tivi/ noun
egy /dfə
renʃietd mɑktŋ TV where the picture has been changed

strtd/ noun a method of marketing into a form which a computer can
where the product is modified to suit process
each potential market. 쏡 concentrated digital wallet /
ddt(ə)l wɒlt/
marketing, undifferentiated product noun a piece of personalised software
differentiation /
dfərenʃieʃ(ə)n/ on the hard drive of a user’s computer
noun ensuring that a product has some that contains, in coded form, such items
unique features that distinguish it from as credit card information, digital cash,
competing products 쑗 We are adding a digital identity certificate, and stand-
some extra features to our watches in ardised shipping information, and can
the interest of product differentiation. 쑗 be used when paying for a transaction
The aim of differentiation should be to electronically
catch the customer’s eye. Dinkies /dŋkiz/ plural noun couples
diffusion /dfju(ə)n/ noun the pro- who are both wage-earners and have no
cess by which a product is gradually children (NOTE: short for Double In-
adopted by consumers come No Kids)
diffusion curve /dfju(ə)n k&v/ direct /darekt/ verb to manage or
noun the geographical representation of organise 쑗 He directs our South-East
how many consumers adopt a product at Asian operations. 쑗 She was directing
different times. 쏡 exponential the development unit until last year. 쐽
diffusion adjective straight or without interfer-
digital /ddt(ə)l/ adjective con- ence 쐽 adverb with no third party in-
verted into a form that can be processed volved 쑗 We pay income tax direct to
by computers and accurately reproduced the government. 왍 to dial direct to con-
digital cash /ddt(ə)l kʃ/ noun a tact a phone number yourself without
form of digital money that can be used asking the operator to do it for you 쑗
like physical cash to make online pur- You can dial New York direct from Lon-
chases and is anonymous because there don if you want.
is no way of obtaining information direct-action advertising /da-
about the buyer when it is used
rekt
kʃən dvətazŋ/ noun
digital colour proof /
ddt(ə)l advertising which aims to get a quick
k lə pruf/ noun a colour proof taken response 쑗 We’ll need some di-
from digital files prior to film output at rect-action advertising if we’re not to
high or low resolution fall behind our competitors this spring.
digital economy /
ddt(ə)l 쑗 Direct-action advertising will only
kɒnəmi/ noun an economy that is help us in the short term.
based on electronic commerce, e.g., direct-action marketing /da
rekt
trade on the Internet
kʃən maktŋ/ noun same as direct
digital goods /
ddt(ə)l "υdz/ response advertising
plural noun goods that are sold and de- direct broadcast by satellite /da-
livered electronically, usually over the
rekt
brɔdkɑst ba stəlat/ noun
Internet TV and radio signals broadcast over a
direct channel 82 directorship

wide area from an earth station via a sat- direct mail /da
rekt mel/ noun the
ellite, received with a dish aerial. Abbr practice of selling a product by sending
DBS publicity material to possible buyers
through the post 쑗 These calculators
direct channel /da
rekt tʃn(ə)l/ are only sold by direct mail. 쑗 The com-
noun a marketing channel where a pro-
pany runs a successful direct-mail
ducer and consumer deal directly with operation.
one another
‘…all of those who had used direct marketing
direct close /da
rekt kləυz/ noun techniques had used direct mail, 79% had used
the act of ending a sale by asking the some kind of telephone technique and 63% had
tried off-the-page selling’ [Precision marketing]
customer if they want to buy
direct demand /da
rekt dmɑnd/ direct-mail advertising /da
rekt
noun demand for a product or service mel dvətazŋ/ noun advertising by
for its own sake, and not for what can be sending leaflets to people through the
derived from it post
direct export /da
rekt ekspɔt/ direct mailing /da
rekt melŋ/
noun selling a product direct to the noun the sending of publicity material
overseas customer without going by post to possible buyers
through a middleman 쑗 Direct export is direct mail preference scheme
the only way to keep down the retail /da
rekt mel pref(ə)rəns skim/
price. 쑗 Our overseas marketing con- noun a scheme where an addressee can
sists mainly of direct export to German have his or her name removed from a
department stores. mailing list
direct headline /da
rekt hedlan/ direct marketing /da
rekt
noun an eye-catching headline that pres- mɑktŋ/ noun same as direct re-
ents its message directly to its target sponse advertising
audience ‘…after five years of explosive growth, fuelled
by the boom in financial services, the direct
direction /darekʃən/ noun 1. the marketing world is becoming a lot more
process of organising or managing 쑗 He competitive’ [Marketing Workshop]
took over the direction of a multina- ‘…direct marketing is all about targeting the
tional group. 2. 왍 directions for use in- audience, individualising the message and
structions showing how to use getting a response’ [PR Week]
something direct-marketing media /da
rekt
directional /darekʃən(ə)l/ adjective mɑktŋ
midiə/ plural noun media
pointing in a specific direction that are used for direct marketing, e.g.
directional medium /da-
direct mail, telemarketing, and TV

rekʃən(ə)l midiəm/ noun an adver- director /darektə/ noun 1. the per-
tising medium that tells potential cus- son appointed by the shareholders to
tomers where to find products or help run a company 2. the person who is
services, e.g. a directory in charge of a project, an official insti-
tute or other organisation 쑗 the director
directive interview /darektv of the government research institute 쑗
ntəvju/ noun an interview using pre-
She was appointed director of the trade
set questions and following a fixed
association.
pattern
‘…the research director will manage and direct
direct labour /da
rekt lebə/ noun a team of business analysts reporting on the
the cost of the workers employed which latest developments in retail distribution
throughout the UK’ [Times]
can be allocated to a product, not includ-
ing materials or overheads directorate /darekt(ə)rət/ noun a
directly /darektl/ adverb with no group of directors
third party involved 쑗 We deal directly directorship /darektəʃp/ noun the
with the manufacturer, without using a post of director 쑗 She was offered a di-
wholesaler. rectorship with Smith Ltd.
directors’ report 83 discrepancy

‘…what benefits does the executive derive from change to buy or sell bills of exchange
his directorship? In the first place compensation for less than the value written on them
has increased sharply in recent years’
[Duns Business Month] in order to cash them later
‘…banks refrained from quoting forward
directors’ report /da
rektəz r- US/Hongkong dollar exchange rates as
pɔt/ noun the annual report from the premiums of 100 points replaced the previous
board of directors to the shareholders day’s discounts of up to 50 points’
[South China Morning Post]
directory /darekt(ə)r/ noun a refer-
ence book containing information on discountable /dskaυntəb(ə)l/
companies and their products adjective which can be discounted 쑗
These bills are not discountable.
direct response advertising /da-

rekt rspɒns
dvətazŋ/ noun ad- discounted cash flow
vertising in such a way as to get custom- /
dskaυntd kʃ fləυ/ noun the cal-
ers to send in inquiries or orders directly culation of the forecast return on capital
by mail investment by discounting future cash
flows from the investment, usually at a
direct response agency /da
rekt rate equivalent to the company’s mini-
rspɒns
edənsi/ noun a company mum required rate of return. Abbr DCF
which provides direct marketing ser-
vices to its clients such as database man- discounted value /
dskaυntd
agement, direct mail, and response vlju/ noun the difference between
collecting the face value of a share and its lower
market price
direct response marketing /da-

rekt rspɒns
maktŋ/ noun same as discounter /dskaυntə/ noun a per-
direct response advertising son or company that discounts bills or
invoices, or sells goods at a discount
direct selling /da
rekt selŋ/ noun ‘…invoice discounting is an instant finance
selling a product direct to the customer raiser. Cash is advanced by a factor or
without going through a shop discounter against the value of invoices sent out
by the client company. Debt collection is still in
direct services /da
rekt s&vsz/ the hands of the client company, which also
plural noun personal services to the continues to run its own bought ledger’ [Times]
public, e.g. catering, dentistry or hair- ‘…a 100,000 square-foot warehouse generates
dressing 쑗 There is little manufacturing ten times the volume of a discount retailer; it can
industry in the area, and direct services turn its inventory over 18 times a year, more
than triple a big discounter’s turnover’
account for most of the wealth. [Duns Business Month]
dirty /d&ti/ adjective not clean discount house /dskaυnt haυs/
dirty bill of lading /
d&ti bl əv noun 1. a financial company which
ledŋ/, foul bill of lading /
faυl bl specialises in discounting bills 2. a shop
əv ledŋ/ noun a bill of lading stating which specialises in selling cheap goods
that the goods did not arrive on board in bought at a high discount
good condition discount price /dskaυnt pras/
disclosure of information /ds- noun the full price less a discount

kləυər əv nfəmeʃ(ə)n/ noun the discount rate /dskaυnt ret/ noun
passing on of information that was in- the percentage taken when a bank buys
tended to be kept secret or private to bills
someone else ‘…pressure on the Federal Reserve Board to
discount noun /dskaυnt/ the per- ease monetary policy and possibly cut its
centage by which the seller reduces the discount rate mounted yesterday’
[Financial Times]
full price for the buyer 쑗 to give a dis-
count on bulk purchases 왍 to sell goods discount store /dskaυnt stɔ/
at a discount or at a discount price to noun a shop which specialises in cheap
sell goods below the normal price 왍 goods bought at a high discount
10% discount for cash or 10% cash discrepancy /dskrepənsi/ noun a
discount you pay 10% less if you pay in lack of agreement between figures in in-
cash 쐽 verb 왍 to discount bills of ex- voices or accounts
discretion 84 dispenser

discretion /dskreʃ(ə)n/ noun being dishonour /dsɒnə/ verb (NOTE: the

able to decide correctly what should be American spelling is dishonor) 왍 to
done 왍 I leave it to your discretion I dishonour a bill not to pay a bill
leave it for you to decide what to do 왍 at dishonoured cheque /ds
ɒnəd
the discretion of someone according to tʃek/ noun a cheque which the bank
what someone decides 쑗 Membership is will not pay because there is not enough
at the discretion of the committee. money in the account to pay it
discretionary /dskreʃ(ə)n(ə)ri/ ad- disintegration /ds
nt"reʃ(ə)n/
jective which can be done if someone noun the decision to stop producing
wants 왍 the minister’s discretionary some goods or supplies and to buy them
powers powers which the minister in instead 쑗 Disintegration has meant
could use if they thought it necessary we now have to buy all of our plastic
discretionary income /d- parts. 쑗 Part of the company’s disinte-

skreʃ(ə)n(ə)ri nk m/ noun income gration policy involved selling off the
left after fixed payments have been factories.
made and whose spending is therefore disintermediation /ds
ntəmidi-
subject to advertising influence 쑗 Dis- eʃ(ə)n/ noun the removal of any inter-
cretionary incomes generally increase mediaries from a process so that, e.g.,
in a recession. manufacturers sell direct to consumers
discrimination /d
skrmneʃ(ə)n/ instead of selling their products through
noun treating people in different ways wholesalers and retailers
because of class, religion, race, lan-
disparage /dsprd/ verb to
guage, colour or sex
criticise
discrimination test /d
skrm-
neʃ(ə)n test/ noun a product test de- disparaging copy /ds
prədŋ
signed to show how one product differs kɒpi/ , knocking copy /nɒkŋ
kɒpi/
noun advertising copy which is critical
from another 쑗 The discrimination test
showed our product to be superior to of another company’s products 쑗 Their
that of our closest competitor. disparaging copy has given them a bad
name in the industry.
discussion board /dsk ʃ(ə)n
bɔd/, discussion group /dsk ʃ(ə)n dispatch /dsptʃ/ noun 1. the send-
"rup/ noun a group of people who dis- ing of goods to a customer 쑗 Production
cuss something by sending emails to the difficulties held up dispatch for several
group and where each member can re- weeks. 2. goods which have been sent 쑗
spond and see the responses of other The weekly dispatch went off yesterday.
쐽 verb to send goods to customers 쑗
members
The goods were dispatched last Friday.
discussion list /dsk ʃ(ə)n lst/
noun a list of addresses of members of a dispatch department /dsptʃ d-
discussion board
pɑtmənt/ noun the department which
deals with the packing and sending of
diseconomies of scale goods to customers
/ds
kɒnənmiz əv skel/ plural noun
a situation where increased production dispatcher /dsptʃə/ noun a per-
leads to a higher production cost per son who sends goods to customers
unit or average production cost dispatch note /dsptʃ nəυt/ noun
disequilibrium /
dsikwlbriəm/ a note saying that goods have been sent
noun an imbalance in the economy dispatch rider /dsptʃ
radə/
when supply does not equal demand noun a motorcyclist who delivers mes-
dishoarding /dshɔdŋ/ noun putt- sages or parcels in a town
ing goods back onto the market when dispenser /dspensə/ noun a ma-
they have been hoarded or stored for chine which automatically provides
some time something such as an object, a drink, or
an item of food, often when money is
dispersion 85 distribute

put in 쑗 an automatic dispenser 쑗 a to dispose of his business in the new

towel dispenser year.
dispersion /dsp&ʃ(ə)n/ noun the disrewarding /
dsrwɔdŋ/ noun
attempt by a distributor to distribute a the penalising of bad customers to allow
product to a market the company to give special terms to the
display /dsple/ noun the showing of best customers
goods for sale 쑗 an attractive display of dissonance/attribution model
kitchen equipment 쑗 The shop has sev- /
dsənəns
tr
bjuʃ(ə)n
mɒd(ə)l/
eral car models on display. 쐽 verb to noun a response model which follows
show 쑗 The company was displaying the opposite sequence from normal:
three new car models at the show. consumers first act in a specific way,
display advertisement /dsple then develop feelings as a result of their
əd
v&tsmənt/, display ad /dsple behaviour, and then look for informa-
d/ noun an advertisement which is tion that supports their attitude and
well designed or printed in bold type to behaviour
attract attention dissonance reduction /dsənəns
display advertising /dsple
r
d kʃən/ noun a reduction in worries

dvətazŋ/ noun advertising that has experienced by the purchaser after a
individual features such as photographs, product has been purchased, by increas-
ing their awareness of the positive fea-
its own box border or the company logo
tures of the product and reducing their
in addition to text
fears about its negative features. 쏡 cog-
display material /dsple mə- nitive dissonance

təriəl/ noun material used to attract at-
tention to goods which are for sale, e.g.
distance freight /dstəns fret/
noun freight charges based on the dis-
posters and photographs
tance over which the goods are
display outer /dsple
aυtə/ noun a transported
container for protecting goods in transit distinctive competence /d-
which can also be used as an attractive
stŋktv kɒmpt(ə)ns/ noun an ad-
display container for the goods in a shop vantage that one company or producer
display panel /dsple
pn(ə)l/ has over competitors in the market 쑗
noun a flat area for displaying goods in Our distinctive competence is a highly
a shop window professional sales force. 쑗 The company
disposable /dspəυzəb(ə)l/ adjec- could not survive with high costs and no
tive which can be used and then thrown distinctive competence.
away 쑗 The machine serves soup in dis- distress merchandise /dstres
posable paper cups.
m&tʃəndas/ noun US goods sold
disposable income /d- cheaply to pay a company’s debts

spəυzəb(ə)l nk m/, disposable distress sale /dstres sel/ noun a
personal income /d
spəυzəb(ə)l sale of goods at low prices to pay a com-

p&s(ə)nəl nk m/ noun the income pany’s debts
left after tax and national insurance have distress selling /dstres
selŋ/
been deducted noun the sale of goods cheaply in order
disposal /dspəυz(ə)l/ noun a sale 쑗 to pay off debts 쑗 Difficult circum-
disposal of securities or of property 쑗 stances forced the producers to resort to
The company has started a systematic distress selling.
disposal of its property portfolio. 왍 distribute /dstrbjut/ verb 1. to
lease for disposal or business for dis- share out dividends 쑗 Profits were dis-
posal a lease or business for sale tributed among the shareholders. 2. to
dispose /dspəυz/ verb 왍 to dispose send out goods from a manufacturer’s
of to get rid of or to sell cheaply 쑗 to warehouse to retail shops 쑗 Smith Ltd
dispose of excess stock 쑗 He is planning distributes for several smaller compa-
distribution 86 diversify

nies. 쑗 All orders are distributed from points or small warehouses from which
our warehouse near Oxford. goods are sent all over a country
distribution /
dstrbjuʃ(ə)n/ noun distribution resource planning
the act of sending goods from the manu- /dstr
bjuʃ(ə)n rsɔs
plnŋ/ noun
facturer to the wholesaler and then to re- planning, especially using a computer-
tailers 쑗 Stock is held in a distribution ised system, that is intended to ensure
centre which deals with all order pro- the most efficient use of the resources
cessing. 쑗 Distribution costs have risen used in distributing goods (NOTE: Effec-
sharply over the last 18 months. 쑗 She tive distribution resource planning inte-
has several years’ experience as distri- grates distribution with manufacturing
bution manager. and synchronises supply and demand
‘British distribution companies are poised to
by identifying requirements for finished
capture a major share of the European market’ goods and by producing schedules for
[Management News] the movement of goods along the dis-
tribution chain so that they reach the
distribution census /
dstr- customer as soon as possible.)
bjuʃ(ə)n
sensəs/ noun official statis-
tics regarding the number of distributors distributive /dstrbjυtv/ adjective
and their businesses 쑗 Using the distri- referring to distribution
bution census, we drew up a list of distributive trades /dstrbjυtv
wholesalers who were worth
tredz/ plural noun all business in-
approaching. volved in the distribution of goods
distribution centre /
dstr- distributor /dstrbjυtə/ noun a
bjuʃ(ə)n
sentə/ noun a place where company which sells goods for another
goods are collected and stored tempo- company which makes them 왍 a net-
rarily but whose main function is to work of distributors a series of distrib-
send them on to wholesalers, retailers, utors spread all over a country
or consumers distributor’s brand /dstrbjυtəz
brnd/ noun goods specially packed
distribution channel /
dstr-
for a store with the store’s name printed
bjuʃ(ə)n
tʃn(ə)l/ noun the route by
on them 쑗 I bought the distributor’s
which a product or service reaches a
brand of soap because it was the
customer after it leaves the producer or
cheapest.
supplier (NOTE: A distribution channel
usually consists of a chain of interme- distributorship /dstrbjυtəʃp/
diaries, for example wholesalers and noun the position of being a distributor
retailers, that is designed to move for a company
goods from the point of production to distributor support /d
strbjυtə
the point of consumption in the most səpɔt/ noun the action of a supplier of
efficient way.) a product or service in providing help to
‘…there is evidence that distribution channels distributors, by offering training, pro-
are supply driven’ motional material, etc.
[Quarterly Review of Marketing]
divergent marketing /da
v&dənt
distribution management /
dstr- mɑktŋ/ noun a separate marketing
bjuʃ(ə)n
mndmənt/ noun the treatment for each of a company’s prod-
management of the efficient transfer of ucts 쑗 Divergent marketing is giving
goods from the place where they are way to a more coordinated and inte-
manufactured to the place where they grated marketing effort.
are sold or used (NOTE: Distribution diversification /da
v&sf-
management involves such activities keʃ(ə)n/ noun the process of adding
as warehousing, materials handling, another quite different type of business
packaging, stock control, order pro- to a firm’s existing trade
cessing, and transport.) diversify /dav&sfa/ verb 1. to add
distribution network /
dstr- new types of business to existing ones 쑗
bjuʃ(ə)n
netw&k/ noun a series of The company is planning to diversify
divert 87 domestic market

into new products. 2. to invest in differ- ments against presentation

ent types of shares or savings so as to /
dɒkjυmənts ə"enst prez(ə)n-
spread the risk of loss teʃ(ə)n/ noun an arrangement
divert /dav&t/ verb 1. to send to whereby a buyer receives documents for
another place or in another direction 2. the goods on payment of a bill of
to buy stock in a special offer and then exchange
sell it on to customers living outside the dog /dɒ"/ noun a product that has a
special-offer area low market share and a low growth rate,
divestment /davestmənt/ noun the and so is likely to be dropped from the
dropping or sale of a whole product line, company’s product line
to allow the company to concentrate on
dog-eat-dog /
dɒ" it dɒ"/ noun
other products
marketing activity where everyone
division /dv(ə)n/ noun 1. the main fights for their own product and attacks
section of a large company 쑗 the mar- competitors mercilessly (informal ).

keting division 쑗 the production divi-

sion 쑗 the retail division 쑗 the hotel do-it-yourself /
du t jəself/
division of the leisure group 2. a com- adjective done by an ordinary person,
pany which is part of a large group 쑗 not by a skilled worker. Abbr DIY
Smith’s is now a division of the Brown do-it-yourself conveyancing
group of companies. /
du t jəself kənveənsŋ/ noun the
divisional /dv(ə)n(ə)l/ adjective drawing up of a legal conveyance by the
referring to a division 쑗 a divisional di- person selling a property, without the
rector 쑗 the divisional headquarters help of a lawyer
DM abbr direct marketing do-it-yourself magazine /
du t
DMA abbr designated market area jəself m"əzin/ noun a magazine
with articles on work which the average
DMU abbr decision-making unit person can do to repair or paint his or
document /dɒkjυmənt/ noun a pa- her house
per, especially an official paper, with
written information on it 쑗 He left a file do-it-yourself store /
du t jəself
of documents in the taxi. 쑗 She asked to stɔ/ noun a large store specialising in
see the documents relating to the case. selling materials for the repair and im-
provement of houses, for gardening and
documentary /
dɒkjυment(ə)ri/ for light car maintenance
adjective in the form of documents 쑗
documentary evidence 쑗 documentary domestic /dəmestk/ adjective 1. re-
proof 쐽 noun a film concerning actual ferring to the home market or the market
facts or real events of the country where the business is sit-
uated 쑗 Domestic sales have increased
documentation /
dɒkjυmen-
over the last six months. 2. for use in the
teʃ(ə)n/ noun all documents referring
home 쑗 Glue which is intended for both
to something 쑗 Please send me the com-
domestic and industrial use.
plete documentation concerning the
sale. domestic appliances /də
mestk
document of title /
dɒkjυmənt əv əplaənsz/plural noun electrical ma-
tat(ə)l/ noun a document allowing the chines which are used in the home, e.g.
holder to handle goods as if they own washing machines
them domestic consumption /də-
documents against acceptance
mestk kəns mpʃən/ noun use in the
/
dɒkjυmənts ə"enst əkseptəns/ home country 쑗 Domestic consumption
noun an arrangement whereby a buyer of oil has fallen sharply.
receives documents for the goods on domestic market /də
mestk
their acceptance of a bill of exchange mɑkt/ noun the market in the country
documents against cash where a company is based 쑗 They pro-
/
dɒkjυmənts ə"enst kʃ/, docu- duce goods for the domestic market.
domestic production 88 draft

domestic production /də
mestk double column /
d b(ə)l kɒləm/

prəd kʃən/ noun the production of noun two columns spanned by an
goods for use in the home country advertisement
door /dɔ/ noun the piece of wood, double crown /
d b(ə)l kraυn/
metal, or other material which closes the noun a basic poster size, 30 inches deep
entrance to a building or room 쑗 The fi- by 20 inches wide
nance director knocked on the chair- double-decker /
d b(ə)l dekə/
man’s door and walked in. 왍 the store noun two advertising panels, one on top
opened its doors on June 1st the store of the other
started doing business on June 1st
double-page spread /
d b(ə)l
door drop /dɔ drɒp/ noun a deliv- ped spred/ noun two facing pages in
ery of promotional literature by hand to a magazine or newspaper, used by an
all the houses in an area advertiser
door-to-door /
dɔ tə dɔ/ adjective double-pricing /
d b(ə)l prasŋ/
going from one house to the next, asking noun the practice of showing two prices
the occupiers to buy something or to on a product, to make buyers think there
vote for someone 쑗 door-to-door can- has been a price reduction
vassing 쑗 We have 200 door-to-door double-spotting /
d b(ə)l spɒtŋ/
salesmen. 쑗 Door-to-door selling is noun running an advertising spot twice
banned in this part of the village.
down /daυn/ adverb, preposition in a
door-to-door salesman /
dɔ tə lower position or to a lower position 쑗
dɔ selzmən/ noun a man who goes The inflation rate is gradually coming
from one house to the next, asking peo- down. 쑗 Shares are slightly down on the
ple to buy something day. 쑗 The price of petrol has gone
door-to-door service /
dɔ tə dɔ down. 왍 to pay money down to pay a
s&vs/ noun a transportation service deposit 쑗 They paid £50 down and the
that takes goods directly to the buyer’s rest in monthly instalments.
address downmarket /daυnmɑkt/ adverb,
dormant /dɔmənt/ adjective no adjective cheaper or appealing to a less
longer active or no longer operating wealthy section of the population 쑗 The
dormant account /
dɔmənt company has adopted a downmarket im-
əkaυnt/ noun a past customer who is age. 왍 the company has decided to go
no longer buying 쑗 Let’s re-establish downmarket the company has decided
contact with some of our dormant ac- to make products which appeal to a
counts. 쑗 All the old reports on dormant wider section of the public
accounts have been filed away. downside /daυnsad/ noun 왍 the
‘…the agency has been responsible for the sales force have been asked to give
dormant account since its last campaign was run downside forecasts they have been
three years ago’ [Marketing Week] asked for pessimistic forecasts
double /d b(ə)l/ adjective twice as downside factor /daυnsad
large or two times the size 쑗 Their turn-
fktə/ noun the possibility of making
over is double ours. 왍 to be on double a loss in an investment
time to earn twice the usual wages for down tools /
daυn tulz/ verb to
working on Sundays or other holidays 왍 stop working 쑗 The entire workforce
in double figures with two figures, downed tools in protest.
from 10 to 99 쑗 Inflation is in double
figures. 쑗 We have had double-figure downturn /daυnt&n/ noun the
inflation for some years. 쐽 verb to be- movement towards lower prices, sales
come twice as big, or make something or profits 쑗 a downturn in the market
twice as big 쑗 We have doubled our price 쑗 The last quarter saw a downturn
profits this year or our profits have dou- in the economy.
bled this year. 쑗 The company’s draft /drɑft/ noun an order for money
borrowings have doubled. to be paid by a bank 쑗 We asked for
draw 89 due

payment by banker’s draft. 왍 to make a a good time for broadcasting

draft on a bank to ask a bank to pay commercials
money for you driving licence /dravŋ
las(ə)ns/
draw /drɔ/ verb 1. to take money noun the official document which
away 쑗 to draw money out of an ac- shows someone is legally allowed to
count 왍 to draw a salary to have a sal- drive a car, a truck or other vehicle 쑗
ary paid by the company 쑗 The Applicants for the job should hold a
chairman does not draw a salary. 2. to valid driving licence. (NOTE: the Ameri-
write a cheque 쑗 He paid the invoice can English is driver’s license)
with a cheque drawn on an Egyptian drop /drɒp/ noun a fall 쑗 a drop in
bank. (NOTE: drawing – drew – has sales 쑗 Sales show a drop of 10%. 쑗
drawn) The drop in prices resulted in no signifi-
drawback /drɔbk/ noun 1. some- cant increase in sales. 쐽 verb 1. to fall
thing which is not convenient or which 쑗 Sales have dropped by 10% or have
is likely to cause problems 쑗 One of the dropped 10%. 쑗 The pound dropped
main drawbacks of the scheme is that it three points against the dollar. 2. not to
will take six years to complete. 2. a re- keep in a product range 쑗 We have
bate on customs duty for imported dropped these items from the catalogue
goods when these are then used in pro- because they’ve been losing sales
ducing exports steadily for some time. (NOTE: drop-
drawee /drɔi/ noun the person or ping – dropped)
bank asked to make a payment by a ‘…while unemployment dropped by 1.6 per cent
in the rural areas, it rose by 1.9 per cent in urban
drawer areas during the period under review’
drawer /drɔə/ noun the person who [Business Times (Lagos)]
writes a cheque or a bill asking a drawee ‘…corporate profits for the first quarter showed
to pay money to a payee 왍 the bank re- a 4 per cent drop from last year’s final three
months’ [Financial Times]
turned the cheque to drawer the bank
‘…since last summer American interest rates
would not pay the cheque because the have dropped by between three and four
person who wrote it did not have percentage points’ [Sunday Times]
enough money in the account to pay it drop ship /
drɒp ʃp/ verb to deliver
drawing account /drɔŋ ə
kaυnt/ a large order direct to a customer
noun a current account from which the
drop shipment /drɒp
ʃpmənt/
customer may take money when he or
noun the delivery of a large order from
she wants
the manufacturer direct to a customer’s
drilling down /
drlŋ daυn/ noun shop or warehouse without going
the action of sorting data into hierar- through an agent or wholesaler
chies, each of which is more detailed
dud /d d/ adjective, noun (of a coin or
than the previous one
banknote) false or not good (informal ) 쑗 .

drip /drp/, drip campaign /drp The £50 note was a dud.
km
pen/, drip method /drp dud cheque /
d d tʃek/ noun a

meθəd/ noun the placing of advertise- cheque which cannot be cashed because
ments for a product at fairly long inter-
the person writing it has not enough
vals, making a long-drawn-out
money in the account to pay it
advertising campaign
due /dju/ adjective 1. owed 쑗 a sum
drive /drav/ noun an energetic way of due from a debtor 왍 to fall/become due
doing things 왍 he has a lot of drive he to be ready for payment 왍 bill due on
is very energetic in business May 1st a bill which has to be paid on
driver /dravə/ noun something or May 1st 왍 balance due to us amount
someone that provides an impetus for owed to us which should be paid 2. ex-
something to happen pected to arrive 쑗 The plane is due to
drive time /drav tam/ noun the arrive at 10.30 or is due at 10.30. 3. 왍 in
time when people are most likely to be due form written in the correct legal
listening to the radio in their cars, hence form 쑗 a receipt in due form 쑗 a con-
dues 90 duty-paid goods

tract drawn up in due form 왍 after due the two businesses collaborated to keep
consideration of the problem after prices at very high levels. 쑗 When they
thinking seriously about the problem 왍 took over their only competitor in the
due to caused by 쑗 Supplies have been market, the duopoly became a monop-
delayed due to a problem at the manu- oly. Compare monopoly
facturers. 쑗 The company pays the duplication /
djuplkeʃ(ə)n/ noun
wages of staff who are absent due to running an advertisement twice to the
illness. same audience
‘…many expect the US economic indicators for
April, due out this Thursday, to show faster durable /djυərəb(ə)l/ adjective 왍
economic growth’ [Australian Financial durable effects effects which will be
Review] felt for a long time 쑗 These demo-
dues /djuz/ plural noun orders taken graphic changes will have durable ef-
but not supplied until new stock arrives fects on the economy.
왍 to release dues to send off orders durable goods /djυərəb(ə)l "υdz/
which had been piling up while a prod- plural noun goods which will be used
uct was out of stock 쑗 We have re- for a long time, e.g. washing machines
corded thousands of dues for that item or refrigerators
and our supplier cannot supply it.
dustbin check /d stbn tʃek/ noun
dummy /d mi/ noun an imitation a consumer audit for which a panel of
product to test the reaction of potential householders keep the empty containers
customers to its design of products bought so that these can be
dummy pack /d mi pk/ noun an regularly checked for product type, size
empty pack for display in a shop and brand
dump /d mp/ verb 왍 to dump goods Dutch auction /
d tʃ ɔkʃən/ noun
on a market to get rid of large quanti- an auction where the auctioneer offers
ties of excess goods cheaply in an over- an item for sale at a high price and then
seas market gradually reduces the price until some-
‘…a serious threat lies in the 400,000 tonnes of one makes a bid
subsidized beef in European cold stores. If
dumped, this meat will have disastrous effects in duty /djut/ noun a tax which has to
Pacific Basin markets’ [Australian Financial be paid 쑗 Traders are asking the gov-
Review] ernment to take the duty off alcohol or to
dump bin /d mp bn/ noun display put a duty on cigarettes. 왍 goods which
container like a large box which is filled are liable to duty goods on which cus-
with goods for sale toms or excise tax has to be paid
‘Canadian and European negotiators agreed to a
dump display /d mp d
sple/ noun deal under which Canada could lower its import
goods on special display in a container duties on $150 million worth of European
for purchasers to select themselves in a goods’ [Globe and Mail (Toronto)]
shop 쑗 We will use dump displays with ‘…the Department of Customs and Excise
price reductions clearly marked. 쑗 collected a total of N79m under the new
There are several dump displays near advance duty payment scheme’
[Business Times (Lagos)]
the counters in the supermarket.
dumping /d mpŋ/ noun the act of duty-free /
djuti fri/ adjective, ad-
getting rid of excess goods cheaply in an verb sold with no duty to be paid 쑗 He
overseas market 쑗 The government has bought a duty-free watch at the airport.
passed anti-dumping legislation. 쑗 쑗 He bought the watch duty-free.
Dumping of goods on the European duty-free shop /
djuti fri ʃɒp/
market is banned. 왍 panic dumping of noun a shop at an airport or on a ship
sterling a rush to sell sterling at any where goods can be bought without pay-
price because of possible devaluation ing duty
duopoly /djuɒpəli/ noun the exis- duty-paid goods /
djuti ped
tence of only two producers or suppliers "υdz/ plural noun goods where the duty
in a market 쑗 The duopoly meant that has been paid
dyadic communication 91 dynamic pricing

dyadic communication /da
dk signing of a company’s product in order

kə
mjunkeʃ(ə)n/ noun direct con- to make previous models and other
versation between two people such as a products on the market obsolete
salesperson and a customer dynamic pricing /da
nmk
dynamic obsolescence /da- prasŋ/ noun pricing that changes

nmk ɒbsəles(ə)ns/ noun the rede- when the demand for something in-
creases or decreases
e-alliance 92 econometrics

e-alliance /i ə
laəns/ noun a part- e-business /i
bznəs/ noun 1. busi-
nership between organisations that do ness activities, e.g. buying and selling,
business over the web servicing customers and communicating
e. & o.e. abbr errors and omissions with business partners, that are carried
excepted out electronically, especially on the
Internet 2. a company that does its busi-
ear /ə/ noun a space at the top left or ness using the Internet
right corner of the front page of a news- ‘…the enormous potential of e-business is that it
paper, set aside for advertising can automate the link between suppliers and
customers’ [Investors Chronicle]
early /&l/ adjective, adverb before
the usual time 쑗 The mail arrived early. ecoconsumer /ikəυkən
sjumə/
쑗 We retired early and bought a house noun a customer who will buy goods
in Cornwall. 왍 at an early date very that have been produced in a way that
soon does not harm the environment
early adopters /
&li ədɒptəz/ ecolabel /ikəυleb(ə)l/ noun a label
plural noun the category of buyers of a used to mark products that are produced
product who use it or buy it later than and can be used and disposed of in a
innovators, but earlier than the late way that does not harm the environment
majority e-commerce /i
kɒm&s/ noun the
exchange of goods, information, prod-
early closing day /
&li kləυzŋ ucts or services via an electronic me-
de/ noun a weekday, usually Wednes- dium such as the Internet (NOTE:
day or Thursday, when some shops Although e-commerce was originally
close in the afternoon limited to buying and selling, it has now
early majority /
&li mədɒrti/ evolved and includes such things as
noun a category of buyers of a product customer service, marketing, and ad-
who buy it later than the early adopters vertising.)
earned rate /
&nd ret/ noun the ac- ‘…the problem is that if e-commerce takes just a
3 per cent slice of the market that would be
tual rate for a printed advertising space enough to reduce margins to ribbons’
after taking discounts into account [Investors Chronicle]
earnest /&nst/ noun money paid as ‘…the new economy requires new company
structures. He believes that other blue-chip
an initial payment by a buyer to a seller, organizations are going to find that new set-ups
to show commitment to the contract of would be needed to attract and retain the best
sale talent for e-commerce’ [Times]
earning potential /&nŋ pə
tenʃəl/ e-commerce mall /i kɒm&s mɔl/
noun 1. the amount of money which noun same as cyber mall
someone should be able to earn 2. the e-company /i
k mp(ə)ni/ noun a
amount of dividend which a share is ca- company that does all its business using
pable of earning the Internet
easy terms /
izi t&mz/ plural noun econometrics /
kɒnəmetrks/ plu-
financial terms which are not difficult to ral noun the study of the statistics of
accept 쑗 The shop is let on very easy economics, using computers to analyse
terms. these statistics and make forecasts using
economic 93 economy

mathematical models (NOTE: takes a economic order quantity

singular verb) /
ikənɒmk ɔdə
kwɒntti/ noun the
quantity of stocks which a company
economic /
ikənɒmk/ adjective 1. should hold, calculated on the basis of
which provides enough money to make
the costs of warehousing, of lower unit
a profit 쑗 The flat is let at an economic
costs because of higher quantities pur-
rent. 쑗 It is hardly economic for the
chased, the rate at which stocks are used
company to run its own warehouse. 2.
and the time it takes for suppliers to de-
referring to the financial state of a coun-
liver new orders. Abbr EOQ
try 쑗 economic planning 쑗 economic
trends 쑗 Economic planners are expect- economic planning /
ikənɒmk
ing a comsumer-led boom. 쑗 The gov- plnŋ/ noun the process of planning
ernment’s economic policy is in ruins the future financial state of the country
after the devaluation. 쑗 The economic for the government
situation is getting worse. 쑗 The coun- economics /
ikənɒmks/ noun the
try’s economic system needs more study of the production, distribution,
regulation. selling and use of goods and services
‘…each of the major issues on the agenda at this (NOTE: takes a singular verb) 쐽 plural
week’s meeting is important to the noun the study of financial structures to
government’s success in overall economic
management’ [Australian Financial Review] show how a product or service is costed
and what returns it produces 쑗 I do not
economical /
ikənɒmk(ə)l/ adjec- understand the economics of the coal in-
tive which saves money or materials or dustry. (NOTE: takes a plural verb)
which is cheap 왍 economical car a car ‘…believers in free-market economics often
which does not use much petrol 왍 an find it hard to sort out their views on the issue’
economical use of resources using re- [Economist]
sources as carefully as possible economic stagnation /
ikənɒmk
economic development st"neʃ(ə)n/ noun a lack of expan-
/
ikənɒmk dveləpmənt/ noun the sion in the economy
expansion of the commercial and finan- economic trend /
ikənɒmk
cial situation 쑗 The economic develop- trend/ noun the way in which a coun-
ment of the region has totally changed try’s economy is moving
since oil was discovered there. 쑗 The
government has offered tax incentives to economies of scale /
kɒnəmiz əv
speed up the economic development of skel/ plural noun a situation in which
the region. 쑗 Economic development a product is made more profitable by
has been relatively slow in the north, manufacturing it in larger quantities so
compared with the rest of the country. that each unit costs less to make. Com-
pare diseconomies of scale
economic growth /
ikənɒmk
"raυθ/ noun the rate at which a coun- economist /kɒnəmst/ noun a per-
try’s national income grows son who specialises in the study of eco-
nomics 쑗 Government economists are
economic indicators /
ikənɒmk forecasting a growth rate of 3% next
ndketəz/ plural noun a set of statis- year. 쑗 An agricultural economist stud-
tics which shows how the economy is ies the economics of the agriculture
going to perform in the short or long industry.
term, e.g. the unemployment rate or
overseas trade economy /kɒnəm/ noun 1. being
careful not to waste money or materials
economic infrastructure 왍 to introduce economies or economy
/
ikənɒmk nfrəstr ktʃə/ noun the measures into the system to start using
road and rail systems of a country methods to save money or materials 2.
economic model /
ikənɒmk the financial state of a country, or the
mɒd(ə)l/ noun a computerised plan of way in which a country makes and uses
a country’s economic system, used for its money 쑗 The country’s economy is
forecasting economic trends in ruins.
economy car 94 effective date

‘…the European economies are being held back EDMA abbr European Direct Mar-
by rigid labor markets and wage structures, huge
expenditures on social welfare programs and
keting Association
restrictions on the free movement of goods’ educational advertising /edjυ-
[Duns Business Month]
keʃ(ə)nəl dvətazŋ/ noun adver-
economy car /kɒnəmi kɑ/ noun a tising that informs consumers about a
car which does not use much petrol product, particularly important when the
economy drive /kɒnəmi drav/ product has only recently been intro-
noun vigorous effort to save money or duced 쑗 Educational advertising has
materials made the public aware that our product
is just as safe as more traditional de-
economy measure /kɒnəmi

meə/ noun an action to save money or vices on the market.
materials e-economy /i 
kɒnəmi/ noun an
economy size /kɒnəmi saz/ noun economy in which the use of the
a large size or large packet which is Internet and information technology
cheaper than normal plays a major role
editing /edtŋ/ noun 1. the process effect /fekt/ noun 1. a result 쑗 The
of checking the results of a survey to effect of the pay increase was to raise
confirm that data has been collected cor- productivity levels. 2. 왍 terms of a con-
rectly 2. the process of modifying or tract which take effect or come into
correcting a text or film 쑗 This sales lit- effect from January 1st terms which
erature needs editing to make it less start to operate on January 1st 왍 prices
long-winded. are increased 10% with effect from
January 1st new prices will apply from
edition /dʃ(ə)n/ noun an issue of a
publication such as a newspaper, trade January 1st 왍 to remain in effect to
magazine or book 쑗 We are too late to continue to be applied 3. meaning 왍 a
advertise in this month’s edition. 쑗 clause to the effect that a clause which
There will be too many competing ad- means that 왍 we have made provision
vertisements in that edition. to this effect we have put into the con-
tract terms which will make this work 쐽
editorial /
edtɔriəl/ adjective refer- verb to carry out 왍 to effect a payment
ring to editors or to editing 쐽 noun the to make a payment 왍 to effect customs
main article in a newspaper, written by clearance to clear something through
the editor customs 왍 to effect a settlement be-
editorial advertisement /ed- tween two parties to bring two parties

tɔriəl ədv&tsmənt/ noun an adver- together and make them agree to a
tisement in the form of text material in a settlement
magazine effective /fektv/ adjective 1. ac-
editorial board /edtɔriəl bɔd/ tual, as opposed to theoretical 2. 왍 a
noun a group of editors on a newspaper clause effective as from January 1st a
or other publication clause which starts to be applied on Jan-
editorial environment /ed
tɔriəl uary 1st 3. which works or produces re-
nvaərənmənt/ noun the general edi- sults 쑗 Advertising in the Sunday papers
torial tone and philosophy of a medium is the most effective way of selling. 쑗
editorial matter /edtɔriəl
mtə/ She is an effective marketing manager. 쏡
noun the text of a magazine which is cost-effective
written by journalists, and not part of an effective cover /
fektv k və/
advertisement noun a situation where consumers in the
editorial publicity /ed
tɔriəl p b- target audience will have seen the ad-
lsti/ noun free publicity which is vertisement at least four times on
given to a product by a newspaper or average
magazine in an editorial or article, rather effective date /
fektv det/ noun
than in an advertisement which must be the date on which a rule or contract
paid for
effective demand 95 electronic shopping

starts to be applied, or on which a trans- goods that a supplier has for sale, which
action takes place can be viewed in an electronic format,
effective demand /
fektv d- e.g., on a website
mɑnd/ noun the actual demand for a electronic commerce /
elktrɒnk
product which can be paid for kɒm&s/ noun same as e-commerce
effectiveness /fektvnəs/ noun the electronic data capture
quality of working or producing results /
elktrɒnk detə
kptʃə/ noun the
쑗 I doubt the effectiveness of television use of data-processing equipment to col-
advertising. 쏡 cost-effectiveness lect data, especially the use of electronic
effective reach /
fektv ritʃ/ noun point-of-sale equipment to collect, vali-
the actual number of people who will date and submit data when credit or
see an advertisement once debit cards are used in transactions
effective sample size /
fektv electronic data interchange
sɑmpəl saz/ noun the size of a sam- /
elktrɒnk detə
ntətʃend/ noun
ple after all irrelevant factors have been a standard format used when business
removed documents such as invoices and pur-
effectual /fektʃuəl/ adjective which chase orders are exchanged over elec-
produces a correct result tronic networks such as the Internet
ego /i"əυ, e"əυ/ noun the psycho- electronic data processing
logical term for a person’s conscious- /
elktrɒnk detə
prəυsesŋ/ noun
ness of himself or herself 쑗 We are the process of selecting and examining
designing clothes to boost men’s egos. 쑗 data stored in a computer to produce in-
Glamorous advertising appeals to the formation. Abbr EDP
customer’s ego. electronic funds transfer at
eighty/twenty rule /
eti twenti point of sale /
elktrɒnk f ndz
rul/ noun the rule that a small percent- trnsf& ət
pɔnt əv sel/ noun a sys-
age of customers may account for a tem for transferring money directly
large percentage of sales. 쏡 Pareto’s from the purchaser’s account to the
Law seller’s, when a sale is made using a
elastic /lstk/ adjective which can plastic card. Abbr EFTPOS
expand or contract easily because of electronic mail /
elktrɒnk mel/
small changes in price noun same as email 1
elastic demand /
lstk dmɑnd/ electronic media /
elktrɒnk
noun demand which experiences a com- midiə/ plural noun electronic-based
paratively large percentage change in re- media, e.g. television and radio 쑗 Ad-
sponse to a change in price vertising in the electronic media would
elasticity /
lstsəti/ noun the abil- certainly increase sales, but we can only
ity to change easily in response to a afford to advertise in the press.
change in circumstances 왍 elasticity of electronic payment system
supply and demand changes in supply /
elktrɒnk pemənt
sstəm/ noun a
and demand of an item depending on its means of making payments over an
market price electronic network such as the Internet
elastic supply /
lstk səpla/ electronic point of sale
noun supply which experiences a com- /
elktrɒnk pɔnt əv sel/ noun a sys-
paratively large percentage change in re- tem where sales are charged automati-
sponse to a change in price cally to a customer’s credit card and
electronic /
elktrɒnk/ adjective re- stock is controlled by the shop’s com-
ferring to computers and electronics puter. Abbr EPOS
electronic cash /
elktrɒnk kʃ/ electronic shopping /
elktrɒnk
noun same as digital cash ʃɒpŋ/ noun shopping for goods or ser-
electronic catalogue /
elktrɒnk vices which takes place over an elec-
kt(ə)lɒ"/ noun a catalogue of the tronic network such as the Internet
eliminate 96 enc

eliminate /lmnet/ verb to remove embargo on the export of computers. 왍

쑗 to eliminate defects in the system 쑗 to be under an embargo to be forbid-
Using a computer should eliminate all den 2. a period of time during which
possibility of error. 쑗 We have decided specific information in a press release
to eliminate this series of old products must not be published (NOTE: plural is
from our range. 쑗 Most of the candi- embargoes) 쐽 verb 1. to stop trade or
dates were eliminated after the first not to allow trade 쑗 The government has
batch of tests. embargoed trade with the Eastern coun-
elimination /
lmneʃ(ə)n/ noun tries. 2. not to allow publication of in-
the act of removing something formation for a period of time 쑗 The
news of the merger has been embargoed
email /imel/ noun 1. a system of until next Wednesday.
sending messages from one computer ‘…the Commerce Department is planning to
terminal to another, using a modem and loosen export controls for products that have
telephone lines 쑗 You can contact me by been embargoed but are readily available
phone or email if you want. 2. a mes- elsewhere in the West’ [Duns Business Month]
sage sent electronically 쑗 I had six e-money /i
m ni/ noun same as
emails from him today. 쐽 verb to send a digital money
message from one computer to another, emotional appeal /
məυʃ(ə)n(ə)l
using a modem and telephone lines 쑗 əpil/ noun an attempt by advertising to
She emailed her order to the warehouse. persuade through an emotional rather
쑗 I emailed him about the meeting. than a rational message 쑗 The charity
email campaign /imel km
pen/ used the emotional appeal of starving
noun a series of emails which deliver children to raise funds. 쑗 Emotional ap-
marketing messages to individuals peal was an obvious feature in all the
political parties’ campaign films.
email mailing list /
i mel melŋ
lst/ noun a marketing technique that in- empirical data /m
prk(ə)l detə/
volves contacting a group of people noun data or information which comes
from anywhere in the world and inviting from actual observation or which can be
them to discuss a particular topic and proved 쑗 We have no empirical data
share information and experience by concerning our competitors’ sales last
email (NOTE: An email mailing list is run year.
by a moderator who compiles a list of employers’ liability insurance
email addresses for possible mem- /m
plɔəz
laəblti n
ʃυərəns/
bers, mails them with the theme for noun insurance to cover accidents
discussion, collects their contributions, which may happen at work, and for
and publishes them by email so that which the company may be responsible
other members of the group can re- employers’ organization /m-
spond to them.) plɔəz ɔ"əna
zeʃ(ə)n/, employers’
e-marketplace /i mɑktples/ association /mplɔəz əsəυsi-
noun a network of connections that
eʃ(ə)n/ noun a group of employers
brings business-to-business buyers and with similar interests
sellers together on the Internet and en- employment agency /mplɔmənt
ables them to trade more efficiently
edənsi/ noun an office which finds
online jobs for staff
embargo /mbɑ"əυ/ noun 1. a gov- emporium /mpɔriəm/ noun a large
ernment order which stops a type of shop (NOTE: plural is emporia)
trade 왍 to lay or put an embargo on emptor /emptə/ noun 쒁 caveat
trade with a country to say that trade emptor
with a country must not take place 쑗
The government has put an embargo on empty nesters /
empti nestəz/ plu-
the export of computer equipment. 왍 to ral noun couples whose children have
lift an embargo to allow trade to start grown up and left the home
again 쑗 The government has lifted the enc, encl abbr enclosure
enclose 97 environmental analysis

enclose /nkləυz/ verb to put some- enterprise /entəpraz/ noun 1. a

thing inside an envelope with a letter 쑗 system of carrying on a business 2. a
to enclose an invoice with a letter 쑗 I business
am enclosing a copy of the contract. 쑗 enterprise zone /entəpraz zəυn/
Please find the cheque enclosed here- noun an area of the country where busi-
with. 쑗 Please enclose a recent photo- nesses are encouraged to develop by of-
graph with your CV. fering special conditions such as easy
enclosure /nkləυə/ noun a docu- planning permission for buildings or a
ment enclosed with a letter or package 쑗 reduction in the business rate
The enclosure turned out to be a free entrant /entrənt/ noun a company
sample of perfume. 쑗 Sales material on which goes into a market for the first
other products was sent out as an time
enclosure.
entrepot port /ɒntrəpəυ pɔt/ noun
encode /nkəυd/ verb to write some- a town with a large international com-
thing in a code so that it cannot be read mercial port dealing in re-exports
or used by other people
entrepot trade /ɒntrəpəυ tred/
end /end/ noun the final point or last noun the exporting of imported goods
part 쑗 at the end of the contract period
entrepreneur /
ɒntrəprən&/ noun a
end consumer /end kənsjumə/ person who directs a company and takes
noun a person who uses a product 쑗 The commercial risks
survey was designed to assess the atti-
tudes of end consumers to the product. entrepreneurial /
ɒntrəprən&riəl/
adjective taking commercial risks 쑗 an
end of season sale /
end əv entrepreneurial decision
siz(ə)n sel/ noun a sale of goods at a
lower price when the season in which entry barrier /entri
briə/ noun
they would be used is over such as sum- same as barrier to entry
mer clothes sold cheaply in the autumn E number /i n mbə/ noun a classifi-
endorse /ndɔs/ verb to say that a cation of additives to food according to
product is good 왍 to endorse a bill or a the European Union
cheque to sign a bill or cheque on the COMMENT: Additives are classified as fol-
back to show that you accept it lows: colouring substances: E100 – E180;
preservatives: E200 – E297; antioxidants:
endorsee /endɔsi/ noun a person E300 – E321; emulsifiers and stabilizers:
whose name is written on a bill or E322 – E495; acids and bases: E500 –
cheque as having the right to cash it E529; anti-caking additives: E530 – E578;
endorsement /ndɔsmənt/ noun 1. flavour enhancers and sweeteners: E620
the act of endorsing 2. signature on a – E637.
document which endorses it envelope stuffer /envələυp
st fə/
endorsement advertising /n- noun advertising material which is
dɔsmənt
dvətazŋ/ noun same as mailed in an envelope
product endorsement environment /nvarənmənt/ noun
endorser /ndɔsə/ noun a person the area in which an organisation works
who endorses a bill which is then paid to environmental analysis
him or her /nvarən
ment(ə)l ənləss/ noun
end user /end juzə/ noun a person analysis of factors outside an organisa-
who actually uses a product tion such as demography or politics, in
order to make strategic planning more
enhancement /nhɑnsmənt/ noun effective 쑗 Our environmental analysis
increase or improvement in quality of must cover all the countries we sell in. 쑗
service, value for money, etc. Environmental analysis made clear that
ent /ent/ noun a test of number se- some markets were too unstable to
quences for large quantities of data enter.
environmental management 98 estimate

environmental management creased costs, or regular wage increases

/nvarən
ment(ə)l mndmənt/ because of the increased cost of living
noun a planned approach to minimising
an organisation’s impact on the
escrow /eskrəυ/ noun 왍 in escrow
held in safe keeping by a third party 왍
environment
document held in escrow a document
epos /ipɒs/, EPOS, EPoS abbr elec- given to a third party to keep and to pass
tronic point of sale on to someone when money has been
equilibrium /
ikwlbriəm/ noun paid
the state of balance in the economy escrow account /eskrəυ ə
kaυnt/
where supply equals demand noun US an account where money is
equity capital /ekwti
kpt(ə)l/ held in escrow until a contract is signed
noun the nominal value of the shares or until goods are delivered
owned by the ordinary shareholders of a essential /senʃəl/ adjective very
company (NOTE: Preference shares important 쑗 It is essential that an agree-
are not equity capital. If the company
ment be reached before the end of the
were wound up, none of the equity
month. 쑗 The factory is lacking essen-
capital would be distributed to prefer-
tial spare parts.
ence shareholders.)
e-retailer /i
ritelə/ noun a busi- essential goods /
senʃəl "υdz/,
ness that uses an electronic network essential products /
senʃəl
such as the Internet to sell its goods or prɒd ktz/ plural noun basic goods or
services products necessary for everyday life
erode /rəυd/ verb to wear away grad- estate duty /stet
djuti/ noun a
ually 왍 to erode wage differentials to tax paid on the property left by a dead
reduce gradually differences in salary person
between different grades estimate noun /estmət/ 1. a calcula-
error /erə/ noun a mistake 쑗 He made tion of probable cost, size or time of
an error in calculating the total. 쑗 The something 왍 these figures are only an
secretary must have made a typing estimate these are not the final accurate
error. figures 쑗 Can you give me an estimate
error rate /erə ret/ noun the number of how much time was spent on the job?
of mistakes per thousand entries or per 2. a calculation by a contractor or seller
page of a service of how much something is
likely to cost, given to a client in ad-
escalate /eskəlet/ verb to increase vance of an order 쑗 You should ask for
steadily an estimate before committing your-
escalation /
eskəleʃ(ə)n/ noun a selves. 쑗 Before we can give the grant
steady increase 쑗 an escalation of wage we must have an estimate of the total
demands 쑗 The union has threatened an costs involved. 쑗 Unfortunately the final
escalation in strike action. 왍 escalation bill was quite different from the esti-
of prices a steady increase in prices mate. 왍 to put in an estimate to give
escalation clause /
eskəleʃ(ə)n someone a written calculation of the
klɔz/ noun same as escalator clause probable costs of carrying out a job 쑗
Three firms put in estimates for the job.
escalator /eskəletə/ noun a moving
쐽 verb /estmet/ 1. to calculate the
staircase
probable cost, size or time of something
escalator card /eskəletə kɑd/ 쑗 to estimate that it will cost £1m or to
noun an advertisement on either side of estimate costs at £1m 쑗 We estimate
an escalator in underground stations 쑗 current sales at only 60% of last year. 2.
The media buyer compared the cost of 왍 to estimate for a job to state in writ-
posters and escalator cards. ing the future costs of carrying out a
escalator clause /eskəletə klɔz/ piece of work so that a client can make
noun a clause in a contract allowing for an order 쑗 Three firms estimated for the
regular price increases because of in- refitting of the offices.
estimated 99 excess

estimated /estmetd/ adjective work more freely in other countries of

calculated approximately 쑗 estimated the group
sales 쑗 Costs were slightly more than evaluate /vljuet/ verb to examine
the estimated figure. something to see how good it is
estimation /
estmeʃ(ə)n/ noun an evaluation /
vljυeʃ(ə)n/ noun the
approximate calculation examination of a product to see how
estimator /estmetə/ noun a person good it is
whose job is to calculate estimates for evaluative /vljuətv/ adjective re-
carrying out work ferring to the calculation of value
e-tailer /i telə/ noun same as evaluative criteria /
vljuətv
e-retailer kratəriə/ plural noun the criteria used
e-tailing /i telŋ/ noun 1. the selling to compare different products or
of goods and services using an elec- services
tronic network such as the Internet 2. even number /
iv(ə)n n mbə/
same as e-commerce noun a number which can be divided by
ethics /eθks/ noun the moral aspects two, e.g. 24 or 80
of decision-making 쑗 Whether or not event /vent/ noun a thing which hap-
we use such aggressive sales tactics is a pens, e.g. a sports competition, a flower
matter of ethics. (NOTE: takes a singular show
verb)
event marketing /vent
mɑktŋ/
ethnic /eθnk/ adjective relating to noun promotional activity to advertise
people who share the same race, culture an event
and traditions
event sponsorship /vent
ethnic media /
eθnk midiə/ plural
spɒnsəʃp/ noun a promotional deal by
noun magazines or TV stations which
which a company sponsors a particular
appeal to ethnic audiences
event such as a concert, sporting event,
ethnocentric stage /
eθnəυ or other activity, on a regular basis
sentrk sted/ noun US an early
stage in a company’s marketing when
evoke /vəυk/ verb to call up an
image
goods are sent overseas with no conces-
sions to local needs or tastes evoked set /
vəυkt set/ noun the
various brands which are identified by a
EU /iju/ abbr European Union 쑗 EU
consumer as possible purchases and
ministers met today in Brussels. 쑗 The
which he or she considers during the al-
USA is increasing its trade with the EU.
ternative evaluation process
European Community /
jυərə-

piən kəmjunti/ noun formerly, the ex /eks/ preposition 1. out of or from 왍
name of the European Union price ex warehouse a price for a prod-
uct which is to be collected from the
European Direct Marketing As- manufacturer’s or agent’s warehouse
sociation /
jυərəpiən da
rekt and so does not include delivery 왍 price
mɑktŋ ə
səυsieʃ(ə)n/ an organisa- ex works or ex factory a price not in-
tion based in Switzerland which moni- cluding transport from the maker’s fac-
tors new techniques in direct marketing tory 2. without
and represents the interests of its mem-
bers. Abbr EDMA ex- /eks/ prefix former 쑗 an ex-director
of the company
European Union /jυərəpiən
jυnən/ (formerly, the European Eco- excess /kses, ekses/ noun an
nomic Community (EEC), the Common amount which is more than what is al-
Market) a group of European countries lowed 쑗 an excess of expenditure over
linked together by the Treaty of Rome revenue
‘…most airlines give business class the same
in such a way that trade is more free, baggage allowance as first class, which can save
people can move from one country to large sums in excess baggage’
another more freely and people can [Business Traveller]
excess baggage 100 exclusive agreement

‘…control of materials provides manufacturers has imposed exchange controls. 쑗 They

with an opportunity to reduce the amount of say the government is going to lift ex-
money tied up in excess materials’
[Duns Business Month] change controls.
excess baggage /
ekses b"d/ exchange dealer /kstʃend
noun an extra payment at an airport for
dilə/ noun a person who buys and sells
taking baggage which is heavier than foreign currency
the normal passenger’s allowance exchange dealings /kstʃend
excess capacity /
ekses kəpsti/
dilŋz/ plural noun the buying and
noun spare capacity which is not being selling of foreign currency
used exchange economy /kstʃend
excess demand /
ekses dmɑnd/ 
kɒnəmi/ noun an economy based on
noun more demand at the present price the exchange of goods and services
than sellers can satisfy 쑗 Much more exchange premium /kstʃend
machinery and labour must be acquired
primiəm/ noun an extra cost above the
to meet excess demand. normal rate for buying a foreign
excess profit /
ekses prɒft/ noun currency
profit which is higher than what is exchanger /kstʃendə/ noun a
thought to be normal person who buys and sells foreign
excess supply /
ekses səpla/ noun currency
more supply at the present price than
buyers want to buy
exchange rate /kstʃend ret/
noun a figure that expresses how much
exchange /kstʃend/ noun the act a unit of one country’s currency is worth
of giving one thing for another 왍 ex- in terms of the currency of another
change of contracts the point in the country
sale of property when the buyer and the ‘…can free trade be reconciled with a strong
seller both sign the contract of sale dollar resulting from floating exchange rates’
which then becomes binding 쐽 verb 1. [Duns Business Month]
왍 to exchange something (for some- ‘…a draft report on changes in the international
thing else) to give one thing in place of monetary system casts doubt on any return to
something else 쑗 He exchanged his mo- fixed exchange-rate parities’
[Wall Street Journal]
torcycle for a car. 쑗 If the trousers are
too small you can take them back and exchange transaction /ks-
exchange them for a larger pair. 쑗 tʃend trn
zkʃən/ noun a pur-
Goods can be exchanged only on pro- chase or sale of foreign currency
duction of the sales slip. 2. to change excise duty /eksaz
djuti/ noun a
money of one country for money of an- tax on goods such as alcohol and petrol
other 쑗 to exchange euros for pounds which are produced in the country
‘…under the barter agreements, Nigeria will
export crude oil in exchange for trucks, food, exclusion clause /ksklu(ə)n
planes and chemicals’ [Wall Street Journal] klɔz/ noun a clause in an insurance
exchangeable /kstʃendəb(ə)l/ policy or warranty which says which
adjective which can be exchanged items or events are not covered
exchange control /kstʃend exclusive adjective /ksklusv/ 1.
kən
trəυl/ noun the control by a gov- limited to one person or group 왍 to have
ernment of the way in which its cur- exclusive right to market a product to
rency may be exchanged for foreign be the only person who has the right to
currencies 쑗 The government had to im- market a product 2. 왍 exclusive of not
pose exchange controls to stop the rush including 쑗 All payments are exclusive
to buy dollars. of tax. 쑗 The invoice is exclusive of
exchange controls /kstʃend VAT. 쐽 noun the exclusive rights to a
kən
trəυlz/ plural noun government re- news story or the story itself
strictions on changing the local currency exclusive agreement /k
sklusv
into foreign currency 쑗 The government ə"rimənt/ noun an agreement where a
exclusivity 101 expected price

person is made sole agent for a product exhibition stand /
eksbʃ(ə)n

in a market stnd/ noun a separate section of an
exclusivity /
eksklusvt/ noun the exhibition where a company exhibits its
exclusive right to market a product products or services
ex dividend /eks dvdend/ adjec- exhibitor /"zbtə/ noun a person or
tive referring to a share price not includ- company that shows products at an
ing the right to receive the next dividend exhibition
쑗 The shares went ex dividend exorbitant /"zɔbtənt/ adjective
yesterday. unreasonably high in price 쑗 $10,000 a
exempt /"zempt/ adjective not cov- minute, that’s exorbitant and quite un-
ered by a law, or not forced to obey a justified. 쑗 Their fees may seem exorbi-
law 쑗 Anyone over 65 is exempt from tant, but their costs are very high.
charges 왍 exempt from tax not re- expand /kspnd/ verb to get bigger,
quired to pay tax 쑗 As a or make something bigger 쑗 an expand-
non-profit-making organisation we are ing economy 쑗 The company is expand-
exempt from tax. 쐽 verb 1. to free some- ing fast. 쑗 We have had to expand our
thing from having tax paid on it 쑗 sales force.
Non-profit-making organisations are expansion /kspnʃən/ noun an in-
exempted from tax. 2. to free someone crease in size 쑗 The expansion of the
from having to pay tax 쑗 Food is ex- domestic market. 쑗 The company had
empted from sales tax. difficulty in financing its current expan-
‘Companies with sales under $500,000 a year sion programme.
will be exempt from the minimum-wage ‘…inflation-adjusted GNP moved up at a 1.3%
requirements’ [Nation’s Business] annual rate, its worst performance since the
exempt rating /"zempt
retŋ/ economic expansion began’ [Fortune]
noun the legal right of a business not to ‘…the businesses we back range from start-up
add VAT to the prices of some products ventures to established businesses in need of
further capital for expansion’ [Times]
or services
‘…the group is undergoing a period of rapid
exempt supplies /"
zempt expansion and this has created an exciting
səplaz/ plural noun products or ser- opportunity for a qualified accountant’
vices on which the supplier does not [Financial Times]
have to charge VAT expect /kspekt/ verb to hope that
ex gratia /eks "reʃə/ adjective done something is going to happen 쑗 We are
as a favour expecting him to arrive at 10.45. 쑗 They
ex gratia payment /eks
"reʃə are expecting a cheque from their agent
pemənt/ noun a payment made as a next week. 쑗 The house was sold for
gift, with no other obligations more than the expected price.
‘…he observed that he expected exports to grow
exhibit /"zbt/ noun 1. a thing faster than imports in the coming year’
which is shown 쑗 The buyers admired [Sydney Morning Herald]
the exhibits on our stand. 2. a single ‘American business as a whole has seen profits
section of an exhibition 쑗 the British well above the levels normally expected at this
Trade Exhibit at the International Com- stage of the cycle’ [Sunday Times]
puter Fair 쐽 verb 왍 to exhibit at the expectation /
ekspekteʃ(ə)n/ noun
Motor Show to display new models of 1. what someone believes will happen,
cars at the Motor Show especially concerning their future pros-
exhibition /
eksbʃ(ə)n/ noun an perity 2. what someone believes about
occasion for the display of goods so that an item or service to be purchased,
buyers can look at them and decide what which is one of the reasons for making
to buy 쑗 The government has sponsored the purchase
an exhibition of good design. 쑗 We have expected price /ekspektd pras/
a stand at the Ideal Home Exhibition. 쑗 noun the price of a product which con-
The agricultural exhibition grounds sumers consider corresponds to its true
were crowded with visitors. value
expense 102 exploit

expense /kspens/ noun money staff will have dealt with a crisis like
spent 쑗 It is not worth the expense. 쑗 this before.
The expense is too much for my bank experience effect /kspəriəns
balance. 쑗 The likely profits do not jus- 
fekt/ noun the role of experience in
tify the expense of setting up the project. improving business efficiency 쑗 The ex-
쑗 It was well worth the expense to get perience effect is evident in the rise in
really high-quality equipment. our profits as our workforce becomes
expense account /kspens more skilled.
ə
kaυnt/ noun an allowance of money experiencer /ekspəriənsə/ noun in
which a business pays for an employee the VALS lifestyle classification sys-
to spend on travelling and entertaining tem, a young person who likes new and
clients in connection with that business unusual things and spends a lot of
쑗 I can put this lunch on my expense money on hobbies and socialising
account
experiential advertising /ek-
expenses /kspensz/ plural noun
spərienʃəl dvətazŋ/ noun adver-
money paid to cover the costs incurred tising which conveys to the customer
by someone when doing something 쑗 the real sensation of using the product
The salary offered is £10,000 plus ex- experimental method /eksper-
penses. 왍 all expenses paid with all ment(ə)l
meθəd/ noun the use of con-
costs paid by the company 쑗 The com- trolled experiments to discover the in-
pany sent him to San Francisco all ex- fluence of various variables in
penses paid. 왍 to cut down on expenses marketing such as types of promotion
to reduce spending and sales training
expensive /kspensv/ adjective expert /eksp&t/ noun a person who
which costs a lot of money 쑗 First-class knows a lot about something 쑗 an ex-
air travel is becoming more and more pert in the field of electronics or an elec-
expensive. tronics expert 쑗 The company asked a
experience /kspəriəns/ noun financial expert for advice or asked for
knowledge or skill that comes from hav- expert financial advice. 왍 expert’s re-
ing had to deal with many different situ- port a report written by an expert
ations 쑗 She has a lot of experience of expertise /
ekspətiz/ noun special-
dealing with German companies. 쑗 I ist knowledge or skill in a particular
gained most of my experience abroad. 쑗 field 쑗 With years of experience in the
Considerable experience is required for industry, we have plenty of expertise to
this job. 쑗 The applicant was pleasant, draw on. 쑗 Lack of marketing expertise
but did not have any relevant experi- led to low sales figures. 쑗 We hired Mr
ence. 쐽 verb to live through a situation Smith because of his financial expertise
쑗 The company experienced a period of or because of his expertise in finance.
falling sales.
expert system /eksp&t sstəm/
experience curve /kspəriəns noun a computer program that is de-
k&v/ noun a graph showing the rela- signed to imitate the way a human ex-
tionship between the cumulative amount pert in a particular field thinks and
of products produced and the production makes decisions (NOTE: Expert sys-
cost per unit 쑗 The experience curve tems, which are an application of artifi-
shows how increasing efficiency has cial intelligence, are used for a wide
brought down our costs. variety of tasks including medical diag-
experienced /kspəriənst/ adjec- nostics and financial decision-making
tive referring to a person who has lived and can be used by non-experts to
through many situations and has learnt solve well-defined problems when hu-
from them 쑗 You are the most experi- man experts are unavailable.)
enced negotiator I know. 쑗 We have ap- exploit /ksplɔt/ verb to use some-
pointed a very experienced candidate as thing to make a profit 쑗 The company is
sales director. 쑗 Our more experienced exploiting its contacts in the Ministry of
exponential diffusion 103 express

Trade. 쑗 We hope to exploit the oil re- export department /ekspɔt d-
sources in the China Sea.
pɑtmənt/ noun the section of a com-
exponential diffusion /ekspə- pany which deals in sales to foreign

nenʃ(ə)l dfju(ə)n/, exponential countries
growth /ekspə
nenʃ(ə)l "rəυθ/ noun export duty /ekspɔt
djuti/ noun a
a typical growth pattern of new products tax paid on goods sent out of a country
that involves a slow start, followed by for sale
acceleration and finally a slowing down exporter /kspɔtə/ noun a person,
exponential smoothing /ekspə- company or country that sells goods in

nenʃ(ə)l smuðŋ/noun a technique foreign countries 쑗 a major furniture
for working out averages while allowing exporter 쑗 Canada is an important ex-
for recent changes in values by moving porter of oil or an important oil
forward the period under consideration exporter.
at regular intervals export house /ekspɔt haυs/ noun
export noun /ekspɔt/ the practice or a company which specialises in the ex-
business of sending goods to foreign port of goods manufactured by other
countries to be sold 쑗 50% of the com- companies
pany’s profits come from the export exporting /ekspɔtŋ/ adjective
trade or the export market. 쐽 verb /k- which exports 왍 oil-exporting coun-
spɔt/ to send goods to foreign coun- tries countries which produce oil and
tries for sale 쑗 50% of our production is sell it to other countries
exported. 쑗 The company imports raw
materials and exports the finished export licence /ekspɔt
las(ə)ns/
products. noun a government permit allowing
‘…in the past, export documentation was a something to be exported 쑗 The govern-
major stumbling block for some companies’ ment has refused an export licence for
[Marketing & Sales Management] computer parts.
‘Europe’s gross exports of white goods climbed
to 2.4 billion, about a quarter of total export manager /ekspɔt
production’ [Economist]
mndə/ noun the person in charge of
‘…the New Zealand producers are now aiming an export department in a company 쑗
to export more fresh meat as opposed to frozen The export manager planned to set up a
which has formed the majority of its UK imports sales force in Southern Europe. 쑗 Sales
in the past’ [Marketing] managers from all export markets re-
export agent /ekspɔt
edənt/ port to our export manager.
noun a person who sells overseas on be- exports /ekspɔts/ plural noun goods
half of a company and earns a commis- sent to a foreign country to be sold 쑗
sion 쑗 An export agent is developing Exports to Africa have increased by
our business in West Africa. 쑗 She is 25%. (NOTE: usually used in the plural,
working in London as an export agent but the singular form is used before a
for a French company. noun)
exportation /
ekspɔteʃ(ə)n/ noun exposition /
ekspəzʃ(ə)n/ noun US
the act of sending goods to foreign same as exhibition
countries for sale
exposure /kspəυə/ noun publicity
export bounty /ekspɔt
baυnti/ given to an organisation or product 쑗
noun a government payment to busi-
Our company has achieved more expo-
nesses to encourage specific types of sure since we decided to advertise
export nationally.
Export Credit Guarantee Depart- ‘…it attributed the poor result to the bank’s high
ment /
ekspɔt
kredt "rənti d- exposure to residential mortgages, which

pɑtmənt/ noun a British government showed a significant slowdown in the past few
department which insures sellers of ex- months’ [South China Morning Post]
ports sold on credit against the possibil- express /kspres/ adjective rapid or
ity of non-payment by the purchasers. very fast 쑗 an express letter 쐽 verb to
Abbr ECGD send something very fast 쑗 We ex-
expressage 104 extra

pressed the order to the customer’s extensive problem-solving /k-

warehouse.
stensv prɒbləm
səυlvŋ/ noun de-
expressage /kspresd/ noun US tailed research and decision-making by
a very fast transport service a buyer who needs to examine carefully
all options open to him or her
express delivery /k
spres d-
lv(ə)ri/ noun very fast delivery external /kst&n(ə)l/ adjective 1.
outside a country 2. outside a company
extend /kstend/ verb 1. to offer 쑗 to
extend credit to a customer 2. to make external account /k
st&n(ə)l
longer 쑗 Her contract of employment əkaυnt/ noun an account in a British
was extended for two years. 쑗 We have bank of someone who is living in an-
extended the deadline for making the other country
appointment by two weeks. external analysis /k
st&n(ə)l
extended credit /k
stendd ənləss/ noun the analysis of an
kredt/ noun credit allowing the bor- organisation’s customers, market seg-
rower a very long time to pay 쑗 We sell ments, competitors, and marketing
to Australia on extended credit. environment
extended guarantee /k
stendd external audience /k
st&n(ə)l
"rənti/ noun a guarantee, offered by ɔdiəns/ noun people, such as the gen-
a dealer on consumer durables such as eral public, who do not belong to an
dishwashers, which goes beyond the organisation
time specified in the manufacturer’s external audit /kst&n(ə)l ɔdt/
guarantee noun an evaluation of the effectiveness
extension /kstenʃən/ noun allow- of a company’s public relations carried
ing a longer time for something than out by an outside agency
was originally agreed 왍 to get an exten- external communication /k-
sion of credit to get more time to pay
st&n(ə)l kəmjunkeʃ(ə)n/ noun the
back 왍 extension of a contract the con- exchange of information and messages
tinuing of a contract for a further period between an organisation and other or-
‘…the White House refusal to ask for an ganisations, groups, or individuals that
extension of the auto import quotas’ are not part of it (NOTE: External com-
[Duns Business Month]
munication includes the fields of public
extension strategy /kstenʃən relations, media relations, advertising,

strtədi/ noun a marketing strategy and marketing management.)
aimed at extending the life of a product external desk research /k-
either by making small changes in it,
st&n(ə)l desk r
s&tʃ/ noun research
finding new uses for it or finding new based on material outside the com-
markets 쑗 An extension strategy is pany’s own records, e.g. in libraries or
needed to ensure demand for another government departments
few years. 쑗 The extension strategy con-
sisted in providing a greater choice of external search /k
st&n(ə)l s&tʃ/
colours and upholstery for the range of noun a method of finding information
cars. from external sources such as advertis-
ing, or from the web using a search
extensive /kstensv/ adjective very engine
large or covering a wide area 쑗 an ex-
tensive network of sales outlets external search engine /k-

st&n(ə)l s&tʃ
endn/ noun a search
extensive marketing /k
stensv engine that allows the user to search
mɑktŋ/ noun the practice of using a millions of Internet pages rapidly
wide network of distributors and a great
variety of promotional activities to gain external trade /k
st&n(ə)l tred/
as large a section of the market as possi- noun trade with foreign countries
ble 쑗 Only a company with vast re- (NOTE: the opposite is internal trade)
sources could embark on this type of extra /ekstrə/ adjective which is
extensive marketing. added or which is more than usual 쑗 to
extranet 105 e-zine

charge 10% extra for postage 쑗 service ture 쑗 We are using extrapolation to
is extra 쑗 There is no extra charge for forecast demand for a new product
heating. 쑗 We get £25 extra pay for based on the demand for a similar prod-
working on Sunday. uct over the last five years.
extranet /ekstrənet/ noun a closed extras /ekstrəz/ plural noun items
network of websites and email systems which are not included in a price 쑗
that is accessible to the people who be- Packing and postage are extras.
long to an organisation and to some oth- eyeballing /abɔlŋ/ noun simply
ers who do not, and that allows the looking at statistical data to make a
outsiders access to the organisation’s in- quick and informal assessment of the re-
ternal applications or information—usu- sults (informal )
.
ally subject to some kind of signed
agreement (NOTE: Like intranets, eyeballs /abɔlz/ plural noun a mea-
extranets provide all the benefits of sure of the number of visits made to a
Internet technology (browsers, web website (slang)
servers, HTML, etc.) with the added eye candy /a
kndi/ noun visually
benefit of security, since the network attractive material (slang)
cannot be used by the general public.) eye-movement test /a
extraordinary items /k-
muvmənt
test/, eye tracking /a
strɔd(ə)n(ə)ri
atəmz/ plural noun
trkŋ/ noun an advertising research
large items of income or expenditure test which involves recording the move-
which do not arise from normal trading ment of a person’s eyes as they look at
and which do not occur every year. an advertisement to see which parts are
They are shown separately on the profit of special interest 쑗 The eye-movement
and loss account after taxation, as op- test will tell us what to highlight in fu-
posed to exceptional items, which are ture advertisements.
calculated before the pre-tax profit. e-zine /i zin/ noun a publication on a
extrapolation /k
strpəleʃ(ə)n/ particular topic that is distributed regu-
noun a forecasting technique which in- larly in electronic form, mainly via the
volves projecting past trends into the fu- web but also by email
face-lift 106 factor analysis

face-lift /feslft/ noun an improve- facing page /fesŋ ped/ noun the
ment to the design of products and pack- page opposite
aging or of an organisation’s image 쑗 facsimile /fksml/ noun an exact
These products need a face-lift if they copy of a text or illustration
are going to retain their appeal.
fact /fkt/ noun a piece of information
face out /fes aυt/ adverb used to re- 쑗 The chairman asked to see all the
fer to the displaying of books on book- facts on the income tax claim. 쑗 The
shop shelves, showing the front cover sales director can give you the facts and
face-to-face selling /
fes tə fes figures about the African operation.
selŋ/ noun person-to-person or direct
selling, involving a meeting between fact book /fkt bυk/ noun data put
seller and buyer 쑗 Six months of together about a product on the market
face-to-face selling will give trainees di- that can be used for reference by the
rect experience of the market. 쑗 We producers or by an advertising agency
need confident outgoing people to do fact-finding mission /fkt
our face-to-face selling. fandŋ
mʃ(ə)n/ noun a visit by a per-
face value /fes vlju/ noun the son or group of people, usually to an-
value written on a coin, banknote or other country, to obtain information
share certificate about a specific issue 쑗 The minister
‘…travellers cheques cost 1% of their face value went on a fact-finding tour of the region.
– some banks charge more for small amounts’ factor /fktə/ noun 1. something
[Sunday Times]
which is important or which is taken
facia /feʃə/ noun another spelling of into account when making a decision 쑗
fascia The drop in sales is an important factor
facilities /fəsltiz/ plural noun ser- in the company’s lower profits. 쑗 Moti-
vices, equipment or buildings which vation was an important factor in draw-
make it possible to do something 쑗 ing up the new pay scheme. 2. a person
There are no facilities for unloading or who sells for a business or another per-
there are no unloading facilities. 쑗 Our son and earns a commission 쐽 verb to
storage facilities are the best in the re- buy debts from a company at a discount
gion. 쑗 Transport facilities in the area ‘…factors ‘buy’ invoices from a company,
are not satisfactory. 쑗 There are no fa- which then gets an immediate cash advance
representing most of their value. The balance is
cilities for disabled visitors. paid when the debt is met. The client company is
facility /fəslt/ noun 1. the total charged a fee as well as interest on the cash
amount of credit which a lender will al- advanced’ [Times]
low a borrower 2. US a single large factorage /fktərd/ noun a com-
building 쑗 We have opened our new mission earned by a factor 쑗 What per-
warehouse facility. centage is the factorage?
facing /fesŋ/ adjective opposite factor analysis /fktə ə
nləss/
facing matter /fesŋ
mtə/, fac- noun a process of identifying key fac-
ing text matter /
fesŋ tekst
mtə/ tors that influence the results in an atti-
noun an advertisement on a page oppo- tude research programme
site to one containing editorial matter
factoring 107 falling market

factoring /fktərŋ/ noun the busi- some items imported from their trading
ness of buying debts at a discount partners
factoring agent /fktərŋ fall /fɔl/ noun a sudden drop or loss of

edənt/ noun a person who sells for a value 쑗 a fall in the exchange rate 쑗 a
business or another person and earns a fall in the price of gold 쑗 a fall on the
commission Stock Exchange 쑗 Profits showed a
factoring charges /fktərŋ 10% fall. 쐽 verb 1. to drop suddenly to

tʃɑdz/ plural noun the cost of sell- a lower price 쑗 Shares fell on the mar-
ing debts to a factor for a commission ket today. 쑗 Gold shares fell 10% or fell
factory /fkt(ə)ri/ noun a building 45 cents on the Stock Exchange. 쑗 The
where products are manufactured 쑗 a price of gold fell for the second day run-
car factory 쑗 a shoe factory 쑗 The com- ning. 쑗 The pound fell against the euro.
pany is proposing to close three of its 2. to happen or to take place 쑗 The pub-
factories with the loss of 200 jobs. lic holiday falls on a Tuesday. 왍 pay-
ments which fall due payments which
factory gate price /
fkt(ə)r "et are now due to be made
pras/ noun the actual cost of manufac- ‘…market analysts described the falls in
turing goods before any mark-up is the second half of last week as a
added to give profit (NOTE: The factory technical correction to the market’
gate price includes direct costs such [AustralianFinancial Review]
as labour, raw materials, and energy, ‘…for the first time since mortgage rates
and indirect costs such as interest on began falling in March a financial institution
loans, plant maintenance or rent.) has raised charges on homeowner loans’
[Globe and Mail (Toronto)]
factory outlet /fkt(ə)r
aυtlet/ ‘…interest rates were still falling as late as June,
noun a shop where merchandise is sold and underlying inflation remains below the
direct to the public from the factory, government’s target of 2.5 per cent’
usually at wholesale prices [Financial Times]
factory unit /fkt(ə)ri
junt/ noun fall away /
fɔl əwe/ verb to become
a single building on an industrial estate less 쑗 Hotel bookings have fallen away
fact sheet /fkt ʃit/ noun a sheet of since the tourist season ended.
paper giving information about a prod- fall back /
fɔl bk/ verb to become
uct or service which can be used for lower or cheaper after rising in price 쑗
publicity purposes Shares fell back in light trading.
fad /fd/ noun a short-lived fashion or fall back on /
fɔl bk ɒn/ verb to
craze have to use something kept for emer-
failure /feljə/ noun not doing some- gencies 쑗 to fall back on cash reserves
thing which you promised to do 쑗 The management fell back on the
failure fee /feljə fi/ noun a fee usual old excuses.
charged by a distributor to the manufac- fall-back price /fɔl bk
pras/
turer of a product whose sales are less noun the lowest price which a seller will
than those agreed in advance accept 쑗 The buyer tries to guess the
fair /feə/ noun same as trade fair 쑗 seller’s fall-back price. 쑗 The fall-back
The computer fair runs from April 1st to price must not be any lower or there
6th. 쐽 adjective honest or correct won’t be any profit in the deal.
fair deal /feə dil/ noun an arrange- fall behind /
fɔl bhand/ verb to be
ment where both parties are treated late in doing something 쑗 They fell be-
equally 쑗 The workers feel they did not hind with their mortgage repayments.
get a fair deal from the management. falling /fɔlŋ/ adjective which is be-
fair price /feə pras/ noun a good coming smaller or dropping in price
price for both buyer and seller ‘…falling profitability means falling share
prices’ [Investors Chronicle]
fair trade /feə tred/ noun an interna-
tional business system where countries falling market /
fɔlŋ mɑkt/ noun
agree not to charge import duties on a market where prices are coming down
falling pound 108 fax

falling pound /
fɔlŋ paυnd/ noun aging will make for a clear company
the pound when it is losing its value image.
against other currencies fancy goods /fnsi "υdz/ plural
fall off /
fɔl ɒf/ verb to become noun small attractive items
lower, cheaper or less 쑗 Sales have fascia /feʃə/, facia noun 1. a board
fallen off since the tourist season ended. over a shop on which the name of the
fall out /
fɔl aυt/ verb 왍 the bottom shop is written 2. a board above an exhi-
has fallen out of the market sales have bition stand on which the name of the
fallen below what previously seemed to company represented is written
be their lowest point fast /fɑst/ adjective, adverb quick or
fall through /
fɔl θru/ verb not to quickly 쑗 The train is the fastest way of
happen or not to take place 쑗 The plan getting to our supplier’s factory. 쑗
fell through at the last moment. Home computers sell fast in the
pre-Christmas period.
false /fɔls/ adjective not true or not
correct 쑗 to make a false claim for a fast food /fɑst fυd/ noun food that
product can be cooked and sold quickly to cus-
tomers, often using franchises, e.g. ham-
false claim /fɔls klem/ noun an un- burgers and pizzas
true or exaggerated claim made in the
advertising of a product 쑗 A voluntary fastmarketing /fɑst
mɑktŋ/
control body was set up to discourage noun the concept of concentrating all
false claims in the advertising business. promotions into a short space of time, so
that customers cannot avoid being
false weight /fɔls wet/ noun affected
weight on a shop scales which is wrong ‘…fastmarketing tactics mark a radical
and so cheats customers departure from more traditional marketing.
falsification /
fɔlsfkeʃ(ə)n/ noun Instead of dotting commercials over a 4 or 5
week campaign, fastmarketers try to squeeze
the act of making false entries in them into just a few days’ [Times]
accounts
fast-moving consumer goods
falsify /fɔlsfa/ verb to change /
fɑst muvŋ kənsjumə "υdz/ plu-
something to make it wrong 쑗 They ral noun essential low-price goods
were accused of falsifying the accounts. which get repeat orders 쑗 He couldn’t
family /fm(ə)li/ noun 1. a group of work in FMCGs because his only expe-
products which are linked by a brand rience was in industrial selling. Abbr
name or by their packaging 2. a group of FMCGs
people, formed of parents and children fast-selling item /
fɑst selŋ
family branding /
fm(ə)li atəmz/ noun an item which sells
brndŋ/ noun the practice of selling a quickly
variety of different products under the favourable /fev(ə)rəb(ə)l/ adjective
same brand name which gives an advantage (NOTE: the
family life cycle /
fm(ə)li laf American spelling is favorable) 왍 on

sak(ə)l/ noun the stages through favourable terms on specially good
which consumers pass in their lives, as terms 쑗 The shop is let on very favour-
they have families, e.g. ‘young singles’, able terms.
‘young marrieds’, ‘young couples with favourable balance of trade
small children’, ‘couples with adoles- /
fev(ə)rəb(ə)l
bləns əv tred/
cent children still at home’ and ‘retired noun a situation where a country’s ex-
couples’, which correspond to different ports are larger than its imports
types of buying behaviour fax /fks/ noun 1. a system for sending
family packaging /
fm(ə)li the exact copy of a document via tele-
pkdŋ/ noun the practice of selling phone lines 쑗 Can you confirm the
a whole range of products in similar booking by fax? 2. a document sent by
packaging 쑗 We hope that family pack- this method 쑗 We received a fax of the
faxback 109 field work

order this morning. 쐽 verb to send a tivity which allows adjustments to be

message by fax 쑗 The details of the of- made to the way it is done in future 쑗
fer were faxed to the brokers this morn- We are getting positive feedback about
ing. 쑗 I’ve faxed the documents to our our after-sales service. 쑗 It would be
New York office. useful to have some feedback from peo-
faxback /fksbk/ noun a system of ple who had a test drive but didn’t buy
responding by fax, e.g. by downloading the car. 쑗 Are we getting any feedback
pages from a website direct to a fax ma- on customer reaction to our new
chine, or where customers dial a fax product?
number and get a fax back on their fax ‘…the service is particularly useful when we are
machine working in a crisis management area and we
need fast feedback from consumers’ [PR Week]
fear /fə/ noun the feeling of being
afraid field /fild/ noun 왍 in the field outside
fear appeal /fə ə
pil/ noun an ad- the office, among the customers 쑗 We
vertising message that makes the reader have sixteen reps in the field. 왍 first in
anxious about something, especially the field being the first company to
about not doing something bring out a product or to start a service
쑗 Smith Ltd has a great advantage in
feasibility report /
fizəblti r- being first in the field with a reliable

pɔt/ noun a document which says if it electric car.
is worth undertaking something
field of experience /
fild əv k-
feasibility study /
fizəblti
spərəns/ noun the general experience

st di/ noun the careful investigation of
a project to see whether it is worth un- that a sender and receiver of a message
dertaking 쑗 We will carry out a feasibil- use in considering the message
ity study to decide whether it is worth field research /fild r
s&tʃ/, field
setting up an agency in North America. work /fild w&k/ noun looking for in-
feasibility test /
fizəblti test/ formation that is not yet published and
noun a test to see if something is must be obtained in surveys 쑗 They had
possible to do a lot of fieldwork before they
found the right market for the product.
feature /fitʃə/ noun an article in a
쑗 Field research is carried out to gauge
newspaper or magazine that deals with
one subject in depth 쑗 There is a feature potential demand.
in the next issue describing the history field sales force /fild selz fɔs/
of our company. noun salespeople working outside the
features /fitʃəz/ plural noun the par- company’s offices, in the field 쑗 After
ticular important aspects of a product or working for a year in the field sales
service which are advertised as an at- force, she became field sales manager.
traction to the purchaser, as opposed to 쑗 The field sales force operates in three
‘benefits’ which show how the product main areas.
or service will improve the quality of field sales manager /fild selz
life of the purchaser
mndə/ noun the manager in charge
Federal Trade Commission of a group of salespeople
/
fed(ə)rəl tred kə
mʃ(ə)n/ noun a field trials /fild traəlz/, field tests
federal agency established to keep busi- /fild tests/ plural noun a test of a new
ness competition free and fair product or of something such as an ad-
feed /fid/ verb to give information or vertisement on real customers
tips to another salesperson regarding field work /fild w&k/ noun 1. an
promising customers or areas for sales 쑗 examination of the situation among pos-
I can feed you some interesting sales sible customers 쑗 They had to do a lot
leads. (NOTE: feeding- fed)
of field work to find the right market for
feedback /fidbk/ noun informa- the product. 2. same as field research
tion, especially about the result of an ac-
filing system 110 fine

filing system /falŋ
sstəm/ noun ment trust or insurance company whose
a way of putting documents in order for work involves lending or investing large
easy reference sums of money
filler /flə/ noun something which fills financially /fnnʃəli/ adverb re-
a space garding money 왍 a company which is
filter question /fltə
kwestʃən/ financially sound a company which is
noun a question in a questionnaire de- profitable and has strong assets
signed to separate respondents who are financial position /fa
nnʃəl pə-
worth questioning further from those zʃ(ə)n/ noun the state of a person’s or
who are not company’s bank balance in terms of as-
finance /fanns/ noun money used sets and debts 쑗 She must think of her fi-
by a company, provided by the share- nancial position.
holders or by loans 쑗 Where will they
get the necessary finance for the pro-
financial resources /fa
nnʃəl r-
ject? 쐽 verb to provide money to pay zɔsz/ plural noun supply of money
for something 쑗 They plan to finance for something 쑗 a company with strong
the operation with short-term loans. financial resources
‘…an official said that the company began to financial risk /fa
nnʃəl rsk/
experience a sharp increase in demand for noun the possibility of losing money 쑗
longer-term mortgages at a time when the flow The company is taking a considerable
of money used to finance these loans
diminished’ [Globe and Mail] financial risk in manufacturing 25 mil-
lion units without doing any market re-
Finance Act /fanns kt/ noun search. 쑗 There is always some
GB an annual Act of Parliament which
financial risk in selling on credit.
gives the government the power to ob-
tain money from taxes as proposed in financial statement /fa
nnʃəl
the Budget stetmənt/ noun a document which
finance department /fanns d- shows the financial situation of a com-

pɑtmənt/, finance committee pany 쑗 The accounts department has
/fanns kəmti/ noun the depart- prepared a financial statement for the
ment or committee which manages the shareholders.
money used in an organisation Financial Times Index /fa
nnʃəl
finance market /fanns
mɑkt/ tamz n
deks/ noun an index which
noun a place where large sums of shows percentage rises or falls in share
money can be lent or borrowed prices on the London Stock Exchange
finances /fannsz/ plural noun based on a small group of major
money or cash which is available 쑗 the companies
bad state of the company’s finances financier /fannsiə/ noun a person
financial /fannʃəl/ adjective con- who lends large amounts of money to
cerning money companies or who buys shares in com-
panies as an investment
financial advertising /fa
nnʃəl
dvətazŋ/ noun advertising by com- financing /fannsŋ/ noun the act
panies in the field of financial of providing money for a project 쑗 The
investment financing of the project was done by two
financial audit /fa
nnʃəl ɔdt/ international banks.
noun an examination of the books and find time /fand tam/ noun the time
accounts of an advertising agency taken by a customer to find what he or
financial correspondent /fa- she wants in a store

nnʃəl kɒrspɒndənt/ noun a jour- fine /fan/ adverb very thin or very
nalist who writes articles on money mat- small 왍 we are cutting our margins
ters for a newspaper very fine we are reducing our margins
financial institution /fa
nnʃəl to the smallest possible amount
ŋsttjuʃ(ə)n/ noun a bank, invest-
finished goods 111 fixed position

finished goods /fnʃt "υdz/ noun first mover /f&st muvə/ noun a
manufactured goods which are ready to person or company that is the first to
be sold launch a product in a market
fire-fight /faə fat/ verb to fight bad first mover advantage /f&st
publicity for a client 쑗 The agency has muvə əd
vɑntd/ noun the advan-
done fire-fighting work for the egg tage a company gets in being the first to
producers. enter a market
fire sale /faə sel/ noun 1. a sale of first-run syndication /
f&st r n
fire-damaged goods 2. a sale of any- sndkeʃ(ə)n/ noun material produced
thing at a very low price specifically for the syndication market
firm /f&m/ noun a company, business fishy-back freight /fʃi bk
fret/
or partnership 쑗 a manufacturing firm 쑗 noun US the transportation of trucks or
an important publishing firm 쑗 Shee is a freight-train cars on ferries or barges
partner in a law firm. 쐽 adjective 1. (NOTE: compare piggy-back freight)
which cannot be changed 쑗 to make a fix /fks/ verb 1. to arrange or to agree
firm offer for something 쑗 to place a 쑗 to fix a budget 쑗 to fix a meeting for 3
firm order for two aircraft 2. not drop- p.m. 쑗 The date has still to be fixed. 쑗
ping in price and possibly going to rise The price of gold was fixed at $300. 쑗
쑗 Sterling was firmer on the foreign ex- The mortgage rate has been fixed at 5%.
change markets. 쑗 Shares remained 2. to mend 쑗 The technicians are com-
firm. 쐽 verb to remain at a price and ing to fix the phone system. 쑗 Can you
seem likely to rise 쑗 The shares firmed fix the photocopier?
at £1.50. ‘…coupons are fixed by reference to interest
rates at the time a gilt is first issued’
‘…some profit-taking was noted, but underlying
[Investors Chronicle]
sentiment remained firm’ [Financial Times]
fixed /fkst/ adjective unable to be
firm price /f&m pras/ noun a price changed or removed
which will not change 쑗 They are quot-
ing a firm price of $1.23 a unit. fixed assets /fkst sets/ plural
noun property or machinery which a
firm up /f&m  p/ verb to agree on fi- company owns and uses, but which the
nal details 쑗 We expect to firm up the company does not buy or sell as part of
deal at the next trade fair. its regular trade, including the com-
first choice /f&st tʃɔs/ noun a pro- pany’s investments in shares of other
spective customer who chooses the first companies
option available, as opposed to a fixed break /fkst brek/ noun the
‘tyrekicker’ who wants to examine ev- placing of a television or radio adver-
ery option before coming to a decision tisement in a specific commercial break
first-hand /
f&st hnd/ adjective 1. on a specific day, at the advertiser’s
coming directly from the original source insistence
2. new or unused 쑗 I actually bought the fixed costs /fkst kɒsts/ plural noun
TV first-hand, but at a second-hand business costs which do not change with
price. the quantity of the product made
first-hand information /
f&st fixed expenses /fkst kspensz/
hnd nfəmeʃ(ə)n/ noun information plural noun expenses which do not vary
from an original source 쑗 We had a with different levels of production, e.g.
first-hand account of what happened at rent, secretaries’ salaries, insurance
the sales meeting from one of the fixed-fee arrangement /fkst fi
salesreps who was there. ə
rendmənt/ noun a way of agreeing
first-line management /
f&st lan the fees for an agency before the agency
mndmənt/ noun the managers who starts work on a project
have immediate contact with the fixed position /fkst pəzʃ(ə)n/
workforce noun the placing of an advertisement in
a specific location in a publication, or
fixed-price agreement 112 fly poster

running a commercial at a fixed time of flood /fl d/ noun a large quantity 쑗

day, at the advertiser’s insistence We received a flood of orders. 쑗 Floods
fixed-price agreement /fkst of tourists filled the hotels. 쐽 verb to fill
pras ə
"rimənt/ noun an agreement with a large quantity of something 쑗
where a company provides a service or a The market was flooded with cheap imi-
product at a price which stays the same tations. 쑗 The sales department is
for the whole period of the agreement flooded with orders or with complaints.
floor /flɔ/ noun 1. the part of the room
fixed rate /fkst ret/ noun a rate, which you walk on 2. all rooms on one
e.g. an exchange rate, which does not level in a building 쑗 The shoe depart-
change ment is on the first floor. 쑗 Her office is
‘…you must offer shippers and importers fixed
rates over a reasonable period of time’
on the 26th floor. (NOTE: In Britain the
[Lloyd’s List] floor at street level is the ground floor,
but in the USA it is the first floor. Each
fixed scale of charges /
fkst floor in the USA is one number higher
skel əv tʃɑdz/ noun a rate of than the same floor in Britain.)
charging which does not change
floor manager /flɔ
mndə/
fixed spot /fkst spɒt/ noun the noun US a person in charge of the sales
placing of a TV or radio commercial in staff in a department store
a specific position, at the advertiser’s floor space /flɔ spes/ noun an area
insistence of floor in an office or warehouse 쑗 We
fixing /fksŋ/ noun arranging 쑗 the have 3,500 square metres of floor space
fixing of charges 쑗 the fixing of a mort- to let.
gage rate floor stand /flɔ stnd/ noun a dis-
flagship /fl"ʃp/ noun the key play stand which stands on the floor, as
product in a range, on which the reputa- opposed to one which stands on a table
tion of the producer most depends or counter
flagship store /fl"ʃp stɔ/, flag- floorwalker /flɔwɔkə/ noun an em-
ship hotel /fl"ʃp həυ
tel/ noun the ployee of a department store who ad-
main store or hotel in a chain vises customers, and supervises the shop
flash pack /flʃ pk/ noun a pack assistants in a department
or package which shows a price reduc- flop /flɒp/ noun a failure or something
tion very clearly in order to attract cus- which has not been successful 쑗 The
tomers 쑗 Flash packs are displayed at new model was a flop. 쐽 verb to fail or
eye-level on the supermarket shelves to not be a success 쑗 The launch of the
attract the attention of passing new shampoo flopped badly. (NOTE:
customers. flopping – flopped)
flat rate /flt ret/ noun a charge flowchart /fləυtʃɑt/, flow diagram
which always stays the same 쑗 a /fləυ
daə"rm/ noun a chart which
flat-rate increase of 10% 쑗 We pay a shows the arrangement of work pro-
flat rate for electricity each quarter. 쑗 cesses in a series 왍 fluff it and fly it (in-
He is paid a flat rate of £2 per thousand. formal ) give a product an attractive
.

appearance and then sell it

flier /flaə/ noun a promotional leaflet
fluidity /fludti/ noun ease of move-
flight /flat/ verb to arrange a schedul- ment or change
ing pattern for something fluidity of labour /flu
dti əv
flighting by number /
flatŋ ba lebə/ noun the extent to which em-
n mbə/ noun scheduling things in a se- ployees move from one place to another
ries of groups, with the same number in to work or from one occupation to
each group another
floating population /
fləυtŋ fly poster /fla
pəυstə/ noun a
pɒpjυleʃ(ə)n/ noun people who move poster which is pasted to a site without
from place to place permission and without being paid for
fly-posting 113 foreign currency account

fly-posting /fla
pəυstŋ/ noun the forced consumption /fɔst

practice of sticking posters up illegally, kəns mpʃən/ noun the attempt to im-
without permission of the site owner pose a rate or type of consumption on
and without making any payment consumers
FMCGs abbr fast-moving consumer force down /
fɔs daυn/ verb to
goods make something such as prices become
focus group /fəυkəs "rup/ noun lower 왍 to force prices down to make
a group of people who are brought prices come down 쑗 Competition has
together to discuss informally a forced prices down.
market-research question forced sale /fɔst sel/ noun a sale
fold-out /fəυld aυt/ noun a folded which takes place because a court orders
page in a publication, which opens out it or because it is the only way to avoid a
to show a much larger advertisement financial crisis
follow /fɒləυ/ verb to come behind or force majeure /
fɔs m&/ noun
to come afterwards 쑗 The samples will something which happens which is out
follow by surface mail. 쑗 We will pay of the control of the parties who have
£10,000 down, with the balance to fol- signed a contract, e.g. a strike, war or
low in six months’ time. storm
follower /fɒləυə/ noun a company force up /
fɔs  p/ verb to make
which follows others into a market something become higher 왍 to force
following reading matter prices up to make prices go up 쑗 The
/
fɒləυŋ ridŋ
mtə/ noun a good war forced up the price of oil.
position for an advertisement, which forecast /fɔkɑst/ noun a descrip-
follows an interesting article in a news- tion or calculation of what will probably
paper or magazine happen in the future 쑗 The chairman did
follow up /fɒləυ p/ verb to examine not believe the sales director’s forecast
something further 쑗 I’ll follow up your of higher turnover. 쐽 verb to calculate
idea of targeting our address list with a or to say what will probably happen in
special mailing. 왍 to follow up an ini- the future 쑗 We are forecasting sales of
tiative to take action once someone else £2m. 쑗 Economists have forecast a fall
has decided to do something in the exchange rate. (NOTE: forecast-
ing – forecast)
font /fɒnt/ noun a set of characters all
of the same size and face forecasting /fɔkɑstŋ/ noun calcu-
lating what will probably happen in the
foot /fυt/ verb 왍 to foot the bill to pay future 쑗 Manpower planning will de-
the costs pend on forecasting the future levels of
footfall /fυtfɔl/ noun the number of production.
customers who come into and walk foreign /fɒrn/ adjective not belong-
round a shop ing to your own country 쑗 Foreign cars
‘…the small independent retailer who stocks up
using cash and carries could be hit hard by the have flooded our market. 쑗 We are in-
loss of footfall associated with any increase in creasing our trade with foreign
smuggled goods’ [The Grocer] countries.
force /fɔs/ noun 1. strength 왍 to be in ‘…a sharp setback in foreign trade accounted
for most of the winter slowdown’ [Fortune]
force to be operating or working 쑗 The
rules have been in force since 1986. 왍 to ‘…the dollar recovered a little lost ground on
the foreign exchanges yesterday’
come into force to start to operate or [Financial Times]
work 쑗 The new regulations will come
into force on January 1st. 2. a group of foreign currency /
fɒrn k rənsi/
people 쐽 verb to make someone do noun money of another country
something 쑗 Competition has forced the foreign currency account /
fɒrn
company to lower its prices. 쑗 After the k rənsi ə
kaυnt/ noun a bank account
takeover several of the managers were in the currency of another country, e.g. a
forced to take early retirement. dollar account in a British bank
foreign currency reserves 114 forward integration

foreign currency reserves /
fɒrn form /fɔm/ noun 1. 왍 form of words

k rənsi r
z&vz/ plural noun a coun- words correctly laid out for a legal doc-
try’s reserves held in currencies of other ument 왍 receipt in due form a correctly
countries written receipt 2. official printed paper
‘…the treasury says it needs the cash to rebuild with blank spaces which have to be
its foreign reserves which have fallen from $19 filled in with information 쑗 You have to
billion when the government took office to $7 fill in form A20. 쑗 Each passenger was
billion in August’ [Economist]
given a customs declaration form. 쑗 The
foreigner /fɒrnə/ noun a person reps carry pads of order forms.
from another country forma /fɔmə/ noun 쒁 pro forma
‘…a sharp setback in foreign trade accounted
for most of the winter slowdown’ [Fortune] format /fɔmt/ noun 1. the general
page design or size of a publication 2.
foreign exchange market1 /
fɒrn the general style of an email or elec-
kstʃend
mɑkt/ noun dealings in tronic marketing piece
foreign currencies 쑗 She trades on the
foreign exchange market. 쑗 Foreign ex-
form utility /fɔm ju
tlti/ noun a
use for a product created by the intro-
change markets were very active after
duction of the product
the dollar devalued.
forty-eight sheet /
fɔti et ʃit/
foreign exchange market2 noun noun a large poster-sized sheet of paper
market where people buy and sell for-
eign currencies forum /fɔrəm/ noun an online area
where Internet users can read, post, and
foreign exchange reserves /- respond to messages

fɒrn kstʃend r
z&vz/ plural
noun foreign money held by a govern- forward /fɔwəd/ adjective in ad-
ment to support its own currency and vance or to be paid at a later date 쐽 ad-
pay its debts verb 왍 to date a cheque forward to put
a later date than the present one on a
foreign exchange transfer /
fɒrn cheque 쐽 verb 왍 to forward something
kstʃend
trnsf&/ noun the send- to someone to send something to some-
ing of money from one country to one 쑗 to forward a consignment to Ni-
another geria 왍 ‘please forward’ or ‘to be
foreign goods /fɒrn "υdz/ plural forwarded’ words written on an enve-
noun goods manufactured in other lope, asking the person receiving it to
countries send it on to the person whose name is
foreign investments /
fɒrn n- written on it
vestmənts/ plural noun money in- forward contract /
fɔwəd
vested in other countries kɒntrkt/ noun a one-off agreement
to buy foreign currency or shares or
forfeit /fɔft/ noun the taking away
commodities for delivery at a later date
of something as a punishment 왍 the
at a specific price
goods were declared forfeit the court
said that the goods had to be taken away forwarding /fɔwədŋ/ noun the act
from the person who was holding them of arranging shipping and customs
쐽 verb to have something taken away as documents
a punishment 왍 to forfeit a deposit to forwarding address /fɔwədŋ
lose a deposit which was left for an item ə
dres/ noun the address to which a per-
because you have decided not to buy son’s mail can be sent on
that item forwarding agent /fɔwədŋ
forfeit clause /fɔft klɔz/ noun a
edənt/ noun a person or company
clause in a contract which says that which arranges shipping and customs
goods or a deposit will be taken away if documents
the contract is not obeyed forward integration /
fɔwəd ntə-
forfeiture /fɔftʃə/ noun the act of "reʃ(ə)n/ noun a process of expansion
forfeiting a property in which a company becomes its own
forward market 115 franchise chain

distributor or takes over a company in marketing mix, which are Product,

the same line of business as itself 쑗 For- Price, Promotion and Place
ward integration will give the company fraction /frkʃən/ noun a part of a
greater control over its selling. 쑗 For- whole
ward integration has brought the com-
pany closer to its consumers and has fragile /frdal/ adjective which can
made it aware of their buying habits. be easily broken 쑗 There is an extra
Compare backward integration premium for insuring fragile goods in
shipment.
forward market /
fɔwəd mɑkt/ fragment /fr"ment/ verb to split
noun a market for purchasing foreign into sections
currency, oil or commodities for deliv- ‘…the consumer market is fragmenting, which
ery at a later date. These are one-off means that brand advertising to the whole
deals, as opposed to futures contracts market is no longer enough’ [Financial Times]
which are continuous. fragmentation /
fr"mənteʃ(ə)n/
forward price /fɔwəd pras/ noun noun the use of a variety of media for a
a price of goods which are to be deliv- publicity campaign
ered in the future fragmented market /fr"
mentd
forward (exchange) rate /
fɔwəd mɑkt/ noun a market which is split
kstʃend ret/ noun a rate for pur- into many small segments, which are
chase of foreign currency at a fixed more difficult to sell into
price for delivery at a later date 쑗 What frame /frem/ noun same as sampling
are the forward rates for the pound? frame
forward sales /fɔwəd selz/ plural franchise /frntʃaz/ noun a licence
noun the sales of shares, commodities to trade using a brand name and paying
or foreign exchange for delivery at a a royalty for it 쑗 He’s bought a printing
later date franchise or a pizza franchise. 쐽 verb to
foul bill of lading /
faυl bl əv sell licences for people to trade using a
ledŋ/ noun a bill of lading which says brand name and paying a royalty 쑗 His
that the goods were in bad condition sandwich bar was so successful that he
when received by the shipper decided to franchise it.
‘…many new types of franchised businesses
four-colour process /
fɔ k lə will join the ranks of the giant chains of
prəυses/ noun a printing process fast-food restaurants, hotels and motels and
where the three primary colours and rental car agencies’ [Franchising Opportunities]
black are used to create a wide range of ‘…a quarter of a million Britons are seeking to
shades become their own bosses by purchasing
franchises’ [Marketing Week]
four Cs /fɔ siz/ plural noun a simple ‘…feelings are already running high over the
way of referring to the four important question of how to allocate the next TV
points regarding customers: value to the franchises’ [Marketing]
Customer, Cost, Convenience for the franchise agreement /frntʃaz
customer and Communication between ə
"rimənt/, franchise contract
seller and buyer /frntʃaz
kɒntrkt/ noun a legal
four O’s /fɔ əυz/ plural noun a sim- contract to trade using a brand name and
ple way of summarizing the essentials paying a royalty for it
of a marketing operation, which are Ob- franchise-building promotion
jects, Objectives, Organisation and /frntʃaz
bldŋ prə-
Operations
məυʃ(ə)n/noun a sales promotion
four-plus cover /fɔ pl s
k və/ aimed at building up long-term repeat
noun a situation where consumers in the sales and customer loyalty
target audience will have seen an adver- franchise chain /frntʃaz tʃen/
tisement at least four times on average noun a series of retail stores or fast-food
four P’s /fɔ piz/ plural noun a simple outlets which are operated as franchises
way of summarising the essentials of the from the main operator
franchisee 116 freephone

franchisee /
frntʃazi/ noun a free advertisement for the charity on the

person who runs a franchise back page.
franchiser /frntʃazə/ noun a per- freebie /fribi/ noun a product or ser-
son who licenses a franchise vice supplied free of charge, especially a
franchising /frntʃazŋ/ noun the gift to an agent or journalist (informal )
.

act of selling a licence to trade as a fran- free collective bargaining /
fri

chise 쑗 He runs his sandwich chain as a kə
lektv bɑ"nŋ/ noun negotiations
franchising operation. between management and trade unions
about wage increases and working
franchisor /frntʃazə/ noun an- conditions
other spelling of franchiser
free competition /
fri kɒmpə-
franco /frŋkəυ/ adverb free tʃ(ə)n/ noun being free to compete
fraudulent misrepresentation without government interference
/
frɔdjυlənt ms
reprzenteʃ(ə)n/ free currency /fri k rənsi/ noun a
noun the act of making a false statement currency which is allowed by the gov-
with the intention of tricking a customer ernment to be bought and sold without
free /fri/ adjective, adverb 1. not cost- restriction
ing any money 쑗 I have been given a free delivery area /fri dlv(ə)ri
free ticket to the exhibition. 쑗 The price
eəriə/ noun an area within which a
includes free delivery. 쑗 All goods in the seller will deliver purchases free 쑗 The
store are delivered free. 쑗 A catalogue total price will be low as the goods are
will be sent free on request. 왍 free being delivered in a free delivery area.
alongside ship referring to a price that
includes all costs up to delivery of
free enterprise /
fri entəpraz/
noun a system of business free from
goods next to the ship on the quay 왍
government interference
free docks referring to a price that in-
cludes all costs up to delivery of goods free gift /fri "ft/ noun a present
to the docks 왍 free of charge with no given by a shop to a customer who buys
payment to be made 왍 free on quay re- a specific amount of goods 쑗 There is a
ferring to a price that includes all costs free gift worth £25 to any customer buy-
up to delivery of goods next to the ship ing a washing machine.
on the quay 왍 free overboard or free free market /fri mɑkt/ noun a
overside referring to a price that in- market in which there is no government
cludes all costs up to arrival of the ship control of supply and demand, and the
at a port 2. with no restrictions 왍 free of rights of individuals and organisations
tax with no tax having to be paid 쑗 in- to physical and intellectual property are
terest is paid free of tax 왍 free of duty upheld
with no duty to be paid 쑗 to import wine free market economy /fri
mɑkt
free of duty 3. not busy or not occupied kɒnəmi/ noun a system where the
쑗 Are there any free tables in the res- government does not interfere in busi-
taurant? 쑗 I shall be free in a few min- ness activity in any way
utes. 쑗 The chairman always keeps
Friday afternoon free for a game of free on board /
fri ɒn bɔd/ 1. in-
bridge. 쐽 verb to make something avail- cluding in the price all the seller’s costs
able or easy 쑗 The government’s deci- until the goods are on the ship for trans-
sion has freed millions of pounds for portation. Abbr f.o.b. 2. including in the
investment. price all the seller’s costs until the goods
‘American business as a whole is increasingly
are delivered to a place
free from heavy dependence on manufacturing’ free paper /fri pepə/ noun a news-
[Sunday Times] paper which is given away free, and
free advertisement /fri əd- which relies for its income on its
v&tsmənt/ noun an advertisement advertising
shown without any charge to the adver- freephone /frifəυn/, freefone noun
tiser 쑗 The newspaper agreed to place a a system where you can telephone to re-
free port 117 frequency discount

ply to an advertisement, to place an or- 왍 to take on freight to load goods onto

der or to ask for information and the a ship, train or truck 쐽 verb 왍 to freight
seller pays for the call goods to send goods 쑗 We freight goods
free port /fri pɔt/ noun a port to all parts of the USA.
where there are no customs duties to be freightage /fretd/ noun the cost
paid of transporting goods
freepost /fripəυst/ noun a system freight collect /fret kəlekt/ noun
where someone can write to an adver- US an arrangement whereby the cus-
tiser to place an order or to ask for infor- tomer pays for transporting the goods
mation to be sent, without paying for a freight costs /fret kɒsts/ plural
stamp. The company paying for the noun money paid to transport goods
postage on receipt of the envelope. freight depot /fret
depəυ/ noun a
free sample /fri sɑmpəl/ noun a central point where goods are collected
sample given free to advertise a product before being shipped
free-standing insert /
fri stndŋ freight elevator /fret
eləvetə/
ns&t/ noun advertising material on noun a strong lift for carrying goods up
one or more pages which is inserted into and down inside a building
a newspaper. Abbr FSI freighter /fretə/ noun 1. an aircraft
free trade /fri tred/ noun a system or ship which carries goods 2. a person
where goods can go from one country to or company that organiess the transport
another without any restrictions of goods
‘…can free trade be reconciled with a strong freight forward /fret fɔwəd/ noun
dollar resulting from floating exchange rates?’
[Duns Business Month] a deal where the customer pays for
transporting the goods
free trader /fri tredə/ noun a per-
son who is in favour of free trade freight forwarder /fret
fɔwədə/
‘…free traders hold that the strong dollar is the noun a person or company that arranges
primary cause of the nation’s trade problems’ shipping and customs documents for
[Duns Business Month] several shipments from different compa-
free trade zone /fri tred
zəυn/ nies, putting them together to form one
noun an area where there are no cus- large shipment
toms duties ‘…the airline will allow freight forwarder
customers to track and trace consignments on
free trial /fri traəl/ noun an oppor- the airline’s website’ [Lloyd’s List]
tunity to test a machine or product with freight plane /fret plen/ noun an
no payment involved aircraft which carries goods, not
freeware /friweə/ noun free soft- passengers
ware programs frequency /frikwəns/ noun 1. the
freeze /friz/ verb to keep something number of times something happens 2.
such as money or costs at their present the number of times an advertisement
level and not allow them to rise 쑗 to appears in a specific period 쑗 The plan
freeze wages and prices 쑗 to freeze is to have larger advertisements but less
credits 쑗 to freeze company dividends 쑗 frequency. 3. the number of times a per-
We have frozen expenditure at last son sees an advertisement during a cam-
year’s level. (NOTE: freezing – froze – paign 쑗 We feel that a frequency of two
has frozen) showings per night is enough for the
freeze out /
friz aυt/ verb 왍 to first week of the campaign.
freeze out the competition to trade suc- frequency analysis /frikwənsi ə-
cessfully and cheaply and so prevent
nləss/ noun analysis of frequency
competitors from operating distribution statistics
freight /fret/ noun 1. the cost of frequency discount /frikwənsi
transporting goods by air, sea or land 쑗
dskaυnt/ noun reduced rates offered
At an auction, the buyer pays the for frequent use of a advertising
freight. 2. goods which are transported medium
frequency distribution 118 full cover

frequency distribution front end /fr nt end/ noun the part

/frikwənsi dstr
bjuʃ(ə)n/ noun of an organisation that meets and deals
statistics, usually in the form of a graph, with customers face-to-face
showing how often a sample group re- front-line management /
fr nt
sponded in a certain way to a lan mndmənt/ noun managers
questionnaire who have immediate contact with the
frequent /frikwənt/ adjective which workers
comes, goes or takes place often 쑗 frontload /fr ntləod/ verb to plan a
There is a frequent ferry service to publicity campaign where most costs
France. 쑗 We send frequent faxes to are incurred in the early stages. Com-
New York. 쑗 How frequent are the pare backload
planes to Birmingham?
front man /fr nt mn/ noun a per-
frequently /frikwəntli/ adverb of- son who seems honest but is hiding an
ten 쑗 The photocopier is frequently out illegal trade
of use. 쑗 We email our New York office
frequently – at least four times a day. front of book /
fr nt əv bυk/ noun
the first few pages of a magazine
fringe account /frnd ə
kaυnt/
noun accounts or customers that are not FSI abbr free-standing insert
very profitable for the supplier 쑗 The fudge /f d/ noun a mistake made in
salespeople are not giving priority to an advertisement
these fringe accounts. 쑗 It is hoped that fulfil /fυlfl/ verb to complete some-
some of these fringe accounts will soon thing in a satisfactory way 쑗 The clause
start buying in larger quantities. regarding payments has not been ful-
fringe benefit /frnd benft/ noun filled. (NOTE: the American spelling is
an extra item given by a company to fulfill) 왍 to fulfil an order to supply the
employees in addition to their salaries, items which have been ordered 쑗 We
e.g. a company car, private health are so understaffed that we cannot fulfil
insurance any more orders before Christmas.
fringe benefits /frnd benftz/ fulfilment /fυlflmənt/ noun carry-
plural noun extra items given by a com- ing something out in a satisfactory way
pany to workers in addition to a salary, (NOTE: the American spelling is
e.g. company cars or private health in- fulfillment)
surance 쑗 The fringe benefits make up fulfilment house /fυlflmənt haυs/
for the poor pay. 쑗 Use of the company noun a company which supplies orders
recreation facilities is one of the fringe on behalf of a mail-order company
benefits of the job.
full /fυl/ adjective 1. complete, includ-
fringe time /frnd tam/ noun TV ing everything 왍 we are working at full
time around primetime where there is capacity we are doing as much work as
usually more availability possible 2. 왍 in full completely 쑗 Give
front /fr nt/ noun a part of something your full name and address or your
which faces away from the back 쑗 The name and address in full. 쑗 He accepted
front of the office building is on the all our conditions in full. 쑗 Full refund
High Street. 쑗 Our ad appeared on the or refund paid in full.
front page of the newspaper. 쑗 There is full cost pricing /
fυl kɒst prasŋ/
a photograph of the managing director noun a pricing method based on assess-
on the front page of the company report. ing the full production cost of each
frontage /fr ntd/ noun the width product unit and adding a profit margin
of a shop which faces onto the street full costs /fυl kɒsts/ plural noun all
front cover /fr nt k və/ noun the the costs of manufacturing a product, in-
front outside page of a publication, as cluding both fixed and variable costs
opposed to the back cover full cover /fυl k və/ noun insurance
cover against all risks
full employment 119 futurology

full employment /fυl mplɔmənt/ week 쑗 She’s in full-time work or She

noun a situation where all the people works full-time or She’s in full-time em-
who can work have jobs ployment. 쑗 He is one of our full-time
full-function wholesaler /
fυl staff.
f ŋkʃ(ə)n həυlselə/ noun a distribu- full-timer /fυl tamə/ noun a person
tor performing all the normal functions who works full-time
of a wholesaler such as storage and
transport 쑗 There is room for only one function /f ŋkʃən/ noun a duty or
full-function wholesaler dealing with job 쐽 verb to work 쑗 The advertising
this product in the Southampton area. campaign is functioning smoothly. 쑗
The new management structure does not
full-line forcing /
fυl lan fɔsŋ/ seem to be functioning very well.
noun a situation where a supplier pres-
sures a customer to buy from that sup- functional /f ŋkʃən(ə)l/ adjective
plier only 쑗 If the supplier succeeds in which can function properly
full-line forcing, he will probably raise functional consequences /@n(ə)l
prices. kɒnskwensz/ plural noun the tangi-
full nester /fυl nestə/ noun an older ble effects of a product or service which
customer who has their own home and a customer experiences directly
who is interested in a good quality of functional discount /
f ŋkʃən(ə)l
life, eats in restaurants, buys new gad- dskaυnt/ noun a discount offered on
gets, and is not influenced by advertis- goods sold to distributors
ing. 쏡 empty nesters functional product differentia-
full page /fυl ped/ noun a size of tion /
f ŋkʃən(ə)l prɒd kt
advertisement taking up one complete dfərenʃi
eʃ(ə)n/ noun the process of
page ensuring that a product has some func-
full price /fυl pras/ noun a price tional features that distinguish it from
with no discount 쑗 She bought a competing ones
full-price ticket. functional title /f ŋkʃən(ə)l
full rate /fυl ret/ noun the full
tat(ə)l/ noun a job title, the descrip-
charge, with no reductions tion of a person’s job which is used as
full repairing lease /fυl rpeərŋ part of his or her address, e.g.‘marketing
lis/ noun a lease where the tenant has to manager’ or ‘head buyer’
pay for all repairs to the property fund /f nd/ noun money set aside for a
full-scale /fυl skel/ adjective com- special purpose
plete or very thorough 쑗 The MD or- ‘…small innovative companies have been
hampered for lack of funds’ [Sunday Times]
dered a full-scale review of credit terms.
‘…the administration launched a full-scale ‘…the company was set up with funds totalling
investigation into maintenance procedures’ NorKr 145m’ [Lloyd’s List]
[Fortune]
funded debt /
f ndd det/ noun the
full-service advertising agency part of the British National Debt which
/
fυl s&vs dvətazŋ
edənsi/, pays interest, but with no date for repay-
full-service agency /fυl
s&vs ment of the principal
edənsi/ noun an advertising agency
offering a full range of services such as future /fjutʃə/ adjective referring to
sales promotion, design of house style, time to come or to something which has
advice on public relations and market not yet happened 쐽 noun the time which
research and creating stands for exhibi- has not yet happened 쑗 Try to be more
tions 쑗 We have so little marketing ex- careful in future. 쑗 In future all reports
pertise, we’ll need a full-service must be sent to Australia by air.
advertising agency. future delivery /
fjutʃə dlv(ə)ri/
full-time /fυl tam/ adjective, adverb noun a delivery at a later date
working all the normal working time, futurology /
fjutʃərɒlədi/ noun
i.e. about eight hours a day, five days a the prediction and study of future trends
gable end 120 general store

gable end /"eb(ə)l end/ noun the 쑗 to look for or to find a gap in the mar-
end of a building which is used as a ket 쑗 This laptop has filled a real gap in
poster site the market.
gain /"en/ noun 1. an increase or be- ‘…these savings are still not great enough to
overcome the price gap between American
coming larger 왍 gain in experience the products and those of other nations’
act of getting more experience 왍 gain in [Duns Business Month]
profitability the act of becoming more
profitable 2. an increase in profit, price gap analysis /"p ə
nləss/ noun
or value 쑗 Oil shares showed gains on analysis of a market to try to find a par-
the Stock Exchange. 쑗 Property shares ticular area that is not at present being
put on gains of 10%-15%. 쐽 verb 1. to satisfied 쑗 Gap analysis showed that
get or to obtain 쑗 He gained some useful there was a whole area of the market we
experience working in a bank. 왍 to gain were not exploiting. 쑗 The computer
control of a business to buy more than performed a gap analysis and came up
50% of the shares so that you can direct with suggestions for a medium-priced
the business 2. to rise in value 쑗 The machine suitable for the small business
dollar gained six points on the foreign market.
exchange markets. gatefold /"etfəυld/ noun a
galleria /
"ləriə/ noun a large double-page spread in which both pages
shopping complex with many different are folded over, and which open out like
stores under one roof, usually built a gate to give a spread of almost four
round a large open space, with foun- pages
tains, plants, etc. general cargo /
den(ə)rəl kɑ"əυ/
galley /"li/, galley proof /"li/ noun a cargo made up of various types
noun the first proof of typesetting, be- of goods 쑗 The ship left the port with a
fore the text is made up into pages general cargo bound for various
destinations.
galloping inflation /
"ləpŋ n-
fleʃ(ə)n/ noun very rapid inflation General Delivery /
den(ə)rəl d-
which is almost impossible to reduce lv(ə)ri/ noun US a system where let-
ters can be addressed to someone at a
game /"em/ noun a form of promo- post office, where they can be collected
tional material where people have a 쑗 They received the mail-order items
chance of winning a prize via General Delivery. (NOTE: British
game theory /"em
θər/ noun the English is poste restante)
principles, developed from business general preplanning input
games, which relate to making the best /
den(ə)rəl priplnŋ
npυt/ noun
choice from a number of possible strate- market research which can be used to
gies in various hypothetical situations prepare the initial stages of an advertis-
where conflicting interests are involved ing campaign
gap /"p/ noun an empty space 왍 gap general store /den(ə)rəl stɔ/
in the market an opportunity to make a noun a small country shop which sells a
product or provide a service which is large range of goods
needed but which no one has sold before
general trading 121 gift coupon

general trading /
den(ə)rəl a market are concentrated dispersed in a

tredŋ/ noun dealing in all types of country or area 쑗 The number of
goods salespersonnel needed will depend on
general wholesaler /
den(ə)rəl the geographical concentration of the
həυlselə/ noun a wholesaler selling a market.
variety of goods geographical information sys-
generation /
denəreʃ(ə)n/ noun a tem /diə
"rfk(ə)l nfəmeʃ(ə)n
stage in the development of a product.
sstəm/ noun a type of database which
Each new generation is a new version of is sorted on geographical data, such as a
the product with certain technical im- census, or one which provides maps
provements on the preceding version. on-screen. Abbr GIS
Generation X /
denəreʃ(ə)n eks/ geographical segmentation
noun the generation of people who were /diə
"rfk(ə)l
se"mənteʃ(ə)n/
born between 1963 and 1981 and began noun the division of a market according
their working lives from the 1980s on- to areas or regions
wards (NOTE: The people who belong geographical weighting /diə-
to Generation X are said to have chal-
"rfk(ə)l wetŋ/ noun a statistical
lenged traditional corporate expecta- process which gives more importance to
tions by not being solely motivated by some geographic areas than others in the
money. Instead they want to establish process of reaching a final figure or
a balance between their professional result
and personal lives, being in favour of
gestation period /desteʃ(ə)n
flexible working practices and valuing

pəriəd/ noun the period of time
opportunities for learning and
between the initial inquiry about a
self-advancement.)
product and the placing of an order 쑗
generic /dənerk/ adjective which The long gestation period is due to
is shared by a group, and does not refer inefficient decision-making procedures
to one individual 쐽 noun 1. a product in the buying company.
sold without a brand name 쑗 Generics
GHI abbr guaranteed homes
are cheap since they have no name to
impressions
advertise. 2. a brand name which is now
given to a product rather than to a par- ghosting /"əυstŋ/ noun the practice
ticular brand, e.g. hoover, kleenex or of showing a little of the product itself
thermos by removing a small part of the
generic product /də
nerk
packaging
prɒd kt/ noun same as generic 쑗 GHR abbr guaranteed homes ratings
Next to the brightly packaged branded giant retailer /
daənt ritelə/
goods the generic products on display noun a very large retailing group, e.g. a
were easily overlooked. department store or chain store
gentleman’s agreement GIF /"f/ noun a common file format
/
dent(ə)lmənz ə"rimənt/ noun a for web graphics and banners. Full form
verbal agreement between two parties graphic interchange format
who trust each other
GIF89 /
"f eti nan/ noun a com-
geocentric stage /
diəυsentrk monly used version of GIF
sted/ noun US an advanced stage in a
company’s international marketing gift coupon /"ft
kupɒn/, gift to-
ken /"ft
təυkən/, gift voucher
when there is great co-ordination of
/"ft
vaυtʃə/ noun a card that can be
overseas marketing activities
used to buy specified goods up to the
geographical /
diə"rfk(ə)l/ ad- value printed on it, often issued by chain
jective referring to an area stores. The person receiving the voucher
geographical concentration is able to redeem it in any store in the
/diə
"rfk(ə)l
kɒnsəntreʃ(ə)n/ chain. 쑗 We gave her a gift token for her
noun the degree to which consumers in birthday.
gift-wrap 122 goods

gift-wrap /"ft rp/ verb to wrap a global product /
"ləυb(ə)l

present in attractive paper 쑗 Do you prɒd kt/ noun a product with a fa-
want this book gift-wrapped? (NOTE: mous brand name which is recognised
gift-wrapping- gift-wrapped) and sold all over the world
gimmick /"mk/ noun a clever idea global retailer /
"ləυb(ə)l ritelə/
or trick 쑗 a publicity gimmick noun a company which sells its products
all over the world
give away /
"v əwe/ verb to give
something as a free present 쑗 We are glue /"lu/ noun something such as in-
giving away a pocket calculator with formation that unifies organisations,
each £10 of purchases. supply chains and other commercial
groups
giveaway /"vəwe/ adjective 왍 to
sell at giveaway prices to sell at very glut /"l t/ noun 왍 a glut of produce
cheap prices 쐽 noun something which is too much produce, which is then diffi-
given as a free gift when another item is cult to sell 쑗 a coffee glut or a glut of
bought coffee 왍 a glut of money a situation
where there is too much money avail-
giveaway paper /"vəwe
pepə/ able to borrowers 쐽 verb to fill the mar-
noun a newspaper which is given away ket with something which is then
free, and which relies for its income on difficult to sell 쑗 The market is glutted
its advertising with cheap cameras. (NOTE: glutting –
global /"ləυb(ə)l/ adjective referring glutted)
to the whole world 쑗 We offer a 24-hour goal /"əυl/ noun something which you
global delivery service. try to achieve 쑗 Our goal is to break
global advertising /
"ləυb(ə)l even within twelve months. 쑗 The com-
dvətazŋ/ noun using the same ad- pany achieved all its goals.
vertising message to advertise the same going rate /
"əυŋ ret/ noun the
product internationally usual or current rate of payment 쑗 We
global brand /
"ləυb(ə)l brnd/ pay the going rate for typists. 쑗 The go-
noun a famous brand name which is re- ing rate for offices is £10 per square
cognised and sold all over the world metre.
globalisation /
"ləυbəlazeʃ(ə)n/, gondola /"ɒndələ/ noun a
globalization noun the process of mak- free-standing display in a supermarket
ing something international or world- which shoppers can walk round
wide, especially the process of gone aways /"ɒn ə
wez/ plural
expanding business interests, operations noun people who have moved away
and strategies to countries all over the from the address they have in a mailing
world (NOTE: Globalisation is due to list
technological developments that make good industrial relations /"υd
global communications possible, politi- n
d striəl rleʃ(ə)nz/ plural noun
cal developments such as the fall of a situation where management and
communism and developments in employees understand each others’
transportation that make travelling problems and work together for the
faster and more frequent. It can benefit good of the company
companies by opening up new mar- goods /"υdz/ plural noun 1. 왍 goods
kets, giving access to new raw materi- and chattels moveable personal posses-
als and investment opportunities and sions 왍 goods in progress the value of
enabling them to take advantage of goods being manufactured which are
lower operating costs in other coun- not complete at the end of an accounting
tries.) period 쑗 Our current assets are made
global marketing /
"ləυb(ə)l up of stock, goods in progress, and cash.
mɑktŋ/ noun using a common mar- 왍 goods sold loose goods sold by
keting plan to sell the same product or weight, not prepacked in bags 2. items
services everywhere in the world which can be moved and are for sale
goods depot 123 green marketing

‘…profit margins are lower in the industries written on a label attached to the prod-
most exposed to foreign competition – uct 쑗 Many consumers do not properly
machinery, transportation equipment and
electrical goods’ [Sunday Times] understand the grade levels.
‘…the minister wants people buying goods grand /"rnd/ adjective important 왍
ranging from washing machines to houses to grand plan or grand strategy a major
demand facts on energy costs’ [Times]
plan 쑗 They explained their grand plan
goods depot /"υdz
depəυ/ noun a for redeveloping the factory site. 쐽
central warehouse where goods can be noun one thousand pounds or dollars
stored until they are moved (informal ) 쑗 They offered him fifty
.

goods train /"υdz tren/ noun a grand for the information.

train for carrying freight grand total /"rnd təυt(ə)l/ noun
goodwill /"υdwl/ noun good feeling the final total made by adding several
towards someone 쑗 to show goodwill, subtotals
the management increased the terms of grapevine /"repvan/ noun an in-
the offer formal and unofficial communications
GOTS abbr gross opportunity to see network within an organisation that
government contractor passes on information by word of mouth
/
" v(ə)nmənt kəntrktə/ noun a (NOTE: A grapevine may distort infor-
company which supplies the govern- mation or spread gossip and rumour,
ment with goods by contract but it can also back up the official com-
munications network, provide feed-
government-controlled back and strengthen social
/
" vnmənt kəntrəυld/ adjective un-
relationships within the organisation.)
der the direct control of the government
쑗 Advertisements cannot be placed in graph /"rɑf/ noun a diagram which
the government-controlled newspapers. shows the relationship between two sets
government economic indica- of quantities or values, each of which is
tors /
" v(ə)nmənt ikə
nɒmk represented on an axis 쑗 A graph was
ndketəz/ plural noun statistics used to show salary increases in rela-
which show how the country’s economy tion to increases in output. 쑗 According
is going to perform in the short or long to the graph, as average salaries have
term risen so has absenteeism. 쑗 We need to
set out the results of the questionnaire in
government organisation a graph.
/
" v(ə)nmənt
ɔ"ənazeʃ(ə)n/
noun an official body, run by the graphics /"rfks/ plural noun de-
government signs and illustrations in printed work,
especially designs which are created by
grade /"red/ noun a level or rank 쑗 to computers 쑗 In this series of advertise-
reach the top grade in the civil service 쐽 ments the graphics do not do justice to
verb 1. to sort something into different the copy.
levels of quality 쑗 to grade coal 2. to
make something rise in steps according graph paper /"rɑf
pepə/ noun a
to quantity 왍 graded advertising rates special type of paper with many little
rates which become cheaper as you take squares, used for drawing graphs
more advertising space gratis /"rts/ adverb free or not
graded hotel /
"redd həυtel/ costing anything 쑗 We got into the exhi-
noun a good-quality hotel bition gratis.
graded tax /
"redd tks/ noun US green issues /"rin sjuz/ plural
1. a tax which rises according to income noun same as environmental
2. a tax on property which is higher if management
the property has not been kept in a good green marketing /"rin
mɑktŋ/
state by the owner noun marketing products and services
grade level /"red
lev(ə)l/ noun the on the basis of their environmental
classification of a product’s quality acceptability
grey market 124 group

grey market /"re
mɑkt/ noun 1. dollar down on foreign exchange markets’
[Fortune]
the unofficial legal buying and selling of
scarce, highly priced goods 쑗 If the gov- gross opportunity to see noun the
ernment puts a ceiling on prices for number of opportunities that an average
these products the grey market will be- member of the target audience will have
come a black market. 2. a market to see the advertisements in an advertis-
formed of people over 60 years of age. 쏡 ing campaign. Abbr GOTS
silver market gross profit /"rəυs prɒft/ noun
grid /"rd/ noun a graph with lines profit calculated as sales income less the
crossing at right angles and items writ- cost of the goods sold, i.e. without de-
ten in the boxes, used for comparison ducting any other expenses
gross /"rəυs/ adverb with no deduc- gross rating point /"rəυs retŋ
tions 쑗 My salary is paid gross. 쐽 verb pɔnt/ noun US a way of calculating the
to make a gross profit 쑗 The group effectiveness of outdoor advertising,
grossed £25m in 1999. where each point represents one per cent
gross audience /"rəυs ɔdiəns/ of the population in a specific market.
noun the total number of people who
Abbr GRP
have seen an advertisement, multiplied gross reach /"rəυs ritʃ/ noun the
by the number of times it has been run total number of opportunities for people
to see a company’s advertisements in a
gross circulation /"rəυs
s&kjυ- campaign, i.e. the total number of publi-
leʃ(ə)n/ noun the total sales of a cations sold multiplied by the number of
publication before adjusting for error or advertisements appearing in each one
discounting unsold copies
gross receipts /"rəυs rsits/ plural
gross cover /"rəυs k və/ noun the noun the total amount of money re-
number of times a television or radio ceived before expenses are deducted
spot has been seen based on television
ratings gross sales /"rəυs selz/ plural
noun money received from sales before
gross domestic product /"rəυs deductions for goods returned, special
də
mestk prɒd kt/ noun the annual discounts, etc. 쑗 Gross sales are im-
value of goods sold and services paid pressive since many buyers seem to be
for inside a country. Abbr GDP ordering more than they will eventually
gross earnings /"rəυs &nŋz/ need.
plural noun total earnings before tax and gross weight /"rəυs wet/ noun the
other deductions weight of both the container and its
gross impressions /"rəυs m- contents
preʃ(ə)nz/ plural noun the total ground transportation /"raυnd
number of people who have seen an trnspɔ
teʃ(ə)n/ noun the means of
advertisement, multiplied by the number transport available to take passengers
of times it has been run. 쏡 guaranteed from an airport to the town, e.g. buses,
homes impressions taxis, or trains
gross margin /"rəυs mɑdn/ group /"rup/ noun 1. several things
noun the percentage difference between or people together 쑗 A group of manag-
the received price and the unit manufac- ers has sent a memo to the chairman
turing cost or purchase price of goods complaining about noise in the office. 쑗
for resale The respondents were interviewed in
gross national product /"rəυs groups of three or four, and then singly.

nʃ(ə)n(ə)l prɒd kt/ noun the annual 2. several companies linked together in
value of goods and services in a country the same organisation 쑗 the group
including income from other countries. chairman or the chairman of the group
Abbr GNP 쑗 group turnover or turnover for the
‘…news that gross national product increased group 쑗 the Granada Group 쐽 verb 왍
only 1.3% in the first quarter of the year sent the to group together to put several items
group discussion 125 guarantee

together 쑗 Sales from six different agen- ‘…population growth in the south-west is again
cies are grouped together under the reflected by the level of rental values’
[Lloyd’s List]
heading ‘European sales’.
growth area /"rəυθ
eəriə/ noun an
group discussion /"rup d- area where sales are increasing rapidly
sk ʃ(ə)n/ noun a survey method in
which a focus group is brought together growth index /"rəυθ
ndeks/ noun
to discuss informally a market-research an index showing how something has
question 쑗 The group discussion was grown
taken over by one or two strong person- growth industry /"rəυθ
ndəstri/
alities. 쑗 A sample of young people took noun an industry that is expanding or
part in a group discussion on the new has the potential to expand faster than
shampoo. other industries
group interview /"rup ntəvju/ growth market /"rəυθ
mɑkt/
noun an interview with a group of re- noun a market where sales are increas-
spondents such as a family in order to ing rapidly 쑗 We plan to build a factory
discover the views of the group as a in the Far East, which is a growth mar-
whole 쑗 There were group interviews ket for our products.
with all the classes in the school in or- growth rate /"rəυθ ret/ noun the
der to gauge reactions to the new edu- speed at which something grows
cational programme.
growth share matrix /"rəυθ ʃeə
group results /"rup rz lts/ plural
metrks/ noun a model for a market-
noun the results of a group of compa-
ing strategy with various categories of
nies taken together
product based on present performance
group system /"rup
sstəm/ noun and growth rate 쑗 The growth share ma-
a system of organising an advertising trix helped to decide what products
agency in groups, each group having needed extra marketing efforts.
specialists in creative, media, marketing
services, and other areas, and each
growth vector matrix /"rəυθ

vektə
metrks/ noun a model for a
group dealing with particular accounts
marketing strategy with various choices
groupware /"rupweə/ noun soft- and combinations of strategy based on
ware that enables a group of people who product and market development
are based in different locations to work
together and share information (NOTE: GRP abbr gross rating point
Groupware usually provides commu- guarantee /
"rənti/ noun 1. a le-
nal diaries, address books, work plan- gal document in which the producer
ners, bulletin boards and newsletters agrees to compensate the buyer if the
in electronic format on a closed net- product is faulty or becomes faulty be-
work.) fore a specific date after purchase 쑗 a
grow /"rəυ/ verb to cause something certificate of guarantee or a guarantee
such as a business to develop or expand certificate 쑗 The guarantee lasts for two
‘…the thrift had grown from $4.7 million in
years. 쑗 It is sold with a twelve-month
assets to $1.5 billion’ [Barrons] guarantee. 왍 the car is still under
guarantee the car is still covered by the
growth /"rəυθ/ noun 1. an increase in maker’s guarantee 2. a promise that
size 2. the second stage in a product life someone will pay another person’s
cycle, following the launch, when de- debts 왍 to go guarantee for someone to
mand for the product increases rapidly 왍 act as security for someone’s debts 3.
the company is aiming for growth the something given as a security 쑗 to leave
company is aiming to expand rapidly share certificates as a guarantee 쐽 verb
‘…a general price freeze succeeded in slowing
the growth in consumer prices’
1. to give a promise that something will
[Financial Times] happen 왍 to guarantee a debt to prom-
‘…growth in demand is still coming from the ise that you will pay a debt made by
private rather than the public sector’ someone else 왍 to guarantee an associ-
[Lloyd’s List] ate company to promise that an associ-
guaranteed circulation 126 gutter

ate company will pay its debts 왍 to make up for market prices that fall be-
guarantee a bill of exchange to prom- low this level 쑗 Guaranteed prices help
ise that the bill will be paid 2. 왍 the bring some security to a notoriously un-
product is guaranteed for twelve stable industry.
months the manufacturer says that the guaranteed wage /
"rəntid
product will work well for twelve wed/ noun a wage which a company
months, and will mend it free of charge promises will not fall below a specific
if it breaks down figure
guaranteed circulation guarantor /
"rəntɔ/ noun a person
/
"rəntid
s&kjυleʃ(ə)n/ noun the who promises to pay someone’s debts 쑗
audited circulation of a magazine which She stood guarantor for her brother.
is used as a basis for calculating adver-
tising rates guard book /"ɑd bυk/ noun a hard-
cover album which allows pages to be
guaranteed homes impressions inserted into it, e.g. for showing samples
/
"rəntid həυmz m
preʃ(ə)nz/, or advertising material
guaranteed homes ratings
/
"rəntid həυmz
retŋz/ plural guerrilla marketing /"ərlə
noun an advertising package offered by
mɑktŋ/ noun a form of unconven-
television companies which guarantees tional flexible marketing, adapted to the
the advertisers that their advertising will products or services sold, or to the type
reach a specified number of people, but of customer targeted
leaves it to the TV company to choose guesstimate /"estmət/ noun a
the number and timing of the spots. rough calculation (informal )
.

Abbr GHI, GHR gutter /" tə/ noun the area where
guaranteed prices /
"rəntid the two pages meet in a book or
prasz/ plural noun minimum prices magazine. It can be left blank as a
guaranteed to an industry by the govern- centre margin, or can be printed across
ment, with the payment of a subsidy to to form a double-page spread.
habit 127 hard

habit /hbt/ noun the practice of do- conference table. 왍 to shake hands on
ing something regularly 쑗 Most con- a deal to shake hands to show that a
sumers continue to buy the same brands deal has been agreed 2. 왍 in hand kept
from force of habit. in reserve 쑗 we have £10,000 in hand 왍
habit buying /hbt
baŋ/ noun balance in hand or cash in hand cash
the practice of buying a particular prod- held to pay small debts and running
uct again and again out of habit, without costs 왍 work in hand work which is in
making any conscious decision to buy progress but not finished
haggle /h"(ə)l/ verb to discuss handbill /hndbl/ noun a sheet of
prices and terms and try to reduce them printed paper handed out to members of
쑗 to haggle about or over the details of the public as an advertisement
a contract 쑗 After two days’ haggling handbook /hndbυk/ noun a book
the contract was signed. which gives instructions on how to use
half-price sale /
hɑf pras sel/ something 쑗 The handbook does not say
noun a sale of items at half the usual how you open the photocopier.
price handed-overs /hndd
əυvəz/
plural noun sales leads which have been
hallmark /hɔlmɑk/ noun a mark put
on gold or silver items to show that the passed on to the client to pursue
metal is of the correct quality 쐽 verb to handle /hnd(ə)l/ verb 1. to deal
put a hallmark on a piece of gold or sil- with something or to organise some-
ver 쑗 a hallmarked spoon thing 쑗 The accounts department han-
dles all the cash. 쑗 We can handle
hallmark of excellence /
hɔlmɑk orders for up to 15,000 units. 쑗 They
əv eksələns/ noun the reputation that a handle all our overseas orders. 2. to sell
brand name has for high quality or to trade in a type of product 쑗 We do
hall test /hɔl test/ noun a mar- not handle foreign cars. 쑗 They will not
ket-research test where respondents are handle goods produced by other firms.
asked to go into a public building or handling /hndlŋ/ noun the process
central place to answer questions or to of receiving, storing and sending off
test new products 쑗 The hall test was goods
conducted in the town’s main school. ‘…shipping companies continue to bear the
halo effect /heləυ 
fekt/ noun a se- extra financial burden of cargo handling
ries of positive impressions of a product operations at the ports’ [Business Times
(Lagos)]
which consumers retain and which can
be revealed by a respondent when ques- handling charge /hndlŋ tʃɑd/
tioned in a survey noun money to be paid for packing, in-
voicing and dealing with goods which
hand /hnd/ noun 1. the part of the are being shipped
body at the end of each arm 왍 to shake
hands to hold someone’s hand when handout /hndaυt/ noun a free gift,
meeting to show you are pleased to meet especially of money 쑗 The company ex-
them, or to show that an agreement has ists on handouts from the government.
been reached 쑗 The two negotiating hard /hɑd/ adjective 왍 to drive a
teams shook hands and sat down at the hard bargain to be a difficult negotia-
hard cash 128 heavy half

tor 왍 to strike a hard bargain to agree idea for a plastic car body round all the
a deal where the terms are favourable to major car constructors.
you hawker /hɔkə/ noun a person who
hard cash /hɑd kʃ/ noun money sells goods from door to door or in the
in notes and coins, as opposed to street
cheques or credit cards head buyer /hed baə/ noun the
‘…few of the paper millionaires sold out and most important buyer in a store 쑗 She is
transformed themselves into hard cash
millionaires’ [Investors Chronicle] the shoe buyer for a London department
store. 쑗 He is the paper buyer for a
hard currency /hɑd k rənsi/ noun large magazine chain.
the currency of a country which has a
strong economy, and which can be headhunt /hedh nt/ verb to look for
changed into other currencies easily 쑗 managers and offer them jobs in other
to pay for imports in hard currency 쑗 to companies 왍 she was headhunted she
sell raw materials to earn hard currency was approached by a headhunter and of-
fered a new job
hardening /hɑdnŋ/ noun 왍 a hard-
ening of prices prices which are becom- headhunter /hedh ntə/ noun a per-
ing settled at a higher level son or company whose job is to find
suitable top managers to fill jobs in
hardness /hɑdnəs/ noun 왍 hard- companies
ness of the market the state of the mar-
ket as being strong and not being likely headline /hedlan/ noun the heading
to fall of an article or advertisement, which is
set in much larger type than the rest
hard sell /hɑd sel/ noun 왍 to give a
product the hard sell to make great ef- head-on position /hed ɒn pə-
forts to persuade people to buy a prod-
zʃ(ə)n/ noun a poster site directly fac-
uct 왍 he tried to give me the hard sell ing traffic 쑗 Let’s try to obtain a
he put a lot of effort into trying to make head-on position in the central part of
me buy town.
hard selling /hɑd selŋ/ noun the heads of agreement /
hedz əv
act of selling by using great efforts 쑗 A ə"rimənt/ noun the most important
lot of hard selling went into that deal. parts of a commercial agreement
hardware /hɑdweə/ noun 1. ma- heat sealing /hit
silŋ/ noun a
chines used in data processing, includ- method of closing plastic food
ing the computers and printers, but not containers
the programs 2. solid goods for use in COMMENT: Air is removed from a plastic
the house, e.g. frying pans or hammers bag with the food inside. The bag is then
쑗 a hardware shop pressed by a hot plate which melts the
plastic and seals the contents in the
harvesting /hɑvstŋ/ noun the vacuum.
practice of cutting marketing investment
on a particular product prior to with- heavy /hev/ adjective large or in
drawing it from the market large quantities 쑗 a programme of
heavy investment overseas 쑗 He suf-
haulage /hɔld/ noun the cost of fered heavy losses on the Stock Ex-
transporting goods by road 쑗 Haulage is change. 쑗 The government imposed a
increasing by 5% per annum. heavy tax on luxury goods. 왍 heavy
haulage contractor /hɔld kən- costs or heavy expenditure spending

trktə/ noun a company which trans- large sums of money
ports goods by contract ‘…heavy selling sent many blue chips tumbling
in Tokyo yesterday’ [Financial Times]
hawk /hɔk/ verb to sell goods from
door to door or in the street 왍 to hawk heavy half /
hevi hɑf/ noun a situa-
something round to take a product, an tion where a small number of customers
idea or a project to various companies to make up more than half of the total de-
see if one will accept it 쑗 He hawked his mand for a product
heavy industry 129 high-involvement product

heavy industry /
hevi ndəstri/ 2. large, not low 쑗 High overhead costs
noun an industry which deals in heavy increase the unit price. 쑗 High prices
raw materials such as coal or makes put customers off. 쑗 They are budgeting
large products such as ships or engines for a high level of expenditure. 쑗 High
heavy user /
hevi juzə/ noun a interest rates are crippling small busi-
consumer who buys more of a product nesses. 왍 high sales a large amount of
than average 쑗 Heavy users will be par- revenue produced by sales 왍 high taxa-
ticularly affected by the price rise. tion taxation which imposes large taxes
on incomes or profits 왍 highest tax
heavy viewer /
hevi vjuə/ noun a
bracket the group which pays the most
person who watches a lot of television,
tax 왍 high volume (of sales) a large
and is part of the target audience for
number of items sold 3. 왍 the highest
commercials 쑗 Heavy viewers gave us
bidder the person who offers the most
the most interesting comments on our
money at an auction 쑗 The tender will
advertising.
be awarded to the highest bidder. 쑗 The
helicopter view /helkɒptə vju/ property was sold to the highest bidder.
noun a general or broad view of a prob- 쐽 adverb 왍 prices are running high
lem as a whole, which does not go into prices are above their usual level 쐽
details (slang) noun a point where prices or sales are
helpline /helplan/ noun a telephone very large 쑗 the highs and lows on the
number which links people to services Stock Exchange 쑗 Prices have dropped
that can give them specialist advice, or a by 10% since the high of January 2nd. 쑗
similar service offered by shops to their Prices have dropped by 10% since the
customers January 2nd high. 왍 sales volume has
heterogeneous /
hetərəυdiniəs/ reached an all-time high the sales vol-
adjective varied ume has reached the highest point it has
heterogeneous shopping goods ever been at
/
hetərəυdiniəs ʃɒpŋ "υdz/ plural ‘American interest rates remain exceptionally
high in relation to likely inflation rates’
noun goods which vary in quality and [Sunday Times]
style from brand to brand and which
‘…faster economic growth would tend to push
consumers spend time in choosing. US interest rates, and therefore the dollar,
Compare homogeneous shopping higher’ [Australian Financial Review]
goods ‘…in a leveraged buyout the acquirer raises
heuristics /hjυərstks/ noun simple money by selling high-yielding debentures to
decision rules used by ordinary custom- private investors’ [Fortune]
ers when choosing what to buy, e.g. high-end /ha end/ adjective more
buying whatever is cheapest expensive, more advanced or more pow-
hierarchy /haərɑki/ noun a series erful than the other items in a range of
of items ranged in order of importance 왍 things, e.g., computers
hierarchy of needs the theory that high finance /ha fanns/ noun the
needs of individuals are arranged in an lending, investing and borrowing of
order based on their importance, such as very large sums of money organised by
safety, social needs, esteem, etc. financiers
hierarchy of effects /
haərɑki əv high-grade /ha"red/ adjective of
fekts/ noun a model showing the very good quality 쑗 high-grade petrol 왍
stages in the effect of advertising on a high-grade trade delegation a delega-
consumer such as awareness, knowl- tion made up of very important people
edge, liking, preference, conviction and ‘…the accepted wisdom built upon for well over
purchase 100 years that government and high-grade
high /ha/ adjective 1. tall 쑗 The corporate bonds were almost riskless’
[Forbes Magazine]
shelves are 30 cm high. 쑗 The door is
not high enough to let us get the ma- high-involvement product /
ha
chines into the building. 쑗 They are nvɒlvmənt
prɒd kt/ noun a
planning a 30-storey-high office block. high-priced or high-tech product that is
high pressure 130 hoarding

carefully considered by a consumer be- historic /hstɒrk/, historical /h-

fore being bought stɒrk(ə)l/ adjective which goes back
high pressure /ha preʃə/ noun a over a period of time
‘…the Federal Reserve Board has eased interest
strong insistence that somebody should rates in the past year, but they are still at
do something 왍 working under high historically high levels’ [Sunday Times]
pressure working with a manager tell- ‘…the historic p/e for the FTSE all-share index
ing you what to do and to do it quickly is 28.3 and the dividend yield is barely 2 per
or with customers asking for supplies cent. Both indicators suggest that the stock
urgently markets are very highly priced’ [Times]

high-pressure salesman /
ha historical figures /h
stɒrk(ə)l

preʃə selzmən/, high-pressure f"əz/ plural noun figures which were
saleswoman noun a salesman or sales- current in the past
woman who forces a customer to buy historical trend /h
stɒrk(ə)l
something he or she does not really trend/ noun a trend detected in the past
want on the basis of historical data 쑗 Histori-
high-pressure sales technique cal trends may help us to predict how
/
ha
preʃə selz tek
nik/ noun the economy will develop in the future.
forcing a customer to buy something he 쑗 It is difficult to detect any clear his-
or she does not really want torical trends in consumer reaction to
our past product launches.
high-quality /
ha kwɒlt/ adjective
of very good quality 쑗 high-quality historic(al) cost /h
stɒrk(ə)l
goods 쑗 a high-quality product kɒst/ noun the actual cost of purchas-
ing something which was bought some
high season /ha siz(ə)n/ noun the time ago
period when there are most travellers
and tourists hit /ht/ noun 1. a response to a request
sent from an Internet browser (NOTE:
high street /ha strit/ noun 1. the When a browser conducts a search,
main shopping street in a British town 쑗 the number of hits it gets is the number
the high street shops 쑗 a high street of websites, files or images it finds that
bookshop 2. a main street considered as fit the criteria set for the search.) 2. a
an important retail area successful match or search of a database
High Street banks /
ha strit hit rate /ht ret/ noun the rate at
bŋks/ plural noun main British banks which a target is reached such as the
which accept deposits from individual number of mail shots needed before a
customers customer makes an order for a product
hire purchase /haə p&tʃs/ noun a advertised on them, or the number of
system of buying something by paying a customers who reply to a mail shot com-
sum regularly each month 쑗 to buy a re- pared to the total number of customers
frigerator on hire purchase Abbr HP mailed
(NOTE: American English is install- hive off /
hav ɒf/ verb to split off
ment plan or installment sale) 왍 to part of a large company to form a
sign a hire-purchase agreement to smaller subsidiary 쑗 The new managing
sign a contract to pay for something by director hived off the retail sections of
instalments the company.
hire-purchase company /haə hoard /hɔd/ verb 1. to buy and store
p&tʃs
k mp(ə)ni/ noun a company goods in case of need 2. to keep cash in-
which provides money for hire purchase stead of investing it
histogram /hstə"rm/ noun a chart hoarder /hɔdə/ noun a person who
or diagram with bars set on a base-line, buys and stores goods in case of need
the length of each bar expressing the hoarding /hɔdŋ/ noun 1. 왍 hoard-
quantity of an item or unit ing of supplies the buying of large
quantities of money or goods to keep in
home audit 131 horse trading

case of need 2. a large wooden board for homewards /həυmwədz/ adverb to-
posters wards the home country 쑗 cargo
‘…as a result of hoarding, rice has become homewards
scarce with prices shooting up’
[Business Times (Lagos)] homogeneous /
həυməυdiniəs/
adjective uniform or unvaried
home audit /həυm ɔdt/ noun a
survey method whereby a panel of homogeneous shopping goods
householders keeps records of purchases /
həυməυdiniəs ʃɒpŋ "υdz/ plural
so that these can be regularly checked noun goods which vary little in style
for quantity and brand 쑗 The home audit and quality from brand to brand and
showed that although wholesalers were which consumers spend little time
buying the product in large quantities, choosing. Compare heterogeneous
consumers were not. 쑗 The home audit shopping goods
suggested that there is little brand loy- horizontal /
hɒrzɒnt(ə)l/ adjective
alty for this type of product. at the same level or with the same status
home country /həυm k ntri/ noun 쑗 Her new job is a horizontal move into
a country where a company is based a different branch of the business.
homegrown /həυm"rəυn/ adjective horizontal communication
which has been developed in a local /
hɒrzɒnt(ə)l kə
mjunkeʃ(ə)n/
area or in a country where the company noun communication between employ-
is based 쑗 a homegrown computer in- ees at the same level
dustry 쑗 India’s homegrown car
industry
horizontal cooperative advertis-
ing /
hɒrzɒnt(ə)l kəυ
ɒp(ə)rətv
home industry /həυm ndəstri/ dvətazŋ/ noun cooperative adver-
noun productive work carried out by tising where the advertising is spon-
people at home 쑗 In third world coun- sored by a group of retailers
tries there are still many home indus-
tries. 쑗 Home industries are horizontal industrial market
disappearing as mass production takes /(noun),
hɒrzɒnt(ə)l n
d striəl
over. mɑkt/ noun a market in which a
product is used by many industries
home market /həυm mɑkt/ noun
the market in the country where the sell- horizontal integration /hɒr-
ing company is based 쑗 Sales in the
zɒnt(ə)l ntə"reʃ(ə)n/ noun the pro-
home market rose by 22%. cess of joining similar companies or tak-
ing over a company in the same line of
homepage /həυmped/ noun the business as yourself
first page that is displayed when you
visit a site on the Internet horizontal marketing system
home-produced product /
həυm /
hɒrzɒnt(ə)l mɑktŋ
sstəm/
prə
djust prɒd kts/ noun a product noun cooperation between or merger of
manufactured in the country where the two or more companies whose assets are
company is based complementary and who therefore all
gain from coming together
home shopping /həυm ʃɒpŋ/
noun buying items direct from the cus- horizontal publication
tomer’s house, using a computer linked /
hɒrzɒnt(ə)l
p blkeʃ(ə)n/ noun a
to the telephone which is linked to the publication which is aimed at people in
store’s ordering department similar levels of occupation in different
industries
home trade /həυm tred/ noun trade
in the country where a company is based horizontal rotation /
hɒrzɒnt(ə)l
homeward /həυmwəd/ adjective go- rəυteʃ(ə)n/ noun distributing broad-
ing towards the home country 쑗 The cast spots on different days of the week
ship is carrying homeward freight. 쑗 at the same time of day
The liner left Buenos Aires on her home- horse trading /hɔs
tredŋ/ noun
ward journey. hard bargaining which ends with some-
hostess party selling 132 human resources

one giving something in return for a household appliances

concession from the other side /
haυshəυld əplaənsz/ plural noun
hostess party selling /
həυstes appliances which are used in carrying
pɑti
selŋ/ noun a method of selling out day-to-day work in the house, e.g.
certain items such as household goods dishwashers and refrigerators
directly by the manufacturer’s agent at a household goods /
haυshəυld
party to which potential customers are "υdz/ plural noun items which are used
invited in the home
host service /həυst
s&vs/, host- household name /
haυshəυld
ing service provider /
həυstŋ nem/ noun a brand name which is re-
s&vs/ noun a company that provides cognised by a large number of
connections to the Internet and storage consumers
space on its computers, which can store households using television
the files for a user’s website /
haυshəυldz
juzŋ telv(ə)n)/
hot button /hɒt
b t(ə)n/ noun the noun the percentage of homes watching
immediate interest a customer has in a television during a specific time period
product or service offered for sale and within a specific area. Abbr HUT
hotline /hɒtlan/ noun a special tele- house journal /(noun), haυs
phone ordering service set up for a spe-
d&n(ə)l/, house magazine /haυs
cial period 쑗 a Christmas hotline m"ə
zin/ noun a magazine produced
hot money /hɒt m ni/ noun money for the employees or shareholders in a
which is moved from country to country company to give them news about the
to get the best returns company
house /haυs/ noun 1. the building in house property /haυs
prɒpəti/
which someone lives 2. a company 쑗 noun private houses or flats, not shops,
the largest London finance house 쑗 He offices or factories
works for a broking house or a publish- house style /haυs stal/ noun a
ing house. company’s own design which is used in
house advertisment / haυs all its products, including packaging and
ədv&tsmənt/, house ad /haυs d/ stationery
noun an advertisement in a publication house-to-house /
haυs tə haυs/
which is placed by the publication itself, adjective going from one house to
e.g. one offering a readers’ advice ser- the next, asking people to buy
vice or selling back numbers of the something or to vote for someone 쑗
publication house-to-house canvassing 쑗 He
house agency /haυz
edənsi/ trained as a house-to-house salesman. 쑗
noun an advertising agency owned and House-to-house selling is banned in this
used by a large company, and which area.
other companies may also use housing market /haυzŋ
mɑkt/,
house agent /haυz
edənt/ noun property market /prɒpəti
mɑkt/
an estate agent who deals in buying or noun the sale of houses
selling houses or flats HTML noun the standard computer
house brand /haυs brnd/ noun a code used to build and develop
brand owned by a retailer rather than by webpages
the producer human resources /
hjumən r-
household /haυshəυld/ noun a unit sɔsz/ plural noun the employees
formed of all the people living together which an organisation has available 쑗
in a single house or flat, whether it is a Our human resources must be looked
single person living alone, a married after and developed if we are to raise
couple or a large family productivity successfully.
‘…the extent of single women households has ‘…effective use and management of human
implications for marketing’ resources hold the key to future business
[Precision Marketing] development and success’ [Management Today]
hunch marketing 133 hypothesis

hunch marketing /h ntʃ hypermarket /hapəmɑkt/ noun a

mɑktŋ/ noun the process of making very large supermarket, usually outside
marketing decisions following a hunch, a large town, with car-parking facilities
rather than relying on market research hypertext /hapətekst/ noun a sys-
HUT abbr households using television tem of organising information in which
certain words in a document link to
hype /hap/ noun excessive claims other documents and display the text
made in advertising 쑗 all the hype sur- when the word is selected
rounding the launch of the new soap 쑗
Many consumers were actually put off hypertext link /hapətekst lŋk/
by all the media hype surrounding the noun same as hyperlink
launch of the new magazine. 쐽 verb to hypertext markup language
make excessive claims in advertising /
hapətekst mɑk p
lŋ"wd/
noun full form of HTML
hyperlink /hapəlŋk/ noun 1. an im-
age or a piece of text that a user clicks hypoing /hapəυŋ/ noun using spe-
on in order to move directly from one cial promotions to increase the audience
webpage to another (NOTE: Hyperlinks of a TV station during the sweep periods
can be added to webpages by using and so affect the ratings
simple HTML commands; they can hypothesis /hapɒθəss/ noun an
also be used in email messages, for assumption or theory which must be
example, to include the address of a tested to be confirmed or proved correct
company’s website.) 2. a series of com- 쑗 Let us assume, as a working hypothe-
mands attached to a button or word on sis, that we can win a 5% market share
one webpage that link it to another page, within two years of the launch. 쑗 Sur-
so that if a user clicks on the button or veys proved that our original hypothesis
word, the hyperlink will move the user about likely consumer behaviour was by
to another position or display another and large correct. (NOTE: plural is
page hypotheses)
I-am-me 134 imperfect competition

iceberg principle /asb&" imitation /
mteʃ(ə)n/ noun some-

prnsp(ə)l/ noun the principle that thing which is a copy of an original 왍
strong needs and desires lie deep in the beware of imitations be careful not to
human personality and that advertising buy low-quality goods which are made
must work at this level if it is to be to look like other more expensive items
effective immediate /midiət/ adjective hap-
ident /adent/ noun a short TV image pening at once 쑗 We wrote an immedi-
which identifies a channel ate letter of complaint. 쑗 Your order
image /md/ noun the general idea will receive immediate attention.
that the public has of a product, brand or immediate environment /
midiət
company 쑗 They are spending a lot of nvarənmənt/ noun elements or fac-
advertising money to improve the com- tors outside a business organisation
pany’s image. 쑗 The company has which directly affect its work, such as
adopted a down-market image. 왍 to the supply of raw materials and demand
promote the corporate image to publi- for its products 쑗 The unreliability of
cise a company so that its reputation is our suppliers is one of the worst fea-
improved tures of our immediate environment.
‘…charities are also ready to buy air time to
promote their corporate image’ impact /mpkt/ noun a shock or
[Marketing Week] strong effect 쑗 the impact of new tech-
image advertising /md nology on the cotton trade 쑗 The new

dvətazŋ/ noun advertising with the design has made little impact on the
aim of making a brand or company buying public.
‘…the strong dollar’s deflationary impact on
name easily remembered European economies as governments push up
image-maker /md
mekə/ noun interest rates to support their sinking currencies’
someone who is employed to create a [Duns Business Month]
favourable public image for an organi- impactaplan /mpktəpln/ noun
sation, product or public figure an extensive poster advertising
image manipulation /md campaign
mənpjυ
leʃ(ə)n/ noun alteration of impact scheduling /mpkt
digital images using special computer
ʃedjulŋ/ noun the practice of running
software advertisements for the same product
image setter /md
setə/ noun a close together so as to make a strong im-
typesetting device that can process a pression on the target audience 쑗 Im-
PostScript page and produce a pact scheduling can achieve rapid
high-resolution output brand awareness.
image transfer /md
trnsf&/ imperfect /mp&fkt/ adjective hav-
noun the technique of transferring im- ing defects 쑗 They are holding a sale of
ages from one medium to another, e.g. imperfect items. 쑗 Check the batch for
from a photograph to a computer disk imperfect products.
imitate /mtet/ verb to do what imperfect competition /m
p&fkt
someone else does 쑗 They imitate all
kɒmpətʃ(ə)n/ noun the degree of
our sales gimmicks. competition in a market which is some-
imperfection 135 incentive

where between a monopoly at one ex- import licence /mpɔt
las(ə)ns/,

treme and perfect competition at the import permit /mpɔt
p&mt/ noun
other official documents which allow goods
imperfection /
mpəfekʃən/ noun a to be exported or imported
defect in something 쑗 to check a batch import quota /mpɔt
kwəυtə/
for imperfections noun a fixed quantity of a particular
type of goods which the government al-
implied close /m
plad kləυz/ lows to be imported 쑗 The government
noun an act of ending a sale by assum-
has imposed a quota on the importation
ing that the customer will make the
of cars. 쑗 The quota on imported cars
purchase
has been lifted.
import /mpɔt/ verb to bring goods imports /mpɔts/ plural noun goods
from abroad into a country for sale 쑗 brought into a country from abroad for
The company imports television sets sale 쑗 Imports from Poland have risen
from Japan. 쑗 This car was imported to $1m a year.
from France.
‘European manufacturers rely heavily on import surcharge /
mpɔt
imported raw materials which are mostly priced s&tʃɑd/ noun the extra duty charged
in dollars’ [Duns Business Month] on imported goods, to try to stop them
importation /
mpɔteʃ(ə)n/ noun from being imported and to encourage
the act of importing 쑗 The importation local manufacture
of arms is forbidden. 쑗 The importation impression /mpreʃ(ə)n/ noun 1.
of livestock is subject to very strict one person’s single exposure to an ad-
controls. vertisement 쑗 One impression can be
import ban /mpɔt bn/ noun an enough to induce a consumer to buy. 쑗
order forbidding imports 쑗 The govern- Too many impressions can put consum-
ment has imposed an import ban on ers off. 2. the number of times an ad
arms. banner is displayed
impression cover /mpreʃ(ə)n
import duty /mpɔt
djuti/ noun a
k və/ noun the amount of advertising
tax on goods imported into a country
necessary to ensure the required number
importer /mpɔtə/ noun a person or of impressions
company that imports goods 쑗 a cigar impulse /mp ls/ noun a sudden de-
importer 쑗 The company is a big im- cision 왍 to do something on impulse to
porter of foreign cars. do something because you have just
import-export /
mpɔt ekspɔt/ thought of it, not because it was planned
noun, adjective referring to a business impulse buyer /mp ls
baə/ noun
which deals with both bringing foreign a person who buys something on im-
goods into a country and sending locally pulse, not because he or she intended to
made goods abroad 쑗 Rotterdam is an buy it
important centre for the import-export
trade. 쑗 He works in import-export. impulse buying /mp ls
baŋ/
noun the practice of buying items which
importing /mpɔtŋ/ adjective you have just seen, not because you had
which imports 쑗 oil-importing countries planned to buy them
쑗 an importing company 쐽 noun the act
of bringing foreign goods into a country impulse purchase /mp ls
for sale 쑗 The importing of arms into
p&tʃs/ noun something bought as
the country is illegal. 쑗 The level of im- soon as it is seen
porting is bound to affect domestic incentive /nsentv/ noun something
industries. which encourages a customer to buy or
import levy /mpɔt
levi/ noun a tax staff to work better
‘…some further profit-taking was seen
on imports, especially in the EU a tax on yesterday as investors continued to lack fresh
imports of farm produce from outside incentives to renew buying activity’
the EU [Financial Times]
incentive-based system 136 independent trader

‘…a well-designed plan can help companies income statement /nk m

retain talented employees and offer enticing
performance incentives – all at an affordable

stetmənt/ noun US a statement of
cost’ [Fortune] company expenditure and sales which
shows whether the company has made a
incentive-based system /n- profit or loss (NOTE: the British equiva-
sentv best
sstəm/ noun a payment lent is profit and loss account)
system by which an advertising
agency’s commission depends on how incorrectly labelled parcel
well it performs /
nkərektli
leb(ə)ld pɑs(ə)l/ noun a
parcel with the wrong information on
incentive marketing /nsentv the label

mɑktŋ/ noun any additional incen-
tives to buy apart from advertising, e.g. indemnity /ndemnti/ noun a guar-
free gifts 쑗 We will have to use incen- antee of payment after a loss 쑗 She had
tive marketing to break down sales to pay an indemnity of £100.
resistance. indent noun /ndent/ 1. an order
incentive programme /nsentv placed by an importer for goods from

prəυ"rm/ noun a programme to en- overseas 쑗 They put in an indent for a
courage something by offering new stock of soap. 2. a line of typing
incentives which starts several spaces from the
left-hand margin 쐽 verb /ndent/ 1. 왍
incentive scheme /nsentv skim/
to indent for something to put in an or-
noun a plan to encourage better work by
der for something 쑗 The department has
paying higher commission or bonuses 쑗
indented for a new computer. 2. to start
Incentive schemes are boosting
a line of typing several spaces from the
production.
left-hand margin 쑗 Indent the first line
inch rate /nʃ ret/ noun an advertis- three spaces.
ing rate for periodicals, calculated on a
normal column width, one inch in depth independent /
ndpendənt/ adjec-
tive not under the control or authority of
inclusive charge /n
klusv anyone else
tʃɑd/ noun a charge which includes
all items independent company
/
ndpendənt k mp(ə)ni/ noun a
income /nk m/ noun money which company which is not controlled by an-
a person receives as salary or dividends other company
왍 lower income bracket or upper in-
come bracket groups of people who independents /
ndpendənts/ plu-
earn low or high salaries considered for ral noun shops or companies which are
tax purposes 왍 he comes into the owned by private individuals or families
higher income bracket he is in a group ‘…many independents took advantage of the
bank holiday period when the big multiples
of people earning high incomes and were closed’ [The Grocer]
therefore paying more tax
‘…there is no risk-free way of taking regular independent television
income from your money much higher than the /
ndpendənt telv(ə)n/ noun Brit-
rate of inflation’ [Guardian] ish commercial television
income distribution /nk m Independent Television Com-
dstr
bjuʃ(ə)n/ noun the way in mission /
ndpendənt telv(ə)n
which the national income is distributed kə
mʃ(ə)n/ the British statutory body
among the various classes and occupa- which operates transmitting stations and
tions in a country oversees commercial television and ra-
income effect /nk m 
fekt/ noun dio. Abbr ITC
the effect that a change in a person’s in- independent trader /
ndpendənt
come has on his or her spending tredə/, independent shop
incomes policy /nk mz
pɒlsi/ /
ndpendənt ʃɒp/ noun a shop which
noun the government’s ideas on how in- is owned by an individual proprietor,
comes should be controlled not by a chain
independent variable 137 individual

independent variable indicia /ndsiə/ noun US a stamp

/
ndpendənt veəriəb(ə)l/ noun a printed on an envelope to show that
factor whose value, when it changes, in- postage has been paid by the sender
fluences one or more other variables indifference curve /ndf(ə)rəns
called ‘dependent variables’ 쑗 In this k&v/ noun a line on a graph that joins
model personal income is the independ- various points, each point representing a
ent variable and expenditure the de- combination of two commodities, each
pendent variable. combination giving the customer equal
index /ndeks/ noun a regular statisti- satisfaction
cal report which shows rises and falls in
prices, values or levels indigenous /nddnəs/ adjective
‘…the index of industrial production sank 0.2 belonging to a particular country or area
per cent for the latest month after rising 0.3 per 쑗 Cocoa is not indigenous to the area,
cent in March’ [Financial Times] but has been grown there for some
‘…an analysis of the consumer price index for years.
the first half of the year shows that the rate of
inflation went down by 12.9 per cent’ indirect /
ndarekt/ adjective not
[Business Times (Lagos)] direct
indexation /
ndekseʃ(ə)n/ noun indirect channel /
ndarekt
the linking of something to an index tn(ə)l/ noun a marketing channel
indexation of wage increases where intermediaries such as wholesal-
/
ndekseʃ(ə)n əv wed
nkrisz/ ers and retailers are used to sell a prod-
noun the linking of wage increases to uct, as opposed to using a direct sales
the percentage rise in the cost of living force
indexing /ndeksŋ/ noun a method indirect exporting /
ndarekt
of showing changes in a value over time ekspɔtŋ/ noun selling products to a
by starting with a simple base point such customer overseas through a middle-
as 100, which then serves as a reference man in your own country 쑗 There is
point for future years 쑗 Indexing is used no need for indirect exporting as we can
to show the rise in the cost of living over sell directly to the major department
a ten-year period. stores in Spain. 쑗 Indirect exporting
index-linked /
ndeks lŋkt/ adjec- saved the company from having to
tive which rises automatically by the worry about export documentation and
percentage increase in the cost of living transportation.
쑗 index-linked government bonds 쑗 In- indirect headline /
ndarekt
flation did not affect her as she has an hedlan/ noun a headline which does
index-linked pension. not directly try to sell a product or ser-
‘…two-year index-linked savings certificates vice but rather tries to attract the cus-
now pay 3 per cent a year tax free, in addition to
index-linking’ [Financial Times] tomer’s attention or plays on his or her
emotions
indicate /ndket/ verb to show 쑗
The latest figures indicate a fall in the indirect labour costs /
ndarekt
inflation rate. 쑗 Our sales for last year lebə kɒsts/ plural noun the cost of
indicate a move from the home market paying employees not directly involved
to exports. in making a product such as cleaners or
indicator /ndketə/ noun some- canteen staff. Such costs cannot be allo-
thing which indicates cated to a cost centre.
‘…it reduces this month’s growth in the key M3 individual /
ndvduəl/ noun one
indicator from about 19% to 12%’ single person 쑗 a savings plan tailored
[Sunday Times]
to the requirements of the private indi-
‘…we may expect the US leading economic vidual 쐽 adjective single or belonging
indicators for April to show faster economic
growth’ [Australian Financial Review] to one person 쑗 a pension plan designed
‘…other indicators, such as high real interest to meet each person’s individual re-
rates, suggest that monetary conditions are quirements 쑗 We sell individual por-
extremely tight’ [Economist] tions of ice cream.
individual demand 138 industry

individual demand /
ndvduəl cessed or raw materials and goods such

dmɑnd/ noun demand from one sin- as machinery and equipment that are
gle consumer used to produce other goods
industrial /nd striəl/ adjective re- industrial injury /n
d striəl
ferring to manufacturing work 왍 to take ndəri/ noun an injury to an employee
industrial action to go on strike or that occurs in the workplace
go-slow industrialisation /n
d strəla-
‘ACAS has a legal obligation to try and solve zeʃ(ə)n/, industrialization noun the
industrial grievances before they reach
industrial tribunals’ [Personnel Today]
process of change by which an economy
becomes based on industrial production
‘Britain’s industrial relations climate is
changing’ [Personnel Today] rather than on agriculture
‘…indications of renewed weakness in the US industrialise /nd striəlaz/, in-
economy were contained in figures on industrial dustrialize verb to set up industries in a
production for April’ [Financial Times] country which had none before
industrial advertising /n
d striəl ‘…central bank and finance ministry officials of
the industrialized countries will continue work
dvətazŋ/ noun advertising to busi- on the report’ [Wall Street Journal]
nesses, not to private individuals
industrialised society /n
d striə-
industrial capacity /n
d striəl kə-
lazd səsaəti/ noun a country which
psti/ noun the amount of work has many industries
which can be done in a factory or sev-
eral factories industrialist /nd striəlst/ noun an
owner or director of a factory
industrial centre /nd striəl

sentə/ noun a large town with many
industrial market /nd striəl

mɑkt/ noun customers who buy
industries
goods to be used in production
industrial consumer /n
d striəl industrial marketing /n
d striəl
kənsjumə/ noun a business which mɑktŋ/ noun the marketing of
buys industrial goods industrial products 쑗 After doing a
industrial design /n
d striəl d- course in industrial marketing, I got a
zan/ noun the design of products made job selling machinery to aircraft
by machines such as cars and manufacturers.
refrigerators industrial market research /n-
industrial development /n-
d striəl mɑkt rs&tʃ/ noun market

d striəl dveləpmənt/ noun the plan- research into selling to businesses as op-
ning and building of new industries in posed to private individuals
special areas industrial services marketing
industrial espionage /n
d striəl /n
d striəl s&vsz
mɑktŋ/ noun
espiənɑ/ noun trying to find out the the marketing to business customers of
secrets of a competitor’s work or prod- such services as debt collection, office
ucts, usually by illegal means cleaning, etc.
industrial expansion /n
d striəl industrial user /n
d striəl juzə/
kspnʃən/ noun the growth of indus- noun a customer who buys industrial
tries in a country or a region products to use in production
industrial goods /nd striəl industry /ndəstri/ noun 1. all facto-
"υdz/, industrial products /n- ries, companies or processes involved in

d striəl prɒd kts/ plural noun 1. the manufacturing of products 쑗 All sec-
goods or products bought by producers tors of industry have shown rises in out-
to be used in production processes 쑗 put. 2. a group of companies making the
Our industrial products are advertised same type of product or offering the
in the specialised press. 쑗 He is an engi- same type of service 쑗 the aircraft in-
neer by profession and sells industrial dustry 쑗 the food-processing industry 쑗
goods to factories. 2. goods produced the petroleum industry 쑗 the advertising
for use by industry, which include pro- industry
inelastic demand 139 information

‘…with the present overcapacity in the airline inflationary trends in the economy 왍 the
industry, discounting of tickets is widespread’
[Business Traveller]
economy is in an inflationary spiral
the economy is in a situation where
inelastic demand /n
lstk d- price rises encourage higher wage de-
mɑnd/ noun demand which experi- mands which in turn make prices rise
ences a comparatively small percentage
‘…inflationary expectations fell somewhat this
change in response to a percentage month, but remained a long way above the
change in price 쑗 Where a product is a actual inflation rate, according to figures
household necessity, you almost always released yesterday. The annual rate of inflation
find an inelastic demand. measured by the consumer price index has been
below 2 per cent for over 18 months’
inelastic supply /n
lstk səpla/ [Australian Financial Review]
noun supply which experiences a com-
paratively small percentage change in inflight advertising /
nflat
response to a percentage change in price dvətazŋ/ noun advertising on TV
screens inside a plane
inertia selling /n&ʃə
selŋ/ noun a
method of selling items by sending them inflight audience /
nflat ɔdiəns/
when they have not been ordered and noun travellers, especially business ex-
assuming that if the items are not re- ecutives, seen as a market for
turned, the person who has received advertisers
them is willing to buy them influencer /nfluənsə/ noun an ex-
inferior /nfəriə/ adjective not as pert in the decision-making unit who ad-
good as others 쑗 products of inferior vises on technical aspects of the product
quality or service under consideration
inferior product /n
fəriə infomercial /
nfəυm&ʃ(ə)l/ noun a
prɒd kt/ noun a product which con- TV commercial that is longer than the
sumers buy less of as their incomes rise normal 30 seconds, and contains infor-
쑗 Margarine was clearly an inferior mation about the product or service be-
product before it came to be considered ing sold
healthier than butter. 쑗 As the recession
hit, sales of inferior products soared. inform /nfɔm/ verb to tell someone
officially 쑗 I regret to inform you that
inflation /nfleʃ(ə)n/ noun a greater your tender was not acceptable. 쑗 We
increase in the supply of money or
are pleased to inform you that you have
credit than in the production of goods
been selected for interview. 쑗 We have
and services, resulting in higher prices
and a fall in the purchasing power of been informed by the Department that
money 왍 we have 3% inflation or in- new regulations are coming into force.
flation is running at 3% prices are 3% informant /nfɔmənt/ noun a per-
higher than at the same time last year 쑗 son who answers questions in a survey
to take measures to reduce inflation 쑗 쑗 So far only two informants have said
High interest rates tend to increase that they never buy the product.
inflation. information /
nfəmeʃ(ə)n/ noun
‘…the decision by the government to tighten
monetary policy will push the annual inflation
details which explain something 쑗 to
rate above the year’s previous high’ disclose a piece of information 쑗 to an-
[Financial Times] swer a request for information 쑗 Please
‘…when you invest to get a return, you want a send me information on or about holi-
‘real’ return – above the inflation rate’ days in the USA. 쑗 Have you any infor-
[Investors Chronicle]
mation on or about deposit accounts? 쑗
‘…the retail prices index rose 0.4 per cent in the
month, taking the annual headline inflation rate
I enclose this leaflet for your informa-
to 1.7 per cent. The underlying inflation rate, tion. 쑗 For further information, please
which excludes mortgage interest payments, write to Department 27. 왍 disclosure of
increased to an annual rate of 3.1 per cent’ confidential information the act of tell-
[Times]
ing someone information which should
inflationary /nfleʃ(ə)n(ə)ri/ adjec- be secret
tive which tends to increase inflation 쑗
informational appeal 140 ink-jet printing

informational appeal /nfə- spɒnsəd kəυ
ɒp(ə)rətv dvətazŋ/

meʃ(ə)n(ə)l əpil/ noun same as ra- noun advertising sponsored by the pro-
tional appeal ducers of raw materials which aims to
information and communica- encourage the production of products
tions technologies /nfə
meʃ(ə)n that use these raw materials
ən kə
mjunkeʃ(ə)nz tek
nɒlədiz/ inherent drama /n
hərənt
plural noun computer and telecommuni- drɑmə/ noun advertising that empha-
cations technologies considered together sizes the benefits of purchasing a prod-
and as a whole (NOTE: It is the coming uct or service and the vital interest
together of information and communi- which the user has in the product such
cations technology that has possible as the speed of a car, the nutrition value
made such things as the Internet, of cereals, etc.
videoconferencing, groupware, inherent vice /n
hərənt vas/
intranets, and third-generation mobile noun the tendency of some goods to
phones.) spoil during transportation 쑗 Inherent
information management /nfə- vice discouraged us from importing
meʃ(ə)n
mndmənt/ noun the tropical fruit.
task of controlling information and the in-home selling /
n həυm selŋ/,
flow of information within an organisa- in-home retailing /
n həυm ritelŋ/
tion, that involves acquiring, recording, noun selling to a customer in his or her
organising, storing, distributing, and re- home, either by direct contact or by tele-
trieving it (NOTE: Good information phone 쑗 In-home selling is the national
management has been described as strategy for our products. 쑗 In-home
getting the right information to the right selling is useful when housewives are
person in the right format at the right the target market.
time.) in-house /n haυs/ adverb, adjective
information officer /nfəmeʃ(ə)n done by somebody employed by a com-

ɒfsə/ noun 1. a person whose job pany on their premises, not by an out-
is to give information about a com- side contractor 쑗 the in-house staff 쑗
pany, an organisation or a government We do all our data processing in-house.
department to the public 2. a person in-house agency /
n haυs
whose job is to give information to other edənsi/ noun an advertising agency
departments in the same organisation which is owned and operated by an
information processing model company and is responsible for the com-
/nfə
meʃ(ə)n prəυsesŋ
mɒd(ə)l/ pany’s advertising programme
noun a way of evaluating the effect of in-house newsletter /
n haυs
advertising by seeing the receiver of the njuzletə/ noun same as newsletter
message as someone who processes in- initial /nʃ(ə)l/ adjective first or start-
formation and deals with problems ing 쑗 The initial response to the TV ad-
information retrieval /nfə- vertising has been very good.

meʃ(ə)n rtriv(ə)l/ noun the finding ‘…the founding group has subscribed NKr
of stored data in a computer 14.5m of the initial NKr 30m share capital’
[Financial Times]
infotainment /(noun),
nfəυ- ‘…career prospects are excellent for someone
tenmənt/ noun entertainment that is with potential, and initial salary is negotiable
informative, especially television around $45,000 per annum’
programmes that deal with serious is- [Australian Financial Review]
sues or current affairs in an entertaining initial capital /
nʃ(ə)l kpt(ə)l/
way noun capital which is used to start a
ingredient /n"ridiənt/ noun mate- business
rial or a substance which goes to make initial sales /
nʃ(ə)l selz/ plural
something noun the first sales of a new product
ingredient sponsored coopera- ink-jet printing /ŋk det
prntŋ/,
tive advertising /n
"ridiənt ink-jet imaging /ŋk det
mdŋ/
inland port 141 installment plan

noun a printing process where text is re- azine when it is mailed 쐽 verb /ns&t/
produced by projecting dots of electron- to put something in 쑗 to insert a clause
ically charged ink onto the paper into a contract 쑗 to insert a publicity
inland port /
nlənd pɔt/ noun a piece into a magazine mailing
port on a river or canal insertion /ns&ʃ(ə)n/ noun the act of
innovate /nəυvet/ verb to bring in putting an advertisement into a maga-
new ideas or new methods zine or newspaper
innovation /
nəveʃ(ə)n/ noun the insertion rate /ns&ʃ(ə)n ret/
development of new products or new noun the rate charged for a single inser-
ways of selling tion of an advertisement
‘…if innovation equates with daring, then ‘who inset /nset/ noun same as insert
dares wins’ will be a marketing commandment’ inside back cover /
nsad bk
[Marketing Workshop]
k və/ the page on the inside of the back
innovation-adoption model /nə- cover used for advertising 쑗 We have

veʃ(ə)n ədɒpʃ(ə)n
mɒd(ə)l/ noun a advertised on the inside back cover of
model that shows the stages in the adop- every issue this year. 쑗 The survey is
tion process for a new product by a con- trying to establish how much notice
sumer, which are: awareness, interest, readers take of the inside back cover.
evaluation, trial, and adoption
inside front cover /
nsad
fr nt
innovative /nəvetv/ adjective re- k və/ noun the page on the inside of
ferring to a person or thing which is new the front cover of a magazine, used for
and makes changes advertisements
‘…small innovative companies in IT have been
hampered for lack of funds’ [Sunday Times] instability /
nstəblt/ noun the
state of being unstable or moving up and
innovator /nəvetə/ noun 1. a down 왍 a period of instability in the
person or company that brings in new money markets a period when curren-
ideas and methods 2. a person who buys cies fluctuate rapidly
a new product first 3. in the VALS life-
style classification, a successful person, install /nstɔl/ verb 1. to put a ma-
often a leader in their profession, who chine into an office or into a factory 쑗
buys a lot of new and expensive We are planning to install the new ma-
products chinery over the weekend. 쑗 They must
install a new data processing system be-
in-pack /n pk/ noun something cause the old one cannot cope with the
placed inside the packaging with the mass of work involved. 2. to set up a
product 쑗 In-pack promotion may in- new computer system so that it fits the
clude information on other products in user’s requirements 3. to configure a
the same line. new computer program to the existing
input tax /npυt tks/ noun VAT system requirements
which is paid by a company on goods or installation /
nstəleʃ(ə)n/ noun 1.
services bought machines, equipment and buildings 쑗
inquiry /ŋkwaər/ noun a request Harbour installations were picketed by
for information about a product striking dockers. 쑗 The fire seriously
inquiry test /ŋkwaər test/ noun a damaged the oil installations. 2. putting
measuring of the effectiveness of adver- new machines into an office or a factory
tising based on responses following the 쑗 to supervise the installation of new
advertisement such as requests for infor- equipment 3. setting up a new computer
mation, phone calls, or the number of system
coupons redeemed installment /nstɔlmənt/ noun US
insert noun /ns&t/ a form or leaflet spelling of instalment
which is put inside something, usually a installment plan /nstɔlmənt
magazine or newspaper 왍 an insert in a pln/, installment sales /n-
magazine mailing or a magazine in- stɔlmənt selz/, installment buying
sert an advertising sheet put into a mag- /nstɔlmənt
baŋ/ noun US a sys-
instalment 142 integrated marketing

tem of buying something by paying a in-store media /
n stɔ midiə/

sum regularly each month 쑗 to buy a noun promotional material used inside a
car on the installment plan (NOTE: the store, e.g. POS material, display ban-
British equivalent is hire purchase) ners, and advertisements on trolleys
instalment /nstɔlmənt/ noun a in-store promotion /
n stɔ prə-
part of a payment which is paid regu- məυʃ(ə)n/ noun a promotion of a prod-
larly until the total amount is paid 쑗 The uct inside a shop, e.g. by demonstrations
first instalment is payable on signature or special gift counters
of the agreement. (NOTE: the American instrument /nstrυmənt/ noun a
spelling is installment) 왍 the final in- legal document
stalment is now due the last of a series instrumental conditioning
of payments should be paid now 왍 to /
nstrυment(ə)l kəndʃ(ə)nŋ/ noun
pay £25 down and monthly instal- same as operant conditioning
ments of £20 to pay a first payment of
£25 and the rest in payments of £20 insurance rates /nʃυərəns rets/
each month 왍 to miss an instalment not plural noun the amount of premium
to pay an instalment at the right time which has to be paid per £1000 of
insurance
instalment credit /nstɔlmənt

kredt/ noun an arrangement by which intangible assets /n
tndb(ə)l
a purchaser pays for goods bought in in- sets/ plural noun assets which have a
stalments over a period of time value, but which cannot be seen, e.g.
goodwill, or a patent or a trademark
institution /
nsttjuʃ(ə)n/ noun an
organisation or society set up for a par- integrate /nt"ret/ verb to link
ticular purpose things together to form one whole group
integrated information re-
institutional /
nsttjuʃ(ə)n(ə)l/
sponse model /
nt"retd nfə-
adjective referring to a financial
meʃ(ə)n r
spɒns
mɒd(ə)l/ noun a
institution model showing the response process to
‘…during the 1970s commercial property was
regarded by big institutional investors as an an advertising message which suggests
alternative to equities’ [Investors Chronicle] that advertising leads to a low accep-
institutional advertising tance rate of information, but that after
/
nsttjuʃ(ə)n(ə)l dvətazŋ/ noun
trials of the product the acceptance rate
advertising an organisation rather than a increases and this in turn leads to brand
product loyalty
integrated marketing /
nt"retd
institutional investor mɑktŋ/ noun co-ordination of all of
/
nsttjuʃ(ə)n(ə)l nvestə/ noun a
a company’s marketing activities in es-
financial institution which invests
tablishing marketing strategies such as
money in securities
packaging, media promotion, POS ma-
in-store /n stɔ/ adjective inside a terial or after-sales service 쑗 The sepa-
store ration of departments makes integrated
‘…dissatisfied with traditional media marketing difficult to achieve.
advertising, manufacturers in the USA are
shifting their money into in-store promotion. integrated marketing communi-
The reason why marketers in the US put more cations concept /
nt"retd
effort into in-store marketing is the greater kəmjunkeʃ(ə)nz
kɒnsept/ noun
penetration of EPOS’ [Marketing Week]
US the concept or principle that a com-
in-store bakery /
n stɔ bekəri/ pany should link all its promotions, ei-
noun a bakery in a large supermarket, ther of its own image or of the products
where bread is baked fresh for the and services it sells, in a consistent way
customers on several different levels
in-store demonstration /
n stɔ integrated marketing communi-

demənstreʃ(ə)n/ noun a demonstra- cations objectives /
nt"retd
tion of a product such as a piece of
mɑktŋ kəmjunkeʃ(ə)nz əb-
kitchen equipment inside a store
dektvz/ plural noun listing the ob-
integrated processes 143 internal

jectives of an integrated marketing interactive voice response

communications programme such as /
ntərktv vɔs r
spɒns/ noun a
communication tasks, anticipated sales, telephone or Internet system which is
and increased market share activated by the voice of the caller and
responds to the caller’s queries. Abbr
integrated processes /
nt"retd IVR
prəυsesz/ plural noun the processes
by which knowledge of products, and intercompany comparison
beliefs about their excellence combine /
ntək mpəni kəmprs(ə)n/,
to help the purchaser evaluate alterna- interfirm comparison /
ntəf&m
tive products kəmprs(ə)n/ noun a comparison of
different companies to see how much
integration /
nt"reʃ(ə)n/ noun they spend on promotion, what their re-
bringing several businesses together un- turn on investment is, etc.
der a central control
interconnect /
ntəkənekt/ noun
intellectual property /ntlektjυəl two or more cable systems joined to-
prɒpəti/ noun ideas, designs and in- gether for advertising purposes so as to
ventions, including copyrights, patents give a wider geographical spread
and trademarks, that were created by
and legally belong to an individual or an interest /ntrəst/ noun 1. special at-
organisation (NOTE: Intellectual prop- tention 쑗 The buyers showed a lot of in-
erty is protected by law in most coun- terest in our new product range. 2.
tries, and the World Intellectual payment made by a borrower for the use
Property Organisation is responsible of money, calculated as a percentage of
for harmonising the law in different the capital borrowed 쐽 verb to attract
countries and promoting the protection someone’s attention 쑗 She tried to inter-
of intellectual property rights.) est several companies in her new inven-
tion. 쑗 The company is trying to interest
intensive distribution /n
tensv a wide range of customers in its

dstrbjuʃ(ə)n/ noun the use by a products.
producer of as wide a network of dis-
‘…since last summer American interest rates
tributors as possible to sell products 쑗 have dropped by between three and four
Without intensive distribution we cannot percentage points’ [Sunday Times]
hope to achieve these ambitious sales ‘…a lot of money is said to be tied up in sterling
targets. 쑗 Intensive distribution makes because of the interest-rate differential between
us rely on too many retailers and US and British rates’ [Australian Financial
wholesalers. Review]
intention to buy /n
tenʃ(ə)n tə interest charges /ntrəst
ba/ noun a statement by a respondent
tʃɑdz/ plural noun money paid as
that he or she intends to buy a product or interest on a loan
service, which may or may not be true intermedia comparison
interactive /
ntərktv/ adjective /
ntəmidiə kəmprs(ə)n/ noun a
allowing the customer and seller to in- comparison of different media to decide
fluence the presentation of information how suitable they are for advertising 쑗
or the development of strategies We will carry out intermedia compari-
interactive marketing /
ntərktv sons before deciding on our promo-
mɑktŋ/ noun marketing strategies tional strategy. Compare intramedia
which are developed as a result of deci- comparison
sions taken by both salespeople and intermediate goods /ntəmidiət
customers "υdz/ plural noun goods bought for use
interactive media /
ntərktv in the production of other goods
midiə/ plural noun media that allow internal /nt&n(ə)l/ adjective 1. in-
the customer to interact with the source side a company 왍 we decided to make
of the message, receiving information an internal appointment we decided to
and replying to questions, etc. appoint an existing member of staff to
internal analysis 144 Internet

the post, and not bring someone in from internal trade /n
t&n(ə)l tred/
outside the company 2. inside a country noun trade between various parts of a
country (NOTE: the opposite is external
internal analysis /n
t&n(ə)l trade)
ənləss/ noun detailed examination
and reports on the product or service of- international /
ntənʃ(ə)nəl/ ad-
fered and the company itself jective working between countries
internal communication /n- international marketing

t&n(ə)l kə
mjunkeʃ(ə)n/ noun /
ntənʃ(ə)nəl mɑktŋ/ noun the
communication between employees or marketing of a company’s products
departments of the same organisation abroad 쑗 Our international marketing
(NOTE: Internal communication can so far consists of exporting to three
take various forms such as team brief- countries. 쑗 The next stage in the com-
ings, interviewing, employee or works pany’s international marketing was the
councils, meetings, memos, an setting up of factories overseas.
intranet, newsletters, suggestion international media
schemes, the grapevine, and reports.) /
ntənʃ(ə)nəl midiə/ plural noun
internal desk research /n
t&n(ə)l advertising media that cover several
desk r
s&tʃ/ noun research based on countries and can be used to reach audi-
information in a company’s own records ences in them
such as customer accounts and sales International Monetary Fund
reports /
ntənʃ(ə)nəl m nt(ə)ri
f nd/ a
internal flight /n
t&n(ə)l flat/ type of bank which is part of the United
noun a flight to a town inside the same Nations and helps member states in fi-
country nancial difficulties, gives financial ad-
vice to members and encourages world
internalisation /n
t&nəla- trade. Abbr IMF
zeʃ(ə)n/, internalization noun a pro-
international monetary system
cess by which individuals identify infor-
/
ntənʃ(ə)nəl m nt(ə)ri
sstəm/
mation which is relevant to them
noun methods of controlling and ex-
personally and so acquire values and
changing currencies between countries
norms which allow them to make
decisions international postal reply cou-
pon /
ntənʃ(ə)nəl
pəυst(ə)l rpla
internally /nt&n(ə)l/ adverb inside ku
pɒn/ noun a coupon which can be
a company 쑗 The job was advertised used in another country to pay the post-
internally. age of replying to a letter 쑗 Shee en-
internal marketing /n
t&n(ə)l closed an international reply coupon
mɑktŋ/ noun marketing conducted with her letter.
inside a large organisation, where inde- international trade /
ntənʃ(ə)nəl
pendent departments sell goods or ser- tred/ noun trade between different
vices to each other countries
Internal Revenue Service /n- Internet /ntənet/ noun the global,

t&n(ə)l revənju
s&vs/ noun US a public network of computers and tele-
government department which deals phone links that houses websites, allows
with tax. Abbr IRS email to be sent and is accessed with the
internal search /n
t&n(ə)l s&tʃ/ aid of a modem (NOTE: The Internet
noun the process by which a consumer uses the Internet Protocol (IP) as a
acquires information from past experi- communication standard.)
ence or something he or she has ‘…they predict a tenfold increase in sales via
remembered internet or TV between 1999 and 2004’
[Investors Chronicle]
internal telephone /n
t&n(ə)l ‘…in two significant decisions, the Securities
telfəυn/ noun a telephone which is and Exchange Board of India today allowed
linked to other telephones in an office trading of shares through the Internet and set a
Internet commerce 145 inventory

deadline for companies to conform to norms for intramedia comparison

good corporate governance’ [The Hindu]
/
ntrəmidiə kəmprs(ə)n/ noun
Internet commerce /ntənet a comparison of different advertising

kɒm&s/ noun the part of e-commerce options within the same medium 쑗 After
that consists of commercial business extensive intramedia comparison we
transactions conducted over the Internet now know all the possibilities of TV ad-
Internet marketing /ntənet vertising. Compare intermedia

mɑktŋ/ noun the marketing of prod- comparison
ucts or services over the Internet intranet /ntrənet/ noun a network of
Internet merchant /ntənet computers and telephone links that uses

m&tʃənt/ noun a businessman or busi- Internet technology but is accessible
nesswoman who sells a product or ser- only to the employees of a particular or-
vice over the Internet ganisation (NOTE: An intranet that is ex-
Internet payment system tended beyond the employees of an
/
ntənet pemənt
sstəm/ noun any organisation to include, for example,
mechanism that enables funds to be suppliers, customers or distributors, it
transferred from a customer to seller or is called an extranet.)
from one business to another via the intransient /ntrnziənt/ adjective
Internet referring to an advertisement which the
Internet security /
ntənet s- target audience can keep and look at
kjυərti/ noun the means used to pro- again, e.g. in a newspaper or magazine,
tect websites and other electronic files as opposed to a transient advertisement
against attacks by hackers and viruses on TV or radio
interpolation /n
t&pəleʃ(ə)n/ intrinsic value /n
trnsk vlju/
noun a method of estimating a value be- noun the material value of something 쑗
tween two established values These objects have sentimental value,
interstate commerce /
ntəstet but no intrinsic value at all. 쑗 The in-
kɒm&s/ noun US commerce between trinsic value of jewellery makes it a
different states which is therefore sub- good investment.
ject to federal government control introduce /
ntrədjus/ verb to make
interstitial /
ntəstʃ(ə)l/ noun a someone get to know somebody or
page of advertising which is inserted something 왍 to introduce a client to
into a website bring in a new client and make them
interview /ntəvju/ noun talking to known to someone 왍 to introduce a
a person who is applying for a job to new product on the market to produce
find out whether they are suitable for it a new product and launch it on the
쑗 We called six people for interview. 쑗 market
During my appraisal interview my boss introductory offer /
ntrəd kt(ə)ri
and I agreed some targets for the next ɒfə/ noun a special price offered on a
few months. 쑗 I have an interview next new product to attract customers
week or I am going for an interview next
week. 쐽 verb to talk to a person apply- inventory /nvənt(ə)ri/ noun 1. (es-
ing for a job to see if they are suitable 쑗 pecially US) all the stock or goods in a
We interviewed ten candidates, but warehouse or shop 쑗 to carry a high in-
found no one suitable. ventory 쑗 to aim to reduce inventory 2.
a list of the contents of a building such
interviewee /
ntəvjui/ noun the as a house for sale or an office for rent 쑗
person who is being interviewed 쑗 The to draw up an inventory of fixtures and
interviewer did everything to put the in- fittings 왍 to agree the inventory to
terviewee at ease. 쑗 The interviewees agree that the inventory is correct 3. ad-
were all nervous as they waited to be vertising time or space which is not used
called into the interview room. and is available 쐽 verb to make a list of
interviewer /ntəvjuə/ noun the stock or contents
person who is conducting an interview
inventory control 146 issue

‘…a warehouse needs to tie up less capital in voice 쐽 verb to send an invoice to
inventory and with its huge volume spreads out someone 쑗 to invoice a customer 왍 we
costs over bigger sales’ [Duns Business Month]
invoiced you on November 10th we
inventory control /nvənt(ə)ri sent you the invoice on November 10th
kən
trəυl/ noun a system of checking
invoice clerk /nvɔs klɑk/ noun an
that there is not too much stock in a
office worker who deals with invoices
warehouse, but just enough to meet
requirements invoice price /nvɔs pras/ noun
the price as given on an invoice, includ-
investment /nvestmənt/ noun the ing any discount and VAT
placing of money so that it will produce
interest and increase in value 쑗 They invoicing /nvɔsŋ/ noun the send-
called for more government investment ing of invoices 쑗 All our invoicing is
in new industries. 쑗 She was advised to done by computer. 왍 invoicing in tripli-
make investments in oil companies. cate the preparation of three copies of
‘…investment trusts, like unit trusts, consist of invoices
portfolios of shares and therefore provide a invoicing department /nvɔsŋ
spread of investments’ [Investors Chronicle] d
pɑtmənt/ noun the department in a
‘…investment companies took the view that company which deals with preparing
prices had reached rock bottom and could only
go up’ [Lloyd’s List]
and sending invoices
investment advertising /n-
inward /nwəd/ adjective towards the
home country
vestmənt
dvətazŋ/ noun large
expenditure on advertising to achieve inward bill /nwəd bl/ noun a bill of
long-term objectives lading for goods arriving in a country
investment spending /n- inward mission /
nwəd mʃ(ə)n/
vestmənt
spendŋ/ noun spending noun a visit to your home country by a
more than normal on advertising with group of foreign businesspeople
the expectation of increased sales and IP address /a pi ə
dres/ noun a
profits unique 32-bit number that defines the
investor relations research /n- precise location of a computer con-

vestə rleʃ(ə)nz r
s&tʃ/ noun re- nected to a network or the Internet
search that allows a company to see how irrevocable /revəkəb(ə)l/ adjective
financial institutions such as merchant which cannot be changed
banks view the company irrevocable acceptance /-
invisible assets /n
vzb(ə)l
revəkəb(ə)l əkseptəns/ noun accep-
sets/ plural noun assets which have a tance which cannot be withdrawn
value but which cannot be seen, e.g. island display /alənd ds
ple/
goodwill or patents noun same as island site
invisibles /nvzb(ə)lz/ plural noun island position /
alənd pəzʃ(ə)n/
invisible imports and exports noun advertising space separated from
invitation to tender /
nvteʃ(ə)n other advertising space in a newspaper
tə tendə/ noun a formal request, sent or magazine 쑗 An island position is ex-
to a small number of suppliers, asking pensive but will attract great attention.
them to submit a detailed proposal for island site /alənd sat/, island dis-
completing a particular piece of work play /alənd ds
ple/ noun an exhibi-
invoice /nvɔs/ noun a note asking tion stand separated from others 쑗
for payment for goods or services sup- There are only two island sites at the ex-
plied 쑗 your invoice dated November hibition and we have one of them. 쑗 An
10th 쑗 to make out an invoice for £250 island site means that visitors can ap-
쑗 to settle or to pay an invoice 쑗 They proach the stand from several
sent in their invoice six weeks late. 왍 the directions.
total is payable within thirty days of issue /ʃu/ noun the number of a
invoice the total sum has to be paid newspaper or magazine 쑗 We have an
within thirty days of the date on the in- ad in the January issue of the magazine.
issue life 147 IVR

쐽 verb to put out or to give out 쑗 to is- following items from your catalogue. 2.
sue a letter of credit 쑗 to issue shares in a piece of information 쑗 items on a bal-
a new company 쑗 to issue a writ against ance sheet 왍 item of expenditure goods
someone 쑗 The government issued a re- or services which have been paid for
port on London’s traffic. and appear in the accounts 3. a point on
issue life /ʃu laf/ noun the time a list 왍 we will now take item four on
between one issue of a publication and the agenda we will now discuss the
another 쑗 The reason the magazine’s fourth point on the agenda
advertising rates are so expensive is be- itemise /atəmaz/, itemize verb to
cause it has an issue life of three make a detailed list of things 쑗 Item-
months. izing the sales figures will take about
issuer /ʃuə/ noun a financial institu- two days.
tion that issues credit and debit cards itemised account /
atəmazd ə-
and maintains the systems for billing kaυnt/ noun a detailed record of
and payment money paid or owed
ITC abbr Independent Television itemised invoice /
atəmazd
Commission nvɔs/ noun an invoice which lists
item /atəm/ noun 1. something for each item separately
sale 왍 we are holding orders for itinerary /atnərəri/ noun a list of
out-of-stock items we are holding or- places to be visited on one journey 쑗 a
ders for goods which are not in stock 쑗 salesrep’s itinerary
Please find enclosed an order for the IVR abbr interactive voice response
jargon 148 journey planning

JK

jargon /dɑ"ən/ noun a special sort job specification /dɒb spesf-

of language used by a trade or profes- keʃ(ə)n/ noun a very detailed descrip-
sion or particular group of people tion of what is involved in a job
job /dɒb/ noun 1. a piece of work 2. joined-up /dɔnd p/ adjective in-
an order being worked on 쑗 We are volving two or more individuals or or-
working on six jobs at the moment. 쑗 ganisations who share information and
The shipyard has a big job starting in co-ordinate their activities in order to
August. achieve their aims more effectively
jobber /dɒbə/ noun US a wholesaler joint account /dɔnt əkaυnt/ noun
‘…warehouse clubs buy directly from a bank or building society account
manufacturers, eliminating jobbers and shared by two people 쑗 Many married
wholesale middlemen’ [Duns Business Month] couples have joint accounts so that they
jobbing /dɒbŋ/ noun the practice of can pay for household expenses.
doing small pieces of work Joint Photographics Experts
jobbing printer /dɒbŋ
prntə/ Group noun full form of JPEG
noun a person who does small printing journal /d&n(ə)l/ noun 1. a book
jobs with the account of sales and purchases
jobbing production /
dɒbŋ prə- made each day 2. a magazine
d kʃən/ noun the production of several journalist /d&n(ə)lst/ noun a per-
different articles, each to individual son who writes for a newspaper
requirements
journey /d&ni/ noun a long trip, es-
job classification /dɒb klsf- pecially a trip made by a salesperson 쑗

keʃ(ə)n/ noun describing jobs listed in She planned her journey so that she
various groups could visit all her accounts in two days.
job description /dɒb d
skrpʃən/ journey mapping /d&ni
mpŋ/
noun a description of what a job con- noun a method of calculating how many
sists of and what skills are needed for it people pass a poster site 쑗 Journey
쑗 The letter enclosed an application mapping allows us to pinpoint the ten
form and a job description. key sites we will be renting for the next
job lot /dɒb lɒt/ noun a group of three months.
miscellaneous items sold together 쑗 journey order /d&ni
ɔdə/ noun
They sold the household furniture as a an order given by a shopkeeper to a
job lot. salesperson when they call
job opening /dɒb
əυp(ə)nŋ/ journey planning /d&ni
plnŋ/
noun jobs which are empty and need noun the act of planning what calls a
filling 쑗 We have job openings for office salesperson will make and how they will
staff. be reached most efficiently, giving pri-
job satisfaction /dɒb sts- ority to the more profitable accounts 쑗

fkʃən/ noun an employee’s feeling The sales manager will stress how good
that he or she is happy at work and journey planning will save precious
pleased with the work he or she does time. 쑗 Inefficient journey planning
JPEG 149 keyed advertisement

means miles of unnecessary travelling 쑗 We are facing some keen competition

for the sales force every day. from European manufacturers. 왍 keen
JPEG /de pe"/ noun a file format demand wide demand 쑗 There is a keen
used to compress and store photo- demand for home computers. 2. 왍 keen
graphic images for transfer over the prices prices which are kept low so as to
Internet be competitive 쑗 Our prices are the
keenest on the market.
judgement /d dmənt/, judgment
noun an assessment or evaluation of the kerbside conference /
k&bsad
quality of someone or something kɒnf(ə)rəns/ noun a discussion of sell-
ing techniques between a trainee sales-
judgement forecasting person and the person training them
/d dmənt
fɔkɑstŋ/ noun fore-
after making a sales call 쑗 In the
casting based on judgement rather than
kerbside conference, the sales trainer
on any scientific techniques 쑗 We need
described a number of different ap-
more precise information so that we can
proaches that might have been made to
extrapolate rather than use judgement
a particular customer.
forecasting. 쑗 Market research depart-
ments find judgement forecasting too key /ki/ adjective important 쑗 a key
subjective and unreliable. factor 쑗 key industries 쑗 key personnel
쑗 a key member of our management
judgement sampling /d dmənt

sɑmplŋ/ noun the choosing of a sam- team 쑗 She has a key post in the organi-
ple for a survey based on judgement of sation. 쑗 We don’t want to lose any key
what criteria would be especially signif- staff in the reorganisation.
‘…he gave up the finance job in September to
icant rather than applying any scientific devote more time to his global responsibilities
techniques 쑗 Judgement sampling can as chairman and to work more closely with key
produce an insufficiently representative clients’ [Times]
sample. key account /ki ə
kaυnt/ noun an
jumbo /d mbəυ/ adjective very important account or client, e.g. of an
large 쑗 jumbo-sized pack or jumbo pack advertising agency
junk mail /d ŋk mel/ noun unso- key account management /ki
licited advertising material sent through ə
kaυnt
mndmənt/ noun the man-
the post and usually thrown away imme- agement of the small number of key ac-
diately by the people who receive it counts which represent the bulk of a
jury of executive opinion /
dυəri company’s business. Abbr KAM
əv "
zekjυtv əpnjən/ noun a panel keyboard /kibɔrd/ noun the part of
of executives used to contribute to a computer or other device with keys
forecasting which are pressed to make letters or fig-
just-in-time /d stntam/ noun ures 쐽 verb to press the keys on a key-
abbr JIT board to type something 쑗 She is
just-in-time production /
d st n keyboarding our address list.

tam prəd kʃən/ noun making goods keyboarder /kibɔdə/ noun a per-
to order just before they are needed, so son who types information into a
as to avoid having too many goods in computer
stock. Abbr JIT keyboarding /kibɔdŋ/ noun the
just-in-time purchasing /
d st n act of typing on a keyboard 쑗 Key-

tam p&tʃsŋ/ noun a purchasing boarding costs have risen sharply.
system where goods are purchased im- key code /ki kəυd/ noun a letter and
mediately before they are needed, so as number code printed on mailshots so
to avoid carrying high levels of stock. that the respondents can be identified
Abbr JIT
keyed advertisement /
kid əd-
KAM abbr key account management v&tsmənt/ noun an advertisement
keen /kin/ adjective 1. eager or active which asks people to write to a specially
왍 keen competition strong competition coded address which will indicate where
key number 150 knowledge management

they saw it, thus helping the advertisers She had a newspaper kiosk near the sta-
to evaluate the effectiveness of advertis- tion for 20 years.
ing in that particular newspaper or KISS /ks/ noun the need to make sure
magazine your advertising is clear and concise so
key number /ki
n mbə/ noun the as to improve its chances of getting a re-
number used in a keyed advertisement sponse. Full form keep it simple,
stupid
keypad /kipd/ noun a set of keys
on a computer Kitemark /kat mɑk/ trademark GB
a mark on goods to show that they meet
key prospects /ki prɒspekts/ plu- official standards
ral noun potential customers 쑗 In this
sales campaign we will be concentrat-
knock /nɒk/ verb 왍 to knock the com-
petition to hit competing firms hard by
ing on key prospects. 쑗 This is bad jour-
vigorous selling
ney planning since it does not allow
sufficient time to visit all the key knock down /
nɒk daυn/ verb 왍 to
prospects. knock something down to a bidder to
sell something to somebody at an auc-
keyword /kiw&d/ noun a word used tion 쑗 The furniture was knocked down
by a search engine to help it locate a to him for £100.
particular type of website (NOTE: Com-
panies need to think very carefully knockdown /nɒkdaυn/ noun 왍
about the keywords they place in their knockdown (KD) goods goods sold in
webpages in order to attract relevant parts, which must be assembled by the
search-engine traffic.) buyer
knocking copy /nɒkŋ
kɒpi/ noun
keyword search /kiw&d s&tʃ/ advertising material which criticises
noun a search for documents containing
competing products
one or more words that are specified by
a search-engine user knock off /
nɒk ɒf/ verb to reduce a
price by a particular amount 쑗 She
kickback /kkbk/ noun an illegal knocked £10 off the price for cash.
commission paid to someone, especially
a government official, who helps in a know-how /nəυ haυ/ noun knowl-
business deal edge or skill in a particular field 쑗 to ac-
quire computer know-how
Kimball tag /kmb(ə)l t"/ noun a knowledge capital /nɒld
paper tag attached to an item for sale,

kpt(ə)l/ noun knowledge, especially
which is removed when the item has
specialist knowledge, that a company
been sold and kept by the store so that it
and its employees possess and that can
can be used for stock control
be put to profitable use
king-size /kŋ saz/ adjective 1. re- knowledge management /nɒld
ferring to an extra large container of a
mndmənt/ noun 1. the task of
product, usually comparatively econom- co-ordinating the specialist knowledge
ical to buy 2. referring to a very large possessed by employees so that it can be
size of poster exploited to create benefits and compet-
kiosk /kiɒsk/ noun a small wooden itive advantage for the organisation 2.
shelter, for selling goods out of doors 쑗 same as information management
label 151 late

label /leb(ə)l/ noun a piece of paper landed costs /
lndd kɒsts/ plural
or card attached to something to show noun the costs of goods which have
its price or an address or instructions for been delivered to a port, unloaded and
use 쐽 verb to attach a label to something passed through customs
labelling /leb(ə)lŋ/ noun the act of landing card /lndŋ kɑd/ noun a
putting a label on something (NOTE: la- card given to passengers who have
belling- labelled. The American spell- passed through customs and can land
ing is labeling- labeled.) from a ship or an aircraft
labelling department /leb(ə)lŋ landing charges /lndŋ
d
pɑtmənt/ noun a section of a fac-
tʃɑdz/ plural noun payment for
tory where labels are attached to the putting goods on land and paying cus-
product toms duties
laboratory test /ləbɒrət(ə)ri test/ landing order /lndŋ
ɔdə/ noun a
noun a test carried out under controlled permit which allows goods to be un-
conditions, e.g. of the reactions of con- loaded into a bonded warehouse without
sumers to advertising paying customs duty
labour-intensive industry /
lebər landing page /lndŋ ped/ noun
n
tensv ndəstri/ noun an industry the page on a website where the user ar-
which needs large numbers of workers, rives, in particular the page you arrive
where labour costs are high in relation on when directed by a hyperlink
to turnover landscape /lndskep/ noun an il-
labour market /lebə
mɑkt/ noun lustration page or book whose width is
the number of wokers who are available greater than its height. Compare
for work 쑗 25,000 school-leavers have portrait
just come on to the labour market. laser printer /lezə
prntə/ noun
lading /ledŋ/ noun the putting of computer printer which uses a laser
goods on a ship source to print high-quality dot matrix
characters on paper
laggards /l"ədz/ plural noun a cat- laser printing /lezə
prntŋ/ noun
egory of buyers of a product who are the
printing using a laser printer
last to buy it or use it
late /let/ adjective 1. after the time
laissez-faire economy /
lese feər stated or agreed 쑗 We apologise for the

kɒnəm/ noun an economy where the late arrival of the plane from Amster-
government does not interfere because it dam. 왍 there is a penalty for late deliv-
believes it is right to let the economy ery if delivery is later than the agreed
run itself date, the supplier has to pay a fine 2. at
land /lnd/ verb to put goods or pas- the end of a period of time 왍 latest date
sengers onto land after a voyage by sea for signature of the contract the last
or by air 쑗 The ship landed some goods acceptable date for signing the contract
at Mombasa. 쑗 The plane stopped for 쐽 adverb after the time stated or agreed
thirty minutes at the local airport to 쑗 The shipment was landed late. 쑗 The
land passengers and mail. plane was two hours late.
late majority 152 layout

late majority /
let mədɒrti/ noun put back three months. 쑗 The manage-
a category of buyers of a product who ment has decided on a September
buy it later than the early majority but launch date. 쑗 The company is geared
before the laggards up for the launch of its first
latent /let(ə)nt/ adjective present but microcomputer.
not yet developed 왍 latent market a po- launching /lɔntʃŋ/ noun the act of
tential market which has not so far been putting a new product on the market
touched launching costs /lɔntʃŋ kɒsts/
latent demand /
let(ə)nt dmɑnd/ plural noun the costs of publicity for a
noun a situation where there is demand new product
for a product but potential customers are launching date /lɔntʃŋ det/
unable to pay for it 쑗 We will have to noun the date when a new product is of-
wait for the economy to improve in ficially shown to the public for the first
countries where there is latent demand. time
쑗 Situation analysis has shown that launching party /lɔntʃŋ
pɑti/
there is only latent demand. noun a party held to advertise the
lateral /lt(ə)rəl/ adjective at the launching of a new product
same level or with the same status 쑗 law /lɔ/ noun a general rule
Her transfer to Marketing was some-
thing of a lateral move. law of diminishing returns /
lɔr
əv d
mnʃŋ rt&nz/ noun a general
lateral diversification /
lt(ə)rəl rule that as more factors of production
da
v&sfkeʃ(ə)n/ noun the act of such as land, labour and capital are
diversifying into quite a different type added to the existing factors, so the
of business amount they produce is proportionately
lateral integration /
lt(ə)rəl ntə- smaller
"reʃ(ə)n/ noun the act of joining simi- law of inertia of large numbers
lar companies or taking over a company /
lɔr əv 
n&ʃər əv
lɑd n mbəz/
in the same line of business as yourself noun a general rule that larger samples
쑗 Lateral integration will allow a pool- are more likely to be representative of
ing of resources. 쑗 Lateral integration the population than small ones
in the form of a merger will improve the law of statistical regularity /
lɔr
efficiency of both businesses involved. əv stə
tstk(ə)l re"jυlrti/ noun a
lateral thinking /
lt(ə)rəl θŋkŋ/ general rule that a group of people or
noun an imaginative approach to prob- objects taken from a larger group of
lem-solving which involves changing people or objects will tend to resemble
established patterns of thinking to help the larger group
make a breakthrough 쑗 Lateral thinking law of supply and demand /
lɔr
resulted in finding a completely new use əv sə
pla ən dmɑnd/ noun a general
for an existing product. 쑗 Brainstorm- rule that the amount of a product which
ing sessions encourage lateral thinking is available is related to the needs of po-
and originality. tential customers
latest /letst/ adjective most recent 쑗 layout /leaυt/ noun 1. the arrange-
He always drives the latest model of car. ment of the inside space of a building or
쑗 Here are the latest sales figures. its contents 쑗 They have altered the lay-
launch /lɔntʃ/ verb to put a new out of the offices. 2. the arrangement of
product on the market, usually spending words and pictures on a printed page, in
money on advertising it 쑗 They an advertisement, on an email advertis-
launched their new car model at the mo- ing message, etc., including the head-
tor show. 쑗 The company is spending line, illustrations, text, and trademarks 쑗
thousands of pounds on launching a I like the illustration and the copy but
new brand of soap. 쐽 noun the act of not the layout. 쑗 The layout needs to be
putting a new product on the market 쑗 changed so that other features are
The launch of the new model has been highlighted.
lead 153 legalise

lead /lid/ verb to be the main person in something 쑗 to mail leaflets advertising
a group 쑗 She will lead the trade mis- a new hairdressing salon 쑗 They are
sion to Nigeria. 쑗 The tour of American handing out leaflets describing the fi-
factories will be led by the minister. nancial services they offer. 쑗 We made
(NOTE: leading – led) 쐽 noun 1. infor- a leaflet mailing to 20,000 addresses.
mation which may lead to a sale 쑗 It has
been difficult starting selling in this ter- leakage /likd/ noun an amount of
ritory with no leads to follow up. 쑗 I goods lost in storage, e.g. by going bad
was given some useful leads by the sales or by being stolen or by leaking from
rep who used to cover this territory. 2. a the container
prospective purchaser who is the main learning curve /l&nŋ k&v/ noun a
decision-maker when buying a product gradual process of learning, as shown on
or service an imaginary scale
leader /lidə/ noun 1. a person who learning organisation /l&nŋ
manages or directs others 쑗 the leader ɔ"əna
zeʃ(ə)n/ noun an organisation
of the construction workers’ union or whose employees are willing and eager
the construction workers’ leader 쑗 She to share information with each other, to
is the leader of the trade mission to Ni- learn from each other, and to work as a
geria. 쑗 The minister was the leader of team to achieve their goals
the party of industrialists on a tour of lease /lis/ noun a written contract for
American factories. 쑗 The leader of the letting or renting a building, a piece of
trade delegation was invited to meet the land or a piece of equipment for a period
President. 2. a product which sells best against payment of a fee 쑗 to rent office
‘…market leaders may benefit from scale space on a twenty-year lease 왍 the lease
economies or other cost advantages; they may
enjoy a reputation for quality simply by being at expires next year or the lease runs out
the top, or they may actually produce a superior next year the lease comes to an end
product that gives them both a large market next year
share and high profits’ [Accountancy]
leave leaflet /liv
liflət/ noun a
leader pricing /lidə
prasŋ/ noun promotional leaflet left by a salesperson
the practice of cutting prices on some with a prospective customer
goods in the hope that they attract cus-
tomers to the shop where more profit- ledger /ledə/ noun a book in which
able sales can be made accounts are written
lead generation /lid denə- legal /li"(ə)l/ adjective 1. according

reʃ(ə)n/ noun the process of finding to the law or allowed by the law 쑗 The
prospective purchasers company’s action was completely legal.
2. referring to the law 왍 to take legal
leading question /
lidŋ action to sue someone or to take some-
kweʃtʃən/ noun a question in a ques- one to court 왍 to take legal advice to
tionnaire which, by its phrasing, sug- ask a lawyer to advise about a legal
gests a certain answer 쑗 Interviewers problem
were trained to avoid bias and leading
questions. 쑗 The leading question pres- legal adviser /
li"(ə)l ədvazə/
surized the respondent into answering noun a person who advises clients about
untruthfully. the law
lead partner /lid
pɑtnə/ noun the legal currency /
li"(ə)l k rənsi/
organisation that takes the leading role noun money which is legally used in a
in an alliance country
lead sourcing /lid
sɔsŋ/ noun legalisation /
li"əlazeʃ(ə)n/, le-
searching through online databases to galization noun the act of making
find the addresses of potential something legal 쑗 the campaign for the
customers legalisation of cannabis
leaflet /liflət/ noun a sheet of paper legalise /li"əlaz/, legalize verb to
giving information, used to advertise make something legal
legality 154 level playing field

legality /l"lɔt/ noun the fact of be- people or organisations and acts as a
ing allowed by law 쑗 There is doubt simple form of contract
about the legality of the company’s ac- letter of complaint /
letər əv kəm-
tion in dismissing him. plent/ noun a letter in which someone
legally /li"əli/ adverb according to complains
the law 왍 the contract is legally bind- letter of credit /
letər əv kredt/
ing according to the law, the contract noun a document issued by a bank on
has to be obeyed 왍 the directors are le- behalf of a customer authorising pay-
gally responsible the law says that the ment to a supplier when the conditions
directors are responsible specified in the document are met (this
legend /ledənd/ noun a short note is a common method of guaranteeing
printed underneath an illustration to ex- payment by overseas customers). Abbr
plain it L/C
legislation /
ledsleʃ(ə)n/ noun letter of indemnity /
letər əv n-
laws demnti/ noun a letter promising pay-
legs /le"z/ plural noun the ability of an ment as compensation for a loss
advertising campaign, a film, a book, or letter of inquiry /
letər əv n-
other usually short-lived product to in- kwaəri/ noun a letter from a prospec-
terest people for a much longer time tive buyer to a supplier inquiring about
than normal (informal )
. products and their prices 쑗 The letter of
leisure market /leə
mɑkt/ noun inquiry requested us to send our cata-
people who have plenty of leisure time logues and price lists. 쑗 We received a
and are willing to buy products or ser- letter of inquiry concerning possible
vices to occupy their time trade discounts.
lemon /lemən/ noun 1. a product, es- lettershop /letəʃɒp/ noun a com-
pany that puts together the various ele-
pecially a car, that is defective in some
ments of a direct mailing shot, and sorts
way 2. an investment that is performing
the envelopes by addresses
poorly
letters of administration /
letəz
lending limit /lendŋ
lmt/ noun a əv ədmnstreʃ(ə)n/ plural noun a
restriction on the amount of money a letter given by a court to allow someone
bank can lend to deal with the estate of a person who
letter /letə/ noun a piece of writing has died
sent from one person or company to an- letters patent /
letəz pet(ə)nt/ plu-
other to ask for or to give information ral noun the official term for a patent
letterhead /letəhed/ noun the name level /lev(ə)l/ noun the position of
and address of a company printed at the something compared to others 쑗 low
top of a piece of notepaper levels of productivity or low productivity
letter of acknowledgement /
letər levels 쑗 to raise the level of employee
əv əknɒldmənt/ noun a letter which benefits 쑗 to lower the level of
says that something has been received borrowings
letter of advice /
letər əv ədvas/ ‘…figures from the Fed on industrial production
for April show a decline to levels last seen in
noun a letter to a customer giving de- June 1984’ [Sunday Times]
tails of goods ordered and shipped but
‘…applications for mortgages are running at a
not yet delivered 쑗 The letter of advice high level’ [Times]
stated that the goods would be at
‘…employers having got their staff back up to a
Southampton on the morning of the 6th. reasonable level are waiting until the scope for
쑗 The letter of advice reminded the cus- overtime working is exhausted before hiring’
tomer of the agreed payment terms. [Sydney Morning Herald]
letter of agreement /
letər əv ə- level playing field /
lev(ə)l pleŋ
"rimənt/ noun a document that sets fild/ noun a situation in which the same
out what has been agreed between two rules apply for all competitors and none
levy 155 light industry

of them has any special advantage over licensing /las(ə)nsŋ/ adjective re-
the others ferring to licences 쑗 a licensing agree-
levy /levi/ noun money which is de- ment 쑗 licensing laws
manded and collected by the govern- licensing agreement /las(ə)nsŋ
ment 왍 levies on luxury items taxes on ə
"rimənt/ noun an agreement
luxury items where a person or company is granted a
liabilities /
laəbltiz/ plural noun licence to manufacture something or to
the debts of a business, including divi- use something, but not an outright sale
dends owed to shareholders 쑗 The bal- licensing hours /las(ə)nsŋ
aυəz/
ance sheet shows the company’s assets plural noun the hours of the day when
and liabilities. 왍 he was not able to alcohol can be sold
meet his liabilities he could not pay his licensing laws /las(ə)nsŋ
lɔz/
debts 왍 to discharge your liabilities in plural noun the laws which control
full to pay everything which you owe when and where alcohol can be sold
liability /
laəblti/ noun a legal re- licensor /lasensə/ noun a person
sponsibility for damage or loss, etc. 쑗 who licenses someone
The brand name has become a liability
to the company. 왍 to accept liability for lien /lin/ noun the legal right to hold
something to agree that you are respon- someone’s goods and keep them until a
sible for something 왍 to refuse liability debt has been paid
for something to refuse to agree that life /laf/ noun the period of time for
you are responsible for something which something or someone exists
liable /laəb(ə)l/ adjective 왍 liable life cycle /laf
sak(ə)l/ noun a con-
for legally responsible for 쑗 The cus- cept used for charting the different
tomer is liable for breakages. 쑗 The stages in the life of people, animals or
chairman was personally liable for the products
company’s debts. life expectancy /laf kspektənsi/
licence /las(ə)ns/ noun 1. an official noun the number of years a person is
document which allows someone to do likely to live
something (NOTE: the American spell- lifestyle /laf stal/ noun a way of
ing is license) 2. 왍 goods manufac- living of a particular section of society
tured under licence goods made with 쑗 These upmarket products appeal to
the permission of the owner of the copy- people with an extravagant lifestyle. 쑗
right or patent The magazine ran a series of articles on
licence agreement /las(ə)ns ə- the lifestyles of some successful

"rimənt/ noun a legal document businessmen.
which comes with a software product lifestyle segmentation /laf stal
and defines how you can use the soft- se"men
teʃ(ə)n/ noun the dividing of
ware and how many people are allowed a market into segments according to the
to use it way in which customers live. 쏡 VALS
license /las(ə)ns/ noun US spelling lifetime /laftam/ noun the time
of licence 쐽 verb to give someone offi- when you are alive
cial permission to do something for a
fee, as when a company allows another lifetime customer value /
laftam
company to manufacture its products k stəmə
vlju/, lifetime value
abroad 쑗 licensed to sell beers, wines /laftam
vlju/ noun the value of a
and spirits 쑗 to license a company to customer to a firm during the cus-
manufacture spare parts 쑗 She is li- tomer’s lifetime, which can be charted
censed to run an employment agency. using technology and market research
licensee /
las(ə)nsi/ noun a person light /lat/ adjective not heavy
who has a licence, especially a licence light industry /
lat ndəstri/ noun
to sell alcohol or to manufacture an industry making small products such
something as clothes, books, or calculators
light pen 156 line management

light pen /lat pen/ noun a type of limited market /
lmtd mɑkt/
electronic pen which directs a beam of noun a market which can take only a
light which, when passed over a bar specific quantity of goods
code, can read it and send information limiting /lmtŋ/ adjective which
back to a computer limits 쑗 a limiting clause in a contract
light viewer /lat vjuə/ noun a per- 쑗 The short holiday season is a limiting
son who watches little television 쑗 If factor on the hotel trade.
too many of the target audience are line /lan/ noun 1. a long mark printed
light viewers, the impact of the commer- or written on paper 쑗 paper with thin
cials will be wasted. blue lines 쑗 I prefer notepaper without
limit /lmt/ noun the point at which any lines. 쑗 She drew a thick line before
something ends or the point where you the column of figures. 2. same as prod-
can go no further 왍 to set limits to im- uct line 3. a row of letters or figures on
ports or to impose import limits to al- a page 왍 to open a line of credit or a
low only a specific amount of imports 쐽 credit line to make credit available to
verb to stop something from going be- someone
yond a specific point 왍 the banks have ‘…cash paid for overstocked lines, factory
limited their credit the banks have al- seconds, slow sellers, etc.’ [Australian
Financial Review]
lowed their customers only a specific
amount of credit 왍 each agent is lim- lineage /land/ noun a method of
ited to twenty-five units each agent is measuring a classified advertisement by
allowed only twenty-five units to sell counting the lines, used for charging
‘…the biggest surprise of 1999 was the rebound purposes
in the price of oil. In the early months of the
year commentators were talking about a fall to
linear /lniə/ adjective calculated by
$5 a barrel but for the first time in two decades, length
the oil exporting countries got their act together, linear measurement /
lniə
limited production and succeeded in pushing
prices up’ [Financial Times] meəmənt/, linear footage /
lniə
fυtd/ noun a measurement of how
limitation /
lmteʃ(ə)n/ noun the long something is such as the length of
act of allowing only a specific quantity shelving available for a display
of something 쑗 The contract imposes
limitations on the number of cars which
line block /lan blɒk/ noun a printing
block for line drawings
can be imported. 왍 limitation of liabil-
ity the fact of making someone liable line chart /lan tʃɑt/ noun a chart or
for only a part of the damage or loss graph using lines to indicate values
limited /lmtd/ adjective restricted line divestment /lan da-

vestmənt/ noun the dropping or sell-
limited company /
lmtd ing of an entire product line so as to
k mp(ə)ni/, limited liability com- concentrate on other products
pany /
lmtd laəblti
k mp(ə)ni/
noun a company where each share- line drawing /lan
drɔŋ/, line il-
holder is responsible for repaying the lustration /lan lə
streʃ(ə)n/ noun a
company’s debts only to the face value drawing or illustration consisting only
of the shares they own (NOTE: short- of lines and no tones. Shades are shown
ened to Ltd) by lines drawn close together.
limited function wholesaler line extension /lan k
stenʃən/
/
lmtd f ŋkʃən
həυlselə/ noun a noun the adding of another product to a
distributor performing only some of the product line
functions of a wholesaler 쑗 As a limited line filling /lan
flŋ/ noun the fill-
function wholesaler the dealer did not ing of gaps in a product line
provide a delivery service to retailers. line management /lan
limited liability /
lmtd laəblti/
mndmənt/, line organization
noun a situation where someone’s lia- /lan ɔ"əna
zeʃ(ə)n/ noun the or-
bility for debt is limited by law ganisation of a business where each
line rate 157 load

manager is responsible for doing what list host /lst həυst/ noun a company
his superior tells him to do that provides connections to the Internet
line rate /lan ret/ noun the rate and storage space on its computers
charged for advertising space, based on which can store the files for a user’s
the line space used in a newspaper or website (NOTE: also called a ‘host ser-
vice or hosting service provider’)
magazine
list maintenance /lst
line simplification /lan smplf-

mentənəns/ noun the process of

keʃ(ə)n/ noun the removal of some
keeping a mailing list up to date
products from a product line to make the
whole line more easily manageable list manager /lst
mndə/ noun
a person who promotes a mailing list to
link /lŋk/ noun graphics or an image potential users
which moves the user to another page or
online location when the user clicks on list price /lst pras/ noun the price
it. 쏡 hyperlink for something as given in a catalogue
liquid assets /
lkwd sets/ plural list rental /lst
rent(ə)l/ noun the ac-
noun cash, or investments which can be tion of renting a mailing list
quickly converted into cash list renting /lst
rentŋ/ noun an ar-
liquor licence /lkə
las(ə)ns/ noun rangement in which a company that
a government document allowing some- owns a direct mail list lets another com-
one to sell alcohol pany use it for a fee
list /lst/ noun 1. several items written literature /lt(ə)rətʃə/ noun written
one after the other 쑗 They have an at- information about something 쑗 Please
tractive list of products or product list. send me literature about your new prod-
쑗 I can’t find that item on our stock list. uct range.
쑗 Please add this item to the list. 쑗 She lithography /lθɒ"rəfi/ noun a print-
crossed the item off her list. 2. a cata- ing process by which a design is applied
logue 쐽 verb to write a series of items to a smooth flat surface with greasy ink
one after the other 쑗 to list products by or a crayon. The surface is wetted and
category 쑗 to list representatives by ink will adhere to the greasy parts, but
area 쑗 to list products in a catalogue 쑗 not to the wet parts.
The catalogue lists ten models of fax livery /lvəri/ noun a company’s own
machine. special design and colours, used e.g. on
list broker /lst
brəυkə/ noun a per- uniforms, office decoration and vehicles
son who arranges to sell mailing lists to living /lvŋ/ noun 왍 he does not earn
users, but who does not own the lists a living wage he does not earn enough
list building /lst
bldŋ/ noun find- to pay for essentials such as food, heat
ing names and addresses and entering and rent
them into a database for direct market- load /ləυd/ noun goods which are
ing purposes transported 왍 the load of a lorry/of a
list cleaning /lst
klinŋ/ noun container the goods carried by a lorry
checking the details of a mailing list to or in a container 왍 maximum load the
make sure they are correct largest weight of goods which a lorry or
listen /ls(ə)n/ verb to pay attention to plane can carry 쐽 verb 1. 왍 to load a
someone who is talking or to something lorry or a ship to put goods into a lorry
which you can hear or a ship for transporting 쑗 to load
cargo onto a ship 쑗 a truck loaded with
listening area /ls(ə)nŋ
eəriə/ boxes 쑗 a ship loaded with iron 왍 a
noun the area covered by a radio sta- fully loaded ship a ship which is full of
tion’s signal cargo 2. (of a ship) to take on cargo 쑗
listening share /ls(ə)nŋ ʃeə/ noun The ship is loading a cargo of wood. 3.
the share of the total audience enjoyed to put a program into a computer 쑗
by a radio station Load the word-processing program be-
load-carrying capacity 158 long-range

fore you start keyboarding. 4. to add ex- is sold only in a restricted area, and
tra charges to a price mainly carries news about that area
load-carrying capacity /ləυd local press /
ləυk(ə)l pres/ noun

kriŋ kə
psti/ noun the amount of newspapers which are sold in a small
goods which a lorry is capable of area of the country 쑗 The product was
carrying only advertised in the local press as it
loaded price /
ləυdd pras/ noun a was only being distributed in that area
price which includes an unusually large of the country.
extra payment for some service 쑗 That local radio station /
ləυk(ə)l
company is notorious for loading its rediəυ
steʃ(ə)n/ noun a radio station
prices. which broadcasts over a small area of
loading /ləυdŋ/ noun assigning the country
work to workers or machines 쑗 The pro- location /ləυkeʃ(ə)n/ noun 1. a
duction manager has to ensure that place where something is 2. a place, es-
careful loading makes the best use of pecially a site where still photographs or
human resources. films are made 쑗 We still have to decide
loading dock /ləυdŋ dɒk/ noun the on locations for the advertisements.
part of a harbour where ships can load logical models /
lɒdk(ə)l
or unload mɒd(ə)lz/ plural noun models of buyer
load time /ləυd tam/ noun in com- decision-making which assume that pur-
puting, the time it takes for a page of chasing is the result of a set of rational
data to open completely in a window decisions made by the purchaser 쑗 Log-
lobby /lɒbi/ noun a pressure group ical models do not allow for the unpre-
that tries to persuade a government or dictable side of buying behaviour.
law-makers to support a particular cause logistics /lədstks/ noun the task
or interest or science of managing the movement,
local /ləυk(ə)l/ adjective located in or storage, and processing of materials and
providing a service for a restricted area information in a supply chain (NOTE: Lo-
‘…each cheque can be made out for the local gistics includes the acquisition of raw
equivalent of £100 rounded up to a convenient materials and components, manufac-
figure’ [Sunday Times] turing or processing, and the distribu-
‘…the business agent for Local 414 of the Store tion of finished products to the end
Union said his committee will recommend that user.)
the membership ratify the agreement’
[Toronto Star] logistics management /lə-
‘EC regulations insist that customers can buy dstks
mndmənt/ noun the
cars anywhere in the EC at the local pre-tax management of the distribution of prod-
price’ [Financial Times] ucts to the market
local advertising /
ləυk(ə)l logo /ləυ"əυ/ noun a symbol, design
dvətazŋ/ noun advertising in the or group of letters used by a company as
area where a company is based a mark on its products and in advertising
localised /ləυkəlazd/, localized London gold fixing /
l ndən
adjective which occurs in one area only "əυld
fksŋ/ noun system where the
localised advertising strategy world price for gold is set each day in
/
ləυkəlazd dvətazŋ
strtədi/ London
noun planning an advertising cam- long lease /lɒŋ lis/ noun a lease
paign for a particular country or area of which runs for fifty years or more 쑗 to
a market rather than a global campaign take an office building on a long lease
local media /
ləυk(ə)l midiə/ plural long-range /
lɒŋ rend/ adjective
noun newspapers and radio and TV sta- for a long period of time in the future 왍
tions in a small area of the country long-range economic forecast a fore-
local newspaper /
ləυk(ə)l cast which covers a period of several
njuzpepə/ noun a newspaper which years
long-standing 159 low-pressure

long-standing /
lɒŋ stndŋ/ ad- vice, high prices, etc. 왍 loss of an order
jective which has been arranged for a not getting an order which was expected
long time 쑗 a long-standing agreement 왍 the company suffered a loss of mar-
왍 long-standing customer or customer ket penetration the company found it
of long standing a person who has been had a smaller share of the market 2. the
a customer for many years state of having less money than before
long-term /
lɒŋ t&m/ adjective 왍 on or not making a profit 왍 the company
a long-term basis for a long period of suffered a loss the company did not
time 왍 long-term debts debts which make a profit 왍 to report a loss not to
will be repaid many years later 왍 show a profit in the accounts at the end
long-term forecast a forecast for a pe- of the year 쑗 The company reported a
riod of over three years 왍 long-term loss of £1m on the first year’s trading. 왍
loan a loan to be repaid many years later the car was written off as a dead
왍 long-term objectives aims which will loss/a total loss the car was so badly
take years to achieve damaged that the insurers said it had no
‘…land held under long-term leases is not
value 왍 at a loss making a loss, not
amortized’ [Hongkong Standard] making any profit 쑗 The company is
‘…the company began to experience a demand
trading at a loss. 쑗 We sold the shop at
for longer-term mortgages when the flow of a loss. 왍 to cut your losses to stop do-
money used to finance these loans diminished’ ing something which is losing money 3.
[Globe and Mail (Toronto)] the state of being worth less or having a
look and feel /
lυk ən fil/ noun the lower value 쑗 Shares showed losses of
appeal of the design, layout and ease of up to 5% on the Stock Exchange. 4. the
use of a website to potential customers state of weighing less 왍 loss in weight
and the way the site fits the image the goods which weigh less than when they
company is trying to put across were packed 왍 loss in transport the
amount of weight which is lost while
loose /lus/ adjective not attached goods are being transported
loose insert /lus ns&t/ noun a ‘…against losses of FFr 7.7m two years ago, the
sheet of advertising material slipped company made a net profit of FFr 300,000 last
between the pages of a publication year’ [Financial Times]
lorry-load /lɒri ləυd/ noun the low-grade /ləυ "red/ adjective 1.
amount of goods carried on a lorry or in not very important 쑗 a low-grade offi-
a container 쑗 They delivered six cial from the Ministry of Commerce 2.
lorry-loads of coal. not of very good quality 쑗 The car runs
lose /luz/ verb not to have something best on low-grade petrol.
any more 왍 to lose an order not to get low-hanging fruit /
ləυ hŋŋ
an order which you were hoping to get frut/ noun an easy short-term sales or
쑗 During the strike, the company lost market opportunity which provides a
six orders to American competitors. 왍 to quick profit without too much effort (in-
lose customers to have fewer customers formal )
.
쑗 Their service is so slow that they have
been losing customers. 왍 the company low-involvement hierarchy /
ləυ
is losing sales or is losing market nvɒlvmənt
harɑki/ noun a hierar-
share the company has fewer sales or a chy of response to advertising where the
smaller share of the market than before customer is relatively indifferent to the
product or service and only responds to
lose out /
luz aυt/ verb to suffer as a repeated marketing
result of something 쑗 The company has
lost out in the rush to make cheap com- low-involvement product /
ləυ n-
puters. 쑗 We lost out to a Japanese vɒlvmənt
prɒd kt/ noun a
company who put in a lower tender for low-priced product for everyday use
the job. that is bought by consumers without
loss /lɒs/ noun 1. not having some- giving much thought to brands
thing any more 왍 loss of customers not low-pressure /
ləυ preʃə/ adjective
keeping customers because of bad ser- 왍 low-pressure sales sales where the
low-quality 160 luxury product

salesperson does not force someone to lull /l l/ noun a quiet period 쑗 After
buy, but only encourages them to do so last week’s hectic trading this week’s
low-quality /
ləυ kwɒlti/ adjective lull was welcome.
not of good quality 쑗 They tried to sell lump sum /l mp s m/ noun money
us some low-quality steel. paid in one single amount, not in several
low season /ləυ siz(ə)n/ noun a pe- small sums 쑗 When he retired he was
riod when there are few travellers 쑗 Air given a lump-sum bonus. 쑗 She sold her
fares are cheaper in the low season. house and invested the money as a lump
loyal /lɔəl/ adjective always buying sum.
the same brand or using the same shop luxury /l kʃəri/ noun, adjective re-
쑗 The aim of the advertising is to keep ferring to an expensive thing which is
the customers loyal. (NOTE: you are not necessary but which is good to have
loyal to someone or something) 쑗 Luxury items are taxed very heavily.
loyalty card /lɔəlti kɑd/ noun a luxury goods /l kʃəri "υdz/ plural
special plastic card which gives custom- noun expensive items which are not ba-
ers discounts over a period of time to sic necessities
encourage them to remain as customers luxury product /l kʃəri
prɒd kt/
loyalty scheme /lɔəlti skim/ noun noun a product which people buy more
a scheme to keep the business of exist- of as their incomes rise 쑗 The company
ing customers, e.g. by special discounts has gone upmarket and is now selling
for loyalty card holders luxury products.
Ma and Pa shop 161 mail

Ma and Pa shop /
mɑ ən pɑ ʃɒp/ special colour supplement published

noun a small family-run business with a newspaper 왍 magazine insert an
macro- /mkrəυ/ prefix very large, advertising sheet put into a magazine
covering a wide area when it is mailed or sold 왍 to insert a
macroeconomics /
mkrəυikə- leaflet in a specialist magazine to put
nɒmks/ noun a study of the eco- an advertising leaflet into a magazine
nomics of a whole area, a whole in- before it is mailed or sold
dustry, a whole group of the magazine mailing /m"əzin
population or a whole country, in order
melŋ/ noun the sending of copies of a
to help in economic planning. Compare magazine by post to subscribers
microeconomics (NOTE: macroeco-
nomics takes a singular verb) 왍 mac- magazine network /m"əzin
roeconomic conditions factors that
netw&k/ noun a group of magazines
influence the state of the overall econ- owned by one publisher and offering ad-
omy, e.g. changes in gross national vertisers the possibility of buying space
product, interest rates, inflation, reces- in several publications as a packaged
sion, and employment levels deal
macroenvironment /mkrəυ n- mail /mel/ noun 1. a system of send-

varənmənt/ noun 1. the general ing letters and parcels from one place to
environmental factors that affect an another 쑗 The cheque was lost in the
organisation, such as legislation or mail. 쑗 The invoice was put in the mail
the country’s economy 쑗 We must yesterday. 쑗 Mail to some of the islands
develop a flexible planning system to in the Pacific can take six weeks. 왍 by
allow for major changes in the mail using the postal services, not send-
macroenvironment. 2. factors outside
ing something by hand or by messenger
the area of marketing which cannot be
influenced by the marketing effort, in- 왍 to send a package by surface mail to
cluding demographics, the natural envi- send a package by land or sea, not by air
ronment, etc. 왍 by sea mail sent by post abroad, using
a ship 왍 by air mail sent by post abroad,
macromarketing /mkrəυ
using a plane 왍 we sent the order by

mɑktŋ/ noun the study of trading ac-
tivity within a whole economic system first-class mail we sent the order by the
such as a country, with its political, eco- most expensive mail service, designed
nomic and social implications to be faster 2. letters sent or received 쑗
Has the mail arrived yet? 쑗 The first
made-to-measure /
med tə meə/
adjective made to fit the requirements of
thing I do is open the mail. 쑗 The re-
the customer 쑗 made-to-measure ceipt was in this morning’s mail. 3.
kitchen cabinets 쑗 a made-to-measure same as email 쐽 verb 1. to send some-
suit thing by post 쑗 to mail a letter 쑗 We
mailed our order last Wednesday. 쑗
magazine /m"əzin/ noun 1. a pa-
per, usually with pictures and printed on They mailed their catalogue to three
glossy paper, which comes out regu- thousand customers in Europe. 2. same
larly, every month or every week 2. a as email
mail drop 162 make-to-order

mail drop /mel drɒp/ noun the mail- mail out /
mel aυt/ verb to send pro-
ing of promotional material to a large motional material by mail
number of addresses mailout /mel aυt/ noun a piece of
mailer /melə/ noun packaging made promotional material sent by direct
of folded cardboard, used to mail items mail, usually accompanied by a letter
which need protection 쑗 a diskette which may be personalised
mailer mailsort /melsɔt/ noun computer
mailing /melŋ/ noun the sending of software used by mailing companies to
something by post 쑗 the mailing of pub- sort mailings before they are sent to the
licity material 왍 to buy a mailing list to post office, usually by using special la-
pay a society or other organisation bels with barcodes
money to buy the list of members so that Main Street /men strit/ noun US
you can use it to mail publicity material the most important street in a town,
mailing house /melŋ haυs/ noun where the shops and banks are
a company which specialises in carrying majority /mədɒrti/ noun more than
out mailings for other companies half of a group
mailing list /melŋ lst/ noun a list major selling idea /
medə selŋ
of names and addresses of people who a
diə/ adjective the central theme in an
might be interested in a product, list of advertising campaign
names and addresses of members of a
society 쑗 to build up a mailing list 쑗 make /mek/ noun a brand or type of
Your name is on our mailing list. product manufactured 쑗 Japanese
makes of cars 쑗 a standard make of
mailing tube /melŋ tjub/ noun a equipment 쑗 What make is the new com-
stiff cardboard or plastic tube, used for puter system or What’s the make of the
mailing large pieces of paper such as new computer system? 쐽 verb 1. to pro-
posters duce or to manufacture 쑗 The workmen
mail interview /mel
ntəvju/, spent ten weeks making the table. 쑗 The
mail survey /mel
s&ve/ noun US factory makes three hundred cars a day.
the sending of a questionnaire to respon- 2. 왍 to make a profit to have more
dents by post for a survey 쑗 Not enough money after a deal
consumers responded to the mail inter- makegood /mek"υd/ noun an ad-
view. 쑗 To encourage people to cooper- vertisement placed again in a magazine
ate in the mail survey we’ll include a or newspaper free of charge, because a
free sample with the questionnaire. mistake was made in it when it was pre-
mail merge /mel m&d/ noun a viously published
word-processing program that allows a make out /mek aυt/ verb to write 쑗
standard form letter to be printed out to to make out an invoice 쑗 The bill is
a series of different names and made out to Smith & Co. 왍 to make out
addresses a cheque to someone to write some-
mail order /
mel ɔdə/ noun a sys- one’s name on a cheque
tem of buying and selling from a cata- maker /mekə/ noun in the VALS
logue, placing orders and sending goods lifestyle classification, a practical, inde-
by mail 쑗 We bought our kitchen units pendent person who is interested in
by mail order. products that are good value but not
mail-order catalogue /mel ɔdə necessarily fashionable

kt(ə)lɒ"/ noun a catalogue from make-to-order /
mek tυ ɔdə/
which a customer can order items to be noun the making of goods or compo-
sent by mail nents to fulfil an existing order (NOTE:
mail-order selling /mel ɔdə Make-to-order products are made to

selŋ/ noun selling by taking orders the customer’s specification, and are
and supplying a product by post often processed in small batches.)
manage 163 managerial

manage /mnd/ verb 1. to direct ployees, usually senior managers and di-
or to be in charge of 쑗 to manage a de- rectors. Abbr MBO
partment 쑗 to manage a branch office 2. management by exception
왍 to manage property to look after /
mndmənt ba ksepʃən/ noun a
rented property for the owner management system whereby deviations
‘…the research director will manage and direct from plans are located and corrected
a team of graduate business analysts reporting
on consumer behaviour throughout the UK’ management by objectives
[Times] /
mndmənt ba əbdektvz/ noun
manageable /mndəb(ə)l/ adjec- a way of managing a business by plan-
tive which can be dealt with easily 쑗
ning work for the managers to do and
The problems which the company faces testing if it is completed correctly and
are too large to be manageable by one on time
person. management consultant
/mndmənt kən
s ltənt/ noun a
managed economy /
mndd person who gives advice on how to
kɒnəmi/ noun an economy that is manage a business
controlled by a government
management course
management /mndmənt/ noun /mndmənt kɔs/ noun a training
1. directing or running a business 쑗 She course for managers
studied management at university. 쑗
Good management or efficient manage- management development
ment is essential in a large organisa- /mndmənt d
veləpmənt/ noun
tion. 쑗 Bad management or inefficient the selection and training of potential
management can ruin a business. 쑗 a managers
management graduate or a graduate in management team /mndmənt
management 2. a group of managers or tim/ noun a group of all the managers
directors 쑗 The management has de- working in the same company
cided to give everyone a pay increase. management technique
‘…the management says that the rate of /mndmənt tek
niks/ noun a way
loss-making has come down and it expects of managing a business
further improvement in the next few years’
[Financial Times] manager /mndə/ noun 1. the
head of a department in a company 쑗
management accountant She’s a department manager in an engi-
/mndmənt ə
kaυntənt/ noun an neering company. 쑗 Go and see the hu-
accountant who prepares financial infor- man resources manager if you have a
mation for managers so that they can problem. 쑗 The production manager
take decisions has been with the company for only two
management accounting weeks. 쑗 Our sales manager started as
/mndmənt ə
kaυntŋ/ noun the a rep in London. 2. the person in charge
preparation and use of financial infor- of a branch or shop 쑗 Mr Smith is the
mation to support management manager of our local Lloyds Bank. 쑗
decisions The manager of our Lagos branch is in
management accounts London for a series of meetings.
‘…the No. 1 managerial productivity problem in
/mndmənt ə
kaυnts/ plural noun America is managers who are out of touch with
financial information prepared for a their people and out of touch with their
manager so that decisions can be made, customers’ [Fortune]
including monthly or quarterly financial managerial /
mnədəriəl/ adjec-
statements, often in great detail, with tive referring to managers 쑗 All the
analysis of actual performance against managerial staff are sent for training
the budget every year. 왍 to be appointed to a
management buyout managerial position to be appointed a
/
mndmənt baaυt/ noun the take- manager 왍 decisions taken at manage-
over of a company by a group of em- rial level decisions taken by managers
managership 164 margin

managership /mndəʃp/ noun manufactured goods /
mnju-

the job of being a manager 쑗 After six fktʃəd "υdz/ plural noun items
years, she was offered the managership which are made by machine
of a branch in Scotland. manufacturer /
mnjυfktʃərə/
managing director /
mnədŋ noun a person or company that produces
darektə/ noun the director who is in machine-made products 쑗 a big Indian
charge of a whole company. Abbr MD cotton manufacturer 쑗 Foreign manu-
facturers have set up factories here.
mandatory /mndət(ə)ri/ adjective
required by law or stipulated in a manufacturer’s agent /mnjυ-
contract
fktʃərəz edənt/ noun a person
‘…the wage talks are focusing on employment who sells on behalf of a manufacturer
issues such as sharing of work among and earns a commission
employees and extension of employment manufacturer’s brand /mnjυ-
beyond the mandatory retirement age of 60
years’ [Nikkei Weekly]

fktʃərəz brnd/ noun a brand
which belongs to the manufacturer and
mandatory blurb /
mndət(ə)ri has the same name
bl&b/, mandatory copy manufacturer’s recommended
/
mndət(ə)ri kɒpi/ noun certain price /mnjυ
fktʃərəz
words which are required by law to be
rekəmendd pras/ noun a price at
included in an advertisement, e.g. a which the manufacturer suggests the
health warning on cigarette product should be sold on the retail mar-
advertisements ket, which is often reduced by the re-
manifest /mnfest/ noun a list of tailer 쑗 ‘All china – 20% off the
goods in a shipment manufacturer’s recommended price’
Abbr MRP
mannequin /mnkn/ noun a
model of a person, used to display manufacturing /
mnjυfktʃərŋ/
clothes in a shop window or inside a noun the production of machine-made
store products for sale 쑗 We must try to re-
duce the manufacturing overheads. 쑗
manpower /mnpaυə/ noun the Manufacturing processes are continu-
number of employees in an organisa- ally being updated.
tion, industry or country
manufacturing capacity /
mnjυ-
manpower forecasting fktʃərŋ kə
psti/ noun the amount
/mnpaυə
fɔkɑstŋ/ noun calculat- of a product which a factory is capable
ing how many employees will be of making
needed in the future, and how many will manufacturing industries
actually be available /
mnjυfktʃərŋ
ndəstriz/ plural
manpower planning /mnpaυə noun industries which take raw materi-

plnŋ/ noun the process of planning als and make them into finished
to obtain the right number of employees products
in each job map /mp/ noun a chart which shows
manpower requirements a geographical area
/mnpaυə r
kwaəmənts/, man- mapping /mpŋ/ noun the drawing
power needs /mnpaυə nidz/ plural up of a map of an area
noun the number of employees needed margin /mɑdn/ noun 1. the differ-
manufacture /mnjυfktʃə/ verb ence between the money received when
to make a product for sale, using ma- selling a product and the money paid for
chines 쑗 manufactured goods 쑗 The it 왍 we are cutting our margins very
company manufactures spare parts for fine we are reducing our margins to the
cars. 쐽 noun the making of a product smallest possible in order to be competi-
for sale, using machines 왍 products of tive 왍 our margins have been
foreign manufacture products made in squeezed profits have been reduced be-
foreign countries cause our margins have to be smaller to
marginal 165 market

stay competitive 2. extra space or time marine insurance /mə
rin n-

allowed ʃυərəns/ noun the insurance of ships
‘…profit margins in the industries most exposed and their cargoes
to foreign competition – machinery,
transportation equipment and electrical goods – marine underwriter /mə
rin
are significantly worse than usual’  ndəratə/ noun a person or company
[Australian Financial Review] that insures ships and their cargoes
marginal /mɑdn(ə)l/ adjective 1. maritime /(adjective), mrtam/
hardly worth the money paid 2. not very adjective referring to the sea
profitable 쑗 a marginal return on in- maritime lawyer /
mrtam lɔjə/
vestment 3. hardly worth the money noun a lawyer who specialises in legal
paid matters concerning ships and cargoes
‘…pensioner groups claim that pensioners have
the highest marginal rates of tax. Income earned maritime trade /
mrtam tred/
by pensioners above $30 a week is taxed at 62.5 noun the transporting of commercial
per cent, more than the highest marginal rate’ goods by sea
[Australian Financial Review]
mark /mɑk/ noun 1. a sign put on an
marginal cost /
mɑdn(ə)l kɒst/ item to show something 2. money for-
noun the cost of making a single extra merly used in Germany 쑗 The price was
unit above the number already planned twenty-five marks. 쑗 The mark rose
marginal cost pricing against the dollar. (NOTE: usually writ-
/
mɑdn(ə)l kɒst
prasŋ/ noun a ten DM after a figure: 25DM. Also
pricing method that involves fixing a called Deutschmark, D-Mark) 쐽 verb
price per unit that covers marginal costs to put a sign on something 쑗 to mark a
and makes an acceptable contribution to product ‘for export only’ 쑗 an article
fixed costs marked at £1.50 쑗 She used a black pen
marginal land /mɑdn(ə)l lnd/ to mark the price on the book.
noun land which is almost not worth mark down /
mɑk daυn/ verb to
farming make the price of something lower
marginal pricing /
mɑdn(ə)l mark-down /mɑkdaυn/ noun 1. a
prasŋ/ noun the practice of basing the reduction of the price of something to
selling price of a product on its variable less than its usual price 2. the percent-
costs of production plus a margin, but age amount by which a price has been
excluding fixed costs lowered 쑗 There has been a 30%
marginal productivity mark-down on all goods in the sale.
/
mɑdn(ə)l prɒd ktvti/ noun ex- marked price /mɑkt pras/ noun
tra productivity achieved by the use of the price which is marked on or attached
one more factor of production to an article for sale
marginal purchase /
mɑdn(ə)l market /mɑkt/ noun 1. a place, of-
p&tʃs/ noun something which a buyer ten in the open air where farm produce
feels is only just worth buying and household goods are sold 쑗 The fish
marginal revenue /
mɑdn(ə)l market is held every Thursday. 쑗 The
revenju/ noun the income from sell- open-air market is held in the central
ing a single extra unit above the number square. 쑗 Here are this week’s market
already sold prices for sheep. 2. an area where a
marginal utility /
mɑdn(ə)l ju- product might be sold or the group of
tlti/ noun satisfaction gained from us- people who might buy a product 3. the
ing one more unit of a product possible sales of a specific product or
demand for a specific product 쑗 The
margin of error /
mɑdn əv erə/ market for home computers has fallen
noun the number of mistakes which can sharply. 쑗 We have 20% of the British
be accepted in a document or in a car market. 쑗 There’s no market for
calculation electric typewriters. 4. 왍 to pay black
marine /mərin/ adjective referring to market prices to pay high prices to get
the sea items which are not easily available 쐽
marketable 166 market forces

verb to sell a product 쑗 This product is market-driven /mɑkt
drv(ə)n/

being marketed in all European adjective which is driven by market
countries. forces
‘…market analysts described the falls in the market dues /mɑkt djuz/ plural
second half of last week as a technical
correction to a market which had been pushed noun the rent to be paid for a stall in a
by demand to over the 900 index level’ market
[Australian Financial Review]
market economist /
mɑkt
marketable /mɑktəb(ə)l/ adjective kɒnəmst/ noun a person who
which can be sold easily specialises in the study of financial
market analysis /
mɑkt structures and the return on investments
ənləss/ noun the detailed examina- in the stock market
tion and report of a market market economy /
mɑkt
market area /mɑkt
eəriə/ noun a kɒnəmi/ noun an economy in which
geographical area which represents a there is a free market in goods and
particular market, e.g. a TV viewing services
area or a representative’s territory marketeer /
mɑktə/ noun same as
market build-up method /
mɑkt marketer
bld p
meθəd/ noun a method of as- marketer /mɑktə/ noun a person or
sessing the sales potential of a product company that carries out marketing ac-
by adding up the number of potential tivities 쑗 The company has been in
buyers in each market segment manufacturing for ten years, and is now
market challenger strategy becoming a marketer of its own prod-
/
mɑkt tʃlndə
strtədi/ noun ucts as well. 쑗 Most direct marketers
a strategy adopted by a company which support the Post Office, which is almost
is challenging the market leaders the sole channel for their services.
through pricing, promotion or product marketface /mɑktfes/ noun the
design 쑗 It’s a new aggressive company point of contact between suppliers and
adopting a market challenger strategy. their customers
market coverage /
mɑkt market-facing enterprise /mɑkt
k v(ə)rd/ noun a market share or fesŋ
entəpraz/ noun an organisa-
measurement of what proportion of the tion that is sensitive to the needs of its
sales of an article is accounted for by a markets and customers and arranges its
particular brand 쑗 The marketing direc- activities with them in mind
tor’s brief was to increase market cov- market factor analysis /
mɑkt
erage by at least ten per cent.
fktə ənləss/ noun a forecasting
market day /mɑkt de/ noun the method which concentrates on key mar-
day when a market is regularly held 쑗 ket factors that are believed to affect
Tuesday is market day, so the streets are demand
closed to traffic. market follower strategy /
mɑkt
market demand /
mɑkt dmɑnd/ fɒləυə
strtədi/ noun a strategy of a
noun the total demand for a product in company which does not directly chal-
the market 쑗 Market demand for this lenge the market leaders, but attempts to
product is falling, as fashions have benefit from their innovations and gain
changed. a profitable corner of the market 쑗
market development /
mɑkt d- Adopting a market follower strategy
veləpmənt/ noun a strategy involving greatly reduces expenditure on research
the search for and exploitation of new and development.
markets for a product 쑗 Market devel- market forces /
mɑkt fɔsz/
opment for our tractors is part of the plural noun the influences on the sales
company’s growth strategy. of a product which bring about a change
in prices
market forecast 167 marketing objectives

market forecast /
mɑkt fɔkɑst/ marketing consultancy /mɑktŋ

noun a forecast of prices on the stock kən
s ltənsi/ noun a firm which gives
market specialist advice on marketing
market fragmentation /
mɑkt marketing department /mɑktŋ

fr"mənteʃ(ə)n/ noun the splitting d
pɑtmənt/ noun the section of a
of a market into many small segments, company dealing with marketing and
which are more difficult to sell into sales
market gap /
mɑkt "p/ noun an marketing director /mɑktŋ da-
opportunity to sell a product or service
rektə/ noun a director who is responsi-
which is needed but which no one has ble for an organisation’s marketing
sold before. 쏡 gap activities
market hall /mɑkt hɔl/ noun the
building in which a market is held
marketing information system
/
mɑktŋ nfəmeʃ(ə)n
sstəm/
regularly
noun computer software which analyses
marketing /mɑktŋ/ noun the pro- marketing information and produces
cess of identifying needs and satisfying material on which marketers can make
these needs with suitable goods or ser- decisions
vices, through product design, distribu-
tion and promotion, either as a business marketing intelligence /mɑktŋ
or as a non-profit-making organisation n
teldəns/ noun information about a
‘…reporting to the marketing director, the market that can help a marketing effort
successful applicant will be responsible for the marketing management
development of a training programme for the
new sales force’ [Times] /mɑktŋ
mndmənt/ noun the or-
ganising of a company’s marketing
marketing agreement /mɑktŋ
ə
"rimənt/ noun a contract by which marketing manager /mɑktŋ
one company will market another com-
mndə/ noun a person in charge of a
pany’s products marketing department 쑗 The marketing
marketing audit /mɑktŋ
ɔdt/ manager has decided to start a new ad-
noun an examination of the effective- vertising campaign.
ness of a company’s marketing plans marketing mix /mɑktŋ mks/
marketing board /mɑktŋ bɔd/ noun the combination of all the ele-
noun an organisation set up by the gov- ments that make up marketing such as
ernment or by a group of producers to price, distribution and advertising 쑗
help producers to market a certain type Personal selling is a vital part of the
of product company’s marketing mix. Compare the
four P’s
marketing budget /mɑktŋ

b dt/ noun money set aside by an or- marketing model /mɑktŋ
ganisation for its marketing activities
mɒd(ə)l/ noun an overview of the en-
marketing channels /mɑktŋ tire marketing process which can be

tʃn(ə)lz/ plural noun the means of shown graphically, often using a com-
communicating a message involved in puter, and used to solve problems
the process of marketing marketing myopia /
mɑktŋ ma-
marketing communications əυpiə/ noun a problem which occurs
/
mɑktŋ kəmjunkeʃ(ə)nz/ plural when a business is ‘short-sighted’ and
noun all methods of communicating only views the world from its own per-
used in marketing, e.g. television, radio spective, and fails to see the point of
and sales literature view of the customer
marketing concept /mɑktŋ marketing objectives /mɑktŋ

kɒnsept/ noun a business idea or phi- əb
dektvz/ plural noun aims set
losophy based on the importance of for an organisation’s marketing
profit, consumer satisfaction and the programme, including sales, market
welfare of the general public share, and profitability
marketing plan 168 market potential

marketing plan /mɑktŋ pln/ marketmaker /mɑktmekə/ noun

noun a plan, usually annual, for a com- a person who buys or sells shares on the
pany’s marketing activities, specifying stock market and offers to do so in a cer-
expenditure and expected revenue and tain list of securities (a marketmaker op-
profits 쑗 Has this year’s marketing plan erates a book, listing the securities he or
been drawn up yet? 쑗 The marketing she is willing to buy or sell, and makes
plan is flexible enough to allow for an his or her money by charging a commis-
increase in advertising costs. sion on each transaction)
marketing planning /mɑktŋ market map /mɑkt mp/ noun a

plnŋ/ noun making a plan for a com- graph showing the structure of a market
pany’s marketing activities, specifying in terms of the number and type of con-
expenditure and expected revenue and sumers and the activity of competitors 쑗
profits One look at the market map shows we
marketing policy /mɑktŋ are aiming at the wrong target market.

pɒlsi/ noun the basic attitudes under- market niche /mɑkt niʃ/ noun a
lying a company’s marketing activities particular segment or specialised area of
marketing research /
mɑktŋ r- a market 쑗 In producing this unusual
s&tʃ/ noun all research carried out in product, the company has found itself a
the interests of successful marketing, in- market niche.
cluding market research, media research market opening /mɑkt
and product research
əυp(ə)nŋ/ noun the possibility of
marketing services /mɑktŋ starting to do business in a new market

s&vsz/ plural noun marketing func- market opportunity /
mɑkt ɒpə-
tions other than selling, e.g. market re- tjunti/ noun the possibility of going
search and advertising 쑗 Our sales drive into a market for the first time
is supported by well-developed and ef- market penetration /
mɑkt
fective marketing services.
pentreʃ(ə)n/ noun the percentage of
marketing strategy /mɑktŋ a total market which the sales of a com-

strtədi/ noun a strategy or plan for pany cover
marketing activities 쑗 What marketing market penetration pricing
strategy should be adopted to reach /
mɑkt pentreʃ(ə)n
prasŋ/ noun
these long-term objectives? 쑗 The mar- pricing a product low enough to achieve
keting strategy was one of expansion market penetration
through diversification and market
development. marketplace /mɑktples/ noun 1.
the open space in the middle of a town
market intelligence /mɑkt n- where a market is held 쑗 You can park

teldəns/ noun information about a in the marketplace when there is no
market that can help a marketing effort market. 2. the situation and environment
market leader /
mɑkt lidə/ noun in which goods are sold 쑗 Our salespeo-
the company with the largest market ple find life difficult in the marketplace.
share 쑗 We are the market leader in 쑗 What’s the reaction to the new car in
home computers. the marketplace? 쑗 What’s the market-
‘…market leaders may benefit from scale place reaction to the new car?
economies or other cost advantages; they may ‘…most discounted fares are sold by bucket
enjoy a reputation for quality simply by being at shops but in today’s competitive marketplace
the top, or they may actually produce a superior any agent can supply them’ [Business Traveller]
product that gives them both a large market
share and high profits’ [Accountancy] market position /
mɑkt pə-
market leader strategy /
mɑkt zʃ(ə)n/ noun the place a company
lidə
strtədi/ noun a strategy of a holds in a market
company which is a market leader and market potential /
mɑkt pə-
wants to maintain a dominant market tenʃəl/ noun the sales of a product that
share or to keep its reputation as an should be achieved with the right kind
innovator of marketing effort 쑗 The product is
market power 169 mass

promising but has not yet achieved its full market is organised, including the con-
market potential. centration of suppliers or consumers, the
market power /mɑkt
paυə/ noun ease of entry or barriers to entry, and the
the power of a business within a market, competitiveness of players in the market
usually based on the firm’s market market survey /
mɑkt s&ve/
position noun a survey or general report on mar-
market price /mɑkt pras/ noun ket conditions 쑗 The market survey sug-
the price at which a product can be sold gests that there is no longer much
market profile /
mɑkt prəυfal/ demand for this type of product.
noun the basic characteristics of a par- market targeting /
mɑkt
ticular market tɑ"tŋ/ noun planning how to sell a
market rate /mɑkt ret/ noun the product or service into a particular
normal price in the market 쑗 We pay the market
market rate for secretaries or We pay market test /
mɑkt test/ noun an
secretaries the market rate examination to see if a sample of a prod-
‘…after the prime rate cut yesterday, there was a uct will sell in a market
further fall in short-term market rates’
[Financial Times] market trends /
mɑkt trendz/
plural noun gradual changes taking
market research /
mɑkt rs&tʃ/
noun the process of examining the pos-
place in a market
sible sales of a product and the possible market value /
mɑkt vlju/ noun
customers for it before it is put on the value of an asset, a share, a product or a
market company if sold today
market sector /
mɑkt sektə/ noun mark up /
mɑk  p/ verb to increase
a particular section of a market, espe- the price of something
cially an area into which a firm sells mark-up /mɑk p/ noun 1. an in-
market segment /
mɑkt crease in price 쑗 We put into effect a
se"mənt/ noun a group of consumers 10% mark-up of all prices in June. 쑗
in a market who are definable by their Since I was last in the store they have
particular needs put at least a 10% mark-up on the whole
market segmentation /
mɑkt range of items. 2. the difference be-
se"menteʃ(ə)n/ noun the division of tween the cost of a product or service
the market or consumers into categories and its selling price (NOTE: Mark-up is
according to their buying habits 쑗 Our often calculated as a percentage of the
strategy is based on satisfying the de- production and overhead costs, and
mands of many different types of buyer represents the profit made on the prod-
and therefore requires thorough market uct or service.) 왍 we work to a 3.5
segmentation. times mark-up or to a 350% mark-up
we take the unit cost and multiply by 3.5
market share /
mɑkt ʃeə/ noun to give the selling price
the percentage of a total market which
the sales of a company’s product cover mark-up percentage /mɑk p pə-
쑗 We hope our new product range will
sentd/ noun the mark-up expressed
increase our market share. as a percentage either of the cost price
market specialist /
mɑkt or of the selling price 쑗 What’s the
speʃəlst/ noun a person who concen- mark-up percentage on these items?
trates on a few markets, and has an ex- marque /mɑk/ noun a famous brand
pertise in the media industry in these name for a car, e.g. Jaguar, MG, or
markets Ferrari
market stall /mɑkt stɔl/ noun a mart /mɑt/ noun a place where things
light wooden stand where a trader sells are sold
goods in a market mass /ms/ noun 1. a large group of
market structure /
mɑkt people 2. a large number 쑗 We have a
str ktʃə/ noun the way in which a mass of letters or masses of letters to
mass customisation 170 maximisation

write. 쑗 They received a mass of orders box and a set of links to important areas
or masses of orders after the TV of the website
commercials.
matched sample /
mtʃd
mass customisation /
ms sɑmpəl/ noun the use of two samples
k stəmazeʃ(ə)n/ noun a process that of people with the same characteristics
allows a standard, mass-produced item, to compare reactions to different prod-
e.g., a bicycle, to be altered to fit the ucts in tests
specific requirements of individual material /mətəriəl/ noun a sub-
customers stance which can be used to make a fin-
mass market /ms mɑkt/ noun ished product 왍 materials control a
the whole market, consisting of a very system to check that a company has
large number of customers enough materials in stock to do its work
mass marketing /ms mɑktŋ/ 왍 materials handling the moving of
noun marketing which aims at reaching materials from one part of a factory to
large numbers of people another in an efficient way
‘…in the good old days of mass marketing, the matrix /metrks/ noun an arrange-
things marketers did to attract new customers ment of data in horizontal and vertical
tended to be the same as the things they did to
keep existing customers – competitive prices, columns (NOTE: plural is matrices)
high quality and good service’ matrix management /metrks
[Marketing Week]

mndmənt/ noun management that
mass media /ms midiə/ noun the operates both through the hierarchical
means of communication by which chain of command within the organisa-
large numbers of people are reached, tion, and through relationships at the
e.g. radio, television or newspapers same level with other managers working
mass-produce /
ms prədjus/ in other locations or on different prod-
verb to manufacture identical products ucts or projects
in large quantities 쑗 to mass-produce mature /mətʃυə/ adjective 왍 mature
cars economy a fully developed economy 쐽
master /mɑstə/ adjective main or verb to become due 왍 bills which ma-
original 왍 master budget a budget pre- ture in three weeks’ time bills which
pared by amalgamating budgets from will be due for payment in three weeks
various profit and cost centres such as mature market /mə
tʃυə mɑkt/
sales, production, marketing or adminis- noun a well-established market, with lit-
tration in order to provide a main budget tle potential for increased sales
for the whole company 왍 the master
copy of a file the main copy of a com- maturity /mətʃυərti/ noun the third
puter file, kept for security purposes stage in a product life cycle when a
product is well established in the market
master franchise /mɑstə though no longer enjoying increasing

frntʃaz/ noun a franchise given to a sales, after which sooner or later it will
single entrepreneur who then sells sub- start to decline
sidiary franchises to others
maximal awareness /
mksməl
Master of Business Administra- əweənəs/ noun the point at which a
tion (MBA) noun full form of MBA consumer is convinced enough by a
master sample /mɑstə
sɑmpəl/ product’s advertising to buy the product
noun a collection of basic sampling 쑗 The marketing director considered
units (such as parliamentary constituen- the advertisement’s message too weak
cies) compiled by research organisations to achieve maximal awareness.
to help a company’s market research maximisation /
mksma-
masthead /mɑsthed/ noun the area zeʃ(ə)n/, maximization noun the pro-
at the top of a webpage, which usually cess of making something as large as
contains the logo of the organisation possible 쑗 profit maximisation or
that owns the page, and often a search maximiatison of profit
maximise 171 media event

maximise /mksmaz/, maximize Such a level of investment is beyond the

verb to make as large as possible 쑗 Our means of a small private company.
aim is to maximie sprofits. 쑗 The coop- means test /minz test/ noun an in-
eration of the workforce will be needed quiry into how much money someone
if we are to maximise production. 쑗 He earns to see if they are eligible for state
is paid on results, and so has to work benefits
flat out to maximise his earnings.
mechanical /mknk(ə)l/ adjective
maximum /mksməm/ noun the worked by a machine 쑗 a mechanical
largest possible number, price or quan- pump
tity 쑗 It is the maximum the insurance mechanical data /m
knk(ə)l
company will pay. 왍 up to a maximum detə/ noun information regarding the
of £10 no more than £10 왍 to increase printing of newspapers or magazines,
exports to the maximum to increase e.g. format or column width
exports as much as possible 쐽 adjective
largest possible 쑗 40% is the maximum media /midiə/ noun the means of
income tax rate or the maximum rate of communicating a message about a prod-
tax. 쑗 The maximum load for the truck uct or service to the public (NOTE: me-
is one ton. 쑗 Maximum production lev- dia is followed by a singular or plural
els were reached last week. 왍 to in- verb)
‘…both advertisers and agencies agree that the
crease production to the maximum media owners do their bit to keep advertisers
level to increase it as much as possible well informed’ [Marketing Workshop]
maximum price /
mksməm ‘…media costs represent a major expense for
pras/ noun the highest legal price for a advertisers’ [Marketing]
product 쑗 The government insists on media broker /midiə
brəυkə/
such a low maximum price that we’ll noun a business which offers organisa-
never break even. 쑗 Demand for the tions a media-buying service and possi-
product is so low that no company is bly additional services such as media
charging the maximum price. planning
MBA /
em bi e/ noun a degree media buyer /midiə
baə/ noun a
awarded to graduates who have com- person in an advertising agency who
pleted a further course in business stud- places advertisements in the media on
ies. Full form Master of Business behalf of clients
Administration media buying /midiə
baŋ/ noun
m-commerce /em
kɒm&s/ noun the placing of advertisements in the me-
marketing functions other than selling, dia on behalf of an organisation 쑗 Effi-
e.g. market research and advertising cient media buying is impossible
without a good knowledge of compara-
mean /min/ adjective average 쑗 The tive media costs.
mean annual increase in sales is 3.20%.
쐽 noun the average or number calcu-
media class /midiə klɑs/ noun a
lated by adding several quantities to- basic type of medium, e.g. TV, radio or
gether and dividing by the number of the press
quantities added 쑗 Unit sales are over media coverage /midiə
the mean for the first quarter or above
k v(ə)rd/ noun reports about some-
the first-quarter mean. thing in the media 쑗 We got good media
coverage for the launch of the new
means /minz/ noun a way of doing model.
something 쑗 Air freight is the fastest
means of getting stock to South Amer- media data form /
midiə detə
ica. 쑗 Do we have any means of copying fɔm/ noun a document giving basic
all these documents quickly? 쑗 Bank data or information about a publication
transfer is the easiest means of payment. such as circulation, readership and geo-
(NOTE: plural is same) 쐽 plural noun graphical distribution
money or resources 쑗 The company has media event /
midiə vent/ noun a
the means to launch the new product. 쑗 happening which is staged by or organ-
media independent 172 merchandise

ised so as to attract the attention of the media selection /midiə s
lekʃən/

mass media noun the process of choosing the right
type of media for a promotional cam-
media independent /
midiə nd- paign 쑗 The agency will give us guid-
pendənt/, media shop /midiə ʃɒp/ ance on media selection.
noun a business which offers organisa-
tions a media-buying service, but with- media service /midiə
s&vs/
out the creative services usually offered noun an organisation which provides
by advertising agencies the full range of media functions to its
clients
median /midiən/ noun the middle
number in a list of numbers media shop /midiə ʃɒp/ noun same
as media independent
media objectives /
midiə əb-
dektvz/ plural noun aims which an media strategy /midiə
strtədi/
advertiser has in advertising through the noun action plans for achieving media
media objectives
media option /midiə
ɒpʃən/ noun media vehicle /midiə
vik(ə)l/
a single unit of advertising space or time noun the specific programme or publi-
cation used to carry an advertising
media organizations /midiə message
ɔ"əna
zeʃ(ə)nz/ plural noun organi-
sations whose aim is to provide infor- medium /midiəm/ noun one particu-
mation or entertainment to their lar means of communicating informa-
subscribers, viewers, or readers while at tion to the public (NOTE: plural is
the same offering marketers a way of media)
reaching audiences with print and medium-term /midiəm t&m/ ad-
broadcast messages jective referring to a point between short
media owner /midiə
əυnə/ noun a term and long term 왍 medium-term
person or company that owns a maga- forecast a forecast for two or three
zine or newspaper or radio or TV station years
media plan /midiə pln/ noun a megastore /me"əstɔ/ noun a very
plan showing what type of media will be large store
used and how much advertising will be mercantile /m&kəntal/ adjective
done and when commercial 왍 mercantile country a
media planner /midiə
plnə/ country which earns income from trade
noun a person who deals with media 왍 mercantile law laws relating to
planning business
media planning /midiə
plnŋ/ mercantile agent /m&kəntal
noun a strategy concerned with what
edənt/ noun a person who sells on
type of media should be used and how behalf of a business or another person
much advertising should be done and and earns a commission
when 쑗 The marketing manager and mercantile marine /
m&kəntal
media buyer are having a media plan- mərin/ noun all the commercial ships
ning session. 쑗 Proper media planning of a country
avoids overexpenditure on promotion. mercantile paper /m&kəntal
media research /midiə r
s&tʃ/
pepə/ noun a negotiable document
noun the study or evaluation of a target used in commerce
audience in order to improve an organi- merchandise noun /m&tʃəndaz/
sation’s promotional activities goods which are for sale or which have
media schedule /midiə
ʃedul/ been sold 쑗 The merchandise is shipped
noun all the details of advertising to be through two ports. 쐽 verb to sell goods
used in a promotional campaign, e.g. the by a wide variety of means, such as dis-
timing and positioning of play, advertising or sending samples 쑗
advertisements to merchandise a product
merchandise 173 microenvironment

‘…fill huge warehouses with large quantities merger /m&də/ noun the joining to-
but limited assortments of top-brand,
first-quality merchandise and sell the goods at
gether of two or more companies 쑗 As a
rock-bottom prices’ [Duns Business Month] result of the merger, the company is now
the largest in the field.
merchandise2 /m&tʃəndaz/,
merchandize verb to sell goods by a message /mesd/ noun 1. a piece of
wide variety of means, such as display, news which is sent to someone 쑗 He
advertising or sending samples 쑗 to says he never received the message. 쑗
merchandise a product I’ll leave a message with her secretary.
2. an idea that is communicated by pro-
merchandising /m&tʃəndazŋ/, motion 쑗 The agency was given clear
merchandizing noun the process of or- instructions as to what message the ad-
ganising the display and promotion of vertisement should convey. 쑗 Few peo-
goods in retail outlets 쑗 the ple interviewed in the survey knew what
merchandising of a product 쑗 the the advertisement’s message was sup-
merchandising department posed to be. 쑗 The message on the
merchandiser /m&tʃəndazə/ poster was conveyed in only three
noun a person or company that words.
organises the display and promotion of
message effect /mesd 
fekt/
goods
noun the effect of an advertisement’s
merchant /m&tʃənt/ noun a busi- message on the target audience 쑗 The
nessperson who buys and sells, espe- message effect was lost because so
cially one who buys imported goods in many people didn’t understand the joke
bulk for retail sale 쑗 a coal merchant 쑗 used in the advertisement. 쑗 After the
a wine merchant campaign we’ll try to assess what the
merchantable /m&tʃəntəb(ə)l/ ad- message effect has been.
jective of good enough quality for sale metamarketing /metəmɑktŋ/
and use noun US marketing applied to all kinds
merchant account /m&tʃənt of organisations, such as hospitals,
ə
kaυnt/ noun an account opened by an churches and religions, as well as to
e-merchant at a financial institution to profit-making concerns
receive the proceeds of credit-card me-too product /mi tu
prɒd kt/
transactions noun a product which is a very similar
merchant bank /m&tʃənt bŋk/ to an existing market leader
noun a bank which arranges loans to metro area /metrəυ
eəriə/ noun the
companies, deals in international fi- central part of a large city
nance, buys and sells shares, launches
new companies on the Stock Exchange, micro- /makrəυ/ prefix very small
but does not provide normal banking microeconomics /makrəυ ikə-
services to the general public
nɒmks/ noun the study of the eco-
merchanting /m&tʃəntŋ/ noun the nomics of people or single companies.
action of buying and selling Compare macroeconomics 왍 micro-
merchantman /m&tʃəntmən/ noun economic trends trends in a country’s
a commercial ship economy, e.g. consumer income and
patterns of spending, wages, savings, or
merchant marine /
m&tʃənt mə- debt
rin/ noun all the commercial ships of a
country microenvironment /makrəυ n-

varənmənt/ noun the elements or fac-
merge /m&d/ verb to join together 쑗 tors outside a business organisation
The two companies have merged. 쑗 The which directly affect it, such as supply
firm merged with its main competitor. of raw materials, demand for its prod-
merge-purge /m&d p&d/ noun ucts and rival companies 쑗 Unreliability
combining two mailing lists and check- of suppliers is one the greatest problems
ing to remove duplicate addresses in our microenvironment.
micromarketing 174 model

micromarketing /makrəυ missionary salesperson

mɑktŋ/ prefix the study of the mar- /mʃ(ə)n(ə)ri
selzp&s(ə)n/ noun a
keting strategy of an individual business salesperson who approaches a new mar-
middleman /md(ə)l
mn/ noun a ket with a product
businessperson who buys from the man- missionary selling /mʃ(ə)n(ə)ri
ufacturer and sells to retailers or to the
selŋ/ noun the act of approaching new
public 쑗 We sell direct from the factory customers with a product 쑗 We have
to the customer and cut out the middle- never sold there before, so be prepared
man. (NOTE: plural is middlemen) for missionary selling. 쑗 Some sales
military hardware /
mlt(ə)ri reps are not aggressive enough for mis-
hɑdweə/ noun military equipment, sionary selling.
e.g. guns, rockets and tanks mission statement /mʃ(ə)n
milk /mlk/ verb to make as much
stetmənt/ noun a short statement of
profit for as long as possible from a par- the reasons for the existence of an
ticular product or service 쑗 We intend to organisation
milk the product hard for the next two mix /mks/ noun an arrangement of
years, before it becomes obsolete. different things together
mindset /mandset/ noun a way of mixed /mkst/ adjective made up of
thinking or general attitude to things different sorts or of different types of
mindshare /mandʃeə/ noun the things together
density of the interconnects found by a mixed economy /mkst kɒnəmi/
search engine, that is the number of noun a system which contains both na-
pages that have links to a website tionalised industries and private
minicontainer /mnikən
tenə/ enterprise
noun a small container mixed media /
mkst midiə/ plural
minimarket /mni
mɑkt/ noun a noun various types of media used to-
very small self-service store gether in a promotional campaign
minimum frequency /
mnməm mnemonic /nmɒnks/ noun a word,
frikwənsi/ noun the minimum num- sentence or little poem which helps you
ber of exposures for an advertisement to remember something
be effective mobile /məυbal/ adjective which
mining concession /manŋ kən- can move about

seʃ(ə)n/ noun the right to dig a mine on mock-up /mɒk p/ noun the model
a piece of land of a new product for testing or to show
miscellaneous /
msəleniəs/ ad- to possible buyers 쑗 The sales team
jective various, mixed, or not all of the were shown a mock-up of the new car.
same sort 쑗 miscellaneous items on the mode /məυd/ noun a way of doing
agenda 쑗 a box of miscellaneous pieces something 왍 mode of payment the way
of equipment 쑗 Miscellaneous expendi- in which payment is made, e.g. cash or
ture is not itemized in the accounts. cheque
misrepresentation /ms
reprzen-
teʃ(ə)n/ noun the act of making a
model /mɒd(ə)l/ noun 1. a small copy
of something made to show what it will
wrong statement in order to persuade
look like when finished 쑗 They showed
someone to enter into a contract such as
us a model of the new office building. 2.
one for buying a product or service
a style or type of product 쑗 this is the
mission /mʃ(ə)n/ noun a group of latest model 쑗 The model on display is
people going on a journey for a special last year’s. 쑗 I drive a 2001 model
purpose Range Rover. 3. a person whose job is
missionary sales /mʃ(ə)n(ə)ri to wear new clothes to show them to
selz/ plural noun a sales pitch where a possible buyers 4. description in the
salesperson emphasises support services form of mathematical data 쐽 adjective
rather than taking orders which is a perfect example to be copied
modem 175 monies

쑗 a model agreement 쐽 verb to wear money to have a wage or salary 왍 to

new clothes to show them to possible earn good money to have a large wage
buyers 쑗 She has decided on a career in or salary 왍 to lose money to make a
modelling. (NOTE: modelling – mod- loss, not to make a profit 왍 the com-
elled. The American spelling is model- pany has been losing money for
ing – modeled) months the company has been working
modem /məυdem/ noun the device at a loss for months 왍 to get your
which links a computer to a telephone money back to make enough profit to
line, allowing data to be sent from one cover your original investment 왍 to
computer to another make money to make a profit 왍 to put
money into the bank to deposit money
modification /
mɒdfkeʃ(ə)n/ into a bank account 왍 to put money
noun a change 쑗 The board wanted to into a business to invest money in a
make or to carry out modifications to business 쑗 She put all her redundancy
the plan. 쑗 The new model has had sev- money into a shop. 왍 to put money
eral important modifications. 쑗 The cli- down to pay cash, especially as a de-
ent pressed for modifications to the posit 쑗 We put £25 down and paid the
contract. rest in instalments. 왍 money up front
modified rebuy /
mɒdfad riba/ payment in advance 쑗 They are asking
noun a buying decision where either the for £10,000 up front before they will
product or the supplier has changed consider the deal. 쑗 He had to put
from the time of the previous purchase money up front before he could clinch
modify /mɒdfa/ verb to change or the deal.
to make something fit a different use 쑗 money-back guarantee /
m ni
The car will have to be modified to pass bk "rən
ti/, money-back offer
the government tests. 쑗 The refrigerator /
m ni bk
ɒfə/ noun a guarantee
was considerably modified before it that money will be paid back to custom-
went into production. ers who are not satisfied with their
modular /mɒdjυlə/ adjective made purchases
of various sections money-making /m ni
mekŋ/ ad-
mom-and-pop operation /
mɒm jective which makes money 쑗 a
ən pɒp ɒpə
reʃ(ə)n/ noun US a small money-making plan
business owned and run by a couple money-off coupon /
m ni ɒf
monadic test /mɒndk test/ noun
kupɒn/ noun a coupon in a newspaper
a product test involving only one or on a package which can be cut off
product and used to claim a discount on the next
purchase
monetary /m nt(ə)ri/ adjective re-
ferring to money or currency money order /m ni
ɔdə/ noun a
‘…a draft report on changes in the international document which can be bought for
monetary system’ [Wall Street Journal] sending money through the post
monetary policy /
m nt(ə)ri money rates /m ni rets/ rates of
pɒlsi/ noun the government’s policy interest for borrowers or lenders
relating to finance, e.g. bank interest money-spinner /m ni
spnə/ noun
rates, taxes, government expenditure an item which sells very well or which
and borrowing is very profitable 쑗 The home-delivery
‘…the decision by the government to tighten
monetary policy will push the annual inflation
service has proved to be a real
rate above the year’s previous high’ money-spinner.
[Financial Times] money supply /m ni sə
pla/ noun
monetary standard /
m nt(ə)ri the amount of money which exists in a
stndəd/ noun the fixing of a fixed ex- country
change rate for a currency monies /m niz/ plural noun sums of
money /m ni/ noun coins and notes money 쑗 monies owing to the company
used for buying and selling 왍 to earn 쑗 to collect monies due
monopolisation 176 multi-dimensional scaling

monopolisation /mə
nɒpəla- most favoured nation /məυst

zeʃ(ə)n/, monopolization noun the
fevəd neʃ(ə)n/ noun a country
process of making a monopoly which has the best trade terms
monopolise /mənɒpəlaz/, monop- motivate /məυtvet/ verb to encour-
olize verb to create a monopoly or to age someone to do something, espe-
get control of all the supply of a product cially to work or to sell 왍 highly
monopolist /mənɒpəlst/ noun a motivated sales staff sales staff who
business which is the sole seller in a are very eager to sell
market ‘…creative people aren’t necessarily motivated
by money or titles, they may not want a larger
monopolistic competition office or more work, they don’t often want more
/mənɒpə
lstk kɒmpətʃ(ə)n/ noun a responsibility. They want to see their ideas
implemented’ [Nation’s Business]
situation where there are only a few pro-
ducers who therefore control the market motivation /
məυtveʃ(ə)n/ noun
between them 쑗 With only three suppli- 1. an encouragement to staff 2. eager-
ers of cotton in the country it was a ness to work well or sell large quantities
clear case of monopolistic competition. of a product 왍 the sales staff lack moti-
monopoly /mənɒpəli/ noun a situa- vation the sales staff are not eager
tion where one person or company is the enough to sell
only supplier of a particular product or motivation research /məυt-
service 쑗 to be in a monopoly situation veʃən r
s&tʃ/, motivational re-
쑗 The company has the monopoly of im- search /məυt
veʃən(ə)l rs&tʃ/
ports of French wine. noun research designed to find out the
monopoly profit /mənɒpəli consumer’s motives for purchasing a

prɒft/ noun profit earned by a busi- product or service
ness through having a monopoly motive /məυtv/ noun something that
forces someone to take a particular
monopsonist /mənɒpsənst/ noun
action
a sole buyer of a particular product or
service move /muv/ verb to be sold, or to sell
쑗 Over Christmas the stock hardly
monopsony /mənɒpsəni/ noun a moved at all but noe it is finally starting
situation where there is only one buyer
to sell. 쑗 The sales staff will have to
for a particular product or service 쑗 Mo-
work hard if they want to move all that
nopsony gives the buyer leverage in de-
stock by the end of the month.
manding a low price.
moving averages /
muvŋ
monthly /m nθli/ noun a magazine v(ə)rdz/ plural noun a method for
which is published each month 쑗 The working out averages while allowing for
holidays were advertised in all the seasonal variations, in which the period
monthlies. (NOTE: plural is monthlies) under consideration is moved forward at
monthly sales report /
m nθli regular intervals
selz r
pɔt/ noun a report made every multi- /m lti/ prefix referring to many
month showing the number of items things
sold or the amount of money a company
has received for selling stock 쑗 In the multi-channel /
m lt tʃn(ə)l/ ad-
sales reports all the European countries jective using both online and offline
are bracketed together. 쑗 Detailed sales methods of communication to do
reports help the sales manager work out business
an effective sales strategy. multi-channel system /m lt
morphological analysis /mɔfə-
tʃn(ə)l
sstəm/ noun a distribution

lɒdik(ə)l ənləss/ noun a method system used by a producer which makes
of identifying the most profitable mar- use of more than one distribution
ket segments by exploring various di- channel
mensions such as countries and market multi-dimensional scaling /
m lt
types da
menʃ(ə)nəl skelŋ/ noun a
multilateral 177 mystery shopping

method of carrying out market research, The questionnaire had eight multiple
in which the respondents are given a choice questions, two dichotomous
scale (usually 1 to 5) on which they base questions and one open question.
their replies multiple correlation /
m ltp(ə)l
multilateral /
m ltilt(ə)rəl/ adjec- kɒrəleʃ(ə)n/ noun a method for mea-
tive between several parties 쑗 a multi- suring the effect of several independent
lateral agreement 왍 multilateral trade variables on one dependent variable
trade between several countries multiple discriminant analysis
multilevel marketing /m lti /
m ltp(ə)l dskrmnənt ə
nləss/
lev(ə)l
mɑktŋ/ noun same as net- noun a method for assessing products
work marketing by separating out their various attrib-
multimagazine deal /
m ltim"ə- utes, and estimating the relative values
zin dil/ plural noun a deal where dif- of these attributes to different market
ferent publishers offer advertisers the segments. The whole process produces
opportunity to buy space in their maga- an assessment of the general potential of
zines at the same time a product.
multiple pricing /
m ltp(ə)l
multimedia /
m ltimidiə/ adjective prasŋ/ noun the practice of fixing the
referring to several media used in a pro- same price for several different products
ject 쑗 We are going for an all-out multi-
media advertising campaign. multiple regression analysis
/
m ltp(ə)l r"reʃ(ə)n ə
nləss/
multimedia document /
m lti- noun a method for discovering the rela-
midiə
dɒkjυmənt/ noun an elec- tionship between several independent
tronic document that contains interac- variables and one dependent variable
tive material from a range of different
media such as text, video, sound, graph- multiple store /m ltp(ə)l stɔ/
ics, and animation noun one store in a chain of stores
multinational /
m ltinʃ(ə)nəl/ multiplexing /m ltpleksŋ/ noun
noun a company which has branches or an arrangement where several TV chan-
subsidiary companies in several coun- nels are transmitted by one cable net-
tries 쑗 The company has been bought by work, or where several messages are
one of the big multinationals. combined in the same transmission
medium
multi-pack offer /m lti pk
ɒfə/
noun a special promotional offer in
multi-stage sample /m lt
sted
which an extra pack is offered free, or at sɑmpəl/ noun a sample selected by
a reduced price, for each pack bought at ensuring equal proportions of various
full price categories existing in the population and
then using random sampling to select re-
multiple /m ltp(ə)l/ adjective many spondents within these categories
쐽 noun a company with stores in sev-
multitasking /m ltitɑskŋ/ noun
eral different towns
performing several different tasks at the
‘…many independents took advantage of the
bank holiday period when the big multiples same time
were closed’ [The Grocer] mystery /mst(ə)ri/ noun something
‘…the multiple brought the price down to £2.49 which cannot be explained
in some stores. We had not agreed to this deal mystery shopper /mst(ə)ri
ʃɒpə/
and they sold out very rapidly. When they
reordered we would not give it to them. This noun a person employed by a
kind of activity is bad for the brand and we market-research company to visit shops
cannot afford it’ [The Grocer] anonymously to test the quality of
multiple choice question service
/
m ltp(ə)l tʃɔs
kwetʃən/ noun a mystery shopping /mst(ə)ri
type of question used in a survey which
ʃɒpŋ/ noun shopping done by anony-
allows the respondent to choose a single mous employees of a market-research
answer from several possible ones 쑗 company to test staff reactions, etc.
naira 178 natural

naira /narə/ noun currency used in throughout a whole country, not just in a
Nigeria (NOTE: no plural; naira is usu- local area
ally written N before figures: N2,000 National Debt /
nʃ(ə)nəl det/
say ‘two thousand naira’) noun money borrowed by a government
name /nem/ noun the word used for national income /
nʃ(ə)nəl
referring to a person, animal or thing 쑗 I nk m/ noun the value of income from
cannot remember the name of the man- the sales of goods and services in a
aging director of Smith’s Ltd. 쑗 His first country
name is John, but I am not sure of his
other names. 왍 under the name of us- nationalisation /
nʃ(ə)nəla-
ing a particular name 왍 trading under zeʃ(ə)n/, nationalization noun the
the name of ‘Best Foods’ using the taking over of private industry by the
name ‘Best Foods’ as a commercial state
name, and not the name of the company national launch /
nʃ(ə)nəl lɔntʃ/
named /nemd/ adjective 왍 the per- noun a launch of a product over the
son named in the policy the person whole country at the same time, as op-
whose name is given on an insurance posed to launching it in some areas only
policy as the person insured national newspaper /
nʃ(ə)nəl
njuzpepə/ noun a newspaper which
narrowcasting /nrəυkɑstŋ/
is sold throughout a whole country and
noun the act of reaching only a small
carries national and international news
special audience through an electronic
medium such as cable television national press /
nʃ(ə)nəl pres/
noun newspapers which sell in all parts
nation /neʃ(ə)n/ noun a country and of the country 쑗 The new car has been
the people living in it advertised in the national press.
national /nʃ(ə)nəl/ adjective refer- national retailer /
nʃ(ə)nəl
ring to the whole of a particular country ritelə/ noun a retailing company
왍 national advertising advertising in which has branches throughout a
every part of a country, not just in the country
capital 쑗 We took national advertising
to promote our new 24-hour delivery nationwide /neʃənwad/ adjective
service. 왍 national campaign a sales or all over a country 쑗 We offer a nation-
publicity campaign in every part of a wide delivery service. 쑗 The new car is
country being launched with a nationwide sales
campaign.
national account /
nʃ(ə)nəl
əkaυnt/ noun a customer with natural /ntʃ(ə)rəl/ adjective 1.
branches or offices all over the country found in the earth 쑗 The offices are
heated by natural gas. 2. not made by
national advertiser /
nʃ(ə)nəl people 쑗 They use only natural fibres
dvətazə/ noun a company that ad- for their best cloths. 3. normal 쑗 It was
vertises in every part of a country, not only natural that the shopkeeper should
just in the capital city feel annoyed when the hypermarket was
national brand /nʃ(ə)nəl brnd/ built close to his shop. 쑗 It was natural
noun a brand which is recognised for the workers to feel aggrieved when
natural break 179 negotiation

the management decided to change pro- changed for cash 왍 ‘not negotiable’
duction methods without consultation. words written on a cheque to show that
natural break /
ntʃ(ə)rəl brek/ it can be paid only to a specific person 왍
noun a convenient or reasonable point negotiable cheque a cheque made pay-
in a TV programme for a commercial able to bearer, i.e. to anyone who holds
break it
natural resources /
ntʃ(ə)rəl r- negotiable instrument /n-
zɔsz/ plural noun raw materials
"əυʃiəb(ə)l nstrυmənt/ noun a doc-
which are found in the earth, e.g. coal, ument which can be exchanged for cash,
gas or iron e.g. a bill of exchange or a cheque
navigation /
nv"eʃ(ə)n/ noun the negotiable paper /n
"əυʃiəb(ə)l
action of guiding and steering, in partic- pepə/ noun a document which can be
ular the graphics which lead users to dif- transferred from one owner to another
ferent websites for cash
necessity /nəsesti/ noun something negotiate /n"əυʃiet/ verb 왍 to ne-
which is vitally important, without gotiate with someone to discuss a prob-
which nothing can be done or no one lem formally with someone, so as to
can survive 쑗 Being unemployed makes reach an agreement 쑗 The management
it difficult to afford even the basic ne- refused to negotiate with the union. 왍 to
cessities. (NOTE: plural is necessities) negotiate terms and conditions or to
necessity product /nəsesti negotiate a contract to discuss and

prɒd kt/ noun an ordinary everyday agree the terms of a contract 왍 he nego-
product which consumers tend not to tiated a £250,000 loan with the bank
buy much more of as their incomes rise he came to an agreement with the bank
쑗 Consumers find shopping for neces- for a loan of £250,000
sity products boring. 쑗 Fancy packag- ‘…many of the large travel agency chains are
ing will not increase sales of necessity able to negotiate even greater discounts’
products. [Duns Business Month]
negative /ne"ətv/ adjective mean- negotiated commission /n-
ing ‘No’ 왍 the answer was in the nega-
"əυʃietd kəmʃ(ə)n/ noun commis-
tive the answer was ‘no’ sion agreed with an advertising agency
negative cash flow /
ne"ətv kʃ before work starts, and which may be
fləυ/ noun a situation where more different from standard commissions
money is going out of a company than is negotiation /n
"əυʃieʃ(ə)n/ noun
coming in the discussion of terms and conditions
negative demand /
ne"ətv d- in order to reach an agreement 왍 con-
mɑnd/ noun firm decisions by con- tract under negotiation a contract
sumers not to buy a particular product 쑗 which is being discussed 왍 a matter for
Negative demand was due to offensive negotiation something which must be
advertising. discussed before a decision is reached 왍
negative variance /
ne"ətv to enter into negotiations or to start
veəriəns/ noun a difference between a negotiations to start discussing a prob-
financial plan and its outcome that lem 왍 to resume negotiations to start
means a less favourable profit than ex- discussing a problem again, after talks
pected 쑗 The unexpected increase in have stopped for a time 왍 to break off
raw material prices meant a negative negotiations to stop discussing a prob-
variance of $5000. 쑗 A sudden fall in lem 왍 to conduct negotiations to nego-
revenue resulted in a negative variance tiate 왍 negotiations broke down after
for the year as a whole. six hours discussions stopped because
negotiable /n"əυʃiəb(ə)l/ adjective no agreement was possible
which can be transferred from one per- ‘…after three days of tough negotiations, the
son to another or exchanged for cash 왍 company reached agreement with its 1,200
unionized workers’ [Toronto Star]
not negotiable which cannot be ex-
negotiator 180 neural network

negotiator /n"əυʃietə/ noun 1. a net sales /net selz/ plural noun

person who discusses a problem with sales less damaged or returned items,
the aim of achieving agreement between discounts to retailers, etc.
different people or groups of people 2. a net weight /net wet/ noun the
person who works in an estate agency weight of goods after deducting the
nester /nestə/ noun a person who has packing material and container
left the family home and is buying his or network /netw&k/ noun a system
her own home which links different points together 쐽
net /net/ adjective referring to a price, verb to link together in a network 왍 to
weight, pay, etc., after all deductions network a television programme to
have been made 쐽 verb to make a true send out the same television programme
profit 쑗 to net a profit of £10,000 (NOTE: through several TV stations
netting – netted) network analysis /netw&k
‘…out of its earnings a company will pay a ə
nləss/ noun an analysis of a project
dividend. When shareholders receive this it will
be net, that is it will have had tax deducted at 30 that charts the individual activities in-
per cent’ [Investors Chronicle] volved, each with the time needed for its
net cash flow /net kʃ fləυ/ noun completion, so that the timing of the
the difference between the money com- whole can be planned and controlled
ing in and the money going out networked system /
netw&kt
net circulation /
net
s&kjυ- sstəm/ noun a computer system where
leʃ(ə)n/ noun the total sales figure of a several PCs are linked together so that
publication after adjusting for error and they all draw on the same database or
discounting unsold copies use the same server
net cover /net k və/ noun the pro- networking /netw&kŋ/ noun keep-
portion of a target audience exposed to ing in contact with former colleagues,
an advertisement at least once school friends, etc., so that all the mem-
bers of the group can help each other in
net loss /net lɒs/ noun an actual loss, their careers
after deducting overheads
network marketing /netw&k
net margin /net mɑdn/ noun the
mɑktŋ/ noun a marketing campaign
percentage difference between received carried out through a complete maga-
price and all costs, including overheads zine network
net names /net nemz/ plural noun network programming /netw&k
the names left in a mailing list after a
prəυ"rmŋ/ noun the practice of
merge-purge has removed the duplicate scheduling TV programmes over the
entries whole network
net national product /net network society /netw&k sə-

nʃ(ə)nəl prɒd kt/ noun the gross
saəti/ noun a society that regularly
national product less investment on cap- uses global networks for the purposes of
ital goods and depreciation work, communication, and government
net price /net pras/ noun the price net worth /net w&θ/ adjective the
of goods or services which cannot be re- value of all the property of a person or
duced by a discount company after taking away what the
net profit /net prɒft/ noun the person or company owes 쑗 The
amount by which income from sales is upmarket product is targeted at individ-
larger than all expenditure uals of high net worth.
net reach /net ritʃ/ noun the total net yield /net jild/ noun profit from
number of people who have seen an ad- investments after deduction of tax
vertisement at least once neural network /
njυərəl netw&k/
net receipts /net rsits/ plural noun noun a computer system designed to im-
receipts after deducting commission, itate the nerve patterns of the human
tax, discounts, etc. brain
never-never 181 nominal ledger

never-never /
nevə nevə/ noun buy- event which is sent to newspapers and
ing on credit (informal ) 쑗 She bought
. TV and radio stations so that they can
her car on the never-never. use it 쑗 The company sent out a news
new /nju/ adjective recent or not old release about the new product launch.
new buy /nju ba/ noun a type of or- news stand /njuz stnd/ noun a
ganisational buying in which a com- small wooden shop on a pavement, for
pletely new product is bought selling newspapers
new entrant /nju entrənt/ noun a new technology /nju teknɒlədi/
company which is going into a market noun electronic devices which have re-
for the first time cently been invented
new issues department /nju next matter /nekst mtə/,
ʃuz d
pɑtmənt/ noun the section of next-to-reading matter /
nekst tə
a bank which deals with issues of new ridŋ
mtə/ noun advertising mate-
shares rial placed next to editorial matter in a
publication
new product committee /nju
prɒd kt kə
mti/ noun a group of peo- niche /niʃ/ noun a special place in a
ple from different departments in a com- market, occupied by one company (a
pany who work together on a new ‘niche company’) 쑗 They seem to have
product development project 쑗 The new discovered a niche in the market.
product committee met regularly to niche market /niʃ mɑkt/ noun
monitor the progress in the product’s small speciality market, where there is
development. little competition
new product development /nju niche marketing /niʃ mɑktŋ/
prɒd kt d
veləpmənt/ noun the pro- noun the promotion of a product aimed
cess of developing completely new at one particular area of the market. 쏡
products or improving existing ones 쑗 concentrated marketing
The company fell behind because it Nielsen Index /nilsən
ndeks/ an
failed to invest enough in new product American publication belonging to A.C.
development. Abbr NPD Nielsen, with a number of different re-
news /njuz/ noun information about tail and wholesale audit services refer-
things which have happened 쑗 She al- ring to various types of outlet and
ways reads the business news or finan- different areas of the country
cial news first in the paper. 쑗 Financial night rate /nat ret/ noun cheap rate
markets were shocked by the news of the for telephone calls at night
devaluation. nixies /nksiz/ plural noun US (infor-
news agency /njuz
edənsi/ mal ) 1. records that do not match a file
.

noun an office which distributes news to correctly 2. mail returned as unable to

newspapers and television stations be delivered
new season /nju siz(ə)n/ noun the no-change discount /nəυ tʃend
start of the TV ‘year’, usually taken to
dskaυnt/ noun a reduction in the price
be the autumn and winter programming of an advertisement which uses the
season same artwork as a previous one
newsletter /njuzletə/ noun 왍 com- noise /nɔz/ noun a random signal
pany newsletter a printed sheet or present in addition to any wanted signal,
small newspaper giving news about a caused by static, temperature, power
company supply, magnetic or electric fields and
newspaper /njuzpepə/ noun a also from stars and the sun
regular publication, usually daily or noise level /nɔz
lev(ə)l/ noun the
weekly, which gives items of general amount of unwanted information found
news, sold to the general public when searching the Internet
news release /njuz r
lis/ noun a nominal ledger /
nɒmn(ə)l ledə/
sheet giving information about a new noun a book which records a company’s
non- 182 non-verbal communication

transactions in the various accounts channels that carry a message without

(normally, all accounts except those re- involving any contact between the ad-
lating to debtors, creditors and cash, vertiser and an individual customer
which are kept in separate ledgers) non-price competition /nɒn pras
non- /nɒn/ prefix not kɒmpə
tʃ(ə)n/ noun an attempt to
non-acceptance /
nɒn əkseptəns/ compete in a market through other
noun a situation in which the person means than price such as quality of
who is to pay a bill of exchange does not product and promotion
accept it non-profit-making organisation
non-business organisation /nɒn /nɒnprɒftmekŋ ɔ"ənazeʃən/,

bzns
ɔ"ənazeʃ(ə)n/ noun US an non-profit organisation /nɒn prɒft
organisation (such as a club) which is ɔ"əna
zeʃ(ə)n/ noun an organisa-
not allowed by law to make a profit 쑗 tion (such as a club) which is not al-
Though only a non-business organisa- lowed by law to make a profit 쑗
tion, the charity used highly sophisti- Non-profit-making organisations are
cated marketing techniques. 쑗 He exempted from tax. (NOTE: Non-profit
became a fundraiser for a non-business organisations include charities, pro-
organisation. fessional associations, trade unions,
and religious, arts, community, re-
non-delivery /nɒn dlv(ə)r/ noun search, and campaigning bodies. The
the failure to deliver goods that have American English is non-profit
been ordered corporation.)
non-directive interview /nɒn da- non-refundable /nɒn rf ndəb(ə)l/
rektv
ntəvju/, non-directed inter- adjective which will not be refunded 쑗
view /nɒn darektd
ntəvju/ noun You will be asked to make a
an interview in which the questions are non-refundable deposit.
not set in advance and no fixed pattern
is followed 쑗 Non-directed interviews
non-returnable /nɒn rt&nəb(ə)l/
adjective which cannot be returned
give candidates a good chance to show
their creative potential. non-returnable packing /nɒn r-

t&nəb(ə)l pkŋ/ noun packing
non-durables /nɒn djυərəb(ə)lz/, which is to be thrown away when it has
non-durable goods /nɒn djυərəb(ə)l
been used and not returned to the sender
"υdz/ plural noun goods which are used
up soon after they have been bought, non-statistical error /nɒn stə-
e.g. food or newspapers
tstk(ə)l erə/ noun a distortion of the
results of a survey owing to bias and
non-franchise-building promo- mistakes made in conducting the survey
tion /nɒn
frntʃaz bldŋ prə-
məυʃ(ə)nz/ noun sales promotion non-store retailing /
nɒn stɔ
aimed at increasing sales in the short ritelŋ/ noun the selling of goods and
term, without increasing customer loy- services electronically without setting
alty or repeat sales up a physical shop
non-negotiable instrument /nɒn non-traditional media /
nɒn trə-
n
"əυʃəb(ə)l nstrυmənt/ noun a
dʃ(ə)n(ə)l midiə/ noun 쒁 support
document which cannot be exchanged media
for cash, e.g. a crossed cheque non-verbal communication /nɒn
non-payment /nɒn pemənt/ noun
v&b(ə)l kə
mjunkeʃ(ə)n/ noun
왍 non-payment of a debt the act of not any form of communication that is not
paying a debt that is due expressed in words (NOTE: Non-verbal
communication, which includes, for ex-
non-personal /nɒn p&s(ə)n(ə)l/ ample, body language, silence, failure
adjective which does not apply to an in- or slowness to respond to a message
dividual person and lateness in arriving for a meeting,
non-personal channels /nɒn is estimated to make up 65–90% of all

p&s(ə)n(ə)l tʃn(ə)lz/ plural noun communication.)
no returns policy 183 numeric data

no returns policy /nəυ rt&nz £200 on the 30th of each month until

pɒlsi/ noun a trading policy where the further notice. 2. the time allowed be-
supplier will not take back unsold mer- fore something takes place 왍 at short
chandise in exchange for credit, and in notice with very little warning 쑗 The
return allows the retailer an extra bank manager will not see anyone at
discount short notice. 왍 you must give seven
normal /nɔm(ə)l/ adjective usual or days’ notice of withdrawal you must
which happens regularly 쑗 Normal de- ask to take money out of the account
liveries are made on Tuesdays and Fri- seven days before you want it
days. 쑗 Now that supply difficulties noticeboard /nəυtsbɔd/ noun a
have been resolved we hope to resume board fixed to a wall where notices can
normal service as soon as possible. 왍 be put up 쑗 Did you see the new list of
under normal conditions if things prices on the noticeboard?
work in the usual way 쑗 Under normal noting /nəυtŋ/ noun the act of notic-
conditions a package takes two days to ing, though not necessarily reading and
get to Copenhagen. understanding, an advertisement in a
normal distribution /
nɔm(ə)l publication
dstrbjuʃ(ə)n/ noun a term used in noting score /nəυtŋ skɔ/ noun the
sampling theory, referring to the results percentage of total readers who note an
of a sample and meaning a symmetrical advertisement 쑗 The amount of adver-
distribution of values around a mean or tising we will need to do depends on the
average, so that you can be confident anticipated noting score.
that the sample is properly representa- novelty /nɒv(ə)lti/ noun an original
tive of the people being surveyed in a amusing article which is often bought as
study a gift 쑗 A novelty shop provided paper
normal price /
nɔm(ə)l pras/ noun hats for parties.
the price that can be expected for a NPD abbr new product development
product under normal market conditions null /n l/ adjective 1. with no meaning
normal product /
nɔm(ə)l 2. which cannot legally be enforced 왍
prɒd kt/ noun a product which people the contract was declared null and
buy more of as their incomes rise and void the contract was said to be not
less of as their incomes fall valid 왍 to render a decision null to
normal profit /
nɔm(ə)l prɒft/ make a decision useless or to cancel it
noun a minimum profit that can moti- nullification /
n lfkeʃ(ə)n/ noun
vate a business to carry on a type of pro- an act of making something invalid
duction or selling nullify /n lfa/ verb to make some-
note /nəυt/ noun a short letter or short thing invalid or to cancel something
piece of information 쑗 to send someone (NOTE: nullifying- nullified)
a note 쑗 I left a note on her desk. 쐽 verb numeric /njumerk/, numerical
to notice an advertisement in a publica- /njumerk(ə)l/ adjective referring to
tion but not necessarily read or under- numbers 왍 in numerical order in the
stand it order of figures, e.g. 1 before 2, 33 be-
notice /nəυts/ noun 1. an official fore 34 쑗 File these invoices in numeri-
warning that a contract is going to end cal order.
or that terms are going to be changed 왍 numeric data /nju
merk detə/
until further notice until different in- noun data in the form of figures
structions are given 쑗 You must pay
O&M 184 off

O & M abbr organisation and methods date because of progress in design or

objective /əbdektv/ noun some- technology, and therefore becoming less
thing which you hope to achieve 쑗 The useful or valuable
company has achieved its objectives. 쑗 obsolescent /
ɒbsəles(ə)nt/ adjec-
We set the sales forces specific objec- tive becoming out of date
tives. 쐽 adjective considered from a
general point of view rather than from obsolete /ɒbsəlit/ adjective no lon-
that of the person involved 쑗 You must ger used 쑗 Computer technology
be objective in assessing the perfor- changes so fast that hardware soon be-
mance of the staff. 쑗 They have been comes obsolete.
asked to carry out an objective survey of odd /ɒd/ adjective one of a group 왍 we
the market. have a few odd boxes left we have a
objective and task method /əb- few boxes left out of the total shipment

dektv meθəd/ noun a method of 왍 to do odd jobs to do various pieces of
calculating an advertising appropriation work
by setting objectives, deciding what odd-even pricing /ɒd iv(ə)n
tasks are needed to achieve them and
prasŋ/ noun the practice of using odd
then calculating the actual costs numbers such as 0.95 or 0.99 or even
involved numbers such as 1.00 or 2.50 when pric-
obligation /
ɒbl"eʃ(ə)n/ noun 1. a ing, because this seems to be most effec-
duty to do something 쑗 There is no obli- tive psychologically in persuading
gation to buy. 왍 two weeks’ free trial customers to buy 쑗 Students can study
without obligation the customer can try the psychological bases of odd-even
the item at home for two weeks without pricing.
having to buy it at the end of the test 왍 odd lot /ɒd lɒt/ noun a group of mis-
to be under an obligation to do some- cellaneous items for sale at an auction
thing to feel it is your duty to do some-
oddments /ɒdmənts/ plural noun
thing 왍 he is under no contractual
1. items left over 2. pieces of large items
obligation to buy he has signed no con-
sold separately
tract which forces him to buy 2. a debt 왍
to meet your obligations to pay your odd number /ɒd n mbəz/ noun
debts numbers which cannot be divided by
observation method /ɒbzəveʃən two, e.g. 17 or 33 쑗 Buildings with odd

meθəd/, observational research numbers are on the south side of the
/ɒbzə
veʃən(ə)l rs&tʃ/ noun a mar- street
ket research method that obtains infor- odd size /ɒd saz/ noun a size which
mation through personal observation, is not usual
rather than interviews 쑗 The observa- off /ɒf/ adverb 1. not working or not in
tion method does not tell you anything operation 쑗 The agreement is off. 쑗
about the consumers’ attitudes to the They called the strike off. 2. lower than
product. a previous price 쑗 The shares closed 2%
obsolescence /
ɒbsəles(ə)ns/ noun off. 쑗 We give 5% off for quick settle-
the process of a product going out of ment. 쐽 preposition subtracted from 쑗
off-card rate 185 off-the-peg research

to take £25 off the price 쑗 We give 10% official receiver /ə
fʃ(ə)l rsivə/
off our normal prices. noun a government official who is ap-
‘…its stock closed Monday at $21.875 a share in pointed to run a company which is in fi-
NYSE composite trading, off 56% from its high nancial difficulties, to pay off its debts
last July’ [Wall Street Journal] as far as possible, and to close it down 쑗
off-card rate /ɒf kɑd ret/ noun a The court appointed a receiver for the
specially arranged price, lower than that company. 쑗 The company is in the
on the rate card, for advertising space or hands of the receiver.
time 쑗 The newspaper offered us an off-licence /ɒf
las(ə)ns/ noun 1. a
off-card rate for space which was still shop which sells alcohol for drinking at
empty the day before publication. home 2. a licence to sell alcohol for
offensive spending /ə
fensv drinking away from the place where you
spendŋ/ noun spending on advertising buy it
which aims to attract users of a rival offload /ɒfləυd/ verb to pass some-
brand or to attack the competition thing which you do not want to someone
offer /ɒfə/ noun 1. a statement that else 왍 to offload excess stock to try to
you are willing to pay a specific amount sell excess stock 왍 to offload costs onto
of money to buy something 쑗 to make a subsidiary company to try to get a
an offer for a company 쑗 We made an subsidiary company to pay some
offer of £10 a share. 쑗 We made a writ- charges so as to reduce tax
ten offer for the house. 쑗 £1,000 is the off-peak /ɒf pik/ adjective not dur-
best offer I can make. 쑗 We accepted an ing the most busy time
offer of £1,000 for the car. 왍 the house off-peak period /ɒf pik
pəriəd/
is under offer someone has made an of- noun the time when business is less
fer to buy the house and the offer has busy
been accepted provisionally 왍 we are
open to offers we are ready to discuss
off-price label /ɒf pras
leb(ə)l/
noun a label on a product which shows a
the price which we are asking 왍 or near
reduced price
offer or or best offer US or an offer of
a price which is slightly less than the off-season noun /ɒf
siz(ə)n/ the
price asked 쑗 The car is for sale at less busy season for travel, usually dur-
£2,000 or near offer. 2. a statement that ing the winter 쑗 Air fares are cheaper in
you are willing to sell something 왍 offer the off-season.
for sale a situation where a company offset / ɒfset/ noun a method of print-
advertises new shares for sale to the ing from a plate to a rubber surface and
public as a way of launching the com- then to paper
pany on the Stock Exchange. The other offset lithography /
ɒfset l-
ways of launching a company are a ‘ten- θɒ"rəfi/ noun a printing process used
der’ or a ‘placing’. 3. 왍 She received for printing books, where the ink sticks
six offers of jobs/six job offers six to image areas on the plate and is trans-
companies told her she could have a job ferred to an offset cylinder from which
with them 쐽 verb 1. to say that you are it is printed on to the paper
willing to pay a specific amount of
money for something 쑗 to offer some- off-the-page buying /
ɒf ðə ped
one £100,000 for their house 쑗 She of-
baŋ/ noun the buying of items which
fered £10 a share. 2. to say that you are have been advertised in magazines or
willing to sell something 쑗 We offered newspapers
the house for sale. 쑗 They are offering off-the-peg /ɒf ðə pe"/ adjective,
special prices on winter holidays in the adverb ready made in standard sizes,
USA. and not fitted specially 쑗 She buys all
Office of Fair Trading /
ɒfs əv feə her clothes off-the-peg.
tredŋ/ noun a government depart- off-the-peg research /ɒf ðə pe" r-
ment which protects consumers against s&tʃ/ noun the practice of taking re-
unfair or illegal business. Abbr OFT search which has already been carried
oil-exporting country 186 open

out in another context, and using it as one-time order /
w n tam ɔdə/
the basis for taking particular decisions noun an order for an advertising spot for
oil-exporting country /ɔl k- a particular time which is not scheduled

spɔtŋ
k ntri/ noun country which to be repeated
produces oil and sells it to others one-time rate /w n tam ret/ noun
a special rate for an advertisement that
oligopoly /ɒl"ɒpəli/ noun a situa- is only placed once
tion where only a few sellers control the
market 쑗 An oligopoly means that one-to-one /
w n tə w n/ adjective
prices can be kept high. where one person has to deal with one
other person only
oligopsony /ɒl"ɒpsəni/ noun a sit-
uation where only a few buyers control one-to-one marketing /
w n tə
the market w n mɑktŋ/ noun marketing
through a website which aims to estab-
omnibus advertisement lish a personal relationship with a cus-
/ɒmnbəs əd
v&tsmənt/ noun an ad- tomer, selling to each customer as an
vertisement which covers several differ- individual and trying to differentiate be-
ent products tween customers
omnibus agreement /ɒmnbəs on-hold advertising /ɒn həυld
ə
"rimənt/ noun an agreement which
dvətazŋ/ noun advertising to tele-
covers many different items phone callers while they are waiting to
omnibus research /ɒmnbəs r- be connected to the person they want to

s&tʃ/, omnibus survey /ɒmnbəs speak to, usually involving voice mes-

s&ve/ noun a survey to which several sages about the firm and its products
companies subscribe, each adding spe- online /ɒnlan/ adverb linked directly
cific questions of its own to a mainframe computer 쑗 The sales
oncosts /ɒnkɒsts/ plural noun office is online to the warehouse. 쑗 We
money spent in producing a product get our data online from the stock con-
which does not rise with the quantity of trol department.
the product made (NOTE: also called ‘…there may be a silver lining for
‘clicks-and-mortar’ stores that have both an
fixed costs) online and a high street presence. Many of these
one-sided /w n sadd/ adjective are accepting returns of goods purchased online
at their traditional stores. This is a service that
which favours one side and not the other may make them more popular as consumers
in a negotiation 쑗 a one-sided become more experienced online shoppers’
agreement [Financial Times]
one-sided message /w n
sadd online shopping /
ɒnlan ʃɒpŋ/
mesd/ noun a message which only noun same as electronic shopping
gives the benefits of a product or service online shopping mall /
ɒnlan
one-step approach /
w n step ʃɒpŋ mɔl/ noun same as cyber mall
əprəυtʃ/ noun a form of direct market- on-pack promotion /ɒn pk prə-
ing where advertisements are used to
məυʃ(ə)n/ noun advertising material
obtain orders directly on the outside of packaged goods 쑗 We
one-stop /
w n stɒp ʃɒpŋ/ adjec- use on-pack promotion to stimulate buy-
tive offering a wide range of services to ing at the point-of-sale. 쑗 Our on-pack
a customer, not necessarily services promotion is designed to complement
which are related to the product or ser- the TV advertising campaign.
vices which the company normally sells op-ed /ɒp ed/ noun in a newspaper, a
one-stop shopping centre /
w n page that has signed articles expressing
stɒp ʃɒpŋ
sentə/ noun a shopping personal opinions, usually found oppo-
centre with a comprehensive choice of site the editorial page
shops and supermarkets, designed to open /əυpən/ adjective ready to ac-
cover all of a customer’s shopping cept something 왍 the job is open to all
needs applicants anyone can apply for the job
open account 187 operant conditioning

왍 open to offers ready to accept a rea- licence for all goods which are subject
sonable offer 왍 the company is open to to special import restrictions
offers for the empty factory the com- opening /əυp(ə)nŋ/ noun 1. the act
pany is ready to discuss an offer which of starting a new business 쑗 the opening
is lower than the suggested price 쐽 verb of a new branch 쑗 the opening of a new
to start a new business 쑗 She has market or of a new distribution network
opened a shop in the High Street. 쑗 We 2. opportunity to do something 쐽 adjec-
have opened a branch in London. tive being at the beginning, or the first
open account /
əυpən əkaυnt/ of several
noun an account where the supplier of-
opening balance /əυp(ə)nŋ
fers the purchaser credit without
bləns/ noun a balance at the begin-
security ning of an accounting period
open-air market /
əυpən eə
mɑkt/ noun a market which is held opening bid /əυp(ə)nŋ bd/ noun
on stalls in the open air the first bid at an auction
open communication /
əυpən opening entry /əυp(ə)nŋ
entri/
kəmjunkeʃ(ə)n/ noun a policy in- noun the first entry in an account
tended to ensure that employees are able opening hours /əυp(ə)nŋ aυəz/
to find out everything they want to plural noun hours when a shop or busi-
know about their organisation ness is open
open credit /
əυpən kredt/ noun opening sentence /
əυp(ə)nŋ
credit given to good customers without sentəns/ noun the first sentence in an
security email
open dating /
əυpən detŋ/ noun opening stock /əυp(ə)nŋ stɒk/
the practice of putting the sell-by date noun the stock details at the beginning
on a packet in an uncoded form which of an accounting period
can be understood by the consumers 쑗 open market /
əυpən mɑkt/ noun
Open dating is considered by many to a market where anyone can buy or sell
be an important feature of consumer
protection in food products. open pricing /
əυpən prasŋ/ noun
the attempt by companies to achieve
open-door policy /
əυpən dɔ some cooperation and conformity in

pɒlsi/ noun policy in which a country pricing 쑗 Representatives from the ma-
accepts imports from all other countries jor companies in the industry are meet-
on equal terms ing to establish an open-pricing policy.
open-ended /
əυpən endd/ adjec-
tive with no fixed limit or with some
open rate /əυpən ret/ noun an ad-
items not specified 쑗 They signed an vertising rate where discounts are avail-
open-ended agreement. 쑗 The candidate able for frequent or bulk orders
was offered an open-ended contract open standard /
əυpən stndəd/
with a good career plan. (NOTE: Ameri- noun a standard for computers and re-
can English is open-end) lated products that allows pieces of
open-ended question /
əυpən equipment from different manufacturers
endd kwestʃən/ noun a question in a to operate with each other
questionnaire which allows respondents open up /
əυpən  p/ verb 왍 to open
to answer in some detail as they like up new markets to work to start busi-
without having simply to say ‘yes’ or ness in markets where such business has
‘no’ 쑗 Open-ended questions elicit an- not been done before
swers that are original but hard to eval- operant conditioning /ɒpərənt
uate. 쑗 An open-ended question is kən
dʃ(ə)nŋ/ noun a learning theory
needed here, since the question involves stating that behaviour can be modified
the respondent’s personal feelings. by stimuli and also by the consequences
open general licence /
əυpən which follow on from the behaviour

den(ə)rəl las(ə)ns/ noun an import itself
operate 188 opinion shopping

operate /ɒpəret/ verb 1. to be in operational /
ɒpəreʃ(ə)nəl/ adjec-

force 쑗 The new terms of service will tive 1. referring to how something
operate from January 1st. 쑗 The rules works 2. working or in operation
operate on inland postal services only. operational budget /
ɒpəreʃ(ə)nəl
2. to make something work or function b dt/ noun a forecast of expenditure
왍 to operate a machine to make a ma- on running a business
chine work 쑗 He is learning to operate
the new telephone switchboard. operational costs /
ɒpəreʃ(ə)nəl
‘…the company gets valuable restaurant
kɒsts/ plural noun the costs of running
locations which will be converted to the a business
family-style restaurant chain that it operates and operational planning
franchises throughout most parts of the US’
[Fortune] /
ɒpəreʃ(ə)nəl plnŋ/ noun the plan-
ning of how a business is to be run
operating /ɒpəretŋ/ noun the gen-
eral running of a business or of a operational research
machine /
ɒpəreʃ(ə)nəl rs&tʃ/ noun a study
‘…the company blamed over-capacity and
of a company’s way of working to see if
competitive market conditions in Europe for a it can be made more efficient and
£14m operating loss last year’ [Financial Times] profitable
operating budget /ɒpəretŋ operations review /
ɒpəreʃ(ə)z r-

b dt/ noun a forecast of income and vju/ noun examining the way in which
expenditure over a period of time a company or department works to see
how it can be made more efficient and
operating manual /ɒpəretŋ profitable

mnjυəl/ noun a book which shows
how to work a machine opinion-former /əpnjən
fɔmə/,
opinion-leader /əpnjən
lidə/ noun
operating statement /ɒpəretŋ someone well known whose opinions

stetmənt/ noun a financial statement influence others in society 쑗 A pop-star
which shows a company’s expenditure is the ideal opinion-leader if we are
and income and consequently its final aiming at the teenage market. 쑗 The ce-
profit or loss 쑗 The operating statement lebrity used in the sales promotion cam-
shows unexpected electricity costs. 쑗 paign was not respected enough to be a
Let’s look at the operating statement to true opinion-former.
find last month’s expenditure.
opinion-leader research /ə
pnjən
operating supplies /ɒpəretŋ sə- lidə rs&tʃ/ noun research into the at-

plaz/ plural noun low-priced industrial titudes of opinion-leaders
products that are normally bought by
producers 쑗 Production came to a opinion poll /əpnjən pəυl/ noun
standstill for lack of operating supplies. asking a sample group of people what
쑗 We are now ordering operating sup- their opinion is, so as to guess the opin-
plies for next month’s production. ion of the whole population 쑗 Opinion
polls showed that the public preferred
operating system /ɒpəretŋ butter to margarine. 쑗 Before starting

sstəm/ noun the main program which the new service, the company carried
operates a computer out nationwide opinion polls.
operation /
ɒpəreʃ(ə)n/ noun busi- opinion shopping /əpnjən
ness organisation and work 쑗 the com-
ʃɒpŋ/ noun the practice of trying to
pany’s operations in West Africa 쑗 He find an auditor who interprets the law in
heads up the operations in Northern the same way that the company does, is
Europe. likely to view the company’s actions
‘…a leading manufacturer of business, sympathetically and will approve the
industrial and commercial products requires a company’s financial statements, even if
branch manager to head up its mid-western
Canada operations based in Winnipeg’ the company has been involved in deal-
[Globe and Mail (Toronto)] ings that other auditors might consider
questionable
opportunities to see 189 order

opportunities to see /ɒpə
tjuntiz cise an option to accept the option

tə si/ plural noun the number of op- which has been offered and to put it into
portunities an average member of the action 쑗 They exercised their option or
target audience will have to see an ad- they took up their option to acquire sole
vertisement. Abbr OTS marketing rights to the product. 왍 I
opportunity /
ɒpətjunt/ noun the want to leave my options open I want
chance to do something successfully to be able to decide what to do when the
‘…the group is currently undergoing a period of time is right
rapid expansion and this has created an exciting optional /ɒpʃən(ə)l/ adjective which
opportunity for a qualified accountant’
[Financial Times] can be added if the customer wants 쑗
The insurance cover is optional.
opportunity and threat analysis
/ɒpə
tjunt ən θret ə
nləss/ noun optional extra /
ɒpʃən(ə)l ekstrə/
a company’s analysis of both the advan- noun an item that is not essential but can
tages and disadvantages in its situation, be added if wanted
done in order to ensure sound strategic opt out /ɒpt aυt/ noun the action of
planning asking not to receive advertising email
opportunity cost /
ɒpətjunt messages and being removed from an
kɒst/ noun the cost of a business initia- email list
tive in terms of profits that could have OR abbr operational research
been gained through an alternative plan Oracle /ɒrək(ə)l/ a UK teletext ser-
쑗 It’s a good investment plan and we vice broadcast by the IBA
will not be deterred by the opportunity
cost. orange goods /ɒrnd "υdz/ plural
noun goods which are not bought as of-
optimal /ɒptm(ə)l/ adjective best ten as fast-moving items but are re-
optimal balance /
ɒptm(ə)l placed from time to time, e.g. clothing.
bləns/ noun the best combination of Compare red goods, yellow goods
elements or activities that can be orbit /ɔbt/ noun the practice of rotat-
achieved in a marketing mix 쑗 If it ing advertisements among different
achieves optimal balance the company programmes on a TV station
will soon be a market leader.
opt-in /ɒpt n/ noun a process that re- order /ɔdə/ noun 1. an official re-
quest for goods to be supplied 쑗 to give
quires people who want to receive infor-
someone an order or to place an order
mation or services for a website to do
with someone for twenty filing cabinets
something that shows they have actively
왍 to fill an order or to fulfil an order
chosen to do so, before the website
to supply items which have been or-
owner can send them email
dered 쑗 We are so understaffed we can-
opt-in mailing list /
ɒpt n melŋ not fulfil any more orders before
lst/ noun a list of email addresses in Christmas. 왍 items available to order
which each recipient has specifically only items which will be manufactured
asked to receive advertising email mes- only if someone orders them 왍 on order
sages, normally so that they can keep up ordered but not delivered 쑗 This item is
to date with a topic or industry out of stock, but is on order. 2. an item
option /ɒpʃən/ noun the opportunity which has been ordered 쑗 The order is
to buy or sell something within a fixed to be delivered to our warehouse. 3. an
period of time at a fixed price 왍 to have instruction 4. a document which allows
first option on something to have the money to be paid to someone 쑗 She sent
right to be the first to have the possibil- us an order on the Chartered Bank. 5. 왍
ity of deciding something 왍 to grant pay to Mr Smith or order pay money
someone a six-month option on a to Mr Smith or as he orders 왍 pay to the
product to allow someone six months order of Mr Smith pay money directly
to decide if they want to be the agent or to Mr Smith or to his account 쐽 verb 1.
if they want to manufacture the product, to ask for goods to be supplied 쑗 They
etc. 왍 to take up an option or to exer- ordered a new Rolls Royce for the man-
order book 190 outbid

aging director. 2. to instruct 쑗 to order ‘…we organize a rate with importers who have
twenty filing cabinets to be delivered to large orders and guarantee them space at a fixed
rate so that they can plan their costs’
the warehouse [Lloyd’s List]
order book /ɔdə bυk/ noun a book ‘…governments are coming under increasing
which records orders received pressure from politicians, organized labour and
business to stimulate economic growth’
order confirmation /ɔdə kɒnf- [Duns Business Month]

meʃ(ə)n/ noun an email message in- organised market /
ɔ"ənazd
forming a purchaser that an order has mɑkt/ noun a market controlled by
been received regulations set down by government or
order form /ɔdə fɔm/ noun a pad an official organisation 쑗 The govern-
of blank forms for orders to be written ment feels that an organised market is
on not conducive to business initiative.
order fulfilment /ɔdə fυl
flmənt/ organisation and methods
noun supplying items which have been /
ɔ"əna
zeʃ(ə)n ən meθədz/ noun a
ordered process of examining how an office
order number /ɔdə
n mbə/ noun works, and suggesting how it can be
the reference number printed on an made more efficient. Abbr O & M
order orientation /
ɔriənteʃ(ə)n/ noun
order picking /ɔdə
pkŋ/ noun the main interest or type of activity 쑗
the process of collecting various items The company’s orientation is towards
in a warehouse in order to make up an production and it has little marketing
order to be sent to a customer experience.
order taking /ɔdə
tekŋ/ noun the oriented /ɔrientd/, orientated
action of taking an order, the main re- /ɔriən
tetd/ adjective interested in
sponsibility of the salesperson or involved with 쑗 Our strategy is ori-
ented towards achieving further growth
organisation /
ɔ"ənazeʃ(ə)n/, in the export market. 쑗 The promotion is
organization noun 1. a way of arrang- entirely product-oriented.
ing something so that it works effi-
ciently 쑗 the organisation of the head origin /ɒrdn/ noun the place where
office into departments 쑗 The chairman something or someone originally comes
handles the organisation of the AGM. 쑗 from 쑗 spare parts of European origin
The organisation of the group is too original /ərdən(ə)l/ adjective
centralised to be efficient. 2. a group or which was used or made first 쑗 They
institution which is arranged for effi- sent a copy of the original invoice. 쑗 He
cient work kept the original receipt for reference. 쐽
‘…working with a client base which includes noun the first copy made 쑗 Send the
many major commercial organizations and original and file two copies.
nationalized industries’ [Times]
originally /ərdən(ə)l/ adverb first
organisational buying /
ɔ"əna- or at the beginning
zeʃ(ə)nəl
baŋ/ noun buying by a original purchase /ə
rdən(ə)l
large organisation, such as a company or p&tʃs/ noun a copy of a magazine or
government department, as opposed to newspaper which is actually bought by
purchases by individual consumers the reader, rather than simply read by
organisation chart /
ɔ"əna- them
zeʃ(ə)n tʃɑt/ noun a diagram show- OS abbr outsize
ing how a company or an office is
organised
O/S abbr out of stock
OTO abbr one time only
organise /ɔ"ənaz/, organize verb
to set up a system for doing something OTS abbr opportunities to see
쑗 the company is organised into six outbid /aυtbd/ verb to offer a better
profit centres 쑗 the group is organised price than someone else 쑗 We offered
by sales areas £100,000 for the warehouse, but an-
outdoor 191 over-

other company outbid us. (NOTE: out- outsell /aυtsel/ verb to sell more than
bidding – outbid) someone 쑗 The company is easily out-
outdoor /aυtdɔ/ adjective in the selling its competitors. (NOTE: outsell-
open air ing – outsold)
outdoor advertising /
aυtdɔr outside broadcast /
aυtsad
dvətazŋ/ noun 1. advertising on the brɔdkɑst/ noun a programme not
outside of a building or in the open air, transmitted from a studio
using posters on hoardings or neon signs outside director /
aυtsad da-
2. advertising in the open air, including rektə/ noun a director who is not em-
advertising in public transport, on ployed by the company, a non-executive
roadsides, at bus stops, skywriting, etc. director
outer /aυtə/ noun a piece of packag- outside poster /
aυtsad pəυstəz/
ing which covers items which already noun a poster on public transport
are in packages such as buses, taxis, trains and the
outer pack /aυtə pk/ noun a con- underground
tainer which holds a number of smaller outsize /aυtsaz/ noun a size which
packaged items 쑗 The goods are sold in is larger than usual. Abbr OS 왍 outsize
outer packs, each containing twenty order a very large order
packets.
outlet /aυtlet/ noun a place where outsource /aυt
sɔs/ verb to use a
source outside a company or business to
something can be sold
do the work that is needed
out-of-date /
aυt əv det/ adjective,
adverb old-fashioned or no longer mod- outsourcing /aυtsɔsŋ/ noun the
ern 쑗 Their computer system is years transfer of work previously done by em-
out of date. 쑗 They’re still using ployees of an organisation to another or-
out-of-date equipment. ganisation, usually one that specialises
in that type of work (NOTE: Things that
out-of-home advertising /
aυt əv have usually been outsourced in the
həυm dvətazŋ/ noun outdoor ad- past include legal services, transport,
vertising including transport, catering, and security, but nowadays
skywriting, etc. IT services, training, and public rela-
out of stock /aυt əv stɒk/ adjective, tions are often added to the list.)
adverb with no stock left 쑗 Those books ‘…organizations in the public and private
are temporarily out of stock. 쑗 Several sectors are increasingly buying in specialist
out-of-stock items have been on order services – or outsourcing – allowing them to cut
costs and concentrate on their core business
for weeks. Abbr O/S activities’ [Financial Times]
output /aυtpυt/ noun the amount
which a company, person or machine outstanding /aυtstndŋ/ adjective
produces 쑗 Output has increased by not yet paid or completed 왍 outstand-
10%. 쑗 25% of our output is exported. ing debts debts which are waiting to be
‘…crude oil output plunged during the last paid 왍 outstanding orders orders re-
month and is likely to remain near its present ceived but not yet supplied 왍 what is
level for the near future’ [Wall Street Journal] the amount outstanding? how much
output bonus /aυtpυt
bəυnəs/, money is still owed? 왍 matters out-
output-based bonus /
aυtpυt best standing from the previous meeting
bəυnəs/ noun an extra payment for in- questions which were not settled at the
creased production previous meeting
output per hour /
aυtpυt pər aυə/ outward mission /
aυtwəd
noun the amount of something produced mʃ(ə)n/ noun a visit by a group of
in one hour businesspeople to a foreign country
output tax /aυtpυt tks/ noun VAT over- /əυvə/ prefix more than 왍 shop
charged by a company on goods or ser- which caters to the over-60s a shop
vices sold, and which the company pays which has goods which appeal to people
to the government who are more than sixty years old
overall 192 over-the-counter sales

overall /
əυvərɔl/ adjective covering overprint /
əυvəprnt/ verb to print

or including everything 왍 the company text on paper which already contains
reported an overall fall in profits the printed matter 쑗 The retailer’s name
company reported a general fall in prof- and address is overprinted on the cata-
its 왍 overall plan a plan which covers logue. 쑗 We will overprint the catalogue
everything with the retailer’s name and address.
overcharge noun /əυvətʃɑd/ a overproduce /
əυvəprədjus/ verb
charge which is higher than it should be to produce too much of a product
쑗 to pay back an overcharge 쐽 verb overproduction /
əυvəprəd kʃən/
/
əυvətʃɑd/ to ask too much money noun the manufacturing of too much of
쑗 They overcharged us for our meals. 쑗 a product
We asked for a refund because we’d
been overcharged. overrider /əυvəradə/, overriding
commission /əυvəradŋ kə-
overhead budget /
əυvəhed
mʃ(ə)n/ noun a special extra commis-
b dt/ noun a plan of probable over- sion which is above all other
head costs commissions
overhead costs /
əυvəhed kɒsts/, overseas adjective /əυvəsiz/ across
overhead expenses /
əυvəhed k- the sea or to foreign countries 쑗 Man-
spensz/ plural noun money spent on agement trainees knew that they would
the day-to-day cost of a business be sent overseas to learn about the ex-
overheads /əυvəhedz/ plural noun port markets. 쑗 Some workers are going
the costs of the day-to-day running of a overseas to find new jobs. 왍 overseas
business 쑗 The sales revenue covers the markets markets in foreign countries 왍
manufacturing costs but not the over- overseas trade trade with foreign coun-
heads. (NOTE: American English is usu- tries 쐽 noun foreign countries 쑗 The
ally overhead.) profits from overseas are far higher
‘…it ties up less capital in inventory and with its
than those of the home division.
huge volume spreads out costs over bigger sales; overseas call /
əυvəsiz kɔl/ noun
add in low overhead (i.e. minimum staff, no a call to another country
deliveries, no credit cards) and a warehouse club
can offer bargain prices’ [Duns Business Month] overseas division /
əυvəsiz d-
v(ə)n/ noun the section of a company
overkill /əυvəkl/ noun a very inten- dealing with trade with other countries
sive and expensive marketing campaign
which has the effect of putting potential oversell /əυvəsel/ verb to sell more
customers off than you can produce 왍 he is oversold
he has agreed to sell more product than
overlay /
əυvəle/ noun a transparent he can produce 왍 the market is over-
plastic sheet placed over artwork with sold stock-market prices are too low,
instructions for changing it, or showing because there have been too many
the artwork is to be printed sellers
overmatter /əυvəmtə/, overspend /əυvəspend/ verb to
oversetting /əυvəsetŋ/ noun text spend too much
which, when it is typeset, is too long for
the space available overstock /əυvəstɒk/ verb to have
more stock than is needed 왍 to be over-
overpayment /əυvəpemənt/ noun stocked with spare parts to have too
an act of paying too much many spare parts in stock
overprice /
əυvəpras/ verb to give a overstocks /əυvəstɒks/ plural noun
higher price to something than seems US more stock than is needed to supply
reasonable orders 쑗 We will have to sell off the
overpricing /
əυvəprasŋ/ noun the overstocks to make room in the
charging of a higher price than is justi- warehouse.
fied by demand 쑗 Overpricing led to the over-the-counter sales /
əυvə ðə
producer being priced out of the market. kaυntə
selz/ plural noun the legal
overweight 193 own-label goods

selling of shares which are not listed in owner /əυnə/ noun a person who
the official Stock Exchange list, usually owns something 왍 goods sent at
carried out by telephone owner’s risk a situation where the
overweight /əυvəwet/ adjective 왍 owner has to insure the goods while
the package is sixty grams overweight they are being transported
the package weighs sixty grams too own label /əυn leb(ə)l/ noun goods
much specially produced for a store with the
‘Cash paid for your stock: any quantity, any store’s name on them
products, overstocked lines, factory seconds’
[Australian Financial Review] own-label goods /
əυn
leb(ə)l
"υdz/ plural noun goods specially pro-
own brand /əυn brnd/ noun the duced for a store with the store’s name
name of a store which is used on prod- on them
ucts which are specially packed for that ‘…the company is hunting for a marketing
store director as part of an effort to expand its
own-brand goods /
əυn brnd non-food division and introduce own-label. It
will also review its entire own-label ranges and
"υdz/ plural noun products specially look at the possibility of rolling out the non-food
packed for a store with the store’s name division own-label brands’ [Marketing Week]
on them ‘…its survey of brand development indicates
that whereas branded goods appeal to over-45
year olds, supermarket own-label goods are
favoured by consumers under the age of 34’
[Marketing Week]
P2P 194 packing

P2P /
pi tə pi/ adjective referring to package deal /pkd dil/ noun an
direct communications or dealings be- agreement where several different items
tween one computer to another without are agreed at the same time 쑗 They
a central server being involved (NOTE: agreed a package deal which involves
P2P stands for peer-to-peer.) the construction of the factory, training
pack /pk/ noun items put together in of staff and purchase of the product.
a container or shrink-wrapped for sell- package holiday /pkd
ing 왍 items sold in packs of 200 items
hɒlde/, packaged holiday
sold in boxes containing 200 items 왍 /pkdd
hɒlde/ noun a holiday
blister pack or bubble pack a type of whose price includes transport and
packing where the item for sale is cov- accomodation, and sometimes also
ered with a stiff plastic cover sealed to a meals 쑗 The travel company is arrang-
card backing 쐽 verb to put things into a ing a package trip to the international
container for selling or sending 쑗 to trade fair.
pack goods into cartons 쑗 Your order packaging /pkdŋ/ noun 1. the
has been packed and is ready for ship- act of putting things into packages 2.
ping. 쑗 The biscuits are packed in plas- material used to protect goods which are
tic wrappers. being packed 쑗 bubble wrap and other
package /pkd/ noun 1. goods packaging material 쑗 The fruit is sold in
packed and wrapped for sending by mail airtight packaging. 3. attractive material
쑗 The Post Office does not accept bulky used to wrap goods for display
packages. 쑗 The goods are to be sent in ‘…the consumer wants to be challenged by
airtight packages. 2. a group of different more individual products and more innovative
items joined together in one deal 3. a packaging’ [Marketing]
group of TV or radio programmes or ‘…promotional packaging can mean rethinking
commercial spots offered with a dis- more than just the pack graphics’ [Marketing]
count by a station 쐽 verb 왍 to package packer /pkə/ noun a person who
goods to wrap and pack goods in an at- packs goods
tractive way
‘…airlines offer special stopover rates and hotel packet /pkt/ noun a small box of
packages to attract customers to certain routes’ goods for selling 쑗 Can you get me a
[Business Traveller] packet of cigarettes? 쑗 She bought a
‘…the remuneration package will include an packet of biscuits. 쑗 We need two pack-
attractive salary, profit sharing and a company ets of filing cards. 왍 item sold in pack-
car’ [Times] ets of 20 items are sold in boxes
‘…airlines will book not only tickets but also containing 20 items each
hotels and car hire to provide a complete
package’ [Business Traveller] packing /pkŋ/ noun 1. the act of
putting goods into boxes and wrapping
packaged /pkdd/ adjective put them for shipping 쑗 What is the cost of
into a package 쑗 packaged goods the packing? 쑗 Packing is included in
‘…in today’s fast-growing packaged goods area the price. 2. material used to protect
many companies are discovering that a
well-recognized brand name can be a priceless
goods 쑗 The fruit is packed in airtight
asset’ [Duns Business Month] packing.
packing case 195 parcel

packing case /pkŋ kes/ noun a pallet /plət/ noun a flat wooden
large wooden box for carrying items base on which goods can be stacked for
which can be easily broken easy handling by a fork-lift truck, and
packing charges /pkŋ on which they remain for the whole of

tʃɑdz/ plural noun money charged their transportation (NOTE: American
for putting goods into boxes English is skid)
palletise /plətaz/, palletize verb
packing station /pkŋ
steʃ(ə)n/ to put goods on pallets 쑗 palletised
noun a place where goods are packed
cartons
for transport 쑗 From the production line
the goods are taken directly to the pack- pamphlet /pmflət/ noun a small
ing station. 쑗 The company has three booklet of advertising material or of
packing stations, each one dealing with information
goods for a particular part of the world. panel /pn(ə)l/ noun 1. a flat surface
page /ped/ noun one side of a sheet standing upright 2. a group of people
of printed paper in a book, newspaper or who give advice on a problem 쑗 a panel
magazine of experts
panel study /pn(ə)l
st di/ noun a
page impressions /ped m- study that collects and analyses the

preʃ(ə)nz/ plural noun the number of
opinions of a selected group of people
customers who land on a webpage, e.g.
over a period of time
in an ad view
panic buying /pnk
baŋ/ noun a
page make-up /ped mek p/ rush to buy something at any price be-
noun the arranging of material into cause stocks may run out
pages in a publication
pantry check /pntri tʃek/, pantry
page proof /ped pruf/ noun a audit /pntri
ɔdt/ noun a survey
proof after the text has been made up method where a panel or sample of
into pages, ready for checking before householders keep records of purchases
printing so that these can be regularly checked
page rate /ped ret/ noun the cost for quantity and brand 쑗 The pantry
of a whole page of advertising space 쑗 check suggests that there is little brand
What’s the page rate in that paper? 쑗 loyalty for that type of product.
The page rate is lower in August when paper /pepə/ noun 1. a newspaper 2.
circulation is at its lowest. documents which can represent money,
page traffic /ped
trfk/ noun e.g. bills of exchange or promissory
the proportion of readers of a publica- notes
tion who read a particular page 쑗 Let’s ‘…the profits were tax-free and the interest on
the loans they incurred qualified for income tax
find out the page traffic before we de- relief; the paper gains were rarely changed into
cide to advertise on page two. spending money’ [Investors Chronicle]
page view /ped vju/ noun the paper loss /pepə lɒs/ noun a loss
number of times a page containing an made when an asset has fallen in value
advertisement is seen or how many but has not been sold
times a page is displayed paper profit /pepə
prɒft/ noun a
paid circulation /
ped
s&kjυ- profit on an asset which has increased in
leʃ(ə)n/ noun the number of copies of price but has not been sold 쑗 He is
a newspaper or magazine which have showing a paper profit of £25,000 on his
been bought. 쏡 controlled circulation, investment.
subscribed circulation parallel billboard /
prəlel
paired comparisons /
peəd kəm- blbɔd/ noun a billboard which is par-
prs(ə)nz/ plural noun a test in which allel to a main road
respondents compare two brands on the parcel /pɑs(ə)l/ noun goods wrapped
basis of attributes which are common to up in paper or plastic to be sent by post
both 쑗 to do up goods into parcels 왍 to tie up
parcel delivery service 196 patent agent

a parcel to fasten a parcel with string 왍 party-plan selling /pɑti pln

parcel rates the charges for sending
selŋ/ noun selling by salespeople who
parcels by post 쐽 verb to wrap and tie present their products at parties organ-
up in a parcel 쑗 to parcel up a consign- ised in their homes 쑗 Party-plan selling
ment of books (NOTE: parcelling – par- provides a relaxed atmosphere in which
celled. The American spelling is people are more inclined to buy the
parceling – parceled) products being shown.
parcel delivery service /
pɑs(ə)l par value /pɑ vlju/ noun the
dlv(ə)ri
s&vs/ noun a private com- value written on a share certificate
pany which delivers parcels within a passenger manifest /
psndə
specific area mnfest/ noun a list of passengers on
parcel post /pɑs(ə)l pəυst/ noun a a ship or plane
mail service for sending parcels 쑗 Send passing trade /
pɑsŋ tred/ noun
the order by parcel post. selling to people who go past the shop
parcels office /pɑs(ə)lz
ɒfs/ without intending to buy
noun an office where parcels can be pass off /
pɑs ɒf/ verb 왍 to pass
handed in for sending by mail something off as something else to pre-
tend that something is another thing in
Pareto’s Law /pə
ritəυz lɔ/, order to cheat a customer 쑗 She tried to
Pareto Effect /pəritəυ 
fekt/ noun
pass off the wine as French, when in fact
the theory that a small percentage of a
it came from outside the EU.
total is responsible for a large propor-
tion of value or resources pass-on readership /pɑs ɒn

ridəʃp/ noun the number of people
part exchange /
pɑt kstʃend/ who read a publication who have not
noun the act of giving an old product as bought it, but have borrowed it from a
part of the payment for a new one 쑗 to purchaser 쑗 We know the magazine’s
take a car in part exchange circulation, but will have to estimate the
participation /pɑ
tspeʃ(ə)n/ level of pass-on readership. (NOTE:
noun taking part in something, e.g. American English is pass-along
when advertisers buy commercial time readership)
on TV patent /petənt, ptənt/ noun an
partnering /pɑtnərŋ/ noun same as official document showing that a person
strategic partnering has the exclusive right to make and sell
an invention 쑗 to take out a patent for a
partnership /pɑtnəʃp/ noun a new type of light bulb 쑗 to apply for a
business set up by two or more people
patent for a new invention 왍 ‘patent ap-
who make a contract with each other
plied for’ or ‘patent pending’ words
agreeing to share the profits and losses
on a product showing that the inventor
(NOTE: A partnership is not an incorpo-
has applied for a patent for it 왍 to forfeit
rated company and the individual part-
a patent to lose a patent because pay-
ners are responsible for decisions and
ments have not been made 왍 to infringe
debts.)
a patent to make and sell a product
part payment /pɑt pemənt/ noun which works in the same way as a pat-
the paying of part of a whole payment 쑗 ented product and not pay a royalty for
I gave him £250 as part payment for the it 왍 to file a patent application to apply
car. for a patent 쐽 verb 왍 to patent an in-
party /pɑti/ noun 1. an organisation vention to register an invention with the
or person involved in a legal dispute or patent office to prevent other people
legal agreement 쑗 How many parties from copying it
are there to the contract? 쑗 The com- patent agent /pt(ə)nt
edənt/
pany is not a party to the agreement. 2. noun a person who advises on patents
a group of people who meet to celebrate and applies for patents on behalf of
something or to enjoy themselves clients
patented 197 pay down

patented /petəntd, ptəntd/ ad- phone system installed. 왍 to pay in in-

jective which is protected by a patent stalments to pay for an item by giving
patentee /
petənti/ noun a person small amounts regularly 쑗 We are buy-
or business that has acquired a patent 쑗 ing the van by paying instalments of
We shall have to obtain the patentee’s £500 a month. 왍 to pay cash to pay the
permission to manufacture the product. complete sum in cash 왍 to pay by
cheque to pay by giving a cheque, not
patent medicine /
pet(ə)nt
by using cash or credit card 왍 to pay by
med(ə)s(ə)n/ noun a medicine which
credit card to pay using a credit card,
is registered as a patent
not a cheque or cash 2. to give money
patent office /pt(ə)nt
ɒfs/ noun which is owed or which has to be paid 쑗
a government office which grants pat- He was late paying the bill. 쑗 We
ents and supervises them phoned to ask when they were going to
patent rights /pet(ə)nt rats/ plural pay the invoice. 쑗 You will have to pay
noun the rights which an inventor holds duty on these imports. 쑗 She pays tax at
because of a patent the highest rate. (NOTE: paying- paid)
patron /petrən/ noun 1. a regular 왍 to pay on demand to pay money
customer, e.g. of a hotel, restaurant, etc. when it is asked for, not after a period of
쑗 The car park is for the use of hotel pa- credit 왍 please pay the sum of £10
trons only. 2. a person who gives an or- please give £10 in cash or by cheque
ganisation or charity financial support 쑗 ‘…recession encourages communication not
She is a patron of several leading because it makes redundancies easier, but
because it makes low or zero pay increases
charities. easier to accept’ [Economist]
patronage /ptrənd/ noun the ‘…the yield figure means that if you buy the
state of being a regular customer shares at their current price you will be getting
patronise /ptrənaz/, patronize 5% before tax on your money if the company
pays the same dividend as in its last financial
verb to be a regular customer 쑗 I year’ [Investors Chronicle]
stopped patronising that restaurant
when their prices went up. payable /peəb(ə)l/ adjective which
is due to be paid 왍 payable in advance
pattern /pt(ə)n/ noun the general which has to be paid before the goods
way in which something usually hap-
are delivered 왍 payable on delivery
pens 쑗 the pattern of sales or The sales
which has to be paid when the goods are
pattern is quite different this year.
delivered 왍 payable on demand which
pattern advertising /pt(ə)n must be paid when payment is asked for

dvətazŋ/ noun an advertising cam- 왍 payable at sixty days which has to be
paign that follows a general global paid by sixty days after the date on the
approach invoice 왍 cheque made payable to
pattern book /pt(ə)n bυk/ noun a bearer a cheque which will be paid to
book showing examples of design the person who has it, not to any particu-
patterned interview /
pt(ə)nd lar name written on it 왍 shares payable
ntəvju/ noun an interview using on application shares which must be
questions set in advance and following a paid for when you apply to buy them
fixed pattern payback period /pebk
pəriəd/
pay /pe/ verb 1. to give money to buy noun the length of time it will take to
an item or a service 쑗 to pay £1,000 for earn back the money invested in a
a car 쑗 How much did you pay to have project
the office cleaned? 왍 ‘pay cash’ words pay-cheque /pe tʃek/ noun a
written on a crossed cheque to show that monthly cheque by which an employee
it can be paid in cash if necessary 왍 to is paid (NOTE: the American spelling is
pay in advance to pay before you re- paycheck)
ceive the item bought or before the ser-
vice has been completed 쑗 We had to pay down /pe daυn/ verb 왍 to pay
pay in advance to have the new tele- money down to make a deposit 쑗 They
payee 198 pedestrian precinct

paid £50 down and the rest in monthly with a job 쑗 The job carries an attrac-
instalments. tive salary package.
payee /pei/ noun a person who re- pay-per-click /
pe pe klk/ noun
ceives money from someone, or the per- same as pay-per-view
son whose name is on a cheque pay-per-play /
pe pe ple/ noun a
payer /peə/ noun a person who gives website where the user has to pay to
money to someone play an interactive game over the
payload /peləυd/ noun the cargo or Internet
passengers carried by a ship, train or pay-per-view /pe pə/ noun a
plane for which payment is made website where the user has to pay to see
digital information, e.g., an e-book or
payment /pemənt/ noun 1. the e-magazine
money exchanged for goods or a service
쑗 We always ask for payment in cash or pay television /pe tel
v(ə)n/,
cash payment and not payment by pay TV /pe ti vi/ noun a television
cheque. 쑗 The payment of interest or the service that is paid for by regular
interest payment should be made on the subscriptions
22nd of each month. 왍 payment after PC abbr personal computer
delivery paying for goods at an agreed PD abbr physical distribution
date after delivery 쑗 There is a 10% dis-
count for payment on delivery, but none peak /pik/ noun the highest point 쑗
for payment after delivery. 왍 payment The shares reached their peak in Janu-
on account paying part of the money ary. 쑗 The share index has fallen 10%
owed 왍 payment on delivery paying since the peak in January. 쑗 With-
for goods when they are delivered 쑗 drawals from bank accounts reached a
Some customers won’t agree to payment peak in the week before Christmas. 쑗
on delivery and want more time to settle He has reached the peak of his career. 쐽
up. 왍 payment on invoice paying verb to reach the highest point 쑗 Pro-
money as soon as an invoice is received ductivity peaked in January. 쑗 Shares
왍 payment in kind paying by giving have peaked and are beginning to slip
goods or food, but not money 왍 pay- back. 쑗 He peaked early and never
ment by results money given which in- achieved his ambition of becoming man-
creases with the amount of work done or aging director. 쑗 Demand peaks in Au-
goods produced 왍 payment supra pro- gust, after which sales usually decline.
test payment of a bill of exchange by a peak output /pik autpυt/ noun the
third party to protect the debtor’s hon- highest output
our 2. money paid 왍 repayable in easy peak period /pik
pəriəd/ noun the
payments repayable with small sums time of the day when something is at its
regularly highest point, e.g. when most commu-
payment gateway /pemənt ters are travelling or when most electric-

"etwe/ noun software that processes ity is being used
online credit-card payments. It gets peak time /pik tam/ noun the time
authorisation for the payment from the during the day when the greatest num-
credit-card company and transfers ber of people are watching television 쑗
money into the retailer’s bank account. For the price of a 30-second spot at
payment terms /pemənt t&mz/ peak time we can get two minutes in
plural noun the conditions laid down by mid-morning.
a business regarding when it should be peak year /pik jə/ noun year when
paid for goods or services that it sup- the largest quantity of products was pro-
plies, e.g. cash with order, payment on duced or when sales were highest
delivery or payment within a particular pedestrian precinct /pə
destriən
number of days of the invoice date prisŋkt/ noun the part of a town
pay package /pe
pkd/ noun which is closed to traffic so that people
the salary and other benefits offered can walk about and shop
peer group 199 periodical

peer group /pə
"rup/ noun the num? 쑗 She earns over £100,000 per
class of people that a person can respect annum.
or identify with, because they belong to
the same age group, social class or have per capita /pə kptə/ adjective, ad-
verb for each person
the same opinions 쑗 Consumers are
found to be especially influenced by the per-capita expenditure /pə
tastes and opinions of those in their peer
kptə kspendtʃə/ noun the total
groups. money spent divided by the number of
peer-to-peer adjective full form of people involved
P2P per capita income /p&
kptə
peg /pe"/ verb to maintain prices at a nk m/ noun the average income of
specific level (NOTE: pegging- each member of a particular group of
pegged) 쐽 noun a hook to hang clothes people, e.g., the citizens of a country
on percentage bounced back /pə-
pen /pen/ noun an instrument for writ-
sentd baυnst bk/ noun the num-
ing with, using ink ber of email messages returned as unde-
penalty clause /pen(ə)lti klɔz/ liverable, shown as a percentage of the
noun a clause which lists the penalties total sent
which will be imposed if the terms of percentile /pəsental/ noun one of a
the contract are not fulfilled 쑗 The con- series of ninety-nine figures below
tract contains a penalty clause which which a percentage of the total falls
fines the company 1% for every week
the completion date is late.
perception /pəsepʃən/ noun the way
in which something is viewed and as-
penetrate /pentret/ verb 왍 to pen- sessed by a person
etrate a market to get into a market and
capture a share of it perceptual map /pə
septʃuəl mp/
noun a map or diagram which repre-
penetrated market /
pentretd sents how consumers view various com-
mɑkt/ noun a market where more of parative products on the basis of
a company’s products are sold, shown specific factors or attributes 쑗 Thorough
as a percentage of the total market, us- analysis of perceptual maps was fol-
ing aggressive pricing and advertising lowed by decisions on changes in prod-
penetration /pentreʃ(ə)n/ noun 1. uct design and marketing strategy.
the percentage of a target market that
accepts a product 2. the percentage of a perfect adjective /p&fkt/ com-
target audience reached by an pletely correct with no mistakes 쑗 We
advertisement check each batch to make sure it is per-
fect. 쑗 She did a perfect keyboarding
penetration pricing /pentreʃ(ə)n test. 쐽 verb /pəfekt/ to develop or im-

prasŋ/ noun the practice of pricing a prove something until it is as good as it
product low enough to achieve market can be 쑗 They perfected the process for
penetration 쑗 Penetration pricing is making high-grade steel.
helping us acquire a bigger market
share at the expense of short-term perfect competition /
p&fkt
profits. kɒmpətʃ(ə)n/ noun (in economic the-
ory) the ideal market, where all products
penetration strategy /pen-
are equal in price and all customers are
treʃ(ə)n
strtədi/ noun selling provided with all information about the
more of a company’s products into a products
market segment, shown as a percentage
of the total market, by aggressive pric- perfect market /
p&fkt mɑkt/
ing and advertising. 쏡 market noun an imaginary market where there
penetration is perfect competition
per annum /pər nəm/ adverb in a periodical /
pəriɒdk(ə)l/ noun a
year 쑗 What is their turnover per an- magazine which comes out regularly,
num? 쑗 What is his total income per an- usually once a month or once a week
perishable 200 personality advertising

perishable /perʃəb(ə)l/ adjective to make personal calls during office

which can go bad or become rotten eas- hours.
ily 쑗 perishable goods 쑗 perishable
items 쑗 a perishable cargo personal computer /
p&s(ə)n(ə)l
kəmpjutə/ noun a small computer
perishables /perʃəb(ə)lz/ plural which can be used by one person in the
noun goods which can go bad easily home or office. Abbr PC
‘…the survey, which covered 7,376
supermarkets run by 119 companies, found that Personal Identification Number
sales of food at the stores dropped by 2.9%. That /
p&s(ə)n(ə)l adentfkeʃ(ə)n
decline, also the largest on record, was due to
n mbə/ noun a unique number allo-
increasing price awareness among customers
and the lower price of perishables’
cated to the holder of a cash card or
[Nikkei Weekly] credit card, by which he or she can enter
an automatic banking system, as, e.g., to
permanent /p&mənənt/ adjective withdraw cash from a cash machine or
which will last for a long time or for to pay in a store
ever 쑗 He has found a permanent job. 쑗
the permanent staff and part-timers 쑗 personal interview /
p&s(ə)n(ə)l
She is in permanent employment. ntəvju/ noun an act of questioning
respondents in a survey directly, by
permanent income hypothesis
meeting them 쑗 The advantage of a per-
/
p&mənənt nk m ha
pɒθəss/
sonal interview is that we have the
noun the theory that people spend ac-
chance to explain the questions. 쑗 It’s
cording to the average income they ex-
possible that interviewers’ bias may in-
pect to receive in their lifetime
fluence results in a personal interview.
permission marketing /pəmʃ(ə)n

mɑktŋ/ noun any form of online di- personalisation /
p&s(ə)nəla-
rect marketing that requires the seller to zeʃ(ə)n/, personalization noun 1.
get permission from each recipient be- the process by which a website presents
fore sending him or her any promotional customers with selected information
material that is designed to meet their individual
needs 2. using personal information
permit noun /p&mt/ an official doc- such as the addressee’s first name in a
ument which allows someone to do mailing campaign
something 쐽 verb /pəmt/ to allow
someone to do something 쑗 This docu- personalised /p&s(ə)nəlazd/, per-
ment permits you to export twenty-five sonalized adjective with the name or
computer systems. 쑗 The ticket permits initials of a person printed on it 쑗 She
three people to go into the exhibition. 쑗 has a personalised briefcase.
Will we be permitted to use her name in personalised mailing
the advertising copy? 쑗 Smoking is not /
p&s(ə)nəlazd melŋ/ noun a
permitted in the design studio. (NOTE: mailing of letters addressed to particular
permitting- permitted) people by name
persistent demand /pə
sstənt d- personality /
p&sənlt/ noun 1. a
mɑnd/ noun a continuous or stable de- famous person, usually connected with
mand for a product 쑗 Persistent demand television or sport 2. the character, espe-
for the product means that there is very cially the tone of an advertising email,
little pressure to adapt it. 쑗 The product e.g. serious, cheerful, etc.
is so useful that it is not surprising there
is a persistent demand for it. personality advertising /
p&sə-
nlt
dvətazŋ/, personality
personal /p&s(ə)n(ə)l/ adjective re- promotion /
p&sənlt prə-
ferring to one person
məυʃ(ə)n/ noun a promotion which
personal call /p&s(ə)n(ə)l kɔl/ makes use of a famous person to en-
noun 1. a telephone call where you ask dorse a product 쑗 Personality promo-
the operator to connect you with a par- tion is a tried and tested method of
ticular person 2. a telephone call not re- promoting beauty products. 쑗 A famous
lated to business 쑗 Staff are not allowed pop star was chosen for the personality
personal selling 201 pilot

promotion because of her widespread pop- wholesaler, then to the retailer and so to
ularity among the target audience. the end user 쑗 Physical distribution is
personal selling /p&s(ə)n(ə)l always a problem because of high trans-

selŋ/ noun selling to a customer by portation costs. Abbr PD
personal contact, either face to face or physical inventory /
fzk(ə)l
by telephone 쑗 Personal selling allows nvənt(ə)ri/ noun an act of counting
any doubts the prospective customer actual items of stock
may have to be cleared up by the physical retail shopping
salesman. /
fzk(ə)l ritel
ʃɒpŋ/ noun shop-
persuade /pəswed/ verb to talk to ping that involves visiting actual shops
someone and get them to do what you rather than buying online
want 쑗 We could not persuade the physical stock /
fzk(ə)l stɒk/
French company to sign the contract. noun the actual items of stock held in a
persuasibility /pə
swezblti/ warehouse
noun US the degree to which a target picking /pkŋ/ noun selecting a
audience can be persuaded through ad- product according to its packaging or
vertising that a product has good quali- place on the shelf, rather than by making
ties 쑗 Persuasibility will depend on a conscious decision to buy
consumer’s experience with products picking list /pkŋ lst/ noun a list of
similar to the ones we are promoting. items in an order, listed according to
persuasion /pəswe(ə)n/ noun the where they can be found in the
act of persuading warehouse
persuasion matrix /pəswe(ə)n pickup /pk  p/ noun a type of small

metrks/ noun a planning model van for transporting goods
which shows how responses are affected pickup and delivery service
by the communications they receive /
pk p ən dlv(ə)ri
s&vs/ noun
PESTLE /pes(ə)l/ noun analysis of 1. a service which takes goods from
the various outside influences on a firm, the warehouse and delivers them to the
shown as Political, Environmental, So- customer 2. a service which takes
cial, Technological, Legislative and something away for cleaning or servic-
Economic ing and returns it to the owner when
photoengraving /
fəυtəυn- finished
"revŋ/ noun a process of producing a picture messaging /pktʃə
metal plate for printing, by photograph-
mesdŋ/ noun the transmission of
ing an image onto the plate which is images and photographs from one mo-
then etched in such a way that prints can bile phone to another
be taken from it piggy-back advertising /p"i bk
photogravure /
fəυtəυ"rəvjυə/
dvətazŋ/, piggy-back promotion
noun a type of photoengraving where /p"i bk prə
məυʃ(ə)n/ noun the
the design is etched into the metal rather sales promotion for one product which
than in relief accompanies promotion for another
photo opportunity /fəυtəυ ɒpə- product made by the same company
tjunti/ noun an arranged situation piggy-back freight /
p"i bk
where a famous person can be filmed or fret
s&vs/ noun US the transport of
photographed by journalists loaded trucks on freight trains. Compare
phototypesetting /
fəυtəυ- fishy-back freight
tapsetŋ/ noun typesetting by photo- pilferage /plfərd/, pilfering
graphic means rather than by using /plfərŋ/ noun the stealing of small
metal type amounts of money or small items from
physical distribution /
fzk(ə)l an office or shop
dstrbjuʃ(ə)n/ noun the process of pilot /palət/ adjective used as a test,
moving goods from the producer to the which if successful will then be ex-
pilot survey 202 plan

panded into a full operation 쑗 The com- copyright work 쑗 a pirated book 쑗 The
pany set up a pilot project to see if the designs for the new dress collection
proposed manufacturing system was ef- were pirated in the Far East. 쐽 adjec-
ficient. 쑗 The pilot factory has been tive copied without permission 쑗 a pi-
built to test the new production pro- rate copy of a book
cesses. 쑗 She is directing a pilot scheme pitch /ptʃ/ noun presentation by an
for training unemployed young people. advertising agency to a potential
쐽 verb to test a project on a small num- customer
ber of people, to see if it will work in ‘…the head of marketing says the company is
practice 쐽 noun 1. a trial episode of a reviewing its advertising agency arrangements,
proposed TV series 2. a pilot project but does not have a pitch list at this stage’
[Marketing Week]
pilot survey /palət
s&ve/ noun a
preliminary survey carried out to see if a pix /pks/ plural noun pictures used in
full survey would be worth while advertising or design (informal ) .

pixel /pksəl/ noun the smallest single

PIN abbr Personal Identification unit or point on a display or on a printer
Number
whose colour or brightness can be con-
pink advertising /
pŋk trolled. A monitor normally has a reso-
dvətazŋ/ noun advertising aimed lution of 72 pixels per inch, whereas a
specifically at the gay and lesbian laser printer has a resolution of 300–600
market pixels (also called dots) per inch.
pink dollar /
pŋk dɒlə/ noun US placard /plkɑd/ noun 1. a poster of
money spent by gay and lesbian double crown size (i.e. 30 inches deep
customers by 20 inches wide) 2. a large advertise-
pink market /pŋk
mɑkt/ noun ment on a stiff card
the market that consists of gay and les- placement test /plesmənt test/
bian people noun a test where different versions of a
pink pound /
pŋk paυnd/ noun new product are tested in different
money spent by gay and lesbian places and with different types of con-
customers sumer (as opposed to market tests,
where the new product is actually sold
pioneer /
paənə/ verb to be the first through normal distribution channels in
to do something 쑗 The company pio- the test areas)
neered developments in the field of
electronics. placement testing /plesmənt

testŋ/ noun the practice of sending a
pioneer selling /paənə
selŋ/ product to different places for trial and
noun hard intensive selling in new mar- then interviewing the users on its perfor-
kets 쑗 A campaign of pioneer selling mance 쑗 Placement testing revealed
was organised to educate the public in that the product was too easily
the use of the new product. 쑗 There was breakable.
a lot of consumer resistance to pioneer
selling, since few customers had heard place utility /ples ju
tlti/ noun
of the product or thought they needed it. the usefulness to a customer of receiv-
ing a product at a particular place
pipeline /paplan/ noun a distribu-
tion channel from the manufacturer plain cover /plen k və/ noun 왍 to
through wholesalers and retailers to the send something under plain cover to
customer 쑗 How many different busi- send something in an ordinary envelope
nesses are involved in the product’s with no company name printed on it
pipeline? plan /pln/ noun a way of doing some-
piracy /parəsi/ noun the copying of thing which has been decided on and or-
patented inventions or copyright works ganised in advance 쐽 verb to decide on
and organise something in advance
pirate /parət/ noun a person who (NOTE: planning – planned)
copies a patented invention or a copy- ‘…the benefits package is attractive and the
right work and sells it 쐽 verb to copy a compensation plan includes base, incentive and
planned obsolescence 203 poly bag

car allowance totalling $50,000+’ ‘…banks refrained from quoting forward

[Globe and Mail (Toronto)] US/Hongkong dollar exchange rates as
premiums of 100 points replaced discounts of up
planned obsolescence /
plnd to 50 points’ [South China Morning Post]

ɒbsəles(ə)ns/ adjective built-in obso-
lescence 쑗 Planned obsolescence was point of action /
pɔnt əv kʃən/
condemned by the consumer organisa- noun a place in a presentation that en-
tion as a cynical marketing ploy. courages the prospective purchaser to
take action. Abbr POA
planning /plnŋ/ noun the process
of organising how something should be point of purchase /
pɔnt əv
done in the future 쑗 Setting up a new in- p&tʃs/ noun 1. a place where a prod-
centive scheme with insufficient plan- uct is bought, which is usually the same
ning could be a disaster. 쑗 The as point of sale, though not always, as in
long-term planning or short-term plan- the case of mail-order purchases. Abbr
ning of the project has been completed. POP 2. same as point of sale
‘…buildings are closely regulated by planning point-of-purchase advertising
restrictions’ [Investors Chronicle] /
pɔnt əv
p&tʃs dvətazŋ/ noun
plans board /plnz bɔd/ noun a advertising at the place where the prod-
group of senior managers that meets to ucts are bought, e.g. posters or dump
discuss campaign strategy 쑗 The plans bins. Abbr POPA
board will meet on Monday to discuss point-of-purchase display /
pɔnt
the latest sales figures. 쑗 The plans əv
p&tʃs dsple/ noun an arrange-
board has decided to concentrate the ment of products and marketing mate-
campaign in those areas where there rial at the place where an item is bought,
are most sales representatives. which is designed to encourage sales
plastic /plstk/ noun a plastic card, point of sale /
pɔnt əv sel/ noun
especially a credit or debit card, for use 1. a place where a product is sold, e.g. a
as a means of payment shop. Abbr POS 2. the place where a
plateau /pltəυ/ noun a level point, product is bought by the customer
e.g. when sales or costs stop increasing (NOTE: The point of sale can be a par-
ticular shop, or a display case or even
plateau pricing /pltəυ
prasŋ/ a particular shelf inside a shop.)
noun the setting of a medium price for a
product where the raw materials used in point-of-sale material /
pɔnt əv
making it are likely to change a lot in sel mə
təriəl/ noun display material
price to advertise a product where it is being
sold, e.g. posters or dump bins
platform /pltfɔm/ noun a high
pavement in a station, so that passengers policy /pɒlsi/ noun decisions on the
can get on or off trains 쑗 The train for general way of doing something 쑗 a
Birmingham leaves from Platform 12. company’s trading policy 쑗 The coun-
try’s economic policy seems to lack any
Plc abbr Public Limited Company direction. 쑗 Our policy is to submit all
PLC abbr product life cycle contracts to the legal department. 왍
company policy the company’s agreed
ploy /plɔ/ noun a trick or gimmick,
plan of action or the company’s way of
used to attract customers
doing things 쑗 What is the company
plug /pl "/ noun 왍 to give a plug to a policy on credit? 쑗 It is against com-
new product to publicise a new product pany policy to give more than thirty
쐽 verb to publicise or advertise 쑗 They days’ credit.
ran six commercials plugging holidays
in Spain. (NOTE: plugging- plugged)
poll /pəυl/ noun same as opinion poll
쐽 verb 왍 to poll a sample of the popu-
point /pɔnt/ noun a place or position lation to ask a sample group of people
‘…sterling M3, the most closely watched what they feel about something
measure, rose by 13% in the year to August –
seven percentage points faster than the rate of poly bag /
pɒli b"/ noun US a plas-
inflation’ [Economist] tic bag used in packaging
polycentric stage 204 post

polycentric stage /pɒlisentrk port authority /pɔt ɔθɒrti/ noun

sted/ noun US the stage in a com- an organisation which runs a port
pany’s international marketing when portfolio /pɔtfəυliəυ/ noun a folder
there is a separate marketing planning containing a selection of samples 쑗 The
unit for each country 쑗 It’s an expand- student brought a portfolio of designs to
ing multinational in its polycentric show the design department manager.
stage.
port installations /
pɔt nstə-
POP abbr point of purchase leʃ(ə)nz/ plural noun the buildings
POPA abbr point-of-purchase and equipment of a port
advertising port of call /
pɔt əv kɔl/ noun a
port at which a ship often stops
popular /pɒpjυlə/ adjective liked by
many people 쑗 This is our most popular portrait /pɔtrt/ noun an illustration,
model. 쑗 The South Coast is the most page or book whose height is greater
popular area for holidays. than its width. Compare landscape
popular price /
pɒpjυlə prasz/ position /pəzʃ(ə)n/ noun a situation
noun a price which is low and therefore or state of affairs 왍 what is the cash po-
liked sition? what is the state of the com-
pany’s current account?
popular pricing /
pɒpjυlə prasŋ/ positioning /pəzʃ(ə)nŋ/ noun 1.
noun a pricing method which tries to fix the creation of an image for a prod-
prices that will be popular with custom- uct in the minds of consumers 2. the
ers 쑗 Our competitor’s popular pricing placing of an advertisement in a specific
strategy is a serious threat to our sales. place on a specific page of a magazine
population /
pɒpjυleʃ(ə)n/ noun 1. 3. the promotion of a product in a partic-
the number of people who live in a ular area of a market
country or in a town 쑗 Paris has a pop- positive /pɒztv/ adjective meaning
ulation of over three million. 쑗 Popula- ‘yes’ 쑗 The board gave a positive reply.
tion statistics show a rise in the 18–25 ‘…as the group’s shares are already widely held,
age group. 쑗 Population trends have to the listing will be via an introduction. It will also
be taken into account when drawing up be accompanied by a deeply-discounted £25m
rights issue, leaving the company cash positive’
economic plans. 쑗 The working popula- [Sunday Times]
tion of the country is getting older. 2.
the group of items or people in a survey positive appeal /
pɒztv əpil/
or study noun advertising which shows why a
product is attractive
population forecast /
pɒpjυ-
leʃ(ə)n
fɔkɑst/ noun a calculation positive cash flow /
pɒztv kʃ
of how many people will be living in a fləυ/ noun a situation where more
country or in a town at some point in the money is coming into a company than is
future going out
positive variance /
pɒztv
pop-under ad /pɒp ndər
d/ veəriəns/ noun a difference between a
noun a web advertisement that appears financial plan and its outcome, that
in a separate browser window from the means a more favourable profit than ex-
rest of a website pected 쑗 The managing director is
port /pɔt/ noun a harbour where ships pleased because costs this year show a
come to load or unload 쑗 the port of £60,000 positive variance.
Rotterdam 왍 to call at a port to stop at a possession utility /pəzeʃ(ə)n ju-
port to load or unload cargo
tlti/ noun same as marginal utility
portal /pɔt(ə)l/ noun a website that post /pəυst/ noun 1. a system of send-
provides access and links to other sites ing letters and parcels from one place to
and pages on the web (NOTE: Search another 쑗 to send an invoice by post 쑗
engines and directories are the most He put the letter in the post. 쑗 The
common portal sites.) cheque was lost in the post. 왍 to send a
post- 205 potential

reply by return of post to reply to a let- poster site /pəυstə sat/ noun a
ter immediately 왍 post free without hoarding, wall or other surface, where
having to pay any postage 쑗 The game posters are put up 쑗 We want a poster
is obtainable post free from the manu- site in a busy street. 쑗 I wish we could
facturer. 2. letters sent or received 쑗 afford a prime poster site for our
Has the post arrived yet? 쑗 The first fund-raising campaign. 쏡 bill poster,
thing I do is open the post. 쑗 The receipt fly poster
was in this morning’s post. 쑗 The letter postpaid /pəυstped/ adjective with
didn’t arrive by the first post this morn- the postage already paid 쑗 The price is
ing. (NOTE: British English uses both £5.95 postpaid.
mail and post but American English
only uses mail) 쐽 verb to send some- post-purchase /
pəυst p&tʃs/ ad-
thing by post 쑗 to post a letter or to post jective after a purchase has been made
a parcel post-purchase advertising
post- /pəυst/ prefix meaning after /
pəυst p&tʃs dvətazŋ/ noun ad-
postage /pəυstd/ noun payment vertising designed to minimise
for sending a letter or parcel by post 쑗 post-purchase anxiety
What is the postage for this airmail post-purchase anxiety /
pəυst
packet to China? 왍 ‘postage paid’ p&tʃs ŋzaəti/ noun feelings of
words printed on an envelope to show doubt about a purchase after it has been
that the sender has paid the postage even made
though there is no stamp on it post-purchase assessment
postal /pəυst(ə)l/ adjective referring /
pəυst p&tʃs əsesmənt/ noun the
to the post assessment of a product by the pur-
postal interview /
pəυst(ə)l chaser after it has been bought and used
ntəvju/ noun same as postal survey post room /pəυst rum/ noun a
postal order /pəυst(ə)l
ɔdə/ noun room in a building where the post is
a document bought at a post office, used sorted and sent to each department or
as a method of paying small amounts of collected from each department for
money by post sending
postal packet /pəυst(ə)l
pkt/ post-test /pəυst test/ noun an evalu-
noun a small container of goods sent by ation of an advertising campaign after it
post has taken place, or of a product after it
postal sales /pəυst(ə)l selz/ plural has been launched 쑗 The post-test
noun sales of products by post, through showed that an unnecessary amount of
advertisements in the press 쑗 The com- money had been spent.
pany carried out postal sales from a big post-testing /pəυst
testŋ/ noun
warehouse in the north. the evaluation of an advertising cam-
postal survey /
pəυst(ə)l s&ve/ paign after it has been run, or of a prod-
noun a survey in which questionnaires uct after it has been launched
are sent by post for respondents to fill in potential /pətenʃəl/ adjective possi-
and send back 쑗 Not enough consumers ble 왍 potential customers people who
responded to the postal survey. could be customers 왍 potential market
postcode /pəυstkəυd/ noun a series a market which could be exploited 왍 the
of numbers and letters which forms part product has potential sales of 100,000
of an address, indicating the street and units the product will possibly sell
the town in a way which can be read by 100,000 units 왍 she is a potential man-
a scanner (NOTE: the American equiva- aging director she is the sort of person
lent is ZIP code) who could become managing director 쐽
poster /pəυstə/ noun a large noun the possibility of becoming some-
eye-catching notice or advertisement thing 왍 a product with considerable
which is stuck up outdoors or placed sales potential a product which is likely
prominently inside a store to have very large sales 왍 to analyse the
potential demand 206 prepaid reply card

market potential to examine the mar- pre-emption /priempʃən/ noun

ket to see how large it possibly is getting an advantage by doing some-
‘…career prospects are excellent for someone thing quickly before anyone else
with growth potential’ [Australian Financial pre-empt selling /pri empt
selŋ/
Review]
noun the practice of selling television
‘…for sale: established general cleaning advertising time at a lower rate with the
business; has potential to be increased to over 1
million dollar turnover’ [Australian Financial proviso that another advertiser can take
Review] it over if the full rate is offered 쑗 As
we’re on a tight advertising budget
potential demand /pə
tenʃəl d- we’ll have to go for pre-empt selling.
mɑnd/ noun a situation where there is
no demand as yet for a product but there preferred position /pr
f&d pə-
is money to buy it 쑗 Though there is no zʃ(ə)n/ noun the place in a publication
interest in our product in Saudi Arabia where an advertiser asks for the adver-
as yet, there is considerable potential tisement to be put
demand. preferred position rate /pr
f&d
power /paυə/ noun the ability to con- pəzʃ(ə)n ret/ noun a higher rate
trol people or events charged for placing an advertisement in
the position requested
power brand /paυə brnd/ noun a
very powerful brand which covers sev- prelaunch /prilɔntʃ/ adjective be-
eral best-selling products and is known fore a launch
worldwide prelaunch period /prilɔntʃ
PR /piɑ/ abbr public relations 쑗 he
pəriəd/ noun the period before the
is working in PR 쑗 A PR firm is han- launch of a new product
dling all our publicity. 쑗 The PR people premium /primiəm/ noun 1. the
gave away 100,000 balloons. amount added to a normal price or rate
for a product or service 2. free gift of-
preapproach /priə
prəυtʃ/ noun fered to a prospective purchaser as an
the stage in a salesperson’s preparation
inducement to make a purchase
for a sale devoted to planning actual ‘…greenmail, the practice of buying back stock
meetings with customers 쑗 at a premium from an acquirer who threatens a
Preapproach sessions cover techniques takeover’ [Duns Business Month]
in assessing customers and their needs. ‘…responsibilities include the production of
precinct /prisŋkt/ noun a separate premium quality business reports’ [Times]
area premium offer /primiəm
ɒfə/
pre-coding /pri kəυdŋ/ noun the noun a free gift offered to attract more
process of assigning codes to items on customers
questionnaires in order to facilitate ref- premium pricing /primiəm
erence and evaluation 쑗 Much time was
prasŋ/ noun giving products or ser-
lost in the survey through a confusing vices high prices either to give the im-
pre-coding system. 쑗 Freelance inter- pression that the product is worth more
viewers should be given a complete ex- than it really is, or as a means of offer-
planation of the pre-coding of ing customers an extra service
questionnaires. prepack /pripk/, prepackage
predatory /predət(ə)ri/ adjective /pripkd/ verb to pack something
which tries to attack 왍 a predatory before putting it on sale 쑗 The fruit are
pricing policy a policy of reducing prepacked in plastic trays. 쑗 The
prices as low as possible to try to get watches are prepacked in attractive dis-
market share from weaker competitors play boxes.
pre-empt /priempt/ verb to get an prepaid /priped/ adjective paid in
advantage by doing something quickly advance
before anyone else 쑗 They staged a prepaid reply card /
priped r-
management buyout to pre-empt a take- pla kɑd/ noun a stamped addressed
over bid. card which is sent to someone so that
preparatory set 207 pressure group

they can reply without paying the press advertising /pres

postage
dvətazŋ/ noun advertising in news-
preparatory set /prprət(ə)ri set/ papers and magazines
noun the principle that people have pre- press clipping /pres
klpŋ/ noun
conceived ideas about brands which in- US a copy of a news item kept by a
fluence their buying decisions company because it contains important
prepay /pripe/ verb to pay in ad- business information or is a record of
vance (NOTE: prepaying – prepaid) news published about the company
prepayment /pripemənt/ noun a press communications /pres
payment in advance 왍 to ask for pre- kəmjun
keʃ(ə)nz/ plural noun com-
payment of a fee to ask for the fee to be munications which increase the aware-
paid before the work is done ness of journalists of a product or firm,
pre-press /pri pres/ adjective be- e.g. press releases or news flashes
fore going to press press conference /pres
pre-press work /pri pres w&k/
kɒnf(ə)rəns/ noun a meeting where
noun the work needed to change origi- newspaper and TV reporters are invited
nal copy and artwork into the form re- to hear news of something such as a new
quired for printing product a takeover bid
prequalification /
prikwɒlf- press cutting /pres
k tŋ/ noun a
keʃ(ə)n/ noun researching the value of piece cut out of a newspaper or maga-
a potential customer, especially one who zine which refers to an item which you
wants to take out a loan or a contractor find interesting such as a client or prod-
for a project uct 쑗 We have kept a file of press cut-
presence /prez(ə)ns/ noun a mea- tings about the new car.
surement of an advertisement’s real au-
dience as opposed to its potential press cutting agency /pres
k tŋ
audience 쑗 With an impressive presence
edənsi/ noun a company which cuts
our advertisement should have consid- out references to clients from newspa-
erable effect. pers and magazines and sends them on
to them
present /przent/ verb to give a talk
about or demonstration of something 쑗 press date /pres det/ noun the date
I’ve been asked to present at the sales on which a publication is printed
conference. 쑗 The HR director will press relations /pres rleʃ(ə)nz/
present the new staff structure to the plural noun part of the public relations
Board. activity of an organisation, aimed at
presentation /
prez(ə)nteʃ(ə)n/ building up good relations with the
noun 1. the showing of a document 왍 press 쑗 If the company image is to im-
cheque payable on presentation a prove we must first improve our press
cheque which will be paid when it is relations.
presented 왍 free admission on presen- press release /pres r
lis/ noun a
tation of this card you do not pay to go sheet giving news about something
in if you show this card 2. a demonstra- which is sent to newspapers and TV and
tion or exhibition of a proposed plan 쑗 radio stations so that they can use the in-
The distribution company gave a pre- formation 쑗 The company sent out a
sentation of the services they could of- press release about the launch of the
fer. 쑗 We have asked two PR firms to new car.
make presentations of proposed public-
ity campaigns. pressure /preʃə/ noun something
press /pres/ noun newspapers and which forces you to do something
magazines 쑗 We plan to give the prod- pressure group /preʃə "rup/ noun
uct a lot of press publicity. 쑗 There was a group of people who try to influence
no mention of the new product in the the government, the local town council
press. or some other organisation
prestige 208 price effect

prestige /presti/ noun 1. impor- to cut prices to reduce prices suddenly

tance because of factors such as high 왍 to lower prices or to reduce prices to
quality or high value 왍 prestige prod- make items cheaper 쐽 verb to give a
uct an expensive luxury product 왍 pres- price to a product 쑗 We have two used
tige offices expensive offices in a good cars for sale, both priced at £5,000. 왍
area of the town 2. status achieved be- competitively priced sold at a low price
cause of being successful, wealthy or which competes with that of similar
powerful goods from other companies 왍 the com-
prestige advertising /presti pany has priced itself out of the mar-

dvətazŋ/ noun advertising in ket the company has raised its prices so
high-quality magazines to increase a high that its products do not sell
‘…the average price per kilogram for this
company’s reputation season has been 300c’ [Australian Financial
prestige pricing /presti
prasŋ/ Review]
noun same as premium pricing ‘European manufacturers rely heavily on
imported raw materials which are mostly priced
pretax profit /pri
tks prɒft/ in dollars’ [Duns Business Month]
noun the amount of profit a company ‘…after years of relying on low wages for their
makes before taxes are deducted competitive edge, Spanish companies are
finding that rising costs and the strength of the
pretest /pritest/ noun evaluation of peseta are pricing them out of the market’
an advertising campaign before it is run [Wall Street Journal]
pre-testing /pri testŋ/ noun the price band /pras bnd/ noun a
testing or evaluation of a product or ad- method of grouping articles within a
vertising campaign before it is launched narrow range of prices
or run 쑗 Pre-testing has shown that the price ceiling /pras
silŋ/ noun the
product would do well in the country as highest price which can be reached
a whole. 쑗 The area chosen for
pre-testing may not be representative price competition /pras kɒmpə-
enough of the whole country.
tʃ(ə)n/ noun the attempt to compete in
a market through skilful pricing
preview /privju/ noun a showing of
a film, a television commercial or an ex- price controls /pras kən
trəυlz/
plural noun legal measures to prevent
hibition to a specially invited audience
before the general public sees it prices rising too fast
price cutting /pras
k tŋ/ noun a
price /pras/ noun 1. money which has sudden lowering of prices
to be paid to buy something 왍 competi- ‘…in today’s circumstances, price-cutting is
tive price a low price aimed to compete inevitable in an attempt to build up market
with a rival product 왍 to sell goods off share’ [Marketing Week]
at half price to sell goods at half the price differential /pras dfə-
price at which they were being sold be-
renʃəl/ noun the difference in price be-
fore 왍 cars in the £18–19,000 price tween products in a range
range cars of different makes, selling
price differentiation /pras
for between £18,000 and £19,000 왍
dfərenʃi
eʃ(ə)n/ noun a pricing strat-
price ex ship the price that includes all
egy in which a company sells the same
costs up to the arrival of the ship at port
product at different prices in different
왍 price ex warehouse the price for a
markets
product which is to be collected from
the manufacturer’s or agent’s warehouse price discrimination /pras
and so does not include delivery 2. 왍 to dskrm
neʃ(ə)n/ noun the practice of
increase in price to become more ex- charging different prices in different
pensive 쑗 Petrol has increased in price markets or to different types of cus-
or the price of petrol has increased. 왍 to tomer 쑗 Price discrimination has
increase prices or to raise prices to caused some ill-feeling among
make items more expensive 왍 we will customers.
try to meet your price we will try to of- price effect /pras 
fekt/ noun the
fer a price which is acceptable to you 왍 result of a change in price on a person’s
price elasticity 209 primary demand

buying habits 쑗 Before fixing the price, price-sensitive /
pras
senstv

we’ll have to carry out a survey to de- prɒd kt/ adjective referring to a prod-
termine the price effect. uct for which demand will change sig-
price elasticity /pras il
ststi/ nificantly if its price is increased or
noun a situation where a change in price decreased. Products show an increased
has the effect of causing a big change in demand if the price falls and reduced
demand demand if the price rises.
price escalation clause /
pras price tag /pras t"/ noun 1. a label
eskəleʃ(ə)n klɔz/ noun a clause in a attached to an item being sold that
contract that permits the seller to raise shows its price 2. the value of a person
prices if its costs increase or thing
price fixing /pras
fksŋ/ noun an price ticket /pras
tkt/ noun a
illegal agreement between companies to piece of paper showing a price
charge the same price for competing price war /pras wɔ/ noun a compe-
products tition between companies to get a larger
price-insensitive /
pras n- market share by cutting prices
sensətv/ adjective describing essen- pricing /prasŋ/ noun the giving of a
tial goods or services for which sales re- price to a product
main constant regardless of price pricing policy /prasŋ
pɒlisi/
price leadership /pras
lidəʃp/ noun a company’s policy in giving
noun a situation where the producers prices to its products 쑗 Our pricing pol-
model their prices on those of one lead- icy aims at producing a 35% gross
ing producer margin.
price level /pras
lev(ə)l/ noun the primacy /praməsi/ noun the fact of
average price of a particular product in a being in first place or being the most
country at a particular time important
price list /pras lst/ noun a sheet primacy effect theory /praməsi
giving prices of goods for sale fekt
θəri/ noun the theory that the
price maintenance /pras first information in a message is most

mentənəns/ noun an agreement be- likely to be remembered
tween producers or distributors on a primary /praməri/ adjective basic
minimum price for a product ‘…farmers are convinced that primary industry
no longer has the capacity to meet new capital
price-off label /pras ɒf
leb(ə)l/ taxes or charges on farm inputs’
noun a label on a product showing a re- [Australian Financial Review]
duced price primary brand /praməri brnd/
price pegging /pras
pe"ŋ/ noun noun a brand owned by a distributor
the practice of maintaining prices at a rather than by a producer. Compare pri-
specific level vate brand
price point /pras pɔnt/ noun the primary commodities /
praməri
exact price for a range of different prod- kəmɒdtiz/ plural noun raw materials
ucts which is psychologically important or food
for the customer, since if an article is primary data /
praməri detə/,
given a higher price it will discourage primary information /
praməri
sales 쑗 We must have a meeting to de- nfəmeʃ(ə)n/ noun data or informa-
termine price points for our products. tion which has not yet been published
price range /pras rend/ noun a and must therefore be found by field re-
series of prices for similar products search 쑗 The company’s market re-
from different suppliers search proved very expensive since it
price ring /pras rŋ/ noun a group of needed so much primary data.
producers or distributors who agree to primary demand /
praməri d-
control prices and market conditions in mɑnd/ noun demand for a product in
their industry general, as opposed to demand for a par-
primary industry 210 private means

ticular brand 쑗 The main producer com- print run /prnt r n/ noun the num-
panies are cooperating to create ber of copies of a publication or piece of
primary demand since this type of prod- advertising material which are printed 쑗
uct is quite new to the public. The company has ordered a print run of
primary industry /
praməri 100,000 for their new catalogue.
ndəstri/ noun an industry dealing with privacy /prvəsi/ noun a situation of
basic raw materials such as coal, wood not being disturbed by other people, es-
or farm produce pecially the knowledge that communi-
primary products /praməri cations are private and cannot be
prɒd ktz/ plural noun products which accessed by others
are basic raw materials, e.g. wood, milk private /pravət/ adjective belonging
or fish to a single person, not to a company or
prime /pram/ adjective most the state 왍 a letter marked ‘private
important and confidential’ a letter which must
not be opened by anyone other than the
prime cost /
pram kɒst/ noun the person it is addressed to
cost involved in producing a product, ‘…management had offered to take the
excluding overheads company private through a leveraged buyout for
prime rate /pram ret/ noun the $825 million’ [Fortune]
best rate of interest at which a bank private brand /pravət brnd/
lends to its customers noun a brand owned by a distributor
prime time /pram tam/ noun the rather than by a producer. Compare pri-
most expensive advertising time for TV mary brand
commercials 쑗 We are putting out a se- private enterprise /
pravət
ries of prime-time commercials. entəpraz/ noun businesses which are
principal /prnsp(ə)l/ noun a person owned privately, not nationalised 쑗 The
or company that is represented by an project is completely funded by private
agent 쑗 The agent has come to London enterprise.
to see his principals. 쐽 adjective most private label /pravət
leb(ə)l/
important 쑗 The principal shareholders noun a brand name which is owned by a
asked for a meeting. 쑗 The country’s store, rather than the producer
principal products are paper and wood.
쑗 The company’s principal asset is its
private label goods /pravət
design staff.
leb(ə)l "υdz/ plural noun goods with
‘…the company was set up with funds totalling
a brand name which is owned by the
NorKr 145m with the principal aim of making store, rather than the producer
capital gains on the secondhand market’ private limited company /
pravət
[Lloyd’s List]

lmtd k mp(ə)ni/ noun 1. a com-
print /prnt/ noun the action of mark- pany with a small number of sharehold-
ing letters or pictures on paper by a ma- ers, whose shares are not traded on the
chine, and so producing a book, leaflet, Stock Exchange (NOTE: shortened to
newspaper, etc. Ltd) 2. a subsidiary company whose
printed matter /prntd
mtə/ shares are not listed on the Stock Ex-
noun printed items, e.g. books, newspa- change, while those of its parent com-
pers and publicity sheets pany are
print farming /prnt
fɑmŋ/ noun privately /pravətli/ adverb away
organising the printing by outside print- from other people 쑗 The deal was nego-
ers of printed material required by an or- tiated privately.
ganisation, such as advertising leaflets, private means /
pravət minz/ plu-
catalogues, letterheads, etc. ral noun income from dividends, inter-
print media /
prntd midiə/ plural est or rent which is not part of
noun advertising media, e.g. magazines someone’s salary
and newspapers
private property 211 product advertising

private property /
pravət prɒpəti/ and wild cats; the singular is problem
noun property which belongs to a pri- child)
vate person, not to the public procurement /prəkjυəmənt/ noun
private sector /pravət
sektə/ the act of buying equipment or raw ma-
noun all companies which are owned by terials for a company 쑗 Procurement of
private shareholders, not by the state 쑗 raw materials is becoming very compli-
The expansion is completely funded by cated with the entry of so many new sup-
the private sector. 쑗 Salaries in the pri- pliers into the market.
vate sector have increased faster than in produce noun /prɒdjus/ foodstuffs
the public sector. grown on the land 쑗 home produce 쑗
‘…in the private sector the total number of new agricultural produce 쑗 farm produce 쐽
house starts was 3 per cent higher than in the verb /prədjus/ to make or manufac-
corresponding period last year, while public
sector starts were 23 per cent lower’
ture 쑗 the factory produces cars or
[Financial Times] engines
privatisation /
pravətazeʃ(ə)n/, producer /prədjusə/ noun a person,
company or country that manufactures
privatization noun the process of sell-
쑗 a country which is a producer of
ing a nationalised industry to private
high-quality watches 쑗 The company is
owners
a major car producer.
‘…even without privatization, water charges
would probably have to rise to pay for meeting producer market /prədjusə
EC water-quality rules’ [Economist]
mɑkt/ noun customers who buy
privatise /pravətaz/, privatize
goods to be used in production
verb to sell a nationalised industry to producer’s surplus /prə
djusəz
private owners s&pləs/ noun the amount by which the
actual price of a product is more than
probability /
prɒbəblti/ noun the the minimum which the producer would
likelihood that something will happen, accept for it 쑗 There is a considerable
expressed mathematically producer’s surplus because the product
probability sampling /
prɒbəblti is in short supply. 쑗 If our customer

sɑmplŋ/ noun the choosing of sam- knew the producer’s surplus she would
ples for testing without any special se- have offered much less than the asking
lection method price.
probable /prɒbəb(ə)l/ adjective product /prɒd kt/ noun 1. some-
likely to happen 쑗 They are trying to thing which is made or manufactured 2.
prevent the probable collapse of the a manufactured item for sale
company. 쑗 It is probable that the com- ‘…today new marketing is about new products
pany will collapse if a rescue package is based on consumer understanding and
technology’ [Marketing Week]
not organised before the end of the
‘…consistency of product is probably essential
month. for successful branding’ [Marketing Workshop]
probing /prəυbŋ/ noun an attempt ‘…any expansion or change in market share is
by an interviewer to get the interviewee most likely to come from the development and
to develop an answer 쑗 No amount of improvement of existing products’ [Marketing]
probing would induce the housewife to product abandonment /
prɒd kt
say why she did not like the new wash- əbndənmənt/ noun the stopping of
ing powder. production and selling of a product
problem children /prɒbləm product acceptance /
prɒd kt ək-

tʃldr(ə)n/ plural noun in the Boston septəns/ noun the degree to which a
matrix, products which are not very product is accepted by the market and so
profitable, and have a low market share sells well 쑗 We do not know what prod-
and a high growth rate 쑗 The problem uct acceptance will be in such an un-
children in our range make very little known market.
contribution to the company profits. product advertising /prɒd kt
(NOTE: also called question marks
dvətazŋ/ noun the advertising of a
product analysis 212 productive capital

particular named product, not the com- product idea /prɒd kt a
də/ noun
pany which makes it an idea for a totally new product or an
product analysis /
prɒd kt ə- adaptation of an existing one
nləss/ noun an examination of each product idea testing /
prɒd kt a-
separate product in a company’s range də
testŋ/ noun the evaluation of a
to find out why it sells, who buys it, etc. new product idea, usually by consulting
product assortment /
prɒd kt representatives from all main depart-
əsɔtmənt/ noun a collection of dif- ments in a company and interviewing a
ferent products for sale sample of consumers
product churning /prɒd kt product image /prɒd kt
md/

tʃ&nŋ/ noun the practice of putting noun the general idea which the public
many new products onto the market in has of a product 쑗 We need a huge pro-
the hope that one of them will become motional campaign to create the desired
successful (NOTE: Product churning is product image.
especially prevalent in Japan.) production /prəd kʃən/ noun the
product deletion /
prɒd kt making or manufacturing of goods for
dliʃ(ə)n/ noun the removal of old sale 쑗 Production will probably be held
products from the market as new ones up by industrial action. 쑗 We are hop-
are added to the company’s range 쑗 ing to speed up production by installing
Product deletion was caused by poor new machinery.
sales. 쑗 If production costs continue to production cost /prəd kʃən kɒst/
rise then product deletion will be the noun the cost of making a product
only answer. production department /prə-
product design /prɒd kt d
zan/ d kʃən d
pɑtmənt/ noun the section
noun the design of consumer products of a company which deals with the mak-
product development /
prɒd kt ing of the company’s products
dveləpmənt/ noun the process of im- production line /prəd kʃən lan/
proving an existing product line to meet noun a system of making a product,
the needs of the market. 쏡 new product where each item such as a car moves
development slowly through the factory with new
product development cycle sections added to it as it goes along 쑗
/
prɒd kt dveləpmənt
sak(ə)l/ He works on the production line. 쑗 She
noun the stages in the development of a is a production-line worker.
new product production manager /prəd kʃən
product differentiation /
prɒd kt
mndə/ noun the person in charge of
dfə
renʃieʃ(ə)n/ noun the process of the production department
ensuring that a product has some unique production standards /prə-
features that distinguish it from compet- d kʃən
stndədz/ plural noun the
ing ones 쑗 We are adding some extra quality of production
features to our watches in the interest of
product differentiation. production target /prəd kʃən

tɑ"t/ noun the amount of units a fac-
product endorsement /prɒd kt tory is expected to produce
n
dɔsmənt/, endorsement advertis-
ing /ndɔsmənt
dvətazŋ/ noun production unit /prəd kʃən
advertising which makes use of famous
junt/ noun a separate small group of
or qualified people to endorse a product workers producing a product
쑗 Which celebrities have agreed to con- productive /prəd ktv/ adjective
tribute to our endorsement advertising? which produces 왍 productive discus-
쑗 Product endorsement will, we hope, sions useful discussions which lead to
help our fund-raising campaign. an agreement or decision
product family /prɒd kt
fm(ə)li/ productive capital /prə
d ktv
noun a group of interrelated products kpt(ə)l/ noun capital which is in-
made by the same manufacturer vested to give interest
productivity 213 product recall

productivity /
prɒd ktvti/ noun executive responsible for the marketing

the rate of output per employee or per of a particular product 쑗 To co-ordinate
machine in a factory 쑗 Bonus payments the selling of our entire range we need
are linked to productivity. 쑗 The com- more consultation between product
pany is aiming to increase productivity. managers.
쑗 Productivity has fallen or risen since
product market /
prɒd kt mɑkt/
the company was taken over. noun a group of consumers for a prod-
‘…though there has been productivity growth,
the absolute productivity gap between many
uct which is different from other groups
British firms and their foreign rivals remains’ to which the product is also sold
[Sunday Times] product-market strategies plural
productivity agreement /
prɒd k- noun basic marketing strategies consist-
tvti ə
"rimənt/ noun an agreement ing of either market penetration, market
to pay a productivity bonus development, product development or
productivity bonus /
prɒd ktvti diversification

bəυnəs/ noun an extra payment made product mix /prɒd kt mks/ noun a
to employees because of increased pro- range of different products which a
duction per employee company has for sale
productivity drive /
prɒd ktvti product placement /prɒd kt
drav/ noun an extra effort to increase
plesmənt/ noun placing products as
productivity props on TV shows or in films as a form
product launch /prɒd kt lɔntʃ/ of advertising
noun the act of putting a new product on product-plus /prɒd kt pl s/ noun
the market features of a product which make it par-
product leader /
prɒd kt lidə/ ticularly attractive
noun the person who is responsible for product portfolio /
prɒd kt pɔt-
managing a product line fəυliəυ/ noun a collection of products
product liability /
prɒd kt laə- made by the same company
blti/ noun the liability of the maker of product portfolio analysis
a product for negligence in the design or /
prɒd kt pɔtfəυliəυ ə
nləss/
production of the product noun a model for a marketing strategy
product life cycle /
prɒd kt laf with various categories of product based

sak(ə)l/ noun stages in the life of a on present performance and growth rate,
product in terms of sales and profitabil- which can help a business to plan its
ity, from its launch to its decline 쑗 product development and strategy 쑗
Growth is the first stage in the product Product portfolio analysis showed that
life cycle. 쑗 The machine has reached a some products were neither performing
point in its product life cycle where we well nor showing any signs of increas-
should be thinking about a replacement ing their market share.
for it. 쏡 family product positioning /prɒd kt pə-
product line /prɒd kt lan/ noun a
zʃ(ə)nŋ/ noun the placing of a
series of different products which form product in the market so that it is recog-
a group, all made by the same company nisable to the public
쑗 We do not stock that line. 쑗 Com- product range /prɒd kt rend/
puters are not one of our best-selling noun 1. a series of products from which
lines. 쑗 They produce an interesting line the customer can choose 2. a series of
in garden tools. different products made by the same
product management /
prɒd kt company which form a group
mndmənt/ noun the process of di- product recall /
prɒd kt rikɔl/
recting the making and selling of a prod- noun the removal from sale of products
uct as an independent item that may constitute a risk to consumers
product manager /
prɒd kt because of contamination, sabotage or
mndə/ noun the manager or faults
product research 214 pro forma

product research /
prɒd kt r- loss account look healthier’ [Hongkong

Standard]
s&tʃ/ noun research carried out to ex-
amine various competing products in a profitability /
prɒftəblti/ noun 1.
market and the potential market for such the ability to make a profit 쑗 We doubt
products the profitability of the project. 2. the
product strategy /prɒd kt amount of profit made as a percentage

strtədi/ noun the various elements of costs
which a company has to take into ac- profitable /prɒftəb(ə)l/ adjective
count when developing a product, e.g. which makes a profit 쑗 She runs a very
price, design and availability profitable employment agency.
product testing /prɒd kt
testŋ/ profit and loss account (P&L ac-
noun the testing of a product by allow- count) /
prɒft ən lɒs ə
kaυnt/ noun
ing a sample of consumers to use it the accounts for a company showing ex-
without knowing which brand it is 쑗 penditure and income over a period of
Product testing showed that unfortu- time, usually one calendar year, bal-
nately consumers preferred two other anced to show a final profit or loss
brands to this one.
profit centre /prɒft
sentə/ noun 1.
profile /prəυfal/ noun a brief de- a person or department that is consid-
scription of the characteristics of some- ered separately for the purposes of cal-
thing or someone 쑗 They asked for a culating a profit 쑗 We count the kitchen
profile of the possible partners in the equipment division as a single profit
joint venture. 쑗 Her CV provided a pro- centre. 2. a person, unit, or department
file of her education and career to date. within an organisation that is considered
‘…the audience profile does vary greatly by
period: 41.6% of the adult audience is aged 16 to
separately when calculating profit
34 during the morning period, but this figure (NOTE: Profit centres have a certain
drops to 24% during peak viewing time’ amount of independence with regard
[Marketing Week] to marketing and pricing, and have re-
profit /prɒft/ noun money gained sponsibility for their own costs, reve-
from a sale which is more than the nues, and profits.)
money spent on making the item sold or profiteer /prɒftə/ noun a person
on providing the service offered 왍 who makes too much profit, especially
profit after tax profit after tax has been when goods are rationed or in short
paid 왍 to take your profit to sell shares supply
at a higher price than was paid for them,
and so realise the profit, rather than to profiteering /prɒftərŋ/ noun the
keep them as an investment 왍 to show a practice of making too much profit
profit to make a profit and state it in the profit-making /prɒft
mekŋ/
company accounts 쑗 We are showing a adjective which makes a profit 쑗 The
small profit for the first quarter. 왍 to whole project was expected to be
make a profit to have more money as a profit-making by 2001 but it still hasn’t
result of a deal 왍 to move into profit to broken even. 쑗 It is hoped to make it
start to make a profit 쑗 The company is into a profit-making concern.
breaking even now, and expects to move profit margin /prɒft
mɑdn/
into profit within the next two months. 왍 noun the percentage difference between
to sell at a profit to sell at a price which sales income and the cost of sales
gives you a profit 왍 healthy profit quite
a large profit profit maximisation /prɒft
‘…because capital gains are not taxed and
mksma
zeʃ(ə)n/ noun a business
money taken out in profits and dividends is strategy or policy based on achieving as
taxed, owners of businesses will be using high a profit as possible 쑗 The company
accountants and tax experts to find loopholes in considers profit maximization a socially
the law’ [Toronto Star]
irresponsible policy.
‘…the bank transferred $5 million to general
reserve compared with $10 million the previous pro forma /prəυ fɔmə/ noun a doc-
year which made the consolidated profit and ument issued before all relevant details
pro forma invoice 215 promotional tools

are known, usually followed by a final promotion /prəməυʃ(ə)n/ noun all

version means of conveying the message about
pro forma invoice /prəυ
fɔmə a product or service to potential custom-
nvɔs/, pro forma /prəυ fɔmə/ ers, e.g. publicity, a sales campaign, TV
noun an invoice sent to a buyer before commercials or free gifts 쑗 Our promo-
the goods are sent, so that payment can tion budget has been doubled. 쑗 The
be made or so that goods can be sent to a promotion team has put forward plans
consignee who is not the buyer 쑗 They for the launch. 쑗 We are offering free
sent us a pro forma invoice. 쑗 We only holidays in France as part of our spe-
supply that account on pro forma. cial in-store promotion.
‘…finding the right promotion to appeal to
progress report /prəυ"res r
pɔt/ children is no easy task’ [Marketing]
noun a document which describes what
‘…you have to study the profiles and people
progress has been made involved very carefully and tailor the promotion
project /prɒdekt/ noun 1. a plan 쑗 to fill those needs’ [Marketing Week]
He has drawn up a project for develop- promotional /prəməυʃ(ə)n(ə)l/ ad-
ing new markets in Europe. 2. a particu- jective used in an advertising campaign
lar job of work which follows a plan 쑗 쑗 The admen are using balloons as pro-
We are just completing an engineering motional material.
project in North Africa. 쑗 The company ‘…the simplest way to boost sales at the
will start work on the project next expense of regional newspapers is by a
month. heavyweight promotional campaign’
[Marketing Week]
project analysis /prɒdekt ə-

nləss/ noun the examination of all promotional allowance /prə-
the costs or problems of a project before
məυʃ(ə)n(ə)l əlaυəns/ noun a dis-
work on it is started count which is offered to a buyer in re-
turn for some promotional activity in
projected /prədektd/ adjective connection with the product sold
planned or expected 왍 projected sales a
forecast of sales 쑗 Projected sales in promotional budget /prə-
Europe next year should be over £1m.
məυʃ(ə)n(ə)l b dt/ noun a forecast
of the cost of promoting a new product
projection /prədekʃən/ noun a
forecast of something which will hap- promotional discount /prə-
pen in the future 쑗 Projection of profits
məυʃ(ə)n(ə)l dskaυnt/ noun a spe-
for the next three years. 쑗 The sales cial discount offered as part of the pro-
manager was asked to draw up sales motion for a product
projections for the next three years. promotional mix /prə
məυʃ(ə)n(ə)l
project management /
prɒdekt mks/ noun the combination of all the
mndmənt/ noun the coordination elements that make up a company’s pro-
of the financial, material, and human re- motion 쑗 Our promotional mix consists
sources needed to complete a project of an extended TV and radio advertising
and the organisation of the work that the campaign. 쑗 The exact promotional mix
project involves will depend on the costs of the various
project manager /
prɒdekt media available.
mndə/ noun the manager in charge promotional price /prə-
of a project məυʃ(ə)n(ə)l pras/ noun a reduced
promissory note /prɒmsəri
nəυt/ price offered in order to maximise sales
noun a document stating that someone (often when a product is launched)
promises to pay an amount of money on promotional products /prə-
a specific date məυʃ(ə)n(ə)l
prɒd kts/ plural noun
promote /prəməυt/ verb to advertise premium offers, gifts, prizes, etc.
왍 to promote a new product to in- promotional tools /prə-
crease the sales of a new product by a məυʃ(ə)n(ə)l tulz/ plural noun ma-
sales campaign, by TV commercials or terial used in promotion, e.g. display
free gifts, or by giving discounts material and sales literature 쑗 A draw
promotools 216 prospectus

for a free holiday on the exhibition stand is propensity to consume /prə-

one of the best promotional tools I know.
pensti tə kənsjum/ noun the ratio
쑗 The salesreps are armed with a full between consumers’ needs and their ex-
range of promotional tools. penditure on goods
promotools /prəυməυtulz/ plural propensity to import /prə
pensti
noun same as promotional tools (in- tə mpɔt/ noun the ratio between
formal )
. changes in the national income and
prompt /prɒmpt/ adjective rapid or changes in expenditure on imports
done immediately 쑗 We got very prompt propensity to invest /prə
pensti
service at the complaints desk. 쑗 Thank tə nvest/ noun the tendency of pro-
you for your prompt reply to my letter. 왍 ducers to invest in capital goods
prompt payment payment made rap-
idly 왍 prompt supplier a supplier who propensity to save /prə
pensti tə
delivers orders rapidly 쐽 noun informa- sev/ noun the tendency of consumers
tion or an idea offered to people to help to save instead of spending on consumer
them answer a question in a survey 쐽 goods
verb to give someone help in answering property developer /prɒpəti d-
a question 쑗 In order to avoid influenc-
veləpə/ noun a person who buys old
ing the answers, the interviewer must buildings or empty land and builds new
prompt the respondent only when it is buildings for sale or rent
really necessary. proprietary goods /prəpraət(ə)ri
‘…they keep shipping costs low and can take "υdz/ plural noun brands of a product
advantage of quantity discounts and other
allowances for prompt payment’ such as medicines that are owned by the
[Duns Business Month] company which makes them
prompted awareness test prospect /prɒspekt/ noun 1. 왍 pros-
/
prɒmptd əweənəs test/ noun a test pects for the market or market pros-
where the respondents are asked if they pects are worse than those of last year
know the named product sales in the market are likely to be lower
prompted recall /
prɒmptd than they were last year 2. a person who
rikɔl/ noun a test to see how well may become a customer 쑗 The
people can remember an advertisement salesforce were looking out for
in which the respondents are given some prospects.
help such as a picture which they might prospecting /prəspektŋ/ noun the
associate with the advertisement 쑗 After act of looking for new customers
a prompted recall test, the company and
its advertising agency decided to
prospective /prəspektv/ adjective
which may happen in the future 왍 a pro-
change the advertisement.
spective buyer someone who may buy
proof /pruf/ noun evidence which in the future 쑗 There is no shortage of
shows that something is true prospective buyers for the computer.
proof of purchase /
pruf əv prospects /prɒspekts/ plural noun
p&tʃs/ noun evidence, e.g. a sales the possibilities for the future
slip, to show that an article has been
purchased, used in order to claim some prospectus /prəspektəs/ noun a
benefit such as a free gift, or in order to document which gives information to
claim reimbursement attract buyers or customers 쑗 The res-
taurant has people handing out pro-
propaganda /
prɒpə"ndə/ noun spectuses in the street.
an attempt to spread an idea through
‘…when the prospectus emerges, existing
clever use of the media and other forms shareholders and any prospective new investors
of communication 쑗 The charity has can find out more by calling the free share
been criticised for spreading political information line; they will be sent a leaflet.
propaganda. Non-shareholders who register in this way will
receive a prospectus when it is published;
propensity /prəpensti/ noun a existing shareholders will be sent one
tendency automatically’ [Financial Times]
protectionism 217 publicity slogan

protectionism /prətekʃənz(ə)m/ publication /
p blkeʃ(ə)n/ noun 1.

noun the practice of protecting produc- the act of making something public by
ers in the home country against foreign publishing it 쑗 the publication of the
competitors by banning or taxing im- latest trade figures 2. a printed docu-
ports or by imposing import quotas ment which is to be sold or given to the
protest noun /prəυtest/ an official public 쑗 We asked the library for a list
document which proves that a bill of ex- of government publications.
change has not been paid 쐽 verb /prə- public image /
p blk md/ noun
test/ 왍 to protest a bill to draw up a an idea which the people have of a com-
document to prove that a bill of ex- pany or a person 쑗 The minister is try-
change has not been paid ing to improve her public image.
prototype /prəυtətap/ noun the publicise /p blsaz/, publicize
first model of a new product before it verb to attract people’s attention to a
goes into production 쑗 a prototype car product for sale, a service or an enter-
쑗 a prototype plane 쑗 The company is tainment 쑗 The campaign is intended to
showing the prototype of the new model publicise the services of the tourist
at the exhibition. board. 쑗 We are trying to publicise our
provisional /prəv(ə)n(ə)l/ adjec- products by advertisements on buses.
tive temporary or not final or permanent publicity /p blsti/ noun the process
쑗 The sales department has been asked of attracting the attention of the public
to make a provisional forecast of sales. to products or services by mentioning
쑗 The provisional budget has been them in the media
drawn up for each department. 쑗 They
faxed their provisional acceptance of publicity budget /p blsti
the contract.
b dt/ noun money allowed for ex-
penditure on publicity
prune /prun/ verb to reduce a product
range by deleting old products 쑗 The publicity copy /p blsti
kɒpi/
new marketing director insisted on noun the text of a proposed advertise-
pruning the product line to streamline ment before it is printed 쑗 She writes
the company’s functions. publicity copy for a travel firm.
psychogalvanometer /
sakəυ- publicity department /p blsti
"lvənɒmtə/ noun an instrument d
pɑtmənt/ noun the section of a
used to measure emotional reactions to company which organises the com-
advertising by checking the degree of pany’s publicity
sweating on the palms of the hands 쑗 publicity expenditure /p blsti
The results of the psychogalvanometer k
spendtʃə/ noun money spent on
test suggested that the ad was so dull it publicity
had no effect whatever on the public.
publicity handout /p blsti
psychographics /
sakəυ"rfks/
hndaυt/ noun an information sheet
noun the study of the life style of differ- which is given to members of the public
ent sectors of society for marketing pur-
poses 쑗 Psychographics can help define publicity manager /p blsti
the market segment we should be aiming
mndə/ noun the person in charge of
for with our product. (NOTE: takes a a publicity department
singular verb) publicity matter /p blsti
mtə/
psychographic segmentation /- noun sheets, posters or leaflets used for

sakəυ
"rfk
se"mənteʃ(ə)n/ publicity
noun the division of a market into seg- publicity slogan /p blsti
ments according to the lifestyles of the
sləυ"ən/ noun a group of words which
customers can be easily remembered and which is
public /p blk/ adjective referring to used in publicity for a product 쑗 We are
all the people in general 쐽 noun 왍 the using the slogan ‘Smiths can make it’ on
public or the general public the people all our publicity.
public limited company 218 purchase history

public limited company /
p blk trains, buses, etc., used by the general

lmtd k mp(ə)ni/ noun a company public
whose shares can be bought on the public warehouse /
p blk
Stock Exchange. Abbr Plc
weəhaυs/ noun a warehouse which
public opinion /
p blk əpnjən/ stores goods which are awaiting ship-
noun what people think about ment or which have just been landed
something
puff /p f/ noun a claim made for a
public relations /
p blk product or an organisation in order to
rleʃ(ə)nz/ plural noun building up promote it 쑗 The magazine article was
and keeping good relations between an supposed to be about telecommunica-
organisation and the public, or an or- tions, but was just a puff for a new
ganisation and its employees, so that modem.
people know and think well of what the
organisation is doing 쑗 She works in puffery /p fəri/ noun advertising
public relations. 쑗 A public relations which praises the product or service be-
firm handles all our publicity. Abbr PR ing sold in an exaggerated way, without
any specific factual data
public relations consultancy
/
p blk rleʃ(ə)nz kən
s ltənsi/ puff piece /p f pis/ noun a suppos-
noun a firm which advises on public edly objective newspaper or magazine
relations article about a product or service, which
public relations department reads as if it were written by an in-house
/
p blk rleʃ(ə)nz d
pɑtmənt/
publicity department and may in fact be
noun the section of a company which written by advertising people on behalf
deals with relations with the public. of a client
Abbr PR department pull-push strategy /
pυl pυʃ
public relations exercise /
p blk
strtədi/ noun a combination of both
rleʃ(ə)nz
eksəsaz/ noun a cam- pull and push strategies
paign to improve public relations pull strategy /pυl
strtədi/ noun
public relations officer /
p blk an attempt by a producer to use heavy
rleʃ(ə)nz
ɒfsə/ noun a person in an advertising to persuade final users to
organisation who is responsible for pub- buy a product, so ‘pulling’ the product
lic relations activities. Abbr PRO through the distribution channel to the
point of sale 쑗 We must develop a better
publics /p blks/ plural noun groups pull strategy to allow retailers to sell off
of people that are identified for market-
their excess stocks.
ing purposes 쑗 What publics is this
product likely to appeal to? 쑗 Different pump priming /p mp
pramŋ/
marketing messages need to be aimed at noun government investment in new
different publics. projects which it hopes will benefit the
public sector /p blk
sektə/ noun economy
nationalised industries and services 쑗 a purchase /p&tʃs/ noun a product or
report on wage rises in the public sector service which has been bought 왍 to
or on public-sector wage settlements make a purchase to buy something 쐽
public service advertising verb to buy 왍 to purchase something
/
p blk s&vs
dvətazŋ/ noun the for cash to pay cash for something
advertising of a public service or cause purchase book /p&tʃs bυk/ noun
such as famine relief a book in which purchases are recorded
public transport /
p blk purchase history /p&tʃs
trnspɔt/ noun transport which is
hst(ə)ri/ noun a record of purchases
used by any member of the public, e.g. which a customer has made in the past,
buses and trains or of sales made by a retail outlet, or of
public transport system /
p blk sales of a product over a specific period
trnspɔt
sstəm/ noun a system of
purchase ledger 219 pyramid selling

purchase ledger /p&tʃs
ledə/ tions available to buyers and sellers, and
noun a book in which expenditure is complete freedom for sellers to enter or
noted leave the market
purchase order /p&tʃs
ɔdə/ push /pυʃ/ noun the action of making
noun an official order made out by a something move forward 앳 push the
purchasing department for goods which envelope /
pυʃ ði envələυp/ to go be-
a company wants to buy 쑗 We cannot yond normal limits and try to do some-
supply you without a purchase order thing that is new and sometimes risky
number. push money /pυʃ
m ni/ noun cash
purchase price /p&tʃs pras/ given to a sales force to encourage them
noun a price paid for something to promote a product
purchaser /p&tʃsə/ noun a person push strategy /pυʃ
strtədi/
or company that purchases 쑗 The com- noun 1. an attempt by a manufacturer to
pany has found a purchaser for its push the product towards the customer
warehouse. 왍 the company is looking 2. an attempt by a producer to persuade
for a purchaser the company is trying distributors to take part in the marketing
to find someone who will buy it of a product, so ‘pushing’ it through the
purchase tax /p&tʃs tks/ noun a distribution channel
tax paid on things which are bought put down /
pυt daυn/ verb to make a
purchasing /p&tʃsŋ/ noun buying deposit 쑗 to put down money on a house
(NOTE: putting- put)
purchasing department
/p&tʃsŋ d
pɑtmənt/ noun the sec- put in /
pυt n/ verb 왍 to put an ad in
tion of a company which deals with the a paper to have an ad printed in a news-
buying of stock, raw materials, equip- paper 왍 to put in a bid for something
ment, etc. to offer to buy something, usually in
writing 왍 to put in an estimate for
purchasing manager /p&tʃsŋ something to give someone a written

mndə/ noun the head of a purchas-
calculation of the probable costs of car-
ing department
rying out a job 왍 to put in a claim for
purchasing officer /p&tʃsŋ damage to ask an insurance company to

ɒfsə/ noun a person in a company or pay for damage
organisation who is responsible for buy-
pyramid selling /prəmd
selŋ/
ing stock, raw materials, equipment, etc.
noun an illegal way of selling goods or
purchasing opportunity investments to the public, where each
/p&tʃsŋ ɒpə
tjunti/ noun a possi- selling agent pays for the franchise to
bility for a customer to make a purchase sell the product or service, and sells that
pure competition /
pjυə
kɒmp- right on to other agents together with
tʃ(ə)n/ noun a hypothetical model of a stock, so that in the end the person who
market where all products of a particular makes most money is the original fran-
type are identical, where there is com- chiser, and sub-agents or investors may
plete information about market condi- lose all their investments
quad crown 220 quasi-retailing

quad crown /kwɒd kraυn/ noun a quality label /kwɒlti
leb(ə)l/

poster size corresponding to twice a noun a label which states the quality of
double crown something
qualified prospects /
kwɒlfad quality press /kwɒlti pres/ noun
prɒspekts/ plural noun prospective newspapers aiming at the upper end of
customers who can make buying the market 쑗 We advertise in the quality
decisions press.
qualitative /kwɒltətv/ adjective quantitative /kwɒnttətv/ adjec-
referring to quality tive referring to quantity
‘…the collection of consumer behaviour data in
qualitative audit /
kwɒltətv the book covers both qualitative and quantitative
ɔdt/ noun examining an advertising techniques’ [Quarterly Review of Marketing]
agency’s work in planning and develop- quantitative data /
kwɒnttətv
ing a client’s advertising programme detə/ noun data gathered in quantita-
qualitative data /
kwɒltətv detə/ tive research
noun data found in qualitative research quantitative research
qualitative research /
kwɒltətv /
kwɒnttətv rs&tʃ/ noun research
rs&tʃ/ noun research based on finding based on measurable data gathered by
the opinions and attitudes of respon- sampling 쑗 Quantitative research will
dents rather than any scientifically mea- provide a firm basis for strategy
surable data 쑗 Qualitative research can decisions.
be used to ascertain consumers’ atti- quantity /kwɒntti/ noun 1. the
tudes to a new advertising campaign. 쑗 amount or number of items 쑗 a small
Qualitative research will not give objec- quantity of illegal drugs 쑗 She bought a
tive information. large quantity of spare parts. 2. a large
amount 쑗 The company offers a dis-
quality /kwɒlti/ noun what some- count for quantity purchase.
thing is like or how good or bad some-
thing is 쑗 The poor quality of the quantity discount /
kwɒntti
service led to many complaints. 쑗 There dskaυnt/ noun a discount given to
is a market for good-quality secondhand people who buy large quantities
computers. 왍 we sell only quality farm quantity purchase /kwɒntti
produce we sell only farm produce of
p&tʃs/ noun you pay 10% less if you
the best quality 왍 high quality or top buy a large quantity
quality of the very best quality 쑗 The quarterly /kwɔtəli/ noun a newspa-
store specialises in high-quality im- per or magazine which appears four
ported items. times a year 쑗 We’re advertising in a
quality control /kwɒlti kən
trəυl/ medical quarterly.
noun the process of making sure that the quasi- /kweza/ prefix almost or
quality of a product is good which seems like 쑗 a quasi-official
quality controller /kwɒlti kən- body

trəυlə/ noun a person who checks the quasi-retailing /
kweza ritelŋ/
quality of a product noun retailing relating to the provision
quay 221 quote

of services, as in restaurants or quota system /kwəυtə
sstəm/

hairdressers noun a system where imports or sup-
plies are regulated by fixed maximum
quay /ki/ noun the place in a port
amounts
where ships can tie up 왍 price ex quay
or price ex dock price of goods after quotation /kwəυteʃ(ə)n/ noun an
they have been unloaded, not including estimate of how much something will
transport from the harbour cost 쑗 They sent in their quotation for
the job. 쑗 Our quotation was much
question marks /kwestʃən mɑks/ lower than all the others. 쑗 We accepted
plural noun same as problem children the lowest quotation.
questionnaire /kwestʃəneə/ noun a quote /kwəυt/ verb 1. to repeat words
printed list of questions aiming at col- or a reference number used by someone
lecting data in an unbiased way, espe- else 쑗 He quoted figures from the an-
cially used in market research 쑗 We’ll nual report. 쑗 In reply please quote this
send out a questionnaire to test the number. 쑗 When making a complaint
opinions of users of the system. 쑗 We please quote the batch number printed
were asked to answer or to fill in a ques- on the box. 쑗 She replied, quoting the
tionnaire about holidays abroad. number of the account. 2. to estimate
quota /kwəυtə/ noun a limited what costs are likely to be 쑗 to quote a
amount of something which is allowed price for supplying stationery 쑗 He
quoted me a price of £1,026. 쑗 Can you
to be produced or imported, etc.
quote for supplying 20,000 envelopes?
‘Canada agreed to a new duty-free quota of
600,000 tonnes a year’ [Globe and Mail 쐽 noun an estimate of how much some-
(Toronto)] thing will cost (informal ) 쑗 to give
.

someone a quote for supplying comput-

quota sample /kwəυtə
sɑmpəl/ ers 쑗 We have asked for quotes for refit-
noun a sample which is preselected on ting the shop. 쑗 His quote was the
the basis of specific criteria so as best to lowest of three. 쑗 We accepted the low-
represent the group of people sampled 쑗 est quote.
The quota sample was used to represent ‘…banks operating on the foreign exchange
the various ethnic groupings in their market refrained from quoting forward
correct proportions. US/Hongkong dollar exchange rates’
[South China Morning Post]
rack 222 range

rack /rk/ noun a frame to hold items R&D abbr research and development
for display 쑗 a magazine rack 쑗 Put the random /rndəm/ adjective done
birthday-card display rack near the without making any special selection 왍
checkout. 쑗 We need a bigger display at random without special selection 쑗
rack for these magazines. The chairman picked out two sales re-
rack board /rk bɔd/ noun a board ports at random.
on which items can be displayed, show- random check /
rndəm tʃek/
ing the names and prices of products noun a check on items taken from a
rack jobber /rk
dɒbə/ noun a group without any special selection
wholesaler who sells goods by putting random error /
rndəm erə/ noun a
them on racks in retail shops computer error for which there is no
radio button /rediəυ
b t(ə)n/ special reason
noun a device on a computer screen that random fluctuation /
rndəm
can be used to select an option from a fl ktʃueʃ(ə)n/ noun unforeseeable
list deviation from an expected trend
rail /rel/ noun a railway system 쑗 Six random observation method
million commuters travel to work by rail /
rndəm ɒbzəveʃ(ə)n
meθəd/
each day. 쑗 We ship all our goods by noun same as activity sampling
rail. 쑗 Rail travellers are complaining random sample /
rndəm
about rising fares. 쑗 Rail travel is sɑmpəl/ noun a sample taken without
cheaper than air travel. 왍 free on rail any selection
(FOR) a price including all the seller’s
random sampling /
rndəm
costs until the goods are delivered to the
railway for shipment sɑmplŋ/ noun the choosing of sam-
ples for testing without any special
railhead /relhed/ noun the end of a selection
railway line 쑗 The goods will be sent to random walk /
rndəm wɔk/ noun
the railhead by lorry. a sampling technique which allows for
railway /relwe/ noun a system using random selection within specific limits
trains to carry passengers and goods 쑗 set up by a non-random technique
The local railway station has frequent range /rend/ noun 1. a series of
trains to London. 쑗 They are planning items from which the customer can
to close the railway line as it isn’t eco- choose 쑗 Their range of products or
nomic. 쑗 The country’s railway network product range is too narrow. 쑗 We offer
is being modernised. (NOTE: American a wide range of sizes or range of styles.
English is railroad) 2. a spread of sizes or amounts within
rake-off /rek ɒf/ noun a person’s fixed limits 쑗 We make shoes in a wide
share of profits from a deal, especially if range of prices. 3. a set of activities or
obtained illegally 쑗 The group gets a products of the same general type or va-
rake-off on all the company’s sales. 쑗 riety 쑗 This falls within the company’s
He got a £100,000 rake-off for introduc- range of activities. 쐽 verb to be within a
ing the new business. (NOTE: plural is group of sizes or amounts falling within
rake-offs) fixed limits 쑗 The company sells prod-
rapport 223 raw

ucts ranging from cheap downmarket rate of return /
ret əv rt&n/ noun
pens to imported luxury items. 쑗 The the amount of interest or dividend which
company’s salary scale ranges from comes from an investment, shown as a
£8,000 for a trainee to £150,000 for the percentage of the money invested
managing director. 쑗 Our activities rate of sales /
ret əv selz/ noun
range from mining in the USA to com- the speed at which units are sold
puter services in Scotland.
‘…the latest addition to the range features two rate of turnover /
ret əv t&nəυvə/
hotplates, a storage cupboard, a refrigerator and noun the length of time taken from the
a microwave oven’ [Sales & Marketing purchase of an item of stock to its re-
Management]
placement after being sold 쑗 The rate of
‘…the range has been extended to nine turnover is so low that some articles
products’ [Marketing Week]
have been in the shop for more than a
rapport /rpɔ/ noun good communi- year.
cation and understanding between two
people 쑗 The interviewer managed to rating /retŋ/ noun the act of giving
establish a good rapport with the inter- something a value or the value given
viewees. 쑗 Co-ordination is difficult ow- ratings /retŋz/ plural noun the esti-
ing to lack of rapport between the mated number of people who watch TV
marketing manager and the managing programmes 쑗 The show is high in the
director. ratings, which means it will attract good
rate /ret/ noun 1. money charged for publicity.
time worked or work completed 2. the ratings point /retŋz pɔnt/ noun
value of one currency against another 쑗 one percentage point of a TV audience
What is today’s rate or the current rate in a given area
for the dollar? 왍 to calculate costs on a
fixed exchange rate to calculate costs ratio /reʃiəυ/ noun a proportion or
on an exchange rate which does not quantity of something compared to
change 3. an amount, number or speed something else 쑗 the ratio of successes
compared with something else 쑗 the to failures 쑗 Our product outsells theirs
rate of increase in redundancies 쑗 The by a ratio of two to one.
rate of absenteeism or the absenteeism rational /rʃ(ə)n(ə)l/ adjective sensi-
rate always increases in fine weather. ble, based on reason
‘…state-owned banks cut their prime rate a
percentage point to 11%’ [Wall Street Journal] rational appeal /
rʃ(ə)n(ə)l əpil/
‘…the unions had argued that public sector pay noun advertising appeal to a prospective
rates had slipped behind rates applying in customer that uses logical arguments to
private sector employment’ [Australian show that the product satisfies the cus-
Financial Review] tomer’s practical needs (as opposed to
‘…royalties have been levied at a rate of 12.5% an emotional appeal)
of full production’ [Lloyd’s List]
‘…the minister is not happy that banks are rationalisation /
rʃ(ə)nəla-
paying low interest on current accounts of less zeʃ(ə)n/, rationalization noun the
than 10 per cent, but are charging rates of process of streamlining or making more
between 60 and 71 per cent on loans’ efficient
[Business in Africa]
rate card /ret kɑd/ noun a list of rationalise /rʃ(ə)nəlaz/, rational-
ize verb to streamline something or to
charges for advertising issued by a
newspaper or magazine make it more efficient 쑗 The rail com-
pany is trying to rationalize its freight
rate of exchange /ret əv/ noun services.
same as exchange rate
raw /rɔ/ adjective in the original state
rate of interest /
ret əv ntrəst/ or not processed
noun the percentage of the basic sum in-
‘…it makes sense for them to produce goods for
volved that a borrower has to pay a sale back home in the US from plants in Britain
lender for the use of his or her money or where raw materials are relatively cheap’
that is paid out to an investor [Duns Business Month]
raw data 224 real

raw data /rɔ detə/ noun data as it is the test, so we will just have to
put into a computer, without being readvertise.
analysed readvertisement /
riəd-
raw materials /rɔ mətəriəlz/ plu- v&tsmənt/ noun a second advertise-
ral noun basic materials which have to ment for a vacant post 쑗 The
be treated or processed in some way be- readvertisement attracted only two new
fore they can be used, e.g. wood, iron applicants.
ore or crude petroleum
ready /redi/ adjective 1. fit to be used
reach /ritʃ/ verb to get to an audience or to be sold 쑗 The order will be ready
쐽 noun the actual number of people for delivery next week. 쑗 The driver had
who will see an advertisement once (as to wait because the shipment was not
opposed to the frequency, which is the ready. 2. quick 왍 these items find a
number of times one person sees an ad- ready sale in the Middle East these
vertisement over a given period of time) items sell rapidly or easily in the Middle
쑗 The success of an advertisement de- East
pends on its reach.
ready cash /
redi kʃ/ noun money
readability /
ridəblti/ noun the which is immediately available for
fact of being easy to read (either copy payment
for an advertisement or the advertise-
ment itself) ready-made /
redi med/,
ready-to-wear /
redi təweə/ adjective
reader /ridə/ noun a person who referring to clothes which are
reads a newspaper or magazine mass-produced and not made for each
reader advertisement /ridər əd- customer personally 쑗 The

v&tsmənt/ noun an advertisement in ready-to-wear trade has suffered from
the form of editorial matter foreign competition.
reader loyalty /
ridə lɔəlti/ noun ready market /
redi mɑkt/ noun a
the inclination of a person to keep read- market with a high turnover of goods 쑗
ing and buying the same publication Distribution has to be good in such a
readership /ridəʃp/ noun all the ready market.
people who read a particular publication ready money /
redi m ni/ noun
쑗 Our readership has increased since cash or money which is immediately
we included more feature articles in the available
magazine. ready sale /
redi sel/ noun a sale
reader’s inquiry card /
ridəz n- that is easily achieved 쑗 Lengthy negoti-
kwaəri kɑd/, reader’s service card ations are a trial for salespeople used to
/
ridəz s&vs kɑd/ noun a card ready sales.
bound into a magazine which contains a real /rəl/ adjective 1. genuine and not
matrix of numbers and letters on which an imitation 쑗 His case is made of real
readers can mark codes for products leather or he has a real leather case. 쑗
they wish to have further information That car is a real bargain at £300. 2. (of
about. The card is returned to the pub- prices) shown in terms of money ad-
lisher, who gets the advertiser to send justed for inflation 왍 in real terms actu-
the relevant information to the reader. ally or really 쑗 Prices have gone up by
reading and noting /
ridŋ ən 3% but with inflation running at 5% that
nəυtŋ/ noun a research statistic show- is a fall in real terms.
ing the proportion of the readership of a ‘…real wages have been held down
publication who actually read a given dramatically: they have risen as an annual rate
advertisement of only 1% in the last two years’ [Sunday Times]

readvertise /ridvətaz/ verb to ‘…sterling M3 rose by 13.5% in the year to

August – seven percentage points faster than the
advertise again 왍 to readvertise a post rate of inflation and the biggest increase in real
to put in a second advertisement for a terms for years’ [Economist]
vacant post 쑗 All the candidates failed
real time credit card processing 225 recognise

‘Japan’s gross national product for the receipts /rsits/ plural noun money
April-June quarter dropped 0.4% in real terms
from the previous quarter’ [Nikkei Weekly]
taken in sales 쑗 to itemise receipts and
expenditure 쑗 Receipts are down
real time credit card processing against the same period of last year.
/
rəl tam kredt kɑd
prəυsesŋ/ ‘…the public sector borrowing requirement is
noun online checking of a credit card kept low by treating the receipts from selling
that either approves or rejects it for use public assets as a reduction in borrowing’
during a transaction [Economist]

real time transaction /
rəl tam recession /rseʃ(ə)n/ noun a fall in

trnzkʃən/ noun an Internet pay- trade or in the economy 쑗 The recession
ment transaction that is either approved has reduced profits in many companies.
or rejected immediately when the cus- 쑗 Several firms have closed factories
tomer completes the online order form because of the recession.
rebate /ribet/ noun 1. a reduction in recipient /rspiənt/ noun a person
the amount of money to be paid 쑗 We who receives something 쑗 She was the
are offering a 10% rebate on selected recipient of an allowance from the com-
goods. 2. money returned to someone pany. 쑗 He was the recipient of the
because they have paid too much 쑗 She award for salesperson of the year. 쑗 A
got a tax rebate at the end of the year. registered letter must be signed for by
rebating /ribetŋ/ noun the offering the recipient.
of a rebate reciprocal /rsprək(ə)l/ adjective
rebound /rbaυnd/ verb to go back done by one person, company or coun-
up again quickly 쑗 The market re- try to another one, which does the same
bounded on the news of the govern- thing in return 쑗 We signed a reciprocal
ment’s decision. agreement or a reciprocal contract with
a Russian company.
rebuy /riba/ noun the act of buying
a product again reciprocal holdings /r
sprək(ə)l
həυldŋz/ plural noun a situation
recall /rkɔl/ verb (of a manufac- where two companies own shares in
turer ) to ask for products to be returned
.
each other to prevent takeover bids
because of possible faults 쑗 They re-
called 10,000 washing machines be- reciprocal trade /r
sprək(ə)l
cause of a faulty electrical connection. tred/ noun trade between two
쐽 noun the ability to remember an countries
advertisement reciprocate /rsprəket/ verb to do
recall test /rikɔl test/ noun in ad- the same thing for someone as that per-
vertising, a research test that checks son has done to you 쑗 They offered us
how well someone can remember an ad- an exclusive agency for their cars and
vertisement 쑗 A disappointing number we reciprocated with an offer of the
of respondents in the recall test failed to agency for our buses.
remember the advertisement. ‘…in 1934 Congress authorized President
Roosevelt to seek lower tariffs with any country
receipt /rsit/ noun a piece of paper willing to reciprocate’ [Duns Business Month]
showing that money has been paid or
that something has been received 쑗 He recognise /rekə"naz/, recognize
kept the customs receipt to show that he verb 1. to know someone or something
had paid duty on the goods. 쑗 She lost because you have seen or heard them
her taxi receipt. 쑗 Keep the receipt for before 쑗 I recognised his voice before
items purchased in case you need to he said who he was. 쑗 Do you recognise
change them later. 쑗 Please produce the handwriting on the letter? 2. 왍 to
your receipt if you want to exchange recognise a union to accept that a union
items. can act on behalf of staff 쑗 Although
‘…gross wool receipts for the selling season to more than half the staff had joined the
end June appear likely to top $2 billion’ union, the management refused to rec-
[Australian Financial Review] ognise it.
recognised agent 226 re-export

recognised agent /
rekə"nazd recruit /rkrut/ verb 왍 to recruit

edənt/ noun an agent who is ap- new staff to look for new staff to join a
proved by the company for which they company 쑗 We are recruiting staff for
act our new store.
recognition /
rekə"nʃ(ə)n/ noun recruitment /rkrutmənt/, recruit-
the act of recognising something or ing /rkrutŋ/ noun 왍 the recruit-
somebody ment of new staff the process of
recognition test /
rekə"nʃ(ə)n looking for new staff to join a company
test/ noun a research test in advertising recruitment advertising /r-
that checks to see how well someone krutmənt
dvətazŋ/ noun the ad-
can remember an advertisement either vertising of jobs 쑗 A sudden need for la-
with or without prompting or aided bour has led to a huge demand for
recall recruitment advertising.
recommended retail price recycle /risak(ə)l/ verb to take
/
rekəmendd ritel pras/ noun the waste material and process it so that it
price at which a manufacturer suggests a can be used again
product should be sold on the retail mar-
recycled paper /ri
sak(ə)ld
ket, though this may be reduced by the
pepə/ noun paper made from waste
retailer. Abbr RRP
paper
record /rekɔd, rkɔd/ noun 1. a redeem /rdim/ verb to exchange a
description of what has happened in the
voucher, coupon or stamp for a gift or a
past 쑗 the salesperson’s record of ser-
reduction in price
vice or service record 쑗 the company’s
record in industrial relations 2. success redemption /rdempʃən/ noun the
which is better than anything before 왍 exchanging of vouchers, coupons or
we broke our record for June we sold stamps for a gift or a reduction in price
more than we have ever sold before in red goods /red "υdz/ plural noun
June 쑗 Sales last year equalled the re- fast-selling convenience goods, espe-
cord set in 1997. 쐽 verb /rkɔd/ to cially food items. Compare orange
note or to report 쑗 The company has re- goods, yellow goods
corded another year of increased sales.
쑗 Your complaint has been recorded reduced rate /r
djust ret/ noun a
and will be investigated. specially cheap charge
record-breaking /rekɔd
brekŋ/ reduction /rd kʃən/ noun making
adjective better or worse than anything something smaller or less 쑗 Reduction
which has happened before 쑗 We are in demand has led to the cancellation of
proud of our record-breaking profits in several new projects. 쑗 The company
2000. was forced to make job reductions. 쑗
The company was forced to make reduc-
recorded delivery /r
kɔdd d- tions in its advertising budget. 쑗 Price
lv(ə)ri/ noun a mail service where the reductions have had no effect on our
letters are signed for by the person re- sales. 쑗 We expect the new government
ceiving them 쑗 We sent the documents to introduce tax reductions. 쑗 The new
(by) recorded delivery. MD has proposed a series of staff
recording /rkɔdŋ/ noun the mak- reductions.
ing of a note 쑗 the recording of an order re-export noun /riekspɔt/ the ex-
or of a complaint porting of goods which have been im-
records /rekɔdz/ plural noun docu- ported 쑗 The port is a centre for the
ments which give information 쑗 The re-export trade. 쑗 We import wool for
names of customers are kept in the com- re-export. 쑗 The value of re-exports has
pany’s records. 쑗 We find from our re- increased. 쐽 verb /
riekspɔt/ to ex-
cords that our invoice number 1234 has port something which has been
not been paid. imported
re-exportation 227 regulation

re-exportation /
riekspɔteʃ(ə)n/ be used by other manufacturers 2. same

noun the exporting of goods which have as trademark
been imported registration /
redstreʃ(ə)n/ noun
refer /rf&/ verb 왍 the bank referred the act of having something noted on an
the cheque to drawer the bank returned official list 쑗 the registration of a trade-
the cheque to person who wrote it be- mark or of a share transaction
cause there was not enough money in registration fee /
re"streʃ(ə)n
the account to pay it fi/ noun 1. money paid to have some-
reference group /ref(ə)rəns thing registered 2. money paid to attend

"rup/ noun a group of people who a conference
share some interest or aim and are used registration number /
red-
by consumers as a model to be imitated streʃ(ə)n
n mbə/ noun an official
reference site /ref(ə)rəns sat/ number, e.g. the number of a car
noun a customer site where a new tech- regression analysis /r"reʃ(ə)n
nology is being used successfully ə
nləss/ noun a method of discover-
refund noun /rif nd/ money paid ing the ratio of one dependent variable
back 쑗 The shoes don’t fit – I’m going and one or more independent variables,
to ask for a refund. 쑗 She got a refund so as to give a value to the dependent
after complaining to the manager. 쐽 variable
verb /rf nd/ to pay back money 쑗 to regular /re"jυlə/ adjective ordinary
refund the cost of postage 쑗 All money or standard 쑗 The regular price is
will be refunded if the goods are not $1.25, but we are offering them at 99
satisfactory. cents.
refundable /rf ndəb(ə)l/ adjective regular customer /
re"jυlə
which can be paid back 쑗 We ask for a k stəmə/ noun a customer who always
refundable deposit of £20. 쑗 The en- buys from the same shop
trance fee is refundable if you purchase regular model /
re"jυlə mɒd(ə)l/
£5 worth of goods. noun the main product in a company’s
refusal /rfjuz(ə)l/ noun an act of product range 쑗 We estimate that 65%
saying no of the customers interested in our prod-
regiocentre stage /ridiəυsentə uct range will buy the regular model.

sted/ noun US the stage in a com- regular size /re"jυlə saz/ noun the
pany’s international marketing when a standard size (smaller than economy
region consisting of several countries is size or family size)
treated as one market regular staff /re"jυlə stɑf/ noun
registered /redstəd/ adjective the full-time staff
which has been noted on an official list regulate /re"jυlet/ verb 1. to adjust
쑗 a registered share transaction something so that it works well or is
registered design /
redstəd d- correct 2. to change or maintain some-
zan/ noun a design which is legally thing by law 왍 prices are regulated by
registered to protect the owner against supply and demand prices are in-
unauthorised use of it by others creased or lowered according to supply
and demand 왍 government-regulated
registered letter /
redstəd letə/, price a price which is imposed by the
registered parcel noun a letter or par- government
cel which is noted by the post office be-
fore it is sent, so that the sender can regulation /
re"jυleʃ(ə)n/ noun the
claim compensation if it is lost process of making sure that something
will work well or correctly 쑗 govern-
registered trademark /
redstəd ment regulation of trading practices
tredmɑk/ noun 1. a particular name, ‘…fear of audit regulation, as much as financial
design, etc. which has been registered pressures, is a major factor behind the increasing
by the manufacturer and which cannot number of small accountancy firms deciding to
regulations 228 remainder merchant

sell their practices or merge with another firm’ relationship /rleʃ(ə)nʃp/ noun a
[Accountancy]
link or connection
regulations /
re"jυleʃ(ə)nz/ plural relationship building /r-
noun laws or rules 쑗 the new govern- leʃ(ə)nʃp
bldŋ/ noun taking ac-
ment regulations on housing standards tions to develop a long-term relationship
쑗 Fire regulations or Safety regulations with the customer
were not observed at the restaurant. 쑗
Regulations concerning imports and ex- relationship management /r-
ports are set out in this leaflet. leʃ(ə)nʃp
mndmənt/ noun the
‘EC regulations which came into effect in July management of customers so as to build
insist that customers can buy cars anywhere in long-term relationships with them
the EC at the local pre-tax price’
[Financial Times] relationship marketing /r-
leʃ(ə)nʃp
mɑktŋ/ noun a
‘…a unit trust is established under the
regulations of the Department of Trade, with a long-term marketing strategy to build
trustee, a management company and a stock of relationships with individual customers
units’ [Investors Chronicle]
relative /relətv/ adjective compared
regulator /re"jυletə/ noun a person to something else
whose job it is to see that regulations are relative cost /
relətv kɒst/ noun
followed the relationship between the cost of ad-
‘…the regulators have sought to protect
investors and other market participants from vertising space and the size of the
the impact of a firm collapsing’ [Banking audience
Technology]
relaunch noun /rilɔntʃ/ the act of
reimport noun /rimpɔt/ the im- putting a product back on the market
porting of goods which have been ex- again, after adapting it to changing mar-
ported from the same country 쐽 verb ket conditions 쑗 The relaunch is sched-
/
rimpɔt/ to import goods which uled for August. 쐽 verb /rilɔntʃ/ to
have already been exported put a product on the market again 쑗 The
reimportation /
rimpɔteʃ(ə)n/ product will be relaunched with some
noun the importing of goods which have minor modifications next autumn.
already been exported release /rlis/ noun 1. the act of set-
reinforcement advertising /rin- ting free 쑗 release from a contract 쑗 the
fɔsmənt
dvətazŋ/ noun advertis- release of goods from customs 2. 왍 new
ing aimed at making the positive fea- release a new CD or a piece of software
tures of a product stronger in order to put on the market 쐽 verb to put on the
reassure people who have already pur- market 쑗 They released several new
chased it CDs this month. 왍 to release dues to
send off orders which had been piling
reject /ridekt/ noun something up while a product was out of stock
which has been thrown out because it is
‘…pressure to ease monetary policy mounted
not of the usual standard 쑗 sale of re- yesterday with the release of a set of pessimistic
jects or of reject items 쑗 to sell off reject economic statistics’ [Financial Times]
stock
‘…the national accounts for the March quarter
reject shop /ridekt ʃɒp/ noun a released by the Australian Bureau of Statistics
shop which specialises in the sale of showed a real increase in GDP’
rejects [Australian Financial Review]

relation /rleʃ(ə)n/ noun 왍 in rela- remainder /rmendə/ verb 왍 to re-

tion to referring to or connected with 쑗 mainder books to sell new books off
They asked to see all documents in rela- cheaply 쑗 The shop was full of piles of
tion to the agreement. remaindered books.
relational database /r
leʃ(ə)nl remainder merchant /rmendə
detəbes/ noun a computer database
m&tʃənt/ noun a book dealer who
in which different types of data are buys unsold new books from publishers
linked for analysis at a very low price
remainders 229 report

remainders /rmendəz/ plural noun der for something which has been
new books sold cheaply ordered before
reminder /rmandə/ noun a letter to repeat order /r
pit ɔdə/ noun a
remind a customer that they have not new order for something which has been
paid an invoice 쑗 to send someone a ordered before 쑗 The product has been
reminder on the market only ten days and we are
reminder advertising /rmandər already flooded with repeat orders.

dvətazŋ/ noun advertising de- repeat purchasing /r
pit
signed to remind consumers of a prod- p&tʃsŋ/ noun the purchasing of the
uct already advertised 쑗 Reminder same product a second time 쐽 verb the
advertising is particularly important in frequent buying of a low-priced item
a highly competitive market. that is for everyday use such as soap or
reminder line /rmandə lan/ noun bread
a little advertising gimmick, e.g. a give-
away pen with the company’s name on repertory grid technique
/
repət(ə)r "rd tek
nik/ noun a
it
market-research technique in which a
remnant /remnənt/ noun an odd test is first run to discover what the
piece of a large item such as, a carpet or respondents’ main criteria are in judging
fabric sold separately 쑗 a sale of rem- product brands. This is followed by
nants or a remnant sale another test in which the respondents
remnant space /remnənt spes/ evaluate brands on the basis of these
noun odd unsold advertising space, established criteria.
which is usually available at a discount reply /rpla/ noun an answer 쑗 the
render /rendə/ verb 왍 to render an company’s reply to the takeover bid 쑗
account to send in an account 쑗 Please There was no reply to my letter or to my
find enclosed payment per account phone call. 쑗 I am writing in reply to
rendered. your letter of the 24th. 쐽 verb to answer
rental list /rentl lst/ noun a mailing 쑗 We forgot to reply to the solicitor’s
list of names and addresses which can letter. 쑗 The company has replied to the
be rented takeover bid by offering the sharehold-
reorder /riɔdə/ noun a further order ers higher dividends. (NOTE: replies-
for something which has been ordered replying- replied)
before 쑗 The product has only been on reply coupon /rpla
kupɒn/ noun
the market ten days and we are already a form attached to a coupon ad which
getting reorders. 쐽 verb to place a new has to be filled in and returned to the
order for something 쑗 We must reorder advertiser
these items because stock is getting low. report /rpɔt/ noun 1. a statement de-
reorder level /riɔdə
lev(ə)l/ noun scribing what has happened or describ-
the minimum amount of stock of an ing a state of affairs 쑗 to make a report
item which must be reordered when or to present a report or to send in a re-
stock falls to this amount port on market opportunities in the Far
rep /rep/ noun same as representa- East 쑗 The accountants are drafting a
tive (informal ) 쑗 to hold a reps’ meet-
. report on salary scales. 쑗 The sales
ing 쑗 Our reps make on average six manager reads all the reports from the
calls a day. sales team. 쑗 The chairman has re-
repack /ripk/ verb to pack again ceived a report from the insurance com-
pany. 2. an official document from a
repacking /ripkŋ/ noun the act of government committee 쑗 The govern-
packing again
ment has issued a report on the credit
repeat /rpit/ verb 왍 to repeat an or- problems of exporters. 쐽 verb 1. to
der to order something again make a statement describing something
repeat business /r
pit bzns/ 쑗 The salesforce reported an increased
noun business which involves a new or- demand for the product. 쑗 He reported
reposition 230 researcher

the damage to the insurance company. sentative selection of our product range.
쑗 We asked the bank to report on his fi- 쑗 The sample chosen was not represen-
nancial status. 쑗 Each manager reports tative of the whole batch. 쐽 noun 1. a
on the progress made by the new re- company which works for another com-
cruits during their first six weeks in the pany, selling their goods 쑗 We have ap-
department. 2. 왍 to report to someone pointed Smith & Co our exclusive
to be responsible to or to be under some- representatives in Europe. 2. same as
one 쑗 She reports direct to the manag- sales representative
ing director. 쑗 The salesforce reports to
the sales director.
resale /risel/ noun the selling of
goods which have been bought 쑗 to pur-
‘…a draft report on changes in the international
monetary system’ [Wall Street Journal] chase something for resale 쑗 The con-
‘…responsibilities include the production of
tract forbids resale of the goods to the
premium quality business reports’ [Times] USA.
‘…the research director will manage a team of resale price maintenance /
risel
business analysts monitoring and reporting on pras
mentənəns/ noun a system
the latest development in retail distribution’
[Times]
where the price for an item is fixed by
the manufacturer and the retailer is not
‘…the successful candidate will report to the
area director for profit responsibility for sales of allowed to sell it at a lower price. Abbr
leading brands’ [Times] RPM
reposition /
ripəzʃ(ə)n/ verb to research /rs&tʃ/ noun the process
change the position of a product or com- of trying to find out facts or information
pany in the market 쐽 verb to study or try to find out infor-
‘…it is thought that the company will reposition mation about something 쑗 They are re-
the range in the mass market or relaunch it’ searching the market for their new
[Marketing Week] product.
repositioning /
ripəzʃ(ə)nŋ/ research and development
noun a change or adjustment to the posi- /r
s&tʃ ən dveləpmənt/ noun 1.
tion of a product in the market, or the scientific investigation which leads to
consumers’ idea of it, by changing its making new products or improving ex-
design or by different advertising 쑗 If isting products 쑗 The company spends
this spring’s promotional campaign millions on research and development.
doesn’t achieve a repositioning of the Abbr R&D 2. activities that are designed
product, sales will continue to fall. to produce new knowledge and ideas
repossess /
ripəzes/ verb to take and to develop ways in which these can
back an item which someone is buying be commercially exploited by a business
under a hire-purchase agreement, or a (NOTE: Research and development ac-
property which someone is buying un- tivities are often grouped together to
der a mortgage, because the purchaser form a separate division or department
cannot continue the payments within an organisation.)
represent /reprzent/ verb to work ‘…drug companies must make a massive
for a company, showing goods or ser- investment in research and development if they
are to ensure their future, according to a recently
vices to possible buyers 쑗 He represents published report’ [Marketing]
an American car firm in Europe. 쑗 Our
French distributor represents several research brief /rs&tʃ brif/ noun
other competing firms. the basic objectives and instructions
representation /
reprzenteʃ(ə)n/ concerning a market-research project
noun the act of selling goods for a com- research department /rs&tʃ d-
pany 쑗 We offered them exclusive rep-
pɑtmənt/ noun the section of a com-
resentation in Europe. 쑗 They have no pany which carries out research
representation in the USA. researcher /rs&tʃə/ noun a person
representative /reprzentətv/ ad- who carries out research 쑗 Government
jective which is an example of what all statistics are a useful source of informa-
others are like 쑗 We displayed a repre- tion for the desk researcher.
research unit 231 restraint of trade

research unit /rs&tʃ
junt/ noun vey 쑗 Some of the respondents’ answers
a separate small group of research were influenced by the way the ques-
workers tions were asked.
research worker /rs&tʃ
w&kə/ response /rspɒns/ noun a reply or
noun a person who works in a research reaction 쑗 There was no response to our
department mailing shot. 쑗 We got very little re-
resell /risel/ verb to sell something sponse to our complaints.
which has just been bought 쑗 The car ‘…forecasting consumer response is one
problem which will never be finally solved’
was sold in June and the buyer resold it [Marketing Week]
to an dealer two months later. (NOTE:
response booster /rspɒns
reselling- resold)

bustə/ noun anything that will help in-
reseller /riselə/ noun somebody in crease the response rate
the marketing chain who buys to sell to
response function /rspɒns
somebody else such as wholesalers, dis-
tributors, and retailers
f ŋkʃən/ noun a figure which repre-
sents the value of a particular quantity
reseller market /riselə
mɑkt/ of advertising impressions on a person
noun a market in which customers buy
products in order to resell them as response level /rspɒns ret/, re-
sponse rate noun the proportion of
wholesalers or retailers 쑗 Fewer and
fewer consumers are buying the prod- people approached in a survey who
uct, so prices are falling in the reseller agree to answer questions 쑗 The re-
market. sponse rate has been very
disappointing.
reserved market /r
z&vd mɑkt/,
restricted market /r
strktd
response marketing /rspɒns
mɑkt/ noun a market in which pro-
mɑktŋ/ noun in e-marketing, the
ducers agree not to sell more than a spe- process of managing responses or leads
cific amount in order to control from the time they are received through
competition to conversion to sale
reserve price /rz&v pras/ noun response mechanism /rspɒns
the lowest price which a seller will ac-
mekənz(ə)m/ noun a method of
cept, e.g. at an auction or when selling showing a response to an Internet adver-
securities through a broker 쑗 The paint- tisement, or the way in which a cus-
ing was withdrawn when it failed to tomer can reply to an advertisement or
reach its reserve price. direct mailshot, such as sending back a
coupon or a faxback sheet
resistance /rzstəns/ noun opposi-
tion felt or shown by people to some- response rate /rspɒns ret/ noun
thing 쑗 There was a lot of resistance the proportion of people who respond to
from the team to the new plan. 쑗 The a questionnaire or survey
chairman’s proposal met with strong re- re-sticker /ri stkə/ verb to put new
sistance from the banks. stickers on stock, e.g. when increasing
resources /rsɔsz/ plural noun 1. a the price
source of supply of something 왍 we are restock /ristɒk/ verb to order more
looking for a site with good water re- stock 쑗 to restock after the Christmas
sources a site with plenty of water sales
available 2. the money available for do- restocking /ristɒkŋ/ noun the or-
ing something 왍 the cost of the new dering of more stock
project is easily within our resources restraint /rstrent/ noun control
we have quite enough money to pay for restraint of trade /r
strent əv
the new project tred/ noun 1. a situation where em-
respond /rspɒnd/ verb to reply to a ployees are not allowed to use their
question knowledge in another company if they
respondent /rspɒndənt/ noun a change jobs 2. an attempt by companies
person who answers questions in a sur- to fix prices, create monopolies or re-
restrict 232 retention

duce competition, which could affect free retail cooperative /ritel kəυ-
trade
ɒp(ə)rətv/ noun an organisation
restrict /rstrkt/ verb to limit or to whose business is the buying and selling
impose controls on 쑗 to restrict credit 쑗 of goods that is run by a group of people
to restrict the flow of trade or to restrict who share the profits between them
imports 쑗 We are restricted to twenty (NOTE: Retail cooperatives were the
staff by the size of our offices. first offshoot of the cooperative move-
ment.)
restricted market noun same as re-
served market retail dealer /ritel
dilə/ noun a
restriction /rstrkʃən/ noun a limit person who sells to the general public
or control 쑗 import restrictions or re- retailer /ritelə/ noun a person who
strictions on imports 왍 to impose re- runs a retail business, selling goods di-
strictions on imports/credit to start rect to the public
limiting imports or credit 왍 to lift credit ‘…voucher schemes are very attractive from the
restrictions/import restrictions to al- retailers’ point of view’ [Marketing Week]
low credit to be given freely or imports retailer cooperative /ritelə kəυ-
to enter the country freely
ɒp(ə)rətv/ noun a group of retailers
restrictive /rstrktv/ adjective who buy together from suppliers so as to
which limits be able to enjoy quantity discounts
/r
strktv tred
prktsz/ plural retailing /ritelŋ/ noun the selling
noun an arrangement between compa- of full-price goods to the public 쑗 From
nies to fix prices or to share the market car retailing the company branched out
in order to restrict trade into car leasing.
résumé /rezjυme/ noun US a sum- retail management /
ritel
mary of a person’s life story with details mndmənt/ noun managing the re-
of education and work experience tail side of a business such as points of
(NOTE: British English is curriculum sale, stock control, and just-in-time
vitae) purchasing
retail /ritel/ noun the sale of small retail media /ritel
midiə/ noun
quantities of goods to the general public advertising media in retail outlets, e.g.
왍 the goods in stock have a retail ads on supermarket trolleys
value of £1m the value of the goods if
sold to the public is £1m, before dis- retail outlet /ritel
aυtlet/ noun a
counts and other factors are taken into shop which sells to the general public
account 쐽 adverb 왍 he sells retail and retail price /ritel
pras/ noun the
buys wholesale he buys goods in bulk price at which the retailer sells to the fi-
at a wholesale discount and sells in nal customer
small quantities to the public 쐽 verb 1. retail price(s) index /
ritel
왍 to retail goods to sell goods direct to prasz
ndeks/ noun an index which
the public 2. to sell for a price 왍 these shows how prices of consumer goods
items retail at/for £2.50 the retail price have increased or decreased over a pe-
of these items is £2.50 riod of time. Abbr RPI
‘…provisional figures show retail sales dropped
1.5% in January but wholesale prices released retail trade /ritel tred/ noun all
this week reveal a 1% increase last month’ people or businesses selling goods retail
[Marketing]
retail audit /ritel
ɔdt/ noun a retention /rtenʃən/ noun keeping
the loyalty of existing customers, as op-
market research method by which a re-
posed to acquisition, which is the action
search company regularly checks a sam-
of acquiring new customers (both can be
ple of retailers for unit sales and stock
aims of advertising campaigns)
levels of different brands 쑗 Since sub-
‘…a systematic approach to human resource
scribing to the retail audit we’ve been planning can play a significant part in reducing
able to compare our performance with recruitment and retention problems’
that of our competitors. [Personnel Management]
retrenchment 233 risk-free

retrenchment /rtrentʃmənt/ noun revocable /revəkəbl/ adjective

a reduction of expenditure or of new which can be revoked
plans 쑗 The company is in for a period revocable letter of credit /-
of retrenchment.
revəkəb(ə)l
letər əv kredt/ noun a
return /rt&n/ noun 1. the act of letter of credit that can be cancelled
sending something back 왍 he replied by revoke /rvəυk/ verb to cancel 쑗 to
return of post he replied by the next revoke a decision or a clause in an
post service back 2. the filling in of an agreement 쑗 The quota on luxury items
official form 쐽 verb to send back 쑗 to has been revoked.
return unsold stock to the wholesaler 쑗
to return a letter to sender revolving credit /r
vɒlvŋ kredt/
‘Section 363 of the Companies Act 1985 noun a system where someone can bor-
requires companies to deliver an annual return row money at any time up to an agreed
to the Companies Registration Office. Failure to amount, and continue to borrow while
do so before the end of the period of 28 days still paying off the original loan
after the company’s return date could lead to
directors and other officers in default being risk /rsk/ noun 1. possible harm or a
fined up to £2000’ [Accountancy] chance of danger 왍 to run a risk to be
returnable /rt&nəb(ə)l/ adjective likely to suffer harm 왍 to take a risk to
which can be returned 쑗 These bottles do something which may make you lose
are not returnable. money or suffer harm 2. 왍 at owner’s
risk a situation where goods shipped or
return address /rt&n ə
dres/ noun stored are insured by the owner, not by
the address to which you send back the transport company or the storage
something company 쑗 Goods left here are at
returns /rt&nz/ plural noun unsold owner’s risk. 쑗 The shipment was sent
goods, especially books, newspapers or at owner’s risk. 3. loss or damage
magazines, sent back to the supplier against which you are insured 4. 왍 he is
revenue /revənju/ noun money re- a good/bad risk it is not likely or it is
ceived 쑗 revenue from advertising or very likely that the insurance company
advertising revenue 쑗 Oil revenues will have to pay out against claims
have risen with the rise in the dollar. where he is concerned
‘…remember, risk isn’t volatility. Risk is the
revenue accounts /revənju ə- chance that a company’s earnings power will

kaυnts/ plural noun accounts of a busi- erode – either because of a change in the
ness which record money received as industry or a change in the business that will
sales, commission, etc. make the company significantly less profitable
in the long term’ [Fortune]
reverse /rv&s/ adjective opposite or
in the opposite direction risk analysis /rsk ə
nləss/ noun
‘…the trade balance sank $17 billion, reversing analysis of how much can be lost and
last fall’s brief improvement’ [Fortune] gained through various marketing strate-
reverse engineering /r
v&s gies 쑗 After protracted risk analysis a
endnərŋ/ noun the taking apart of a very ambitious strategy was adopted. 쑗
product in order to find out how it was Our risk analysis must concentrate on
put together (NOTE: Reverse engineer- competitor activity.
ing can help a company redesign a risk-averse /
rsk əv&s/ adjective
product, but it can also enable compet- not wanting to take risks
itors to analyse how their rivals’ prod- risk-free /
rsk fri/ adjective with no
ucts are made.) risk involved 쑗 a risk-free investment
reverse takeover /r
v&s ‘…there is no risk-free way of taking regular
tekəυvə/ noun a takeover where the income from your money higher than the rate of
inflation and still preserving its value’
company which has been taken over [Guardian]
ends up owning the company which has
‘…many small investors have also preferred to
taken it over. The acquiring company’s put their spare cash with risk-free investments
shareholders give up their shares in ex- such as building societies rather than take
change for shares in the target company. chances on the stock market. The returns on a
risky 234 royalty

host of risk-free investments have been well into the market by launching it in different
double figures’ [Money Observer] areas over a period
risky /rski/ adjective dangerous or rolling plan /
rəυlŋ pln/ noun a
which may cause harm 쑗 We lost all our plan which runs for a period of time and
money in some risky ventures in South is updated regularly for the same period
America.
‘…while the bank has scaled back some of its
roll out /rəυl aυt/ verb to extend a
more risky trading operations, it has retained its company’s marketing of a product from
status as a top-rate advisory house’ [Times] its original test marketing area to the
rival /rav(ə)l/ noun a person or com- whole country
‘…the company is expected to make a decision
pany that competes in the same market in the new year on whether to roll out the name
쑗 a rival company 쑗 to undercut a rival through its electrical division’ [Marketing
rival brand /
rav(ə)l brnd/, rival Week]
product /
rav(ə)l prɒd kt/ noun a rollout /rəυlaυt/ noun 1. extending
brand or product that is competing for the marketing of a product from the
sales with another brand or product 쑗 original test marketing area to the whole
We are analysing the rival brands on country 2. same as rolling launch
the market. roll over /
rəυl əυvə/ verb 왍 to roll
road /rəυd/ noun a way used by cars, over credit to make credit available
lorries, etc. to move from one place to over a continuing period 왍 to roll over a
another 쑗 to send or to ship goods by debt to allow a debt to stand after the re-
road 쑗 The main office is in London payment date
Road. 쑗 Use the Park Road entrance to ‘…at the IMF in Washington, officials are
get to the buying department. (NOTE: in worried that Japanese and US banks might
decline to roll over the principal of loans made
addresses, Road is usually shortened in the 1980s to Southeast Asian and other
to Rd) 왍 on the road travelling 쑗 The developing countries’
salesforce is on the road thirty weeks a [Far Eastern Economic Review]
year. 쑗 We have twenty salesmen on the RON abbr run of network
road. ROP abbr run of paper
road haulage /rəυd hɔld/ noun ROS abbr 1. run of site 2. run of
the moving of goods by road station
road haulage depot /rəυd hɔld rough /r f/ noun the outline plan of an

depəυ/ noun a centre for goods which illustration for an advertisement 쑗 The
are being moved by road, and the lorries agency sent the rough to the advertisers
which carry them for approval. 쑗 The advertising depart-
road haulier /rəυd hɔliə/ noun a ment will consider the rough carefully
company which transports goods by before telling the agency to go ahead
road and run the advertisement.
ROB abbr run of book rough out /
r f aυt/ verb to make a
rock bottom /rɒk bɒtəm/ noun 왍 draft or a general design 쑗 The finance
sales have reached rock bottom sales director roughed out a plan of
have reached the lowest point possible investment.
‘…investment companies took the view that ROW abbr run of week
secondhand prices had reached rock bottom and
that levels could only go up’ [Lloyd’s List] royalties /rɔəltiz/ plural noun a pro-
portion of the income from the sales of a
rocket /rɒkt/ verb to rise fast 쑗 In- product such as a new invention, a book,
vestors are rushing to cash in on rocket- or a piece of music that is paid to its
ing share prices. 쑗 Prices have rocketed creator
on the commodity markets.
royalty /rɔəlti/ noun money paid to
rolling /rəυlŋ/ adjective continuing an inventor, writer or the owner of land
with no break for the right to use their property, usu-
rolling launch /
rəυlŋ lɔntʃ/ noun ally a specific percentage of sales, or a
a gradual launch of a new product onto specific amount per sale 쑗 The country
RPI 235 run-on

will benefit from rising oil royalties. 쑗 tiser’s order to the advertising depart-
He is still receiving substantial royalties ment of a publication that buys
from his invention. advertising space at the basic rate and
RPI abbr retail price(s) index does not specify the position of the ad-
RPM abbr resale price maintenance vertisement in the publication. Abbr
ROB, ROP
RRP abbr recommended retail price
run /r n/ noun to manage or to run of network /
r n əv netw&k/
noun banner advertising that runs across
organise 왍 a cheque run a series of
cheques processed through a computer a network of websites. Abbr RON
‘…business is booming for airlines on the run of site /
r n əv sat/ noun ban-
London to Manchester run’ [Business Traveller] ner advertising that runs on one single
‘…applications for mortgages are running at a website. Abbr ROS
high level’ [Times]
‘…with interest rates running well above run of station /
r n əv steʃ(ə)n/
inflation, investors want something that offers a noun TV advertising for which a partic-
return for their money’ [Business Week] ular time period has not been requested.
run down /
r n daυn/ verb 1. to re- Abbr ROS
duce a quantity gradually 쑗 We decided run of week /
r n əv wik/ noun an
to run down stocks or to let stocks run advertiser’s order to the advertising de-
down at the end of the financial year. 2. partment of a publication that buys ad-
to slow down the business activities of a vertising space at the basic rate and does
company before it is going to be closed not specify the issue it will appear in.
쑗 The company is being run down. Abbr ROW
(NOTE: running- ran- has run)
run-on /r n ɒn/ noun copies of a pub-
running total /
r nŋ təυt(ə)l/ noun lication printed in addition to the origi-
the total carried from one column of fig- nal print order, as in the case of a leaflet
ures to the next whose setting-up costs have been cov-
run of book /
r n əv bυk/, run of ered. More copies of it can be printed at
paper /
r n əv pepə/ noun an adver- a relatively cheap unit cost.
sachet 236 sales aids

sachet /sʃe/ noun a small package have taken 4,000 items on sale or
or envelope containing a product in the return. 2. an act of selling goods at spe-
form of liquid or powder 쑗 If you are cially low prices 쑗 The shop is having a
travelling, buy sachets of shampoo. 쑗 sale to clear old stock. 쑗 The sale price
The magazine came with a free sachet of is 50% of the normal price.
skin cream attached. 쑗 Sachets of coffee ‘…many on Wall Street are suspicious of the
powder were provided. recent sales and production gains posted by
American Industry’ [Management Today]
sack /sk/ noun a large bag made of ‘…the latest car sales for April show a 1.8 per
strong cloth or plastic 쑗 a sack of pota- cent dip from last year’s total’
toes 쑗 We sell onions by the sack. [Investors Chronicle]
salability /
seləblti/ noun another saleability /
seləblti/, salability
spelling of saleability noun a quality in an item which makes it
salable /seləb(ə)l/ adjective another easy to sell
spelling of saleable saleable /seləb(ə)l/, salable adjec-
salary cheque /sləri tʃek/ noun a tive which can easily be sold 쑗 The
monthly cheque by which an employee company is not readily saleable in its
is paid present state.
salary package /sləri
pkd/ sale and lease-back /sel ən lis/
noun same as pay package noun the sale of an asset, usually a
building, to somebody else who then
salary structure /sləri
str ktʃə/ leases it back to the original owner
noun the organisation of salaries in a
saleroom /selrum/ noun a room
company with different rates of pay for
where an auction takes place
different types of job
sales /selz/ plural noun 왍 the sales
sale /sel/ noun 1. an act of giving an period when major stores sell many
item or doing a service in exchange for items at specially low prices 쑗 I bought
money, or for the promise that money this in the sales or at the sales or in the
will be paid 왍 for sale ready to be sold 왍 January sales.
to offer something for sale or to put
something up for sale to announce that sales agent /selz
edənt/ noun
something is ready to be sold 쑗 They put a person who sells for a business or
the factory up for sale. 쑗 His shop is for another person and earns a commis-
sale. 쑗 These items are not for sale to sion 쑗 How many sales agents do
the general public. 왍 sale as seen a sale we have in this area? 쑗 She’s a
with no guarantee of quality 쑗 If the competent sales agent representing
equipment is for sale as seen, we shall several non-competing companies.
have no comeback if it breaks down. 왍 sales aids /selz edz/ plural noun
sale by description a sale on condition various tools used for selling, e.g. sam-
that the goods match the description of ples, display cases and sales literature 쑗
them given by the seller 왍 sale or re- The sales manager gave a talk on new
turn a system where the retailer sends sales aids which had just become avail-
goods back if they are not sold, and pays able. 쑗 An exhibition of sales aids was
the supplier only for goods sold 쑗 We held at the sales conference.
sales analysis 237 sales ledger clerk

sales analysis /selz ə
nləss/ sales department /selz d-

noun an examination of the reports of
pɑtmənt/ noun the section of a com-
sales to see why items have or have not pany which deals in selling the com-
sold well pany’s products or services
sales appeal /selz ə
pil/ noun a sales director /selz da
rektə/
quality in a product which makes cus- noun a director who is responsible for
tomers want to buy it an organisation’s sales
sales assistant /selz ə
sstənt/ sales drive /selz drav/ noun a vig-
noun a junior person who sells goods in orous effort to increase sales
a retail shop
sales audit /selz
ɔdt/ noun an sales executive /selz "
zekjυtv/
analysis of a company’s sales in terms noun a person in a company or depart-
of such factors as product, revenue and ment in charge of sales
area sales force /selz fɔs/ noun a group
sales book /selz bυk/ noun a re- of sales staff
cord of sales sales forecast /selz
fɔkɑst/
sales budget /selz
b dt/ noun a noun an estimate of future sales
plan of probable sales
salesgirl /selz"&l/ noun a young
sales call /selz kɔl/ noun a visit by woman who sells goods to customers in
a salesperson to a prospective customer a store
in order to make a sale 쑗 How many
sales calls does the manager expect us sales incentive /selz n
sentv/
to make each day? 쑗 She kept reports noun something offered to encourage
on all her sales calls. higher sales, e.g. paying the salespeople
a higher commission or bonuses, or giv-
sales campaign /selz km
pen/ ing them prizes such as holidays for in-
noun a series of planned activities to
creased sales
achieve higher sales
sales channel /selz
tʃn(ə)l/ sales interview /selz
ntəvju/
noun any means by which products can noun a meeting between a salesperson
be brought into the marketplace and of- and a prospective customer in which the
fered for sale, either directly to the cus- customer obtains all information about a
tomer or indirectly through retailers or product necessary for them to be able to
dealers make a buying decision 쑗 At the begin-
ning of the sales interview, the salesper-
sales chart /selz tʃɑt/ noun a dia- son established exactly what the
gram showing how sales vary from prospective customer’s needs were.
month to month
sales clerk /selz klɑk/ noun US a saleslady /selzledi/ noun a woman
person who sells goods to customers in who sells goods to customers in a store
a store (NOTE: plural is salesladies)
‘…the wage agreement includes sales clerks and sales lead /selz lid/ noun a piece
commission sales people in stores in Toronto’
[Toronto Star]
of information about a potential cus-
tomer which may lead to a sale 쑗 It has
sales contest /selz
kɒntest/ noun been difficult approaching this territory
an incentive scheme that rewards the with no sales leads to follow up. 쑗 I was
salesperson who has the best results given some useful sales leads by the
sales contract /selz
kɒntrkt/ sales rep who used to operate here.
noun a contract between a buyer and a
seller, whereby the buyer agrees to pay sales ledger /selz
ledə/ noun a
money to the seller in return for goods 쑗 book in which sales to each customer
The sales contract was signed after are entered
lengthy negotiations over price and de- sales ledger clerk /selz ledə
livery. 쑗 The sales contract commits us
klɑk/ noun an office worker who deals
to the purchase. with the sales ledger
sales letter 238 sales statistics

sales letter /selz
letə/ noun a letter sales promotion /selz prə-
sent to prospective customers, espe-
məυʃ(ə)n/ noun promotional and sales
cially as part of a direct-mail operation techniques aimed at short-term increases
sales literature /selz
lt(ə)rətʃə/ in sales, e.g. free gifts, competitions and
noun printed information which help price discounts 쑗 We need some good
sales, e.g. leaflets or prospectuses sales promotion to complement our ad-
vertising campaign. 쑗 Let’s hope this
salesman /selzmən/ noun 1. a man sales promotion will help us sell off our
who sells an organisation’s products or stock.
services to customers 쑗 He is the head ‘…the novelty in the £1m sales promotion is
salesman in the carpet department. 쑗 that the consumer will know immediately if he
His only experience is as a used-car or she has won a bottle of champagne’
salesman. 2. a man who represents a [Marketing Week]
company, selling its products or services sales promotion agency /selz
to retail shops 쑗 We have six salesmen prə
məυʃ(ə)n
edənsi/ noun an
calling on accounts in central London. agency that specialises in the planning
(NOTE: plural is salesmen) of promotions such as games, premium
sales manager /selz
mndə/ offers, and other incentives
noun a person in charge of a sales sales promotion trap /selz prə-
department
məυʃ(ə)n trp/ noun a problem that
occurs when a number of competing
salesmanship /selzmənʃp/ noun firms use promotions, with the result
the art of selling or of persuading cus- that there is no advantage to any of them
tomers to buy
sales quota /selz
kwəυtə/ noun a
sales network /selz
netw&k/ sales target given to salespeople which
noun the network of retailers, distribu- is based on either unit sales or revenue
tors, and agents who all contribute to 쑗 The sales manager intends to intro-
selling a product duce sales quotas, in order to put extra
sales office /selz
ɒfs/ noun a lo- pressure on the sales force.
cal office of a large organisation, which sales representative /selz repr-
deals only with sales
zentətv/, sales rep /selz rep/ noun
sales outlet /selz
aυtlet/ noun a a person who sells an organisation’s
shop which sells to the general public products or services 쑗 We have six sales
representatives in Europe. 쑗 They have
salesperson /selz
p&s(ə)n/ noun vacancies for sales representatives to
1. a person who sells goods or services
call on accounts in the north of the
to members of the public 2. a person country.
who sells products or services to retail
shops on behalf of a company (NOTE: sales resistance /selz r
zstəns/
plural is salespeople) noun a lack of willingness by the public
to buy a product
sales pitch /selz ptʃ/ noun a talk
by a salesperson to persuade someone to sales response /selz r
spɒns/
buy noun the degree to which customers buy
a product in response to the promotion
sales plan /selz pln/ noun a plan of it 쑗 There was a very poor sales re-
that sets out the future aims of a sales sponse to the advertising campaign. 쑗
department and shows ways in which it Although the product was not spectacu-
can improve its performance and in- lar, the sales response was enormous.
crease sales
sales revenue /selz
revənju/
sales potential /selz pə
tenʃəl/ noun US the income from sales of
noun the maximum market share that goods or services (NOTE: British English
can be achieved by a product is turnover)
sales presentation /selz sales statistics /selz stə
tstks/
prez(ə)n
teʃ(ə)n/ noun a demonstra- plural noun figures relating a com-
tion by a salesperson of a product pany’s sales
sales target 239 satisfying

sales target /selz
tɑ"t/ noun the tions of a small group of people to find
amount of sales a sales representative is out the reactions of a larger group of
expected to achieve consumers
sales team /selz tim/ noun all rep- sampling error /sɑmplŋ
erə/
resentatives, sales staff and sales man- noun the difference between the results
agers working in a company achieved in a survey using a small sam-
sales technique /selz tek
nik/ ple and what the results would be if you
noun a method used by a salesperson to used the entire population
persuade customers to buy, e.g. presen- sampling fraction /sɑmplŋ
tation of goods, demonstrations and
frkʃən/ noun a proportion of a group
closing of sales of people being surveyed that is chosen
sales territory /selz
tert(ə)ri/ as a sample 쑗 The sampling fraction
noun an area visited by a salesman will have to be small since we cannot af-
ford many interviews with respondents.
saleswoman /selzwυmən/ noun 1.
a woman in a shop who sells goods to sampling frame /sɑmplŋ frem/
customers (NOTE: plural is sales- noun the definition of the group of peo-
women) 2. a woman who sells products ple being surveyed out of which a sam-
or services to retail shops on behalf of a ple is to be taken
company sampling point /sɑmplŋ pɔnt/
salutation /
sljυteʃ(ə)n/ noun the noun a place where sampling is carried
way of addressing an email to a out 쑗 The sampling point was just out-
customer side the main railway station.
sample /sɑmpəl/ noun 1. a small sandwich board /sndwtʃ bɔd/
part of an item which is used to show noun a pair of boards with advertise-
what the whole item is like 쑗 Can you ments on them that is suspended from
provide us with a sample of the cloth or shoulder straps in front of and behind
a cloth sample? 2. a small group which the person wearing them
is studied in order to show what a larger sandwich man /sndwtʃ mn/
group is like 쑗 We interviewed a sample noun a man who carries a sandwich
of potential customers. 쐽 verb 1. to test board
or to try something by taking a small
satellite television /
st(ə)lat
amount of it 쑗 to sample a product be-
telv(ə)n/ noun a television service
fore buying it 2. to ask a representative
which is broadcast from a satellite, and
group of people questions to find out
which the viewer receives using a spe-
what the reactions of a much larger
cial aerial
group would be 쑗 They sampled 2,000
people at random to test the new drink. satisfaction /
stsfkʃən/ noun a
‘…all firms in the sample received the same good feeling of happiness and content-
questionnaire along with a covering letter ment 쑗 he finds great satisfaction in the
explaining the objectives of the study’ job even though the pay is low
[International Journal of Advertising]
satisfy /stsfa/ verb 1. to give sat-
sample size /sɑmpəl saz/ noun isfaction or to please 왍 to satisfy a cli-
the number of individuals included in a ent to make a client pleased with what
statistical survey they have purchased 왍 a satisfied cus-
sample survey /sɑmpəl
s&ve/ tomer a customer who has got what
noun a statistical study of a selected they wanted 2. to fill (the requirements
group of individuals designed to collect for a job, etc.) 왍 to satisfy a demand to
information on specific subjects such as fill a demand 쑗 We cannot produce
their buying habits or voting behaviour enough to satisfy the demand for the
sampling /sɑmplŋ/ noun 1. the product.
testing of a product by taking a small satisfying /stsfaŋ/ noun the act
amount 쑗 a sampling of European Un- of making satisfactory profits and main-
ion produce 2. the testing of the reac- taining an acceptable market share
saturate 240 scientific management

rather than making maximum profits at scatter /sktə/ noun a strategy by

all costs which an advertising message is put out
saturate /stʃəret/ verb to fill through several different vehicles at the
something completely 쑗 They are plan- same time
ning to saturate the market with cheap scattered market /
sktəd mɑkt/
mobile phones. 쑗 The market for home noun a market which is spread around a
computers is saturated. wide area, and therefore can only be
saturation /
stʃəreʃ(ə)n/ noun 1. reached by a company with an efficient
the process of filling completely 왍 satu- distribution system
ration of the market or market satu- scenario /snɑriəυ/ noun the way in
ration a situation where the market has which a situation may develop
taken as much of the product as it can ‘…on the upside scenario, the outlook is
reasonably optimistic, bankers say, the worst
buy 왍 the market has reached satura- scenario being that a scheme of arrangement
tion point the market is at a point where cannot be achieved, resulting in liquidation’
it cannot buy any more of the product 2. [Irish Times]
the fourth stage in a product’s life cycle scenario planning /snɑriəυ
where sales level off
plnŋ/ noun a planning technique in
saturation advertising /
stʃə- which the planners write down several
reʃ(ə)n
dvətazŋ/ noun a highly different descriptions of what they think
intensive advertising campaign 쑗 Satu- might happen in the future and how fu-
ration advertising is needed when there ture events, good or bad, might affect
are large numbers of rival products on their organisation (NOTE: Scenario
the market. planning can help managers to pre-
savings account /sevŋz ə
kaυnt/ pare for changes in the business envi-
noun an account where you put money ronment, to develop strategies for
in regularly and which pays interest, of- dealing with unexpected events and to
ten at a higher rate than a deposit choose between alternative strategic
account options.)
SBU abbr strategic business unit schedule /ʃedul/ noun 1. a timeta-
ble, plan of time drawn up in advance 왍
scale /skel/ noun a system which is on schedule at the time or stage set
graded into various levels 왍 scale of down in the schedule 쑗 The launch took
charges or scale of prices a list show- place on schedule. 2. a list, especially
ing various prices 쐽 verb 왍 to scale additional documents attached to a con-
down to lower in proportion 왍 to scale tract 쑗 the schedule of territories to
up to increase in proportion which a contract applies 쑗 See the at-
scaling technique /skelŋ tek- tached schedule or as per the attached

nik/ noun the use of a scale in ques- schedule. 쑗 Please find enclosed our
tionnaires to make interpretation of re- schedule of charges.
sults easier 쑗 The scaling technique was science /saəns/ noun study or
so complicated that the respondents did knowledge based on observing and
not understand the questions. testing
scarce /skeəs/ adjective not easily science park /saəns pɑk/ noun an
found or not common 쑗 scarce raw ma- area near a town or university set aside
terials 쑗 Reliable trained staff are for technological industries
scarce. scientific /
saəntfk/ adjective re-
scarceness /skeəsnəs/, scarcity ferring to science
/skeəsti/ noun the state of being scientific management
scarce 쑗 There is a scarcity of trained /
saəntfk mndmənt/ noun a
staff. school of management which believes
scarcity value /skeəsti
vlju/ in the rational use of resources in order
noun the value something has because it to maximise output, thus motivating
is rare and there is a large demand for it workers to earn more money
scope 241 seasonal discount

scope /skəυp/ noun an opportunity or by the buyer who then chooses the low-
possibility 쑗 There is considerable est bidder.
scope for expansion into the export mar- sealed tender /sild tendə/ noun a
ket. 왍 there is scope for improvement tender sent in a sealed envelope which
in our sales performance the sales per- will be opened with others at a specific
formance could be improved time
scrambled merchandising seal of approval /
sil əv ə-
/
skrmbəld m&tʃəndazŋ/ noun
pruv(ə)l/ noun a certificate from an
the displaying and selling of products organisation to show that a product has
which are unrelated to most of the oth- been officially approved
ers in the store such as groceries in a
newsagent’s or sandwiches in a seaport /sipɔt/ noun a port by the
pharmacy sea
screen /skrin/ noun 1. a glass surface search /s&tʃ/ noun the facility that
on which computer information or TV enables visitors to a website to look for
pictures can be shown 쑗 She brought up the information they want
the information on the screen. 쑗 I’ll just search engine /s&tʃ
endn/ noun
call up details of your account on the a website that enables users to conduct
screen. 2. a grid of dots or lines placed keyword searches of indexed informa-
between the camera and the artwork, tion that is held on its database
which has the effect of dividing the pic-
ture up into small dots, creating an im- search engine registration /s&tʃ
age which can be used for printing 쐽
endn red
streʃ(ə)n/ noun the
verb to examine something carefully to
process of registering a website with a
evaluate or assess it 왍 to screen candi- search engine, so that the website is able
dates to examine candidates to see if to be selected when a user requests a
they are completely suitable search
screening /skrinŋ/ noun 1. 왍 the season /siz(ə)n/ noun 1. one of four
screening of candidates examining parts which a year is divided into, i.e.
candidates to see if they are suitable 2. spring, summer, autumn, and winter 2. a
evaluating or estimating new product period of time when some activity usu-
ideas 쑗 Representatives from each de- ally takes place 쑗 the selling season
partment concerned will take part in the seasonal /siz(ə)n(ə)l/ adjective
screening process. 쑗 Screening showed which lasts for a season or which only
the product idea to be unrealistic for happens during a particular season 쑗
our production capacity. seasonal variations in sales patterns 쑗
script /skrpt/ noun the written text of The demand for this item is very
a commercial seasonal.
SDRs abbr special drawing rights seasonal adjustment /
siz(ə)n(ə)l
əd stmənt/ noun a change made to
seal /sil/ noun 1. 왍 contract under figures to take account of seasonal
seal a contract which has been legally variations
approved with the seal of the company
2. a piece of paper, metal or wax at-
seasonal business /
siz(ə)n(ə)l
tached to close something, so that it can bzns/ noun trade that varies depend-
be opened only if the paper, metal or ing on the time of the year, e.g. trade in
wax is removed or broken 쐽 verb to goods such as suntan products or Christ-
close something tightly 쑗 The computer mas trees
disks were sent in a sealed container. seasonal demand /
siz(ə)n(ə)l d-
sealed bid price /sild bd pras/ mɑnd/ noun demand which exists
noun a price of goods or a service for only during the high season
which suppliers are invited to submit seasonal discount /
siz(ə)n(ə)l
bids. The bids are considered together dskaυnt/ noun a discount offered at
specific times of the year during periods
seasonally adjusted 242 seed

of slack sales, such as by media owners second-generation product /-

to advertisers
sekənd denəreʃ(ə)n
prɒd kt/
noun a product which has been devel-
seasonally adjusted /
siz(ə)nəli oped from another
əd std/ adjective referring to statis-
tics which are adjusted to take account second half-year /
sekənd hɑf
of seasonal variations jə/ noun the six-month period from
July to the end of December
seasonal product /siz(ə)n(ə)l

prɒd kt/ noun a product such as skis secondhand /
sekəndhnd/ adjec-
or New Year cards which is only bought tive, adverb which has been owned by
for use at a specific time of year someone before 쑗 a secondhand car 쑗
the market in secondhand computers or
seasonal variation /
siz(ə)n(ə)l the secondhand computer market 쑗 to
veərieʃ(ə)n/ noun variation in data buy something secondhand
that happens at particular times of the
year, e.g. during the winter months or a secondhand dealer /
sekəndhnd
tourist season dilə/ noun a dealer who buys and sells
secondhand items
second /sekənd/ noun, adjective seconds /sekəndz/ plural noun
(the thing) which comes after the first
items which have been turned down by
secondary /sekənd(ə)ri/ adjective the quality controller as not being top
second in importance quality 쑗 The shop has a sale of
secondary audience /
sekənd(ə)ri seconds.
ɔdiəns/, secondary readership /- second season /
sekənd siz(ə)n/

sekənd(ə)ri ridəʃp/ noun people noun the period when a second series of
who do not buy a newspaper or maga- a network television programme is
zine themselves, but read a copy after shown
the original purchaser has finished with sector /sektə/ noun a part of the
it economy or the business organisation of
secondary bank /sekənd(ə)ri a country 쑗 All sectors of the economy
bŋk/ noun a finance company which suffered from the fall in the exchange
provides money for hire-purchase deals rate. 쑗 Technology is a booming sector
secondary data /sekənd(ə)ri
of the economy.
‘…government services form a large part of the

detə/ noun data or information which tertiary or service sector’ [Sydney Morning
has already been compiled and is there- Herald]
fore found through desk research 쑗 All ‘…in the dry cargo sector, a total of 956 dry
this secondary data can be found in our cargo vessels are laid up – 3% of world dry
files. 쑗 We found the secondary data in cargo tonnage’ [Lloyd’s List]
the embassy library. secured loan /skjυəd ləυn/ noun a
secondary industry /sekənd(ə)ri loan which is guaranteed by the bor-

ndəstri/ noun an industry which uses rower giving assets as security
basic raw materials to produce manufac- secure server /s
kjυə s&və/ noun
tured goods a combination of hardware and software
secondary meaning /
sekənd(ə)ri that makes e-commerce credit card
minŋ/ noun a nickname given to a transactions safe by stopping unauthor-
brand deliberately by the producer or by ised people from gaining access to
the consumer credit card details online
second-class /
sekənd klɑs/ ad- security /skjυərəti/ noun being pro-
jective, adverb referring to a less expen- tected against attack, etc.
sive or less comfortable way of seed /sid/ noun details of the address
travelling 쑗 The group will travel sec- of the person who owns a list, put into a
ond-class to Holland. 쑗 The price of a rented mailing list to check if it is being
second-class ticket is half that of a first used correctly 쐽 verb to put the names
class. and addresses of the mailers into a
see-safe 243 self-mailer

rented mailing list to check that it is be- selective distribution /s
lektv

ing used correctly dstrbjuʃ(ə)n/ noun use by a pro-
ducer of a limited number of wholesal-
see-safe /si sef/ adverb under an
ers and retailers in a particular area 쑗
agreement where a supplier will give
This specialised product will need selec-
credit for unsold goods at the end of a
tive distribution. 쑗 Selective distribution
period if the retailer cannot sell them 쑗
may not enable the goods to reach con-
We bought the stock see-safe.
sumers in sufficient quantities.
segment noun / se"mənt/ a part of selective exposure /s
lektv k-
the sales of a large business defined by spəυə/ noun the process by which
specific criteria 쐽 verb /se"ment/ to consumers decide whether they will
divide a potential market into different watch or listen to advertising
segments information
‘…like direct mail, telemarketing has assumed
greater importance as consumer markets have selective mailing /s
lektv
become segmented’ [Financial Times] melŋ/ noun the mailing out of promo-
segmentation /
se"mənteʃ(ə)n/ tional material to a selected address list
noun the division of the market or con- selective retention /s
lektv r-
sumers into categories according to their tenʃən/ noun the process by which
buying habits people remember some information but
‘…different market segments and, ultimately, not everything they hear
individual consumers, must be addressed self- /self/ prefix referring to yourself
separately’ [Financial Times]
self-completion /self kəm-
select /slekt/ adjective of top quality pliʃ(ə)n/ noun a type of questionnaire
or specially chosen 쑗 The firm offers a that can be filled in without an inter-
select range of merchandise. 쑗 Our cus- viewer being present 쑗 These
tomers are a select group. 쐽 verb to self-completion questionnaires can be
choose 쑗 The board will meet to select sent out through the post. 쑗
three candidates for a second interview. Self-completion is not a good idea if the
왍 selected items are reduced by 25% respondents don’t understand the
some items have been reduced by 25% questions.
selection /slekʃən/ noun 1. a choice self-image /self md/ noun an idea
2. a thing which has been chosen 쑗 that a person has about his or her own
Here is a selection of our product line. character and abilities
selection procedure /slekʃən self-liquidating offer /self
prə
sidə/ noun the general method of lkwdetŋ
ɒfə/ noun the offer of a
choosing a candidate for a job free gift or the sale of another product at
selective /slektv/ adjective choos- a discount, made when a product is
ing carefully bought, usually against proof of pur-
chase. The intention is to encourage the
selective attention /s
lektv ə- customer to adopt the brand, and at the
tenʃən/, selective perception noun same time to cover the cost of the offer
an individual’s tendency to uncon- and reduce overall promotional costs for
sciously select what they want from an the product. 쑗 Even with the
advertisement 쑗 We must take selective self-liquidating offer our sales have not
perception into account when deciding gone up very much.
what to stress in the advertising.
self-mailer /self melə/ noun an item
selective demand /s
lektv d- of promotional material sent through the
mɑnd/ noun demand for a particular post, which includes a postage-paid re-
brand ply section which can be sent back with-
selective demand advertising out an envelope and on which customers
/s
lektv dmɑnd
dvətazŋ/ can make an order 쑗 Only 10% of the
noun advertising that stimulates demand self-mailers we sent out have elicited
for a specific product or brand any response.
self-reference criterion 244 semi-display advertisement

self-reference criterion /self something which sells 쑗 This book is a

refrəns kra
təriən/ noun the as- steady seller.
sumption that a product can successfully seller’s market /
seləz mɑkt/
be sold abroad on the basis of its success noun a market where the seller can ask
in the home market (NOTE: plural is high prices because there is a large de-
criteria) mand for the product
self-regulation /self re"jυleʃ(ə)n/ sell forward /
sel fɔwəd/ verb to
noun the regulation of an industry by it- sell foreign currency, commodities, etc.
self, through a committee which issues a for delivery at a later date
rulebook and makes sure that members sell-in /sel n/ noun the amount of
of the industry follow the rules (NOTE: stock of a product taken by retailers
For example, the Stock Exchange is when it is launched
regulated by the Stock Exchange
Council.) -selling /selŋ/ suffix 왍 best-selling
‘…he blamed a tiny minority for breaking the car a car which sells better than other
codes and warned against agencies and clients models
trying to outwit the ASA. He called for honest selling agent /selŋ
edənt/ noun
dealings within the spirit of self-regulation and
warned that the alternative to self-regulation a person who sells for a business or an-
was statutory restrictions’ [Marketing] other person and earns a commission
self-regulatory /self re"jυlet(ə)ri/ selling costs /selŋ kɒsts/ plural
adjective referring to an organisation noun an amount of money to be paid for
which regulates itself the advertising, reps’ commissions, etc.
involved in selling something
self-service petrol station /self

s&vs petrəl
steʃ(ə)n/ noun a petrol selling price /selŋ pras/ noun the
station where the customers put the price at which someone is willing to sell
petrol in their cars themselves something
self-service store /self s&vs stɔ/ selling space /selŋ spes/ noun the
noun a shop where customers take amount of space in a retail outlet which
goods from the shelves and pay for them is used for displaying goods for sale
at the checkout sell off /
sel ɒf/ verb to sell goods
self-sticking label /self
stkŋ quickly to get rid of them
leb(ə)l/ noun a label with glue on it, sell out /
sel aυt/ verb 1. 왍 to sell out
ready to stick on an item of an item to sell all the stock of an item
쑗 to sell out of a product line 쑗 This
sell /sel/ noun an act of selling 왍 to
give a product the hard sell to make item has sold out. 쑗 We have sold out of
great efforts to persuade customers to plastic bags. 2. to sell your business 쑗
buy it 쐽 verb 1. to give goods in ex- They sold out and retired to the seaside.
change for money 쑗 to sell something sellout /selaυt/ noun 왍 this item has
on credit 쑗 The shop sells washing ma- been a sellout all the stock of the item
chines and refrigerators. 쑗 They tried to has been sold
sell their house for £100,000. 쑗 Their semantic differential /s
mntk
products are easy to sell. 2. to be sold 쑗 dfərenʃəl/ noun a scaling technique
These items sell well in the which provides a range of possible an-
pre-Christmas period. 쑗 Those packs swers between two opposite descriptive
sell for £25 a dozen. (NOTE: selling – words
sold) semi- /semi/ prefix half or part
sell-by date /selba det/ noun date semi-display advertisement
on a food packet which is the last date /
semi dsple əd
v&tsmənt/ noun
on which the food is guaranteed to be an advertisement that has some of the
good features of a display advertisement such
seller /selə/ noun 1. a person who as a border and its own typeface or
sells 쑗 There were few sellers in the illustrations, but which is printed on the
market, so prices remained high. 2. classified advertisement page
semi-finished product 245 services

semi-finished product /
semi vice the bill includes a charge added for
fnʃt
prɒd kt/ noun a product which the work involved 쑗 Is the service in-
is partly finished cluded? 2. the act of keeping a machine
semiotics /
semiɒtks/ noun the use in good working order 쑗 the routine ser-
of such promotional tools as package vice of equipment 쑗 The machine has
design, logos and slogans in marketing been sent in for service. 쐽 verb 1. to
(NOTE: takes a singular verb) keep a machine in good working order
쑗 The car needs to be serviced every six
semi-solus /
semi səυləs/ noun an months. 쑗 The computer has gone back
advertisement that shares a page with to the manufacturer for servicing. 2. 왍
other advertisements, but is not immedi- to service a debt to pay interest on a
ately next to any of them debt 쑗 The company is having problems
semi-structured interview /
semi in servicing its debts.

str ktʃəd ntəvju/ noun an inter- service bureau /s&vs
bjυərəυ/
view using some pre-set questions but noun an office which specialises in
allowing some questions that have been helping other offices
chosen by the interviewer as well 쑗 Part
of a semi-structured interview consists service centre /s&vs
sentə/ noun
in respondents describing their first re- an office or workshop which specialises
actions to the advertisement. in keeping machines in good working
order
semi-variable cost /
semi

veəriəb(ə)l kɒst/ noun money paid to service charge /s&vs tʃɑd/
produce a product which increases, noun US a charge which a bank makes
though less than proportionally, with the for carrying out work for a customer
quantity of the product made 쑗 Stepping (NOTE: the British equivalent is bank
up production will mean an increase in charge)
semi-variable costs. service department /s&vs d-
send away for /
send əwe fɔ/
pɑtmənt/ noun the section of a com-
verb to write asking for something to be
pany which keeps customers’ machines
sent to you 쑗 We sent away for the new in good working order
catalogue. service engineer /s&vs end-

nə/ noun an engineer who specialises
sender /sendə/ noun a person who in keeping machines in good working
sends 왍 ‘return to sender’ words on an
order
envelope or parcel to show that it is to
be sent back to the person who sent it service history /s&vs
hst(ə)ri/
noun a record of the times a machine
send off for /
send ɒf fɔ/ verb to has been serviced
write asking for something to be sent to
you 쑗 We sent off for the new catalogue. service level /s&vs
lev(ə)l/ noun
a measurement of how efficient a pro-
sensitive /senstv/ adjective able to ducer is in distributing goods, e.g. the
feel something sharply 쑗 The market is minimum number of back orders at any
very sensitive to the result of the one time or delivery frequency to an
elections. area 쑗 Service levels must be improved
sequential sampling /s
kwenʃəl to fight competition. 쑗 The product is
sɑmplŋ/ noun the process of carrying competitive in itself, but sales are af-
on the process of sampling until enough fected by a low service level.
respondents have been interviewed to service level agreement /s&vs
provide the necessary information lev(ə)l ə
"rimənt/ noun an agreement
serial number /səriəl
n mbə/ between a supplier and a customer
noun a number in a series 쑗 This batch which stipulates the level of services to
of shoes has the serial number 25–02. be rendered. Abbr SLA
service /s&vs/ noun 1. payment for services /s&vsz/ plural noun bene-
help given to the customer 쑗 to add on fits which are sold to customers or cli-
10% for service 왍 the bill includes ser- ents, e.g. transport or education 쑗 We
service station 246 ship

give advice to companies on the market- thing up among several people or

ing of services. 쑗 We must improve the groups 쑗 to share computer time 쑗 to
exports of both goods and services. share the profits among the senior exec-
service station /s&vs
steʃ(ə)n/ utives 쑗 Three companies share the
noun a garage where you can buy petrol market. 왍 to share information or data
and have small repairs done to a car to give someone information which you
have
set /set/ noun a group of items which ‘…falling profitability means falling share
go together, which are used together or prices’ [Investors Chronicle]
which are sold together 쑗 a set of tools ‘…the share of blue-collar occupations declined
쐽 adjective fixed or which cannot be from 48 per cent to 43 per cent’
changed 쑗 There is a set fee for all our [Sydney Morning Herald]
consultants. 쐽 verb to fix or to arrange share capital /ʃeə
kptl/ noun the
쑗 We have to set a price for the new value of the assets of a company held as
computer. 쑗 The price of the calculator shares
has been set low, so as to achieve maxi-
mum unit sales. 왍 the auction set a re- shared mailing /ʃeəd melŋ/ noun
cord for high prices the prices at the a mailing where two or more producers
auction were the highest ever reached insert mailing pieces in the same
envelope
set menu /set menju/ noun a
cheaper menu in a restaurant where shelf /ʃelf/ noun a horizontal flat sur-
there are only a few choices face attached to a wall or in a cupboard
on which items for sale are displayed 쑗
setting up costs /
setŋ  p kɒsts/, The shelves in the supermarket were full
setup costs /set p kɒsts/ plural of items before the Christmas rush.
noun the costs of getting a machine or a
factory ready to make a new product af- shelf barker /ʃelf
bɑkə/, shelf
ter finishing work on the previous one talker /ʃelf
tɔkə/, shelf wobbler
/ʃelf
wɒblə/ noun a card placed on or
settle /setl/ verb 왍 to settle an ac- hung from a shelf to promote an item for
count to pay what is owed sale
settlement /setlmənt/ noun pay- shelf filler /ʃelf
flə/ noun a person
ment of an account 왍 we offer an extra whose job is to make sure that the
5% discount for rapid settlement we shelves in a shop are kept full of items
take a further 5% off the price if the cus- for sale
tomer pays quickly 왍 settlement in
cash or cash settlement payment of an shelf life /ʃelf laf/ noun the length
invoice in cash, not by cheque of time during which a product can stay
‘…he emphasised that prompt settlement of all in the shop and still be good to use
forms of industrial disputes would guarantee shelf space /ʃelf spes/ noun the
industrial peace in the country and ensure amount of space on shelves in a shop
increased productivity’ [Business Times
(Lagos)] shift /ʃft/ noun a movement or change
set up /
set  p/ verb to begin some- 쑗 a shift in the company’s marketing
thing, or to organise something new 쑗 to strategy 쑗 The company is taking ad-
set up an inquiry or a working party 왍 to vantage of a shift in the market towards
set up a company to start a company le- higher-priced goods.
gally 왍 to set up in business to start a ship /ʃp/ noun a large boat for carry-
new business 쑗 She set up in business as ing passengers and cargo on the sea 왍 to
an insurance broker. 쑗 He set himself drop ship to deliver a large order direct
up as a freelance representative. to a customer’s shop or warehouse,
‘…the concern announced that it had acquired a without going through an agent 쐽 verb
third large tanker since being set up’ to send goods, but not always on a ship
[Lloyd’s List] 쑗 to ship goods to the USA 쑗 We ship
share /ʃeə/ noun a part of something all our goods by rail. 쑗 The consign-
that has been divided up among several ment of cars was shipped abroad last
peoole or groups 쐽 verb to divide some- week.
shipbroker 247 shopping cart

shipbroker /ʃp
brəυkə/ noun a around when you are planning to get a
person who arranges shipping or trans- mortgage.
port of goods for customers on behalf of
ship owners shop audit /ʃɒp
ɔdt/ noun a
market-research method by which a re-
ship chandler /ʃp tʃɑndlə/ noun a search company regularly checks a sam-
person who supplies goods such as food ple of retailers for unit sales and stock
to ships levels of different brands 쑗 Since sub-
shipment noun /ʃpmənt/ goods scribing to the shop audit we have seen
which have been sent or are going to be how much better we’re doing than our
sent 쑗 Two shipments were lost in the competitors.
fire. 쑗 A shipment of computers was shopbot /ʃɒpbɒt/ noun an automated
damaged. 쐽 an act of sending goods 쑗 device that searches the Internet for par-
We make two shipments a week to ticular products or services, allowing the
France. user to compare prices or specifications
shipper /ʃpə/ noun a person who shop floor /ʃɒp flɔ/ noun the space
sends goods or who organises the send- in a shop given to the display of goods
ing of goods for other customers for sale
shipping /ʃpŋ/ noun the sending of shop front /ʃɒp fr nt/ noun a part of
goods 쑗 shipping charges 쑗 shipping a shop which faces the street, including
costs (NOTE: shipping does not always the entrance and windows
mean using a ship)
shopkeeper /ʃɒpkipə/ noun a per-
shipping agent /ʃpŋ
edənt/ son who owns or runs a shop
noun a company which specialises in
the sending of goods shoplifter /ʃɒplftə/ noun a person
who steals goods from shops
shipping confirmation /ʃpŋ
kɒnfə
meʃ(ə)n/ noun an email mes- shoplifting /ʃɒplftŋ/ noun the
sage informing the purchaser that an or- practice of stealing goods from shops
der has been shipped shopper /ʃɒpə/ noun a person who
shipping instructions /ʃpŋ n- buys goods in a shop 쑗 The store stays

str kʃənz/ plural noun the details of open to midnight to cater for late-night
how goods are to be shipped and shoppers.
delivered shoppers’ charter /
ʃɒpəz tʃɑtə/
shipping note /ʃpŋ nəυt/ noun a noun a law which protects the rights of
note which gives details of goods being shoppers against shopkeepers who are
shipped not honest or against manufacturers of
shop /ʃɒp/ noun 1. a place where defective goods
goods are stored and sold 쑗 a computer shopping /ʃɒpŋ/ noun 1. the act of
shop 쑗 an electrical goods shop 쑗 She buying goods in a shop 쑗 to go shop-
has bought a shoe shop in the centre of ping 2. goods bought in a shop 쑗 to buy
town. 쑗 All the shops in the centre of your shopping or to do your shopping in
town close on Sundays. 쑗 She opened a the local supermarket
women’s clothes shop. 2. an advertising shopping cart /ʃɒpŋ kɑt/ noun 1.
agency (NOTE: American English is US a metal basket on wheels, used by
usually store) 쐽 verb 왍 to shop (for) to shoppers to put their purchases in as
look for things in shops they go round a supermarket (NOTE:
shop around /
ʃɒp əraυnd/ verb to British English is shopping trolley or
go to various shops or suppliers and supermarket trolley) 2. a software
compare prices before making a pur- package that records the items that an
chase or before placing an order 쑗 You online buyer selects for purchase to-
should shop around before getting your gether with associated data, e.g., the
car serviced. 쑗 He’s shopping around price of the item and the number of
for a new computer. 쑗 It pays to shop items required
shopping centre 248 short-term forecast

shopping centre /ʃɒpŋ
sentə/ near future or quite soon 2. not as much
noun a group of shops linked together as should be 쑗 The shipment was three
with car parks and restaurants items short. 쑗 My change was £2 short.
shopping experience /ʃɒpŋ k- 왍 when we cashed up we were £10

spəriəns/ noun the virtual environ- short we had £10 less than we should
ment in which a customer visits an have had 왍 to give short weight to sell
e-merchant’s website, selects items, something which is lighter than it
places them in an electronic shopping should be 왍 short of with less than
cart and notifies the merchant of the or- needed or not enough of 쑗 We are short
der (NOTE: The shopping experience of staff or short of money. 쑗 The com-
does not include a payment transac- pany is short of new ideas.
tion, which is initiated by a message to shortage /ʃɔtd/ noun a lack or
a point-of-sale program when the cus- low availability of something 쑗 a short-
tomer signals that he or she has fin- age of skilled staff 쑗 We employ
ished shopping and wishes to pay.) part-timers to make up for staff short-
shopping goods /ʃɒpŋ "υdz/ plu- ages. 쑗 The import controls have re-
ral noun high-priced goods whose pur- sulted in the shortage of spare parts. 왍
chase has to be considered carefully by there is no shortage of investment ad-
customers, who compare the good vice there are plenty of people who want
points of competing brands to give advice on investments
shopping mall /ʃɒpŋ mɒl/ noun an short-change /
ʃɔttʃend/ verb to
enclosed covered area for shopping, give a customer less change than is
with shops, restaurants, banks and other right, either by mistake or in the hope
facilities that it will not be noticed
shopping precinct /ʃɒpŋ short credit /ʃɔt kredt/ noun

prisŋkt/ noun a part of a town where terms which allow the customer only a
the streets are closed to traffic so that little time to pay
people can walk about and shop
shorthanded /
ʃɔthndd/ adjec-
shopping trolley /ʃɒpŋ
trɒli/ tive without enough staff 쑗 We’re
noun same as shopping cart rather shorthanded at the moment.
shop-soiled /ʃɒp sɔld/ adjective short lease /ʃɔt lis/ noun a lease
dirty because of having been on display which runs for up to two or three years
in a shop 쑗 These items are shop-soiled 쑗 We have a short lease on our current
and cannot be sold at full price. premises.
shopwalker /ʃɒpwɔkə/ noun an
employee of a department store who ad- short-range forecast /
ʃɔt rend
vises the customers and supervises the fɔkɑst/ noun a forecast which covers
shop assistants in a department a period of a few months
shop window /ʃɒp wndəυ/ noun a short-staffed /
ʃɔt stɑft/ adjective
large window in a shop front, where with not enough staff 쑗 We’re rather
customers can see goods displayed short-staffed at the moment.
shop window website /ʃɒp short-term /
ʃɔt t&m/ adjective for
wndəυ
websat/ noun a website that a period of weeks or months 쑗 to place
provides information about an organisa- money on short-term deposit 쑗 She is
tion and its products, but does not allow employed on a short-term contract. 왍 on
visitors to interact with it a short-term basis for a short period
shop-within-shop /
ʃɒp wðn short-term debt /
ʃɔt t&m det/
ʃɒp/ noun an arrangement in large de- noun a debt which has to be repaid
partment stores, where space is given to within a few weeks
smaller specialised retail outlets to trade short-term forecast /
ʃɔt t&m
short /ʃɔt/ adjective 1. for a small pe- fɔkɑst/ noun a forecast which covers
riod of time 왍 in the short term in the a period of a few months
short-term gain 249 single sourcing

short-term gain /
ʃɔt t&m "en/ ‘…if your company needed a piece of
equipment priced at about $50,000, would you
noun an increase in price made over a buy it sight unseen from a supplier you had
short period never met?’ [Nation’s Business]
short-term planning /
ʃɔt t&m sight draft /sat drɑft/ noun a bill
plnŋ/ noun planning for the immedi- of exchange which is payable when it is
ate future presented
shout /ʃaυt/ noun a bold statement sign /san/ noun a board or notice
promoting a book, either printed on the which advertises something 쑗 They
cover or on posters and leaflets 쑗 The have asked for planning permission to
author disliked the shout on the cover put up a large red shop sign. 쑗 Advertis-
suggested by the publisher’s promo- ing signs cover most of the buildings in
tional manager. the centre of the town.
show /ʃəυ/ noun an exhibition or dis- signage /sand/ noun all the signs
play of goods or services for sale 쑗 a and logos which identify an organisa-
motor show 쑗 a computer show tion such as a retail group, chain of res-
showcard /ʃəυkɑd/ noun a piece of taurants or motorway service area
cardboard with advertising material, put ‘…if planning permission is granted and the
near an item for sale Department of Transport is happy to grant
motorway signage and access permission, you
showcase noun /ʃəυkes/ 1. a cup- can buy or lease the land and start building’
board with a glass front or top to display [Caterer & Hotelkeeper]
items 2. the presentation of someone or signature /s"nətʃə/ noun a special
something in a favourable setting 쐽 authentication code, such as a password,
verb to present someone or something which a user must enter to prove his or
in a way that is designed to attract atten- her identity
tion and admiration signature file /s"nətʃə fal/ noun
showing /ʃəυŋ/ noun a measure- text at the end of an email message that
ment of an audience’s exposure to out- identifies the sender and company
door advertising name, address, etc. Abbr sig file
showroom /ʃəυrum/ noun a room silver market /slvə
mɑkt/ noun a
where goods are displayed for sale 쑗 a market consisting of retired people
car showroom (NOTE: also called grey market)
shrink /ʃrŋk/ verb to get smaller 쑗 SINBAD abbr single income no boy-
The market has shrunk by 20%. 쑗 The friend absolutely desperate
company is having difficulty selling into single column centimetre /
sŋ"əl
a shrinking market. (NOTE: shrinking –
kɒləm sentmitə/ noun a unit of
shrank – has shrunk) measurement for newspaper and maga-
shrinkage /ʃrŋkd/ noun 1. the zine advertisements, representing one
amount by which something gets column which is one centimetre in depth
smaller 쑗 to allow for shrinkage 2. single-currency /
sŋ"əl k rənsi/
losses of stock through theft, especially adjective using or shown as an amount
by the shop’s own staff (informal ).
in only one currency
SIC abbr standard industrial single (European) market
classification /
sŋ"(ə)l
jυərəpiən mɑkt/ noun 쒁
sideline /sadlan/ noun a business European Union
which is extra to your normal work 쑗 single sourcing /
sŋ"əl sɔsŋ/
He runs a profitable sideline selling noun the practice of obtaining all of a
postcards to tourists. company’s supplies from one source or
sight /sat/ noun the act of seeing 왍 supplier 쑗 The buying department be-
bill payable at sight a bill which must lieves that single sourcing will lead to
be paid when it is presented 왍 to buy higher raw-material costs. 쑗 Single
something sight unseen to buy some- sourcing has simplified our purchasing
thing without having inspected it plans.
site 250 smuggle

site /sat/ noun the place where some- sleeper effect /slipər 
fekt/ noun
thing is located 쑗 We have chosen a site an effect shown where a message be-
for the new factory. 쑗 The supermarket comes more persuasive over a period of
is to be built on a site near the station. time
situation /
stʃueʃ(ə)n/ noun a state slot /slɒt/ noun the period of time
of affairs 쑗 the financial situation of a available for a TV or radio commercial
company 쑗 the general situation of the 쑗 They took six 30-second slots at peak
economy viewing time.
situation analysis /stʃueʃ(ə)n slot machine /slɒt mə
ʃin/ noun a
ə
nləss/, situation audit machine which provides drinks or ciga-
/stʃueʃ(ə)n
ɔdt/ noun the stage in rettes, plays music, etc. when a coin is
marketing planning concerned with in- put in it
vestigating an organisation’s strengths slow payer /sləυ peə/ noun a per-
and weaknesses 쑗 In the situation anal- son or company that does not pay debts
ysis particular attention was paid to ex- on time 쑗 The company is well known
isting production capacity. 쑗 It is clear as a slow payer.
from the situation analysis that distribu- slump /sl mp/ noun 1. a rapid fall 쑗
tion is our biggest problem. the slump in the value of the pound 쑗
six-pack /sks pk/ noun a box con- We experienced a slump in sales or a
taining six items, often bottles or cans slump in profits. 2. a period of economic
skim /skmŋ/ verb to fix a high price collapse with high unemployment and
on a new product in order to achieve loss of trade 쑗 We are experiencing
high short-term profits. The high price slump conditions. 3. the world economic
reflects the customer’s appreciation of crisis of 1929 – 1933 쐽 verb to fall fast
쑗 Profits have slumped. 쑗 The pound
the added value of the new product, and
will be reduced in due course as the slumped on the foreign exchange
product becomes established on the markets.
market. 쑗 We are skimming the market small business /smɔl bznəs/
with a product that will soon be noun a little company with low turnover
obsolete. and few employees
skip scheduling /skp
ʃedulŋ/ small businessman /smɔl
noun the act of arranging for an adver- bznəsmn/ noun a man who owns a
tisement to appear in every other issue small business
of a publication small print /smɔl prnt/ noun de-
SKU noun a unique code made up of tails in an official document such as a
numbers or letters and numbers which is contract that are printed in letters of a
assigned to a product by a retailer for smaller size than the rest of the text and,
identification and stock control. Full consequently, may be overlooked even
form stockkeeping unit though they are often important
SLA abbr service level agreement small-scale enterprise /
smɔl
skel entəpraz/ noun a small business
slack season /slk
siz(ə)n/ noun
a period when a company is not very SME noun an organisation that is in the
busy start-up or growth phase of development
and has between 10 and 500 employees,
slash /slʃ/ verb to reduce sharply 쑗 according to the UK Department of
We have been forced to slash credit Trade and Industry definition. Full form
terms. 쑗 Prices have been slashed in all small and medium-sized enterprise
departments. 쑗 The banks have slashed smuggle /sm "(ə)l/ verb to take
interest rates. goods illegally into a country or without
sleeper /slipə/ noun a product which declaring them to customs 쑗 They had
does not sell well for some time, then to smuggle the spare parts into the
suddenly becomes very popular country.
smuggler 251 sole

smuggler /sm "lə/ noun a person successful in life and want to work with
who smuggles groups of people
smuggling /sm "lŋ/ noun the prac- societal marketing /sə
saət(ə)l
tice of taking goods illegally into a mɑktŋ/ noun same as social
country or without declaring them to marketing
customs 쑗 They made their money in society /səsaəti/ noun 1. the way in
arms smuggling. which the people in a country are
snap up /
snp  p/ verb to buy organised 2. a club for a group of people
something quickly 쑗 to snap up a bar- with the same interests 쑗 We have
gain 쑗 She snapped up 15% of the com- joined a computer society.
pany’s shares. (NOTE: snapping – socio-cultural research /
səυʃiəυ
snapped)
k ltʃərəl rs&tʃ/ noun research into
snip /snp/ noun a bargain (informal ) . problems of society and culture, which
쑗 These printers are a snip at £50. gives insights into consumers and their
social /səυʃ(ə)l/ adjective referring to needs
society in general socio-economic /
səυʃiəυ ikə-
social audit /
səυʃ(ə)l ɔdt/ an nɒmk/ adjective referring to social
analysis of the social consequences of a and economic conditions, social classes
particular marketing strategy 쑗 The so- and income groups 쑗 We have commis-
cial audit focused on the effects of pollu- sioned a thorough socio-economic anal-
tion in the area. 쑗 The social audit ysis of our potential market.
showed that the factory could provide COMMENT: The British socio-economic
jobs for five per cent of the unemployed groups are: A: upper middle class: se-
in the small town nearby. nior managers, administrators, civil ser-
vants and professional people; B: middle
social cost /səυʃ(ə)l kɒst/ noun 1. a class: middle-ranking managers, admin-
negative effect of a type of production istrators, civil servants and professional
on society 쑗 The report examines the people; C1: lower middle class: junior
social costs of building the factory in the managers and clerical staff; C2: skilled
middle of the town. 쑗 The industry’s workers: workers with special skills and
representative denied that any social qualifications; D: working class: un-
cost was involved in the new develop- skilled workers and manual workers; E:
ment. 2. the way in which something subsistence level: pensioners, the un-
will affect people employed and casual manual workers.

social marketing /
səυʃ(ə)l socio-economic groups /
səυʃiəυ

mɑktŋ/ noun marketing with the ikə
nɒmk "rups/ plural noun
purpose of contributing to society rather groups in society divided according to
than just making a profit income and position
social security /
səυʃ(ə)l s- socio-economic segmentation
kjυərti/, social insurance /
səυʃ(ə)l /
səυʃiəυ ikə
nɒmk se"mən-
nʃυərəns/ noun a government scheme teʃ(ə)n/ noun dividing the population
where employers, employees and the into segments according to their in-
self-employed make regular contribu- comes and social class
tions to a fund which provides unem- soft currency /sɒft k rənsi/ noun
ployment pay, sickness pay and the currency of a country with a weak
retirement pensions 쑗 He gets weekly economy, which is cheap to buy and dif-
social security payments. ficult to exchange for other currencies
social system /səυʃ(ə)l
sstəm/ soft sell /sɒft sel/ noun the process
noun the way society is organised of persuading people to buy, by encour-
societal /səsaət(ə)l/ adjective refer- aging and not forcing them to do so
ring to society software /sɒftweə/ noun computer
societally conscious /sə
saətəli programs
kɒnʃəs/ plural noun people who are sole /səυl/ adjective only
sole agency 252 special drawing rights

sole agency /səυl edənsi/ noun employee 2. the person who sends a
an agreement to be the only person to message 쐽 verb to get supplies from
represent a company or to sell a product somewhere 쑗 We source these spare
in a particular area 쑗 He has the sole parts in Germany.
agency for Ford cars. source credibility /sɔs kredə-
sole agent /səυl edənt/ noun a
blti/ noun the image people have of
person who has the sole agency for a someone which will determine that per-
company in an area 쑗 She is the sole son’s credibility
agent for Ford cars in the locality. source power /sɔs
paυə/ noun the
sole distributor /səυl dstrbjυtə/ power derived by a source from being
noun a retailer who is the only one in an able to reward a customer
area who is allowed to sell a product sourcing /sɔsŋ/ noun the process
sole owner /səυl əυnə/ noun a per- of finding suppliers of goods or services
son who owns a business on their own, 쑗 The sourcing of spare parts can be di-
with no partners, and has not formed a versified to suppliers outside Europe. 쏡
company outsourcing
sole trader /səυl tredə/ noun a per- space /spes/ noun an empty place or
son who runs a business, usually by empty area 왍 to take advertising space
themselves, but has not registered it as a in a newspaper to place a large adver-
company tisement in a newspaper
solicit /səlst/ verb 왍 to solicit or- space buyer /spes
baə/ noun a
ders to ask for orders, to try to get peo- person who buys advertising space in
ple to order goods magazines and newspapers
solus /səυləs/ adjective alone spam /spm/ noun articles that have
solus (advertisement) /səυləs əd- been posted to more than one

v&tsmənt/ noun an advertisement newsgroup, and so are likely to contain
which does not appear near other adver- unsolicited commercial messages
tisements for similar products spare parts /speə pɑts/ plural noun
solus position /səυləs pə
zʃ(ə)n/ a stock of components for a machine
noun a position for an advertisement
that are kept in case the machine breaks
which is alone on a page, or not near ad- down and needs to be repaired
vertisements for similar products spatial segmentation /
speʃ(ə)l
se"mənteʃ(ə)n/ noun the segmenta-
solus site /səυləs sat/ noun a shop tion or division of a market according to
which only carries products from one
areas or regions
supplier
spec /spek/ noun same as specifica-
solution brand /səluʃ(ə)n brnd/ tion 왍 to buy something on spec to buy
noun a combination of a product and re-
something without being sure of its
lated services, e.g. a computer system value
plus installation and maintenance, that
meets a customer’s needs more effec- special /speʃ(ə)l/ adjective better
tively than the product on its own than usual 쑗 He offered us special
terms. 쑗 The car is being offered at a
sorting /sɔtŋ/ noun the process of special price. 쐽 noun a product which a
organising a mailing list in a certain or- retailer buys for a special purpose, e.g. a
der (by name, by country, etc.) premium offer
source /sɔs/ noun 1. the place where ‘…airlines offer special stopover rates and hotel
something comes from 쑗 What is the packages to attract customers to certain routes’
source of her income? 쑗 You must de- [Business Traveller]
clare income from all sources to the tax special drawing rights /speʃəl
office. 왍 income which is taxed at drɔŋ rats/ noun a unit of account
source income where the tax is removed used by the International Monetary
and paid to the government by the em- Fund, allocated to each member country
ployer before the income is paid to the for use in loans and other international
specialisation 253 spiff

operations; their value is calculated specifications to work to specifications

daily on the weighted values of a group which are acceptable anywhere in an in-
of currencies shown in dollars dustry 왍 the work is not up to specifi-
specialisation /
speʃəlazeʃ(ə)n/, cation or does not meet our
specialization noun the act of dealing specifications the product is not made
with one specific type of product 쑗 The in the way which was detailed
company’s area of specialisation is ac- specify /spesfa/ verb to state
counts packages for small businesses. clearly what is needed 쑗 to specify full
specialise /speʃəlaz/, specialize details of the goods ordered 쑗 Do not
verb to deal with one particular type of include VAT on the invoice unless speci-
skill or product or service 쑗 The com- fied. 쑗 Candidates are asked to specify
pany specialises in electronic compo- which of the three posts they are apply-
nents. 쑗 They have a specialised ing for. (NOTE: specifying- specified)
product line. 쑗 He sells very specialised specimen /spesmn/ noun some-
equipment for the electronics industry. thing which is given as a sample 왍 to
‘…the group specializes in the sale, lease and give specimen signatures on a bank
rental of new and second-user hardware’
[Financial Times] mandate to write the signatures of all
the people who can sign cheques for an
specialist /speʃəlst/ noun a person account so that the bank can recognise
or company that deals with one particu- them
lar type of product or one subject 쑗 You
should go to a specialist in computers or spend verb /spend/ 1. to pay money 쑗
to a computer specialist for advice. They spent all their savings on buying
the shop. 쑗 The company spends thou-
speciality /
speʃiləti/, specialty sands of pounds on research. 2. to use
/speʃ(ə)lti/ noun the specific business
time 쑗 The company spends hundreds of
interest or specific type of product that a person-hours on meetings. 쑗 The chair-
company has 쑗 Their speciality is com- man spent yesterday afternoon with the
puter programs. auditors. (NOTE: spending – spent) 쐽
special offer /
speʃ(ə)l ɒfə/ noun a noun an amount of money spent 쑗
situation where goods are put on sale at What’s the annual spend on marketing?
a specially low price 쑗 We have a range
of men’s shirts on special offer. spending /spendŋ/ noun the act of
paying money for goods and services 쑗
special position /
speʃ(ə)l pə- Both cash spending and credit card
zʃ(ə)n/ noun an especially good place spending increase at Christmas.
in a publication for advertising 쑗 If we
are prepared to invest the money we spending money /spendŋ
m ni/
could choose a special position for the noun money for ordinary personal
advertisement. expenses
specialty goods /speʃ(ə)lti "υdz/ spending power noun /spendŋ
plural noun a special type of product
paυə/ the fact of having money to
which sells to a limited market 쑗 We spend on goods 쑗 the spending power of
only deal in specialty goods. 쑗 These the student market 쐽 the amount of
specialty goods require expert personal goods which can be bought for a sum of
selling. 쑗 There’s a high profit margin money 쑗 The spending power of the
on specialty goods. pound has fallen over the last ten years.
specialty store /speʃ(ə)lti stɔ/ sphere /sfə/ noun an area 쑗 a sphere
noun US a shop selling a limited range of activity 쑗 a sphere of influence
of items of good quality spiff noun /spf/ special commission or
specification /
spesfkeʃ(ə)n/ special premium offers given to sales
noun detailed information about what is personnel or agents, based on sales over
needed or about a product to be supplied a specific period. Full form special in-
쑗 to detail the specifications of a com- centive for affiliates 쐽 verb 왍 to spiff
puter system 왍 to work to standard up a product to enhance the sales of a
spinner 254 stagnation

product by offering special incentives to less significant than they once were’
sales personnel [Economist]

spinner /spnə/ noun a revolving spread /spred/ noun two facing pages
stand on which goods are displayed in a in a magazine or newspaper used by an
shop 쑗 There was a spinner with differ- advertiser for a single advertisement
ent types of confectionery at each running across the two pages
checkout. SRDS abbr Standard Rate & Data
spinoff /spnɒf/ noun a useful prod- Service
uct developed as a secondary product stabilisation /
steblazeʃ(ə)n/,
from a main item 쑗 One of the spinoffs stabilization noun the process of mak-
of the research programme has been the ing something stable, e.g. preventing
development of the electric car. sudden changes in prices 왍 stabilisation
split run /splt r n/ noun the printing of the economy keeping the economy
of the same issue of a publication in sev- stable by preventing inflation from ris-
eral production runs, so that different ing, cutting high interest rates and ex-
advertisements may be placed in differ- cess money supply
ent printings, allowing the effects of the stabilise /stebəlaz/, stabilize verb
advertising to be compared to make steady 왍 prices have stabilised
sponsor /spɒnsə/ noun 1. a person prices have stopped moving up or down
who recommends another person for a 왍 to have a stabilising effect on the
job 2. a company which pays part of the economy to make the economy more
cost of making a TV programme by tak- stable
ing advertising time on the programme stability /stəblti/ noun the state of
쐽 verb to act as a sponsor for something being steady or not moving up or down
쑗 a government-sponsored trade exhibi- 쑗 price stability 쑗 a period of economic
tion 쑗 The company has sponsored the stability 쑗 the stability of the currency
football match. markets
sponsorship /spɒnsəʃp/ noun the stable /steb(ə)l/ adjective steady or
act of sponsoring 쑗 the sponsorship of a not moving up or down 쑗 stable prices
season of concerts 쑗 The training 쑗 a stable exchange rate 쑗 a stable cur-
course could not be run without the rency 쑗 a stable economy
sponsorship of several major
companies. stable market /
steb(ə)l mɑkt/
noun a market where sales do not
spot /spɒt/ noun 1. a place for an ad- change much in response to changes in
vertisement on a TV or radio show 2. a price and where demand is therefore
place 왍 to be on the spot to be at a place steady
쑗 We have a man on the spot to deal
with any problems which happen on the staff appraisal /stɑf əprez(ə)l/,
building site. 3. the buying of something staff assessment /stɑf əsesmənt/
for immediate delivery 4. done rapidly noun a report on how well a member of
spot cash /spɒt kʃ/ noun cash paid staff is working
for something bought immediately stage-gate model /sted "et
spot check /spɒt tʃek/ noun a rapid
mɒd(ə)l/ noun a business model for de-
and unannounced check to see if things veloping a new product from conception
are working properly to its launch, where the development is
divided into several stages at the end of
spot colour /spɒt
k lə/ noun one which is a ‘gate’ where the management
colour, apart from black, used in an has to take a decision as to how to pro-
advertisement ceed to the next stage
spot market /spɒt
mɑkt/ noun stagflation /st"fleʃ(ə)n/ noun in-
the market for buying oil for immediate flation and stagnation of an economy
delivery
‘…with most of the world’s oil now traded on stagnation /st"neʃ(ə)n/ noun the
spot markets, Opec’s official prices are much state of not making any progress, espe-
stake 255 standardisation

cially in economic matters 쑗 The coun- of their purchases, the stamps being ex-
try entered a period of stagnation. changeable for more goods or for cash.
stake /stek/ noun an amount of Compare trading stamp
money invested 왍 to have a stake in a stand /stnd/ noun an arrangement of
business to have money invested in a shelves or tables at an exhibition for
business 왍 to acquire a stake in a busi- showing a company’s products
ness to buy shares in a business 쑗 He standard /stndəd/ noun the normal
acquired a 25% stake in the company. 쐽 quality or normal conditions which
verb 왍 to stake money on something to other things are judged against 왍 up to
risk money on something standard of acceptable quality 쑗 This
‘…her stake, which she bought at $1.45 per batch is not up to standard or does not
share, is now worth nearly $10 million’ [Times]
meet our standards. 쐽 adjective normal
‘…other investments include a large stake in a or usual 쑗 a standard model car 쑗 We
Chicago-based insurance company, as well as
interests in tobacco products and hotels’
have a standard charge of £25 for a
[Lloyd’s List] thirty-minute session.
stakeholder /stekhəυldə/ noun 1. a Standard & Poor’s rating
person who has a stake in a business, /
stndəd ən pυəz
retŋ/ noun a
e.g. a shareholder, an employee, or a share-rating service provided by the US
supplier 2. a person or body that is in- agency Standard & Poor
volved with a company or organisation standard costing /
stndəd
either personally or financially and has kɒstŋ/ noun the process of planning
an interest in ensuring that it is success- costs for the period ahead and, at the end
ful (NOTE: A stakeholder may be an of the period, comparing these figures
employee, customer, supplier, partner, with actual costs in order to make neces-
or even the local community within sary adjustments in planning
which an organisation operates.) standard costs /
stndəd kɒsts/
‘…the stakeholder concept is meant to be a new plural noun planned costs for the period
kind of low-cost, flexible personal pension
aimed at those who are less well-off. Whether it
ahead
will really encourage them to put aside money standard deviation /
stndəd
for retirement is a moot point. Ministers said divieʃ(ə)n/ noun the way in which
companies would be able to charge no more
than 1 per cent a year to qualify for the
the results of a sample deviate from the
stakeholder label’ [Financial Times] mean or average
stakeholder theory /stekhəυldə standard error /
stndəd erə/

θər/ noun the theory that a business noun the extent to which chance affects
organisation should base its policies on the accuracy of a sample
the interests of elements outside it such Standard Industrial Classifica-
as suppliers, consumers and the general tion /
stndəd n
d striəl klsf-
public, as well as on its own keʃ(ə)n/ noun the official listing and
profit-making objectives coding of industries and products. Abbr
stall /stɔl/ noun a small moveable SIC
wooden booth, used for selling goods in standardisation /
stndəda-
a market zeʃ(ə)n/, standardization noun the
stallholder /stɔlhəυldə/ noun a per- process of making sure that everything
son who has a stall in a market and pays fits a standard or is produced in the
rent for the site it occupies same way 쑗 standardisation of mea-
surements throughout the EU 쑗 Stan-
stamp duty /stmp
djuti/ noun a dardization of design is necessary if we
tax on legal documents such as the sale want to have a uniform company style. 왍
or purchase of shares, the conveyance of standardisation of products the pro-
a property to a new owner cess of reducing a large number of dif-
stamp trading /stmp
tredŋ/ ferent products to a series which have
noun the giving out of stamps or vouch- the same measurements, design, packag-
ers to customers according to the value ing, etc.
standardise 256 statistical error

standardise /stndədaz/, stan- only one star product but it’s put our
dardize verb to make sure that every- company on the map. 쑗 They’re hoping
thing fits a standard or is produced in that at least two of their new product
the same way range will turn out to be stars.
standard letter /
stndəd letə/ starch ratings /stɑtʃ
retŋz/ plu-
noun a letter which is sent without ral noun US a method of assessing the
change to various correspondents effectiveness of an organisation’s
standard rate /stndəd ret/ noun advertising
a basic rate of income tax which is paid start /stɑt/ noun the beginning
by most taxpayers starting point /stɑtŋ pɔnt/ noun
Standard Rate & Data Service the place where something starts
/
stndəd ret ən detə
s&vs/ an
start-up /stɑt p/ noun 1. the begin-
American publication listing advertising ning of a new company or new product
rates, circulation and other details of 쑗 start-up costs 쑗 We went into the red
major American magazines, newspapers for the first time because of the start-up
and other advertising media. Abbr costs of the new subsidiary in the USA.
SRDS (NOTE: the comparable British
2. a new, usually small business that is
publication is British Rate and Data)
just beginning its operations, especially
standing /stndŋ/ noun a good rep- a new business supported by venture
utation 쑗 The financial standing of a capital and in a sector where new tech-
company. 왍 company of good standing nologies are used
very reputable company state enterprise /
stet entəpraz/
standing order /
stndŋ ɔdə/ noun a company run by the state 쑗 The
noun an order written by a customer bosses of state industries are appointed
asking a bank to pay money regularly to by the government.
an account 쑗 I pay my subscription by
statement /stetmənt/ noun 왍 state-
standing order.
ment (of account) a list of invoices and
standing room only /
stndŋ credits and debits sent by a supplier to a
rum əυnli/ noun a sales technique customer at the end of each month
which suggests to the customer that the
current offer will be available only for a
state-of-the-art /
stet əv ði ɑt/
adjective as technically advanced as
very short time or may be changed in
possible
the near future
‘…each year American manufacturers increase
stand-out test /stnd aυt
test/ their budget for state-of-the-art computer-based
noun a test designed to assess how well hardware and software’ [Duns Business Month]
a package stands out or catches the eye static market /
sttk mɑkt/
on a shelf 쑗 Stand-out tests were car- noun a market which does not increase
ried out to evaluate how effective the or decrease significantly over a period
colour of the new product packaging of time
was.
statistical /stətstk(ə)l/ adjective
staple commodity /
step(ə)l kə- based on figures 쑗 statistical informa-
mɒdti/ noun a basic food or raw tion 쑗 They took two weeks to provide
material the statistical analysis of the opin-
staple industry /
step(ə)l ndəstri/ ion-poll data.
noun the main industry in a country statistical discrepancy /stə-
staple product /
step(ə)l prɒd kt/
tstk(ə)l dskrepənsi/ noun the
noun the main product amount by which sets of figures differ
star /stɑ/ noun in the Boston matrix, a statistical error /stə
tstk(ə)l erə/
product which has a high market share noun the difference between results
and a high growth rate. It will need cash achieved in a survey using a sample and
to finance its growth, but eventually what the results would be using the en-
should become a cash cow. 쑗 We have tire group of people surveyed. 쏡 law
statistics 257 stocktaking

statistics /stətstks/ plural noun stock controller /stɒk kən
trəυlə/

facts or information in the form of fig- noun a person who notes movements of
ures 쑗 to examine the sales statistics for stock
the previous six months 쑗 Government stock depreciation /stɒk dpriʃi-
trade statistics show an increase in
eʃ(ə)n/ noun a reduction in value of
imports. stock which is held in a warehouse for
steady demand /
stedi dmɑnd/ some time
noun demand for a product which con- stock figures /stɒk
f"əz/ plural
tinues in a regular way noun details of how many goods are in
sticker /stkə/ noun a small piece of the warehouse or store
gummed paper or plastic to be stuck on stocking agent /stɒkŋ
edənt/
something as an advertisement or to in- noun a wholesaler who stocks goods for
dicate a price 쐽 verb to put a price a producer, sells them and earns a
sticker on an article for sale 쑗 We had to commission
sticker all the stock. stocking filler /stɒkŋ
flə/ noun a
stickiness /stkinəs/ noun a small item which can be used to put into
website’s ability to retain the interest of a Christmas stocking
visitors and to keep them coming back stock-in-hand /
stɒk n hnd/
sticky site /stki sat/ noun a noun stock held in a shop or warehouse
website that holds the interest of visitors stock-in-trade /
stɒk n tred/ noun
for a substantial amount of time and is goods held by a business for sale
therefore effective as a marketing
vehicle stockist /stɒkst/ noun a person or
shop that stocks an item
stock /stɒk/ noun 1. the available sup- stockkeeping /stɒk
kipŋ/ noun
ply of raw materials 쑗 large stocks of oil
the process of making sure that the cor-
or coal 쑗 the country’s stocks of butter
rect level of stock is maintained (to be
or sugar 2. the quantity of goods for sale
able to meet demand while keeping the
in a warehouse or retail outlet 왍 in stock
costs of holding stock to a minimum)
available in the warehouse or store 쑗 to
hold 2,000 lines in stock 왍 out of stock stockkeeping unit /stɒkkipŋ
not available in the warehouse or store
junt/ noun full form of SKU
쑗 The item went out of stock just before stock level /stɒk
lev(ə)l/ noun the
Christmas but came back into stock in quantity of goods kept in stock 쑗 We try
the first week of January. 쑗 We are out to keep stock levels low during the
of stock of this item. 왍 to take stock to summer.
count the items in a warehouse 3. shares stocklist /stɒklst/ noun a list of
쐽 adjective usually kept in stock 쑗 But- items carried in stock
ter is a stock item for any good grocer.
쐽 verb to hold goods for sale in a ware-
stockout /stɒkəυt/ noun a situation
house or store 쑗 The average supermar- where an item is out of stock
ket stocks more than 4500 lines. stockpile /stɒkpal/ noun the sup-
‘US crude oil stocks fell last week by nearly plies kept by a country or a company in
2.5m barrels’ [Financial Times] case of need 쑗 a stockpile of raw mate-
‘…the stock rose to over $20 a share, higher rials 쐽 verb to buy items and keep them
than the $18 bid’ [Fortune] in case of need 쑗 to stockpile tinned
food
stockbroker /stɒkbrəυkə/ noun
person who buys or sells shares for stockroom /stɒkrum/ noun a room
clients where stores are kept
stock control /stɒk kən
trəυl/ noun stock size /stɒk saz/ noun a normal
the process of making sure that the cor- size 쑗 We only carry stock sizes of
rect level of stock is maintained, to be shoes.
able to meet demand while keeping the stocktaking /stɒktekŋ/,
costs of holding stock to a minimum stocktake /stɒktek/ noun the count-
stocktaking sale 258 storyboard

ing of goods in stock at the end of an ac- plan, usually for a very long time 2. the
counting period 쑗 The warehouse is cost of keeping goods in store 쑗 Storage
closed for the annual stocktaking. rose to 10% of value, so we scrapped
stocktaking sale /stɒktekŋ sel/ the stock. 3. the facility for storing data
noun a sale of goods cheaply to clear a in a computer 쑗 a disk with a storage
warehouse before stocktaking capacity of 100Mb
stock transfer form /
stɒk storage capacity /stɔrd kə-
trnsf& fɔm/ noun a form to be
psti/ noun the space available for
signed by the person transferring shares storage
stock turnover /
stɒk t&nəυvə/ storage company /stɔrd
noun the total value of stock sold in a
k mp(ə)ni/ noun a company which
year divided by the average value of keeps items for customers
goods held in stock storage facilities /stɔrd fə-
stock up /
stɒk  p/ verb to buy sup-
sltiz/ plural noun equipment and
plies of something which you will need buildings suitable for storage
in the future 쑗 They stocked up with storage unit /stɔrd
junt/ noun
computer paper. a device attached to a computer for stor-
stock valuation /
stɒl vlju- ing information on disk or tape
eʃ(ə)n/ noun an estimation of the store /stɔ/ noun 1. a place where
value of stock at the end of an account- goods are kept 2. a quantity of items or
ing period materials kept because they will be
stop /stɒp/ noun not supplying 왍 ac- needed 쑗 I always keep a store of enve-
count on stop an account which is not lopes ready in my desk. 3. a large shop
supplied because it has not paid its latest 쑗 a furniture store 쑗 a big clothing
invoices 쑗 We put their account on stop store 쐽 verb 1. to keep in a warehouse 쑗
and sued them for the money they owed. to store goods for six months 2. to keep
왍 to put a stop on a cheque to tell the for future use 쑗 We store our pay re-
bank not to pay a cheque which you cords on computer.
have written 쐽 verb 왍 to stop an ac- store audit /stɔr
ɔdt/ noun a
count not to supply an account any market-research method by which a re-
more on credit because bills have not search company regularly checks a sam-
been paid 왍 to stop payments not to ple of stores for unit sales and stock
make any further payments levels of different brands
stoppage /stɒpd/ noun the act of store brand /stɔ brnd/ noun a
stopping 쑗 stoppage of payments 쑗 Bad
brand owned by the retailer and not by
weather was responsible for the stop-
the manufacturer
page of deliveries. 쑗 Deliveries will be
late because of stoppages on the pro- store card /stɔ kɑd/ noun a credit
duction line. card issued by a large department store,
‘…the commission noted that in the early 1960s which can only be used for purchases in
there was an average of 203 stoppages each year that store
arising out of dismissals’ [Employment Gazette]
storekeeper /stɔkipə/, storeman
stoppage in transit /
stɒpd n /stɔmən/ noun a person in charge of a
trnzt/ noun the legal right of sellers storeroom
to stop delivery of goods that are in tran-
sit if they have reason to believe cus- storeroom /stɔrum/ noun a room
tomers will not pay for them owing to or small warehouse where stock can be
insolvency kept
storage /stɔrd/ noun 1. the act of store traffic /stɔ
trfk/ noun the
keeping something in store or in a ware- number of customers who enter a store
house 쑗 We let our house and put the storyboard /stɔribɔd/ noun a se-
furniture into storage. 왍 to put a plan ries of drawings which give the outline
into cold storage to postpone work on a of a film or TV advertisement 쑗 If the
straight line depreciation 259 striver

advertiser likes the storyboard, the more effectively than they could if each
agency will go ahead with the idea. operated separately
straight line depreciation /stret strategic planning /strətidk
lan dpriʃi
eʃ(ə)n/ noun deprecia- plnŋ/ noun the process of planning
tion calculated by dividing the cost of an the future work of a company
asset, less its remaining value, by the strategy /strtədi/ noun a plan of
number of years it is likely to be used future action 쑗 a marketing strategy 쑗 a
COMMENT: Various methods of depreci- financial strategy 쑗 a sales strategy 쑗 a
ating assets are used; under the ‘straight pricing strategy 쑗 What is the strategy
line method’, the asset is depreciated at a of the HR department to deal with
constant percentage of its cost each year, long-term manpower requirements? 쑗
while with the ‘reducing balance method’ Part of the company’s strategy to meet
the asset is depreciated at the same per- its marketing objectives is a major re-
centage rate each year, but calculated on cruitment and retraining programme.
the value after the previous year’s depre-
ciation has been deducted.
stratification /
strtfkeʃ(ə)n/
noun 1. the structure of a questionnaire
straight rebuy /stret riba/ noun a which should help to ensure reliable an-
type of organisational buying decision swers and make it easy to evaluate re-
where the same product is bought as be- sults 쑗 The results of the survey are
fore from the same supplier hard to interpret owing to poor ques-
strategic /strətidk/ adjective tionnaire stratification. 쑗 Good stratifi-
based on a plan of action cation will streamline the whole
process. 2. a framework for the selec-
strategic alliance /strə
tidk tion of a sample that ensures that it ade-
əlaəns/ noun an agreement between quately represents the entire group of
two or more organisations to co-operate people surveyed
with each other and share their
knowledge and expertise in a particular streaming /strimŋ/ noun Web
business activity, so that each benefits technology that enables a user who has
from the others’ strengths and gains to download a large amount of material
competitive advantage (NOTE: Strategic to view or listen to part of it while the
alliances can reduce the risk and remainder is being downloaded
costs involved in relationships with streamline /strimlan/ verb to make
suppliers and the development of something more efficient or more sim-
new products and technologies and ple 쑗 to streamline the accounting sys-
have been seen as a response to tem 쑗 to streamline distribution services
globalisation and the increasing uncer- streamlined /strimland/ adjective
tainty in the business environment.) efficient or rapid 쑗 We need a more
strategic business unit /strə- streamlined production system. 쑗 The

tidk bzns
junt/ noun a part or company introduced a streamlined sys-
division of a large company which tem of distribution.
forms its own business strategy. Abbr streamlining /strimlanŋ/ noun
SBU the process of making something
strategic marketing /strə
tidk efficient
mɑktŋ/ noun marketing according street furniture /strit f&ntʃə/
to a set strategy, which is developed af- noun lamps, litter bins, bus shelters,
ter analysing the market, designing the etc., on which advertising can be placed
advertising messages and launching the street vendor /strit vendə/ noun a
product person who sells food or small items in
strategic partnering /strə
tidk the street
pɑtnərŋ/ noun collaboration between striver /stravə/ noun in the VALS
organisations in order to enable them to lifestyle classification, someone who
take advantage of market opportunities likes spending money and wants to ap-
together, or to respond to customers pear successful, rich and fashionable
structure 260 subscription

structure /str ktʃə/ noun the way in subcontractor /
s bkəntrktə/

which something is organised 쑗 the noun a company which has a contract to
price structure in the small car market do work for a main contractor
쑗 the career structure within a corpora- subculture /s bk ltʃə/ noun a part
tion 쑗 The paper gives a diagram of the or sector of society identifiable by fac-
company’s organisational structure. 쑗 tors such as lifestyle, religion and race 쑗
The company is reorganising its dis- Studies were made of spending in the
count structure. 쐽 verb to arrange in a student subculture. 쑗 Different subcul-
specific way 쑗 to structure a meeting tures have different buying priorities.
structured interview /
str ktʃəd subhead /s bhed/, subheading /-
ntəvju/ noun an interview using pre- s bhedŋ/ noun a heading used to di-
set questions and following a fixed pat- vide up text such as an email into sepa-
tern. Compare unstructured interview rate sections
stuff /st f/ verb to put papers into en- subject /s bdkt/ noun the thing
velopes 쑗 We pay casual workers by the which you are talking about or writing
hour for stuffing envelopes or for enve- about
lope stuffing.
subject line /s bdkt lan/ noun
stuffer /st fə/ noun advertising mate- the line at the top of an email which tells
rial that is put in an envelope for mailing the recipient what it is about
style /stal/ noun a way of doing or sublease /s blis/ noun a lease from
making something 쑗 a new style of a tenant to another tenant 쑗 They signed
product 쑗 old-style management a sublease for the property.
techniques
subliminal advertising /s b-
style obsolescence /stal ɒbsə-
lmn(ə)l dvətazŋ/ noun advertis-

les(ə)ns/ noun the redesign of a prod- ing that attempts to leave impressions
uct in order to make previous models on the subconscious mind of the person
obsolete and therefore encourage buying who sees it or hears it without that per-
of the latest one son realising that this is being done
suasionetics /sweənetks/ plural subsample /s bsɑmpəl/ noun a
noun US the techniques used to per- subdivision of a sample
suade people to adopt ideas or behav- subscribe /səbskrab/ verb 왍 to
iour patterns (NOTE: takes a singular subscribe to a magazine or website to
verb) pay for a series of issues of a magazine
sub- /s b/ prefix under or less or for information available on a
important website
sub-agency /s b
edəns/ noun a subscribed circulation /səb-
small agency which is part of a large
skrabd s&kjυleʃ(ə)n/ noun circula-
agency tion of a publication that is paid for in
sub-agent /s b
edənt/ noun a advance
person who is in charge of a sub-agency subscriber /səbskrabə/ noun 왍
subcontract noun /s bkɒntrkt/ a subscriber to a magazine or magazine
contract between the main contractor for subscriber a person who has paid in ad-
a whole project and another firm who vance for a series of issues of a maga-
will do part of the work 쑗 They have zine or to have access to information on
been awarded the subcontract for all the a website 쑗 The extra issue is sent free
electrical work in the new building. 쑗 to subscribers.
We will put the electrical work out to subscription /səbskrpʃən/ noun
subcontract. 쐽 verb /
s bkəntrkt/ money paid in advance for a series of is-
(of a main contractor ) to agree with a
. sues of a magazine, for membership of a
company that they will do part of the society or for access to information on a
work for a project 쑗 The electrical work website 쑗 Did you remember to pay the
has been subcontracted to Smith Ltd. subscription to the computer magazine?
subscription-based publishing 261 supermarket

쑗 She forgot to renew her club subscrip- take the place of someone or something
tion. 왍 to take out a subscription to a else
magazine to start paying for a series of substitute product /s bsttjut
issues of a magazine 왍 to cancel a sub-
prɒd kt/ noun a product which may be
scription to a magazine to stop paying bought instead of another when the
for a series of issues of a magazine price of the original product changes or
subscription-based publishing if it becomes unavailable 쑗 We must
/səb
skrpʃən best p blʃŋ/ noun a match our competitors since they pro-
form of publishing in which readers pay duce substitute products to ours. 쑗 As
a subscription and in return have a mag- the price of substitute products falls,
azine, book, or other publication deliv- they will be much in demand.
ered to them regularly by post or email substitution effect /
s bst-
subscription process /səb- tjuʃ(ə)n 
fekt/ noun the extent to
skrpʃən
prəυses/ noun the process which consumers will change from one
by which users of a website sign up to product to another when the price of the
receive specific information, content, or product rises
services from it suggestion /sədestʃən/ noun an
subscription rate /səbskrpʃən idea which is put forward
ret/ noun the amount of money to be suggestion box /sədestʃən bɒks/
paid for a series of issues of a magazine noun a place in a company where mem-
subsidiary /səbsdiəri/ adjective bers of staff can put forward their ideas
which is less important 쑗 They agreed for making the company more efficient
to most of the conditions in the contract and profitable
but queried one or two subsidiary items.
쐽 noun same as subsidiary company
suggestion scheme /sədestʃən
skim/ noun a scheme in which employ-
쑗 Most of the group profit was contrib-
ees are asked to suggest ways in which
uted by the subsidiaries in the Far East.
the work they do or the way their or-
subsidiary company /səb
sdiəri ganisation operates can be improved
k mp(ə)ni/ noun a company which is and receive a gift or cash reward for
more than 50% owned by a holding useful suggestions
company, and where the holding com-
pany controls the board of directors suggestion selling /sədestʃən

selŋ/ noun selling in such a way that
subsidise /s bsdaz/, subsidize the customer believes they really want
verb to help by giving money 쑗 The the product 쑗 Trainee salespeople learn
government has refused to subsidise the the application of psychology to sugges-
car industry. tion selling.
subsidised accommodation sums chargeable to the reserve
/
s bsdazd əkɒmədeʃ(ə)n/ noun /s mz
tʃɑdəb(ə)l tə ðə rz&v/ plu-
cheap accommodation which is partly ral noun sums which can be debited to a
paid for by an employer or a local company’s reserves
authority
Sunday /s nde/ noun the seventh
subsidy /s bsdi/ noun 1. money day of the week
given to help something which is not
profitable 쑗 The industry exists on gov- Sunday closing /
s nde kləυzŋ/
ernment subsidies. 쑗 The government noun the practice of not opening a shop
has increased its subsidy to the car in- on Sundays
dustry. 2. money given by a government Sunday supplement /
s nde
to make something cheaper 쑗 the sub- s plmənt/ noun a special extra sec-
sidy on rail transport (NOTE: plural is tion of a Sunday newspaper, usually on
subsidies) a special subject
substitute /s bsttjut/ noun a per- supermarket /supəmɑkt/ noun a
son or thing that takes the place of large store, usually selling food and
someone or something else 쐽 verb to household goods, where customers
supermarket trolley 262 supply-side economics

serve themselves and pay at a checkout (NOTE: When this process is under-
쑗 Sales in supermarkets or Supermarket taken after an order has been fulfilled,
sales account for half the company’s it is known as vendor rating.)
turnover. supplier rating /səplaə
retŋ/
supermarket trolley /supəmɑkt noun same as vendor rating

trɒli/ noun a metal basket on wheels, supply /səpla/ noun 1. the act of
used by shoppers to put their purchases providing something which is needed 2.
in as they go round a supermarket 왍 in short supply not available in large
(NOTE: American English is shopping enough quantities to meet the demand 쑗
cart) Spare parts are in short supply because
supernormal profit of the strike. 3. stock of something
/
supənɔm(ə)l prɒft/ noun profit which is needed 쑗 Garages were run-
earned by a business through having a ning short of supplies of petrol. 쑗 Sup-
monopoly 쑗 This company has survived plies of coal to the factory have been hit
the recession owing to supernormal by the rail strike. 쑗 Supplies of statio-
profits. nery have been reduced. 쐽 verb to pro-
supersite /supəsat/ noun a particu- vide something which is needed 쑗 to
larly large poster site 쑗 If we cannot af- supply a factory with spare parts 쑗 The
ford a supersite we will have to settle for finance department supplied the com-
a site on an Underground station. 쑗 mittee with the figures. 쑗 Details of staff
There are some key supersites at the addresses and phone numbers can be
side of the motorway. supplied by the HR department.
superstore /supəstɔ/ noun a very supply and demand /sə
pla ən d-
large self-service store (more than 2,500 mɑnd/ noun the amount of a product
square metres) which sells a wide range which is available and the amount
of goods 쑗 We bought the laptop at a which is wanted by customers
computer superstore. supply chain /səpla tʃen/ noun
supplement /s plmənt/ noun a the manufacturers, wholesalers, distrib-
special addition to a magazine or news- utors and retailers who contribute in
paper which is given free to customers turn to the process of making raw mate-
쑗 The colour supplement is mostly full rials into finished goods and services
of advertising. 쑗 The supplement con- and delivering them to consumers
tains special articles on recent market- supply chain management /sə-
ing strategies. 쑗 What are the pla tʃen
mndmənt/ noun the
advertising rates in that paper’s management of the movement of goods
supplement? and the flow of information between an
supplier /səplaə/ noun a person or organisation and its suppliers and cus-
company that supplies or sells goods or tomers (NOTE: Supply chain manage-
services 쑗 We use the same office equip- ment covers the processes of
ment supplier for all our stationery pur- materials management, logistics,
chases. 쑗 They are major suppliers of physical distribution management, pur-
spare parts to the car industry. chasing, and information manage-
supplier development /səplaə ment.)
d
veləpmənt/ noun the development supply price /səpla pras/ noun the
of close and long-term relationships be- price at which something is provided
tween customers and suppliers that are supply-side economics /səpla
intended to benefit both sad ikə
nɒmks/ noun an economic
supplier evaluation /səplaə theory that governments should encour-
vlju
eʃ(ə)n/ noun the process of as- age producers and suppliers of goods by
sessing potential suppliers of materials, cutting taxes, rather than encourage de-
goods, or services before placing an or- mand by making more money available
der, to find out which one of them will in the economy (NOTE: takes a singular
best satisfy the customer’s requirements verb)
support advertising 263 syndication

support advertising /səpɔt very different from what they wanted to

dvətazŋ/ noun advertising which is buy in the first place 쑗 Trainee sales
designed to support other advertising in staff are coached in switch selling. 쐽
other media verb the practice of offering an appar-
support media /səpɔt
midiə/ ently good bargain as bait in order to
plural noun non-traditional media which gain the attention of prospective cus-
are used to reinforce messages sent to tomers then approaching them with a
target markets through other more tradi- different offer which is more profitable
tional media to the seller
surcharge /s&tʃɑd/ noun an extra SWOT analysis /swɒt ə
nləss/
charge noun a method of developing a market-
surplus /s&pləs/ noun more of ing strategy based on an assessment of
something than is needed 쑗 Profit fig- the Strengths and Weaknesses of the
ures are lower than planned because of company and the Opportunities and
surplus labour. 쑗 Some of the machines Threats in the market
may have to be sold off as there is sur- symbol /smbəl/ noun a sign, picture
plus production capacity. 쑗 We are pro- or object which represents something 쑗
posing to put our surplus staff on short They use a bear as their advertising
time. 왍 these items are surplus to our symbol.
requirements we do not need these symbol group /smbəl "rup/ noun
items 왍 to absorb a surplus to take a a group to which symbol retailers
surplus into a larger amount belong
‘Both imports and exports reached record levels
in the latest year. This generated a $371 million symbol retailer /smbəl
ritelə/
trade surplus in June, the seventh consecutive noun a retailer that is a member of an in-
monthly surplus and close to market dependent group which secures favour-
expectations’
[Dominion (Wellington, New Zealand)] able prices from suppliers through
buying in bulk and has its own symbol
survivor /səvavə/ noun in the or logo
VALS lifestyle classification, someone
with very little money who buys only synchro marketing /sŋkrəυ
what they need
mɑktŋ/ noun the practice of finding
ways to use spare resources during peri-
suspect /s spekt/ noun any individ-
ods of low demand 쑗 Synchro market-
ual taken from a database of prospective
ing will stop wastage of our production
customers
and storage capacity in the off-season.
swatch /swɒtʃ/ noun a small sample
of a fabric 쑗 The interior designer syndicate /sndket/ verb to pro-
showed us swatches of the curtain duce an article, a cartoon, etc., which is
fabric. then published in several newspapers or
magazines
sweep periods /swip
pəriədz/ ‘…over the past few weeks, companies raising
plural noun times of the year when tele- new loans from international banks have been
vision audiences are measured forced to pay more, and an unusually high
number of attempts to syndicate loans among
sweepstake /swipstek/ noun a banks has failed’ [Financial Times]
form of gambling promotion where cus-
tomers put in their names for a draw and syndicated programme
the lucky number wins a prize /
sndketd prəυ"rmz/ noun a
switch /swtʃ/ verb to change from programme which is sold to a range of
one thing to another 쑗 to switch funds different stations across the country
from one investment to another 쑗 The syndicated research /
sndketd
job was switched from our British fac- rs&tʃ/ noun market research carried
tory to the States. out by agencies and sold to several dif-
switch selling noun /swtʃ
selŋ/ a ferent companies
selling technique which involves trying syndication /
sndkeʃ(ə)n/ noun
to persuade customers to buy something an article, drawing, etc., which is pub-
synectics 264 systems selling

lished in several newspapers or maga- crease in orders. 왍 to operate a quota

zines at the same time system to regulate supplies by fixing
synectics /snektks/ plural noun quantities which are allowed 쑗 We ar-
group discussions designed to elicit cre- range our distribution using a quota
ative solutions to problems 쑗 We are system – each agent is allowed only a
beginning to apply synectics to our specific number of units.
strategy formulation. 쑗 Synectics is be- systems analysis /sstəmz
ing encouraged as a method of ap- ə
nləss/ noun the process of using a
proaching case-studies in business computer to suggest how a company can
school. (NOTE: takes a singular verb) work more efficiently by analysing the
synergy /snədi/ noun the process way in which it works at present
of producing greater effects by joining systems analyst /sstəmz
forces than by acting separately 쑗 There
nəlst/ noun a person who specialises
is considerable synergy between the two in systems analysis
companies. systems management /sstəmz
synthetic materials /snθetk mə-
mndmənt/ noun the directing and
təriəlz/ plural noun substances made controlling of all the elements in an or-
as products of a chemical process ganisation to achieve its basic objectives
system /sstəm/ noun an arrange- systems selling /sstəmz
selŋ/
ment or organisation of things which noun the selling of an integrated system,
work together 쑗 Our accounting system not just separate products plus related
has worked well in spite of the large in- services
table 265 takeover bid

table /teb(ə)l/ noun a list of figures terests of each particular newspaper or

or facts set out in columns 왍 table of periodical.
random numbers a table of numbers in
tailor-made /
telə med/ adjective
no particular order or pattern, which is
made to fit specific needs
used for selecting samples in market
research tailor-made promotion /
telə
med prəməυʃ(ə)n/ noun a promotion
table of discounts /
teb(ə)l əv which is specifically made for an indi-
dskaυnts/, discount table
vidual customer
/dskaυnt
teb(ə)l/ noun a table
showing discounts for various prices take /tek/ noun the money received in
and quantities 쑗 According to the table a shop 쑗 Our weekly take is over
of discounts, there was no discount for £5,000. 쐽 verb to receive or to get 왍 the
purchases involving less than 100 items shop takes £2,000 a week the shop re-
of each product. ceives £2,000 a week in cash sales 왍 he
takes home £250 a week his salary, af-
tabloid /tblɔd/ noun a small size of
ter deductions for tax etc., is £250 a
newspaper, as opposed to a broadsheet
쑗 We’re advertising in three tabloids
week
concurrently. takeaway /tekəwe/ noun 1. a shop
which sells food to be eaten at some
tachistoscope /təkstəskəυp/,
other place 쑗 There is no VAT on
T-scope /ti skəυp/ noun a device
takeaway meals. 쑗 There’s a Chinese
used to measure the recognition level
when a customer is exposed to a brand takeaway on the corner of the street. 2.
package or advertising material the food sold by a takeaway
take-ones /tek w nz/ plural noun
tactic /tktk/ noun a way of doing advertising leaflets or promotional cards
things so as to be at an advantage 쑗 Se-
which are delivered to shops where they
curing a key position at an exhibition is
an old tactic which always produces are displayed in racks
good results 쑗 Concentrating our sales takeover /tekəυvə/ noun an act of
force in that area could be a good tactic. buying a controlling interest in a busi-
ness by buying more than 50% of its
tactical /tktk(ə)l/ adjective refer- shares
ring to tactics
‘…many takeovers result in the new
tactical campaign /
tktk(ə)l managers/owners rationalizing the capital of the
kmpen/ noun a promotion that is company through better asset management’
[Duns Business Month]
planned according to a series of targets,
in particular when attacking a takeover bid /tekəυvə bd/ noun
competitor an offer to buy all or a majority of the
tag /t"/ noun a label 쑗 a price tag 쑗 shares in a company so as to control it 쑗
a name tag They made a takeover bid for the com-
pany. 쑗 He had to withdraw his take-
tailor /telə/ verb to design something over bid when he failed to find any
for a specific purpose 쑗 We mail out backers.
press releases tailored to the reader in-
taker 266 team-building

taker /tekə/ noun a person who tariff /trf/ noun a rate of charging
wants to buy 쑗 There were very few tak- for something such as electricity, hotel
ers for the special offer. rooms or train tickets
takings /tekŋz/ plural noun the tariff barrier /trf
briə/ noun the
money received in a shop or a business customs duty intended to make imports
쑗 The week’s takings were stolen from more difficult 쑗 to impose tariff barri-
the cash desk. ers on or to lift tariff barriers from a
tannoy /tnɔ/ noun a loudspeaker product
system for making public task noun /tɑsk/ work which has to be
announcements done 쑗 The job involves some tasks
target /tɑ"t/ noun something to aim which are unpleasant and others which
are more rewarding. 쑗 The candidates
for 왍 to set targets to fix amounts or
are given a series of tasks to complete
quantities which employees have to pro-
within a time limit. 왍 to list task pro-
duce or reach 왍 to meet a target to pro-
cesses to make a list of various parts of a
duce the quantity of goods or sales
job which have to be done 쐽 verb to
which are expected 왍 to miss a target give someone a task to do
not to produce the amount of goods or
sales which are expected 쑗 They missed task method /tɑsk
meθəd/ noun
the target figure of £2m turnover. 쐽 the way of calculating an advertising ap-
verb to aim to sell to somebody 왍 to propriation by basing it on the actual
target a market to plan to sell goods in amount needed to achieve the objectives
a specific market 쑗 I’ll follow up your taste /test/ noun a very small quan-
idea of targeting our address list with a tity of something taken to try it out
special mailing. taste space /test spes/ noun dif-
‘…in a normal leveraged buyout the acquirer ferent individuals or groups brought to-
raises money by borrowing against the assets of
the target company’ [Fortune] gether into a database based on common
interests
‘…the minister is persuading the oil, gas,
electricity and coal industries to target their TAT abbr thematic apperception test
advertising towards energy efficiency’ [Times]
tax credit /tks
kredt/ noun the
‘…he believes that increased competition could part of a dividend on which the com-
keep inflation below the 2.5 per cent target’
[Investors Chronicle]
pany has already paid tax, so that the
shareholder is not taxed on it
target audience /tɑ"t
ɔdiəns/ tax-exempt /tks "zempt/ adjec-
noun consumers at whom an advertise- tive 1. not required to pay tax 2. (of in-
ment is aimed 쑗 TV advertising will fail come or goods) which are not subject to
unless we have a clear idea of who the tax
target audience is for our product. 쑗
What is the best media to reach our tar- tax-free /tksfri/ adjective with no
get audience? tax having to be paid 쑗 tax-free goods
target market /tɑ"t
mɑkt/ noun TC abbr till countermanded
the market in which a company is plan- team /tim/ noun a group of people
ning to sell its goods who work together and cooperate to
target marketing /tɑ"t share work and responsibility

mɑktŋ/ noun the aiming of advertis- team approach /tim ə
prəυtʃ/
ing or selling at a specific group of con- noun a method of measuring the effec-
sumers who all have similar tiveness of an advertising campaign
characteristics when the evaluators are actually in-
target population /tɑ"t pɒpjυ- volved in the campaign

leʃ(ə)n/ noun a group of individuals or team-building /tim
bldŋ/ noun
regions that are to be investigated in a training sessions designed to instil coop-
statistical study eration and solidarity in a group of
workers who work together as a team
tear sheet 267 teletext

tear sheet /teə ʃit/ noun a page telemarketer /tel
mɑktə/ noun a

taken from a published magazine or person who markets a product by
newspaper, sent to an advertiser as proof telephone
that their advertisement has been run telemarketing /tel
mɑktŋ/ noun
teaser /tizə/, teaser ad noun an the selling of a product or service by
advertisement that gives a little infor- telephone
mation about a product in order to telephone /telfəυn/ noun a machine
attract customers by making them curi- used for speaking to someone over a
ous to know more long distance 쑗 We had a new telephone
technical /teknk(ə)l/ adjective re- system installed last week.
ferring to a particular machine or pro- telephone interview /telfəυn
cess 쑗 The document gives all the
ntəvju/ noun same as telephone
technical details on the new computer. survey
‘…market analysts described the falls in the
second half of last week as a technical telephone interview survey
correction’ [Australian Financial Review] /
telfəυn ntəvju s&ve/ noun a sur-
‘…at the end of the day, it was clear the Fed had vey conducted by telephoning a selected
not loosened the monetary reins, and Fed Funds group of people and asking them for
forged ahead on the back of technical demand’ their views on a particular subject
[Financial Times]
telephone kiosk /telfəυn
kiɒsk/
technical press /teknk(ə)l pres/ noun a shelter with a public telephone in
noun newspapers and magazines on sci- it 쑗 There are two telephone kiosks out-
entific or technical subjects 쑗 We need side the post office.
to advertise this product in the technical telephone order /telfəυn
ɔdə/
press. noun an order received by telephone 쑗
technique /teknik/ noun a skilled Since we mailed the catalogue we have
way of doing a job 쑗 The company has received a large number of telephone
developed a new technique for process- orders.
ing steel. 쑗 We have a special technique telephone research /telfəυn r-
for answering complaints from
s&tʃ/ noun same as telephone
customers. survey
technology adoption life cycle telephone sales representative
/tek
nɒlədi ə
dɒpʃən laf
sak(ə)l/ /
telfəυn selz repr
zentətv/ noun
noun a method of describing when and someone who sells to customers over
how people and organisations start to the phone. Abbr TSR
use new technologies, typically classify-
ing them as innovators, early adopters, telephone selling /telfəυn
selŋ/
early majority, late majority, and tech- noun the practice of making sales by
nology laggards, depending on whether phoning prospective customers and try-
they adopt the technologies sooner or ing to persuade them to buy
later telephone survey /telfəυn
technology laggard /teknɒlədi
s&ve/ noun an act of interviewing re-

l"əd/ noun an individual or organisa- spondents by telephone for a survey 쑗
tion that is very slow or reluctant to How many people in the sample hung up
adopt new technology before replying to the telephone survey?
telcos /telkəυz/ plural noun telecom- telesales /teli
selz/ plural noun
munications companies (informal ) .
sales made by telephone
teleconferencing /teli- teleshopping /tel
ʃɒpŋ/ noun

kɒnf(ə)rənsŋ/ noun the use of tele- shopping from home by means of a tele-
phone or television channels to connect vision screen and a home computer
people in different locations in order to teletext /teltekst/ noun a videotext
conduct group discussions, meetings, broadcast by a TV company, e.g. Ceefax
conferences, or courses on BBC or Oracle on ITV
television 268 tertiary readership

television /
telv(ə)n/ noun the carried out as part of a contract, or the

broadcasting of moving images. Abbr arrangements which have to be agreed
TV before a contract is valid 쑗 By or
television consumer audit Under the terms of the contract, the
/
telv(ə)n kənsjumə
ɔdt/ noun company is responsible for all damage
an act of questioning a sample of televi- to the property. 쑗 to negotiate for better
sion viewers on their viewing and terms 쑗 He refused to agree to some of
impressions the terms of the contract. 왍 ‘terms:
cash with order’ the terms of sale
television network /
telv(ə)n
showing that payment has to be made in
netw&k/ noun a system of linked tele-
cash when the order is placed
vision stations covering the whole ‘…companies have been improving
country communications, often as part of deals to cut
television ratings /telv(ə)n down demarcation and to give everybody the

retŋz/ plural noun statistics showing same terms of employment’ [Economist]
the size and type of television audiences terms of payment /
t&mz əv
at different times of day for various pemənt/ plural noun the conditions
channels and programmes 쑗 We will for paying something
have to consult the TV ratings before terms of sale /
t&mz əv sel/ plural
buying a spot. Abbr TVR noun the conditions attached to a sale
tender /tendə/ noun an offer to do terms of trade /
t&mz əv tred/
something for a specific price 쑗 a suc- plural noun the ratio of a country’s im-
cessful tender 쑗 an unsuccessful tender port prices to export prices
왍 to put a project out to tender or to territorial planning /
tertɔriəl
ask for/invite tenders for a project to plnŋ/ noun the planning of a sales-
ask contractors to give written estimates person’s calls, taking into account the
for a job 왍 to put in/submit a tender to best use of time in travelling and the pri-
make an estimate for a job 왍 to sell ority of important customers 쑗 The
shares by tender to ask people to offer sales manager is giving the sales team
in writing a price for shares 쐽 verb 왍 to some guidelines on territorial planning.
tender for a contract to put forward an 쑗 Bad territorial planning means time
estimate of cost for work to be carried wasted in travelling.
out under contract 쑗 to tender for the
construction of a hospital territorial rights /
tertɔriəl rats/
plural noun the rights of a distributor,
tenderer /tendərə/ noun a person or granted by the producer or supplier, to
company that tenders for work 쑗 The sell a product in a particular geograph-
company was the successful tenderer for ical area, often on condition that specific
the project. methods are used in the selling
tendering /tendərŋ/ noun the act of territory /tert(ə)ri/ noun an area vis-
putting forward an estimate of cost 쑗 To ited by a salesperson 쑗 We are adding
be successful, you must follow the ten- two new reps and reducing all the reps’
dering procedure as laid out in the territories. 쑗 Her territory covers all the
documents. north of the country.
terminal /t&mn(ə)l/ noun the build- tertiary industry /
t&ʃəri ndəstri/
ing where you end a journey noun an industry which does not pro-
terminal poster /t&mn(ə)l duce raw materials or manufacture prod-

pəυstəz/ noun an advertising display ucts but offers a service such as
in stations or airline terminals, etc. banking, retailing, accountancy
termination clause /
t&m- tertiary readership /
t&ʃəri
neʃ(ə)n klɔz/ noun a clause which ridəʃp/ noun the people who do not
explains how and when a contract can buy a newspaper or magazine but come
be terminated across it as a result of another activity
terms /t&mz/ plural noun the con- such as waiting for an appointment with
ditions or duties which have to be the dentist 쑗 Many glossy magazines
tertiary sector 269 tie-in

have a relatively small circulation but a validity of the approach before launch-
high tertiary readership. ing a nationwide marketing campaign
tertiary sector /t&ʃəri
sektə/ noun test panel /test
pn(ə)l/ noun a
the section of the economy containing group of people used to test a product or
the service industries service
test /test/ noun an examination to see test run /test r n/ noun a trial made
if something works well or is possible 쐽 on a machine
verb to examine something to see if it is text /tekst/ verb to send a text message
working well 쑗 We are still testing the on a mobile phone or pager
new computer system. 왍 to test the
market for a product to show samples
text message /tekst mesd/ noun
a message sent in text form, especially
of a product in a market to see if it will
from one mobile phone or pager to
sell well 쑗 We are testing the market for
another
the toothpaste in Scotland.
T-group /ti "rup/ noun a group of
test certificate /test sə
tfkət/ trainees following a training method, of-
noun a certificate to show that some- ten used in training sales staff, which
thing has passed a test uses group discussions and activities to
test close /test kləυz/ noun an act develop social skills and general
of trying to obtain at least one immedi- self-awareness
ate order from a buyer to see how prom- thematic apperception test /θ-
ising a customer they are
mtk
pəseps(ə)n test/ noun a test
test-drive /test drav/ verb 왍 to used to find out attitudes or reactions to
test-drive a car to drive a car before a brand, which consists of showing pic-
buying it to see if it works well tures to the subject who then constructs
testimonial /
testməυniəl/ noun a a story round them. Abbr TAT
written report about someone’s charac- thinker /θŋkə/ noun in the VALS
ter or ability 쑗 She has asked me to lifestyle classification system, a
write her a testimonial. well-educated person with strong ideals
testimonial advertising /
test- who buys products that last a long time
məυniəl
dvətazŋ/ noun advertis- and are good value
ing which makes use of testimonials threshold /θreʃ
həυld/ noun the
from famous or qualified people, or point at which something changes
from satisfied customers, to endorse a ticket /tkt/ noun a piece of paper or
product card which shows something
testing /testŋ/ noun the act of exam- ticket counter /tkt
kaυntə/ noun
ining something to see if it works well 쑗 a place where tickets are sold
During the testing of the system several
defects were corrected.
tie /ta/ verb to attach or to fasten with
string, wire, or other material 쑗 He tied
testing bias /testŋ baəs/ noun the parcel with thick string. 쑗 She tied
bias that occurs when respondents to two labels on to the parcel. (NOTE: tying
questionnaires know they are being – tied)
tested and change their responses tied shop /tad ʃɒp/ noun a business
accordingly which has agreed to sell only a particu-
test-market /test
mɔkt/ verb 왍 to lar supplier’s products 쑗 The store felt
test-market a product to show samples constrained by the tied shop agreement
of a product in a market to see if it will and wanted to offer a wider range of
sell well 쑗 We are test-marketing the brands.
toothpaste in Scotland. tie-in /ta n/ noun an advertisement
test marketing /test
mɑktŋ/ linked to advertising in another media,
noun marketing a product in a specific e.g. a magazine ad linked to a TV com-
area or to a specific audience to test the mercial (NOTE: plural is tie-ins)
tie-up 270 top-down information

tie-up /ta p/ noun a link or connec- time series analysis /tam
səriz
tion 쑗 The company has a tie-up with a ə
nləss/ noun a method of assessing
German distributor. (NOTE: plural is variations in data over regular periods of
tie-ups) time such as sales per month or per
till /tl/ noun a drawer for keeping cash quarter in order to try to identify the
in a shop causes for the variations
till countermanded /tl time utility /tam ju
tlti/ noun the
kaυntəmɑndd/ noun a clause in a usefulness to a customer of receiving a
contract which states that an advertise- product at a particular time 쑗 Time util-
ment will run until stopped by the ad- ity has meant avoiding unreliable sup-
vertiser. Abbr TC pliers. 쑗 Some customers put time utility
before place utility.
time /tam/ noun 1. a period during
which something takes place, e.g. one tip /tp/ noun 1. money given to some-
hour, two days, fifty minutes, etc. 2. a one who has helped you 쑗 I gave the
period before something happens 왍 to taxi driver a 10 cent tip. 쑗 The staff are
keep within the time limits or within not allowed to accept tips. 2. a piece of
the time schedule to complete work by advice on buying or doing something
the time stated which could be profitable 쑗 The news-
paper gave several stock market tips. 쑗
time and duty study /
tam ən She gave me a tip about a share which
djuti
st di/ noun a study to see how was likely to rise because of a takeover
effectively salespeople are using their bid. 쐽 verb 1. to give money to some-
time 쑗 The time and duty study showed one who has helped you 쑗 She tipped
that 30% of time is wasted. 쑗 The aim of the receptionist £5. 2. to say that some-
the time and duty study was to stream- thing is likely to happen or that some-
line our sales activities. thing might be profitable 쑗 He is tipped
time and motion expert /
tam ən to become the next chairman. 쑗 Two
məυʃ(ə)n
eksp&t/ noun a person shares were tipped in the business sec-
who analyses time and motion studies tion of the paper. (NOTE: tipping –
and suggests changes in the way work is tipped)
done tip sheet /tp ʃit/ noun a newspaper
time buyer /tam
baə/ noun a per- which gives information about shares
son who buys advertising time on radio which should be bought or sold
or TV TIR abbr Transports Internationaux
timelength /tamleŋkθ/ noun the Routiers
length of a cinema, television or radio token /təυkən/ noun 1. something
advertisement 쑗 Find out the rates for which acts as a sign or symbol 2. a de-
the various timelengths before placing vice which involves the customer in an
the commercial. offer, e.g. a piece cut out of a newspaper
time limit /tam
lmt/ noun the which can be redeemed for a special
maximum time which can be taken to do premium offer 3. a plastic or metal disk,
something 쑗 to set a time limit for ac- similar to a coin, used in some slot
ceptance of the offer machines
time limitation /tam lm
teʃ(ə)n/ token charge /təυkən tʃɑd/ noun
noun the restriction of the amount of a small charge which does not cover the
time available real costs 쑗 A token charge is made for
time of peak demand /
tam əv heating.
pik dmɑnd/ noun the time when token payment /təυkən
pemənt/
something is being used most noun a small payment to show that a
time segment /tam
se"mənt/ payment is being made
noun a period set aside for advertise- top-down information /
tɒp daυn
ments on television nfəmeʃ(ə)n/ noun a system of pass-
top-grade 271 trade barrier

ing information down from manage- total offer /
təυt(ə)l ɒfə/ noun a
ment to the workforce complete package offered to the cus-
top-grade /tɒp "red/ adjective of tomer including the product or service
the best quality 쑗 top-grade petrol itself, its price, availability and
promotion
top management /tɒp
mndmənt/ noun the main directors total quality management (TQM)
of a company /
təυt(ə)l kwɒlti
mndmənt/
noun a philosophy and style of manage-
top-selling /tɒp selŋ/ adjective ment that gives everyone in an organisa-
which sells better than all other products tion responsibility for delivering quality
쑗 top-selling brands of toothpaste to the customer (NOTE: Total quality
tort /tɔt/ noun harm done to a person management views each production
or property which can be the basis of a process as being in a customer/sup-
civil lawsuit plier relationship with the next, so that
torture testing /tɔtʃə
testŋ/ the aim at each stage is to define and
noun the act of pushing products to their meet the customer’s requirements as
limits during product testing 쑗 Torture precisely as possible.)
testing will show up any product defi- tracking /trkŋ/ noun monitoring
ciencies while changes can still be changes in the way the public sees a
made. product or a firm, done over a period of
total /təυt(ə)l/ adjective complete or years
with everything added together 쑗 The trade /tred/ noun 1. the business of
total amount owed is now £1000. 쑗 The buying and selling 2. 왍 to do a good
company has total assets of over £1bn. trade in a range of products to sell a
쑗 The total cost was much more than large number of a range of products 3. a
expected. 쑗 Total expenditure on pub- particular type of business, or people or
licity is twice that of last year. 쑗 Our to- companies dealing in the same type of
tal income from exports rose last year. product 쑗 He’s in the secondhand car
total audience package /
təυt(ə)l trade. 쑗 She’s very well known in the
ɔdiəns
pkd/ noun a media clothing trade.
‘…a sharp setback in foreign trade accounted
owner’s arrangement or scheduling of for most of the winter slowdown. The trade
advertisements across time segments on balance sank $17 billion’ [Fortune]
television and radio ‘…trade between Britain and other countries
total cost of ownership /
təυt(ə)l which comprise the Economic Community has
kɒst əv əυnəʃp/ noun a method of risen steadily from 33% of exports to 50% last
year’ [Sales & Marketing Management]
calculating the costs of buying and
using a product or service that, in ‘Brazil’s trade surplus is vulnerable both to a
slowdown in the American economy and a
addition to the purchase cost of the item, pick-up in its own’ [Economist]
takes into account related costs such
as ordering, delivery, subsequent us- trade advertising /tred
age and maintenance, supplier costs
dvətazŋ/ noun advertising to trade
and after-delivery costs customers and not to the general public
total distribution system trade agreement /tred
/
təυt(ə)l dstrbjuʃ(ə)n
sstəm/ ə
"rimənt/ noun an international
noun a system where all distribution agreement between countries over gen-
decisions, including the purchasing of eral terms of trade
raw materials and parts, as well as the trade association /tred əsəυsi-
movement of finished products, are
eʃ(ə)n/ noun a group which links to-
taken globally gether companies in the same trade
total invoice value /
təυt(ə)l trade barrier /tred
briə/ noun a
nvɔs
vlju/ noun the total amount limitation imposed by a government on
on an invoice, including transport, VAT, the free exchange of goods between
etc. countries (NOTE: NTBs, safety stan-
trade counter 272 trade show

dards and tariffs are typical trade barri- bought a new car and gave her old one
ers.) as a trade-in.
trade counter /tred
kaυntə/ noun trade-in price /tred n pras/,
a shop in a factory or warehouse where trade-in allowance /tred n ə-
goods are sold to retailers
laυəns/ noun an amount allowed by the
trade cycle /tred
sak(ə)l/ noun a seller for an old item being traded in for
period during which trade expands, then a new one
slows down, then expands again trade magazine /tred m"ə
zin/
trade debtor /tred
detə/ noun a noun a magazine aimed at working peo-
debtor who ows money to a company in ple in a specific industry
the normal course of that company’s trademark /tredmɑk/, trade name
trading /tred nem/ noun a particular name,
trade delegation /tred delə- design, etc. which has been registered

"eʃ(ə)n/ noun a group of official dele- by the manufacturer and which cannot
gates on a commercial visit be used by other manufacturers (it is an
‘intangible asset’) 쑗 You can’t call your
trade description /tred d- beds ‘Softn’kumfi’ – it is a registered
skrpʃən/ noun a description of a prod- trademark.
uct to attract customers
trade mission /tred
mʃ(ə)n/
Trade Descriptions Act /
tred d- noun a visit by a group of
skrpʃənz kt/ noun an act which businesspeople to discuss trade 쑗 He led
limits the way in which products can be a trade mission to China.
described so as to protect customers
from wrong descriptions made by trade-off /tred ɒf/ noun an act of ex-
manufacturers changing one thing for another as part of
a business deal (NOTE: plural is
trade directory /tred da
rekt(ə)ri/ trade-offs)
noun a book which lists all the busi-
nesses and business people in a town trade-off analysis /tred ɒf ə-

nləss/ noun same as conjoint
trade down /
tredŋ daυn/ verb to analysis
move to selling at lower prices to in-
crease sales volume 쑗 We’re trading trade paper /tred pepə/ noun a
down now because too many customers newspaper aimed at people working in a
were put off by our high prices. specific industry
trade fair /tred feə/ noun a large ex- trade price /tred pras/ noun a spe-
hibition and meeting for advertising and cial wholesale price paid by a retailer to
selling a specific type of product 쑗 the manufacturer or wholesaler
There are two trade fairs running in trade promotion /tred prə-
London at the same time – the carpet
məυʃ(ə)n/ noun the promotion of
manufacturers’ and the mobile products to distributors 쑗 The new trade
telephones. promotion campaign is designed to at-
trade gap /tred "p/ noun the dif- tract wholesalers in all our areas of
ference in value between a country’s distribution.
imports and exports trader /tredə/ noun a person who
trade in /
tred n/ verb 1. to buy and does business
sell specific items 쑗 The company trade route /tred rut/ noun a route
trades in imported goods. 쑗 They trade along which goods are transported for
in French wine. 2. to give in an old item trade 쑗 The main trade routes were
as part of the payment for a new one 쑗 studied to see which areas of the coun-
The chairman traded in his old Rolls try were most accessible. 쑗 When the
Royce for a new model. Suez Canal was closed some vital trade
trade-in /tred n/ noun an old item, routes were affected.
e.g. a car or washing machine, given as trade show /tred ʃəυ/ noun same as
part of the payment for a new one 쑗 She trade fair
tradesman 273 transfer pricing

tradesman /tredzmən/ noun a traffic /trfk/ noun illegal trade 쑗

shopkeeper (NOTE: plural is drugs traffic or traffic in drugs
tradesmen) traffic builder /trfk
bldə/ noun
tradespeople /tredz
pip(ə)l/ plu- a software programme which increases
ral noun shopkeepers traffic to a website, by linking with
trade terms /tred t&mz/ plural search engines, etc.
noun a special discount for people in the training levy /trenŋ
levi/ noun a
same trade tax to be paid by companies to fund the
trade up /
tred  p/ verb to move to government’s training schemes
selling more expensive goods or to of- tramp ship /trmp ʃp/ noun a ship
fering a more up-market service with no fixed schedule or itinerary that
trading /tredŋ/ noun the business of can be chartered by a company to trans-
buying and selling port goods
trading account /tredŋ ə
kaυnt/ transaction /trnzkʃən/ noun a
noun an account of a company’s gross piece of business 왍 fraudulent transac-
profit tion a transaction which aims to cheat
someone
trading area /tredŋ
eəriə/ noun a ‘…the Japan Financial Intelligence Office will
group of countries which trade with receive reports on suspected criminal
each other transactions from financial institutions,
determine where a probe should be launched
trading channel /tredŋ
tʃn(ə)l/ and provide information to investigators’
noun a series of purchases and sales [Nikkei Weekly]
from company to company which are
made until the finished product is pur- transaction e-commerce
/trn
zkʃən i kɒm&s/ noun the
chased by the customer
electronic sale of goods and ser-
trading company /tredŋ vices, either business-to-business or

k mp(ə)ni/ noun a company which business-to-customer
specialises in buying and selling goods
transfer noun /trnsf&/ an act of
trading estate /tredŋ 
stet/ moving an employee to another job in
noun an area of land near a town spe- the same organisation 쑗 He applied for
cially for building factories and a transfer to our branch in Scotland. 쐽
warehouses verb /trnsf&/ to move someone or
trading loss /tredŋ lɒs/ noun a sit- something to a new place 쑗 The accoun-
uation where a company’s receipts are tant was transferred to our Scottish
less than its expenditure branch. 쑗 He transferred his shares to a
family trust. 쑗 She transferred her
trading partner /tredŋ
pɑtnə/ money to a deposit account.
noun a company or country which
trades with another transferable skill /trns
f&rəb(ə)l
skl/ noun a skill that is not related to
trading profit /tredŋ
prɒft/ noun the performance of a particular job or
a result where the company’ receipts are task (NOTE: The skills that make people
higher than its expenditure good at leadership, communication,
trading stamp /tredŋ stmp/ critical thinking, analysis or organisa-
noun a special stamp given away by a tion are among those thought of as
shop, which the customer can collect transferable skills.)
and exchange later for free goods transfer pricing /trnsf&
prasŋ/
Trading Standards Office noun prices used in a large organisation
/
tredŋ stndədz
ɒfs/ noun a UK for selling goods or services between
government department responsible for departments in the same organisation;
such matters as making sure that adver- also used in multinational corporations
tisements are true or that weighing ma- to transfer transactions from one coun-
chines are correct try to another to avoid paying tax
transformational advertising 274 treaty

transformational advertising transportation /
trnspɔteʃ(ə)n/

/
trnsfəmeʃ(ə)n(ə)l dvətazŋ/ noun 1. the moving of goods or people
noun a form of emotional advertising from one place to another 2. vehicles
that aims to relate emotional expe- used to move goods or people from one
riences to the product or service being place to another 쑗 The company will
advertised, and then tries to change provide transportation to the airport.
these emotions into an active interest in transporter /trnspɔtə/ noun a
purchasing company which transports goods
tranship /trnʃp/ verb to move Transports Internationaux
cargo from one ship to another (NOTE: Routiers /
trɔnspɔz nte
nsjə-
transhipping – transhipped) nəυ
rutie/ noun a system of interna-
transient advertisement tional documents which allows dutiable
/
trnziənt ədv&tsmənt/ noun an goods to cross several European coun-
advertisement which the target audi- tries by road without paying duty until
ence cannot keep to look at again, they reach their final destination. Abbr
e.g. a cinema advertisement, as opposed TIR
to an intransient one in a newspaper or transship /trnsʃp/ noun another
magazine spelling of tranship
transit /trnst/ noun the movement travel /trv(ə)l/ verb to go from one
of passengers or goods on the way to a place to another, showing a company’s
destination 쑗 Some of the goods were goods to buyers and taking orders from
damaged in transit. 왍 goods in transit them 쑗 She travels in the north of the
goods being transported from ware- country for an insurance company.
house to customer (NOTE: travelling – travelled. The
transit advertising /trnst American spelling is traveling –

dvətazŋ/ noun advertisements on traveled)
or inside buses, taxis, trains, etc. traveller /trv(ə)lə/ noun a person
transnational corporation /trnz who travels (NOTE: the American spell-

nʃ(ə)n(ə)l kɔpəreʃ(ə)n/ noun a ing is traveler)
large company which operates in vari- traveller’s cheques /trv(ə)ləz
ous countries tʃeks/ plural noun cheques bought by a
transport noun /trnspɔt/ the mov- traveller which can be cashed in a for-
ing of goods or people 쑗 air transport eign country
or transport by air 쑗 rail transport or travelling expenses /trv(ə)lŋ
transport by rail 쑗 road transport or ek
spensz/ plural noun money spent
transport by road 쑗 the passenger on travelling and hotels for business
transport services into London 쑗 What purposes
means of transport will you use to get to travelling salesman /
trv(ə)lŋ
the factory? 쐽 verb /trnspɔt/ to selzmən/ noun a salesman who trav-
move goods or people from one place to els around an area visiting customers on
another in a vehicle 쑗 The company behalf of his company 쑗 Travelling
transports millions of tons of goods by salesmen must make regular contact
rail each year. 쑗 The visitors will be with company headquarters by phone.
transported to the factory by air or by
helicopter or by taxi. travel magazine /trv(ə)l m"ə-

zin/ noun a magazine with articles on
transport advertising /trnspɔt holidays and travel

dvətazŋ/ noun advertising appear-
ing on or in forms of transportation such travel organisation /trv(ə)l
as buses or trains 쑗 Transport advertis- ɔ"əna
zeʃ(ə)n/ noun a body repre-
ing will reach too broad a public for our senting companies in the travel business
product. 쑗 Is your transport advertising treaty /triti/ noun 1. an agreement
on the sides of buses or in Underground between countries 쑗 The two countries
trains? signed a commercial treaty. 2. an agree-
trend 275 turn round

ment between individual persons 왍 to truckage /tr kd/ noun the carriage
sell a house by private treaty to sell a of goods in trucks 쑗 What will the truck-
home to another person not by auction age costs be for these goods?
trend /trend/ noun a general way truck distributor /tr k d-
things are going 쑗 a downward trend in
strbjυtə/, truck jobber /tr k
investment 쑗 There is a trend away from
dɒbə/ noun US a wholesaler who
old-established food stores. 쑗 The re- usually only delivers goods directly by
port points to inflationary trends in the truck to retailers
economy. 쑗 We notice a general trend trucking /tr kŋ/ noun the carrying
towards selling to the student market. 쑗 of goods in trucks 쑗 a trucking firm
We have noticed an upward trend in trust /tr st/ noun US a small group of
sales. companies which control the supply of a
‘…the quality of building design and ease of
accessibility will become increasingly product
important, adding to the trend towards trustbusting /tr stb stŋ/ noun US
out-of-town office development’ [Lloyd’s List] the breaking up of monopolies to en-
trend analysis /trend ə
nləss/ courage competition
noun analysis of particular statistics T-scope /ti skəυp/ noun same as
over a period of time in order to identify tachistoscope
trends 쑗 Trend analysis has shown how
soon major competitors begin to copy TSR abbr telephone sales
innovations. representative
trial noun /traəl/ a test to see if some- tube card /tjub kɑd/ noun a card
thing is good 왍 on trial in the process of with an advertisement on which is either
being tested 쑗 The product is on trial in put on the walls of Underground sta-
our laboratories. 쐽 verb to test a prod- tions or inside Underground trains 쑗
uct to see how good it is (NOTE: Half the tube cards in one carriage were
trialling- trialled)
advertising the same product. 쑗 The
Underground railway system uses tube
trial balance /traəl
bləns/ noun cards to advertise its own services.
the draft calculation of debits and cred-
turnkey contract /t&nki
its to see if they balance

kɒntrkt/ noun an agreement by
trial offer /traəl
ɒfə/ noun a promo- which a contractor undertakes to design,
tion where free samples are given away construct and manage something and
trial period /traəl
pəriəd/ noun only hand it over to the client when it is
the time when a customer can test a in a state where it is ready for immediate
product before buying it use
trial sample /traəl
sɑmpəl/ noun turn over /
t&n əυvə/ verb to have a
a small piece of a product used for specific amount of sales 쑗 We turn over
testing £2,000 a week.
triplicate /trplkət/ noun 왍 invoic- ‘…a 100,000 square foot warehouse can turn its
inventory over 18 times a year, more than triple
ing in triplicate the preparing of three a discounter’s turnover’ [Duns Business Month]
copies of invoices
turnover /t&nəυvə/ noun 1. GB the
troll /trəυl, trɒl/ verb to search amount of sales of goods or services by
websites for Internet addresses which a company 쑗 The company’s turnover
are then added to an email address list has increased by 235%. 쑗 We based our
for promotional purposes calculations on the forecast turnover.
trolley /trɒli/ noun a small metal cart (NOTE: the American equivalent is
which is used by customers in super- sales volume) 2. the number of times
markets to carry their shopping (NOTE: something is used or sold in a period,
American English is shopping cart) usually one year, expressed as a percent-
truck /tr k/ noun 1. a large motor ve- age of a total
hicle for carrying goods 2. an open rail- turn round /
t&n raυnd/ verb to
way wagon for carrying goods make a company change from making a
turnround 276 tyrekicker

loss to become profitable 왍 they turned twin-pack /twn pk/ noun a banded
the company round in less than a year pack of two items sold together
they made the company profitable in 24/7 /
twenti fɔ sev(ə)n/ adverb
less than a year twenty-four hours a day, every day of
turnround /t&nraυnd/ noun 1. the the week (NOTE: Businesses often ad-
value of goods sold during a year di- vertise themselves as being ‘open
vided by the average value of goods 24/7’.)
held in stock (NOTE: American English 24-hour service /
twenti fɔr aυə
is turnaround) 2. the action of empty- s&vs/ noun help which is available
ing a ship, plane, etc., and getting it for the whole day
ready for another commercial journey two-sided message /
tu sadd
(NOTE: American English is turn- mesd/ noun a message which pres-
around) 3. the act of making a com- ents two arguments for purchasing a
pany profitable again (NOTE: American product or service
English is turnaround)
tying contract /taŋ
kɒntrkt/ a
‘…the US now accounts for more than half our
world-wide sales; it has made a huge contract under which a producer sells a
contribution to our earnings turnround’ product to a distributor on condition that
[Duns Business Month] the distributor also buys another product
쑗 Tying contracts are used to get whole-
TV abbr television
salers acquainted with lesser-known
TVR abbr television ratings products.
TV spot /ti vi spɒt/ noun a short typological analysis /tapə-
period on TV which is used for com-
lɒdk(ə)l ənləss/ noun a categori-
mercials 쑗 We are running a series of sation of households based on
TV spots over the next three weeks. socio-economic factors and buying hab-
twenty-four-hour trading /
twenti its 쑗 Typological analysis helped the
fɔ aυə tredŋ/ noun trading in bonds, company clarify what market segments
currencies or securities that can take the new product should be aimed at.
place at any time of day or night (NOTE: tyrekicker /taə
kkə/ noun a pro-
Twenty-four-hour trading does not in- spective customer who wants to exam-
volve one trading floor being open all ine every option before making up his or
the time, but instead refers to the pos- her mind about a purchase (as opposed
sibility of conducting operations at dif- to a ‘first choice’ who chooses the first
ferent locations in different time option available) (NOTE: The usual US
zones.) spelling is tirekicker.)
ultimate 277 underpayment

ultimate / ltmət/ adjective last or under- / ndə/ prefix less important

final than or lower than
ultimate consumer /
ltmət kən- underbid /
ndəbd/ verb to bid less
sjumə/ noun the person who actually than someone (NOTE: underbidding –
uses the product underbid)
umbrella advertising / mbrelə underbidder / ndəbdə/ noun a per-

dvətazŋ/ noun the advertising of an son who bids less than the person who
organisation or an association of compa- buys at an auction
nies rather than a single product undercharge /
ndətʃɑd/ verb to
umbrella organisation / mbrelə ask for too little money 쑗 She under-

ɔ"ənazeʃ(ə)n/ noun a large organi- charged us by £25.
sation which includes several smaller underclass / ndəklɑs/ noun a
ones group of people who are underprivi-
unaided recall / n
edd rikɔl/ leged in a way that appears to exclude
noun same as unprompted recall them from mainstream society
unavailability /
nəveləblti/ undercut /
ndək t/ verb to offer
noun the fact of not being available 쑗 something at a lower price than some-
The unavailability of any reliable sales one else 쑗 They increased their market
data makes forecasting difficult. share by undercutting their competitors.
(NOTE: undercutting- undercut)
unavailable /
nəveləb(ə)l/ adjec-
tive not available 쑗 The following items underdeveloped /
ndədveləpt/
on your order are temporarily adjective which has not been developed
쑗 Japan is an underdeveloped market
unavailable.
for our products.
uncontrollable /
nkəntrəυləb(ə)l/ underdeveloped countries
adjective which cannot be controlled 쑗
/
ndədveləpt k ntriz/ plural noun
uncontrollable inflation
countries which are not fully
uncontrollable variable / nkən- industrialised

trəυləb(ə)l veəriəb(ə)l/ noun a vari- underdeveloped market
able or factor in marketing that cannot /
ndədveləpt mɑkt/ noun a market
be controlled, e.g. legislation or the state which has not been fully exploited 쑗 Ja-
of the country’s economy 쑗 There are pan is an underdeveloped market for
too many uncontrollable variables for our products.
any real planning. 쑗 Changes in fashion
constitute a dangerous uncontrollable underlease / ndəlis/ noun lease
variable for a clothes shop. from a tenant to another tenant
uncrossed cheque /
nkrɒst underline / ndəlan/ noun a short
tʃek/ noun a cheque which does not description printed underneath an
have two lines across it, and can be illustration
cashed anywhere (NOTE: They are no underpayment /
ndəpemənt/
longer used in the UK, but are still noun a payment of less than the correct
found in other countries.) invoiced amount
underpricing 278 unique selling point

underpricing /
ndəprasŋ/ noun salesforce were discouraged from exert-

the charging of a lower price than is jus- ing undue influence on prospective
tified by demand 쑗 The company’s un- buyers.
derpricing is due to ignorance of the uneven / niv(ə)n/ adjective not
growing market. 쑗 Underpricing can be smooth or flat
used as a strategy to increase market uneven playing field / n
iv(ə)n
share. pleŋ fild/ noun a situation where the
undersell /
ndəsel/ verb to sell competing groups do not compete on
more cheaply than 쑗 to undersell a com- the same terms and conditions (NOTE:
petitor 왍 the company is never under- The opposite is a ‘level playing field’.)
sold no other company sells goods as unfair / nfeə/ adjective not just or
cheaply as this one reasonable
under-the-counter sales /
ndə unfair competition /
nfeə kɒmpə-
ðə
kaυntə selz/ plural noun tʃ(ə)n/ noun the practice of trying to
black-market sales do better than another company by us-
undervaluation /
ndəvljυ- ing techniques such as importing for-
eʃ(ə)n/ noun the state of being valued eign goods at very low prices or by
at less than the true worth wrongly criticising a competitor’s
undervalued /
ndəvljud/ adjec- products
tive not valued highly enough 쑗 The unfavourable / nfev(ə)rəb(ə)l/
dollar is undervalued on the foreign ex- adjective not favourable (NOTE: the
changes. 쑗 The properties are underval- American spelling is unfavorable) 왍
ued on the company’s balance sheet. unfavourable balance of trade a situa-
‘…in terms of purchasing power, the dollar is tion where a country imports more than
considerably undervalued, while the US trade it exports 왍 unfavourable exchange
deficit is declining month by month’ rate an exchange rate which gives an
[Financial Weekly]
amount of foreign currency for the
underweight /
ndəwet/ adjective home currency which is not good for
왍 the pack is twenty grams under- trade 쑗 The unfavourable exchange rate
weight the pack weighs twenty grams hit the country’s exports.
less than it should unfulfilled /
nfυlfld/ adjective (of
undifferentiated /
ndfə- an order ) which has not yet been
.

rənʃietd/ adjective which has no supplied

unique feature unilateral /
junlt(ə)rəl/ adjective
undifferentiated marketing on one side only or done by one party
strategy / ndfə
rənʃietd only 쑗 They took a unilateral decision
mɑktŋ
strtədi/ noun a mar- to cancel the contract.
keting strategy which seeks to present a unilaterally /
junlt(ə)rəli/ ad-
product to the public without stressing verb by one party only 쑗 The decision
any unique feature of the product, thus was taken to cancel the contract
appealing to all segments of the market. unilaterally.
쏡 concentrated marketing, differenti-
unique /junik/ adjective unlike
ated marketing strategy anything else
undifferentiated product / ndfə- unique selling point /ju
nik

renʃietd prɒd kt/ noun a product selŋ pɔnt/, unique selling proposi-
which has no unique feature to set it tion /ju
nik selŋ prɒpə
zʃ(ə)n/
apart from others on the market 쑗 Only noun a special quality of a product
an extra-low price will sell an undiffer- which makes it different from other
entiated product in a market where goods and is used as a key theme in ad-
there is already a wide choice of brands. vertising 쑗 A five-year guarantee is a
undue influence /
ndju USP for this product. 쑗 What’s this
nfluəns/ noun unfair pressure put on product’s unique selling proposition?
someone to sign a contract 쑗 The Abbr USP
unit 279 unsubsidised

unit /junt/ noun 1. a single product unloaded the spare parts at Lagos. 쑗
for sale 2. a separate piece of equipment There are no unloading facilities for
or furniture 3. a group of people set up container ships. 2. to sell stock which is
for a special purpose no longer needed at a lower price than
unit cost /junt kɒst/ noun the cost usual 쑗 They tried to unload some
of one item, i.e. the total product costs unsellable items onto the Far Eastern
divided by the number of units produced market.
United Nations /ju
natd unloading / nləυdŋ/ noun the act
neʃ(ə)nz/ plural noun an organisation of selling off goods at a lower price than
which links almost all the countries of usual, often when they are no longer be-
the world to promote good relations be- ing produced and the producers merely
tween them want to get rid of remaining stock 쑗
Many customers are taking advantage
unit pack /junt pk/ noun a pack of our unloading and are buying in bulk.
containing only one unit of a product 쑗
Will the product be sold in unit packs, or unprofitable / nprɒftəb(ə)l/ ad-
in packs of ten or twenty units? jective not profitable
‘…the airline has already eliminated a number
unit price /junt pras/ noun the of unprofitable flights’ [Duns Business Month]
price of one item unprompted recall / n
prɒmptd
unit pricing /junt
prasŋ/ noun rikɔl/, unprompted awareness test
the pricing of items by showing how / n
prɒmptd əweənəs test/ noun
much each costs per unit of measure- an advertising research test to see how
ment, e.g. per metre or per kilo well a respondent can remember an ad-
Universal Product Code /jun- vertisement when he or she is given no

v&s(ə)l prɒd kt kəυd/ noun the code help in remembering it 쑗 A disappoint-
which identifies an article for sale, usu- ing number of respondents did not re-
ally printed as a bar code on the packet member the advertisement at all in an
or item itself. Abbr UPC unprompted recall. Compare prompted
universe /junv&s/ noun the total recall
population which is being studied in a unseen / nsin/ adverb not seen
survey and out of which a sample is se- unsold / nsəυld/ adjective not sold
lected 쑗 Is this sample really represen- 쑗 Unsold items will be scrapped.
tative of the universe? 쑗 In the survey, unsolicited / nsəlstd/ adjective
the universe is all British men between which has not been asked for 쑗 an unso-
the ages of forty and fifty. 쑗 From a uni- licited gift
verse of two million, a sample of two
thousand was chosen by random unsolicited testimonial / nsə-
selection.
lstd
testməυniəl/ noun a letter
praising someone or a product, without
unladen / nledn/ adjective without the writer having been asked to write it
a cargo 쑗 The ship was unladen when
she arrived in port. unstructured interview / n-

str ktʃəd ntəvju/ noun an inter-
unlimited / nlmtd/ adjective with view which is not based on a series of
no limits 쑗 The bank offered him unlim- fixed questions and which encourages
ited credit. open discussion 쑗 Unstructured inter-
unlimited liability / n
lmtd laə- views are effective in eliciting original
blti/ noun a situation where a sole suggestions for product improvement. 쑗
trader or each partner is responsible for Shy respondents often perform well in
all a firm’s debts with no limit on the unstructured interviews where they have
amount each may have to pay more freedom of expression. Compare
unload / nləυd/ verb 1. to take goods structured interview
off a ship, lorry etc. 쑗 The ship is un- unsubsidised / ns bsdazd/,
loading at Hamburg. 쑗 We need a unsubsidized adjective with no
fork-lift truck to unload the lorry. 쑗 We subsidy
unused 280 utility goods

unused / njuzd/ adjective which 쑗 We spend a lot of time keeping our

has not been used 쑗 We are trying to mailing list up to date.
sell off six unused computers. upturn / pt&n/ noun a movement to-
UPC abbr Universal Product Code wards higher sales or profits 쑗 an up-
turn in the economy 쑗 an upturn in the
update noun / pdet/ information market
added to something to make it up to date
쑗 Here is the latest update on sales. 쐽 usage /jusd/ noun how something
verb / pdet/ to revise something so is used
that it is always up to date 쑗 The figures usage pull /jusd pυl/ noun US
are updated annually. the degree to which those who see or
up front / p fr nt/ adverb in hear advertisements for a product buy
advance more of it than those who do not 쑗
We’re only able to assess usage pull
uplift / plft/ noun an increase 쑗 The some time after the advertising
contract provides for an annual uplift of campaign.
charges. usage segmentation /jusd
upmarket /
p mɑkt/ adverb, ad- se"men
teʃ(ə)n/ noun the dividing of
jective more expensive or appealing to a a market into segments according to the
wealthy section of the population 왍 the type of use which customers will make
company has decided to move of the product
upmarket the company has decided to use-by date /juz ba
det/ noun a
start to produce more luxury items date printed on a packet of food show-
‘…up market companies which are doing well ing the last date on which the contents
need a conference venue to reflect this’
[Marketing Week]
should be used. Compare best-before
date, sell-by date
‘…prices of up market homes (costing $350,000
or more) are falling in many areas’ [Economist] user /juzə/ noun a person who uses
something
upscale / pskel/ adjective aimed at user-friendly /
juzə frendli/ adjec-
customers at the top end of the tive which a user finds easy to work 쑗
socio-economic ladder, who are These programs are really
well-educated and have higher incomes user-friendly.
upselling / pselŋ/ noun selling ex- user’s guide /juzəz "ad/ noun a
tra products to go with the one the cus- book showing someone how to use
tomer is planning to buy something
upset price / pset pras/ noun the utility /jutlti/ noun the usefulness
lowest price which the seller will accept or satisfaction that a consumer gets from
at an auction a product 쑗 The price charged depends
up-to-date /
p tə det/ adjective, on the product’s utility.
adverb current, recent or modern 쑗 an utility goods /jutlti "υdz/ plural
up-to-date computer system 왍 to bring noun basic goods that are necessary for
something up to date to add the latest everyday life 쑗 Even some utility goods
information or equipment to something can be considered luxuries during a de-
왍 to keep something up to date to keep pression. 쑗 Consumers say that shop-
adding information to something so that ping for utility goods is routine and
it always has the latest information in it boring.
valorem 281 value engineering

valorem /vəlɔrəm/ noun 쒁 ad valo- value-added reseller /
vlju

rem duty dd riselə/ noun a merchant who
VALS noun a system of dividing peo- buys products at retail prices and pack-
ple into segments according to their way ages them with additional items for re-
of living. Full form Values and sale to customers
Lifestyles value-added services /
vlju
valuation /
vljυeʃ(ə)n/ noun an dd s&vsz/ plural noun services
estimate of how much something is which add value to a service or product
worth 쑗 to ask for a valuation of a prop- being sold
erty before making an offer for it 왍 to Value Added Tax /
vlju dd
buy a shop with stock at valuation tks/ noun full form of VAT
when buying a shop, to pay for the stock value-adding intermediary
the value as estimated by the valuer 왍 to /
vlju dŋ ntəmidiəri/ noun a
purchase stock at valuation to pay for distributor who adds value to a product
stock the price it is valued at before selling it to a customer, e.g., by
value /vlju/ noun the amount of installing software or a modem in a
money which something is worth 쑗 the computer
fall in the value of sterling 쑗 He im- value analysis /vlju ə
nləss/
ported goods to the value of £2500. 쑗 noun analysis by a producer of all as-
The valuer put the value of the stock at pects of a finished product to determine
£25,000. 왍 good value (for money) a how it could be made at minimum cost
bargain, something which is worth the 쑗 Value analysis showed an excessive
price paid for it 쑗 That restaurant gives amount of rubber was used in manufac-
value for money. 쑗 Buy that computer turing the product.
now – it is very good value. 쑗 Holidays
in Italy are good value because of the value chain /vlju tʃen/ noun 1.
exchange rate. 왍 to rise/fall in value to the sequence of activities a company
be worth more or less 쐽 verb to estimate carries out as it designs, produces, mar-
how much money something is worth 쑗 kets, delivers, and supports its product
He valued the stock at £25,000. 쑗 We or service, each of which is thought of
are having the jewellery valued for as adding value 2. the pattern that peo-
insurance. ple traditionally have in mind when con-
sidering their career prospects, which
value added /
vlju dd/ noun 1. involves them identifying at each stage
the difference between the cost of in their careers what the next, most ob-
bought-in materials and the eventual vious, upward move should be
selling price of the finished product 2.
the amount added to the value of a prod- valued impression per pound
uct or service, being the difference be- /
vljud m
preʃ(ə)n pə paυnd/
tween its cost and the amount received noun a method of showing how many
when it is sold 3. the features that make readers are reached by advertising for a
one product or service more desirable given sum of money. Abbr VIP
than others as far as the customer is con- value engineering /vlju end-
cerned and make it worth a higher price
nərŋ/ noun analysis by a producer of
value map 282 vending

all aspects of a product at the design ety chain stores sell everything from
stage to determine how it could be made jewellery to electrical products.
at minimum cost 쑗 Value engineering
variety store /vəraəti stɔ/ noun
allows very economical production and
US a shop selling a wide range of usu-
competitive prices at every stage in the
ally cheap items
distribution channel.
value map /vlju mp/ noun the VAT /
vi e ti, vt/ a tax on goods
level of value that the market recognises and services, added as a percentage to
in a product or service and that helps to the invoiced sales price 쑗 The invoice
differentiate it from competitors includes VAT at 17.5%. 쑗 The govern-
ment is proposing to increase VAT to
value proposition /vlju prɒpə- 22%. 쑗 Some items (such as books) are

zʃ(ə)n/ noun a statement by an organi- zero-rated for VAT. Full form Value
sation of the way in which it can provide Added Tax
value for a customer ‘…the directive means that the services of
valuer /vljυə/ noun a person who stockbrokers and managers of authorized unit
estimates how much money something trusts are now exempt from VAT; previously
they were liable to VAT at the standard rate.
is worth Zero-rating for stockbrokers’ services is still
Values and Lifestyles /
vlju ən available as before, but only where the recipient
laf
stalz/ noun full form of VALS of the service belongs outside the EC’
[Accountancy]
van /vn/ noun a small goods vehicle
van ship /vn ʃp/ noun a ship de- VAT declaration /vt deklə-
signed to carry goods in containers
reʃ(ə)n/ noun a statement declaring
VAT income to the VAT office
VAR abbr value-added reseller
variable /veəriəb(ə)l/ adjective VAT inspector /vt n
spektə/
noun a government official who exam-
which changes
ines VAT returns and checks that VAT
variable costs /
veəriəb(ə)l kɒsts/ is being paid
plural noun production costs which in-
crease with the quantity of the product VAT invoice /vt
nvɔs/ noun an
made, e.g. wages or raw materials invoice which includes VAT
variable pricing /
veəriəb(ə)l VAT invoicing /vt
nvɔsŋ/
prasŋ/ noun the practice of giving a noun the sending of an invoice includ-
product or service different prices in dif- ing VAT
ferent places or at different times VATman /vtmn/, vatman noun a
variance /veəriəns/ noun the differ- VAT inspector
ence between what was expected and VAT office /vt
ɒfs/ noun the gov-
the actual results 왍 at variance with ernment office dealing with the collec-
which does not agree with 쑗 The actual tion of VAT in an area
sales are at variance with the sales re-
ported by the reps. VDU abbr visual display unit
variation /
veərieʃ(ə)n/ noun the Veblenian model /vebleniən
amount by which something changes 왍
mɒd(ə)l/ noun a theory of buying be-
seasonal variations variations in sales haviour proposed by Veblen, which ex-
which take place at different times of plains consumption mainly in terms of
the year 쑗 seasonal variations in buying social influences or pressures rather
patterns than economic ones 쑗 A Veblenian
model helps to illustrate the
variety /vəraəti/ noun different
non-rational side of consumer
types of things 쑗 The shop stocks a vari-
behaviour.
ety of goods. 쑗 We had a variety of visi-
tors at the office today. vehicle /vik(ə)l/ noun a machine
variety chain store /və
raəti with wheels, used to carry goods or pas-
tʃen stɔ/ noun a chain store which sengers on a road
sells a large range of goods 쑗 The vari- vending /vendŋ/ noun selling
vending machine 283 viral design

vending machine /vendŋ mə
ʃin/ a market in which a product is used by

noun same as automatic vending only one industry
machine
vertical marketing system
vendor /vendə/ noun 1. a person who /
v&tk(ə)l mɑktŋ
sstəm/ noun a
sells something, especially a property 쑗 distribution system that is a
the solicitor acting on behalf of the ven- co-ordinated integrated unit involving
dor 2. person who sells goods the manufacturer, the wholesaler and the
vendor rating /vendə
retŋ/ noun retailer, where marketing decisions are
an assessment of a vendor by a buyer on taken globally
the basis of the vendor’s reliability and vertical publication /
v&tk(ə)l
the quality and price of the goods on of- p blkeʃ(ə)n/ noun a publication for
fer 쑗 Vendor rating has already dis- people working at different levels in the
qualified three suppliers on the grounds same industry. Compare horizontal
of price. 쑗 A good reputation for quick publication
delivery is a key factor in the buying de-
vessel /ves(ə)l/ noun a ship
partment’s vendor ratings.
venture /ventʃə/ noun a commercial viable /vaəb(ə)l/ adjective which can
work in practice 왍 not commercially
deal which involves a risk 쑗 They lost
viable not likely to make a profit
money on several import ventures. 쑗
She’s started a new venture – a com- videoconferencing /vdiəυ-
puter shop. 쐽 verb to risk money
kɒnf(ə)rənsŋ/ noun the use of live
venture capital /
ventʃə kpt(ə)l/ video links that enable people in differ-
noun capital for investment which may ent locations to see and hear one another
easily be lost in risky projects, but can and so to discuss matters and hold meet-
also provide high returns ings without being physically present
‘…the Securities and Exchange Board of India together in one place
allowed new companies to enter the primary videotape /vdiəυtep/ noun a
market provided venture capital funds took up magnetic tape for recording sound
10 per cent of the equity. At present, new
companies are allowed to make initial public and vision, used for making original
offerings provided their projects have been recordings or taping existing television
appraised by banks or financial institutions material 쑗 The advertiser studied the
which take up 10 per cent of the equity’ videotape of the advertisement and
[The Hindu]
sent comments to the agency. 쐽 verb
venture team /ventʃə tim/ noun a to record something on videotape 쑗 The
group of people from different depart- reactions of respondents trying the
ments in a company who work together product for the first time were
on a new product-development project videotaped.
쑗 The venture team met regularly to
monitor progress in the product’s view /vju/ verb to watch a TV
development. programme
version /v&ʃ(ə)n/ verb to adapt a viewer /vjuə/ noun a person who
website for different categories of cus- watches television
tomer by maintaining different versions viewing figures /vjuŋ
f"əz/ plu-
of it ral noun figures showing the numbers of
vertical /v&tk(ə)l/ adjective up- people watching a TV programme
right, straight up or down viral /varəl/ adjective acting in the
vertical communication same way as a virus 쐽 noun a message
/
v&tk(ə)l kəmjunkeʃ(ə)n/ noun spread by viral marketing
communication between senior manag- viral design /varəl d
zan/ noun
ers via the middle management to the the design of a message that encourages
workforce recipients to forward the message on to
vertical industrial market others
/
v&tk(ə)l nd striəl
mɑkt/ noun
viral effect 284 voluntary control

viral effect /varəl 
fekt/ noun the voicemail /vɔs mel/ noun an elec-
number of recipients of a message who tronic communications system which
forward the message on to others stores digitised recordings of telephone
viral forwards /
varəl fɔwədz/ messages for later playback
plural noun the number of messages voiceover /vɔs
əυvə/ noun the
forwarded commentary for a TV or cinema adver-
tisement, spoken by an actor who does
viral marketing /varəl
mɑktŋ/ not appear in the advertisement
noun marketing by word of mouth or by
spreading advertising messages on the volume /vɒljum/ noun a quantity of
Internet items 왍 low/high volume of sales a
small or large number of items sold
virtual office /
v&tʃuəl ɒfs/ noun a
workplace that has no physical location volume discount /vɒljum
but is created when a number of em-
dskaυnt/ noun the discount given to a
ployees use information and communi- customer who buys a large quantity of
cations technologies to do their work goods
and collaborate with one another (NOTE: volume of output /
vɒljum əv
A virtual office is characterised by the aυtpυt/ noun the number of items
use of teleworkers, telecentres, mobile produced
workers, hot-desking, and hotelling.) volume segmentation /vɒljum
virtual team /
v&tʃuəl tim/ noun a se"men
teʃ(ə)n/ noun the segmenta-
group of employees working in different tion or division of a market on the basis
locations who use communications of the quantity of the product bought
technologies such as groupware, email, volumetrics /
vɒljumetrks/ noun
an intranet, or videoconferencing to col- analysis of the relative influence of vari-
laborate with each other and work as a ous media by considering the number of
team people who are exposed to them, and
VISA /vizə/ a trademark for interna- their importance as buyers 쑗 Volumet-
tional credit card system rics has been our most useful tool in me-
dia buying. 쑗 The marketing department
visible /vzb(ə)l/ adjective which consulted an expert in volumetrics to
can be seen help plan the advertising campaign.
vision statement /v(ə)n (NOTE: takes a singular verb)

stetmənt/ noun a statement that voluntarily /vɒlənt(ə)rəl/ adverb
sets out in general terms what an without being forced or paid
organisation is aiming or hoping to
achieve in the future (NOTE: Vision voluntary /vɒlənt(ə)ri/ adjective 1.
statements express corporate vision, done freely without anyone forcing you
and are related to mission statements.) to act 2. done without being paid
voluntary chain /vɒlənt(ə)ri
visual /vυəl/ adjective which can
tʃen/, voluntary group /vɒlənt(ə)ri
be seen 쐽 noun a photograph, picture,
"rup/ noun a group of distributors
chart, or graph used to display informa-
who join together to buy from suppliers
tion or promotional material
so as to enjoy quantity discounts 쑗 After
visual display terminal /
vzjυəl joining the voluntary chain the shop
dsple
t&minəl/, visual display saved up to 20% in buying.
unit /
vυəl dsple
junt/ noun a voluntary control /
vɒlənt(ə)ri
screen attached to a computer which kəntrəυl/ noun a system adopted by
shows the information stored in the the advertising industry for controlling
computer. Abbr VDT, VDU possible abuses which involves follow-
visualizer /vυəlazə/ noun a ing guidelines laid down for the industry
person who produces visual ideas for as a whole 쑗 If voluntary controls are
advertisements or advertising not effective, the government will have
campaigns to bring in legislation.
voluntary organisation 285 voucher

voluntary organisation voucher /vaυtʃə/ noun 1. a piece of

/vɒlənt(ə)ri ɔ"əna
zeʃ(ə)n/ noun paper which is given instead of money
an organisation which does not receive 2. a written document from an auditor to
funding from the government, but relies show that the accounts are correct or
on contributions from the public that money has really been paid
wage differential 286 web marketplace

wage differential /wed dfə- twelve-month warranty. 쑗 The warranty

renʃəlz/ noun a difference in salary be- covers spare parts but not labour costs.
tween employees in similar types of waste /west/ noun an unnecessary
jobs use of time or money
waggon jobber /w"ən
dɒbə/
waste coverage /west
noun US a limited function wholesaler,
usually one who delivers goods by truck
k v(ə)rd/ noun media coverage
to retailers which goes beyond the target audience
wagon /w"ən/ noun a goods truck waybill /webl/ noun a list of goods
used on the railway being transported, made out by the
carrier
want /wɒnt/ noun a need felt by a per-
son, which is formed by that person’s wealth management /welθ
education, culture, and character
mndmənt/ noun investment ser-
vices offered by banks to people with
WAP /wp/ noun a technical language more than a specific amount of money
and set of processing rules that enables in liquid assets
users of mobile phones to access
websites (NOTE: WAP stands for Wire- wear and tear /
weər ən teə/ noun
less Application Protocol and is the damage to a product through use over a
equivalent of HTML for mobile period of time
phones.) web /web/ noun the thousands of
warehouse /weəhaυs/ noun a large websites and webpages within the
building where goods are stored 왍 price Internet, which users can visit
ex warehouse the price for a product webcast /webkɑst/ noun a broad-
which is to be collected from the manu- cast made over the web that enables an
facturer’s or agent’s warehouse and so event to be viewed by a large number of
does not include delivery 쐽 verb to store people who are all connected to the
goods in a warehouse 쑗 Our offices are same website at the same time (NOTE:
in London but our stock is warehoused Webcasts often use rich media tech-
in Scotland. nology.)
warehouse capacity /weəhaυs web commerce /web
kɒm&s/
kə
psti/ noun a space available in a noun same as e-commerce
warehouse
web marketing /web
mɑktŋ/
warehouseman /weəhaυsmən/ noun marketing that uses websites to
noun a person who works in a ware- advertise products and services and to
house (NOTE: plural is warehousemen) reach potential customers
warehousing /weəhaυzŋ/ noun the web marketplace /web
act of storing goods in a warehouse 쑗
mɑkples/ noun a network of con-
Warehousing costs are rising rapidly. nections that enables business buyers
warranty /wɒrənti/ noun a legal doc- and sellers to contact one another and do
ument which promises that a machine business on the web (NOTE: There are
will work properly or that an item is of three types of web marketplace: online
good quality 쑗 The car is sold with a catalogues, auctions, and exchanges.)
webmaster 287 win

webmaster /webmɑstə/ noun the COMMENT: This model explains that re-
person who looks after a website, tailers start as low-price downmarket
changing and updating the information stores and gradually trade up, and some-
it contains and noting how many people times eventually go out of business, being
visit it (NOTE: Several different people replaced by new downmarket stores.
within an organisation may share the white coat rule /wat kəυt rul/
job of webmaster.) noun a rule for advertising on TV stat-
webpage /webped/ noun a single ing that doctors or actors in white coats
file of text and graphics, forming part of cannot promote medical products
a website white goods /wat "υdz/ plural
website /websat/ noun a position on noun 1. machines which are used in the
the web, which is created by a company, kitchen, e.g. refrigerators, washing ma-
organisation or individual, and which chines 2. household linen, e.g. sheets
anyone can visit 쑗 How many hits did and towels
we have on our website last week? wholesale /həυlsel/ adjective, ad-
weekly /wikli/ noun a newspaper or verb referring to buying goods from
magazine which is published each week manufacturers and selling in large quan-
쑗 The clothes were advertised in the tities to traders who then sell in smaller
fashion weeklies. (NOTE: plural is quantities to the general public 쑗 I per-
weeklies) suaded him to give us a wholesale dis-
weight /wet/ noun a measurement of count. 왍 he buys wholesale and sells
how heavy something is 왍 to sell fruit retail he buys goods in bulk at a whole-
by weight the price is per pound or per sale discount and then sells in small
kilo of the fruit 왍 to give short weight quantities to the public
to give less than you should wholesale dealer /həυlsel
dilə/
weighted average /
wetd noun a person who buys in bulk from
v(ə)rd/ noun an average which is manufacturers and sells to retailers
calculated taking several factors into ac- wholesale price /həυlsel pras/
count, giving some more value than noun a price charged to customers who
others buy goods in large quantities in order to
weighted index /
wetd ndeks/ resell them in smaller quantities to
noun an index where some important others
items are given more value than less im- wholesale price index /
həυlsel
portant ones pras
ndeks/ noun an index showing
weighting /wetŋ/ noun a statistical the rises and falls of prices of manufac-
process which gives more importance to tured goods as they leave the factory
some figures or results than others in the wholesaler /həυlselə/ noun a per-
process of reaching a final figure or son who buys goods in bulk from manu-
result facturers and sells them to retailers
weight limit /wet
lmt/ noun the wholesale trade /həυlsel tred/
maximum weight 쑗 The packet is over noun trade that involves buying goods
the weight limit for letter post, so it will in large quantities at lower prices in or-
have to go by parcel post. der to resell them in smaller quantities
wet goods /wet "υdz/ plural noun and at higher prices to others
goods that are sold in liquid form 쑗 Spe- WIIFM noun the basic thoughts that af-
cial plastic containers have to be used fect the decision taken by a prospective
for wet goods. 쑗 Inflammable wet goods customer. Full form what’s in it for
are the most dangerous type of product me?
to transport. win /wn/ verb to be successful 왍 to
wheel of retailing /
wil əv win a contract to be successful in ten-
ritelŋ/ noun a model which explains dering for a contract 쑗 The company an-
changes in the evolution of the retailing nounced that it had won a contract
trade worth £25m to supply buses and trucks.
window 288 wrapping paper

window /wndəυ/ noun an opening in works /w&ks/ noun a factory 쑗 There

a wall, with glass in it is a small engineering works in the same
window display /wndəυ d
sple/ street as our office. 쑗 The steel works is
noun the display of goods in a shop expanding. (NOTE: takes a singular or
window plural verb)
workshop /w&kʃɒp/ noun a small
window dressing /wndəυ
dresŋ/ factory
noun the practice of putting goods on
display in a shop window, so that they world /w&ld/ noun 1. the earth 왍 the
attract customers world market for steel the possible
sales of steel throughout the world 2.
window shopping /wndəυ people in a specific business or people

ʃɒpŋ/ noun the practice of looking at with a special interest 쑗 the world of big
goods in shop windows, without buying business 쑗 the world of lawyers or the
anything legal world
windscreen sticker /wndskrin ‘…the EU pays farmers 27 cents a pound for
sugar and sells it on the world market for 5

stkə/ noun an advertising sticker put cents’ [Duns Business Month]
onto the windscreen of a car ‘…manufactures and services were the fastest
win-win situation /wn wn stju- growing sectors of world trade’
[Australian Financial Review]

eʃ(ə)n/ noun a situation in which,
whatever happens or whatever choice is world enterprise /w&ld entəpraz/
made, the people involved will benefit noun an advanced form of international
marketing
women’s magazine /wmnz
m"ə
zin/ noun a magazine aimed at world rights /w&ld rats/ plural
the women’s market noun he has the right to sell the product
anywhere in the world
word /w&d/ noun something spoken worldwide /w&ldwad/ adjective,
word-of-mouth communications adverb everywhere in the world 쑗 The
/
w&d əv maυθ kəmjunkeʃ(ə)nz/ company has a worldwide network of
plural noun informal channels of com- distributors. 쑗 Worldwide sales or Sales
munication such as friends and neigh- worldwide have topped two million
bours, colleagues and members of the units. 쑗 This make of computer is avail-
family able worldwide.
working capital /w&kŋ World Wide Web /
w&ld
wad

kpt(ə)l/ noun capital in the form of web/ noun same as web
cash, stocks and debtors (less creditors) wrap /rp/, wrap up /
rp  p/ verb
used by a company in its day-to-day to cover something all over in paper 쑗
operations He wrapped (up) the parcel in green pa-
work in progress /
w&k n prəυ- per. 왍 to gift-wrap a present to wrap a
"res/ noun the value of goods being present in attractive paper
manufactured which are not complete at wrapper /rpə/ noun a piece of ma-
the end of an accounting period 쑗 Our terial which wraps something 쑗 The bis-
current assets are made up of stock, cuits are packed in plastic wrappers.
goodwill and work-in-progress. Abbr wrapping paper /rpŋ
pepə/
WIP (NOTE: American English is work noun a special type of coloured paper
in process) for wrapping presents
yard 289 zone

XYZ

yard /jɑd/ noun a measure of length yuppies /j piz/ plural noun young
(same as 0.91 metres) (NOTE: can be professional people with relatively high
written yd or yds after numbers: 10 incomes (NOTE: short for young up-
yd. Yards are no longer in official use wardly-mobile professionals)
in the UK.)
zero-rated /
zərəυ retd/ adjective
yearbook /jəbυk/ noun a reference referring to item which has a VAT rate
book which is published each year with of 0%
updated or new information
zero-rating /zərəυ
retŋ/ noun the
yellow goods /jeləυ "υdz/ plural rating of an item at 0% VAT
noun high-priced goods which are kept
in use for a relatively long time and so ZIP code /zp kəυd/ noun US num-
are not replaced very frequently. Com- bers in an address that indicate a postal
pare orange goods, red goods delivery area (NOTE: British English is
Yellow Pages /
jeləυ pedz/ postcode)
trademark a section of a telephone di- zone /zəυn/ noun an area of a town or
rectory printed on yellow paper which country for administrative purposes 쐽
lists businesses under various headings verb to divide a town into different ar-
such as computer shops or newsagents eas for planning and development pur-
young old /j ŋ əυld/ noun the mar- poses 왍 land zoned for light industrial
ket sector consisting of people aged be- use land where planning permission has
tween 60 and 75, that is with a median been given to build small factories for
age of around 66 light industry
SUPPLEMENT
 VALS Lifestyle Segmentation

Social group Description of members

Innovators Successful, sophisticated people, often leaders in

their profession, who are interested in new ideas
and products and who buy a lot of expensive
things

Thinkers Well-educated and well-informed people, often

idealistic, who buy things that last a long time and
are good value for money

Achievers Successful people with traditional tastes and

values who buy expensive products that have a
good reputation or that save them time

Experiencers Young people who like new and unusual things

and spend a lot of money on fashion and on their
social life and hobbies

Believers Conventional people with strong morals and ideals

who like traditional, well-known products and are
loyal customers

Strivers People who want to appear successful, rich and

fashionable, who enjoy shopping and would like
to have more money to spend

Makers Practical people who like to be independent and

control their own lives and who buy goods that are
good value for money but are not expensive or
fashionable

Survivors People without much money who cannot afford

expensive things and buy only what they need,
often at reduced prices
 SWOT Analysis

Organisation

Strengths Weaknesses
The services or products The services or products
or skills which the or skills which the
organisation is good at organisation can’t do or
doing or making doesn’t do well

Market
Opportunities Threats
Segments of the market Segments of the market
which are attractive, and or changes taking place
where changes in the in the market which
market might work in make it difficult for the
favour of the organisation to work
organisation there
 Social Classes in the UK
This classification of social classes is based on the one used by National
Statistics, the UK government service that provides statistical
information on many areas of British life.

Code Description of members of group

I senior managers, administrators, senior civil

servants, leading professional people (doctors,
lawyers, architects, etc.)

II middle managers and administrators, middle-level

civil servants and professional people

III N (= non-manual) junior managers and administrators, clerical staff

III M (= manual) workers with skills and qualifications

IV unskilled workers, such as manual workers, in

permanent jobs

V pensioners, unemployed people, casual manual

workers
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