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Sales
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Sales is currently at the heart of many organisations. Therefore, whether you work in Sales, or whether you need to interact with salespersons, this unit will provide you with Vocabulary Words you need to inject into your sales repertoire and, thus, enhance your understanding in this key area.

 

Word

Meaning

After sales service

Service that continues after the sale of a product (maintenance, etc.)

Agent

Person or company that acts for another and provides a specified service.

B2B e-commerce

Business to business e-commerce : use of commercial networks, online product catalogues and other online resources to  obtain better prices and reach new customers.

B2C e-commerce

Business to consumer e-commerce : online sale of goods and services directly to consumers.

Benchmarking

Comparing one's products to those of  competitors in order to improve quality and performance.

Buyer

1) Any person who makes a purchase.
2) A person employed to choose and buy stock for a company.

Cash refund offer

 Offer to pay back part of the purchase price of a product to customers who send a "proof of purchase" to the manufacturer.

Chain store

 Two or more shops or outlets that have the same owner and sell similar lines of merchandise.

Client

 A person who buys services or advice from a lawyer, an accountant or other professional.

Close

Finalize a sale or deal.

Convenience store

Small shop located near a residential area that opens long hours, seven days a week.

Coupon

Certificate that gives customers a saving when they purchase a specific product.

Deal

A business transaction.

Department store

A large shop or store that carries a wide variety of product lines.

Direct investment

Entering a foreign market by setting up assembly or manufacturing facilities in that country.

Discount

A reduction in price.

E-commerce

Buying and selling by electronic means, primarily on the internet.

E-marketing

Promotion of products and services over the internet.

Extranet

Network that connects a company with its suppliers and distributors

Follow-up

Maintain contact after the sale to ensure customer satisfaction.

Franchise

 Association between a manufacturer or wholesaler (franchiser) and an independent business person (franchisee) who buys the right to own and operate a unit in the franchise system.

Guarantee

A promise that product will be repaired or replaced if faulty.

Intranet

A network that connects people to each other within a company.

Joint venture

A way of entering a foreign market by joining with a foreign company to manufacture or market a product or service.

Market leader

The company with the largest market share in an industry.

Mark up

Percentage of the price added to the cost to reach a selling price.

Opinion leader

Person with a reference, who, because of competence, knowledge, or other characteristics, exerts influence on others.

Packaging

Designing and producing the container or wrapper for a product.

Product line

A group of products that are closely related.

Prospect

A potential customer.

Representative

A person who represents and sells for a company.

Retail 

To sell in small quantities, as in a shop, directly to customers.

Shopping centre

Group of shops developed and managed as a unit.

Telephone marketing

Using the telephone to sell directly to customers.

Trade fair

An exhibition at which companies in a specific industry can show or demonstrate their products.

Viral marketing

The internet version of word-of-mouth marketing - email messages that customers pass on to friends.

Wholesale

To sell goods and services to those buying for resale (e.g. a shop) or for business use.

 

 

 

 

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