sound (adj) stable, strong; the company is financially sound sourcing (n) obtaining goods from suppliers; dual sourcing is more
secure than single sourcing space (n) advertising space; space in a publication for advertising speciality (n) particular interest; you will only find certain items in a
speciality store spending power (n) having money to spend on goods
spin-off (n) a product or service which is developed as a result of a main
product; a secondary product sponsor (n) person or company which pays for an event (sports, culture,
etc.) in return for advertising sponsorship (n) act of sponsoring
spot (n) a time on TV which is used for advertising
spread 1. (n) difference between selling and buying prices of shares 2. (v) to space out over a period of time; Could we spread the repayments over two years?
stag 1. (n) person who buys shares and then sells them immediately 2. (v)
to buy a new issue of shares and then sell immediately stagnant (adj) not moving, inactive; the market is stagnant stagnation (n) not making progress, remaining constant stand (n) an area for display at an exhibition
sticker (n) piece of gummed paper to be stuck onto articles as an
advertisement stock (n) 1. quantity of goods for sale; inventories 2. stocks and shares; shares in ordinary companies; stock often refers to fixed interest securities
(loan stock — in US: bonds) stockbroker (n) person who buys and sells shares for clients stock controller (n) person who controls inventories stock exchange (n) a market in which securities are traded
storyboard (n) drawings which illustrate a TV advertisement in its
planning stage strategy (n) future action to achieve objectives strategic (adj) referring to a plan of action
subcontract (v) to arrange with another company to do some work subcontractor (n) company which does work for main contractor subliminal advertising (n) advertising which convey s a message using
subconscious impressions subscribe (v) to pay in advance for a number of issues of a publication or
for membership to a society or club subscriber (n) person who subscribes
subsidiary (n) a company which is at least 51 per cent owned by a parent
company subsidise (v) to support financially; the government has subsidised
nationalised industry subsidy (n) money given to support a company/organization supplement (n) special additional part of a magazine or newspaper supply 1 (n) providing something; we are subject to the laws of supply
and demand 2. (v) to provide something supplier (n) person/company which supplies
swap (n) an exchange; a swap of securities involves exchanging one
security for another of the same value
T
tactic (n) step taken as part of carrying out a strategy
tailor (v ) to design something for a special purpose; tailor made products tangible assets (n) assets which can be seen such as property, land, etc.
target l (n) figure or point to aim at; our sales targets are high 2 (v) to
aim at; we have targeted the 30-45 age group tariff (n) tax or charge paid to enter a market; the EC tariff barriers tax 1 (n) money charged by the government or an official body to pay for
services 2, (v) to make somebody pay tax capital gains tax (n) tax on the profit made on the sale of assets corporation tax (n) tax on profits income tax (n) tax on personal income taxable (adj) able to be taxed
tax allowance (n) part of income which is received tax-free taxation (n) process of taxing
tax avoidance (n) trying to minimize tax legally tax concession (n) allowing less tax to be paid
tax deductible (adj) referring to an expense that can be deducted from
total profits thereby reducing the amount on which tax must be paid tax evasion (n) trying to avoid tax illegally tax loophole (n) legal means of not paying tax tax relief (n) allowing tax-free income
value added tax (VAT) (n) tax on goods and services
teaser (n) advertisement which attracts by giving very little
information — it makes the audience curious telesales (n) selling over the telephone
tender 1 (n) offer for a contract at a certain price; the purchaser invited
tenders from three suppliers 2 (v) to offer a price and conditions for a contract territory (n) sales or business area
testimonial (n) statement praising a product or service testimonial
advertising uses statements from satisfied customers threshold (n) limit; the tax threshold for VAT registration is £30,000 tie up (v) to invest long-term; we have most of our capital tied up in
dockland property tip (n) advice, he gave me a tip about those shares
track record (n) experience and results of a company or person over a
number of years; his track record speaks for itself trade 1 (n) business of buying and selling; we depend on overseas trade 2. (v) to buy and sell; he trades in shares
balance of trade (n) international trading position of a country insider trading (n) illegal buying or selling of shares by employees of a
company based on inside information trading profit (n) gross income exceeds total costs
trade in (v) to give back an old product in part payment for a new product; a traded in my ВMW for a Mercedes trade mark(n) registered name or design which cannot be used by
another company transaction (n) exchange of goods or services for money
transfer 1 (n) moving something to another place; we credited your account by bank transfer 2. (v) to move something from one place to another; we transferred our money to the Cayman Islands transfer pricing (n) adjustment of prices on sales made between parts of
a multinational company treasurer (n) person who looks after finance and funds of a club, society
or company (US)
treasury (n) government department which deals with a country’s finance treasury bill (n) bill of exchange sold by government at a discount with
no interest treasury bonds bonds issued by US government
trend (n) general development in a market, business; there is a
downward trend in inflation trough (n) low point in business cycle
trust (n) 1. management of funds or property for someone; the family has
set up a trust fund for the grandchildren
2. (US) small group/cartel of companies which controls a market anti-trust laws (n) designed to break up monopolies and encourage
competition turnaround (n) making a company profitable again; he achieved a
complete turnaround in the company’s fortunes turnover (n) 1. total amount of sales; our turnover in 1991 was 25 per cent up on 1990 2. speed/ regularity with which staff or stock change: staff turnover; stock turnover
U
under-capitalised (adj) not having enough capital
under-utilised (adj) not used enough; much of the capital is under-utilised undifferentiated (adj) having no unique feature
undifferentiated marketing (n) appealing to all sectors of the market undistributed (adj) not distributed; the undistributed profit was retained uneconomical (adj) which does not make a profit; this project is uneconomical unissued (adj) not issued; there is $500,000 of unissued capital unique (adj) having no imitations unique selling proposition (USP) unit (n) single item; the unit cost goes down as production increases unit trust (n) organisation which invests money in a variety of shares for small investors
unlisted (adj) not listed
unlisted securities market (USM) market for buying and selling shares
not listed on the Stock Exchange unsecured (adj) with no security; unsecured loan
unstructured interview (n) an interview with no planned structure/questions up-to-date (adj) current, modern update (v) to bring up to date
up-market (adj/adv) expensive, targeted at luxury end of the market upturn (n) a movement upwards; there has been a marked upturn in sales
V
value 1. (n) amount of money something is worth; the book value of the assets
is lower than the real value 2. (v) to estimate how much something is worth valuation (n) the act of valuing; we carried out a stock valuation at the
end of the year variable (adj) which changes; variable costs increase as production increases variance (n) difference; the budget variance shows the difference
between forecast and actual results variation (n) amount something changes; the sales are subject to
seasonal variation variety (n) different types, range; there is a variety of products to choose from vary (v) to differ, change; the margin varies depending on raw material costs vending (n) selling
vendor (n) person or company who sells
venue (n) place where an event takes place; we have chosen an out-of-
town venue for the conference venture (n) risky business project; we need venture capital to start vertical (adj) straight up and down; vertical marketing systems involve
integrated systems from manufacturer to retailer viable (adj) can work/can be profitable; this project is not viable viability (n) ability to make a profit
visible (adj) can be seen; visible trade figures exclude earnings from
tourism voucher (n) paper coupon given instead of money
W
warehouse (n) building where goods are stored wealth (n) amount of money and assets owned by someone weekly (n) publication which appears once a week
weighting (n) process of giving more importance to one factor when
analysing figures white goods (n) products such as refrigerators and washing machines used m the kitchen
wealthy (adj) rich
wind up (v) to close down a company; the company was wound up with
debts of $100,000 wholesale (n/adj)buying goods from a manufacturer and selling on to retailers wholesaler (n) person/company that buy s from manufacturers and sells to retailers wrapper (n) material which wraps a product
Some conflicting management philosophies..................................... 3
Portfolio analysis.............................................................................. 6
Contact methods used in market research....................................... 10
Organizational buyer behaviour...................................................... 16
Positioning in a segment................................................................. 19
Product line decisions..................................................................... 22
Pricing decisions............................................................................. 24
Price adjustment strategies.............................................................. 27
Managing channels......................................................................... 29
Order processing............................................................................. 32
Selling tactics.................................................................................. 35
Choosing the media........................................................................ 39
Learning from mistakes in foreign markets..................................... 42
Corporate versus subsidiary strategy............................................... 45
Negotiating a loan........................................................................... 47
Presenting a cash flow forecast....................................................... 49
Profit and cash flow....................................................................... 52
Costing and pricing a new product.................................................. 53
Valuing goodwill............................................................................ 56
Business analysis............................................................................ 59
Ethics in accounting........................................................................ 61
Analysing performance.................................................................. 64
Briefing on personal taxation.......................................................... 66
Plant location decisions.................................................................. 69
Discussion of privatisation............................................................. 71
Glossary......................................................................................... 74
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