Sales and Marketing

PAYMENT TERMS /pā′mənt tʉrmz/

29 Sep 2019

phrase

  • Conditions under which a seller will make a sale. Typically, these terms specify the period allowed to a buyer to pay off the amount due, and may demand cash in advance, cash on delivery, deferred payment period of 30 days or more, etc.
Example Sentences:According to our payment terms, invoices must be settled within 14 days.
We couldn’t accept their payment terms so we chose another supplier.
 

WHOLESALE PRICE /ˈhoʊlˌseɪl prīs/

21 Sep 2019

phrase

  • the price of goods charged to shops and businesses for buying large quantities of the goods
Example Sentences:The wholesale price of goods is always cheaper than the retail price.
If you buy this bed in a shop, you’ll pay around $600. However, the wholesale price is only $400.
 

DISCOUNT /dis′ko̵unt′/

17 Sep 2019

noun

  • a reduction in price from the original sale price
Example Sentences:The company is offering a discount of 30% on their standard price for all goods purchased before the end of the month.
We offered them a further discount of 5% but they rejected it.
 

REGULAR CUSTOMER /reg′yə lər kus′tə mər/

15 Sep 2019

phrase

  • a customer who often buys a product or service from the same company
Example Sentences:We generally give better sales terms to our regular customers.
As I’m a regular customer, can you offer me a bigger discount?
 

SALES FORCE seɪlz fɔrs

14 Sep 2019

Noun

  • all the people who sell for a company.
Example Sentence: The company is hoping to expand its sales force.
 

SALES COMMISSION /seɪlz kəˈmɪʃ ən/

13 Sep 2019

phrase

  • payment to a salesperson for their efforts in marketing and selling something, usually calculated as a percentage of the total sales
Example Sentences:All our sales staff earn a 2.5% commission on their sales.
He’s moving to a company that pays a much better sales commission.
 

CONFIRM AN ORDER / kən fʉrm′ ən ôr′dər/

12 Sep 2019

phrase

  • say by phone or in writing that the order can be processed
Example Sentences:We can deliver the goods between two to five days after you confirm the order.
Once an order is confirmed, an invoice is issued and emailed to the client.
 

CONTRACT OF SALE / kän′trakt′ ʌv sāl/

10 Sep 2019

phrase

  • Formal contract by which a seller agrees to sell and a buyer agrees to buy, under certain terms and conditions spelled out in writing in the document signed by both parties. An invoice, for example, is a contract of sale. Also called agreement of sale, contract for sale, sale agreement, or sale contract.
Example Sentences:An invoice is an example of a contract of sale.
Another term for contract of sale is agreement of sale.
 

LETTER OF CREDIT  

04 Sep 2019

Noun

  • a letter from a bank that guarantees a payment to a specified person.
Example Sentence: The seller requires a letter of credit to secure payment.
 

FLAT MARKET flæt mɑrkɪt

28 Aug 2019

Noun

  • a market that is characterised by little activity.
Example Sentence: The sale of sewing machines is a flat market with few surprises.
 

EXCLUSIVE ɪkˈsklusɪv

24 Aug 2019

Adjective

  • not shared with others; only for a certain group.
Example Sentence: They have the exclusive right to sell the product in Japan.
 

DIRECT MAIL dɪˈrɛkt meɪl

22 Aug 2019

Noun

  • a form of advertising when promotional letters are sent to potential customers.
Example Sentence: They started to promote their service by using direct mail.
 

CUSTOMER LOYALTY kʌstəmər lɔɪəlti

20 Aug 2019

Noun

  • the likelihood customers will stay with a company and resist competitive offers.
Example Sentence: The supermarket is hoping to boost customer loyalty with the new reward scheme.
 

COMMERCIAL kəˈmɜrʃəl

14 Aug 2019

Noun

  • an advertisement on the television.
Example Sentence: He went to make a coffee during the commercial break.
 

CHAIN tʃeɪn

13 Aug 2019

Noun

  • many shops that are run under the same name, brand & owner.
Example Sentence: The supermarket chain is opening a new store in the town.
 
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