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Sales and Marketing

MARKETING MIX mɑrkɪtɪŋ mɪks

Noun

  • the combination of marketing strategies a company uses.
Example Sentence: It's important to get the right marketing mix.
 

MARKET NICHE mɑrkɪt nɪtʃ

Noun

  • a small but profitable segment of market.
Example Sentence: They found a market niche providing special chairs for elderly people.
 

LOYALTY lɔɪəlti

Noun

  • a person/groups' willingness to stay with one particular product.
Example Sentence: Customer loyalty can be improved by using a card scheme.
 

IMAGE ɪmɪdʒ

Noun

  • how something is seen and understood by others.
Example Sentence: The company gained a bad image following the scandal.
 

FRANCHISE SOMETHING fræntʃaɪz

Verb

  • to give somebody the exclusive right to sell your product in an area.
Example Sentence: They franchised the technology to a firm in China.
 

FLOOD A MARKET  

Phrase

  • to introduce a new product on the market in a very large quantity.
Example Sentence: They have flooded the market with merchandise for the film.
 

ENDORSEMENT ɛnˈdɔrsmənt

Noun

  • a form of advertising that involves a famous person to promote a product.
Example Sentence: The athlete's endorsement helped boost sales of the product.
 

DUMPING dʌmpɪn

Verb

  • when goods are sold abroad for a much cheaper price.
Example Sentence: Dumping enables companies to offload unwanted stock.
 

DECLINING MARKET  

Phrase

  • a market that is becoming worse.
Example Sentence: The declining market in caravans is due to the growth of cheap airlines.
 

CLASSIC BRAND klæsɪk brænd

Noun

  • a brand that many people have known for a long time.
Example Sentence: Coca Cola is the best known classic brand.
 

DRAW UP drɔ ʌp

Phrasal Verb

  • make first version.
Example Sentence: My lawyer is drawing up a draft of the contract.
 

BACK OUT bæk aʊt

Phrasal Verb

  • leave the negotiation.
Example Sentence: They backed out of the deal at the last minute.
 

UNDERCUT ʌndərˈkʌt

Verb

  • to charge less than a competitor.
Example Sentence: They have reduced their price to undercut their rivals.
 

HOSTILE TAKEOVER BID  

Phrase

  • an aggressive attempt by a company to buy control of another company.
Example Sentence: Their French rival has launched a hostile takeover bid.
 

HARD-SELL hɑrd sɛl

Noun

  • (of selling or advertising) aggressive and forceful .
Example Sentence: He tried to defend the hard-sell tactics used to entice customers.
 
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