Professional Documents
Culture Documents
PRODUCT-anything capable of satisfying need or want, something produced naturally or by human effort
BRAND- name used to identify goods or services of a particular manufacturer
BRAND LOYALTY- buying always the same brand
BRAND STRECHING- use a famous brand to launch a new product
FAMILY NAME-when some manufacturers use their own name for all their products (yamaha)
MULTY BRAND STRATEGY- the strategy which allows some major producers(of soap, powders) to compete in
various market segments, and to fill shelf space in shops leaving less room for competitors (p&g)
CONVINIENCE GOODS- buy them everywhere, everyday (cigarets, soap)
SHOPING GOODS- you must go to u particular store to buy it (shoes, clothes)
SPECIALITY GOODS- high involvement process, specialized place to buy (luxury car)
CREDIT FACILITIES-the possibility of paying for the product over an extended period
WARRANTY OR QUARANTEE-a promise made by producer or seller to replace or repair defective goods during a
certain period of time
SHEET SPACE- a surface on the store where goods are displayed
BRAND SWICHERS- consumers who buy various competing products rather than being loyal to a particular brand
PRODUCT LINE- the standard pattern of sales of a product over the period that it is marked
PRODUCT MIX- together, a companys items, brands and product constitute
NICHE- a small, specialized, but profitable segment of a market
LINE STRECHING- lengthening a product line by moving either up-market or down-market, i.e. making items of higher
or lower quality (koda bought Volkswagen)
LINE FILLING- adding further items in that part of a product range which a line already covers (ronhil, ronhil light,
ronhil ekstra light...)
CREDIT- the possibility of paying for a product over an extended period
SHELF- a surface in the store on which goods are displayed
PRODUCT LIFE CYCLE- the standard pattern of sales of a product over the period that it is marketed
PROFITABILITY- the extent to which an activity provides financial gain
OPPORTUNITIES- possibilities of filling unsatisfied needs in sectors in which the co can produce goods or services
MARKET SHARE- the sales of co expressed as a % of total sales in a given market
IMAGE- the set of beliefs that the public at large holds of an organization
BLUE CHIP a stock in a large company or crporation that is considered to be a secure investment
DEFENSIVE STOCK a stock in an industry not much affected by cyclical trends that offers a good
return but only a limited chance of a rise or decline in price
GROWTH STOCK a stock which usually has a high purchasing price an a low current rate of eturn
that is expected to appreciate in capital value
MARKET-MARKER a wholesaler in stocks and shares who deals with brokers
INSTITUTIONAL INVESTORS financial organizations such as pension funds and insurance companies
which own most of the shares of all leading companies
INSIDER SHARE-DEALING the use of infomation not known to public to make a profit out of buing or
selling shares
LIABILITY- having a responsability or an obligation to do something, e.g. to pay a debt
TO BE BANKRUPT- to be insolvent: unable to pay debts
BARRIERS TO ENTRY- economic or technical factors that make it difficult or impossible to firms to enter a market or
compete with existing suppliers
DOMINANT- FIRM OLIGOPOLY- market leader can indicate its preferred price to smaller competitors
CARTEL- group of producers or sellers who fix prices and quantities in order to avoid competition and increase profit
MARKET SHARE- a cos sales expressed as a percentage of a total market
MARKET SEGMENTATION- the division of a market into submarkets according to the needs
RECESSIONS- a period during which an economy is working below its potential
BOOM an economy expands to the point where it is working at full capacity (production, employment, prices, profits,
interest rate all tend to rise)
RECESSION the demand for goods and services declines and the economy begins to work at below its potential.
(Investment, output, employment, profits, interest rates generally fall)
DEPRESSION OR SLUMP long-lasting recession
PEAK the highest point on the business cycle, which is followed by a downturn or downswing or period of
contraction
TROUGH the lowest point on the business cycle, which is followed by recovery o ran upturn or upswing or a period
of expansion
THEORIES FOR THE BUSINESS CYCLE:
Internal (endogenous) consider it to be self-generating, regular and indefinitely repeating. People infecting
one another with optimistic or pesimistic expectations
External (exogenous) look for causes outside of economic activity: scientific advances, natural disasters,
political shocks, demographic changes...
EXPECTATION beliefs about what will happend in the future
MORTAGE money borrowed in order to buy a house or flat
RENT money paid for the use of ahouse or a flat owned by somebody else
OUTPUT the amount of sth produced by a company, a country ...
INVESTING spending on new machines , factories ...
EMPLOYER owner or managers of manufacturing companies
TO CONSUME spending on goods and services
TO LAY OFF to dismiss empoyees
AUSTERITY an absence of luxory and comfort (people do not have much money to spend because there are bad
economics conditions)