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third edition
third edition

A. Ivanovic MBA
P.H. Collin


Originally published by Peter Collin Publishing

Third edition published 2003

Second edition published 1996
First edition published 1989

Bloomsbury Publishing Plc

38 Soho Square
London W1D 3HB

Copyright A. Ivanovic & P H Collin 1989, 1996

This edition copyright Bloomsbury Publishing Plc 2003

All rights reserved. No part of this publication may be reproduced

in any form or by any means without the permission of the publishers

British Library Cataloguing-in-Publication Data

A catalogue record for this book is available from the British Library

ISBN 0-7475-6621-6
eISBN-13: 978-1-4081-0213-8
Text computer typeset by Bloomsbury Publishing
Printed in Italy by Legoprint

This dictionary provides the user with a comprehensive vocabulary of terms used in
marketing. It covers such aspects of the subject as market research, advertising,
promotional aids and selling techniques.

The main words are explained in simple English, and, where appropriate, examples
are given to show how the words are used in context. Quotations are also given from
various magazines and journals, which give an idea of how the terms are used in real

The Supplement at the back of the book gives some further information which may
be of use to the user.

We are particularly grateful to Margaret Jull Costa and Stephen Curtis for valuable
comments which they made on the text.


Business terminology changes rapidly, and this second edition includes a variety of
new terms and expressions which have come into use since the first edition was
published. We have also included new examples and quotations from recent

Also included is a pronunciation guide for the main entry words.


This third edition of the dictionary takes into account the many new terms that have
come into marketing with the growth of e-commerce and the Internet. The
supplement at the back of the book has also been comprehensively updated.

We are grateful to the following for their valuable comments on the text: Ian Linton,
Georgia Hole, Dinah Jackson and Sandra Anderson.

The following symbols have been used to show the pronunciation of the main words
in the dictionary.

Stress has been indicated by a main stress mark (  ) and a secondary stress mark
(  ). Note that these are only guides as the stress of the word changes according to
its position in the sentence.

Vowels Consonants

 back b buck
 harm d dead
stop other
a type d jump
a how f fare
a hire  gold
a hour h head
 course j yellow
annoy k cab
e head l leave
e fair m mix
e make n nil
e o s save
 word shop
i keep t take
i happy t change
about theft
fit v value
near w work
u annual x loch
u pool  measure
book z zone
& shut
ABC method 1 accelerator

ABC method /e bi si med/ absolute cost /bslut kst/
noun a sales method, where the cus- noun the actual cost of placing an adver-
tomers attention is attracted, the sales- tisement in a magazine or other adver-
person then shows the benefits of the tising medium
product to the customer, and finally absolute monopoly /bslut m-
closes the deal. Full form attention, npli/ noun a situation where only
benefit, close one producer or supplier produces or
ABCs abbr Audit Bureau of supplies something The company has
Circulations an absolute monopoly of imports of
above-the-fold /b v fld/ French wine. The suppliers absolute
noun the part of a webpage which is monopoly of the product meant that cus-
seen first without having to scroll, and tomers had to accept his terms.
so is preferred for advertising absorb /bzb/ verb to take in a
above-the-line advertising /b v small item so as to form part of a larger
lan dvtaz/ noun advertising one overheads have absorbed all
for which a payment is made and for our profits all our profits have gone in
which a commission is paid to the ad- paying overhead expenses to absorb
vertising agency, e.g. an advertisement a loss by a subsidiary to write a subsid-
in a magazine or a stand at a trade fair. iary companys loss into the group ac-
Compare below-the-line advertising counts a business which has been
(NOTE: as opposed to direct marketing) absorbed by a competitor a small busi-
ness which has been made part of a
absenteeism /bs()ntiz()m/ larger one
noun staying away from work for no
good reason the rate of absenteeism absorption /bzpn/ noun mak-
or the absenteeism rate always in- ing a smaller business part of a larger
creases in fine weather Low produc- one, so that the smaller company in ef-
tivity is largely due to the high level of fect no longer exists
absenteeism. Absenteeism is high in absorption costing /bzpn
the week before Christmas. kst/ noun costing a product to in-
but the reforms still hadnt fundamentally clude both the direct costs of production
changed conditions on the shop floor:
absenteeism was as high as 20% on some days and the indirect overhead costs as well
[Business Week] accelerated depreciation /k-
absolute /bslut/ adjective com- selretd dprie()n/ noun a
plete or total system of depreciation which reduces
absolute advantage /bslut d- the value of assets at a high rate in the
vntd/ noun an advantage enjoyed early years to encourage companies, as a
by an area of the world which can pro- result of tax advantages, to invest in new
duce a product more cheaply than other equipment
areas For climatic reasons, tropical accelerator /kselret/ noun the
countries have an absolute advantage in theory that a change in demand for con-
that type of production. sumer goods will result in a greater
accept 2 account

change in demand for the capital goods the computer. access to the market
used in their production 1. the legal right to sell in a particular
accept /ksept/ verb 1. to take some- market 2. the ability to reach a market
thing which is being offered to accept by promotion and distribution
delivery of a shipment to take goods Access /kses/ a credit card system
into the warehouse officially when they formerly operated by some British
are delivered 2. to take something which banks, part of the MasterCard network
is being offered or to say yes or to accessibility /ksesblti/ noun
agree to something to accept an offer the ability of a market to be reached by
of employment she accepted the offer promotion and distribution There is
of a job in Australia he accepted much demand in the market, but, be-
2000 in lieu of notice 3. to agree for- cause of the great distances involved,
mally to receive something or to be re- accessibility is a problem. We must
sponsible for something analyse the geographical aspects in as-
acceptable /kseptb()l/ adjective sessing the markets accessibility.
which can be accepted Both parties access time /kses tam/ noun the
found the offer acceptable. The terms time taken by a computer to find data
of the contract of employment are not stored in it
acceptable to the candidate.
accommodation bill /km-
acceptance /kseptns/ noun ac- de()n bl/ noun a bill of exchange
ceptance of an offer agreeing to an of- where the person signing (the drawee)
fer to give an offer a conditional is helping another company (the
acceptance to accept an offer provided drawer) to raise a loan
that specific things happen or that spe- account /kant/ noun 1. a record of
cific terms apply we have his letter of financial transactions over a period of
acceptance we have received a letter time, such as money paid, received, bor-
from him accepting the offer rowed or owed Please send me your
acceptance against documents account or a detailed or an itemized ac-
/kseptns "enst dkjmnts/ count. 2. (in a shop) an arrangement
noun a transaction where the seller takes which a customer has to buy goods and
charge of the shipping documents for a pay for them at a later date, usually the
consignment of goods when a buyer ac- end of the month to have an account
cepts a bill of exchange Acceptance or a charge account or a credit account
against documents protects the seller with Harrods Put it on my account or
when sending goods which are not yet charge it to my account. to open an
paid for. account (of a customer ) to ask a shop

acceptance sampling /kseptns to supply goods which you will pay for
smpl/ noun testing a small sample at a later date to open an account or
of a batch to see if the whole batch is to close an account (of a shop) to start
good enough to be accepted or to stop supplying a customer on
accepted bill /kseptd bl/ noun a credit to settle an account to pay all
bill of exchange which has been signed, the money owed on an account to stop
and therefore accepted by the buyer an account to stop supplying a cus-
tomer until payment has been made for
acceptor /ksept/ noun a person goods supplied 3. on account as part
who accepts a bill of exchange by sign- of a total bill to pay money on ac-
ing it, thus making a commitment to pay count to pay to settle part of a bill ad-
it by a specified date vance on account money paid as a part
access /kses/ noun to have ac- payment 4. a customer who does a large
cess to something to be able to obtain amount of business with a firm and has
or reach something She has access to an account with it Smith Brothers is
large amounts of venture capital. verb one of our largest accounts. Our sales
to call up data which is stored in a com- people call on their best accounts twice
puter She accessed the address file on a month. 5. to keep the accounts to
accountancy 3 achiever

write each sum of money in the account account handler /kant

book The bookkeepers job is to enter hndl/, account manager /kant
all the money received in the accounts. mnd/ noun a person who works in
6. STOCK EXCHANGE a period during an advertising agency, and who is re-
which shares are traded for credit, and at sponsible for a particular client
the end of which the shares bought must we have moved the account because we
be paid for (NOTE: On the London thought it would be better suited in a smaller
Stock Exchange, there are twenty-four agency [Marketing Week]
accounts during the year, each running accounting /kant/ noun the
usually for ten working days.) 7. a no- work of recording money paid, re-
tice to take account of inflation or to ceived, borrowed or owed accounting
take inflation into account to assume methods or accounting procedures
that there will be a specific percentage accounting system accounting
of inflation when making calculations 8. machine
an arrangement which a company has applicants will be professionally qualified
with an advertising agency, where the and have a degree in Commerce or Accounting
agency deals with all promotion for the [Australian Financial Review]
company The company has moved its accounts department /kants
$3m account to another agency. The dptmnt/ noun a department in a
small agency lost the account when the company which deals with money paid,
company decided it needed a different received, borrowed or owed
marketing approach. Three agencies accounts manager /kants
were asked to make presentations, as mnd/ noun the manager of an ac-
the company had decided to switch its counts department
account. verb to account for to ex-
plain and record a money transaction accounts payable /kants
to account for a loss or a discrepancy peb()l/ noun money owed by a
The reps have to account for all their company
expenses to the sales manager. accredited agent /kredtd
ednt/ noun an agent who is ap-
accountancy /kantnsi/ noun the pointed by a company to act on its
work of an accountant They are study- behalf
ing accountancy or They are accoun-
tancy students. (NOTE: American accurate /kjrt/ adjective correct
English is accounting in this meaning) The sales department made an accu-
rate forecast of sales. The designers
accountant /kantnt/ noun 1. a produced an accurate copy of the plan.
person who keeps a companys accounts
The chief accountant of a manufactur- accurate description /kjrt d-
ing group. 2. a person who advises a skrpn/ noun an honest and true de-
company on its finances I send all my scription of a product or service in an
income tax queries to my accountant. 3. advertisement or catalogue As the ad-
a person who examines accounts vertisement was clearly not an accurate
description of the product, the company
account book /kant bk/ noun a had to pay a fine. It is not an accurate
book with printed columns which is description of the product to state that it
used to record sales and purchases gives out more light than the sun.
account director /kant da- accurately /kjrtli/ adverb cor-
rekt/ noun a person who works in an rectly The second quarters drop in
advertising agency and who oversees sales was accurately forecast by the
various account managers who are each computer.
responsible for specific clients achiever /tiv/ noun a person who
account executive /kant "- is successful or who tends to achieve his
zekjtv/ noun an employee who or her objectives It was her reputation
looks after customers or who is the link as a high achiever that made us think of
between customers and the company headhunting her. VALS
acknowledge 4 ad hoc

acknowledge /knld/ verb to tell was carried out to see how fast the ma-
a sender that a letter, package or ship- chinists worked. (NOTE: no plural)
ment has arrived He has still not ac- ad /d/ noun same as advertisement
knowledged my letter of the 24th. We (informal ) We put an ad in the paper.

acknowledge receipt of your letter of She answered an ad in the paper.

June 14th. He found his job through an ad in the
acknowledgement /k- paper.
nldmnt/ noun the act of Ad-A-Card /d kd/ noun US a
acknowledging She sent an acknowl- type of perforated card bound into a
edgement of receipt. The company magazine which a reader can tear off
sent a letter of acknowledgement after I and return to the advertiser
sent in my job application.
adapt /dpt/ verb to change some-
ACORN /ekn/ noun a classifica- thing a little to fit in with changing cir-
tion of residential areas into categories, cumstances This product must be
based on the type of people who live in adapted in line with recent technologi-
them, the type of houses, etc., much cal developments. The device has
used in consumer research ACORN been adapted for use on board aircraft.
will help us plan where to concentrate
our sales visits. Full form a classifica- adaptation /dpte()n/ noun 1.
tion of residential neighbourhoods a small change With a few minor ad-
aptations, the machine will cut square
acquire /kwa/ verb to buy to ac- holes as well as round ones. 2.
quire a company We have acquired a something which has been adapted
new office building in the centre of This machine is an adaptation of our
town. original model.
acquirer /kwar/ noun a person adaptive control model /dptv
or company which buys something kntrl md()l/ noun US a model
acquisition /kwz()n/ noun 1. for planning advertising expenditure in
something bought The chocolate fac- line with changes in consumer re-
tory is our latest acquisition. 2. the act sponses to advertising
of getting or buying something data ad banner /d bn/ noun same as
acquisition or acquisition of data ob- banner
taining and classifying data 3. the action
of acquiring new customers, as opposed ad click /d klk/ noun same as
to retention, which is keeping the loy- click-through
alty of existing customers ad click rate /d klk ret/ noun
acronym /krnm/ noun a word same as click-through rate
which is made up from the initials of added value /dd vlju/ noun an
other words The name of the company amount added to the value of a product
was especially designed to provide a or service, being the difference between
catchy acronym. BASIC is an acro- its cost and the amount received when it
nym for Beginners All-purpose Sym- is sold. Wages, taxes, etc. are deducted
bolic Instruction Code. from the added value to give the profit.
across-the-board /krs bd/ Value Added Tax
adjective (of an advertisement) running add-on sales /d n selz/ noun
for five consecutive days from Monday the sale of items which complement
to Friday items being bought, e.g. washing pow-
action shot /kn t/ noun a der sold with a dishwasher
scene with movement either in a film or address label /dres leb()l/ noun
on TV a label with an address on it
activity sampling /ktvti ad hoc /d hk/ adjective for this
smpl/ noun an observation of tasks particular purpose They run ad hoc
and their performances, carried out at surveys to test customer reaction when
random intervals Activity sampling products are launched. Shipping by
ad hoc research 5 advance

airfreight was an ad hoc arrangement of other employees in a business After

initially. several years as a college teacher, she
ad hoc research /d hk rs&t/ hopes to become an administrator. 2. a
noun research carried out for a particu- person appointed by a court to manage
lar client or in a particular market the affairs of someone who dies without
leaving a will
ad impression /d mpre()n/
noun same as ad view adopt /dpt/ verb to agree to some-
thing or to accept something
adjacency /des()nsi/ noun a
commercial which is run between two adopter /dpt/ noun a customer
TV programmes who adopts a particular product
adjust /d st/ verb to change some- adoption /dpn/ noun the deci-
thing to fit new conditions to adjust sion to buy or use a particular product
prices to take account of inflation More promotion was needed to speed up
prices are adjusted for inflation adoption of the product. Widespread
inflation-adjusted GNP moved up at a 1.3% adoption of its new shampoo range has
annual rate [Fortune] made the company the market leader.
Saudi Arabia will no longer adjust its adoption curve /dpn k&v/
production to match short-term supply with noun a line on a graph showing how
demand [Economist]
many consumers adopt or buy a new
on a seasonally-adjusted basis, output of
trucks, electric power, steel and paper
product at various time periods after the
decreased [Business Week] launch date The adoption curve shows
that most people who buy the product do
adman /dmn/ noun a man who
so at a fairly late stage.
works in advertising (informal ) The

admen are using balloons as promo- Adshel /del/ noun a trademark for
tional material. (NOTE: plural is admen) a poster site for advertisements in a bus
administer /dmnst/ verb to or-
ganise, manage or direct the whole of an adspend /dspend/ noun the
organisation or part of one She admin- amount of money spent on advertising
isters a large pension fund. ad transfer /d trnsf&/ noun
administered channel /d- same as click-through
mnstd tn()l/ noun a distribu- ad valorem duty /d vlrm
tion channel in which there is coopera- djuti/ noun the duty calculated on the
tion between businesses sales value of the goods
administered price /dmnstd advance /dvns/ noun 1. money
pras/ noun US a price fixed by a man- paid as a loan or as a part of a payment
ufacturer which cannot be varied by a to be made later to receive an advance
retailer (NOTE: the British equivalent is from the bank to make an advance of
resale price maintenance) 100 to someone to pay someone an
administration /dmnstre()n/ advance against a security She asked
noun the running of a company in re- if she could have a cash advance. We
ceivership by an administrator ap- paid her an advance on account. Can
pointed by the courts I have an advance of 100 against next
administration costs /dmn- months salary? 2. an increase an ad-
vance in trade with Eastern European
stre()n ksts/ noun the costs of
countries an advance in prices 3. in
management, not including production,
advance early, before something hap-
marketing or distribution costs
pens freight payable in advance
administrative /dmnstrtv/ ad- prices fixed in advance adjective
jective referring to administration ad- early advance booking advance
ministrative details administrative payment Advance holiday bookings
expenses are up on last year. You must give
administrator /dmnstret/ seven days advance notice of with-
noun 1. a person who directs the work drawals from the account. verb 1. to
advance freight 6 advertising expenditure

lend The bank advanced him The company has asked an advertis-
100,000 against the security of his ing agent to prepare a presentation.
house. 2. to increase Prices generally to take advertising space in a paper to
advanced on the stock market. 3. to book space for an advertisement in a
make something happen earlier The newspaper
date of the AGM has been advanced to
advertising agency /dvtaz
May 10th. The meeting with the Ger-
ednsi/ noun an office which plans,
man distributors has been advanced
designs and manages advertising for
from 11.00 to 09.30.
other companies
advance freight /dvns fret/
noun freight which is payable in advertising appeal /dvtaz -
advance pil/ noun the appeal of an advertise-
ment to the intended audience
advance man /dvns mn/ noun
US a person who publicizes a perfor- advertising appropriation
mance and sells tickets for it before the /dvtaz prprie()n/ noun
performers arrive money set aside by an organisation for
its advertising The marketing director
advert /dv&t/ noun GB same as and the chief accountant have yet to fix
advertisement (informal ) to put an
the advertising appropriation. We
advert in the paper to answer an ad- cannot afford as large an advertising
vert in the paper classified adverts appropriation as last year.
display adverts
advertise /dvtaz/ verb to arrange advertising brief /dvtaz
brif/ noun basic objectives and instruc-
and pay for publicity designed to help
tions concerning an advertising cam-
sell products or services or to find new
paign, given by an advertiser to an
employees to advertise a vacancy
advertising agency The brief stressed
to advertise for a secretary to adver-
the importance of the market segment to
tise a new product
be targeted. The advertising brief was
advertisement /dv&tsmnt/ not detailed enough and did not show
noun 1. a notice which shows that what sort of product image the adver-
something is for sale, that a service is tiser wanted to create.
offered, that someone wants something
or that a job is vacant 2. a short film on advertising budget /dvtaz
television or a short announcement on b dt/ noun money planned for
the radio which tries to persuade people spending on advertising Our advertis-
to use a product or service ing budget has been increased.
advertisement manager /d- advertising campaign
v&tsmnt mnd/ noun the man- /dvtaz kmpen/ noun
ager in charge of the advertisement sec- co-ordinated publicity or advertising
tion of a newspaper drive to sell a product
advertisement panel /d- advertising control /dvtaz
v&tsmnt pn()l/ noun a specially kntrl/ noun legislative and other
designed large advertising space in a measures to prevent abuses in advertis-
newspaper ing If voluntary advertising control
advertiser /dvtaz/ noun a per- doesnt work, then the government will
son or company that advertises The step in with legislation.
catalogue gives a list of advertisers. advertising department
advertising /dvtaz/ noun the /dvtaz dptmnt/ noun the
business of announcing that something department in a company that deals with
is for sale or of trying to persuade cus- the companys advertising
tomers to buy a product or service She advertising expenditure
works in advertising or She has a job in /dvtaz kspendt/ noun the
advertising. Their new advertising amount a company spends on its
campaign is being launched next week. advertising
advertising hoarding 7 aerial advertising

advertising hoarding /dvtaz time over the telephone. How much

hd/ noun a billboard or wooden advertising time does this programme
surface onto which advertising posters allow for?
are stuck Advertising hoardings have advertising weight /dvtaz
been taken down in the town since the wet/ noun the amount of advertising
council banned posters. Giant adver- given to a brand
tising hoardings were placed in fields
on either side of the road. advertorial /dvtril/ noun text
in a magazine which is not written by
advertising jingle /dvtaz the editorial staff but by an advertiser
d"()l/ noun a short and easily re- The objective of advertising for new products
membered tune or song to advertise a differs from that of advertising for improved
product on television, etc. products [International Journal of Advertising]
advertising manager /dvtaz in 1987, the advertising expenditure total
was 6,264m [Precision Marketing]
mnd/ noun the manager in charge
as media costs have spiralled, more financial
of advertising a companys products directors are getting involved in the advertising
advertising medium /dvtaz process [Marketing Week]
midim/ noun a type of advertise- advice /dvas/ noun a notification
ment, e.g. a TV commercial The prod- telling someone what has happened as
uct was advertised through the medium per advice according to what is written
of the trade press. (NOTE: plural for this on the advice note
meaning is media)
advice of dispatch /dvas v d-
advertising message /dvtaz spt/ noun communication from
mesd/ noun whatever a company is seller to buyer stating that goods have
trying to communicate in an advertise- been sent, specifying time and place of
ment Bad copywriting made the ad- arrival We have paid for the goods but
vertising message unclear. The as yet have received no advice of dis-
advertising message was aimed at the patch. The advice of dispatch in-
wrong target audience and therefore got formed the buyer that the goods would
little response. The poster does not arrive at Southampton on the morning
use words to get its advertising message of the 10th.
ad view /d vju/ noun the number
advertising rates /dvtaz of times an advertisement is down-
rets/ noun the amount of money loaded from a webpage and assumed to
charged for advertising space in a news- have been seen by a potential customer
paper or advertising time on TV
advise /dvaz/ verb to tell someone
advertising space /dvtaz what has happened We have been ad-
spes/ noun a space in a newspaper set vised that the shipment will arrive next
aside for advertisements week.
advertising specialities advocacy advertising /dvksi
/dvtaz speiltiz/ plural noun dvtaz/ noun advertising by a
special items given away as part of an business that expresses a particular
advertising campaign, e.g. T-shirts, point of view on some issue Because
mugs, umbrellas, etc. of its prestige as a producer, the com-
Advertising Standards Author- panys advocacy advertising had great
ity /dvtaz stnddz rti/ influence. The food companys advo-
noun the independent body which over- cacy advertising condemned unhealthy
sees the system of self-regulation in the additives in canned produce. Advo-
British advertising industry. Abbr ASA cacy advertising has changed the pub-
advertising time /dvtaz lics attitude to smoking.
tam/ noun the time on television or ra- aerial advertising /eril
dio set aside for advertising Advertis- dvtaz/ noun advertising dis-
ing time is cheapest in the afternoon. played in the air from balloons or planes
They spent a month selling advertising or in smoke designs Aerial advertis-
affiliate 8 agent

ing proved to be an effective gimmick. after-date /ft det/ noun a refer-

Aerial advertising was used to attract ence on a bill of exchange to the length
the attention of people on the beach. of time allowed for payment after a spe-
affiliate /fliet/ noun a local TV sta- cific date The after-date allowed the
tion which is part of a national network buyer three months in which to pay.
affiliated /fletd/ adjective con- after-sales service /ft selz
nected with or owned by another com- s&vs/ noun a service of a machine
pany Smiths Ltd is one of our carried out by the seller for some time
affiliated companies. after the machine has been bought
affiliate directory /flit da- after-sight /ft sat/ noun a type
rektri/ noun a directory that lists of bill of exchange which is due to be
websites belonging to affiliate paid on a specific day after acceptance
programmes (NOTE: Affiliate directories agate /"t/ noun US a measurement
provide information both to companies of advertising space in a newspaper,
that want to subscribe to a programme equal to one-fourteenth of an inch
and to those who want to set up their
own affiliate programmes.) age group /ed "rup/ noun a cate-
gory including all people whose ages
affiliate marketing /flit fall between two established points
mkt/ noun marketing that uses af- What age groups is this product meant
filiate programmes to appeal to? Research shows an in-
affiliate partner /flit ptn/ crease in smoking among the 1820 age
noun a company which puts advertising group.
onto its website for other companies, age limit /ed lmt/ noun the top
who pay for this service age at which you are allowed to do a job
affiliate programme /flit There is an age limit of thirty-five on
pr"rm/ noun a form of advertising the post of buyer.
on the web, in which a business per-
suades other businesses to put banners agency /edns/ noun 1. an office
and buttons advertising its products or or job of representing another company
services on their websites and pays them in an area They signed an agency
a commission on any purchases made agreement or an agency contract. 2. an
by their customers office or business which arranges things
for other companies
affinity card /fnti kd/ noun
credit card where a percentage of each agency commission /edns
purchase made is given by the credit km()n/ noun the commission
card company to a stated charity charged by an advertising agency
affluent /flunt/ adjective very rich agency mark-up /ednsi mk
We live in an affluent society. the p/ noun an amount added by an adver-
mass affluent people with large sums of tising agency to purchases, which forms
money in liquid assets parts of the agencys commission
affluent society /flunt ssati/ agency roster /ednsi rst/
noun a type of society where most peo- noun a group of different advertising
ple are rich agencies all working for a large
affordable method /fdb()l company
med/ noun a method of budgeting agent /ednt/ noun 1. a person who
how much can be spent on marketing represents a company or another person
and promotion, which is based on what in an area to be the agent for IBM 2. a
you can afford, rather than what you person in charge of an agency an ad-
want to achieve Affordable method vertising agent The estate agent sent
appeals to accountants, but wont help me a list of properties for sale. Our
us achieve a high enough market share trip was organised through out local
for the product. travel agent.
agents commission 9 aid-to-trade

agents commission /ednts agreed price /"rid pras/ noun a

km()n/ noun money, often a per- price which has been accepted by both
centage of sales, paid to an agent the buyer and seller
aggregate /"r"t/ adjective total, agreement /"rimnt/ noun a spo-
with everything added together ag- ken or written contract between people
gregate output or groups which explains how they will
aggregate demand /"r"t d- act a written agreement an unwrit-
mnd/ noun total demand for goods ten or verbal agreement to draw up or
and services from all sectors of the to draft an agreement to break an
economy, such as individuals, compa- agreement to sign an agreement to
nies and the government Economists witness an agreement to reach an
are studying the recent fall in aggregate agreement or to come to an agreement
demand. As incomes have risen, so on something an international agree-
has aggregate demand. ment on trade a collective wage
agreement a marketing agreement
aggregate supply /"r"t s- after three days of tough negotiations the
pla/ noun all goods and services on the company has reached agreement with its 1,200
market Is aggregate supply meeting unionized workers [Toronto Star]
aggregate demand?
agreement of sale /"rimnt v
aggregator /"r"et/ noun a sel/ noun a written contract that sets
website which collects news from other out in detail the terms agreed between
websites, allowing rapid syndication of the buyer and the seller when a property
information is sold
AGM abbr annual general meeting agree with /"ri w/ verb 1. to say
agree /"ri/ verb 1. to approve The that your opinions are the same as some-
auditors have agreed the accounts. one elses I agree with the chairman
The figures were agreed between the that the figures are lower than normal.
two parties. We have agreed the bud- 2. to be the same as The auditors fig-
gets for next year. The boss has ures do not agree with those of the ac-
agreed your prices. The terms of the counts department.
contract are still to be agreed. 2. to say aid /ed/ noun something which helps
yes to something that is suggested It verb to help
has been agreed that the lease will run
for 25 years. 3. to agree to/on some- AIDA noun a model showing stages in
thing to approve something After the effects of advertising on consumers,
some discussion he agreed to our plan. i.e. you attract their Attention, keep their
The bank will never agree to lend the
Interest, arouse a Desire and provoke
company 250,000. We all agreed on Action to purchase. Full form atten-
the need for action. to agree to do tion, interest, desire, action
something to say that you will do some- aided recall /edd rkl/ noun a
thing She agreed to be chairman. test to see how well someone remem-
Will the finance director agree to re- bers an advertisement by giving the re-
sign? to agree on something (of a spondent some help such as a picture
group of people) to come to a joint deci- which he or she might associate with it
sion about something They have fi- Even aided recall brought no reaction
nally agreed on a new marketing from the respondent. Aided recall has
strategy. Can we agree on a date for shown that we must make our advertis-
the new product launch? ing more striking. (NOTE: also called
agreed /"rid/ adjective which has prompted recall)
been accepted by everyone We pay an aid-to-trade /ed t tred/ noun a
agreed amount each month. The shop service which supports trade, e.g. bank-
is leased on agreed terms. The agreed ing and advertising The recession has
terms of employment are laid down in affected aids-to-trade and the industries
the contract. they support and supply. At that time,
aim 10 ambient media

advertising was the fastest expanding air time /e tam/, airtime noun the
aid-to-trade. time set aside for advertising on televi-
aim /em/ noun something which you sion or radio How much air time do
try to do One of our aims is to in- we need for this commercial? We
crease the quality of our products. the should look for air time on the new ra-
company has achieved all its aims the dio station. All the air time in the
company has done all the things it had world wont sell this product.
hoped to do verb to try to do some- aisle /al/ noun a space or passageway
thing Each sales rep must aim to dou- between the shelves of products on dis-
ble their previous years sales. We play in a supermarket
aim to be No. 1 in the market within two la carte / l kt/ noun a system
years. whereby advertisers use the services of
air /e/ noun a method of travelling or a whole range of businesses rather than
sending goods using aircraft to send a relying on one agency over a long
letter or a shipment by air period
air carrier /e kri/ noun a com- all-in rate /l n ret/, all-in price /-
pany which sends cargo or passengers l n pras/ noun a price which cov-
by air ers all items in a purchase such as deliv-
air forwarding /e fwd/ noun ery, tax and insurance, as well as the
the process of arranging for goods to be goods themselves
shipped by air allowable expenses /lab()l
air freight /e fret/ noun a method kspensz/ plural noun business ex-
of shipping goods in an aircraft to penses which can be claimed against tax
send a shipment by air freight air allowance /lans/ noun money re-
freight tariffs are rising moved in the form of a discount an al-
airfreight /efret/ verb to send lowance for depreciation an
goods by air to airfreight a consign- allowance for exchange loss
ment to Mexico We airfreighted the most airlines give business class the same
shipment because our agent ran out of baggage allowance as first class
stock. [Business Traveller]
air letter /e let/ noun a special the compensation plan includes base,
sheet of thin blue paper which when incentive and car allowance totalling $50,000+
[Globe and Mail (Toronto)]
folded can be sent by air mail without an
envelope (NOTE: American English is alpha activity /lf ktvti/ noun
aerogramme) the measurement of a persons brain ac-
airline /elan/ noun a company tivity as a way of measuring their reac-
which carries passengers or cargo by air tion to an advertisement
airmail /emel/ noun a way of send- alternate /lt&nt/ adjective differ-
ing letters or parcels by air to send a ent from what is actually used
package by airmail Airmail charges alternate media /lt&nt midi/
have risen by 15%. verb to send let- adjective forms of advertising which are
ters or parcels by air We airmailed the not direct mailing, e.g. TV commercials,
document to New York. magazine inserts, etc.
airmail envelope /emel alternative close /lt&ntv
envlp/ noun a very light envelope klz/ noun an act of ending a sales ne-
for sending airmail letters gotiation by asking the customer to
airmail transfer /emel trnsf&/ choose something such as a method of
noun sending money from one bank to payment
another by airmail ambient media /mbint midi/
airtight /etat/ adjective which does noun advertising media outdoors, e.g.
not allow air to get in The goods are posters, advertisements on the sides of
packed in airtight containers. buses, etc.
ambush marketing 11 appraisal

ambush marketing /mb annual depreciation /njul

mkt/ noun the linking of a promo- dpriie()n/ noun a reduction in the
tion campaign to an event such as a book value of an asset at a particular
sporting contest which is sponsored by rate per year. straight line
another manufacturer without paying a depreciation
fee annual income /njul nk m/
analyse /nlaz/, analyze verb to noun money received during a calendar
examine someone or something in detail year
to analyse a statement of account to
annual report /njul rpt/ noun
analyse the market potential a report of a companys financial situa-
analysis /nlss/ noun a detailed tion at the end of a year, sent to all the
examination and report a job analysis shareholders
market analysis Her job is to pro-
anonymous product /nnms
duce a regular sales analysis. (NOTE:
prd kt/ noun a product with no ap-
plural is analyses)
parent brand name, used in advertise-
analyst /nlst/ noun a person who ments to highlight the product being
analyses a market analyst a systems promoted Brand X is the anonymous
analyst product which never gets your washing
ancillary-to-trade /nslri t completely white. No one watching
tred/ noun a service which supports the commercial would believe the anon-
trade, e.g. banking and advertising ymous product was as bad is it seemed.
The recession has affected ancillar- What happens if the respondent
ies-to-trade and the industries they sup- chooses the anonymous product instead
port and supply. Advertising was the of ours?
fastest expanding ancillary-to-trade at anti- /nti/ prefix against
that time.
anti-dumping /ntid mp/ adjec-
animatic /nmtk/ noun a rough tive intended to stop surplus goods be-
outline version of a television commer- ing sold in foreign markets at a price
cial shown to the advertiser for approval that is lower than their marginal cost
The animatic was sent back to the
agency with several criticisms. The anti-inflationary measure /nti
animatic impressed the advertiser be- nfle()n()ri me/ noun a mea-
cause it put the message over stylishly. sure taken to reduce inflation
If the animatic is approved, the cre- anti-trust /nti tr st/ adjective at-
ative team will begin work on the final tacking monopolies and encouraging
product. competition anti-trust laws or
animation /nme()n/ noun a legislation
cartoon film, a film made from drawings any other business /eni
annual /njul/ adjective for one bzns/ noun an item at the end of an
year an annual statement of income agenda, where any matter can be raised.
They have six weeks annual leave. Abbr AOB
The company has an annual growth of AOB abbr any other business
real wages have risen at an annual rate of
appeal /pil/ noun being attractive
only 1% in the last two years [Sunday Times] apperception /psepn/ noun
the remuneration package will include an thematic apperception test
attractive salary, profit sharing and a company
car together with four weeks annual holiday application form /plke()n
[Times] fm/ noun a form to be filled in when
annual accounts /njul - applying for a new issue of shares or for
kants/ plural noun the accounts pre- a job
pared at the end of a financial year appraisal /prez()l/ noun a calcu-
The annual accounts have been sent to lation of the value of someone or
the shareholders. something
appraiser 12 article

we are now reaching a stage in industry and prove the terms of a contract The
commerce where appraisals are becoming part proposal was approved by the board.
of the management culture. Most managers now
take it for granted that they will appraise and be APR abbr annual percentage rate
appraised [Personnel Management]
area /eri/ noun 1. a subject a
appraiser /prez/ noun US a per- problem area or an area for concern 2.
son who estimates how much money a part of a country, a division for com-
something is worth mercial purposes Her sales area is the
North-West. He finds it difficult to
appro /pr/ noun same as ap- cover all his area in a week.
proval to buy something on appro
to buy something which you will only area code /eri kd/ noun a spe-
pay for if it is satisfactory cial telephone number which is given to
a particular area The area code for
approach /prt/ noun getting in central London is 0207.
touch with someone with a proposal area manager /eri mnd/
The company made an approach to the noun a manager who is responsible for a
supermarket chain. The board turned companys work in a specific part of the
down all approaches on the subject of country
mergers. We have had an approach
from a Japanese company to buy our arithmetic mean /rmetk
car division. She has had an approach min/ noun same as average
from a firm of headhunters. verb to armchair research /mte r-
get in touch with someone with a pro- s&t/ noun looking for information
posal He approached the bank with a that has already been compiled and pub-
request for a loan. The company was lished in reference books such as direc-
approached by an American publisher tories Most of our armchair research
with the suggestion of a merger. We can be done in libraries. If we cannot
have been approached several times but find all the data through armchair re-
have turned down all offers. She was search, we shall have to do a market
approached by a headhunter with the survey of our own. (NOTE: also called
offer of a job. desk research)
appropriation /prprie()n/ arrears /rz/ plural noun 1. money
noun the act of putting money aside for which is owed, but which has not been
a special purpose appropriation of paid at the right time a salary with ar-
funds to the reserve rears effective from January 1st ar-
rears of interest to allow the payments
appropriation account /prpri- to fall into arrears salary with arrears
e()n kant/ noun the part of a effective from January 1st We are
profit and loss account which shows pressing the company to pay arrears of
how the profit has been dealt with such interest. You must not allow the mort-
as how much has been given to the gage payments to fall into arrears. 2.
shareholders as dividends, how much is in arrears owing money which should
being put into the reserves etc. have been paid earlier The payments
approval /pruv()l/ noun 1. agree- are six months in arrears. He is six
ment to submit a budget for approval weeks in arrears with his rent.
2. on approval a sale where the buyer art director /t darekt/ noun a
only pays for goods if they are satisfac- coordinator of creative work in advertis-
tory to buy a photocopier on approval ing The art director briefed the copy-
approve /pruv/ verb 1. to ap- writer and illustrator on the main points
prove of something to think something of the campaign. After three years as
is good The chairman approves of the an agency photographer, he was made
new company letter heading. The art director.
sales staff do not approve of interfer- article /tk()l/ noun 1. a product or
ence from the accounts division. 2. to thing for sale to launch a new article
agree to something officially to ap- on the market a black market in lux-
article numbering system 13 atmospherics

ury articles 2. a section of a legal agree- assets over liabilities. Her assets are
ment such as a contract, treaty, etc. only 640 as against liabilities of
see article 8 of the contract 24,000.
article numbering system many companies are discovering that a
well-recognised brand name can be a priceless
/tk()l n mbr sstm/ noun a asset that lessens the risk of introducing a new
universal system of identifying articles product [Duns Business Month]
for sale, using a series of digits which
can be expressed as bar codes
asset stripping /set strp/
noun the practice of buying a company
artificial obsolescence at a lower price than its asset value, and
/tf()l bsles()ns/ noun the then selling its assets
practice of deliberately making old
models seem out of date by bringing out asset value /set vlju/ noun the
new ones with changes and additional value of a company calculated by add-
features which will attract the customer ing together all its assets
Artificial obsolescence is making our associate programme /ssit
products seem cheap and disposable. pr"rm/ noun same as affiliate
Artificial obsolescence means that no programme
product can be fashionable for very assortment /stmnt/ noun a
long. combination of goods sold together
artwork /tw&k/ noun an original The box contains an assortment of choc-
work to be used for an advertisement, olates with different centres.
e.g. drawings, layouts, photographs assumptive close /s mptv
ASA abbr Advertising Standards klz/ noun an act of ending the sales
Authority negotiation by assuming that the cus-
asking price /sk pras/ noun a tomer has agreed to buy, and then ask-
price which the seller is hoping will be ing further details of payments,
paid for the item being sold the asking delivery, etc.
price is 24,000 asterisk law /strsk l/ noun a
assay mark /se mk/ noun a law which prevents telemarketing agen-
mark put on gold or silver items to show cies from trying to sell to people who
that the metal is of the correct quality have indicated that they do not want to
be approached by telephone salesmen
assembly /sembl/ noun 1. the pro- by putting an asterisk against their
cess of putting an item together from names in the phone book
various parts There are no assembly
instructions to show you how to put the ATM abbr automated telling machine
computer together. We cant put the Swiss banks are issuing new cards which will
allow cash withdrawals from ATMs in Belgium,
machine together because the instruc- Denmark, Spain, France, the Netherlands,
tions for assembly are in Japanese. 2. an Portugal and Germany [Banking Technology]
official meeting the major supermarket operator is planning a
assembly line /sembli lan/ noun new type of bank that would earn 90% of its
a production system where a product revenue from fees on automated teller machine
transactions. With the bank setting up ATMs at
such as a car moves slowly through the 7,000 group outlets nationwide, it would have a
factory with new sections added to it as branch network at least 20 times larger than any
it goes along She works on an assem- of the major banks [Nikkei Weekly]
bly line or She is an assembly line atmosphere /tmsf/ noun 1. the
worker. general feeling in a shop or shopping
assessment /sesmnt/ noun a cal- area 2. the effect that the medium itself
culation of value an assessment of through which an advertisement is pre-
damages a property assessment as- sented has on the audience
sessment of damages a tax assessment atmospherics /tmsferks/ noun
asset /set/ noun something which 1. a way of encouraging customer inter-
belongs to a company or person, and est by using the senses such as smell and
which has a value He has an excess of sound 2. creating an overall image of a
ATR 14 Audit Bureau of Circulations

company through the design of its pre- auction /kn/ noun a method of
mises and products selling goods where people make bids,
and the item is sold to the person who
ATR noun a model showing stages in makes the highest offer The equip-
the effects of advertising on the con- ment was sold by auction or at auction.
sumer, where the customer becomes Their furniture will be sold in the auc-
aware of the product, buys it once to try tion rooms next week. They an-
it and then buys it again when he finds it nounced a sale by auction of the
is satisfactory. Full form awareness, fire-damaged stock. to put an item
trial, repeat up for auction to offer an item for sale
atrium /etrim/ noun a very large at an auction verb to sell something at
open space in a building, usually with a an auction The factory was closed and
glass roof, fountains and plants, which the machinery was auctioned off.
acts as a central meeting point, linking auctioneer /kn/ noun the per-
shopping and office areas and son who conducts an auction
auction house /kn has/ noun
attention /tenn/ noun careful a company which specialises in holding
thought or consideration auction sales, especially of items such as
attitude /ttjud/ noun the way in antiques or paintings
which a person behaves or thinks a auction mart /kn mt/ noun
persons attitude towards an adver- US auction rooms
tisement a persons reaction to an audience /dins/ noun 1. the num-
advertisement ber of people who watch a TV
attitude measurement /ttjud programme or listen to a radio
memnt/, attitude testing programme 2. the number of people
/ttjud test/ noun the act of as- who are exposed to an advertisement
certaining the way in which a person audience accumulation /dins
views something by assigning scores to kjumjle()n/ noun the building
various factors Attitude measurement up of an audience by repeating adver-
has given us a good idea of how con- tisements over a period of time
sumers view our product. Will attitude
testing lead to the redesigning of these audience composition /dins
heaters? kmpz()n/ noun the way an audi-
ence is made up, i.e. the age range, sex,
attitude research /ttjud r- lifestyles, etc.
s&t/, attitude survey /ttjud
s&ve/ noun 1. the act of carrying out audience research /dins r-
a survey to discover peoples attitudes s&t/ noun research into the attitudes
to products, advertisements or the com- of an audience to an advertising
panies producing them 2. research that campaign
attempts to discover whether peoples audimeter /dmit/ noun an elec-
feelings about something, such as the tronic device attached to a TV set,
company they work for, are positive or which records details of a viewers
negative viewing habits
attitude scale /ttjud skel/ noun audiovisual /di vul/ noun
a device which measures or tests atti- media that can be seen and heard, e.g. a
tudes by analysing a subjects responses TV commercial The exhibition was
devoted to the latest in audiovisual
attrition /tr()n/ noun a decrease equipment.
in the loyalty of consumers to a product,
due to factors such as boredom, desire audit /dt/ noun the examination of
for a change We must adapt our prod- the books and accounts of a company
ucts if we are to avoid attrition. Attri- to carry out the annual audit
tion showed the company that brand Audit Bureau of Circulations
loyalty could not be taken for granted. /dt bjr v s&kjle()nz/
augmented product 15 awareness

noun an organisation which verifies and sales 2. on average in general On

publishes the circulation of magazines average, 15 worth of goods are stolen
and newspapers. Abbr ABCs every day. adjective 1. the middle of a
augmented product /"mentd set of figures the average figures for
prd kt/ noun a product with added the last three months the average in-
benefits such as warranties or installa- crease in prices the average price
tion service etc. The average cost per unit is too high.
The average sales per representative
aural signature /rl s"nt/ are rising. 2. not very good The com-
noun musical sounds used as a signature panys performance has been only aver-
to identify a product or service age. Hes only an average worker.
automatic /tmtk/ adjective a share with an average rating might yield 5
which works or takes place without any per cent and have a PER of about 10
person making it happen There is an [Investors Chronicle]
automatic increase in salaries on Janu- the average price per kilogram for this
season to the end of April has been 300 cents
ary 1st. [Australian Financial Review]
automatic merchandizing average cost pricing /v()rd
/tmtk m&tndaz/, auto- kst pras/ noun pricing based on
matic selling /tmtk sel/, au- the average cost of producing one unit
tomatic vending /tmtk of a product
vend/ noun selling through a ma-
average due date /v()rd dju
chine Automatic selling is popular be-
det/ noun the average date when sev-
cause of the low labour costs involved.
eral different payments fall due
automatic telling machine average frequency /v()rd
/tmtk tel min/ noun a ma- frikwnsi/ noun the average number
chine which gives out money when a of times a consumer will see a particular
special card is inserted and special in- advertisement We will have to buy a
structions given lot of advertising time to attain a high
automatic vending machine average frequency. What average fre-
/tmtk vend min/ noun a quency do we need to get this advertise-
machine which provides drinks, ciga- ment across to the target audience?
rettes etc., when a coin is put in average out /v()rd at/ verb
automation /tme()n/ noun to come to a figure as an average It
the use of machines to do work with averages out at 10% per annum. Sales
very little supervision by people increases have averaged out at 15%.
availability /velblt/ noun 1. average quarter-hour figure
being easily obtained offer subject to /v()rd kwtr a f"/ adjec-
availability the offer is valid only if the tive the average number of people
goods are available 2. the time and num- watching a TV programme during a
ber of advertising slots which are avail- 15-minute period
able to be used awareness /wens/ noun the state
average /v()rd/ noun 1. a num- of being conscious of an advertise-
ber calculated by adding several figures ments message or of a brands exis-
together and dividing by the number of tence and qualities The survey after
figures added the average for the last the campaign showed advertising
three months or the last three months awareness had remained low. ATR,
average sales average or average of maximal awareness
B2B 16 background

B2B /bi t bi/ adjective referring to ing the period from 1945 to 1965, when
advertising or marketing that is aimed at the population of the UK and the USA
other businesses rather than at consum- increased rapidly
ers (NOTE: The word is most commonly back /bk/ noun the opposite side to
used of business-to-business dealings the front Write your address on the
conducted over the Internet.) back of the envelope. The conditions
B2B auction /bi t bi kn/ of sale are printed on the back of the in-
noun a web marketplace where supplier voice. Please endorse the cheque on
companies bid against one another to of- the back. adjective referring to the
fer the lowest price for a particular prod- past a back payment verb to back
uct or service, while the buyer company someone to help someone financially
waits until the sellers have reduced the The bank is backing us to the tune of
price to one that it can afford (NOTE: 10,000. She is looking for someone
Businesses have to register to take to back her project.
part in B2B auctions by providing their the businesses we back range from start-up
credit-card information and shipping ventures to established companies in need of
preferences, and also have to agree to further capital for expansion [Times]
the sites code of conduct.) back cover /bk k v/ noun the
B2B commerce /bi t bi km&s/ back of a magazine cover, which can be
noun business done by companies with used for advertising
other companies, rather than with indi- backdate /bkdet/ verb to put an
vidual consumers earlier date on a document such as a
B2B exchange /bi t bi ks- cheque or an invoice Backdate your
tend/ noun same as exchange invoice to April 1st. The pay increase
is backdated to January 1st.
B2B web exchange /bi t bi
web kstend/ noun same as backdoor selling /bkd sel/
exchange noun the practice of bypassing an or-
ganisations bureaucracy and selling di-
B2B website /bi t bi websat/ rect to the chief decision-maker in it If
noun a website that is designed to help we did not resort to backdoor selling the
businesses trade with each other on the right department might never hear of us.
Internet The chairman was asked out for a
B2C /bi t si/ adjective referring to meal by the sales director of the other
advertising or marketing that is aimed at company to try a little backdoor selling.
consumers rather than at other busi- backer /bk/ noun 1. a person or
nesses (NOTE: The word is most com- company that backs someone He has
monly used of business-to-consumer an Australian backer. One of the com-
dealings conducted over the Internet.) panys backers has withdrawn. 2. the
B2C website /bi t si websat/ backer of a bill the person who backs a
noun an online shop that sells products bill 3. a piece of publicity material
to consumers via its website placed at the back of a display or stand
baby boomer /bebi bumz/ noun background /bk"rand/ noun
a market composed of people born dur- past work or experience My back-
background music 17 balance of payments

ground is in the steel industry. The backup /bk p/ adjective supporting

company is looking for someone with a or helping We offer a free backup ser-
background of success in the electronics vice to customers. After a series of
industry. She has a publishing back- sales tours by representatives, the sales
ground. What is his background? or director sends backup letters to all the
Do you know anything about his contacts.
background? backup ad /bk p d/ noun an ad-
background music /bk"rand vertisement designed to accompany edi-
mjuzk/ noun music played over the torial material in a publication
tannoy in a shop, supermarket, atrium backup copy /bk p kpi/ noun a
etc., as a means of calming potential copy of a computer disk to be kept in
customers case the original disk is damaged
backing /bk/ noun financial sup- backward integration /bkwd
port He has the backing of an Austra- nt"re()n/ noun a process of ex-
lian bank. The company will succeed pansion in which businesses which deal
only if it has sufficient backing. Who with different stages in the production
is providing the backing for the project? or sale of the same product join to-
Where does the backing for the pro- gether, i.e. a business becomes its own
ject come from? supplier Buying up rubber plantations
the company has received the backing of a is part of the tyre companys backward
number of oil companies who are willing to pay integration policy. Backward integra-
for the results of the survey [Lloyds List] tion will ensure cheap supplies but for-
ward integration would bring us nearer
backload /bkld/ verb to make to the market. Compare forward inte-
sure that most of the costs of a promo-
gration (NOTE: also called vertical
tional campaign come in the later stages,
so that they can be regulated according
to the response received. The campaign bad debt /bd det/ noun a debt
can then be cut back if the response rate which will not be paid, usually because
is inadequate this is opposed to the debtor has gone out of business, and
frontloading, where most of the costs which has to be written off in the ac-
are incurred in the early stages. Com- counts The company has written off
pare frontload 30,000 in bad debts.
backlog /bkl"/ noun work which baggage cart /b"d kt/ noun
has piled up waiting to be done, e.g. or- US a metal holder on wheels, on which
ders or letters The warehouse is trying baggage can be placed to be moved eas-
to cope with a backlog of orders. ily in an airport, train station, etc.
Were finding it hard to cope with the bait /bet/ noun an article which is sold
backlog of paperwork. at a loss to attract customers This is an
attractive enough product to use as bait.
back of book /bk v bk/ noun The shops best bargains were dis-
the last pages of a magazine containing played in the window as bait.
bait ad /bet d/ noun an advertise-
back-of-the-house services ment for low-priced goods, used to at-
/bk v has s&vsz/ plural tract customers into a shop
noun services which are in the back part
of a shop bait and switch /bet nd swt/
noun a sales technique where the sales-
back orders /bk dz/ plural person offers what looks like an attrac-
noun orders received and not yet ful- tive bargain and then says at the last
filled, usually because the item is out of minute that it is not available and re-
stock It took the factory six weeks to places it with something inferior
clear all the accumulated back orders. balance of payments /blns v
back payment /bk pemnt/ pemnts/ noun a comparison between
noun paying money which is owed total receipts and payments arising from
balance sheet 18 bank draft

a countrys international trade in goods, ferent item bound along with the main
services and financial transactions one These banded packs have been
balance sheet /blns it/ noun a specially designed for our sales promo-
statement of the financial position of a tion drive.
company at a particular time such as the bandwidth /bndwd/ noun a mea-
end of the financial year or the end of a surement of the capacity of a fibre-optic
quarter showing the companys assets cable to carry information to and from
and liabilities Our accountant has the Internet (NOTE: The higher the
prepared the balance sheet for the first bandwidth, the faster information
half-year. The company balance sheet passes through the cable.)
for the last financial year shows a worse
position than for the previous year.
bangtail /btel/ noun US a type of
folded mailer, with a pocket for an in-
COMMENT: The balance sheet shows the
state of a companys finances at a certain
formation card or reply coupon and a
date; the profit and loss account shows
flap that tucks in
the movements which have taken place bankable paper /bkb()l
since the end of the previous accounting pep/ noun a document which a bank
period. A balance sheet must balance, will accept as security for a loan
with the basic equation that assets (i.e.
what the company owns, including money
bank account /bk kant/ noun
owed to the company) must equal liabili- an account which a customer has with a
ties (i.e. what the company owes to its bank, where the customer can deposit
creditors) plus capital (i.e. what it owes to and withdraw money to open a bank
its shareholders). A balance sheet can be account to close a bank account
drawn up either in the horizontal form, How much money do you have in your
with (in the UK) liabilities and capital on bank account? If you let the balance
the left-hand side of the page (in the USA, in your bank account fall below 100,
it is the reverse) or in the vertical form, you have to pay bank charges.
with assets at the top of the page, fol-
lowed by liabilities, and capital at the bot-
bank base rate /bk bes ret/
tom. Most are usually drawn up in the noun a basic rate of interest on which
vertical format, as opposed to the more the actual rate a bank charges on loans
old-fashioned horizontal style. to its customers is calculated
balloon /blun/ noun a loan where bank bill /bk bl/ noun 1. GB
the last repayment is larger than the same as bankers bill 2. US a piece of
others printed paper money
balloon payment /blun bank card /bk kd/ noun a credit
pemnt/ noun the last payment, usu- card or debit card issued to a customer
ally much larger than the others, that is by a bank for use instead of cash when
made when repaying a balloon loan buying goods or services (NOTE: There
band /bnd/ noun a strip of paper or are internationally recognised rules
plastic or a rubber ring put round arti- that govern the authorisation of the use
cles to attach them together of bank cards and the clearing and set-
tlement of transactions in which they
banded /bndd/ adjective attached are used.)
with a band
banded offer /bndd f/ noun a bank charges /bk tdz/ plu-
type of sales promotion involving the ral noun charges which a bank makes
offer of an additional item along with for carrying out work for a customer
the main one The banded offer con- (NOTE: American English is service
sisted of a full-sized bottle of shampoo charge)
along with a small bottle of hair bank credit /bk kredt/ noun
conditioner. loans or overdrafts from a bank to a
banded pack /bndd pk/ noun a customer
pack which includes two items attached bank draft /bk drft/ noun an
to form a pack, or with an additional dif- order by one bank telling another bank,
banker 19 barrier

usually in another country, to pay bar code /b kd/ noun a system
money to someone of lines printed on a product which,
banker /bk/ noun a person who is when read by a computer, give a refer-
in an important position in a bank ence number or price
bankers bill /bkz bl/, bank bar coding /b kd/ noun the
bill /bk bl/ noun an order by one process of attaching an identifying label,
bank telling another bank, usually in an- written in machine-readable code and
other country, to pay money to someone able to be read by a scanner, to a product
or container (NOTE: Bar codes are use-
bank giro /bk dar/ noun GB ful for stock control and order picking
a method used by clearing banks to and can be used to trace a product
transfer money rapidly from one ac- through every stage of a transaction
count to another from packaging to customer delivery.)
banking account /bk - bargain /b"n/ noun 1. an agree-
kant/ noun US an account which a ment on the price of something to
customer has with a bank strike a bargain or to make a bargain
bank manager /bk mnd/ to drive a hard bargain to be a difficult
noun the person in charge of a branch of person to negotiate with it is a bad
a bank He asked his bank manager for bargain it is not worth the price 2.
a loan. something which is cheaper than usual
bank transfer /bk trnsf&/ That car is a (real) bargain at 500.
noun moving money from a bank ac- verb to discuss a price for something
count to another account You will have to bargain with the
dealer if you want a discount. They
banner /bn/ noun 1. material spent two hours bargaining about or
stretched between two walls or build- over the price. (NOTE: you bargain with
ings, carrying an advertising message someone over or about or for
There were banners across the street something)
advertising the charity run. 2. an online
interactive advertisement that appears bargain basement /b"n
on a webpage, usually at the top or bot- besmnt/ noun a basement floor in a
tom, and contains a link to the website shop where goods are sold cheaply
of the business whose products or ser- Im selling this at a bargain basement
vices are being advertised (NOTE: Ban- price Im selling this very cheaply
ner ads often use graphics images and bargain hunter /b"n h nt/
sound as well as text.) noun a person who looks for cheap
banner advertising /bn deals
dvtaz/ noun a website advertis- bargaining /b"n/ noun the act
ing which runs across the top of a of discussing between two persons or
webpage, similar to newspaper groups, to achieve a settlement, usually
headlines wage increases for workers
banner exchange /bn ks- bargaining position /b"n p-
tend/ noun an agreement between z()n/ noun the statement of position
two or more businesses, in which each by one group during negotiations
allows the others advertising banners to bargaining power /b"n
be displayed on its website pa/ noun the strength of one person
banner headline /bn hedlan/ or group when discussing prices or
noun a headline set in very large black wage settlements
type, running across a page barrier /bri/ noun anything which
bar chart /b tt/ noun a chart makes it difficult for someone to do
where values or quantities are shown as something, especially sending goods
columns of different heights set on a from one place to another to impose
base line, the different lengths express- trade barriers on certain goods to re-
ing the quantity of the item or unit strict the import of some goods by
barrier to entry 20 basic industry

charging high duty They considered exchange for trucks, food, planes and
imposing trade barriers on some food chemicals [Wall Street Journal]
products. to lift trade barriers from bartering /btr/ noun the act of
imports to remove restrictions on im- exchanging goods for other goods and
ports The government has lifted trade not for money
barriers on foreign cars. barrier to base /bes/ noun 1. the lowest or first
entry into a market something which position Turnover increased by 200%,
makes it difficult for a company to enter but started from a low base. 2. a place
a new market, e.g. start-up costs where a company has its main office or
a senior European Community official has factory, or a place where a businessper-
denounced Japanese trade barriers, saying they sons office is located The company
cost European producers $3 billion a year
[Times] has its base in London and branches in
all the European countries. He has an
to create a single market out of the EC
member states, physical, technical and tax office in Madrid which he uses as a base
barriers to free movement of trade between while travelling in Southern Europe.
member states had to be removed. Imposing verb to set up a company or a person in
VAT on importation of goods from other a place a London-based sales execu-
member states was seen as one such tax barrier
tive The European manager is based
in our London office. Our overseas
barrier to entry /bri t entri/ branch is based in the Bahamas.
noun a factor that makes it impossible the base lending rate, or prime rate, is the
or unprofitable for a company to try to rate at which banks lend to their top corporate
start selling its products in a particular borrowers [Wall Street Journal]
market (NOTE: Barriers to entry may be other investments include a large stake in the
created, for example, when companies Chicago-based insurance company
[Lloyds List]
already in a market have patents that
prevent their goods from being copied, base line /bes lan/ noun the part of
when the cost of the advertising promotional material that contains basic
needed to gain a market share is too information about the organisation such
high, or when an existing product com- as its name and address
mands very strong brand loyalty.) basement /besmnt/ noun a section
barrier to exit /bri t e"zt/ of a shop which is underground
noun a factor that makes it impossible base year /bes j/ noun the first
or unprofitable for a company to leave a year of an index, against which changes
market where it is currently doing busi- occurring in later years are measured.
ness (NOTE: Barriers to exit may be cre- database
ated, for example, when a company basic /besk/ adjective 1. normal 2.
has invested in specialist equipment most important 3. simple, or from which
that is only suited to manufacturing everything starts He has a basic
one product, when the costs of retrain- knowledge of the market. To work at
ing its workforce would be very high, or the cash desk, you need a basic qualifi-
when withdrawing one product would cation in maths.
have a bad effect on the sales of other
products in the range.) basic commodities /besk k-
mdtiz/ plural noun ordinary farm
barter /bt/ noun 1. a system in produce, produced in large quantities,
which goods are exchanged for other e.g. corn, rice, sugar, etc.
goods and not sold for money 2. a sys-
tem in which advertising space or time basic discount /besk dskant/
is exchanged for goods from the adver- noun a normal discount without extra
tiser verb to exchange goods for other percentages Our basic discount is
goods and not for money They agreed 20%, but we offer 5% extra for rapid
a deal to barter tractors for barrels of settlement.
wine. basic industry /besk ndstri/
under the barter agreements, Nigeria will noun the most important industry of a
export 175,000 barrels a day of crude oil in country, e.g. coal, steel or agriculture
basic necessities 21 benchmark

basic necessities /besk Bayesian decision theory

nsestiz/ plural noun the very least /bezin ds()n ri/ noun a
that people need to live, e.g. food and method for helping decision-making, of-
clothing Being unemployed makes it ten applied to new product develop-
difficult to afford even the basic ment. The decision-maker is aware of
necessities. alternatives, can work out the probable
basic price /besk pras/ , basic advantages or disadvantages of the al-
rate /besk ret/ noun the price of a ternatives, and makes up his or her mind
product or service that does not include according to the value of the best
any extras This is a rather high basic alternative.
price. Please make clear whether BDI abbr brand development index
1,000 is the basic rate or whether it is behavioural segmentation /b-
inclusive of spare parts. hevjrl se"mnte()n/,
basic product /besk prd kt/ behaviouristic segmentation noun
noun the main product made from a raw the segmentation or division of the mar-
material ket according to customers buying hab-
its and usage of a product
basics /besks/ plural noun simple Behavioural segmentation will mean
and important facts She has studied there are several distinct target audi-
the basics of foreign exchange dealing. ences for our product.
to get back to basics to consider the
main facts again behind schedule /bhand
edul/ noun late The agency is way
basis /bess/ noun 1. a point or num- behind schedule with the promotional
ber from which calculations are made material.
We forecast the turnover on the basis of
a 6% price increase. 2. the general believer /bliv/ noun in the VALS
terms of agreement or general principles lifestyle classification, someone with
on which something is decided on a conventional values and strong princi-
short-term or long-term basis for a ples who buy traditional, well-known
short or long period He has been ap- products
pointed on a short-term basis. We bells and whistles /belz nd
have three people working on a free- ws()lz/ plural noun every possible
lance basis. feature that has been included in an ad-
basket of currencies /bskt v vertising campaign
k rnsiz/ noun a group of other cur- below-the-line advertising /bl
rencies used to establish the value of a lan dvtaz/ noun advertising
particular unit of currency which is not paid for and for which no
batch /bt/ noun a group of items commission is paid to the advertising
which are made at one time This agency, e.g. work by staff who are
batch of shoes has the serial number manning an exhibition. Compare
above-the-line advertising
2502. verb to put items together in
groups to batch invoices or cheques below-the-line expenditure /b-
l lan kspendt/ noun 1.
batch number /bt n mb/ noun payments which do not arise from a
a number attached to a batch When companys normal activities, e.g. redun-
making a complaint always quote the dancy payments 2. extraordinary items
batch number on the packet. which are shown in the profit and loss
batch production /bt pr- account below net profit after taxation,
d kn/ noun production in batches as opposed to exceptional items which
battle /bt()l/ noun a fight battle are included in the figure for profit be-
of the brands competition in the market fore taxation
between existing product brands This benchmark /bentmk/ noun 1. a
battle of the brands will lead to dra- standard used to measure performance
matic price-cutting. (NOTE: A benchmark was originally a
benchmarking 22 bias

set of computer programs that was bespoke /bspk/ adjective made

used to measure how well a particular to order or made to fit the requirements
computer performed in comparison of the customer
with similar models.) 2. a point in an in- bespoke tailoring /bspk
dex which is important, and can be used telr/ noun the making of clothing
to compare with other figures for customers, to fit their individual
the US bank announced a cut in its prime, the measurements or requirements
benchmark corporate lending rate, from 10%
to 10% [Financial Times] best-before date /best b f det/
the benchmark 11% Treasury due noun the date stamped on the label of a
2003/2007 was quoted at 107 11/32, down 13/32 food product, which is the last date on
from Monday [Wall Street Journal] which the product is guaranteed to be of
benchmarking /bentmk/ good quality. sell-by date, use-by
noun the testing of an audiences re- date
sponse using a benchmark best-in-class /best n kls/ adjec-
benchmark measure /bentmk tive more effective and efficient, espe-
me/ noun the measure of a target au- cially in acquiring and processing
diences response at the beginning of an materials and in delivering products or
advertising campaign which is then services to customers, than any other or-
compared to responses at the end of the ganisation in the same market or indus-
campaign to test its efficiency trial sector
benefit /benft/ noun the way in best practice /best prkts/ noun
which a product or service will improve the most effective and efficient way to
the quality of life of the purchaser, as do something or to achieve a particular
opposed to features which highlight aim (NOTE: In business, best practice is
the particular important aspects of the often determined by benchmarking,
product or service itself that is by comparing the method one
what benefits does the executive derive
organisation uses to carry out a task
from his directorship? Compensation has with the methods used by other similar
increased sharply in recent years and fringe organisations and determining which
benefits for directors have proliferated method is most efficient and effective.)
[Duns Business Month]
best-selling /best sel/ adjective
salary is negotiable to 30,000, plus car and
a benefits package appropriate to this senior which sells very well These computer
post [Financial Times] disks are our best-selling line.
California is the latest state to enact a program best value /best vlju/ noun a
forcing welfare recipients to work for their system adopted by the UK government
benefits [Fortune] to ensure that local authorities provide
salary range is $54,957 $81,189, with a services to the public in the most effi-
competitive benefits package cient and cost-effective way possible
[Washington Post]
(NOTE: Best value, which came into
benefit segmentation /benft force with the Local Government Act
se"mnte()n/ noun the division of 1999, replaced the previous system of
a market into segments according to the compulsory competitive tendering
types of benefit obtained by the cus- (CCT). It requires local authorities to
tomer from a product such as ease of review all their services over a
availability, light weight five-year period, to set standards of
berth /b&/ noun the place in a har- performance, and to consult with local
bour where a ship can tie up verb to taxpayers and service users.)
tie up at a berth The ship will berth at Better Business Bureau /bet
Rotterdam on Wednesday. bzns bjr/ US an organisation of
berth cargo /b& k"/ noun local business executives that promotes
cargo carried at especially low rates If better business practices in their town
we do not send the goods as berth cargo bias /bas/ noun favouring one group
we will have to charge the buyer more. or person rather than another A postal
bid 23 billboard

survey will do away with bias. The big-ticket /b" tkt/ adjective cost-
trainee interviewers were taught how to ing a lot of money
control bias and its effects. big ticket item /b" tkt atm/
bid /bd/ noun 1. an offer to buy some- noun a large expensive item, e.g. a car,
thing at a specific price to make a bid washing machine, etc.
for something to offer to buy some- bilateral /balt()rl/ adjective be-
thing We made a bid for the house. tween two parties or countries The
The company made a bid for its rival. minister signed a bilateral trade
to make a cash bid to offer to pay cash agreement.
for something to put in a bid for trade between Japan and China will probably
something or to enter a bid for some- exceed $30 billion this year to mark a record
thing to offer to buy something, usually high. Ministry of Finance trade statistics show
that bilateral trade in the first half of the year
in writing 2. an offer to sell something totalled $16.60 billion, up 29.7% from a year
or do a piece of work at a specific price earlier [Nikkei Weekly]
She made the lowest bid for the job.
bilateralism /balt()rlz()m/
verb to bid for something (at an auc- noun a system whereby a country bal-
tion) to offer to buy something he bid ances its trade with another With luck,
1,000 for the jewels he offered to pay bilateralism will put an end to the trade
1,000 for the jewels war.
bidder /bd/ noun a person who bill /bl/ noun 1. a written list of
makes a bid, usually at an auction charges to be paid The sales assistant
Several bidders made offers for the wrote out the bill. Does the bill in-
house. the property was sold to the clude VAT? The bill is made out to
highest bidder to the person who had Smith Ltd. The builder sent in his bill.
made the highest bid or who offered the She left the country without paying
most money the tender will go to the her bills. 2. a list of charges in a restau-
lowest bidder to the person who offers rant Can I have the bill please? The
the best terms or the lowest price for bill comes to 20 including service.
services Does the bill include service? The
bidding /bd/ noun the act of mak- waiter has added 10% to the bill for ser-
ing offers to buy, usually at an auction vice. 3. a written paper promising to pay
the bidding started at 1,000 the first money bills payable (B/P) bills, espe-
and lowest bid was 1,000 the bid- cially bills of exchange, which a com-
ding stopped at 250,000 the last bid, pany will have to pay to its creditors
i.e. the successful bid, was for 250,000 bills receivable (B/R) bills, especially
the auctioneer started the bidding bills of exchange, which are due to be
at 100 he suggested that the first bid paid by a companys debtors 4. US a
should be 100 piece of paper money a $5 bill (NOTE:
big box store /b" bks st/ noun British English is note or banknote) 5.
a large retail superstore that sells a very a draft of a new law which will be dis-
wide range of merchandise from grocer- cussed in Parliament 6. a small poster
ies to refrigerators or televisions stick no bills a notice prohibiting un-
authorised sticking of posters verb to
big business /b" bzns/ noun present a bill to someone so that it can
very large commercial firms be paid The plumbers billed us for the
big idea /b" ad/ noun the main repairs.
new idea behind an advertising cam- billboard /blbd/ noun 1. a poster
paign, the aim of which is to attract po- site of double crown size (30 x 20
tential customers inches) 2. US a large outdoor poster site
big picture /b" pkt/ noun a (measuring 12 x 25 feet) The railway
broad view of a subject that takes into track was lined with billboards specially
account all the factors that are relevant set up for election propaganda. A
to it and considers the future conse- shortage of billboards has led to an in-
quences of action taken now (informal ) . crease in press advertising. 3. a short
billing 24 blanket insurance

announcement which identifies an ad- black /blk/ adjective in the black

vertiser at the beginning, end, or in the in credit The company has moved into
breaks of a broadcast the black. My bank account is still in
billing /bl/ noun US the writing of the black. verb to forbid trading in
invoices or bills specific goods or with specific suppliers
Three firms were blacked by the gov-
bill of entry /bl v entri/ noun the ernment. The union has blacked a
written details of goods that have to go trucking firm.
through customs
black economy /blk knmi/
bill of exchange /bl v ks- noun goods and services which are paid
tend/ noun a document signed by for in cash, and therefore not declared
the person authorising it, which tells an- for tax
other to pay money unconditionally to a
named person on a certain date (usually black list /blk lst/ noun a list of
used in payments in foreign currency) goods, people or companies which have
to accept a bill to sign a bill of ex- been blacked
change to show that you promise to pay blacklist /blklst/ verb to put
it to discount a bill to buy or sell a goods, people or a company on a black
bill of exchange at a lower price than list Their firm was blacklisted by the
that written on it in order to cash it later government.
to retire a bill to pay a bill of ex- black market /blk mkt/ noun
change when it is due the buying and selling of goods or cur-
bill of lading /bl v led/ noun a rency in a way which is not allowed by
list of goods being shipped, which the law There is a flourishing black mar-
transporter gives to the person sending ket in spare parts for cars. to pay
the goods to show that the goods have black market prices to pay high prices
been loaded to get items which are not easily
bill of sale /bl v sel/ noun a docu- available
ment which the seller gives to the buyer black-market economy /blk
to show that the sale has taken place mkt knmi/ noun an economy,
bill poster /bl pst/ noun a per- or part of an economy, that functions by
son who sticks up small posters. fly illegally trading goods that are normally
poster subject to official controls
bin /bn/ noun 1. a large container 2. a blank cheque /blk tek/ noun a
separate section of shelves in a cheque with the amount of money and
warehouse the payee left blank, but signed by the
Bingo card /b" kd/ noun a
printed card bound into a magazine, blanket agreement /blkt
with a squared grid of numbers and let- "rimnt/ noun an agreement which
ters which a reader can mark. The num- covers many different items
bers refer to products advertised in the blanket branding /blkt
magazine, and the card is returned post brnd/ noun giving a whole group
free to the publisher, who passes the or line of products the same brand name
card to the advertiser for further Blanket branding will make the brand
response. a household name.
bipolar scale /bapl skel/ blanket coverage /blkt
noun a scale used in questionnaires k v()rd/ noun advertising to the
which contains two extreme points be- general public with no particular target
tween which an interviewee can choose audience in mind We will go for blan-
an answer ket coverage first and then see what
birth rate /b& ret/ noun the num- kind of people buy the product.
ber of children born per 1,000 of the blanket insurance (cover)
population /blkt nrns k v/ noun
blanket refusal 25 booking

insurance which covers various items sponse is to a situation Trainee sales-

such as a house and its contents men learn how to interpret a customers
blanket refusal /blkt r- body language. The interviewer of
fjuz()l/ noun a refusal to accept prospective marketing managers ob-
many different items served the body language of the candi-
dates very carefully. The candidate
bleed /blid/ noun an illustration or
claimed to be very confident about tak-
text which runs right to the edge of the
ing the job, but her body language was
printed page verb to allow advertising
saying the opposite.
space to run to the edge of a printed
page bogof /b"f/ noun the practice of
blind offer /bland f/ noun a pre- giving free gifts to customers, e.g. one
mium offer which is hidden away in an free item for each one bought. Full form
advertisement so as to find out how buy one get one free
many readers read the advertisement boilerplate /blplet/ noun a basic
blindside /blandsad/ verb to attack standard version of a contract that can
a competitor unexpectedly and in a way be used again and again
which it is difficult to respond to bonded warehouse /bndd
blind testing /bland test/ noun wehas/ noun a warehouse where
the practice of testing a product on con- goods are stored until excise duty has
sumers without telling them what brand been paid
it is bonus /bns/ noun an extra pay-
blister pack /blst pk/, bubble ment in addition to a normal payment
pack /b b()l pk/ noun a type of
packing where the item for sale is cov- bonus offer /bns f/ noun a
ered with a stiff plastic cover sealed to a special offer, especially one to launch a
card backing new product, which includes a bonus or
free gift
blitz /blts/ noun a marketing cam-
paign which starts at full pressure, as bonus pack /bns pk/ noun a
opposed to a gradual build-up pack with extra contents or extra items
blow-in /bl n/ noun US a post- for which no extra charge is made We
card-size advertising card inserted in a are offering bonus packs in order to at-
magazine tract new customers to the product.
blue-hair /blu he/ adjective US re- bonus size /bns saz/ noun an
ferring to elderly women extra large size of pack sold at the usual
price as a form of sales promotion Bo-
blue-sky thinking /blu ska nus size packs are 20% larger, but are
k/ noun extremely idealistic and sold at the normal price.
often unconventional ideas
blur /bl&/ noun a period in which a bonus spot /bns spt/ noun a
great many important changes take free television or radio spot offered to
place in an organisation very quickly an advertiser as part of an advertising
blurb /bl&b/ noun a brief description
of a book, printed in a publishers cata- book /bk/ noun a set of sheets of pa-
logue or on the cover of the book itself per attached together a companys
books the financial records of a
body copy /bdi kpi/ noun the company
main part of the text of an advertisement
The body copy is OK, though the com- book club /bk kl b/ noun a group
panys address neednt be included. of people who pay a small subscription
The body copy on the poster is too long and buy books regularly by mail order
for passers-by to read it all. booking /bk/ noun the act of re-
body language /bd l"wd/ serving a room or a seat etc. Hotel
noun gestures, expressions, and move- bookings have fallen since the end of the
ments which show what somebodys re- tourist season.
booking clerk 26 boutique

booking clerk /bk klk/ noun a market share and high growth rate are
person who sells tickets in a booking called stars, businesses with a low
office market share and low growth rate are
booking office /bk fs/ noun called dogs, businesses with a high
an office where you can book seats at a market share and a low growth rate
theatre or tickets for the railway are called cash cows and businesses
with a low market share and a high
bookmark /bkmk/ verb to make a growth rate are called question marks.)
special mental note of somebody or
something so that you remember them Boston matrix /bstn metrks/
in future noun a software tool in a noun a type of product portfolio analy-
web browser that enables users to select sis, in which products are identified as
and store webpages that they want to stars, question marks, cash cows or dogs
look at often and to access them quickly (NOTE: the full name is the Boston
and conveniently Consulting Group Share/Growth
book sales /bk selz/ plural noun
sales as recorded in the sales book bottle hanger /bt()l h/ noun
an advertisement in the form of a card
book token /bk tkn/ noun a
which hangs round the neck of a bottle
voucher bought in a shop which is given
as a present and which must be ex- bottleneck /bt()lnek/ noun a situ-
changed for books ation that occurs when one section of an
operation cannot cope with the amount
book value /bk vlju/ noun the
of work it has to do, which slows down
value of an asset as recorded in the com-
the later stages of the operation and
panys balance sheet
business activity in general a bottle-
boom /bum/ noun the time when neck in the supply system There are
sales, production or business activity are serious bottlenecks in the production
increasing a period of economic boom line.
the boom of the 1970s the boom
years years when there is an economic
bottom /btm/ noun the lowest part
or point the bottom has fallen out of
boom verb to expand or to become
the market sales have fallen below
prosperous business is booming
what previously seemed to be the lowest
sales are booming
starting in 1981, a full-blown real estate
point rock-bottom price the lowest
boom took off in Texas [Business] price of all verb to reach the lowest
boom industry /bum ndstri/
noun an industry which is expanding bottom line /btm lan/ noun the
rapidly last line on a balance sheet indicating
profit or loss
booming /bum/ adjective which
is expanding or becoming prosperous bottom price /btm pras/ noun
a booming industry or company Tech- the lowest price
nology is a booming sector of the bounce back /bans bk/ verb (of
economy. emails) to be returned to the sender be-
boom share /bum e/ noun a cause the address is incorrect or the user
share in a company which is expanding is not known at the mail server
Boston Box /bstn bks/ noun a bounce-back coupon /bans
system used to indicate a companys po- bk kupn/ noun a coupon offer
tential by analysing the relationship be- made to existing customers in order to
tween its market share and its growth persuade them to continue purchasing
rate (NOTE: The Boston Box was de- the brand
vised by the Boston Consulting Group boutique /butik/ noun 1. a small
in the 1970s to help companies decide specialised shop, especially for
which businesses they should invest in up-to-date clothes a jeans boutique
and which they should withdraw from. a ski boutique 2. a section of a depart-
In this system businesses with a high ment store selling up-to-date clothes
box 27 brand image

box /bks/ noun a cardboard, wooden or by a design the top-selling brands

or plastic container The goods were of toothpaste The company is launch-
sent in thin cardboard boxes. The ing a new brand of soap.
watches are prepacked in plastic dis- the multiple brought the price down to 2.49
play boxes. paperclips come in boxes in some stores. We had not agreed to this deal
and they sold out very rapidly. When they
of two hundred paperclips are packed reordered we would not give it to them. This
two hundred to a box kind of activity is bad for the brand and we
boxed /bkst/ adjective put or sold in cannot afford it [The Grocer]
a box you have to look much further down the
sales league to find a brand which has not been
boxed set /bkst set/ noun a set of around for what seems like ages [Marketing]
items sold together in a box major companies are supporting their best
box store /bks st/ noun a super- existing brands with increased investment
[Marketing Week]
market like a warehouse, with not much
service or promotion, where goods are brand awareness /brnd
sold from their original packing cases wens/ noun consciousness by the
The school bought stationery in large public of a brands existence and quali-
quantities from the box store. With ties How can you talk about brand
low overheads, box stores can offer awareness when most people dont even
cut-rate prices. know what the product is supposed to
do? Our sales staff must work harder
boycott /bkt/ noun a refusal to
to increase brand awareness in this
buy or to deal in certain products The
union organised a boycott against or of
imported cars. verb to refuse to buy brand building /brnd bld/,
or deal in a product We are boycotting brand development /brnd d-
all imports from that country. the velpmnt/ noun the expansion of the
management has boycotted the meet- total awareness and sales of a brand in a
ing has refused to attend the meeting given market
BRAD abbr British Rate and Data brand champion /brnd
tmpin/ noun an executive who is
brainstorming /brenstm/
passionate about a brand and promotes
noun an intensive discussion by a small it vigorously worldwide
group of people as a method of produc-
ing new ideas or solving problems brand development index
/brnd dvelpmnt ndeks/ noun
brainstorming session /bren- an index that compares the percentage
stm se()n/ noun a meeting to of a brands total sales in a given market
thrash out problems, where everyone to the percentage of the total population
puts forward different ideas in the market. Abbr BDI
branch /brnt/ noun the local office branded goods /brndd "dz/
of a bank or large business, or a local plural noun goods sold under brand
shop which is part of a large chain names
branch manager /brnt brand equity /brnd ekwti/ noun
mnd/ noun a person in charge of a the extra value brought to a product by
branch of a company being a brand, both value as seen by the
a leading manufacturer of business, customer as well as financial value to
industrial and commercial products requires a
branch manager to head up its mid-western the company
Canada operations based in Winnipeg brand extension strategy /brnd
[Globe and Mail (Toronto)] kstenn strtdi/ noun the apply-
branch out /brnt at/ verb to ing of an existing brand name to a new
start a new but usually related type of product
business From car retailing, the com- brand image /brnd md/ noun
pany branched out into car leasing. an opinion of a product which people
brand /brnd/ noun a make of prod- associate in their minds with the brand
uct, which can be recognised by a name name
branding 28 breakeven point

branding /brnd/ noun the act of branding as the only way to promote a
giving brand names to products product
marketing and branding are becoming more brandwidth /brndwd/ noun the
important in the hotel and restaurant business.
There is increasing competition in hotels and amount of customer recognition which a
reviews of brand image are commonplace brand enjoys
[Marketing Week] brand X /brnd eks/ noun the anon-
brand leader /brnd lid/ noun the ymous brand used in TV commercials to
brand with the largest market share compare with the named brand being
brand life cycle /brnd laf
sak()l/ noun stages in the life of a breach /brit/ noun a failure to carry
brand in terms of sales and profitability, out the terms of an agreement
from its launch to its decline breach of contract /brit v
brand loyalty /brnd llti/ noun kntrkt/ noun the failure to do some-
the feeling of trust and satisfaction that thing which has been agreed in a
makes a customer always buy the same contract
brand of product bread-and-butter line /bred n
brand management /brnd b t lanz/ noun a range of items
mndmnt/ noun directing the mak- which are found in all stores of one cate-
ing and selling of a brand as an inde- gory, and which provide a solid basis of
pendent item continuing sales
brand manager /brnd mnd/ break /brek/ noun a pause between
noun the manager or executive respon- periods of work She keyboarded for
sible for the marketing of a particular two hours without a break. verb
brand The brand manager and the (NOTE: breaking- broke- has broken)
production manager met to discuss break bulk to split into small quanti-
changes to be made to the companys ties for retail sale after having bought a
leading brand of soap. large quantity break even to balance
costs and receipts, but not make a profit
brand name /brnd nem/ noun a Last year the company only just broke
name of a particular make of product even. We broke even in our first two
brand positioning /brnd p- months of trading.
z()n/ noun the practice of placing breakeven analysis /brekiv()n
a brand in a particular position in the nlss/ noun 1. the analysis of fixed
market, so that it is recognisable to the and variable costs and sales that deter-
public Intensive television advertising mines at what level of production the
is a key part of our brand positioning breakeven point will be reached The
strategy. (NOTE: also called product breakeven analysis showed that the
positioning) company will only break even if it sells
brand recognition /brnd rek"- at least 1,000 bicycles a month. 2. a
n()n/ noun the ability of the con- method of showing the point at which a
sumer to recognise a brand on sight companys income from sales will be
equal to its production costs so that it
brand switching /brnd swt/ neither makes a profit nor makes a loss
noun the practice of changing from buy- (NOTE: Breakeven analysis is usually
ing one brand to another, showing little shown in the form of a chart and can
brand loyalty We cant rely on steady be used to help companies make deci-
sales with such a lot of brand switching sions, set prices for their products and
going on. Brand switching makes work out the effects of changes in pro-
shopping more fun for consumers. duction or sales volume on their costs
brand value /brnd vlju/ noun and profits.)
the value of a brand name breakeven point /brekiv()n
brand wagon /brnd w"n/ pnt/ noun a point at which sales cover
noun the tendency for marketers to see costs, but do not show a profit
breaking bulk 29 bucket shop

breaking bulk /brek b lk/ noun broadcasting media /-

the practice of buying in bulk and then brdkst midi/plural noun me-
selling in small quantities to many dia such as radio or TV
customers broadsheet /brdit/ noun a large
break up /brek  p/ verb to split size of newspaper page (as opposed to
something large into small sections tabloid). Compare tabloid
The company was broken up and sepa- broadside /brdsad/ noun US a
rate divisions sold off. large format publicity leaflet
break-up value /brek p vlju/ brochure /br/ noun a publicity
noun 1. the value of the material of a booklet We sent off for a brochure
fixed asset What would the break-up about holidays in Greece or about
value of our old machinery be? Scrap postal services.
merchants were asked to estimate the brochureware /brwe/ noun a
tractors break-up value. 2. the value of website that provides information about
various parts of a company taken products and services in the same way
separately as a printed brochure (NOTE: The word
bricks-and-mortar /brks n is often used negatively to refer to
mt/ adjective conducting business electronic advertising for planned but
in the traditional way in buildings such nonexistent products.)
as shops and warehouses and not being broken lot /brkn lt/ noun an
involved in e-commerce. Compare incomplete set of goods for sale Well
clicks-and-mortar give you a discount since it is a broken
bridge /brd/ verb to print an ad- lot, with two items missing.
vertisement across the centre of a broker /brk/ noun 1. a dealer who
double-page spread in a magazine acts as a middleman between a buyer
brief /brif/ verb to explain something and a seller 2. (stock)broker a person
to someone in detail The sales staff or firm that buys and sells shares or
were briefed on the new product. The bonds on behalf of clients
managing director briefed the board on brokerage /brkrd/, brokers
the progress of the negotiations. commission /brkz km()n/
briefing /brif/ noun telling some- noun payment to a broker for a deal car-
one details All sales staff have to at- ried out
tend a sales briefing on the new product. brown goods /bran "dz/ plural
British Rate and Data /brt ret noun electrical equipment for home en-
n det/ a regular publication which tertainment, e.g. television sets, hi-fi
lists British newspapers and magazines, equipment. Compare white goods
giving all relevant information about browser /braz/ noun a piece of
their circulation, rates, frequency and software that enables computer users to
other advertising services offered You have access to the Internet and World
should consult BRAD first to find the Wide Web
most suitable newspaper to carry our bubble card /b b()l kd/, bubble
advertising. Abbr BRAD (NOTE: the pack /b b()l pk/ noun a type of
comparable American publication is packaging, where the item for sale is
Standard Rate and Data Service) covered by a stiff plastic sheet sealed to
broadband /brdbnd/ noun a data a card backing
transmission system that allows large bubble wrap /b b()l rp/ noun a
amounts of data to be transferred very sheet of clear plastic with bubbles of air
quickly in it, used as a protective wrapping
broadcast /brdkst/ noun a radio material
or TV programme verb to send out on bucket shop /b kt p/ noun 1.
radio or TV an firm of brokers or dealers that sells
shares that may be worthless 2. a firm
budget 30 bulky

that sells cheap airline or other travel budget surplus /b dt s&pls/
tickets noun a situation where there is more
at last something is being done about the revenue than was planned for in the
thousands of bucket shops across the nation that budget
sell investment scams by phone
[Forbes Magazine] budget variance /b dt
verins/ noun the difference between
budget /b dt/ noun 1. a plan of ex- the cost as estimated for a budget and
pected spending and income for a period the actual cost
of time We have agreed the budgets
building materials /bld
for next year. 2. the Budget the an-
mtrilz/ plural noun materials used
nual plan of taxes and government
in building, e.g. bricks and cement
spending proposed by a finance minis-
ter. In the UK, this is the Chancellor of building permit /bld p&mt/
the Exchequer. The minister put for- noun an official document which allows
ward a budget aimed at boosting the someone to build on a piece of land
economy. to balance the budget to build-up approach /bld p
plan income and expenditure so that prt/ noun a method of calculating
they balance The president is plan- the budget for promotion by determin-
ning for a balanced budget. 3. (in ing the tasks that have to be carried out
shops) cheap budget prices low and estimating the costs of performing
prices verb to plan probable income them
and expenditure We are budgeting for
10,000 of sales next year. built-in /blt n/ adjective forming
part of the system or of a machine The
he budgeted for further growth of 150,000
jobs (or 2.5 per cent) in the current financial PC has a built-in modem. The ac-
year [Sydney Morning Herald] counting system has a series of built-in
the Federal governments budget targets for
employment and growth are within reach built-in obsolescence /blt n
according to the latest figures bsles()ns/ noun a method of ensur-
[Australian Financial Review]
ing continuing sales of a product by
budget account /b dt kant/ making it in such a way that it will soon
noun a bank account where you plan in- become obsolete
come and expenditure to allow for peri- bulk /b lk/ noun a large quantity of
ods when expenditure is high, by paying goods in bulk in large quantities to
a set amount each month buy rice in bulk
budgetary /b dt()r/ adjective bulk buying /b lk ba/ noun get-
referring to a budget ting large quantities of goods at low
budgetary control /b dt()ri prices
kntrl/ noun controlled spending ac- bulk carrier /b lk kri/ noun a
cording to a planned budget ship which carries large quantities of
budgetary policy /b dt()ri loose goods such as corn or coal
plsi/ noun the policy of planning in- bulk discount /b lk dskant/
come and expenditure noun a discount given to a purchaser
budgetary requirements who buys in bulk
/b dt()ri rkwamnts/ plural bulk rate /b lk ret/ noun a cheap
noun the rate of spending or income re- rate offered to advertisers who take
quired to meet the budget forecasts large amounts of advertising space
budget department /b dt d- bulk shipment /b lk pmnt/
ptmnt/ noun a department in a noun a shipment of large quantities of
large store which sells cheaper goods goods
budgeting /b dt/ noun the prep- bulky /b lki/ adjective large and awk-
aration of budgets to help plan expendi- ward The Post Office does not accept
ture and income bulky packages.
bulldog 31 business efficiency exhibition

bulldog /bld"/ noun the first edi- business address /bzns dres/
tion of a daily newspaper noun the details of number, street and
bulletin /bltn/ noun a short note, town where a company is located
newsletter or report, issued regularly business agent /bzns ednt/
Bulletins were regularly sent to the noun US the chief local official of a
sales force. The bulletin contained trade union
sales figures for the month. business call /bzns kl/ noun a
bulletin board /bltn bd/, no- visit to talk to someone about business
tice board noun a website that allows business card /bzns kd/ noun a
members of an interest group to ex- card showing a businesspersons name
change emails, chat online, and access and the name and address of the com-
software pany they work for
bumper sticker /b mp stk/ business case /bzns kes/ noun a
noun an advertising sticker put onto the statement that explains why a particular
bumper of a car course of action would be advantageous
bundle /b nd()l/ verb to market a or profitable to an organisation (NOTE: A
package that contains various products business case depends on the prepa-
or services at a special price ration and presentation of a viable
business plan and is intended to weed
bundling /b ndl/ noun putting out ideas that may seem promising but
several items together to form a package have no real long-term value to an or-
deal, especially offering software as part ganisation.)
of the purchase of computer hardware business centre /bzns sent/
buppies /b piz/ plural noun young noun the part of a town where the main
professional people with relatively high banks, shops and offices are located
incomes (NOTE: Short for Black Up- business class /bzns kls/ noun
wardly-Mobile Professionals) a type of airline travel which is less ex-
burst /b&st/ noun a large number of pensive than first class and more com-
advertisements for a product placed fortable than economy class
over a short period Shall we go for a business community /bzns k-
burst or for a more prolonged mjunti/ noun the business people liv-
campaign? ing and working in the area
business /bzns/ noun 1. work in business computer /bzns km-
buying or selling business is expand- pjut/ noun a powerful small com-
ing We do a lot of business with Ja- puter programmed for special business
pan. Business is slow. Repairing uses
cars is 90% of our business. We did business correspondence
more business in the week before /bzns krspndns/ noun letters
Christmas than we usually do in a concerned with a business
month. Strikes are very bad for busi-
ness. Whats your line of business? business correspondent /bzns
to be in business to run a commercial krspndnt/ noun a journalist who
firm on business doing commercial writes articles on business news for
work He had to go abroad on busi- newspapers
ness. The chairman is in Holland on business cycle /bzns sak()l/
business. 2. a commercial company noun the period during which trade ex-
He owns a small car repair business. pands, slows down and then expands
She runs a business from her home. again
He set up in business as an insurance business efficiency exhibition
broker. 3. affairs discussed The main /bzns f()nsi eksb()n/ noun
business of the meeting was finished by an exhibition which shows products
3 p.m. such as computers and word-processors
which help businesses to be efficient
business environment 32 buy classes

business environment /bzns n- ten used when trying to raise a loan, or

varnmnt/ noun the elements or fac- when setting up a new business
tors outside a business organisation business portfolio analysis
which directly affect it, such as the sup- /bzns ptfli nlss/ noun
ply of raw materials and product de- a method of categorising a firms prod-
mand The unreliability of supplies is ucts according to their relative competi-
one of the worst features of our business tive position and business growth rate in
environment. order to lay the foundations for sound
business equipment /bzns strategic planning
kwpmnt/ noun the machines used business publication /bzns
in an office p blke()n/ noun a magazine or
business expenses /bzns k- newspaper which is only concerned
spensz/ plural noun money spent on with business matters, e.g. trade journals
running a business, not on stock or business-to-business /bzns t
assets bzns/ noun full form of B2B
business game /bzns "em/ noun business-to-business advertis-
a game, often run on a computer, in ing /bzns t bzns dvtaz/
which individuals or teams compete to noun advertising aimed at businesses,
do business in an imaginary market not at households or private purchasers
Students on management courses are of-
ten asked to take part in business games
business-to-consumer /bzns t
knsjum/ noun full form of B2C
to improve their decision-making skills.
business transaction /bzns
business gift /bzns "ft/ noun a trnzkn/ noun an act of buying or
present received by a customer, either selling
attached to a product bought or given to
him by the retailer or producer on proof business unit /bzns junt/ noun
of purchase of a minimum quantity of a unit within an organisation that oper-
goods ates as a separate department, division
or stand-alone business and is usually
business hours /bzns az/ plu- treated as a separate profit centre
ral noun the time when a business is
open, usually 9.00 a.m. to 5.30 p.m. busy season /bzi siz()n/ noun
the period when a company is busy
business intelligence /bzns n-
teld()ns/ noun information that buy /ba/ verb to get something by pay-
may be useful to a business when it is ing money to buy wholesale and sell
planning its strategy retail to buy for cash He bought
10,000 shares. The company has been
business letter /bzns let/ noun bought by its leading supplier. (NOTE:
a letter which deals with business buying- bought) buy one get one
matters free giving free gifts to customers such
business mailing list /bzns as one free item for each one bought.
mel lst/ noun a list of names and Abbr bogof
addresses of businesses buy back /ba bk/ verb to buy
businessman /bznsmn/, busi- something which you sold earlier She
nesswoman /bznswmn/ noun a sold the shop last year and is now trying
man or woman engaged in business to buy it back.
business park /bzns pk/ noun a buy-back agreement /ba bk
group of small factories or warehouses, "rimnt/ noun an agreement that a
especially near a town He has rented producer will buy back goods from a
a unit in the local business park. distributor on a specific date if the dis-
business plan /bzns pln/ noun tributor has not been able to sell them
a document drawn up to show how a buy classes /ba klsz/ plural
business is planned to work, with cash noun categories of buying based on how
flow forecasts, sales forecasts, etc., of- much the purchasing decisions of an or-
buyer 33 by-line

ganisation have changed from the time peting products, especially when pur-
of the previous purchase chasing industrial supplies
buyer /ba/ noun 1. a person who buy in /ba n/ verb (of a seller at an
buys there were no buyers no one auction) to buy the thing which you are
wanted to buy 2. a person who buys trying to sell because no one will pay
stock on behalf of a trading organisation the price you want
for resale or for use in production 3. in buying /ba/ noun the act of getting
B2B selling, a person who has made a something for money
commitment to buy, but has not final- buying agent /ba ednt/ noun
ised the deal a person who buys for a business or an-
other person, and earns a commission
buyer expectation /ba ekspek-
Our buying agent is presently looking
te()n/ noun same as customer for materials in Portugal. The buying
expectation agent knows a whole network of suppli-
buyers guide /baz "ad/ noun a ers round the country.
book or pamphlet which gives advice to buying department /ba d-
purchasers on the prices, availability ptmnt/ noun the department in a
and reliability of products or services company which buys raw materials or
buyers market /baz mkt/ goods for use in the company
noun a market where products are sold buying habits /ba hbts/
cheaply because there are few people plural noun the general way in which
who want to buy them (NOTE: the oppo- some people select and buy goods
site is a sellers market) buying power /ba pa/ noun
buyers risk /baz rsk/ noun the the ability to buy The buying power of
risk taken by a buyer when accepting the pound has fallen over the last five
goods or services without a guarantee years.
buyers surplus /baz s&pls/ buying service /ba s&vs/ noun
an agency which buys advertising space
noun an extra margin generated when
or time for its clients
an item is bought at a higher discount
than usual When the brand manager buy phases /ba fezz/ plural noun
realised how great the buyers surplus phases in the buying of industrial prod-
was, she decided to lower the price of ucts. The main phases are the recogni-
tion of a want, the identification of a
the product.
product, comparison with other compet-
buy forward /ba fwd/ verb to ing products on the market, evaluation
buy foreign currency before you need it, of possible courses of action and final
in order to be sure of the exchange rate decision-making.
buy grid /ba "rd/ noun a method by-line /ba lan/ noun the journal-
used for objective assessment of com- ists name which appears before a news-
paper report
C2C commerce 34 cancellation clause

C2C commerce /si t si km&s/ call divert noun a telephone facility in
same as consumer-to-consumer which calls are automatically switched
commerce from one number to another
CA abbr Consumers Association call frequency /kl frikwnsi/
noun the number of times a salesperson
cabinet /kbnt/ noun a display visits a specific customer during a pe-
case for goods for sale, especially frozen riod of time
call in /kl n/ verb 1. to visit
cable television /keb()l tel- Their sales representative called in
v()n/, cable TV /keb()l tivi/ twice last week. 2. to telephone to make
noun a television service which a contact We ask the reps to call in ev-
viewer receives via a cable from a par- ery Friday to report the weeks sales.
ticular station and pays for on calling line identification /kl
subscription lan adentfke()n/ noun com-
caging /ked/ noun the handling puter telephony integration
of cash and cheques in a direct-mail call letters /kl letz/ plural noun
operation US a series of letters used to identify a
call /kl/ noun a visit The sales reps radio station
make six calls a day. verb to call on call rate /kl ret/ noun the number
someone to visit someone Our sales of calls per day or per week which a
people call on their best accounts twice salesperson makes on customers
a month. call report /kl rpt/ noun a re-
call bird /kl b&d/ noun a port made by a salesperson after a visit
low-priced product advertised to attract to a customer In his call report, the
customers to the point-of-sale where sales rep explained why he was experi-
they can then be sold more profitable encing sales resistance. The call re-
goods We need a call bird to bring ports have to be handed in each week to
round more customers. the sales manager.
call centre /kl sent/ noun a de- call to action /kl t k()n/
partment or business that operates a noun a prompt which encourages a po-
large number of telephones and special- tential Internet purchaser to do some-
ises in making calls to sell products or in thing such as click to see a range of
receiving calls from customers to colours
helplines or information or after-sales camp /kmp/ verb to camp on the
services (NOTE: A call centre often acts line to have to wait on hold for a long
as the central point of contact between time until someone answers your tele-
an organisation and its customers.) phone call
call cycle /kl sak()l/ noun the campaign /kmpen/ noun a series
time between a salespersons visits to of co-ordinated activities to reach an
the same customer Because we now objective
have more customers to deal with, call cancellation clause /kns-
cycles are getting longer. le()n klz/ noun a clause in a con-
cancellation date 35 capitalist

tract which states the terms on which the issued and fully paid capital is $100 million,
contract may be cancelled comprising 2340 shares of $100 each and
997,660 ordinary shares of $100 each
cancellation date /knsle()n [Hongkong Standard]
det/ noun the final date by which an capital account /kpt()l
advertisement must be cancelled if the kant/ noun an account of dealings
advertiser does not wish to proceed such as money invested in or taken out
canned presentation /knd of the company by the owners of a
prez()nte()n/ noun a standard company
sales presentation which some salespeo- capital allowances /kpt()l
ple use all the time When trainee sales lansz/ plural noun the allowances
reps are not sure how to approach cus- based on the value of fixed assets which
tomers they fall back on canned presen- may be deducted from a companys
tations. The sales manager feels that profits and so reduce its tax liability
the artificiality of canned presentations COMMENT: Under current UK law, depre-
makes them ineffective. ciation is not allowable for tax on profits,
cannibalisation /knbla- whereas capital allowances, based on the
ze()n/, cannibalization, cannibal- value of fixed assets owned by the com-
ism /knblz()m/ noun a situation pany, are tax-allowable.
where a company launches a new prod- capital assets /kpt()l sets/
uct which sells well at the expense of plural noun the property, machines, etc.,
another established product Though which a company owns and uses but
the new product sold well, the resultant which the company does not buy and
cannibalisation damaged the companys sell as part of its regular trade
overall profits for the year. Cannibal- capital city /kpt()l sti/ noun
ism became a real problem because the the main city in a country, where the
new product made the existing line seem government is located
capital gain /kpt()l "en/ noun
canvass /knvs/ verb to visit peo- an amount of money made by selling a
ple to ask them to buy goods, to vote or fixed asset
to say what they think Hes canvass-
ing for customers for his hairdressers capital gains tax /kpt()l "enz
shop. Weve canvassed the staff about tks/ noun a tax paid on capital gains.
raising the prices in the staff restaurant. Abbr CGT
capital goods /kpt()l "dz/ plu-
canvasser /knvs/ noun a person ral noun machinery, buildings and raw
who canvasses
materials which are used to make other
canvassing /knvs/ noun the goods
practice of asking people to buy, to vote, capital-intensive industry
or to say what they think door-to-door /kpt()l ntensv ndstri/ noun
canvassing canvassing techniques an industry which needs a large amount
capital /kpt()l/ noun 1. the of capital investment in plant to make it
money, property and assets used in a work
business a company with 10,000 capitalise on /kpt()laz n/ verb
capital or with a capital of 10,000 to make a profit from We are seeking
capital structure of a company the to capitalize on our market position.
way in which a companys capital is
made up from various sources 2. money capitalism /kpt()lz()m/ noun
owned by individuals or companies, the economic system in which each per-
used for investment movements of son has the right to invest money, to
capital changes of investments from work in business, and to buy and sell,
one country to another flight of capi- with no restriction from the state
tal the rapid movement of capital out of capitalist /kpt()lst/ adjective
one country because of lack of confi- working according to the principles of
dence in that countrys economic future capitalism the capitalist system the
capitalist economy 36 cargo

capitalist countries or world noun a sell unwanted items from the back of
person who invests capital in business their cars
car card /k kd/ noun an adver-
capitalist economy /kpt()lst tisement display card which is placed in
knmi/ noun a system where each a vehicle such as a bus, taxi or train
person has the right to invest money, to card /kd/ noun 1. a small piece of
work in business, and to buy and sell, cardboard or plastic, usually with infor-
with no restrictions from the state mation printed on it He showed his
capital levy /kpt()l levi/ noun a staff card to get a discount in the store.
tax on the value of a persons property 2. a printed piece of cardboard with in-
and possessions formation on it
capital loss /kpt()l ls/ noun a ever since October, when the banks base
rate climbed to 15 per cent, the main credit card
loss made by selling assets (NOTE: The issuers have faced the prospect of having to
opposite is capital gain.) push interest rates above 30 per cent APR.
Though store cards have charged interest at
capital transfer tax /kpt()l much higher rates than this for some years, 30
trnsf& tks/ noun formerly, a tax per cent APR is something the banks fight shy
on gifts or bequests of money or of [Financial Times Review]
property card deck /kd dek/ noun a series
captain /kptn/ noun same as of small cards, advertising different
channel captain products or services, which are mailed
caption /kpn/ noun a short de- as a pack in a plastic envelope to pro-
scription at the bottom of an illustration spective customers
or photograph Having no caption at cardholder /kdhld/ noun an
the bottom of the illustration created individual or company that has an ac-
more reader interest in the product. It count with a credit card company and
took the copywriter days to think of a whose name usually appears on the card
suitable caption for the photograph. card-issuing bank /kd sju
captive audience /kptv bk/ noun same as issuer
dins/ noun the people who cannot card-not-present merchant ac-
avoid being exposed to an advertise- count /kd nt prez()nt m&tnt
ment Advertisers like to have their kant/ noun an account that enables
posters in underground stations where businesses operating on the web to re-
there is a large captive audience. ceive payments by credit card without
captive market /kptv mkt/ the buyer or card being physically pres-
noun a market where one supplier has a ent when the transaction is made
monopoly and the buyer has no choice card rate /kd ret/ noun an adver-
over the product which they must tising charge which is based on the
purchase charges listed in a rate card, i.e. without
capture /kpt/ verb to take or get any discounts. escalator card,
control of something to capture 10% showcard
of the market to sell hard, and so take a careline /kelan/ noun a telephone
10% market share to capture 20% of number which links people to services
a companys shares to buy shares in a which can help them such as social ser-
company rapidly and so own 20% of it vices departments, hospitals, or a simi-
car assembly plant /kr sembli lar service offered by shops to their
plnt/ noun a factory where cars are customers
put together from parts made in other cargo /k"/ noun a load of goods
factories which are sent in a ship or plane, etc.
car boot sale /k bt sel/ noun a the ship was taking on cargo it was be-
type of jumble sale, organised in a large ing loaded with goods to load cargo
car park or sports field, where people to put cargo on a ship
cargo liner 37 cash and carry

cargo liner /k" lan/ noun a ter it has happened The carry-over ef-
cargo ship with a regular schedule If fect of the currency devaluation was a
the cargo liners schedule doesnt suit good few years of lucrative exporting.
us, well have to charter a ship. The The political unrest in our key export
cargo liner makes regular trips between markets had disastrous carry-over ef-
Southampton and Lisbon. fects on our international marketing.
cargo ship /k" p/ noun a ship cart /kt/ noun a flat open goods vehi-
which carries cargo, not passengers cle pulled by a horse
car mart /k mt/ noun US a sec- cartage /ktd/ noun carrying
ondhand car salesroom goods by road
carnet /kne/ noun an international cartel /ktel/ noun a group of com-
document which allows dutiable goods panies which try to fix the price or to
to cross several European countries by regulate the supply of a product so that
road without paying duty until the goods they can make more profit
reach their final destination carter /kt/ noun a person who
carriage /krd/ noun 1. the trans- transports goods by road
porting of goods from one place to an- carton /kt()n/ noun a box made of
other to pay for carriage 2. the cost of cardboard a carton of milk
transport of goods to allow 10% for case /kes/ noun a cardboard or
carriage Carriage is 15% of the total wooden box for packing and carrying
cost. carriage free a deal where the goods six cases of wine six boxes,
customer does not pay for the shipping each containing twelve bottles
carriage paid a deal where the seller
has paid for the shipping carriage case study /kes st d/ noun a true
prepaid a note showing that the trans- or invented business situation used in
port costs have been paid in advance business training to practise deci-
sion-making The marketing case
carrier /kri/ noun 1. a company study consisted of a long history of the
which transports goods We only use company, the present situation and a
reputable carriers. 2. a vehicle or ship choice of strategic plans. The case
which transports goods study was about territory-planning in a
carrier bag /kri b"/ noun a city in which there were a number of ac-
shopping bag made of strong paper counts of varying importance.
carriers risk /kriz rsk/ noun cash /k/ noun 1. money in coins or
the responsibility of a carrier to pay for notes 2. using money in coins or notes
damage or loss of goods being shipped to pay cash down to pay in cash imme-
carry /kri/ verb 1. to take from one diately verb to cash a cheque to ex-
place to another a tanker carrying oil change a cheque for cash
from the Gulf The truck was carrying cashable /kb()l/ adjective
goods to the supermarket. The train which can be cashed A crossed
was carrying a consignment of cars for cheque is not cashable at any bank.
export. 2. to keep in stock to carry a cash account /k kant/ noun
line of goods We do not carry pens. an account which records the money
(NOTE: carries- carrying- carried) which is received and spent
carrying /kri/ noun transporting cash advance /k dvns/ noun
from one place to another carrying a loan in cash against a future payment
charges carrying cost cash against documents /k
carry over /kri v/ verb to "enst dkjmnts/ noun a system
carry over a balance to take a balance whereby a buyer receives documents for
from the end of one page or period to the goods on payment of a bill of
the beginning of the next exchange
carry-over effect /kri vr cash and carry /k n kri/
fekt/ noun the effect of something af- noun a large store selling goods at low
cashback 38 catalogue

prices, where the customer pays cash cash flow forecast /k fl
and takes the goods away immediately fkst/ noun a forecast of when cash
We get our supplies every morning will be received or paid out
from the cash and carry. cash flow statement /k fl
the small independent retailer who stocks up stetmnt/ noun a report which shows
using cash and carries could be hit hard by the cash sales and purchases
loss of footfall associated with any increase in
smuggled goods [The Grocer] cashier /k/ noun 1. a person who
takes money from customers in a shop
cashback /kbk/ noun a discount or who deals with the money that has
system where a purchaser receives a been paid 2. a person who deals with
cash discount on the completion of the customers in a bank and takes or gives
purchase cash at the counter
cash balance /k blns/ noun a cash in hand /k n hnd/ noun
balance in cash, as opposed to amounts money and notes, kept to pay small
owed amounts but not deposited in the bank
cash book /k bk/ noun a book cash items /k atmz/ plural
which records cash received and paid noun goods sold for cash
out cash offer /k f/ noun an offer
cash budget /k b dt/ noun a to pay in cash, especially an offer to pay
plan of cash income and expenditure cash when buying shares in a takeover
cash card /k kd/ noun a plastic bid
card used to obtain money from a cash cash on delivery /k n d-
dispenser lv()ri/ noun payment in cash when
cash cow /k ka/ noun a product goods are delivered. Abbr COD
or subsidiary company that consistently cash payment /k pemnt/
generates good profits but does not pro- noun payment in cash
vide growth cash purchase /k p&ts/ noun
cash deal /k dil/ noun a sale done a purchase made in cash
for cash cash register /k redst/ noun
cash desk /k desk/ noun the a machine which shows and adds the
place in a store where you pay for the prices of items bought, with a drawer for
goods bought keeping the cash received
cash discount /k dskant/ cash sale /k sel/ noun a transac-
tion paid for in cash
noun a discount given for payment in
cash cash terms /k t&mz/ plural noun
lower terms which apply if the customer
cash dispenser /k dspens/ pays cash
noun a machine which gives out money
when a special card is inserted and in- cash till /k tl/ noun same as cash
structions given register
cash float /k flt/ noun cash put cash transaction /k trn-
into the cash box at the beginning of the zkn/ noun a transaction paid for in
day or week to allow change to be given cash
to customers cash up /k  p/ verb to add up the
cash in a shop at the end of the day
cash flow /k fl/ noun cash
which comes into a company from sales cash voucher /k vat/ noun a
(cash inflow) or the money which goes piece of paper which can be exchanged
out in purchases or overhead expendi- for cash With every 20 of purchases,
ture (cash outflow) the company is the customer gets a cash voucher to the
suffering from cash flow problems value of 2.
cash income is not coming in fast catalogue /kt()l"/ noun a publi-
enough to pay the expenditure going out cation which lists items for sale, usually
catalogue house 39 centralised system

showing their prices an office equip- buys is in good order. same as let the
ment catalogue They sent us a cata- buyer beware
logue of their new range of products. the idea that buyers at a car boot sale should
(NOTE: American English is usually have any rights at all is laughable. Even those
who do not understand Latin know that caveat
catalog) verb to put an item into a emptor is the rule [Times]
catalogue (NOTE: American English is
usually catalog) CCTV abbr closed circuit television
catalogue house /kt()l" has/ Ceefax /sifks/ noun teletext ser-
noun a company which mainly or solely vices broadcast by the BBC
sells by catalogue ceiling /sil/ noun the highest point
catalogue price /kt()l" pras/ that something can reach, e.g. the high-
noun a price as marked in a catalogue or est rate of interest or the largest amount
list of money which a depositor may deposit
to fix a ceiling for a budget There is
catalogue store /kt()l" st/, a ceiling of $100,000 on deposits.
catalogue showroom /kt()l" Output reached its ceiling in June and
rum/ noun a shop where custom- has since fallen back.
ers can examine a catalogue and choose
goods from it census /senss/ noun an official
count of a countrys population, includ-
catchment area /ktmnt eri/ ing such data as the age, sex, and occu-
noun the area around a shop or shopping pation of individuals The market
centre, where the customers live research department made a careful
catchpenny /ktpeni/ noun an ar- study of the census in different areas of
ticle which has only superficial appeal, the country to see where demand would
but which attracts buyers A closer be highest. distribution census
look at the doll showed it to be just a central /sentrl/ adjective organised
shoddily made catchpenny. by one main point
category extension /kt"()ri central bankers in Europe and Japan are
kstenn/ noun the applying of an ex- reassessing their intervention policy
[Duns Business Month]
isting brand name to a new product
category centralise /sentrlaz/, centralize
category management verb to organise from a central point
/kt"()ri mndmnt/ noun a All purchasing has been centralised in
system where managers have responsi- our main office. The group benefits
bility for the marketing of a particular from a highly centralised organisational
category or line of products structure. The company has become
very centralised, and far more staff
caterer /ketr/ noun a person or work at headquarters.
company that supplies food and drink,
especially for parties centralised distribution
/sentrlazd dstrbju()n/ noun a
cater for /ket f/ verb to deal with system of distribution of goods to retail
or provide for The store caters mainly stores in a chain, from a central or local
for overseas customers. warehouse, so avoiding direct distribu-
catering /ketr/ noun supplying tion from the manufacturer, and making
food and drink for a party etc. adjec- stock control easier
tive catering for which provides for centralised organisational
a store catering for overseas visitors structure /sentrlazd "na-
catering trade /ketr tred/ ze()n()l str kt/ noun a method
noun the food trade, especially busi- of organising international advertising
nesses supplying food that is ready to and promotion where all decisions are
eat made in a companys central office
caveat emptor /kvit empt/ centralised system /sentrlazd
phrase meaning that the buyer is respon- sstm/ noun a system where advertis-
sible for checking that what he or she ing and other marketing activities are
central office 40 channel strip

run from one central marketing challenger /tlnd/ noun a com-

department pany which challenges other companies
central office /sentrl fs/ noun which are already established in the
the main office which controls all marketplace
smaller offices channel /tnl/ noun a means by
Central Office of Information which information or goods pass from
/sentrl fs v nfme()n/ a one place to another to go through
British government organisation which the official channels to deal with gov-
provides a publicity service and advice ernment officials, especially when mak-
on international trade for British compa- ing a request to open up new
nies wishing to export. Abbr COI channels of communication to find
new ways of communicating with some-
central purchasing /sentrl one channels of influence the ways in
p&ts/ noun purchasing organised which a company can influence con-
by a central office for all branches of a sumers to buy their products, i.e. per-
company sonal influence channels such as
centre spread /sent spred/ noun salesmen, or non-personal channels
two facing pages in the centre of a such as press advertising Owing to
newspaper or magazine used by an ad- lack of capital there were not many
vertiser for one advertisement The channels of influence open to the com-
whole centre spread for three days cost pany. It was decided that personal
the advertiser 150,000. The centre selling was the most effective channel of
spread was taken up with a large adver- influence for such a specialised product.
tisement for a new model of car. channel captain /tn()l
certificate of approval /stfkt kptn/ noun a business which con-
v pruv()l/ noun a document show- trols or has the most influence in a dis-
ing that an item has been approved tribution channel The production
officially company became a channel captain by
certificate of origin /stfkt v acquiring a number of important retail
rdn/ noun a document showing outlets. Only businesses with enough
where imported goods come from or financial resources to acquire other
were made companies can become channel
certified public accountant
/s&tfad p blk kantnt/ noun
channel communications
/tn()l kmjunke()z/ plural
US an accountant who has passed pro-
noun communications to a marketing
fessional examinations
channel such as the companys sales
CGT abbr capital gains tax force or to selected retailers
chain /ten/ noun a series of stores or channel management /tn()l
other businesses belonging to the same mndmnt/ noun the managing of a
company a chain of hotels or a hotel marketing channel and the business
chain the chairman of a large partners which form part of it
do-it-yourself chain He runs a chain
channel members /tn()l
of shoe shops. She bought several
garden centres and gradually built up a membz/ plural noun the various com-
chain. panies which form a distribution
the giant US group is better known for its
chain of cinemas and hotels rather than its channel power /tn()l pa/
involvement in shipping [Lloyds List] noun the influence which one company
chairman and managing direc- in a trading channel has over the other
tor /temn n mnd da- companies in the channel
rekt/ noun a managing director who channel strip /tn()l strp/ noun
is also chairman of the board of the front edge of a shelf on which details
channel support 41 cheque

of the products displayed can be put chart /tt/ noun a diagram display-
such as price, weight, code numbers ing information as a series of lines,
channel support /tn()l spt/ blocks, etc.
noun support given to a marketing chan- charter /tt/ noun hiring transport
nel, that is to the people or companies for a special purpose boat on charter
that help to sell the product to Mr Smith a boat which Mr Smith has
hired for a voyage verb to hire for a
character /krkt/ noun a letter, special purpose to charter a plane or
number or sign used in typesetting, e.g. a boat or a bus
a letter of the alphabet, a number or a
punctuation mark chartered /ttd/ adjective a
chartered ship, bus, plane a ship, bus
charge /td/ noun 1. money which or plane which has been hired for a spe-
must be paid, or price of a service to cial purpose
make no charge for delivery to make a
small charge for rental There is no charterer /ttr/ noun a person
charge for this service or No charge is who hires a ship etc. for a special
made for this service. charges for- purpose
ward charges which will be paid by the charter flight /tt flat/ noun a
customer 2. a debit on an account It flight in an aircraft which has been hired
appears as a charge on the accounts. for that purpose
verb 1. to ask someone to pay for ser- chartering /ttr/ noun the act
vices later to charge the packing to of hiring for a special purpose
the customer or to charge the cus- charter party /tt pt/ noun a
tomer with the packing the customer contract between the owner and the
has to pay for packing 2. to ask for charterer of a ship
money to be paid to charge 5 for de-
livery How much does he charge?
charter plane /tt plen/ noun a
plane which has been chartered
travellers cheques cost 1% of their face
value some banks charge more for small cheap money /tip m ni/ noun
amounts [Sunday Times] money which can be borrowed at a low
chargeable /tdb()l/ adjective rate of interest
which can be charged repairs charge- checkbook /tekbk/ noun US
able to the occupier spelling of cheque book
charge account /td kant/ checklist /teklst/ noun a list of
noun an arrangement which a customer points which have to be checked before
has with a store to buy goods and to pay something can be regarded as finished,
for them at a later date, usually when the or as part of a procedure for evaluating
invoice is sent at the end of the month something
(NOTE: The customer will make regular checkout /tekat/ noun the place
monthly payments into the account where goods are paid for in a shop or su-
and is allowed credit of a multiple of permarket We have opened two more
those payments.) checkouts to cope with the Saturday
charity /trt/ noun an organisation rush.
which offers free help or services to checkout staff /tekat stf/
those in need Because the organisa- noun the people who work at checkouts
tion is a charity it does not have to pay check sample /tek smp()l/
taxes. The charity owes its success to noun a sample to be used to see if a con-
clever marketing strategies in its signment is acceptable
fund-raising. cheque /tek/ noun a note to a bank
charity shop /trti p/ noun a asking them to pay money from your ac-
shop organised by a charity, usually count to the account of the person
paying low rent and manned by volun- whose name is written on the note a
teer staff, selling second-hand or spe- cheque for 10 or a 10 cheque (NOTE:
cially bought products American English is usually check)
cheque account 42 city centre

cheque to the bearer a cheque with no churn rate /t&n ret/ noun 1. a
name written on it, so that the person measurement of how often new custom-
who holds it can cash it to endorse a ers try a product or service and then stop
cheque to sign a cheque on the back to using it 2. a measurement of how many
show that you accept it to pay a stocks and bonds are traded in a broker-
cheque into your account to deposit a age account and how often they are
cheque the bank referred the cheque traded
to the drawer it returned the cheque to c.i.f. abbr cost, insurance and freight
the person who wrote it because there cinema advertising /snm
was not enough money in the account to dvtaz/ noun advertising by short
pay it to sign a cheque to sign on the films or still messages on cinema
front of a cheque to show that you screens
authorise the bank to pay the money
circular /s&kjl/ adjective sent to
from your account to stop a cheque to
many people noun a leaflet or letter
ask a bank not to pay a cheque which sent to many people They sent out a
has been signed and sent circular offering a 10% discount.
cheque account /tek kant/ circularise /s&kjlraz/, circular-
noun a bank account which allows the ize verb to send a circular to The com-
customer to write cheques mittee has agreed to circularise the
cheque book /tek bk/ noun a members of the society. They circular-
booklet with new blank cheques (NOTE: ised all their customers with a new list
American English is usually of prices.
checkbook) circular letter /s&kjl let/ noun
cheque (guarantee) card /tek a letter sent to many people
"rnti kd/ noun a plastic card circular letter of credit /s&kjl
from a bank which guarantees payment letr v kredt/ noun a letter of credit
of a cheque up to a specific amount, sent to all branches of the bank which
even if there is no money in the account issues it
cherry-picking /teri pk/ noun circulate /s&kjlet/ verb 1. to
1. going from shop to shop or from sup- circulate freely (of money) to move
plier to supplier, looking for special bar- about without restriction by the govern-
gains Cherry-picking has become so ment 2. to send information to They
widespread that prices may be forced circulated a new list of prices to all their
down. 2. choosing only the best or most customers. They circulated informa-
valuable items from among a group tion about job vacancies to all colleges
in the area.
churn /t&n/ verb 1. to persuade an
investor to change the shares in his or circulation /s&kjle()n/ noun
the number of readers of a newspaper or
her portfolio frequently because the bro-
magazine. It is audited and is not the
ker is paid every time the investor buys
same as readership.
a new share 2. to be in a situation where the level of currency in circulation increased
many employees stay for only a short to N4.9 billion in the month of August
time and then leave and have to be re- [Business Times (Lagos)]
placed 3. to buy many different products circulation battle /s&kjle()n
or services one after the other without bt()l/ noun a competition between
showing loyalty to any of them (NOTE: two papers to try to sell more copies in
Churning often happens when compa- the same market
nies have competitive marketing strat- city /st/ noun a large town The
egies and continually undercut their largest cities in Europe are linked by
rivals prices. This encourages custom- hourly flights.
ers to switch brands constantly in order
to take advantage of cheaper or more city centre /sti sent/ noun the
attractive offers.) centre of a large town, usually where the
main shops and offices are situated
CKD 43 clicks-and-mortar business

CKD abbr Completely Knocked Down clean /klin/ adjective straightforward

products or with no complications
claim form /klem fm/ noun a clean acceptance /klin k-
form which has to be filled in when septns/ noun an unconditional accep-
making an insurance claim tance of a bill of lading A clean ac-
ceptance ensures a quick and
class /kls/ noun a category or group uncomplicated transaction.
into which things are classified
clean bill of lading /klin bl v
classification /klsfke()n/ led/ noun a bill of lading with no
noun arrangement into classes or cate- note to say the shipment is faulty or
gories according to specific characteris- damaged
tics the classification of employees by
ages or skills Jobs in this organisa- clear /kl/ verb 1. to sell cheaply in
tion fall into several classifications. order to get rid of stock Demonstra-
tion models to clear 2. to obtain a slot
classified advertisements for broadcasting an advertisement
/klsfad dv&tsmnts/ plural
clearance /klrns/ noun to ef-
noun advertisements listed in a newspa- fect customs clearance to clear goods
per under special headings such as through customs
property for sale or jobs wanted
clearance sale /klrns sel/ noun
classified catalogue /klsfad a sale of items at low prices to get rid of
kt()l"/ noun a catalogue which stock
groups articles into categories The
classified catalogue is divided into two clear profit /kl prft/ noun profit
sections, electrical and non-electrical after all expenses have been paid We
products. The department store pub- made $6,000 clear profit on the deal.
lishes a classified catalogue with a sec- clerical error /klerk()l er/ noun
tion for each department. There is no a mistake made by someone doing of-
entry for garden furniture in the classi- fice work
fied catalogue. click /klk/ verb to press a key or but-
classified directory /klsfad ton on a keyboard or mouse
darekt()ri/ noun a list of businesses click rate /klk ret/ noun same as
grouped under various headings such as click-through rate
computer shops or newsagents clicks and bricks /klks n brks/
classified display advertising noun a way of doing business that com-
/klsfad dsple dv&taz/ bines e-commerce and traditional shops
noun advertising that, although it is clicks-and-mortar /klks n
classified, may also have individual fea- mt/ adjective conducting business
tures such as its own box border or the both through e-commerce and also in
company logo the traditional way in buildings such as
classify /klsfa/ verb to put into shops and warehouses (NOTE: Compare
classes or categories according to spe- this term with bricks-and-mortar.)
cific characteristics (NOTE: classfies- there may be a silver lining for
classifying- classified) clicks-and-mortar stores that have both an
online and a high street presence. Many of these
clause /klz/ noun a section of a con- are accepting returns of goods purchased online
tract There are ten clauses in the con- at their traditional stores. This is a service that
may make them more popular as consumers
tract of employment. There is a clause become more experienced online shoppers
in this contract concerning the em- [Financial Times]
ployers right to dismiss an employee. clicks-and-mortar business
claused bill of lading /klzd bl /klks n mt bzns/ noun a busi-
v led/ noun a bill of lading stating ness that uses both e-commerce and
that goods did not arrive on board in buildings such as shops to market its
good condition products
click-through 44 closing sentence

click-through /klk ru/ noun an to deal in the area 4. to stop something

act of clicking on a banner or other being open
on-screen advertising that takes the user Toronto stocks closed at an all-time high,
through to the advertisers website posting their fifth straight day of advances in
(NOTE: The number of times users click heavy trading [Financial Times]
on an advertisement can be counted, closed /klzd/ adjective 1. not open
and the total number of click-throughs for business, or not doing business
is a way of measuring how successful The office is closed on Mondays.
the advertisement has been.) These warehouses are usually closed to
click-through rate /klk ru ret/ the public. 2. restricted
noun a method of charging an advertiser closed circuit television /klzd
for the display of a banner advertise- s&kt telv()n/ noun a system
ment on a website. Each time a visitor where TV is shown only to a small
clicks on a displayed advertisement group of people within a limited area
which links to the advertisers main site, such as a building. Abbr CCTV
the advertiser is charged a fee. A closed market /klzd mkt/
click-through rate of just a few percent noun a market where a supplier deals
is common and most advertisers have to only with one agent or distributor and
pay per thousand impressions of their does not supply any others direct They
banner ad, sometimes written CTM signed a closed-market agreement with
(click-through per thousand). (NOTE: an Egyptian company.
The click-through rate is expressed as
a percentage of ad views and is used close down /klz dan/ verb to
to measure how successful an adver- shut a shop, factory or service for a long
tisement has been.) period or for ever The company is
closing down its London office. The
client /klant/ noun a person with accident closed down the station for a
whom business is done or who pays for period.
a service One of our major clients has the best thing would be to have a few more
defaulted on her payments. plants close down and bring supply more in line
client base /klant bes/ noun with current demand [Fortune]
same as client list closing /klz/ adjective 1. final or
clientele /klintel/ noun all the cli- coming at the end 2. at the end of an ac-
ents of a business counting period At the end of the
client list /klant lst/ noun a list of quarter the bookkeeper has to calculate
clients of an advertising agency the closing balance. noun the clos-
ing of an account the act of stopping
clip /klp/ noun a short extract from a supply to a customer on credit
closing bid /klz bd/ noun the
clipping /klp/ noun a piece cut out last bid at an auction, the bid which is
from a publication which refers to an successful
item of particular interest
closing date /klz det/ noun
clipping service /klp s&vs/ the last date The closing date for ten-
noun the service of cutting out refer- ders to be received is May 1st.
ences to a client in newspapers or maga-
zines and sending them to him closing-down sale /klz dan
sel/ noun the sale of goods when a
close /kls/ noun the end of a sales shop is closing for ever
negotiation verb 1. to bring to an end
to close a sale to end a sales negotia- closing price /klz pras/ noun
tion and persuade a buyer to make a pur- the price of a share at the end of a days
chase 2. to stop doing business for the trading
day The office closes at 5.30. We closing sentence /klz
close early on Saturdays. 3. to close a sentns/ noun the last sentence in a
market to restrict a market to one agent marketing email which pushes the cus-
or distributor, and refuse to allow others tomer to take action
closing stock 45 collateral

closing stock /klz stk/ noun between two sets of data on a continuum
the details of stock at the end of an ac- from 1 to +1
counting period At the end of the cognitive dissonance /k"ntv
month the closing stock was 10% higher dsnns/ noun the feeling of dissatis-
than at the end of the previous month. faction experienced by a person who
closing technique /klz tek- cannot reconcile apparently contradic-
nik/ noun a special technique of per- tory information, as when making buy-
suasion used by salespeople to close ing decisions or comparing purchases
sales The training manager demon- with the claims made for them in
strated some presentation and closing advertising
techniques. Most of our sales force cognitive processing /k"ntv
develop their own selling methods, in- prses/ noun the way in which a
cluding closing techniques. person changes external information
closing time /klz tam/ noun into patterns of thought and how these
the time when a shop or office stops are used to form judgments or choices
work cognitive responses /k"ntv r-
closure /kl/ noun the act of spnsz/ plural noun thoughts that
closing come to the mind of someone receiving
club /kl b/ noun a group of people a message when reading or viewing a
who have the same interest, or the place message
where these people meet If you want COI abbr Central Office of Information
the managing director, you can phone cold /kld/ adjective without being
him at his club. She has applied to prepared
join the sports club. the board is considering the introduction of a
set of common provisions on unsolicited calls to
cluster /kl st/ noun a group of investors. The board is aiming to permit the cold
things or people taken together calling of customer agreements for the provision
cluster analysis /kl str of services relating to listed securities. Cold
calling would be allowed when the investor is
nlss/ noun a method whereby not a private investor [Accountancy]
samples are classified into groups ac-
cording to characteristics cold call /kld kl/ noun a tele-
phone call or sales visit where the sales-
cluster sampling /kl st person has no appointment and the
smpl/ noun sampling on the basis client is not an established customer
of well-defined groups Cluster sam-
pling was used in the survey since there cold list /kld lst/ noun a list of
were several very distinct groups in the names and addresses of people who
population under study. have not been approached before by a
clutter /kl t/ noun masses of adver-
tising units shown together, so that any cold start /kld stt/ noun the act
single advertisement or commercial of beginning a new business or opening
tends to get lost a new shop with no previous turnover to
base it on
code /kd/ noun a system of signs, cold storage /kld strd/ noun
numbers, or letters which mean
the keeping of food in a cold store to
prevent it or other goods from going bad
code of practice /kd v cold store /kld st/ noun a ware-
prkts/ noun formally established house or room where food can be kept
ways in which members of a profession cold
agree to work Advertisers have
agreed to abide by the code of practice collateral /klt()rl/ adjective,
set out by the advertising council. noun referring to security used to pro-
vide a guarantee for a loan
coefficient of correlation /k- examiners have come to inspect the
f()nt v krle()n/ noun a mea- collateral that thrifts may use in borrowing from
surement of correlation or relationship the Fed [Wall Street Journal]
collateral services 46 commercial aircraft

collateral services /klt()rl combination rate /kmbne()n

s&vsz/ plural noun agencies which ret/ noun a special rate or discount for
provide specialised services such as advertising in two or more magazines
package design, production of advertis- comeback /k mbk/ noun a means
ing material, or marketing research of getting compensation for a complaint
collect /klekt/ verb 1. to make or claim If you throw away the till re-
someone pay money which is owed to ceipt you will have no comeback if the
collect a debt to go and make someone goods turn out to be faulty.
pay a debt 2. to take things away from a
place We have to collect the stock comfortable belongers
from the warehouse. Can you collect /k mf()tb()l blz/ plural noun
my letters from the typing pool? let- a large group of consumers who are
ters are collected twice a day the post conservative in outlook and happy with
office workers take them from the letter their existence
box to the post office for dispatch ad- commando selling /kmnd
verb, adjective referring to a phone call sel/ noun hard intensive selling
which the person receiving the call Commando selling campaigns were
agrees to pay for started in all the new markets where the
collectibles /klektb()lz/ plural companys products were virtually un-
noun items which people collect, e.g. known. Commando selling is needed
stamps, playing cards, matchboxes to obtain a reasonable market share in a
collecting agency /klekt market dominated by a powerful
edns/ noun an agency which col- competitor.
lects money owed to other companies commerce /km&s/ noun the buy-
for a commission ing and selling of goods and services
colour supplement /k l commerce service provider
s plmnt/ noun a magazine which ac- /km&s s&vs prvad/ noun an
companies a newspaper, usually with organisation that provides a service that
the weekend issue, printed in colour on helps companies with some aspect of
art paper, and containing a lot of adver- e-commerce, e.g., by acting as an
tising The spring colour supplements Internet payment gateway
were mostly devoted to holiday advertis-
ing. The clothing company bought ad- commercial /km&()l/ adjective
1. referring to business sample only
vertising space on three pages of the
colour supplement. of no commercial value not worth
anything if sold 2. profitable not a
colour swatch /k l swt/ noun a commercial proposition not likely to
small sample of colour which the fin- make a profit noun an advertisement
ished product must look like on television
colour theory /k l ri/ noun commercial radio has never had it so good
knowledge about colours and their psy- more stations, more listeners, and soaring
chological effect on prospective advertising revenue [Marketing Week]
customers commercial agent /km&()l
column /klm/ noun a section of ednt/ noun a person or business
printed words in a newspaper or selling a companys products or services
magazine for a commission The commercial
column-centimetre /klm agent earned a 30% commission on
sentmit/ noun the space in centi- sales he made. As a commercial
metres in a newspaper column, used for agent, she represents several
calculating charges for advertising companies.
combination commercial commercial aircraft /km&()l
/kmbne()n km&()l/ noun a ekrft/ noun an aircraft used to carry
television advertisement which com- cargo or passengers for payment
bines still pictures with action shots
commercial artist 47 commitment

commercial artist /km&()l tee that rival products will not be adver-
tst/ noun an artist who designs ad- tised directly before or after a particular
vertisements, posters, etc. for payment advertisement
commercial break /km&()l commercial radio /km&()l
brek/ noun the time set aside for com- redi/, commercial TV /k-
mercials on television The advertiser m&()l tivi/ noun a radio or TV
wished to specify exactly when in the station which broadcasts advertise-
commercial break the advertisements ments, which help to pay for its pro-
were to appear. The advertising man- gramming costs
ager placed one advertisement in each commercial services /km&()l
commercial break of the day on the ra- s&vsz/ plural noun services which
dio channel. support trade, e.g. banking and advertis-
commercial college /km&()l ing The recession has affected com-
kld/ noun a college which teaches mercial services and the industries they
business studies support and supply.
commercial counsellor /k- commercial time /km&()l
m&()l kans()l/ noun a person tam/ noun the time that a television or
who advises on commercial matters in radio station devotes to advertising
an embassy The commercial counsel- The TV station is extending its commer-
lor gave us sound advice on marketing cial time in order to increase revenue.
in the country he represented. commercial traveller /km&()l
commercial course /km&()l trv()l/ noun a salesperson who
ks/ noun a course where business travels round an area visiting customers
skills are studied He took a commer- on behalf of his or her company (NOTE:
cial course by correspondence. the modern term for a commercial trav-
eller is sales representative)
commercial district /km&()l
dstrkt/ noun the part of a town where commercial value /km&()l
offices and shops are located vlju/ noun how much something is
worth if it is sold
commercialisation /km&la-
zen/, commercialization noun the commission /km()n/ noun
act of making something into a business money paid to a salesperson or agent,
proposition the commercialization of usually a percentage of the sales made
museums She gets 10% commission on everything
she sells. he charges 10% commis-
commercialise /km&laz/,
sion he asks for 10% of sales as his
commercialize verb to make some-
thing into a business The holiday
town has become unpleasantly commission agent /km()n
commercialised. ednt/ noun an agent who is paid a
percentage of sales
commercial law /km&()l l/
noun the laws regarding business commission rebating /km()n
ribet/ noun an advertising agencys
commercial load /km&()l ld/ discounting of invoices for media costs
noun the amount of goods or number of sent to clients, in effect taking them out
passengers which a bus, train, or plane of its own commission or profit margin
has to carry to make a profit
commission rep /km()n rep/
commercially /km&()li/ adverb noun a representative who is not paid a
in a business way not commercially salary but receives a commission on
viable not likely to make a profit sales
commercial port /km&()l pt/ commitment /kmtmnt/ noun 1.
noun a port which has only goods traffic something which you have agreed to do
and no passengers The company has a commitment to
commercial protection /k- provide a cheap service. 2. money
m&()l prtekn/ noun the guaran- which you have agreed to spend
commodity 48 communisuasion

commodity /kmdt/ noun some- communication objectives /k-

thing sold in very large quantities, espe- mjunke()n bdektvz/ plural
cially a raw material such as a metal and noun objectives that a company tries to
food such as wheat achieve through its advertising, e.g.
commodity exchange /kmdti creating awareness, knowledge, images,
kstend/ noun a place where com- attitudes, preferences, or purchase
modities are bought and sold intentions
commodity futures /kmdti communications /kmjun-
fjutz/ plural noun trading in com- ke()nz/ plural noun 1. being able to
modities for delivery at a later date contact people or to pass messages Af-
Silver rose 5% on the commodity futures ter the flood all communications with
market yesterday. the outside world were broken. 2. sys-
commodity trader /kmdti tems or technologies used for sending
tred/ noun a person whose business and receiving messages, e.g. postal and
is buying and selling commodities telephone networks 3. messages sent
from one individual or organisation to
common /kmn/ adjective 1. which another
happens frequently Unrealistic salary
expectations in younger staff was a communications channel /k-
common problem they had to deal with. mjunke()nz tn()l/ noun a
2. belonging to several different people means of passing messages from one in-
or to everyone dividual or organisation to another
(NOTE: Communications channels
common carrier /kmn kri/
include the spoken, written, and
noun a firm which carries goods or pas-
printed word, and media such as
sengers, and which anyone can use
radio and television, telephones,
Common Market /kmn mkt/ video-conferencing and electronic
noun an association of nations who join mail.)
together in order to remove or reduce
the barriers to trade between them communication skills /kmjun-
ke()n sklz/ plural noun the ability
common ownership /kmn to pass information to others easily and
np/ noun a situation where a intelligibly
business is owned by the people who
work in it communications management
/kmjunke()nz mndmnt/
common pricing /kmn pras/
noun the managing of communications,
noun the illegal fixing of prices by sev-
so that advertising messages are sent ef-
eral businesses so that they all charge
ficiently to people who need to receive
the same price
common stock /kmn stk/
noun US ordinary shares in a company, communications strategy /k-
giving shareholders a right to vote at mjunke()nz strtdi/ noun
meetings and to receive dividends planning the best way of communicat-
ing with potential customers
communication /kmjun-
ke()n/ noun the passing on of views communication task /kmjun-
or information A house journal was ke()n tsk/ noun things that can be
started to improve communication be- attributed to advertising, e.g. awareness,
tween management and staff. Cus- comprehension, conviction, and action,
tomers complained about the lack of following the DAGMAR approach to
communication about the unexpected setting advertising goals and objectives
delay. to enter into communication communisuasion /kmjun-
with someone to start discussing some- swe()n/ noun US communication
thing with someone, usually in writing that is intended to persuade The sales
We have entered into communication reps are being trained in the subtleties
with the relevant government of communisuasion.
community 49 competition

community /kmjunti/ noun a comparative analysis /km-

group of people living or working in the prtv nlss/ noun an analysis
same place of different media and vehicle options
community initiative /kmjunti by an advertiser A tight advertising
ntv/ noun a particular scheme set budget made a thorough comparative
up by a business organisation with the analysis essential. Comparative anal-
aim of making a positive contribution to ysis is difficult when the various media
the life of the community by helping lo- offer such different advantages.
cal people take practical action to solve comparative pricing /kmprtv
their problems pras/ noun the indication of a price
community involvement /k- by comparing it with another, e.g. 15%
mjunti nvlvmnt/ noun the con- reduction
tribution that business organisations comparison /kmprs()n/ noun
make to the life of their local commu- the act of comparing one thing with an-
nity in the form of community initia- other Sales are down in comparison
tives (NOTE: Community involvement with last year.
developed as a result of the growing
emphasis on the social responsibility
comparison-shop /kmprs()n
p/ verb to compare prices and fea-
of business in the 1960s and 1970s
and often involves companies not only
tures of items for sale in different shops
giving money to finance local projects
to find the best deal
but also sending trained staff to help compete /kmpit/ verb to com-
set them up.) pete with someone or with a company
Community legislation /k- to try to do better than another person or
mjunti mnstz/ noun directives another company We have to compete
issued by the EU commission with cheap imports from the Far East.
They were competing unsuccessfully
Community ministers /k- with local companies on their home ter-
mjunti nvlvmnt/ plural noun the ritory. the two companies are com-
ministers of member states of the EU peting for a market share or for a
company report /k mp()ni r- contract each company is trying to win
pt/ noun a document that sets out in a larger part of the market, trying to win
detail what a company has done and the contract
how well it has performed (NOTE: Com- competing /kmpit/ adjective
panies are legally required to write an- which competes competing firms
nual reports and financial reports and firms which compete with each other
to submit them to the authorities in the competing products products from dif-
country where they are registered, but ferent companies which have the same
they may also produce other reports use and are sold in the same markets at
on specific subjects, for example, on similar prices
the environmental or social impact of a
project they are undertaking.) competition /kmpt()n/ noun
1. the action of companies or individu-
comparative /kmprtv/ adjec- als who are trying to do better than oth-
tive which can be compared with some- ers, to win a larger share of the market,
thing else to control the use of resources, etc.
comparative advertising /km- keen competition strong competition
prtv dvtaz/ noun advertis- We are facing keen competition from
ing which compares a companys prod- European manufacturers. 2. the com-
uct with competing brands to its own petition companies which are trying to
advantage Disparaging remarks in compete with your product We have
comparative advertising were strongly lowered our prices to beat the competi-
discouraged in the industry. The com- tion. The competition have brought
pany uses comparative advertising to out a new range of products.
highlight the advantages of its products.
competition-oriented pricing 50 competitive separation

profit margins in the industries most exposed competitive edge /kmpettv

to foreign competition are worse than usual
[Sunday Times]
ed/, competitive advantage /km-
pettv dvntd/ noun an advan-
competition is steadily increasing and could tage that one company or product has
affect profit margins as the company tries to over its rivals in the market Any com-
retain its market share [Citizen (Ottawa)]
petitive edge we have in this market is
competition-oriented pricing due to our good after-sales service.
/kmpt()n rientd pras/ Why does this product have the competi-
noun putting low prices on goods so as tive edge over its rivals?
to compete with other competing competitive forces /kmpettv
products fsz/ plural noun economic and busi-
competitions /kmpt()nz/ plu- ness factors that force an organisation to
ral noun a sales promotion which en- become more competitive if wants to
ables consumers who can show that they survive and succeed
have bought a minimum number of pur- competitive intelligence /km-
chases to compete in a game The com- pettv nteldns/ noun informa-
pany uses competitions to sell off an tion, especially information concerning
excess supply of tinned food. Compe- the plans, activities, and products of its
titions involve prizes ranging from competitors, that an organisation gathers
washing-machines to holidays abroad. and analyses in order to make itself
Competitions and free gifts make up a more competitive (NOTE: Competitive
large part of the companys sales intelligence may sometimes be gained
promotions. through industrial espionage.)
competitive /kmpettv/ adjective competitively /kmpettvli/ ad-
which competes fairly a competitive verb competitively priced sold at a
price a low price aimed to compete with low price which competes with the price
a rival product competitive products of similar products from other
products made to compete with existing companies
products competitiveness /kmpettvns/
the company blamed fiercely competitive noun being competitive
market conditions in Europe for a 14m farmers are increasingly worried by the
operating loss last year [Financial Times] growing lack of competitiveness for their
products on world markets
competitive advantage /km- [Australian Financial Review]
pettv dvntd/ noun a factor
competitiveness index /km-
that gives a special advantage to a na-
pettvns ndeks/ noun a list of
tion, company, group, or individual
countries ranked in order of their com-
when it is competing with others
petitive performance
competitive analysis /kmpettv competitive parity /kmpettv
nlss/ noun analysis for marketing prti/ noun a method of budgeting
purposes that can include industry, cus- marketing or promotional expenses ac-
tomer, and competitor analysis and aims cording to the amounts being spent by
to discover how competitive an organi- competitors
sation, project, or product is, especially
by evaluating the capabilities of key competitive pricing /kmpettv
competitors pras/ noun putting low prices on
goods so as to compete with other
competitive check /kmpettv products
tek/ noun analysing rival advertising competitive separation /km-
levels and patterns, often conducted on pettv sepre()n/ noun a guaran-
the basis of data supplied by monitoring tee that rival products will not be adver-
organisations tised directly before or after a particular
competitive demand /kmpettv advertisement If our advertising cam-
dmnd/ noun demand for products paign is to be really effective, we must
that are competing for sales insist on competitive separation.
competitor 51 computer

competitor /kmpett/ noun a per- der to function successfully (NOTE:

son or company which competes Two Software companies, for example, are
German firms are our main competitors. complementors to computer compa-
sterling labour costs continue to rise between nies.)
3% and 5% a year faster than in most of our
competitor countries [Sunday Times] Completely Knocked Down
competitor analysis /kmpett products /kmplitli nkt dan
prasz/ plural noun products which
nlss/ noun the process of analys-
are sold in pieces, which the purchaser
ing information about competitors and
has to assemble, and are therefore sold
their products in order to build up a pic-
at reasonably low prices Many
ture of where their strengths and weak-
low-income buyers buy CKD products.
nesses lie
CKD products are popular with DIY
competitor profiling /kmpett enthusiasts. Abbr CKD products
prfal/ noun same as competitor
analysis compliance documentation
/kmplans dkjmente()n/
complaint /kmplent/ noun a state- noun documents that a company has to
ment that you feel something is wrong publish when it issues shares in order to
complaints from the workforce about comply with the regulations governing
conditions in the factory When mak- share issues
ing a complaint, always quote the refer-
ence number. She sent her letter of compliance officer /kmplans
complaint to the managing director. fs/ noun an employee of a financial
organisation whose job is to make sure
complaints department /km- that the organisation complies with the
plents dptmnt/ noun a depart- regulations governing its business
ment in a company or store to which
customers can send or bring complaints complimentary /kmplment()ri/
about its products or service adjective free
complaints management /km- complimentary ticket
plents mndmnt/ noun the man- /kmplment()ri tkt/ noun a free
agement of complaints from customers ticket, given as a present
complementary /kmpl- compliments slip /kmplmnts
ment()ri/ adjective which adds to or slp/ noun a piece of paper with the
completes something else name of the company printed on it, sent
with documents or gifts etc. instead of a
complementary demand
/kmplment()ri dmnd/ noun de-
mand for two or more products that are component /kmpnnt/ noun a
needed together The demand for cars piece of machinery or a part which will
and petrol was an example of comple- be put into a final product The assem-
mentary demand. bly line stopped because the supply of a
complementary product vital component was delayed.
/kmplment()ri prd kt/ noun a components factory /km-
product for which demand is dependent pnnts fkt()ri/ noun a factory
on the demand for another product which makes parts which are used in
When demand for our product fell, pro- other factories to make finished
ducers of complementary products also products
suffered. composite demand /kmpzt d-
complementary supply mnd/ noun the total demand for a
/kmplment()ri spla/ noun the product that has many uses Composite
supply of two or more products from the demand for the construction equipment
same production process came from construction companies and
complementor /kmplment/ DIY enthusiasts.
noun a company that makes some- computer /kmpjut/ noun an elec-
thing that your product needs in or- tronic machine which calculates or
computer bureau 52 concept

stores information and processes it computer run /kmpjut r n/

automatically noun a period of work done by a
computer bureau /kmpjut computer
bjr/ noun an office which offers computer services /kmpjut
to do work on its computers for compa- s&vsz/ plural noun work using a
nies which do not own their own computer, done by a computer bureau
computer system /kmpjut
computer department /km- sstm/ noun a set of programs, com-
pjut dptmnt/ noun a depart- mands, etc. which run a computer
ment in a company which manages the
companys computers computer telephony integration
/kmpjut tlefni nt"re()n/
computer error /kmpjutr er/ noun a technology that links computers
noun a mistake made by a computer and telephones and enables computers
computer file /kmpjut fal/ to dial telephone numbers and send and
noun a section of information on a com- receive messages (NOTE: One product
puter, e.g. the payroll, list of addresses, of computer telephony integration is
or customer accounts calling line identification, which identi-
computer hardware /kmpjut fies the telephone number a customer
hdwe/ noun machines used in data is calling from, searches the customer
processing, including the computers and database to identify the caller, and dis-
printers, but not the programs plays his or her account on a computer
computerise /kmpjutraz/, screen.)
computerize verb to change from a computer time /kmpjut tam/
manual system to one using computers noun the time when a computer is being
We have computerised all our re- used, paid for at an hourly rate
cords. Stock control is now com- computing /kmpjut/ noun the
pletely computerised. operating of computers
computerised /kmpjutrazd/, computing speed /kmpjut
computerized adjective worked by spid/ noun the speed at which a com-
computers a computerised invoicing puter calculates
system a computerised filing system
computer language /kmpjut concentrated marketing
/knsntretd mkt/, concen-
l"wd/ noun a system of signs, let-
trated segmentation /knsntretd
ters and words used to instruct a
computer se"mnte()n/ noun niche market-
ing, the promotion of a product aimed at
computer listing /kmpjut one particular area of the market
lst/ noun a printout of a list of items When it became obvious that the gen-
taken from data stored in a computer eral public were interested in our prod-
computer magazine /kmpjut uct, we switched from concentrated
m"zin/ noun a magazine with arti- marketing to a much broader approach.
cles on computers and programs differentiated marketing strategy,
computer manager /kmpjut undifferentiated product
mnd/ noun a person in charge of a concentration /knsntre()n/
computer department noun the degree to which a small num-
computer network /kmpjut ber of businesses control a large section
netw&k/ noun a computer system of the market Too much concentration
where several PCs are linked so that created resentment among small busi-
they all draw on the same database nesses trying to enter the market.
computer-readable /kmpjut Concentration has meant too little com-
ridb()l/ adjective which can be read petition and therefore higher prices to
and understood by a computer com- the consumer.
puter-readable codes concept /knsept/ noun an idea
concept testing 53 confirmation

concept testing /knsept test/ conditions of sale /knd()nz v

noun the evaluation of a new product sel/ plural noun agreed ways in which
idea, usually by consulting representa- a sale takes place, e.g. discounts or
tives from all the main departments in a credit terms
company, and/or by interviewing a sam- conference /knf()rns/ noun a
ple of consumers The new product meeting of people to discuss problems
idea did not survive concept testing be- Many useful tips can be picked up at a
cause it didnt answer an existing de- sales conference. The conference of
mand. After thorough concept testing HR managers included talks on payment
the idea of a disposable pen was re- and recruitment policies. to be in
jected as the companys production ca- conference to be in a meeting
pacity was too limited.
conference call /knf()rns kl/
concession /knse()n/ noun 1. noun a telephone call that connects
the right to use someone elses property three or more lines so that people in dif-
for business purposes 2. the right to be ferent places can talk to one another
the only seller of a product in a place (NOTE: Conference calls reduce the
She runs a jewellery concession in a de- cost of meetings by making it unneces-
partment store. 3. allowing something sary for the participants to spend time
to be done, which is not normally done and money on getting together in one
The union obtained some important place.)
concessions from management during
negotiations. confidence /knfd()ns/ noun the
state of feeling sure or being certain
concessionaire /knsene/ The sales teams do not have much confi-
noun a person or business that has the dence in their manager. The board
right to be the only seller of a product in has total confidence in the managing
a place director.
concession close /knse()n confidence level /knfd()ns
klz/ noun the act of offering a con- lev()l/ noun a measurement, shown as
cession to a potential buyer in order to a percentage, of how reliable or accurate
close a sale The trainee sales reps the results of a survey can be expected
were told to resort to concession closes to be
only when meeting with strong sales re-
sistance. A full mornings bargaining
confidentiality agreement
/knfdenilti "rimnt/ noun
finally ended with a concession close.
an agreement in which an organisation
condition /knd()n/ noun some- that has important information about
thing which has to be carried out as part the plans and activities of another
of a contract or which has to be agreed organisation promises not to pass that
before a contract becomes valid on information on to outsiders (NOTE:
condition that provided that They Confidentiality agreements are often
were granted the lease on condition that used when someone is planning to
they paid the legal costs. buy a company and is given access
conditional /knd()nl/ adjective to confidential information and in
provided that specific conditions are partnerships and benchmarking
taken into account to give a condi- programmes.)
tional acceptance to accept, provided confirm /knf&m/ verb to say that
that specific things happen or that spe- something is certain to confirm a ho-
cific terms apply the offer is condi- tel reservation or a ticket or an agree-
tional on the boards acceptance the ment or a booking to confirm
offer is only valid provided the board someone in a job to say that someone is
accepts now permanently in the job
conditional offer /knd()nl confirmation /knfme()n/
f/ noun an offer to buy, provided that noun 1. the act of making certain con-
specific terms apply firmation of a booking the act of
confirmed credit 54 consultancy

checking that a booking is certain 2. a manufacturers agree to repurchase any unsold

document which confirms something goods, and in return dictate prices and sales
strategies and even dispatch staff to sell the
She received confirmation from the products [Nikkei Weekly]
bank that the deeds had been deposited.
consignment note /knsanmnt
confirmed credit /knf&md nt/ noun a note saying that goods
kredt/ noun credit that is official and have been sent
binding consignor /knsan/ noun a person
confirming house /knf&m who consigns goods to someone
has/ noun an organisation that con- consolidate /knsldet/ verb 1. to
firms a buyers order with a supplier and include the accounts of several subsid-
makes transport arrangements A repu- iary companies as well as the holding
table confirming house acted for the company in a single set of accounts 2. to
buyers of the machinery. We will need group goods together for shipping
a confirming house to arrange for a new
supply of office furniture to be delivered consolidated profit and loss ac-
to our shop by December. count /knsldetd prft n ls
kant/ noun profit and loss accounts
conflict of interest /knflkt v of the holding company and its subsid-
ntrst/ noun a situation where a per- iary companies, grouped together into a
son or firm may profit personally from single profit and loss account (NOTE:
decisions taken in an official capacity American English is profit and loss
conglomerate /kn"lmrt/ noun statement or income statement)
a group of subsidiary companies linked consolidated shipment /kn-
together and forming a group, each sldetd pmnt/ noun goods from
making very different types of products different companies grouped together
conjoint analysis /kndnt into a single shipment
nlss/ noun a research method consolidation /knslde()n/
aimed at discovering the best combina- noun the grouping together of goods for
tion of features for a product or service, shipping
e.g. price and size
consolidator /knsldet/ noun a
connectivity /knektvti/ noun firm which groups together orders from
the ability of an electronic product to different companies into one shipment
connect with other similar products, or
the extent to which individuals, compa- consortium /knstim/ noun a
nies and countries can connect with one group of companies which work to-
another electronically gether A consortium of Canadian
companies or a Canadian consortium
consign /knsan/ verb to consign has tendered for the job. (NOTE: plural is
goods to someone to send goods to consortia)
someone for them to use or to sell for the consortium was one of only four bidders
you for the 2 billion contract to run the lines, seen
as potentially the most difficult contract because
consignation /knsane()n/ of the need for huge investment [Times]
noun the act of consigning
conspicuous consumption /kn-
consignee /knsani/ noun a per- spkjus kns mpn/ noun the
son who receives goods from someone consumption of goods for show or to get
for their own use or to sell for the sender approval, rather than because they are
consignment /knsanmnt/ noun useful. consumption
the sending of goods to someone who consult /kns lt/ verb to ask an ex-
will sell them for you goods on con- pert for advice We consulted our ac-
signment goods kept for another com- countant about our tax.
pany to be sold on their behalf for a
commission consultancy /kns ltnsi/ noun the
some of the most prominent stores are act of giving specialist advice a con-
gradually moving away from the traditional sultancy firm he offers a consultancy
consignment system, under which service
consultant 55 Consumer Protection Act, 1987

consultant /kns ltnt/ noun a spe- washing machines, refrigerators, or

cialist who gives advice an engineer- cookers
ing consultant a management consumerism /knsjumzm/
consultant a tax consultant noun the activities concerned with pro-
consulting /kns lt/ adjective tecting the rights and interests of
giving specialist advice a consulting consumers
engineer consumer list /knsjum lst/
consumable goods/ kn- noun a list of individuals who can be
sjumb()l "dz/, consumables mailed with details of a product or ser-
/knsjumb()lz/ plural noun goods vice, e.g. from the electoral register
which are bought by members of the consumer magazine /knsjum
public and not by companies m"zin/ noun a magazine published
consumer /knsjum/ noun a per- for consumers, giving details of product
son or company which buys and uses tests, special legal problems regarding
goods and services Gas consumers services offered, etc.
are protesting at the increase in prices. consumer mailing list /kn-
The factory is a heavy consumer of sjum mel lst/ noun same as
water. consumer list
forecasting consumer response is one
problem which will never be finally solved consumer market /knsjum
[Marketing Week] mkt/ noun the customers who buy
consumer tastes in the UK are becoming consumer goods There is a growing
much more varied [Marketing] consumer market for construction mate-
the marketing directors brief will be to rials owing to the increased popularity
develop the holiday villages as a consumer of DIY. Both consumer markets and
brand, aimed at the upper end of the tourist industrial markets have been affected by
market [Marketing Week] the recession.
consumer advertising /kn- consumer panel /knsjum
sjum dv&taz/ noun advertis- pn()l/ noun a group of consumers
ing direct to individual consumers, as who report on products they have used
opposed to businesses so that the manufacturers can improve
consumer cooperative /kn- them or use what the panel says about
sjum kp()rtv/ noun a retail- them in advertising
ing business owned by consumers who Consumer Price Index /kn-
share in its profits sjum pras ndeks/ noun an Amer-
consumer council /knsjum ican index showing how prices of con-
kans()l/ noun a group representing sumer goods have risen over a period of
the interests of consumers time, used as a way of measuring infla-
tion and the cost of living (NOTE: The
consumer credit /knsjum
British equivalent is the Retail Prices
kredt/ noun the credit given by shops,
Index or RPI.)
banks and other financial institutions to
analysis of the consumer price index for the
consumers so that they can buy goods first half of the year shows that the rate of
(NOTE: Lenders have to be licensed un- inflation went down by about 12.9 per cent
der the Consumer Credit Act, 1974.) [Business Times (Lagos)]
Consumer Credit Act, 1974 /kn- consumer profile /knsjum
sjum kredt kt/ noun an Act of prfal/ noun a description of the rel-
Parliament which licenses lenders, and evant details of the average customer for
requires them to state clearly the full a product or service
terms of loans which they make, includ- Consumer Protection Act, 1987
ing the APR /knsjum prtekn kt/ noun an
consumer durables /knsjum Act of Parliament which bans the use of
djrb()lz/ plural noun items which misleading information given to poten-
are bought and used by the public, e.g. tial purchasers to encourage them to buy
consumer research 56 contingent liability

consumer research /knsjum contain /kn ten/ verb to hold some-

r s t/ noun research into why con- thing inside a barrel contains 250
sumers buy goods and what goods they litres Each crate contains two com-
may want to buy puters and their peripherals. We have
consumer resistance /knsjum lost a file containing important
r zstns/ noun a lack of interest by documents.
consumers in buying a new product container /kn ten/ noun 1. a box,
The new product met no consumer resis- bottle, can, etc. which can hold goods
tance even though the price was high. The gas is shipped in strong metal con-
tainers. The container burst during
Consumers Association shipping. 2. a very large metal case of a
/kn sjumz ssiei()n/ noun an
standard size for loading and transport-
independent organisation which protects ing goods on trucks, trains, and ships
consumers and represents their interests, to ship goods in containers a con-
and reports on the quality of products tainer-load of spare parts a shipment
and services in its regular magazine. of spare parts sent in a container
Abbr CA
containerisation /kntenra-
consumer society /knsjum s- ze()n/, containerization noun the
sati/ noun a type of society where act of shipping goods in containers
consumers are encouraged to buy goods
containerise /kn tenraz/,
consumer sovereignty /kn- containerize verb to put or ship goods
sjum svrnti/ noun the power of in containers
consumers to influence trends in pro- content / kntent/ noun the text, il-
duction and marketing lustrations and graphics of a piece of
consumer spending /knsjum publicity
spend/ noun spending by private content management / kntent
households on goods and services mndmnt/ noun the management
companies selling in the UK market are of the textual and graphical material
worried about reduced consumer spending as a contained on a website (NOTE: Owners
consequence of higher interest rates and
inflation [Business] of large sites with thousands of pages
often invest in a content management
consumers surplus /knsjumz application system to help with the cre-
s pls/ noun the difference between ation and organisation of the content of
what a consumer is willing to pay for these sites.)
something and what he or she actually contest / kntest/ noun a type of pro-
does pay for it When the brand man- motion where prizes are given to people
ager realised how big the consumers who give the right answers to a series of
surplus was she decided to raise the questions
price of the product.
contested takeover /kntestd
consumer survey /knsjum tekv/ noun a takeover bid where
s ve/ noun a survey of existing and the board of the target company does
potential demand for a product not recommend it to the shareholders
consumer-to-consumer com- and tries to fight it (NOTE: also called a
merce /knsjum t kn sjum hostile bid)
km s/ noun business, especially contingency plan /kn tndnsi
e-business, done by one individual with pln/ noun a plan which will be put
another and not involving any business into action if something happens which
organisation no one expects to happen
consumption /kn smpn/ noun contingent liability /kntndnt
the act of buying or using goods or ser- la blti/ noun a liability which may
vices a car with low petrol consump- or may not occur, but for which provi-
tion The factory has a heavy sion is made in a companys accounts,
consumption of coal. as opposed to provisions, where
continuity 57 contract manufacturing

money is set aside for an anticipated spare parts to enter into a contract to
expenditure supply spare parts to sign a contract
continuity /kntnjuti/ noun the for 10,000 worth of spare parts to
act of maintaining a continuous stable put work out to contract to decide that
level of advertising activity Continu- work should be done by another com-
ity must be the watchword of this pro- pany on a contract, rather than by em-
motional campaign to keep the product ploying members of staff to do it to
firmly in the minds of the target audi- award a contract to a company or to
ence. Shall we aim for a sudden short place a contract with a company to
blast of advertising or should continuity decide that a company shall have the
be the essence of our strategy? contract to do work for you to tender
for a contract to put forward an esti-
continuity programme /knt- mate of cost for work under contract
njuti pr"rm/ noun a marketing verb /kntrkt/ to agree to do some
programme which offers a series of work on the basis of a legally binding
products which are sent to customers at contract to contract to supply spare
regular intervals parts or to contract for the supply of
continuous /kntnjs/ adjective spare parts the supply of spare parts
with no end or with no breaks a con- was contracted out to Smith Ltd
tinuous production line Smith Ltd was given the contract for
continuous process production supplying spare parts to contract out
/kntnjs prses prd kn/ of an agreement to withdraw from an
noun automated production of many agreement with the written permission
identical products of the other party
continuous research /kntnjs contract carrier /kntrkt kri/
rs&t/ noun regular ongoing market noun a carrier or transportation com-
research Continuous research will tell pany which has special contracts with
us if sales are dropping off. businesses a contract carrier which
contra /kntr/ verb to contra an ships coffee beans from Brazil to coffee
entry to enter a similar amount in the wholesalers in Britain
opposite side of an account contract hire /kntrkt ha/ noun
contra account /kntr kant/ a system that allows organisations to
noun an account which offsets another hire equipment that they need to use for
account, e.g. where a companys sup- a long period, e.g. cars or office ma-
plier is not only a creditor in that com- chines, from other organisations instead
panys books but also a debtor because of buying it, on condition that they sign
it has purchased goods on credit a contract for the hire with owners
(NOTE: Contract hire agreements often
contraband /kntrbnd/ noun include arrangements for maintenance
goods brought into a country illegally, and replacement.)
without paying customs duty
contracting company /kn-
contract noun /kntrkt/ 1. a legal trkt k mp()ni/ noun an inde-
agreement between two parties to pendent broadcasting company that sells
draw up a contract to draft a contract advertising time With two new con-
to sign a contract the contract is
tracting companies being set up this
binding on both parties both parties year, advertisers will have more choice.
signing the contract must do what is
agreed under contract bound by the contracting party /kntrkt
terms of a contract The firm is under pti/ noun a person or company that
contract to deliver the goods by Novem- signs a contract
ber. to void a contract to make a con- contract manufacturing
tract invalid 2. by private contract /kntrkt mnjfktr/ noun
by private legal agreement 3. an agree- an agreement which allows an overseas
ment for the supply of a service or manufacturer to manufacture or assem-
goods a contract for the supply of ble your products in that country for sale
contract note 58 controllable variables

there Under a contract manufacturing contribution margin /kntr-

agreement a local company is making bju()n mdn/ noun the differ-
our cars in France. ence between the revenue generated by
contract note /kntrkt nt/ a product and its total variable costs
noun a note showing that shares have contribution of capital /kntr-
been bought or sold but not yet paid for, bju()n v kpt()l/ noun money
also including the commission paid to a company as additional capital
contractor /kntrkt/ noun a per- contribution pricing /kntr-
son or company that does work accord- bju()n pras/ noun a pricing
ing to a written agreement method based on maximising the contri-
bution of each product to fixed costs
contractual /kntrktul/ adjec-
tive according to a contract to fulfil contributor /kntrbjt/ noun a
your contractual obligations to do person who gives money contributor
what you have agreed to do in a contract of capital person who contributes
contractual liability /kn-
trktul lablti/ noun a legal re- control /kntrl/ noun 1. the power
sponsibility for something as stated in a or ability to direct something The
contract company is under the control of three
shareholders. to lose control of a
contractually /kntrktjuli/ ad- business to find that you have less than
verb according to a contract The com-
50% of the shares in a company, and so
pany is contractually bound to pay our are not longer able to direct it The
expenses. family lost control of its business. 2. re-
contractual obligation /kn- stricting or checking something or mak-
trktul bl"e()n/ noun he has ing sure that something is kept in check
signed no agreement to buy under control kept in check Ex-
contract work /kntrkt w&k/ penses are kept under tight control.
noun work done according to a written The company is trying to bring its over-
agreement heads back under control. out of con-
trol not kept in check Costs have got
contra deal /kntr dil/ noun a out of control. verb 1. to control a
deal between two businesses to ex- business to direct a business The
change goods and services business is controlled by a company
contra entry /kntr entri/ noun based in Luxembourg. The company
an entry made in the opposite side of an is controlled by the majority share-
account to make an earlier entry worth- holder. 2. to make sure that something
less, i.e. a debit against a credit is kept in check or is not allowed to de-
contribute /kntrbjut/ verb to velop The government is fighting to
give money or add to money We control inflation or to control the rise in
agreed to contribute 10% of the profits. the cost of living. (NOTE: controlling
They had contributed to the pension controlled)
fund for 10 years. control group /kntrl "rup/
contribution /kntrbju()n/ noun a small group which is used to
noun something that is contributed check a sample group
contribution analysis /kntr- controllable /kntrlb()l/ adjec-
bju()n nlss/ noun analysis of tive which can be controlled
how much each of a companys prod- controllable variables /kn-
ucts contributes to fixed costs, based on trlb()l verib()lz/ plural noun
its profit margin and sales Contribu- factors that can be controlled, e.g. a
tion analysis helps to streamline pro- companys marketing mix Because
duction and marketing. Thorough there were so few controllable variables
contribution analysis led to six products the outcome of the marketing plan was
being dropped from the product range. very uncertain.
controlled 59 co-operation

controlled /kntrld/ adjective the nations largest convenience store chain

has expanded the range of bills it takes
ruled or kept in check payments for to include gas and telephone
controlled circulation /kntrld services [Nikkei Weekly]
s&kjle()n/ noun distribution of a
publication to a specialist readership convenient /knvinint/ adjective
who are members of a particular organi- suitable or handy A bank draft is a
sation or profession (often a free con- convenient way of sending money
trolled circulation, where the magazine abroad. Is 9.30 a convenient time for
is distributed free to key executives, and the meeting?
is paid for by the advertisers) The pro- conversion /knv&()n/ noun the
fessional institute publishes a quarterly action of converting a prospective cus-
magazine with a controlled circulation. tomer into an actual purchaser
The newspaper has a controlled cir-
conversion rate /knv&()n ret/
culation and is suitable for advertise-
noun the proportion of contacts, by
ments for highly specialised products.
mailing, advertising or email marketing,
controlled circulation magazine who actually end up purchasing the
/kntrld s&kjle()n m"- product or service
zin/ noun a magazine which is sent
free to a limited number of readers, and convertible currency /kn-
is paid for by the advertising it contains v&tb()l k rnsi/ noun a currency
which can easily be exchanged for
controlled economy /kntrld another
knmi/ noun an economy where
most business activity is directed by or- cooling-off laws /kul f lz/
ders from the government plural noun US state laws allowing
control question /kntrl cancellation of an order within a spe-
kwestn/ noun a question in a ques- cific period after signing an agreement
Cooling-off laws are making buyers
tionnaire designed to check that answers
are consistent A control question was less hesitant about placing large orders.
included to check that respondents were cooling-off period /kul f
not lying about their age. If control pirid/ noun 1. during an industrial
questions show that answers are not dispute, a period when negotiations
honest, the interview is ended. have to be carried on and no action can
control systems /kntrl be taken by either side 2. a period when
sstmz/ plural noun the systems used a person is allowed to think about some-
to check that a computer system is thing which they have agreed to buy on
working correctly hire purchase and possibly change their
mind New York has a three day cool-
convenience /knvinins/ noun ing-off period for telephone sales. 3. a
at your earliest convenience as soon as
period of ten days during which a per-
you find it possible
son who has signed a life assurance pol-
convenience food /knvinins icy may cancel it
fud/ noun food which is prepared by
the shop before it is sold, so that it needs co-op /k p/ noun same as
only heating to be made ready to eat cooperative
convenience goods /knvinins co-operate /kpret/ verb to
"dz/ plural noun ordinary everyday work together The regional govern-
products that people have to buy but ments are co-operating in the fight
which command little or no brand loy- against piracy. The two firms have
alty Price competition is very fierce in co-operated on the computer project.
the convenience goods market. co-operation /kpre()n/
convenience store /knvinins noun the act of working together The
st/ noun a small store selling food or project was completed ahead of sched-
household goods, open until late at ule with the co-operation of the
night, or even 24 hours per day workforce.
cooperative 60 copy testing

cooperative /kp()rtv/ adjec- copied the company report and took it

tive willing to work together The home. (NOTE: copies- copying-
workforce has not been cooperative copied)
over the managements productivity copy brief /kpi brif/ noun the in-
plan. noun 1. a business run by a structions from an advertiser to a copy-
group of employees who are also the writer explaining the objectives of an
owners and who share the profits The advertising campaign The copy brief
product is marketed by an agricultural made it clear that the advertisements
cooperative. They set up a workers were to be aimed at young people.
cooperative to run the factory. 2. a busi- The advertisers blamed the agency for
ness which organises cooperative mail- not paying enough attention to the copy
ing or advertising for different brief.
copy clearance /kpi klrns/
cooperative advertising /k- noun the passing of an advertisers copy
p()rtv dvtaz/ noun 1. the as neither misleading nor offensive It
sharing by two companies, often a pro- is doubtful the advertisement will get
ducer and a distributor, of advertising copy clearance since it directly dispar-
costs A cooperative advertising ages the competition. The advertise-
agreement means that two companies ment has received copy clearance
can enjoy quantity discounts offered by because all its claims can be substanti-
the media. 2. mailing advertising mate- ated. You will not get copy clearance
rial from different companies in the for this ad because the caption is sure to
same mailing pack offend a lot of women readers.
cooperative marketing /k- copy date /kpi det/ noun the date
p()rtv mkt/ noun an ar- by which an advertisement must be de-
rangement whereby various producers livered to the media concerned The
cooperate in the marketing of their prod- creative teams are working flat out be-
ucts or services Cooperative market- cause the copy date is only one week
ing proved an economic method of away. Lets work on the advertise-
selling for companies with few financial ments with the earliest copy dates.
resources. copy fitting /kpi ft/ noun the
cooperative movement /k- arrangement of advertising text so it fits
p()rtv muvmnt/ noun a move- the space allowed for it
ment that encourages the setting-up of copying machine /kpi min/
cooperative businesses that are jointly noun a machine which makes copies of
owned by their members who share the documents
profits and benefits they gain from trad-
ing amongst themselves (NOTE: The copy platform /kpi pltfm/
movement was founded in Rochdale, noun the main theme of an advertise-
Lancashire in 1844 by 28 weavers ments copy There is no point in dis-
and, in Britain, has launched not only a cussing details until we decide on a
chain of shops, but also manufacturing copy platform.
and wholesale businesses as well as copyright /kpirat/ noun 1. an au-
insurance and financial services.) thors legal right to publish his or her
own work and not to have it copied, last-
co-opetition /kpt()n/ noun ing seventy years after the authors
cooperation between competing
death 2. a similar right protecting logos,
brand names, etc. adjective covered
copier /kp/ noun a machine by the laws of copyright It is illegal to
which makes copies of documents photocopy a copyright work.
(NOTE: also called copying machine, copy testing /kpi test/ noun the
photocopier) act of testing the effectiveness of an ad-
copy /kp/ verb to make a second vertisements copy Copy testing led to
document which is like the first He the copywriter having to rethink the
copywriter 61 corporate hospitality

wording of the message. Copy testing corner shop /kn p/ noun a

will tell us whether or not the advertise- small privately owned general store
ments are offensive to the public in corporate /kp()rt/ adjective re-
general. ferring to a whole company
copywriter /kpirat/ noun a per- the prime rate is the rate at which banks lend
son who writes advertisements to their top corporate borrowers
[Wall Street Journal]
core /k/ noun the central or main part if corporate forecasts are met, sales will
core activity /kr ktvti/ noun exceed $50 million next year
the central activity of a company, which [Citizen (Ottawa)]
is its basic product or service corporate advertising /kp()rt
core business /k bzns/ noun dvtaz/ noun the advertising of an
the most important work that an organi- organisation rather than a product Our
sation does, that it is most expert at, that corporate advertising is designed to
makes it different from other organisa- present us as a caring organisation.
tions, that contributes most to its success No amount of corporate advertising will
and, usually, that it was originally set up ever persuade the consumer that the
to do (NOTE: The concept of core busi- company stands for quality.
ness became prominent in the 1980s corporate brand /kp()rt
when attempts at diversification by brnd/ noun the overall image that a
large companies proved less success- company presents to the outside world,
ful than expected.) or the image of it that exists in the minds
core capability /kr kepblti/ of its customers, its employees and the
noun same as core competence public, that encapsulates what it does
core competence /kr and what it stands for
kmpt()ns/ noun a skill or an area corporate communication
of expertise possessed by an organisa- /kp()rt kmjunke()n/ noun
tion that makes it particularly good at the activities undertaken by an organisa-
doing some things and makes an impor- tion to pass on information both to its
tant contribution to its success by giving own employees and to its existing and
it competitive advantage over other prospective customers and the general
organisations public
core product /k prd kt/ noun 1. corporate culture /kp()rt
the main product which a company k lt/ noun the often unspoken be-
makes or sells 2. a basic product, with- liefs and values that determine the way
out added benefits such as credit terms, an organisation does things, the atmo-
installation service, etc. sphere that exists within it and the way
core values /k vljuz/ plural people who work for it behave (NOTE:
noun 1. the main commercial and moral The culture of an organisation is often
principles that influence the way an or- summed up as the way we do things
ganisation is run and the way it conducts around here.)
its business, and that are supposed to be corporate discount /kp()rt
shared by everyone in the organisation dskant/ noun a reduction in advertis-
from senior management to ordinary ing charges calculated on the basis of
employees (NOTE: Core values are of- the total advertising revenue from all the
ten reflected in an organisations mis- brands of a company
sion statement.) 2. a set of concepts and corporate hospitality /kp()rt
ideals that guide a persons life and help hsptlti/ noun entertainment pro-
him or her to make important decisions vided by an organisation, originally in-
corner /kn/ verb to corner the tended to help salespeople build
market to own most or all of the supply relationships with customers, but now
of a commodity and so control the price increasingly used as an incentive for
The syndicate tried to corner the mar- staff and in team-building and training
ket in silver. exercises for employees
corporate identity 62 cost centre

corporate identity /kp()rt a- gains made by companies, calculated

dentti/ noun the way in which a cor- before dividends are paid. Abbr CT
poration is distinguished from others correlation /krle()n/ noun the
corporate image /kp()rt degree to which there is a relationship
md/ noun an idea which a company between two sets of data Is there any
would like the public to have of it correlation between peoples incomes
corporate name /kp()rt nem/ and the amount they spend on clothing?
noun the name of a large corporation coefficient of correlation, multiple
corporate plan /kp()rt pln/
noun a plan for the future work of a cosmetic /kzmetk/ adjective re-
whole company ferring to the appearance of people or
things Weve made some cosmetic
corporate planning /kp()rt changes to our product line. Pack-
pln/ noun planning the future work aging has both practical as well as cos-
of a whole company metic importance.
corporate portal /kp()rt cost /kst/ noun the amount of money
pt()l/ noun a main website that al- which has to be paid for something
lows access to all the information and What is the cost of a first class ticket to
software applications held by an organi- New York? Computer costs are falling
sation and provides links to information each year. We cannot afford the cost
from outside it (NOTE: A corporate por- of two cars. to cover costs to produce
tal is a development of intranet tech- enough money in sales to pay for the
nology and, ideally, should allow users costs of production The sales revenue
to access groupware, email, and desk- barely covers the costs of advertising or
top applications, and to customise the the advertising costs. to sell at cost to
way information is presented and the sell at a price which is the same as the
way it is used.) cost of manufacture or the wholesale
corporate profits /kp()rt cost verb 1. to have a price How
prfts/ plural noun the profits of a much does the machine cost? This
corporation cloth costs 10 a metre. 2. to cost a
corporate profits for the first quarter showed product to calculate how much money
a 4 per cent drop from last year will be needed to make a product, and so
[Financial Times] work out its selling price
corporate strategy /kp()rt cost, insurance, and freight
strtdi/ noun the plans for future /kst nrns n fret/ noun the
action by a corporation estimate of a price, which includes the
corporate vision /kp()rt cost of the goods, the insurance, and the
v()n/ noun the overall aim or pur- transport charges. Abbr CIF
pose of an organisation that all its busi- cost accountant /kst kantnt/
ness activities are designed to help it noun an accountant who gives managers
achieve (NOTE: An organisations cor- information about their business costs
porate vision is usually summed up in cost accounting /kst kant/
its vision statement.) noun preparing special accounts of
corporation /kpre()n/ noun manufacturing and sales costs
1. a large company 2. US a company cost analysis /kst nlss/
which is incorporated in the United noun calculating in advance what a new
States product will cost
corporation income tax cost-benefit analysis /kst
/kpre()n nk m tks/ noun a benft nlss/ noun comparing the
tax on profits made by incorporated costs and benefits of different possible
companies ways of using available resources
corporation tax /kpre()n cost centre /kst sent/ noun 1. a
tks/ noun a tax on profits and capital person or group whose costs can be
cost-cutting 63 cost-plus pricing

itemised and to which costs can be allo- consumer price index, but includes other
cated in accounts 2. a unit, a process, or items such as the interest on mortgages.
an individual that provides a service
cost of sales /kst v selz/ noun
needed by another part of an organisa-
all the costs of a product sold, including
tion and whose cost is therefore ac-
manufacturing costs and the staff costs
cepted as an overhead of the business
of the production department, before
cost-cutting /kst k t/ noun re- general overheads are calculated
ducing costs We have made three sec-
retaries redundant as part of our cost per acquisition /kst pr
cost-cutting programme. We have kwz()n/ noun the average cost
taken out the second telephone line as a for each acquisition of a new customer
cost-cutting exercise. in response to an advertisement. Abbr
cost driver /kst drav/ noun a
factor that determines how much it costs cost per click-through /kst p
to carry out a particular task or project, klk ru/ noun a method of pricing on-
e.g. the amount of resources needed for line advertising, based on the principle
it, or the activities involved in complet- that the seller gets paid whenever a visi-
ing it tor clicks on an advertisement
cost-effective /kst fektv/ adjec- cost per customer /kst p
tive which gives good value when com- k stm/ noun a measure of
pared with the original cost We find cost-effectiveness based on the cost per
advertising in the Sunday newspapers sale generated
very cost-effective. cost per inquiry /kst pr n-
cost-effectiveness /kst kwari/ noun the average cost for
fektvns/, cost efficiency /kst each inquiry in response to an
f()nsi/ noun being cost-effective advertisement
Can we calculate the cost-effectiveness cost per order /kst pr d/
of air freight against shipping by sea? noun a measure used to determine the
cost factor /kst fkt/ noun the number of orders generated compared to
problem of cost the cost of running the advertisement.
costing /kst/ noun a calculation Abbr CPO
of the manufacturing costs, and so the cost per thousand /kst p
selling price of a product The costings az()nd/, cost per mille /kst p
give us a retail price of $2.95. We ml/ noun the cost of an advertisement,
cannot do the costing until we have de- calculated as the cost for every thousand
tails of all the production expenditure. people reached or the cost of a thousand
costly /kstl/ adjective costing a lot impressions for a website This news-
of money, or costing too much money paper has the highest cost per thousand
Defending the court case was a costly but a very high proportion of its readers
process. The mistakes were fall within our target audience. Abbr
time-consuming and costly. CPT, CPM
cost of entry /kst v entri/ noun cost plus /kst pl s/ noun a system
the cost of going into a market for the of calculating a price, by taking the cost
first time of production of goods or services and
cost-of-living increase /kst v adding a percentage to cover the sup-
lv nkris/ noun an increase in sal- pliers overheads and margin We are
ary to allow it to keep up with the in- charging for the work on a cost plus
creased cost of living basis.
cost-of-living index /kst v cost-plus pricing /kst pl s
lv ndeks/ noun the way of mea- pras/ noun a pricing method that in-
suring the cost of living which is shown volves basing the price on the produc-
as a percentage increase on the figure tion costs and adding a percentage for
for the previous year. It is similar to the margin
cost price 64 course

cost price /kst pras/ noun a sell- for an order that was to have provided 8% of its
workload next year was too late and too
ing price which is the same as the price, expensive [Wall Street Journal]
either the manufacturing price or the
wholesale price, which the seller paid counterpack /kantpk/ noun a
for the item box for the display of goods for sale,
costs /ksts/ plural noun the expenses placed on the counter or on another flat
involved in a court case The judge surface in a shop
awarded costs to the defendant. Costs counter-programming /kant
of the case will be borne by the pr"rm/ noun the presenting of
prosecution. TV programmes that are designed to ap-
cottage industry /ktd ndstr/ peal to the audience of competing
noun the production of goods or some programmes run during at the same time
other type of work, carried out by peo- countersign /kantsan/ verb to
ple working in their own homes sign a document which has already been
counter /kant/ noun a long flat signed by someone else All our
surface in a shop for displaying and sell- cheques have to be countersigned by the
ing goods glove counter the section finance director. The sales director
of a shop where gloves are sold goods countersigns all my orders.
sold over the counter retail sales of counter staff /kant stf/ noun
goods in shops Some drugs are sold sales staff who serve behind counters
over the counter, but others need to be country of origin /k ntri v
recommended by a doctor. under the rdn/ noun a country where a prod-
counter illegally uct is manufactured or where a food
counter- /kant/ prefix against product comes from All produce must
counteradvertising /kantr- be labelled to show the country of
dvtaz/ noun advertising aimed origin.
as a reply to a competitors coupon /kupn/ noun 1. a piece of
advertisements paper used in place of money 2. a piece
counter-argument /kantr of paper which replaces an order form
"jmnt/ noun a response that is op- coupon ad /kupn d/ noun an ad-
posed to the position advocated in an vertisement with a form attached, which
advertising message you cut out and return to the advertiser
counterbid /kantbd/ noun a with your name and address for further
higher bid in reply to a previous bid information
When I bid 20 they put in a counterbid couponed /kupnd/ adjective with
of 25. a coupon attached The agency is using
counter-jumper /kant d mp/ couponed direct response advertising.
noun a person who sells goods over the couponing /kupn/ noun a sell-
counter (informal ) He was a coun-
. ing method using coupons delivered to
ter-jumper for many years before he be- homes, giving special discounts on
came a manager. Five years as a some items
counter-jumper gave her plenty of expe- it employs selective mailings and package
rience of customer relations. inserts such as the couponed offers sent out with
credit card statements [PR Week]
countermand /kantmnd/ verb
to cancel an order course /ks/ noun a series of lessons
counter-offer /kantr f/ noun a or programme of instruction She has
higher or lower offer made in reply to finished her secretarial course. Tthe
another offer Smith Ltd made an offer company has paid for her to attend a
of 1m for the property, and Blacks re- course for trainee sales managers.
plied with a counter-offer of 1.4m. Management trainees all took a
the company set about paring costs and six-month course in business studies.
improving the design of its product. It came up The training officer was constantly on
with a price cut of 14%, but its counter-offer the lookout for new courses in manage-
courtesy 65 creativity

ment studies. The company sent her crash-test /kr test/ verb to estab-
on a management course. lish the safety and reliability of some-
courtesy /k&tsi/ adjective supplied thing by testing it in different ways
free of charge A courtesy sample is creaming /krim/ noun the act of
sent with the sales literature. fixing a high price for a product in order
courtesy car /k&tsi k/ noun the to achieve high short-term profits
use of a car offered free to a customer create /kriet/ verb to make some-
thing new By acquiring small unprof-
cover /k v/ noun 1. coverage, the itable companies he soon created a
proportion of a target audience reached large manufacturing group. The gov-
by advertising 2. one of the outside ernment scheme aims at creating new
pages of a publication. The four cover jobs for young people.
pages are front cover, inside front cover, he insisted that the tax advantages he
inside back cover and back cover. We directed towards small businesses will help
could never afford to advertise on the create jobs and reduce the unemployment rate
cover of this magazine. [Toronto Star]
coverage /k v()rd/ noun the pro- creative adjective /krietv/ relating
portion of a target market that is reached to the conceptual or artistic side of ad-
by an advertisement The advertise- vertising There are three copywriters
ment itself was effective but it had very and four illustrators in the agencys cre-
poor coverage. We must consider ative department. He has had good
both the cost of the advertisement and experience working on both the creative
its coverage before committing our- and the administrative sides of advertis-
selves any further. ing. noun someone who works in the
from a PR point of view it is easier to get conceptual or artistic side of a business
press coverage when you are selling an industry agencies are being called on to produce great
and not a brand [PR Week] creative work and at the same time deliver value
for money [Marketing Week]
cover charge /k v td/ noun
(in restaurants) a charge for a place at creative director /krietv da-
the table in addition to the charge for rekt/ noun an employee of an adver-
food tising agency who is in overall charge of
finding the right words and images to
covered market /k vd mkt/ promote the product during an advertis-
noun a market which is held in a special ing campaign
creative selling /krietv sel/
covering letter /k vr let/, noun a sales technique where the main
covering note /k vr nt/ noun a emphasis is on generating new business
letter sent with documents to say why
they are being sent
creative shop /krietv p/,
creative boutique /krietv bu-
cover note /k v nt/ noun a let- tik/noun a highly specialised business
ter from an insurance company giving offering creative customer advertising
details of an insurance policy and con- services A group of copywriters and
firming that the policy exists designers have left the agency to set
cover page /k v ped/ noun the their own creative shop. The creative
front or back cover of a publication shop made short advertising films and
designed some press ads for us.
cover price /k v pras/ noun the
price of a newspaper or magazine which creative strategy /krietv
is printed on the cover and paid by the strtdi/ noun a strategy to deter-
final purchaser mine what message an advertisement
will communicate
CPA abbr cost per acquisition
creative thinking /krietv k/
CPM abbr cost per mille noun same as creativity
CPO abbr cost per order creativity /krietvti/ noun the
CPT abbr cost per thousand ability to generate new ideas, especially
credere 66 creditor

by taking a fresh and imaginative ap- creditworthiness of customers to show

proach to old problems or existing pro- whether they should be allowed credit
cedures (NOTE: Creativity is considered credit bank /kredt bk/ noun a
important not just in the development bank which lends money
of new products and services, but also
credit card /kredt kd/ noun a
in organisational decision-making and
plastic card which allows you to borrow
problem-solving, and many organisa-
money and to buy goods without paying
tions try to encourage it through their
for them immediately (you pay the
corporate culture and by using tech-
credit card company at a later date)
niques such as brainstorming and lat-
eral thinking.) credit card sale /kredt kd sel/
noun the act of selling something for
credere /kredri/ noun del credit, using a credit card
credere agent
credit column /kredt klm/
credibility /kredblti/ noun the noun the right-hand column in accounts
state of being trusted showing money received
credibility gap /kredblti "p/ credit control /kredt kntrl/
noun a discrepancy between claims for noun a check that customers pay on
a product made by the manufacturer and time and do not owe more than their
acceptance of these claims by the target credit limit
audience The credibility gap that we credit entry /kredt entri/ noun an
face is partly due to our products bad entry on the credit side of an account
performance record. source
credit facilities /kredt fsltiz/
plural noun an arrangement with a bank
credit /kredt/ noun 1. the period of or supplier to have credit so as to buy
time allowed before a customer has to goods
pay a debt incurred for goods or services credit freeze /kredt friz/ noun a
to give someone six months credit period when lending by banks is re-
to sell on good credit terms to open a stricted by the government
line of credit or a credit line to make
credit available to someone on credit credit history /kredt hst()ri/
without paying immediately to live on noun a record of how a potential bor-
credit We buy everything on sixty rower has repaid his or her previous
days credit. The company exists on debts
credit from its suppliers. 2. an amount credit limit /kredt lmt/ noun the
entered in accounts to show a decrease largest amount of money which a cus-
in assets or expenses or an increase in li- tomer can borrow
abilities, revenue or capital. In accounts, credit memorandum /kredt
credits are entered in the right-hand col- memrndm/, credit memo /-
umn. to enter 100 to someones kredt mem/ noun US a note show-
credit to pay in 100 to the credit of ing that money is owed to a customer
Mr Smith Compare debit account in When the buyer paid too much money
credit an account where the credits are for the goods he was immediately sent a
higher than the debits 3. money set credit memorandum. I hope we re-
against a clients account because an ad- ceive a credit memo from the suppliers
vertisement was not run at the correct for the money they owe us.
time credit note /kredt nt/ noun a
credit account /kredt kant/ note showing that money is owed to a
noun an account which a customer has customer The company sent the
with a shop which allows them to buy wrong order and so had to issue a credit
goods and pay for them later note. Abbr C/N
credit agency /kredt ednsi/ creditor /kredt/ noun a person or
noun a company which reports on the company that is owed money, i.e. a
companys creditors are its liabilities
creditors meeting 67 cross-selling

creditors meeting /kredtz critical mass /krtk()l ms/

mit/ noun a meeting of all the peo- noun the point at which an organisation
ple to whom an insolvent company or a project is generating enough in-
owes money, to decide how to obtain come or has gained a large enough mar-
the money owed ket share to be able to survive on its own
credit rating agency /kredt or to be worth investing more money or
ret ednsi/ noun US a company resources in
used by businesses and banks to assess critical path analysis /krtk()l
the creditworthiness of people p nlss/ noun 1. analysis of the
credit-reference agency /kredt way a project is organised in terms of
ref()rens ednsi/ noun a company the minimum time it will take to com-
used by businesses and banks to assess plete, calculating which parts can be de-
the creditworthiness of people layed without holding up the rest of the
credits /kredts/ plural noun a list of project 2. same as critical-path
the names of people who have worked method
on a film, TV programme, etc. critical-path method /krtk()l
credit sale /kredt sel/ noun a sale p med/ noun a technique used in
where the purchaser will pay for the project management to identify the ac-
goods bought at a later date tivities within a project that are critical
to its success, usually by showing on a
credit scoring /kredt skr/ diagram or flow chart the order in which
noun a calculation made when assessing activities must be carried out so that the
the creditworthiness of someone or project can be completed in the shortest
something time and at the least cost
credit side /kredt sad/ noun the
right-hand column of accounts showing CRM abbr customer relations manage-
money received ment or customer relationship
credit system /kredt sstm/
noun the system that governs the way cross /krs/ verb 1. to go across
that loans are made to people and or- Concorde only takes three hours to
ganisations, especially the regulations cross the Atlantic. To get to the bank,
that relate to loans and to organisations you turn left and cross the street at the
that provide loans post office. 2. to cross a cheque to
write two lines across a cheque to show
credit union /kredt junjn/ noun that it has to be paid into a bank
a group of people who pay in regular de-
posits or subscriptions which earn inter- crossed cheque /krst tek/ noun
est and are used to make loans to other a cheque with two lines across it show-
members of the group ing that it can only be deposited at a
creditworthiness /kredt- bank and not exchanged for cash
w&ins/ noun the ability of a cus- cross elasticity of demand /krs
tomer to pay for goods bought on credit lststi v dmnd/ noun changes
creditworthy /kredtw&i/ adjec- in demand for an item depending on the
tive having enough money to be able to selling price of a competing product
buy goods on credit We will do some cross-media advertising /krs
checks on her to see if she is midi dvtaz/ noun advertising
creditworthy. the same product or service in several
crisis /krass/ noun a serious situa- different types of media which are of-
tion where decisions have to be taken fered by a single-company media
rapidly provider
crisis management /krass cross-selling /krs sel/ noun 1.
mndmnt/ noun management of a selling two products which go with each
business or a countrys economy during other, by placing them side by side in a
a period of crisis store 2. selling a new product which
cross-tracks 68 curriculum vitae

goes with another product a customer crude oil output plunged during the past
has already bought month and is likely to remain at its current level
for the near future [Wall Street Journal]
cross-tracks /krs trks/ noun a current account /k rnt kant/
poster site next to a railway track noun 1. an account in an bank from
CTM noun click-through rate which the customer can withdraw
CTR abbr click through rate money when they want. Current ac-
counts do not always pay interest. to
cume /kjum/ noun same as cumula- pay money into a current account
tive audience (informal ) .
(NOTE: American English is checking
cumulative /kjumjltv/ adjec- account) 2. an account of the balance
tive added to regularly over a period of of payments of a country relating to the
time sale or purchase of raw materials, goods
cumulative audience /- and invisibles
kjumjltv dins/, cumulative customers current deposit and current
reach /kjumjltv rit/ noun the accounts also rose to $655.31 million at the end
of December [Hongkong Standard]
number of people reached by an adver-
a surplus in the current account is of such
tisement at least once over a period of vital importance to economists and currency
time traders because the more Japanese goods that
cumulative interest /kjumjltv are exported, the more dollars overseas
customers have to pay for these products. That
ntrst/ noun the interest which is pushes up the value of the yen [Nikkei Weekly]
added to the capital each year
current assets /k rnt sets/ plu-
cumulative quantity discount ral noun the assets used by a company
/kjumjltv kwntti dskant/ in its ordinary work, e.g. materials, fin-
noun a discount based on a quantity ished goods, cash, monies due, and
bought or the value of purchases over a which are held for a short time only
period of time We have purchased
only from these suppliers over the last current cost accounting /k rnt
few months in order to enjoy a cumula- kst kant/ noun a method of ac-
tive quantity discount. counting which notes the cost of replac-
ing assets at current prices, rather than
cumulative reach /kjumjltv valuing assets at their original cost.
rit/ noun same as cumulative Abbr CCA
current liabilities /k rnt
currency /k rns/ noun money in labltiz/ plural noun the debts which
coins and notes which is used in a par- a company has to pay within the next
ticular country accounting period. In a companys an-
todays wide daily variations in exchange nual accounts, these would be debts
rates show the instability of a system based on a
single currency, namely the dollar [Economist] which must be paid within the year and
are usually payments for goods or ser-
the level of currency in circulation increased
to N4.9 billion in the month of August vices received.
[Business Times (Lagos)] current price /k rnt pras/ noun
currency backing /k rnsi todays price
bk/ noun gold or government secu- current rate of exchange /k rnt
rities which maintain the strength of a ret v kstend/ noun todays rate
currency of exchange
currency note /k rnsi nt/ noun current yield /k rnt jild/ noun a
a bank note (NOTE: currency has no dividend calculated as a percentage of
plural when it refers to the money of the current price of a share on the stock
one country: he was arrested trying market
to take currency out of the country) curriculum vitae /krkjlm
current /k rnt/ adjective referring vita/ noun a summary of a persons
to the present time the current round work experience and qualifications sent
of wage negotiations to a prospective employer by someone
curve 69 customer service

applying for a job Candidates should she needs from it and expects it to do
send a letter of application with a cur- (NOTE: Customer expectation can be
riculum vitae to the HR manager. The created by previous experience, adver-
curriculum vitae listed all the candi- tising, what other people say about it,
dates previous jobs and her reasons for awareness of competitors products,
leaving them. Abbr CV (NOTE: the plural and brand image. If customer expecta-
is curriculums or curricula vitae. tions are met, then customer satisfac-
American English is rsum) tion results.)
curve /k&v/ noun a line which is not customer flow /k stm fl/
straight, e.g. a line on a graph The noun the number of customers in a store
graph shows an upward curve. and the pattern of their movements
custom /k stm/ noun 1. the use of a round the store
shop by regular shoppers to lose customer focus /k stm fks/
someones custom to do something noun the aiming of all marketing opera-
which makes a regular customer go to tions towards the customer
another shop 2. the customs of the customer loyalty /k stm
trade the general way of working in a llti/ noun the feeling of customers
trade It is the custom of the book trade who always shop at the same shop
to allow unlimited returns for credit. a difficult market to get into, China
custom-built /k stm blt/ adjec- nevertheless offers a high degree of customer
loyalty once successfully entered [Economist]
tive made specially for one customer
He drives a custom-built Rolls Royce. customer profile /k stm
customer /k stm/ noun a person prfal/ noun a description of an av-
or company that buys goods The shop erage customer for a product or service
The customer profile shows our aver-
was full of customers. Can you serve
this customer first please? Shes a age buyer to be male, aged 2530, and
regular customer of ours. (NOTE: The employed in the service industries.
customer may not be the consumer or customer profitability /k stm
end user of the product.) prftblti/ noun the amount of
unless advertising and promotion is done in profit generated by each individual cus-
the context of an overall customer orientation, it tomer. Usually a small percentage of
cannot seriously be thought of as marketing customers generate the most profit.
[Quarterly Review of Marketing]
customer relations /k stm r-
customer appeal /k stmr pil/ le()nz/ plural noun relations be-
noun what attracts customers to a tween a company and its customers
customer relations manage-
customer capital /k stm ment /k stm rle()nz
kpt()l/ noun an organisations rela- mndmnt/, customer relation-
tionships with its customers considered ship management /k stm r-
as a business asset le()np mndmnt/ noun the
customer care /k stm ke/ management of relations between a
noun looking after customers, so that company and its customers, keeping
they do not become dissatisfied them informed of new products or ser-
customer-centric model vices and dealing sympathetically with
/k stm sentrk md()l/ noun a their complaints or inquiries. Abbr CRM
business model that is based on an as- customer retention /k stm r-
sessment of what the customer needs tenn/ noun same as retention
customer complaint /k stm customer satisfaction /k stm
kmplent/ noun same as complaint stsfkn/ noun the act of making
customer expectation /k stmr customers pleased with what they have
ekspekte()n/ noun the ideas and bought
feelings that a customer has about a customer service /k stm
product or service, based on what he or s&vs/ noun a service given to custom-
customer service department 70 cybermarketing

ers once they have made their decision customs declaration /k stmz
to buy, including delivery, after-sales deklre()n/ noun a statement show-
service, installation, training, etc. ing goods being imported on which duty
will have to be paid to fill in a cus-
customer service department toms declaration form
/k stm s&vs dptmnt/ noun
a department which deals with custom- customs entry point /k stmz
ers and their complaints and orders entri pnt/ noun a place at a border
between two countries where goods are
customisation /k stma- declared to customs
ze()n/, customization noun the
customs invoice /k stmz
process of making changes to products
nvs/ noun a customs form contain-
or services that enable them to satisfy
ing a list of goods with their values in
the particular needs of individual
both the exporters and importers
customise /k stmaz/, customize customs seal /k stmz sil/ noun a
verb to change something to fit the spe- seal attached by a customs officer to a
cial needs of a customer We use cus- box, to show that the contents have not
tomized computer terminals. passed through customs
customised service /k stmazd customs tariff /k stmz trf/
s&vs/ noun a service that is specifi- noun a list of taxes to be paid on im-
cally designed to satisfy the particular ported goods
needs of an individual customer customs warehouse /k stmz
custom publisher /k stm wehas/ noun a government-run
p bl/ noun a company which cre- warehouse where goods are stored until
ates a magazine for a company to use as duty is paid The goods will remain in
publicity the customs warehouse until the buyer
customs /k stmz/ plural noun the claims them.
government department which organises cut-off /k t f/ noun the time after
the collection of taxes on imports, or an which a spot cannot be broadcast, usu-
office of this department at a port or air- ally late at night
port He was stopped by customs. cut-price /k t pras/ adjective
Her car was searched by customs. to cheaper than usual
go through customs to pass through the cut-price store /k t pras st/
area of a port or airport where customs noun a store selling cut-price goods
officials examine goods to take some-
thing through customs to carry some- cut-throat competition /k t rt
thing illegal through a customs area kmpt()n/ noun sharp competition
without declaring it the crates had to which cuts prices and offers high
go through a customs examination the discounts
crates had to be examined by customs cutting /k t/ noun a piece cut out
officials of a publication which refers to an item
of particular interest
customs broker /k stmz
brk/ noun a person or company that cutting-edge /k t ed/ adjective
takes goods through customs for a ship- using or involving the latest and most
ping company advanced techniques and technologies
customs clearance /k stmz CV abbr curriculum vitae Please ap-
ply in writing, enclosing a current CV.
klrns/ noun 1. the act of passing
goods through customs so that they can cyber mall /sabmll/ noun a
enter or leave the country 2. a document website that provides information and
given by customs to a shipper to show links for a number of online businesses
that customs duty has been paid and the cybermarketing /sabmkt/
goods can be shipped to wait for cus- noun marketing that uses any kind of
toms clearance Internet-based promotion, e.g. targeted
cycle 71 cyclical factors

emails, bulletin boards, websites, or were used in the case study to show re-
sites from which the customer can cent developments in retailing.
download files cyclical /sklk()l/ adjective which
cycle /sak()l/ noun a set of events happens in cycles
which happen in a regularly repeated general retailers should in theory suffer from
sequence rising interest rates. And food retailers in
particular have cyclical exposure without price
cycle models /sak()l m d()lz/ power [Investors Chronicle]
plural noun models which are used to cyclical factors /sklk()l fktz/
explain cyclical change Cycle models plural noun the way in which a trade cy-
cle affects businesses
DAGMAR 72 date coding

DAGMAR /d"m/ noun a model database publishing /detbes

showing stages in the effect of advertis- p bl/ noun the publishing of infor-
ing on a consumer, e.g. awareness, com- mation selected from a database, either
prehension, conviction and action. Full on-line where the user pays for it on a
form defining advertising goals for per-page inspection basis or as a
measured advertising results CD-ROM
DAR abbr day after recall test data capture /det kpt/, data
entry /det entri/ noun the act of
data /det/ noun information avail- putting information onto a computer by
able on computer, e.g. letters or figures keyboarding or by scanning
All important data on employees was
fed into the computer. To calculate data cleansing /det klenz/,
the weekly wages, you need data on data cleaning /det klin/ noun
hours worked and rates of pay. data checking data to make sure it is correct
bank or bank of data a store of infor- data mining /det man/ noun
mation in a computer the use of advanced software to search
data acquisition /det kw- online databases and identify statistical
z()n/ noun gathering information patterns or relationships in the data that
about a subject may be commercially useful
database /detbes/ noun a set of data protection /det prtekn/
noun making sure that computerised in-
data stored in an organised way in a
formation about people is not misused
computer system We can extract the
lists of potential customers from our data sheet /det it/ noun a leaflet
database. with data or information about a product
database cleaning /detbes data warehouse /det wehas/
klin/, database cleansing noun a large collection data that is col-
/detbes klenz/ noun checking lected over a period of time from differ-
the details of a database to make sure ent sources and stored on a computer in
they are correct a standard format so that is easy to re-
trieve. It can be used, e.g., to support
database management system managerial decision-making. (NOTE: Or-
/detbes mndmnt sstm/ ganisations often use data ware-
noun a computer program that is spe- houses for marketing purposes, for
cially designed to organise and process example, in order to store and analyse
the information contained in a database customer information.)
database marketing /detbes date /det/ noun the number of day,
mkt/ noun using a database to month and year I have received your
market a product or service by building letter of yesterdays date. date of re-
up a relationship with customers ceipt the date when something is
database modelling /detbes received
md()l/ noun using the information date coding /det kd/ noun the
from a database to create a website or to act of showing the date by which a prod-
forecast trends in a market uct should be consumed
date-in-charge 73 deaveraging

date-in-charge /det n td/ sales director set up a deal with a

noun the date from which a poster site is Russian bank. The deal will be signed
charged We will have three weeks of tomorrow. They did a deal with an
exposure from the date-in-charge. American airline. to call off a deal to
day /de/ noun a period of 24 hours stop an agreement When the chairman
There are thirty days in June. The first heard about the deal he called it off.
day of the month is a public holiday. verb 1. to deal with something to or-
days of grace the days allowed for pay- ganise something Leave it to the filing
ment after it becomes due Lets send clerk hell deal with it. to deal with
the cheque at once since we have only an order to work to supply an order 2.
five days of grace left. Because the to buy and sell to deal with someone
shopowner has so little cash available, to do business with someone to deal
we will have to allow him additional in leather or options to buy and sell
days of grace. leather or options he deals on the
Stock Exchange his work involves buy-
day after recall test /de ft ing and selling shares on the Stock Ex-
rikl test/ noun an advertising re- change for clients
search test to see how much someone
can remember of an advertisement, the dealer /dil/ noun a person who buys
day after it appeared or was broadcast. and sells a used-car dealer
Abbr DAR dealer aids /dil edz/ plural noun
daypart /dept/ noun a section of a types of advertising material used by
day, used for measuring audience rat- shops to stimulate sales
ings on TV dealers brand /dilz brnd/ noun
DBS abbr direct broadcast by satellite a brand owned by a distributor rather by
dead /ded/ adjective not working a producer I bought the dealers
the line went dead the telephone line brand of soap since the store is well
suddenly stopped working known for its high quality goods.
dead account /ded kant/ noun dealership /dilp/ noun 1. the au-
an account which is no longer used thority to sell some products or services
dead freight /ded fret/ noun pay- 2. a business run by an authorised dealer
ment by a charterer for unfilled space in dealer tie-in /dil ta n/ noun ad-
a ship or plane Too much dead freight vertising which includes the names of
is making it impossible for the company local dealers that stock the product be-
to continue to charter ships. ing advertised
deadline /dedlan/ noun the date by deal in /dil n/ noun sales promotion
which something has to be done to to the trade
meet a deadline to finish something in deal out /dil at/ noun sales promo-
time to miss a deadline to finish tion to consumers
something later than it was planned
Weve missed our October 1st deadline. dear money /d m ni/ noun
money which has to be borrowed at a
dead loss /ded ls/ noun a total loss high interest rate, and so restricts expen-
The car was written off as a dead loss. diture by companies
dead season /ded siz()n/ noun death duty /de djuti/, death tax
the time of year when there are few /de tks/ noun US a tax paid on the
tourists about property left by a dead person (NOTE:
deadweight /dedwet/ noun heavy the British equivalent is inheritance
goods, e.g. coal, iron or sand tax)
deadweight cargo /dedwet deaveraging /div()rd/ noun
k"/ noun a heavy cargo which is the act of treating customers in different
charged by weight, not by volume ways according to the amount they buy,
deal /dil/ noun a business agreement, by rewarding the best and penalising the
affair or contract to sign a deal The worst
debit 74 decision-making unit

debit /debt/ noun an amount entered debtor /det/ noun a person who
in accounts which shows an increase in owes money
assets or expenses or a decrease in lia- the United States is now a debtor nation for
bilities, revenue or capital. In accounts, the first time since 1914, owing more to
debits are entered in the left-hand col- foreigners than it is owed itself [Economist]
umn. Compare credit verb to debit debtor side /det sad/ noun the
an account to charge an account with a debit side of an account
cost His account was debited with the decentralise /disentrlaz/, de-
sum of 25. centralize verb to move power or au-
debitable /debtb()l/ adjective thority or action from a central point to
which can be debited local areas
debit card /debt kd/ noun a plas- decentralised system /di-
tic card, similar to a credit card, but sentrlazd sstm/noun a system
which debits the holders account im- where responsibility for marketing, ad-
mediately through an EPOS system vertising, and promotion lies with a
product manager rather than a central-
debit column /debt klm/ noun ised department
the left-hand column in accounts show-
ing the money paid or owed to others deception /dsepn/ noun telling a
lie in order to mislead a customer
debit entry /debt entri/ noun an
entry on the debit side of an account decide /dsad/ verb to make up your
mind to do something to decide on a
debit note /debt nt/ noun a note course of action to decide to appoint a
showing that a customer owes money new managing director
We undercharged Mr Smith and had to
send him a debit note for the extra decider /dsad/ noun a person who
amount. makes decisions, especially the person
who makes the decision to buy
debits and credits /debts n
kredts/ plural noun money which a deciding factor /dsad fkt/
company owes and money it receives, noun the most important factor which
figures which are entered in the ac- influences a decision A deciding fac-
counts to record increases or decreases tor in marketing our range of sports
in assets, expenses, liabilities, revenue goods in the country was the rising stan-
or capital dard of living there.
decimal system /desm()l
debt /det/ noun money owed for goods
or services The company stopped sstm/ noun a system of mathematics
trading with debts of over 1 million. based on the number 10
to be in debt to owe money he is in decision /ds()n/ noun a choice
debt to the tune of 250,000 he owes made after thinking about what to do
250,000 to get into debt to start to It took the committee some time to come
borrow more money than you can pay to a decision or to reach a decision.
back the company is out of debt the decision-maker /ds()n mek/
company does not owe money any more noun a person who takes decisions.
to pay back a debt to pay all the marketmaker
money owed to pay off a debt to fin- decision-making /ds()n
ish paying money owed to service a mek/ noun the act of coming to a
debt to pay interest on a debt The decision
company is having problems in servic-
ing its debts. debts due money owed decision-making unit /ds()n
which is due for repayment mek junt/ noun a group of people
who decide on the purchase of a prod-
debt collection /det klek()n/ uct. For the purchase of a new piece of
noun collecting money which is owed equipment, they would be the manager,
debt collector /det klekt/ noun a the financial controller and the operator
person who collects debts who will use the equipment. Abbr DMU
decision theory 75 deflation

decision theory /ds()n ri/ defensive spending /dfensv

noun the mathematical methods for spend/ noun a budget strategy that
weighing the various factors in making promotes areas where sales are currently
decisions In practice it is difficult to strong rather than potential areas where
apply decision theory to our planning. sales could be made
Students study decision theory to help defer /df&/ verb to put back to a later
them suggest strategies in case-studies. date, or to postpone We will have to
decision tree /ds()n tri/ noun a defer payment until January. The de-
model for decision-making, showing the cision has been deferred until the next
possible outcomes of different decisions meeting. (NOTE: deferring deferred)
This computer programme incorpo- deferment /df&mnt/ noun the act
rates a decision tree. of leaving until a later date deferment
deck /dek/ noun a flat floor in a ship of payment deferment of a decision
deck cargo /dek k"/ noun the deferred /df&d/ adjective put back
cargo carried on the open top deck of a to a later date
ship deferred creditor /df&d kredt/
decline /dklan/ noun 1. a gradual noun a person who is owed money by a
fall the decline in the value of the dol- bankrupt but who is paid only after all
lar a decline in buying power The other creditors
last year has seen a decline in real deferred payment /df&d
wages. 2. the final stage in the life cycle pemnt/ noun 1. money paid later
of a product when the sales and profit- than the agreed date 2. payment for
ability are falling off and the product is goods by instalments over a long period
no longer worth investing in verb to deferred rebate /df&d ribet/
fall slowly or decrease Shares de- noun a discount given to a customer
clined in a weak market. New job ap- who buys up to a specified quantity over
plications have declined over the last a specified period
year. The economy declined during
the last government. deferred stock /df&d stk/ noun
shares which receive a dividend after all
Saudi oil production has declined by three
quarters to around 2.5m barrels a day
other dividends have been paid
[Economist] deficit /defst/ noun the amount by
this gives an average monthly decline of 2.15 which spending is higher than income
per cent during the period the accounts show a deficit the ac-
[Business Times (Lagos)] counts show a loss to make good a
share prices disclosed a weak tendency right deficit to put money into an account to
from the onset of business and declined further, balance it
showing losses over a broad front [The Hindu]
deficit financing /defst
decode /dikd/ verb to translate fanns/ noun planning by a gov-
and interpret a coded message ernment to cover the shortfall between
deduplication /didjuplke()n/ tax income and expenditure by borrow-
noun removing duplicate entries from a ing money
database deflate /diflet/ verb to deflate the
deep-rooted demand /dip rutd economy to reduce activity in the econ-
dmnd/ noun brand loyalty which omy by cutting the supply of money
survives even if the product no longer deflation /difle()n/ noun a gen-
offers value for money There is eral reduction in economic activity as a
deep-rooted demand for this product result of a reduced supply of money and
which is a household name. credit, leading to lower prices The oil
de facto standard /de fkt crisis resulted in worldwide deflation.
the reluctance of people to spend is one of
stndd/ noun a standard set in a par- the main reasons behind 26 consecutive months
ticular market by a highly successful of price deflation, a key economic ill that has led
product or service to price wars, depressed the profit margins of
deflationary 76 delphi method

state enterprises and hit incomes among the a price which includes transport costs
rural population [Financial Times] goods delivered on board goods trans-
deflationary /difle()n()ri/ ad- ported free to the ship or plane but not to
jective which can cause deflation The the customers warehouse
government has introduced some defla-
tionary measures in the budget. delivered price /dlvd pras/
the strong dollars deflationary impact on
noun a price which includes packing
European economies as national governments and transport
push up interest rates [Duns Business Month] delivery /dlv()ri/ noun 1. the
delay /dle/ noun the time when transporting of goods to a customer
someone or something is later than allow 28 days for delivery delivery is
planned There was a delay of thirty not allowed for or is not included par-
minutes before the AGM started or the cels awaiting delivery free delivery or
AGM started after a thirty-minute delay. delivery free a delivery date deliv-
We are sorry for the delay in supply- ery within 28 days We have a pallet of
ing your order or in replying to your let- parcels awaiting delivery. to take de-
ter. verb to be late, or to make livery of goods to accept goods when
someone late The company has de- they are delivered We took delivery of
layed payment of all invoices. She was the stock into our warehouse on the
delayed because her taxi was involved 25th. 2. goods being delivered We
in an accident. take in three deliveries a day. There
delayed response /dled r- were four items missing in the last deliv-
spns/ noun a slower than expected re- ery. 3. the transfer of a bill of exchange
sponse by consumers to a companys delivery note /dlv()ri nt/ noun
promotion If there is a delayed re- a list of goods being delivered, given to
sponse we will only reap the benefits the customer with the goods
next year. A delayed response is not
delivery of goods /dlv()ri v
usual in such a new product.
"dz/ noun the transport of goods to a
del credere agent /del kredr customers address
ednt/ noun an agent who receives a
high commission because they guaran- delivery order /dlv()ri d/
tee payment by customers noun the instructions given by the cus-
tomer to the person holding her goods,
delegation /del"e()n/ noun 1. a to tell her where and when to deliver
group of delegates A Chinese trade them
delegation is visiting the UK. The
management met a union delegation. 2. delivery receipt /dlv()ri rsit/
an act of passing authority or responsi- noun a delivery note when it has been
bility to someone else signed by the person receiving the
delete /dlit/ verb to remove a prod-
uct from a companys product range delivery service /dlv()ri s&vs/
We have decided to delete three old noun the store will deliver goods to all
products as the new ones are coming on parts of the town
stream. delivery time /dlv()ri tam/ noun
deletion /dli()n/ noun the act of the number of days before something
removing an old product from the mar- will be delivered
ket The product has lost market share delivery van /dlv()ri vn/ noun a
and is a candidate for deletion. van for delivering goods to customers
delight factor /dlat fkt/ noun delphi method /delfa med/
the customers pleasure at making a noun a method of forming strategies by
purchase soliciting individual estimates on the
deliver /dlv/ verb to transport time-scale of projected developments
goods to a customer goods delivered and then inviting further estimates on
free or free delivered goods goods the basis of all those already made until
transported to the customers address at a consensus is reached
demand 77 demonstration model

demand /dmnd/ noun 1. asking demand theory /dmnd ri/

for payment payable on demand noun a branch of economics concerned
which must be paid when payment is with consumer buying habits and factors
asked for 2. the requirement by a pro- which determine demand
spective purchaser for a commodity demarketing /dimkt/ noun the
There was an active demand for oil act of attempting to reduce the demand
shares on the stock market. there is for a product Demarketing was the
not much demand for this item not keynote in the industry when rationing
many people want to buy it this book was introduced.
is in great demand or there is a great
demand for this book many people demographic /dem"rfk/ adjec-
want to buy it to meet/fill a demand tive referring to demography A full
to supply what is needed The factory demographic study of the country must
had to increase production to meet the be done before we decide how to export
extra demand. The factory had to cut there.
production when demand slackened. demographic edition /dem-
The office cleaning company cannot "rfk d()n/ noun a special edi-
keep up with the demand for its services. tion of a magazine targeted at a specific
verb to ask for something and expect demographic group
to get it She demanded a refund.
The suppliers are demanding immediate demographics /dem"rfks/ plu-
payment of their outstanding invoices. ral noun the details of the population of
The shop stewards demanded an urgent a country, in particular its age and gen-
meeting with the managing director. der, which affect marketing
spot prices are now relatively stable in the demographic segmentation
run-up to the winters peak demand
/dem"rfk se"mente()n/ noun
the demand for the companys products
the act of dividing a market up into seg-
remained strong throughout the first six months ments according to the age, sex, income
of the year with production and sales showing levels, etc. of the potential customers
significant increases [Business Times (Lagos)]
demography /dm"rfi/ noun a
growth in demand is still coming from the
private rather than the public sector study of populations and population sta-
[Lloyds List] tistics such as age, sex, income and
demand bill /dmnd bl/ noun a education
bill of exchange which must be paid demonstrate /demnstret/ verb
when payment is asked for to show how something works He
demand deposit /dmnd d- was demonstrating a new tractor
pzt/ noun US money in a deposit ac- when he was killed. The managers
count which can be taken out when you saw the new stock-control system being
want it by writing a cheque demonstrated.
demand forecasting /dmnd demonstration /demnstre()n/
fkst/ noun estimating what de- noun an act of showing or explaining
mand would exist at various prices, used how something works We went to a
as a method of calculating prices demonstration of new laser equipment.
demand-led inflation /dmnd demonstration effect /demn-
led nfle()n/ noun inflation caused stre()n fekt/ noun the theory stat-
by rising demand which cannot be met ing that people buy products to impress
demand price /dmnd pras/ or keep up with their neighbours The
noun the price at which a quantity of promotion of luxury goods is intended to
goods will be bought exploit the demonstration effect.
demand schedule /dmnd demonstration model /demn-
edul/ noun a table showing demand stre()n md()l/ noun a piece of
for a product or service at different equipment used in demonstrations and
prices later sold off cheaply
demonstrator 78 depression

demonstrator /demnstret/ noun transport a goods depot an oil stor-

1. a person who demonstrates pieces of age depot a freight depot a bus
equipment 2. same as demonstration depot
model depreciate /dpriiet/ verb 1. to re-
demurrage /dm rd/ noun money duce the value of assets in accounts
paid to a customer when a shipment is We depreciate our company cars over
delayed at a port or by customs three years. 2. to lose value a share
department /dptmnt/ noun 1. a which has depreciated by 10% over the
specialised section of a large organisa- year The pound has depreciated by
tion Trainee managers work for a 5% against the dollar.
while in each department to get an idea this involved reinvesting funds on items
which could be depreciated against income for
of the organisation as a whole. 2. a sec- three years [Australian Financial Review]
tion of a large store selling one type of buildings are depreciated at two per cent per
product You will find beds in the fur- annum on the estimated cost of construction
niture department. [Hongkong Standard]
departmental manager the euros downward drift sparked alarmed
reactions from the European Central Bank
/diptment()l mnd/ noun the which has seen the new currency depreciate by
manager of a department almost 15% since its launch [Times]
departmental system noun a way COMMENT: Various methods of depreci-
of organising an advertising agency into ating assets are used, such as the
departments such as creative, media, ad- straight line method, where the asset is
ministration, etc. depreciated at a constant percentage of
depend /dpend/ verb 1. to depend its cost each year and the reducing bal-
ance method, where the asset is depreci-
on to need someone or something to ex-
ated at a constant percentage which is
ist The company depends on efficient applied to the cost of the asset after each
service from its suppliers. We depend of the previous years depreciation has
on government grants to pay the salary been deducted.
bill. 2. to happen because of something
The success of the launch will depend
depreciation /dpriie()n/ noun
on the publicity campaign. depending 1. a reduction in value of an asset 2. a
on which varies according to something loss of value a share which has shown
Depending on the advertising budget,
a depreciation of 10% over the year
the new product will be launched on ra- the depreciation of the pound against
dio or on TV. the dollar
dependent /dpendnt/ adjective depreciation rate /dpriie()n
supported financially by someone else ret/ noun the rate at which an asset is
employees may be granted leave to care depreciated each year in the company
for dependent relatives accounts
dependent variable /dpendnt depress /dpres/ verb to reduce
verib()l/ noun a variable or factor Reducing the money supply has the ef-
which changes as a result of a change in fect of depressing demand for consumer
another (the independent variable) goods.
We are trying to understand the effects depressed /dprest/ adjective feel-
of several independent variables on one ing miserable and worried She was
dependent variable, in this case, sales. depressed when she was not promoted.
deposit /dpzt/ noun money given depressed area /dprest eri/
in advance so that the thing which you noun a part of a country suffering from
want to buy will not be sold to someone depression
else to pay a deposit on a watch to depressed market /dprest
leave 10 as deposit mkt/ noun a market where there are
depot /dep/ noun a central ware- more goods than customers
house or storage area for goods, or a depression /dpre()n/ noun a pe-
place for keeping vehicles used for riod of economic crisis with high unem-
depth 79 desire to purchase

ployment and loss of trade an design audit /dzan dt/ noun

economic depression The country en- the checking and evaluating of design,
tered a period of economic depression. especially in advertising materials or on
depth /dep/ noun the variety in a a website
product line design consultancy /dzan kn-
depth interview /dep ntvju/ s ltnsi/ noun a firm which gives spe-
noun an interview with no preset ques- cialist advice on design
tions and following no fixed pattern, but design department /dzan d-
which can last a long time and allows ptmnt/ noun the department in a
the respondent time to express personal large company which designs the com-
views and tastes Depth interviews panys products or its advertising
elicited some very original points of designer /dzan/ noun a person
view. who designs She is the designer of the
deregulation /dire"jle()n/ new computer. adjective expensive
noun the reduction of government con- and fashionable designer jeans
trol over an industry the deregulation
designer product /dzan
of the airlines
after the slump in receipts last year that
prd kt/ noun a fashionable product
followed liner shipping deregulation in the US, created by a well-known designer Re-
carriers are probably still losing money on their cent wealth in the cities has increased
transatlantic services. But with a possible the demand for designer products.
contraction in capacity and healthy trade Jeans and sportswear are only some of
growth, this year has begun in a much more
promising fashion than last [Lloyds List] our designer products.
derived demand /dravd d- design factor /dzan fkt/ noun
mnd/ noun demand for a product be- the ratio of sampling error of a complex
cause it is needed to produce another sample or sample design to that of a
product which is in demand completely random sample
describe /dskrab/ verb to say what design for manufacturability /d-
someone or something is like The zan f mnjfktrblti/ noun
leaflet describes the services the com- the process of adapting the design of a
pany can offer. The managing direc- product so that it fits as well as possible
tor described the difficulties the into the manufacturing system of an or-
company was having with cash flow. ganisation, thus reducing the problems
of bringing the product to market (NOTE:
description /dskrpn/ noun a de- The manufacturing issues that need to
tailed account of what something is like be taken into account in design for
false description of contents the act manufacturability include selecting ap-
of wrongly stating the contents of a propriate materials, making the prod-
packet to trick customers into buying it uct easy to assemble and minimising
design /dzan/ noun 1. the planning the number of machine set-ups re-
or drawing of a product before it is built quired.)
or manufactured 2. the planning of the
visual aspect of an advertisement verb design protection /dzan pr-
to plan or to draw something before it is tekn/ noun making sure that a design
built or manufactured He designed a is not copied by an unauthorised user
new car factory. She designs garden design studio /dzan stjudi/
furniture. noun an independent firm which
designate /dez"net/ verb to iden- specialises in creating designs
tify something or someone in a particu- desire /dza/ noun the wish to do
lar way something
designated market area desire to purchase /dza t
/dez"net mkt eri/ noun p&ts/ noun the feeling of a customer
geographical areas used in measuring that he or she needs to purchase a prod-
the size of an audience. Abbr DMA uct. AIDA
desk 80 differential advantage

desk /desk/ noun a writing table in an diagram /da"rm/ noun a drawing

office, usually with drawers for statio- which presents information visually a
nery a desk diary a desk drawer a diagram showing sales locations a di-
desk light agram of the companys organisational
desk research /desk rs&t/ noun structure The first diagram shows
looking for information which is in how our decision-making processes
printed sources such as directories work.
desk researcher /desk rs&t/ diagrammatic /da"rmtk/ ad-
noun a person who carries out desk jective in diagrammatic form in the
research form of a diagram The chart showed
the sales pattern in diagrammatic form.
devaluation /divljue()n/
noun a reduction in value of a currency diagrammatically /da"r-
against other currencies the devalua- mtkli/ adverb using a diagram
tion of the rand The chart shows the sales pattern
devalue /divlju/ verb to reduce
the value of a currency against other dial /dal/ verb to call a telephone
currencies The pound has been deval- number on a telephone to dial a num-
ued by 7%. ber to dial the operator
develop /dvelp/ verb 1. to plan and dial-and-smile /dal n smal/
produce to develop a new product 2. verb to try to appear pleasant when
to plan and build an area to develop cold-calling potential customers
an industrial estate diarise /daraz/, diarize verb to en-
developed country /dvelpt ter a date you have to remember in a
k ntri/ noun a country which has an diary
advanced manufacturing system diary /dari/ noun a book in which
developed countries would gain $135 billion you can write notes or appointments for
a year and developing countries, such as the each day of the week She checked her
former centrally planned economies of Eastern engagements in her desk diary.
Europe, would gain $85 billion a year. The
study also notes that the poorest countries would diary method /dari med/ noun
lose an annual $7 billion [Times] a market research method whereby re-
developing country /dvelp spondents keep a regular written ac-
k ntri/, developing nation /d- count of advertising noticed or
velp ne()n/ noun a country purchases made or products used
which is not fully industrialised diary panel /dari pn()l/ noun a
development /dvelpmnt/ noun group of people who are asked to keep
the planning of the production of a new notes of their purchases on a daily basis
product and constructing the first proto- dice /das/ verb to cut food into small
types We spend a great deal on re- cubes
search and development. dichotomous question /da-
development cycle /dvelpmnt ktms kwestn/ noun a question
sak()l/ noun the various stages which in a questionnaire that can only be an-
are involved in the development of a swered by yes or no
product from the initial concept to its differential /dfrenl/ adjective
manufacture and marketing which shows a difference noun to
deviation /divie()n/ noun a erode wage differentials to reduce dif-
change of route or strategy Advertis- ferences in salary gradually
ing in the tabloids will mean a deviation differential advantage /dfrenl
from our normal marketing strategy. dvntd/ noun an advantage that
diadic test /dadk test/ noun a one product has over rival products in
product test in which respondents com- the market We are confident that our
pare two products toothpaste has a differential advantage.
differential pricing 81 direct broadcast by satellite

differential pricing /dfrenl digital money /ddt()l m ni/

pras/ noun giving different products noun a series of numbers that has a
in a range different prices so as to distin- value equivalent to a sum of money in a
guish them from each other physical currency
differential tariffs /dfrenl digital nervous system
trfs/ plural noun different tariffs for /ddt()l n&vs sstm/ noun a
different classes of goods as, e.g., when digital information system containing
imports from certain countries are taxed accumulated knowledge that will enable
more heavily than similar imports from an organisation to respond speedily and
other countries effectively to external events
differentiated marketing strat- digital TV /ddt()l tivi/ noun
egy /dfrenietd mkt TV where the picture has been changed
strtd/ noun a method of marketing into a form which a computer can
where the product is modified to suit process
each potential market. concentrated digital wallet /ddt()l wlt/
marketing, undifferentiated product noun a piece of personalised software
differentiation /dfrenie()n/ on the hard drive of a users computer
noun ensuring that a product has some that contains, in coded form, such items
unique features that distinguish it from as credit card information, digital cash,
competing products We are adding a digital identity certificate, and stand-
some extra features to our watches in ardised shipping information, and can
the interest of product differentiation. be used when paying for a transaction
The aim of differentiation should be to electronically
catch the customers eye. Dinkies /dkiz/ plural noun couples
diffusion /dfju()n/ noun the pro- who are both wage-earners and have no
cess by which a product is gradually children (NOTE: short for Double In-
adopted by consumers come No Kids)
diffusion curve /dfju()n k&v/ direct /darekt/ verb to manage or
noun the geographical representation of organise He directs our South-East
how many consumers adopt a product at Asian operations. She was directing
different times. exponential the development unit until last year.
diffusion adjective straight or without interfer-
digital /ddt()l/ adjective con- ence adverb with no third party in-
verted into a form that can be processed volved We pay income tax direct to
by computers and accurately reproduced the government. to dial direct to con-
digital cash /ddt()l k/ noun a tact a phone number yourself without
form of digital money that can be used asking the operator to do it for you
like physical cash to make online pur- You can dial New York direct from Lon-
chases and is anonymous because there don if you want.
is no way of obtaining information direct-action advertising /da-
about the buyer when it is used rekt kn dvtaz/ noun
digital colour proof /ddt()l advertising which aims to get a quick
k l pruf/ noun a colour proof taken response Well need some di-
from digital files prior to film output at rect-action advertising if were not to
high or low resolution fall behind our competitors this spring.
digital economy /ddt()l Direct-action advertising will only
knmi/ noun an economy that is help us in the short term.
based on electronic commerce, e.g., direct-action marketing /darekt
trade on the Internet kn makt/ noun same as direct
digital goods /ddt()l "dz/ response advertising
plural noun goods that are sold and de- direct broadcast by satellite /da-
livered electronically, usually over the rekt brdkst ba stlat/ noun
Internet TV and radio signals broadcast over a
direct channel 82 directorship

wide area from an earth station via a sat- direct mail /darekt mel/ noun the
ellite, received with a dish aerial. Abbr practice of selling a product by sending
DBS publicity material to possible buyers
through the post These calculators
direct channel /darekt tn()l/ are only sold by direct mail. The com-
noun a marketing channel where a pro-
pany runs a successful direct-mail
ducer and consumer deal directly with operation.
one another
all of those who had used direct marketing
direct close /darekt klz/ noun techniques had used direct mail, 79% had used
the act of ending a sale by asking the some kind of telephone technique and 63% had
tried off-the-page selling [Precision marketing]
customer if they want to buy
direct demand /darekt dmnd/ direct-mail advertising /darekt
noun demand for a product or service mel dvtaz/ noun advertising by
for its own sake, and not for what can be sending leaflets to people through the
derived from it post
direct export /darekt ekspt/ direct mailing /darekt mel/
noun selling a product direct to the noun the sending of publicity material
overseas customer without going by post to possible buyers
through a middleman Direct export is direct mail preference scheme
the only way to keep down the retail /darekt mel pref()rns skim/
price. Our overseas marketing con- noun a scheme where an addressee can
sists mainly of direct export to German have his or her name removed from a
department stores. mailing list
direct headline /darekt hedlan/ direct marketing /darekt
noun an eye-catching headline that pres- mkt/ noun same as direct re-
ents its message directly to its target sponse advertising
audience after five years of explosive growth, fuelled
by the boom in financial services, the direct
direction /darekn/ noun 1. the marketing world is becoming a lot more
process of organising or managing He competitive [Marketing Workshop]
took over the direction of a multina- direct marketing is all about targeting the
tional group. 2. directions for use in- audience, individualising the message and
structions showing how to use getting a response [PR Week]
something direct-marketing media /darekt
directional /darekn()l/ adjective mkt midi/ plural noun media
pointing in a specific direction that are used for direct marketing, e.g.
directional medium /da-
direct mail, telemarketing, and TV
rekn()l midim/ noun an adver- director /darekt/ noun 1. the per-
tising medium that tells potential cus- son appointed by the shareholders to
tomers where to find products or help run a company 2. the person who is
services, e.g. a directory in charge of a project, an official insti-
tute or other organisation the director
directive interview /darektv of the government research institute
ntvju/ noun an interview using pre-
She was appointed director of the trade
set questions and following a fixed
the research director will manage and direct
direct labour /darekt leb/ noun a team of business analysts reporting on the
the cost of the workers employed which latest developments in retail distribution
throughout the UK [Times]
can be allocated to a product, not includ-
ing materials or overheads directorate /darekt()rt/ noun a
directly /darektl/ adverb with no group of directors
third party involved We deal directly directorship /darektp/ noun the
with the manufacturer, without using a post of director She was offered a di-
wholesaler. rectorship with Smith Ltd.
directors report 83 discrepancy

what benefits does the executive derive from change to buy or sell bills of exchange
his directorship? In the first place compensation for less than the value written on them
has increased sharply in recent years
[Duns Business Month] in order to cash them later
banks refrained from quoting forward
directors report /darektz r- US/Hongkong dollar exchange rates as
pt/ noun the annual report from the premiums of 100 points replaced the previous
board of directors to the shareholders days discounts of up to 50 points
[South China Morning Post]
directory /darekt()r/ noun a refer-
ence book containing information on discountable /dskantb()l/
companies and their products adjective which can be discounted
These bills are not discountable.
direct response advertising /da-
rekt rspns dvtaz/ noun ad- discounted cash flow
vertising in such a way as to get custom- /dskantd k fl/ noun the cal-
ers to send in inquiries or orders directly culation of the forecast return on capital
by mail investment by discounting future cash
flows from the investment, usually at a
direct response agency /darekt rate equivalent to the companys mini-
rspns ednsi/ noun a company mum required rate of return. Abbr DCF
which provides direct marketing ser-
vices to its clients such as database man- discounted value /dskantd
agement, direct mail, and response vlju/ noun the difference between
collecting the face value of a share and its lower
market price
direct response marketing /da-
rekt rspns makt/ noun same as discounter /dskant/ noun a per-
direct response advertising son or company that discounts bills or
invoices, or sells goods at a discount
direct selling /darekt sel/ noun invoice discounting is an instant finance
selling a product direct to the customer raiser. Cash is advanced by a factor or
without going through a shop discounter against the value of invoices sent out
by the client company. Debt collection is still in
direct services /darekt s&vsz/ the hands of the client company, which also
plural noun personal services to the continues to run its own bought ledger [Times]
public, e.g. catering, dentistry or hair- a 100,000 square-foot warehouse generates
dressing There is little manufacturing ten times the volume of a discount retailer; it can
industry in the area, and direct services turn its inventory over 18 times a year, more
than triple a big discounters turnover
account for most of the wealth. [Duns Business Month]
dirty /d&ti/ adjective not clean discount house /dskant has/
dirty bill of lading /d&ti bl v noun 1. a financial company which
led/, foul bill of lading /fal bl specialises in discounting bills 2. a shop
v led/ noun a bill of lading stating which specialises in selling cheap goods
that the goods did not arrive on board in bought at a high discount
good condition discount price /dskant pras/
disclosure of information /ds- noun the full price less a discount
klr v nfme()n/ noun the discount rate /dskant ret/ noun
passing on of information that was in- the percentage taken when a bank buys
tended to be kept secret or private to bills
someone else pressure on the Federal Reserve Board to
discount noun /dskant/ the per- ease monetary policy and possibly cut its
centage by which the seller reduces the discount rate mounted yesterday
[Financial Times]
full price for the buyer to give a dis-
count on bulk purchases to sell goods discount store /dskant st/
at a discount or at a discount price to noun a shop which specialises in cheap
sell goods below the normal price goods bought at a high discount
10% discount for cash or 10% cash discrepancy /dskrepnsi/ noun a
discount you pay 10% less if you pay in lack of agreement between figures in in-
cash verb to discount bills of ex- voices or accounts
discretion 84 dispenser

discretion /dskre()n/ noun being dishonour /dsn/ verb (NOTE: the

able to decide correctly what should be American spelling is dishonor) to
done I leave it to your discretion I dishonour a bill not to pay a bill
leave it for you to decide what to do at dishonoured cheque /dsnd
the discretion of someone according to tek/ noun a cheque which the bank
what someone decides Membership is will not pay because there is not enough
at the discretion of the committee. money in the account to pay it
discretionary /dskre()n()ri/ ad- disintegration /dsnt"re()n/
jective which can be done if someone noun the decision to stop producing
wants the ministers discretionary some goods or supplies and to buy them
powers powers which the minister in instead Disintegration has meant
could use if they thought it necessary we now have to buy all of our plastic
discretionary income /d- parts. Part of the companys disinte-
skre()n()ri nk m/ noun income gration policy involved selling off the
left after fixed payments have been factories.
made and whose spending is therefore disintermediation /dsntmidi-
subject to advertising influence Dis- e()n/ noun the removal of any inter-
cretionary incomes generally increase mediaries from a process so that, e.g.,
in a recession. manufacturers sell direct to consumers
discrimination /dskrmne()n/ instead of selling their products through
noun treating people in different ways wholesalers and retailers
because of class, religion, race, lan-
disparage /dsprd/ verb to
guage, colour or sex
discrimination test /dskrm-
ne()n test/ noun a product test de- disparaging copy /dsprd
signed to show how one product differs kpi/ , knocking copy /nk kpi/
noun advertising copy which is critical
from another The discrimination test
showed our product to be superior to of another companys products Their
that of our closest competitor. disparaging copy has given them a bad
name in the industry.
discussion board /dsk ()n
bd/, discussion group /dsk ()n dispatch /dspt/ noun 1. the send-
"rup/ noun a group of people who dis- ing of goods to a customer Production
cuss something by sending emails to the difficulties held up dispatch for several
group and where each member can re- weeks. 2. goods which have been sent
spond and see the responses of other The weekly dispatch went off yesterday.
verb to send goods to customers
The goods were dispatched last Friday.
discussion list /dsk ()n lst/
noun a list of addresses of members of a dispatch department /dspt d-
discussion board ptmnt/ noun the department which
deals with the packing and sending of
diseconomies of scale goods to customers
/dsknnmiz v skel/ plural noun
a situation where increased production dispatcher /dspt/ noun a per-
leads to a higher production cost per son who sends goods to customers
unit or average production cost dispatch note /dspt nt/ noun
disequilibrium /dsikwlbrim/ a note saying that goods have been sent
noun an imbalance in the economy dispatch rider /dspt rad/
when supply does not equal demand noun a motorcyclist who delivers mes-
dishoarding /dshd/ noun putt- sages or parcels in a town
ing goods back onto the market when dispenser /dspens/ noun a ma-
they have been hoarded or stored for chine which automatically provides
some time something such as an object, a drink, or
an item of food, often when money is
dispersion 85 distribute

put in an automatic dispenser a to dispose of his business in the new

towel dispenser year.
dispersion /dsp&()n/ noun the disrewarding /dsrwd/ noun
attempt by a distributor to distribute a the penalising of bad customers to allow
product to a market the company to give special terms to the
display /dsple/ noun the showing of best customers
goods for sale an attractive display of dissonance/attribution model
kitchen equipment The shop has sev- /dsnns trbju()n md()l/
eral car models on display. verb to noun a response model which follows
show The company was displaying the opposite sequence from normal:
three new car models at the show. consumers first act in a specific way,
display advertisement /dsple then develop feelings as a result of their
dv&tsmnt/, display ad /dsple behaviour, and then look for informa-
d/ noun an advertisement which is tion that supports their attitude and
well designed or printed in bold type to behaviour
attract attention dissonance reduction /dsnns
display advertising /dsple
rd kn/ noun a reduction in worries
dvtaz/ noun advertising that has experienced by the purchaser after a
individual features such as photographs, product has been purchased, by increas-
ing their awareness of the positive fea-
its own box border or the company logo
tures of the product and reducing their
in addition to text
fears about its negative features. cog-
display material /dsple m- nitive dissonance
tril/ noun material used to attract at-
tention to goods which are for sale, e.g.
distance freight /dstns fret/
noun freight charges based on the dis-
posters and photographs
tance over which the goods are
display outer /dsple at/ noun a transported
container for protecting goods in transit distinctive competence /d-
which can also be used as an attractive stktv kmpt()ns/ noun an ad-
display container for the goods in a shop vantage that one company or producer
display panel /dsple pn()l/ has over competitors in the market
noun a flat area for displaying goods in Our distinctive competence is a highly
a shop window professional sales force. The company
disposable /dspzb()l/ adjec- could not survive with high costs and no
tive which can be used and then thrown distinctive competence.
away The machine serves soup in dis- distress merchandise /dstres
posable paper cups. m&tndas/ noun US goods sold
disposable income /d- cheaply to pay a companys debts
spzb()l nk m/, disposable distress sale /dstres sel/ noun a
personal income /dspzb()l sale of goods at low prices to pay a com-
p&s()nl nk m/ noun the income panys debts
left after tax and national insurance have distress selling /dstres sel/
been deducted noun the sale of goods cheaply in order
disposal /dspz()l/ noun a sale to pay off debts Difficult circum-
disposal of securities or of property stances forced the producers to resort to
The company has started a systematic distress selling.
disposal of its property portfolio. distribute /dstrbjut/ verb 1. to
lease for disposal or business for dis- share out dividends Profits were dis-
posal a lease or business for sale tributed among the shareholders. 2. to
dispose /dspz/ verb to dispose send out goods from a manufacturers
of to get rid of or to sell cheaply to warehouse to retail shops Smith Ltd
dispose of excess stock He is planning distributes for several smaller compa-
distribution 86 diversify

nies. All orders are distributed from points or small warehouses from which
our warehouse near Oxford. goods are sent all over a country
distribution /dstrbju()n/ noun distribution resource planning
the act of sending goods from the manu- /dstrbju()n rss pln/ noun
facturer to the wholesaler and then to re- planning, especially using a computer-
tailers Stock is held in a distribution ised system, that is intended to ensure
centre which deals with all order pro- the most efficient use of the resources
cessing. Distribution costs have risen used in distributing goods (NOTE: Effec-
sharply over the last 18 months. She tive distribution resource planning inte-
has several years experience as distri- grates distribution with manufacturing
bution manager. and synchronises supply and demand
British distribution companies are poised to
by identifying requirements for finished
capture a major share of the European market goods and by producing schedules for
[Management News] the movement of goods along the dis-
tribution chain so that they reach the
distribution census /dstr- customer as soon as possible.)
bju()n senss/ noun official statis-
tics regarding the number of distributors distributive /dstrbjtv/ adjective
and their businesses Using the distri- referring to distribution
bution census, we drew up a list of distributive trades /dstrbjtv
wholesalers who were worth tredz/ plural noun all business in-
approaching. volved in the distribution of goods
distribution centre /dstr- distributor /dstrbjt/ noun a
bju()n sent/ noun a place where company which sells goods for another
goods are collected and stored tempo- company which makes them a net-
rarily but whose main function is to work of distributors a series of distrib-
send them on to wholesalers, retailers, utors spread all over a country
or consumers distributors brand /dstrbjtz
brnd/ noun goods specially packed
distribution channel /dstr-
for a store with the stores name printed
bju()n tn()l/ noun the route by
on them I bought the distributors
which a product or service reaches a
brand of soap because it was the
customer after it leaves the producer or
supplier (NOTE: A distribution channel
usually consists of a chain of interme- distributorship /dstrbjtp/
diaries, for example wholesalers and noun the position of being a distributor
retailers, that is designed to move for a company
goods from the point of production to distributor support /dstrbjt
the point of consumption in the most spt/ noun the action of a supplier of
efficient way.) a product or service in providing help to
there is evidence that distribution channels distributors, by offering training, pro-
are supply driven motional material, etc.
[Quarterly Review of Marketing]
divergent marketing /dav&dnt
distribution management /dstr- mkt/ noun a separate marketing
bju()n mndmnt/ noun the treatment for each of a companys prod-
management of the efficient transfer of ucts Divergent marketing is giving
goods from the place where they are way to a more coordinated and inte-
manufactured to the place where they grated marketing effort.
are sold or used (NOTE: Distribution diversification /dav&sf-
management involves such activities ke()n/ noun the process of adding
as warehousing, materials handling, another quite different type of business
packaging, stock control, order pro- to a firms existing trade
cessing, and transport.) diversify /dav&sfa/ verb 1. to add
distribution network /dstr- new types of business to existing ones
bju()n netw&k/ noun a series of The company is planning to diversify
divert 87 domestic market

into new products. 2. to invest in differ- ments against presentation

ent types of shares or savings so as to /dkjmnts "enst prez()n-
spread the risk of loss te()n/ noun an arrangement
divert /dav&t/ verb 1. to send to whereby a buyer receives documents for
another place or in another direction 2. the goods on payment of a bill of
to buy stock in a special offer and then exchange
sell it on to customers living outside the dog /d"/ noun a product that has a
special-offer area low market share and a low growth rate,
divestment /davestmnt/ noun the and so is likely to be dropped from the
dropping or sale of a whole product line, companys product line
to allow the company to concentrate on
dog-eat-dog /d" it d"/ noun
other products
marketing activity where everyone
division /dv()n/ noun 1. the main fights for their own product and attacks
section of a large company the mar- competitors mercilessly (informal ).

keting division the production divi-

sion the retail division the hotel do-it-yourself /du t jself/
division of the leisure group 2. a com- adjective done by an ordinary person,
pany which is part of a large group not by a skilled worker. Abbr DIY
Smiths is now a division of the Brown do-it-yourself conveyancing
group of companies. /du t jself knvens/ noun the
divisional /dv()n()l/ adjective drawing up of a legal conveyance by the
referring to a division a divisional di- person selling a property, without the
rector the divisional headquarters help of a lawyer
DM abbr direct marketing do-it-yourself magazine /du t
DMA abbr designated market area jself m"zin/ noun a magazine
with articles on work which the average
DMU abbr decision-making unit person can do to repair or paint his or
document /dkjmnt/ noun a pa- her house
per, especially an official paper, with
written information on it He left a file do-it-yourself store /du t jself
of documents in the taxi. She asked to st/ noun a large store specialising in
see the documents relating to the case. selling materials for the repair and im-
provement of houses, for gardening and
documentary /dkjment()ri/ for light car maintenance
adjective in the form of documents
documentary evidence documentary domestic /dmestk/ adjective 1. re-
proof noun a film concerning actual ferring to the home market or the market
facts or real events of the country where the business is sit-
uated Domestic sales have increased
documentation /dkjmen-
over the last six months. 2. for use in the
te()n/ noun all documents referring
home Glue which is intended for both
to something Please send me the com-
domestic and industrial use.
plete documentation concerning the
sale. domestic appliances /dmestk
document of title /dkjmnt v plansz/plural noun electrical ma-
tat()l/ noun a document allowing the chines which are used in the home, e.g.
holder to handle goods as if they own washing machines
them domestic consumption /d-
documents against acceptance mestk kns mpn/ noun use in the
/dkjmnts "enst kseptns/ home country Domestic consumption
noun an arrangement whereby a buyer of oil has fallen sharply.
receives documents for the goods on domestic market /dmestk
their acceptance of a bill of exchange mkt/ noun the market in the country
documents against cash where a company is based They pro-
/dkjmnts "enst k/, docu- duce goods for the domestic market.
domestic production 88 draft

domestic production /dmestk double column /d b()l klm/

prd kn/ noun the production of noun two columns spanned by an
goods for use in the home country advertisement
door /d/ noun the piece of wood, double crown /d b()l kran/
metal, or other material which closes the noun a basic poster size, 30 inches deep
entrance to a building or room The fi- by 20 inches wide
nance director knocked on the chair- double-decker /d b()l dek/
mans door and walked in. the store noun two advertising panels, one on top
opened its doors on June 1st the store of the other
started doing business on June 1st
double-page spread /d b()l
door drop /d drp/ noun a deliv- ped spred/ noun two facing pages in
ery of promotional literature by hand to a magazine or newspaper, used by an
all the houses in an area advertiser
door-to-door /d t d/ adjective double-pricing /d b()l pras/
going from one house to the next, asking noun the practice of showing two prices
the occupiers to buy something or to on a product, to make buyers think there
vote for someone door-to-door can- has been a price reduction
vassing We have 200 door-to-door double-spotting /d b()l spt/
salesmen. Door-to-door selling is noun running an advertising spot twice
banned in this part of the village.
down /dan/ adverb, preposition in a
door-to-door salesman /d t lower position or to a lower position
d selzmn/ noun a man who goes The inflation rate is gradually coming
from one house to the next, asking peo- down. Shares are slightly down on the
ple to buy something day. The price of petrol has gone
door-to-door service /d t d down. to pay money down to pay a
s&vs/ noun a transportation service deposit They paid 50 down and the
that takes goods directly to the buyers rest in monthly instalments.
address downmarket /danmkt/ adverb,
dormant /dmnt/ adjective no adjective cheaper or appealing to a less
longer active or no longer operating wealthy section of the population The
dormant account /dmnt company has adopted a downmarket im-
kant/ noun a past customer who is age. the company has decided to go
no longer buying Lets re-establish downmarket the company has decided
contact with some of our dormant ac- to make products which appeal to a
counts. All the old reports on dormant wider section of the public
accounts have been filed away. downside /dansad/ noun the
the agency has been responsible for the sales force have been asked to give
dormant account since its last campaign was run downside forecasts they have been
three years ago [Marketing Week] asked for pessimistic forecasts
double /d b()l/ adjective twice as downside factor /dansad
large or two times the size Their turn- fkt/ noun the possibility of making
over is double ours. to be on double a loss in an investment
time to earn twice the usual wages for down tools /dan tulz/ verb to
working on Sundays or other holidays stop working The entire workforce
in double figures with two figures, downed tools in protest.
from 10 to 99 Inflation is in double
figures. We have had double-figure downturn /dant&n/ noun the
inflation for some years. verb to be- movement towards lower prices, sales
come twice as big, or make something or profits a downturn in the market
twice as big We have doubled our price The last quarter saw a downturn
profits this year or our profits have dou- in the economy.
bled this year. The companys draft /drft/ noun an order for money
borrowings have doubled. to be paid by a bank We asked for
draw 89 due

payment by bankers draft. to make a a good time for broadcasting

draft on a bank to ask a bank to pay commercials
money for you driving licence /drav las()ns/
draw /dr/ verb 1. to take money noun the official document which
away to draw money out of an ac- shows someone is legally allowed to
count to draw a salary to have a sal- drive a car, a truck or other vehicle
ary paid by the company The Applicants for the job should hold a
chairman does not draw a salary. 2. to valid driving licence. (NOTE: the Ameri-
write a cheque He paid the invoice can English is drivers license)
with a cheque drawn on an Egyptian drop /drp/ noun a fall a drop in
bank. (NOTE: drawing drew has sales Sales show a drop of 10%.
drawn) The drop in prices resulted in no signifi-
drawback /drbk/ noun 1. some- cant increase in sales. verb 1. to fall
thing which is not convenient or which Sales have dropped by 10% or have
is likely to cause problems One of the dropped 10%. The pound dropped
main drawbacks of the scheme is that it three points against the dollar. 2. not to
will take six years to complete. 2. a re- keep in a product range We have
bate on customs duty for imported dropped these items from the catalogue
goods when these are then used in pro- because theyve been losing sales
ducing exports steadily for some time. (NOTE: drop-
drawee /dri/ noun the person or ping dropped)
bank asked to make a payment by a while unemployment dropped by 1.6 per cent
in the rural areas, it rose by 1.9 per cent in urban
drawer areas during the period under review
drawer /dr/ noun the person who [Business Times (Lagos)]
writes a cheque or a bill asking a drawee corporate profits for the first quarter showed
to pay money to a payee the bank re- a 4 per cent drop from last years final three
months [Financial Times]
turned the cheque to drawer the bank
since last summer American interest rates
would not pay the cheque because the have dropped by between three and four
person who wrote it did not have percentage points [Sunday Times]
enough money in the account to pay it
drop ship /drp p/ verb to deliver
drawing account /dr kant/ a large order direct to a customer
noun a current account from which the
drop shipment /drp pmnt/
customer may take money when he or
noun the delivery of a large order from
she wants
the manufacturer direct to a customers
drilling down /drl dan/ noun shop or warehouse without going
the action of sorting data into hierar- through an agent or wholesaler
chies, each of which is more detailed
dud /d d/ adjective, noun (of a coin or
than the previous one
banknote) false or not good (informal ) .

drip /drp/, drip campaign /drp The 50 note was a dud.

kmpen/, drip method /drp dud cheque /d d tek/ noun a
med/ noun the placing of advertise- cheque which cannot be cashed because
ments for a product at fairly long inter-
the person writing it has not enough
vals, making a long-drawn-out
money in the account to pay it
advertising campaign
due /dju/ adjective 1. owed a sum
drive /drav/ noun an energetic way of due from a debtor to fall/become due
doing things he has a lot of drive he to be ready for payment bill due on
is very energetic in business May 1st a bill which has to be paid on
driver /drav/ noun something or May 1st balance due to us amount
someone that provides an impetus for owed to us which should be paid 2. ex-
something to happen pected to arrive The plane is due to
drive time /drav tam/ noun the arrive at 10.30 or is due at 10.30. 3. in
time when people are most likely to be due form written in the correct legal
listening to the radio in their cars, hence form a receipt in due form a con-
dues 90 duty-paid goods

tract drawn up in due form after due the two businesses collaborated to keep
consideration of the problem after prices at very high levels. When they
thinking seriously about the problem took over their only competitor in the
due to caused by Supplies have been market, the duopoly became a monop-
delayed due to a problem at the manu- oly. Compare monopoly
facturers. The company pays the duplication /djuplke()n/ noun
wages of staff who are absent due to running an advertisement twice to the
illness. same audience
many expect the US economic indicators for
April, due out this Thursday, to show faster durable /djrb()l/ adjective
economic growth [Australian Financial durable effects effects which will be
Review] felt for a long time These demo-
dues /djuz/ plural noun orders taken graphic changes will have durable ef-
but not supplied until new stock arrives fects on the economy.
to release dues to send off orders durable goods /djrb()l "dz/
which had been piling up while a prod- plural noun goods which will be used
uct was out of stock We have re- for a long time, e.g. washing machines
corded thousands of dues for that item or refrigerators
and our supplier cannot supply it.
dustbin check /d stbn tek/ noun
dummy /d mi/ noun an imitation a consumer audit for which a panel of
product to test the reaction of potential householders keep the empty containers
customers to its design of products bought so that these can be
dummy pack /d mi pk/ noun an regularly checked for product type, size
empty pack for display in a shop and brand
dump /d mp/ verb to dump goods Dutch auction /d t kn/ noun
on a market to get rid of large quanti- an auction where the auctioneer offers
ties of excess goods cheaply in an over- an item for sale at a high price and then
seas market gradually reduces the price until some-
a serious threat lies in the 400,000 tonnes of one makes a bid
subsidized beef in European cold stores. If
dumped, this meat will have disastrous effects in duty /djut/ noun a tax which has to
Pacific Basin markets [Australian Financial be paid Traders are asking the gov-
Review] ernment to take the duty off alcohol or to
dump bin /d mp bn/ noun display put a duty on cigarettes. goods which
container like a large box which is filled are liable to duty goods on which cus-
with goods for sale toms or excise tax has to be paid
Canadian and European negotiators agreed to a
dump display /d mp dsple/ noun deal under which Canada could lower its import
goods on special display in a container duties on $150 million worth of European
for purchasers to select themselves in a goods [Globe and Mail (Toronto)]
shop We will use dump displays with the Department of Customs and Excise
price reductions clearly marked. collected a total of N79m under the new
There are several dump displays near advance duty payment scheme
[Business Times (Lagos)]
the counters in the supermarket.
dumping /d mp/ noun the act of duty-free /djuti fri/ adjective, ad-
getting rid of excess goods cheaply in an verb sold with no duty to be paid He
overseas market The government has bought a duty-free watch at the airport.
passed anti-dumping legislation. He bought the watch duty-free.
Dumping of goods on the European duty-free shop /djuti fri p/
market is banned. panic dumping of noun a shop at an airport or on a ship
sterling a rush to sell sterling at any where goods can be bought without pay-
price because of possible devaluation ing duty
duopoly /djupli/ noun the exis- duty-paid goods /djuti ped
tence of only two producers or suppliers "dz/ plural noun goods where the duty
in a market The duopoly meant that has been paid
dyadic communication 91 dynamic pricing

dyadic communication /dadk signing of a companys product in order

kmjunke()n/ noun direct con- to make previous models and other
versation between two people such as a products on the market obsolete
salesperson and a customer dynamic pricing /danmk
dynamic obsolescence /da- pras/ noun pricing that changes
nmk bsles()ns/ noun the rede- when the demand for something in-
creases or decreases
e-alliance 92 econometrics

e-alliance /i lans/ noun a part- e-business /i bzns/ noun 1. busi-
nership between organisations that do ness activities, e.g. buying and selling,
business over the web servicing customers and communicating
e. & o.e. abbr errors and omissions with business partners, that are carried
excepted out electronically, especially on the
Internet 2. a company that does its busi-
ear // noun a space at the top left or ness using the Internet
right corner of the front page of a news- the enormous potential of e-business is that it
paper, set aside for advertising can automate the link between suppliers and
customers [Investors Chronicle]
early /&l/ adjective, adverb before
the usual time The mail arrived early. ecoconsumer /ikknsjum/
We retired early and bought a house noun a customer who will buy goods
in Cornwall. at an early date very that have been produced in a way that
soon does not harm the environment
early adopters /&li dptz/ ecolabel /ikleb()l/ noun a label
plural noun the category of buyers of a used to mark products that are produced
product who use it or buy it later than and can be used and disposed of in a
innovators, but earlier than the late way that does not harm the environment
majority e-commerce /i km&s/ noun the
exchange of goods, information, prod-
early closing day /&li klz ucts or services via an electronic me-
de/ noun a weekday, usually Wednes- dium such as the Internet (NOTE:
day or Thursday, when some shops Although e-commerce was originally
close in the afternoon limited to buying and selling, it has now
early majority /&li mdrti/ evolved and includes such things as
noun a category of buyers of a product customer service, marketing, and ad-
who buy it later than the early adopters vertising.)
earned rate /&nd ret/ noun the ac- the problem is that if e-commerce takes just a
3 per cent slice of the market that would be
tual rate for a printed advertising space enough to reduce margins to ribbons
after taking discounts into account [Investors Chronicle]
earnest /&nst/ noun money paid as the new economy requires new company
structures. He believes that other blue-chip
an initial payment by a buyer to a seller, organizations are going to find that new set-ups
to show commitment to the contract of would be needed to attract and retain the best
sale talent for e-commerce [Times]
earning potential /&n ptenl/ e-commerce mall /i km&s ml/
noun 1. the amount of money which noun same as cyber mall
someone should be able to earn 2. the e-company /i k mp()ni/ noun a
amount of dividend which a share is ca- company that does all its business using
pable of earning the Internet
easy terms /izi t&mz/ plural noun econometrics /knmetrks/ plu-
financial terms which are not difficult to ral noun the study of the statistics of
accept The shop is let on very easy economics, using computers to analyse
terms. these statistics and make forecasts using
economic 93 economy

mathematical models (NOTE: takes a economic order quantity

singular verb) /iknmk d kwntti/ noun the
quantity of stocks which a company
economic /iknmk/ adjective 1. should hold, calculated on the basis of
which provides enough money to make
the costs of warehousing, of lower unit
a profit The flat is let at an economic
costs because of higher quantities pur-
rent. It is hardly economic for the
chased, the rate at which stocks are used
company to run its own warehouse. 2.
and the time it takes for suppliers to de-
referring to the financial state of a coun-
liver new orders. Abbr EOQ
try economic planning economic
trends Economic planners are expect- economic planning /iknmk
ing a comsumer-led boom. The gov- pln/ noun the process of planning
ernments economic policy is in ruins the future financial state of the country
after the devaluation. The economic for the government
situation is getting worse. The coun- economics /iknmks/ noun the
trys economic system needs more study of the production, distribution,
regulation. selling and use of goods and services
each of the major issues on the agenda at this (NOTE: takes a singular verb) plural
weeks meeting is important to the noun the study of financial structures to
governments success in overall economic
management [Australian Financial Review] show how a product or service is costed
and what returns it produces I do not
economical /iknmk()l/ adjec- understand the economics of the coal in-
tive which saves money or materials or dustry. (NOTE: takes a plural verb)
which is cheap economical car a car believers in free-market economics often
which does not use much petrol an find it hard to sort out their views on the issue
economical use of resources using re- [Economist]
sources as carefully as possible economic stagnation /iknmk
economic development st"ne()n/ noun a lack of expan-
/iknmk dvelpmnt/ noun the sion in the economy
expansion of the commercial and finan- economic trend /iknmk
cial situation The economic develop- trend/ noun the way in which a coun-
ment of the region has totally changed trys economy is moving
since oil was discovered there. The
government has offered tax incentives to economies of scale /knmiz v
speed up the economic development of skel/ plural noun a situation in which
the region. Economic development a product is made more profitable by
has been relatively slow in the north, manufacturing it in larger quantities so
compared with the rest of the country. that each unit costs less to make. Com-
pare diseconomies of scale
economic growth /iknmk
"ra/ noun the rate at which a coun- economist /knmst/ noun a per-
trys national income grows son who specialises in the study of eco-
nomics Government economists are
economic indicators /iknmk forecasting a growth rate of 3% next
ndketz/ plural noun a set of statis- year. An agricultural economist stud-
tics which shows how the economy is ies the economics of the agriculture
going to perform in the short or long industry.
term, e.g. the unemployment rate or
overseas trade economy /knm/ noun 1. being
careful not to waste money or materials
economic infrastructure to introduce economies or economy
/iknmk nfrstr kt/ noun the measures into the system to start using
road and rail systems of a country methods to save money or materials 2.
economic model /iknmk the financial state of a country, or the
md()l/ noun a computerised plan of way in which a country makes and uses
a countrys economic system, used for its money The countrys economy is
forecasting economic trends in ruins.
economy car 94 effective date

the European economies are being held back EDMA abbr European Direct Mar-
by rigid labor markets and wage structures, huge
expenditures on social welfare programs and
keting Association
restrictions on the free movement of goods educational advertising /edj-
[Duns Business Month] ke()nl dvtaz/ noun adver-
economy car /knmi k/ noun a tising that informs consumers about a
car which does not use much petrol product, particularly important when the
economy drive /knmi drav/ product has only recently been intro-
noun vigorous effort to save money or duced Educational advertising has
materials made the public aware that our product
is just as safe as more traditional de-
economy measure /knmi
me/ noun an action to save money or vices on the market.
materials e-economy /i knmi/ noun an
economy size /knmi saz/ noun economy in which the use of the
a large size or large packet which is Internet and information technology
cheaper than normal plays a major role
editing /edt/ noun 1. the process effect /fekt/ noun 1. a result The
of checking the results of a survey to effect of the pay increase was to raise
confirm that data has been collected cor- productivity levels. 2. terms of a con-
rectly 2. the process of modifying or tract which take effect or come into
correcting a text or film This sales lit- effect from January 1st terms which
erature needs editing to make it less start to operate on January 1st prices
long-winded. are increased 10% with effect from
January 1st new prices will apply from
edition /d()n/ noun an issue of a
publication such as a newspaper, trade January 1st to remain in effect to
magazine or book We are too late to continue to be applied 3. meaning a
advertise in this months edition. clause to the effect that a clause which
There will be too many competing ad- means that we have made provision
vertisements in that edition. to this effect we have put into the con-
tract terms which will make this work
editorial /edtril/ adjective refer- verb to carry out to effect a payment
ring to editors or to editing noun the to make a payment to effect customs
main article in a newspaper, written by clearance to clear something through
the editor customs to effect a settlement be-
editorial advertisement /ed- tween two parties to bring two parties
tril dv&tsmnt/ noun an adver- together and make them agree to a
tisement in the form of text material in a settlement
magazine effective /fektv/ adjective 1. ac-
editorial board /edtril bd/ tual, as opposed to theoretical 2. a
noun a group of editors on a newspaper clause effective as from January 1st a
or other publication clause which starts to be applied on Jan-
editorial environment /edtril uary 1st 3. which works or produces re-
nvarnmnt/ noun the general edi- sults Advertising in the Sunday papers
torial tone and philosophy of a medium is the most effective way of selling.
editorial matter /edtril mt/ She is an effective marketing manager.
noun the text of a magazine which is cost-effective
written by journalists, and not part of an effective cover /fektv k v/
advertisement noun a situation where consumers in the
editorial publicity /edtril p b- target audience will have seen the ad-
lsti/ noun free publicity which is vertisement at least four times on
given to a product by a newspaper or average
magazine in an editorial or article, rather effective date /fektv det/ noun
than in an advertisement which must be the date on which a rule or contract
paid for
effective demand 95 electronic shopping

starts to be applied, or on which a trans- goods that a supplier has for sale, which
action takes place can be viewed in an electronic format,
effective demand /fektv d- e.g., on a website
mnd/ noun the actual demand for a electronic commerce /elktrnk
product which can be paid for km&s/ noun same as e-commerce
effectiveness /fektvns/ noun the electronic data capture
quality of working or producing results /elktrnk det kpt/ noun the
I doubt the effectiveness of television use of data-processing equipment to col-
advertising. cost-effectiveness lect data, especially the use of electronic
effective reach /fektv rit/ noun point-of-sale equipment to collect, vali-
the actual number of people who will date and submit data when credit or
see an advertisement once debit cards are used in transactions
effective sample size /fektv electronic data interchange
smpl saz/ noun the size of a sam- /elktrnk det nttend/ noun
ple after all irrelevant factors have been a standard format used when business
removed documents such as invoices and pur-
effectual /fektul/ adjective which chase orders are exchanged over elec-
produces a correct result tronic networks such as the Internet
ego /i", e"/ noun the psycho- electronic data processing
logical term for a persons conscious- /elktrnk det prses/ noun
ness of himself or herself We are the process of selecting and examining
designing clothes to boost mens egos. data stored in a computer to produce in-
Glamorous advertising appeals to the formation. Abbr EDP
customers ego. electronic funds transfer at
eighty/twenty rule /eti twenti point of sale /elktrnk f ndz
rul/ noun the rule that a small percent- trnsf& t pnt v sel/ noun a sys-
age of customers may account for a tem for transferring money directly
large percentage of sales. Paretos from the purchasers account to the
Law sellers, when a sale is made using a
elastic /lstk/ adjective which can plastic card. Abbr EFTPOS
expand or contract easily because of electronic mail /elktrnk mel/
small changes in price noun same as email 1
elastic demand /lstk dmnd/ electronic media /elktrnk
noun demand which experiences a com- midi/ plural noun electronic-based
paratively large percentage change in re- media, e.g. television and radio Ad-
sponse to a change in price vertising in the electronic media would
elasticity /lststi/ noun the abil- certainly increase sales, but we can only
ity to change easily in response to a afford to advertise in the press.
change in circumstances elasticity of electronic payment system
supply and demand changes in supply /elktrnk pemnt sstm/ noun a
and demand of an item depending on its means of making payments over an
market price electronic network such as the Internet
elastic supply /lstk spla/ electronic point of sale
noun supply which experiences a com- /elktrnk pnt v sel/ noun a sys-
paratively large percentage change in re- tem where sales are charged automati-
sponse to a change in price cally to a customers credit card and
electronic /elktrnk/ adjective re- stock is controlled by the shops com-
ferring to computers and electronics puter. Abbr EPOS
electronic cash /elktrnk k/ electronic shopping /elktrnk
noun same as digital cash p/ noun shopping for goods or ser-
electronic catalogue /elktrnk vices which takes place over an elec-
kt()l"/ noun a catalogue of the tronic network such as the Internet
eliminate 96 enc

eliminate /lmnet/ verb to remove embargo on the export of computers.

to eliminate defects in the system to be under an embargo to be forbid-
Using a computer should eliminate all den 2. a period of time during which
possibility of error. We have decided specific information in a press release
to eliminate this series of old products must not be published (NOTE: plural is
from our range. Most of the candi- embargoes) verb 1. to stop trade or
dates were eliminated after the first not to allow trade The government has
batch of tests. embargoed trade with the Eastern coun-
elimination /lmne()n/ noun tries. 2. not to allow publication of in-
the act of removing something formation for a period of time The
news of the merger has been embargoed
email /imel/ noun 1. a system of until next Wednesday.
sending messages from one computer the Commerce Department is planning to
terminal to another, using a modem and loosen export controls for products that have
telephone lines You can contact me by been embargoed but are readily available
phone or email if you want. 2. a mes- elsewhere in the West [Duns Business Month]
sage sent electronically I had six e-money /i m ni/ noun same as
emails from him today. verb to send a digital money
message from one computer to another, emotional appeal /m()n()l
using a modem and telephone lines pil/ noun an attempt by advertising to
She emailed her order to the warehouse. persuade through an emotional rather
I emailed him about the meeting. than a rational message The charity
email campaign /imel kmpen/ used the emotional appeal of starving
noun a series of emails which deliver children to raise funds. Emotional ap-
marketing messages to individuals peal was an obvious feature in all the
political parties campaign films.
email mailing list /i mel mel
lst/ noun a marketing technique that in- empirical data /mprk()l det/
volves contacting a group of people noun data or information which comes
from anywhere in the world and inviting from actual observation or which can be
them to discuss a particular topic and proved We have no empirical data
share information and experience by concerning our competitors sales last
email (NOTE: An email mailing list is run year.
by a moderator who compiles a list of employers liability insurance
email addresses for possible mem- /mplz lablti nrns/
bers, mails them with the theme for noun insurance to cover accidents
discussion, collects their contributions, which may happen at work, and for
and publishes them by email so that which the company may be responsible
other members of the group can re- employers organization /m-
spond to them.) plz "naze()n/, employers
e-marketplace /i mktples/ association /mplz ssi-
noun a network of connections that e()n/ noun a group of employers
brings business-to-business buyers and with similar interests
sellers together on the Internet and en- employment agency /mplmnt
ables them to trade more efficiently ednsi/ noun an office which finds
online jobs for staff
embargo /mb"/ noun 1. a gov- emporium /mprim/ noun a large
ernment order which stops a type of shop (NOTE: plural is emporia)
trade to lay or put an embargo on emptor /empt/ noun caveat
trade with a country to say that trade emptor
with a country must not take place
The government has put an embargo on empty nesters /empti nestz/ plu-
the export of computer equipment. to ral noun couples whose children have
lift an embargo to allow trade to start grown up and left the home
again The government has lifted the enc, encl abbr enclosure
enclose 97 environmental analysis

enclose /nklz/ verb to put some- enterprise /entpraz/ noun 1. a

thing inside an envelope with a letter system of carrying on a business 2. a
to enclose an invoice with a letter I business
am enclosing a copy of the contract. enterprise zone /entpraz zn/
Please find the cheque enclosed here- noun an area of the country where busi-
with. Please enclose a recent photo- nesses are encouraged to develop by of-
graph with your CV. fering special conditions such as easy
enclosure /nkl/ noun a docu- planning permission for buildings or a
ment enclosed with a letter or package reduction in the business rate
The enclosure turned out to be a free entrant /entrnt/ noun a company
sample of perfume. Sales material on which goes into a market for the first
other products was sent out as an time
entrepot port /ntrp pt/ noun
encode /nkd/ verb to write some- a town with a large international com-
thing in a code so that it cannot be read mercial port dealing in re-exports
or used by other people
entrepot trade /ntrp tred/
end /end/ noun the final point or last noun the exporting of imported goods
part at the end of the contract period
entrepreneur /ntrprn&/ noun a
end consumer /end knsjum/ person who directs a company and takes
noun a person who uses a product The commercial risks
survey was designed to assess the atti-
tudes of end consumers to the product. entrepreneurial /ntrprn&ril/
adjective taking commercial risks an
end of season sale /end v entrepreneurial decision
siz()n sel/ noun a sale of goods at a
lower price when the season in which entry barrier /entri bri/ noun
they would be used is over such as sum- same as barrier to entry
mer clothes sold cheaply in the autumn E number /i n mb/ noun a classifi-
endorse /nds/ verb to say that a cation of additives to food according to
product is good to endorse a bill or a the European Union
cheque to sign a bill or cheque on the COMMENT: Additives are classified as fol-
back to show that you accept it lows: colouring substances: E100 E180;
preservatives: E200 E297; antioxidants:
endorsee /endsi/ noun a person E300 E321; emulsifiers and stabilizers:
whose name is written on a bill or E322 E495; acids and bases: E500
cheque as having the right to cash it E529; anti-caking additives: E530 E578;
endorsement /ndsmnt/ noun 1. flavour enhancers and sweeteners: E620
the act of endorsing 2. signature on a E637.
document which endorses it envelope stuffer /envlp st f/
endorsement advertising /n- noun advertising material which is
dsmnt dvtaz/ noun same as mailed in an envelope
product endorsement environment /nvarnmnt/ noun
endorser /nds/ noun a person the area in which an organisation works
who endorses a bill which is then paid to environmental analysis
him or her /nvarnment()l nlss/ noun
end user /end juz/ noun a person analysis of factors outside an organisa-
who actually uses a product tion such as demography or politics, in
order to make strategic planning more
enhancement /nhnsmnt/ noun effective Our environmental analysis
increase or improvement in quality of must cover all the countries we sell in.
service, value for money, etc. Environmental analysis made clear that
ent /ent/ noun a test of number se- some markets were too unstable to
quences for large quantities of data enter.
environmental management 98 estimate

environmental management creased costs, or regular wage increases

/nvarnment()l mndmnt/ because of the increased cost of living
noun a planned approach to minimising
an organisations impact on the
escrow /eskr/ noun in escrow
held in safe keeping by a third party
document held in escrow a document
epos /ips/, EPOS, EPoS abbr elec- given to a third party to keep and to pass
tronic point of sale on to someone when money has been
equilibrium /ikwlbrim/ noun paid
the state of balance in the economy escrow account /eskr kant/
where supply equals demand noun US an account where money is
equity capital /ekwti kpt()l/ held in escrow until a contract is signed
noun the nominal value of the shares or until goods are delivered
owned by the ordinary shareholders of a essential /senl/ adjective very
company (NOTE: Preference shares important It is essential that an agree-
are not equity capital. If the company
ment be reached before the end of the
were wound up, none of the equity
month. The factory is lacking essen-
capital would be distributed to prefer-
tial spare parts.
ence shareholders.)
e-retailer /i ritel/ noun a busi- essential goods /senl "dz/,
ness that uses an electronic network essential products /senl
such as the Internet to sell its goods or prd ktz/ plural noun basic goods or
services products necessary for everyday life
erode /rd/ verb to wear away grad- estate duty /stet djuti/ noun a
ually to erode wage differentials to tax paid on the property left by a dead
reduce gradually differences in salary person
between different grades estimate noun /estmt/ 1. a calcula-
error /er/ noun a mistake He made tion of probable cost, size or time of
an error in calculating the total. The something these figures are only an
secretary must have made a typing estimate these are not the final accurate
error. figures Can you give me an estimate
error rate /er ret/ noun the number of how much time was spent on the job?
of mistakes per thousand entries or per 2. a calculation by a contractor or seller
page of a service of how much something is
likely to cost, given to a client in ad-
escalate /esklet/ verb to increase vance of an order You should ask for
steadily an estimate before committing your-
escalation /eskle()n/ noun a selves. Before we can give the grant
steady increase an escalation of wage we must have an estimate of the total
demands The union has threatened an costs involved. Unfortunately the final
escalation in strike action. escalation bill was quite different from the esti-
of prices a steady increase in prices mate. to put in an estimate to give
escalation clause /eskle()n someone a written calculation of the
klz/ noun same as escalator clause probable costs of carrying out a job
Three firms put in estimates for the job.
escalator /esklet/ noun a moving
verb /estmet/ 1. to calculate the
probable cost, size or time of something
escalator card /esklet kd/ to estimate that it will cost 1m or to
noun an advertisement on either side of estimate costs at 1m We estimate
an escalator in underground stations current sales at only 60% of last year. 2.
The media buyer compared the cost of to estimate for a job to state in writ-
posters and escalator cards. ing the future costs of carrying out a
escalator clause /esklet klz/ piece of work so that a client can make
noun a clause in a contract allowing for an order Three firms estimated for the
regular price increases because of in- refitting of the offices.
estimated 99 excess

estimated /estmetd/ adjective work more freely in other countries of

calculated approximately estimated the group
sales Costs were slightly more than evaluate /vljuet/ verb to examine
the estimated figure. something to see how good it is
estimation /estme()n/ noun an evaluation /vlje()n/ noun the
approximate calculation examination of a product to see how
estimator /estmet/ noun a person good it is
whose job is to calculate estimates for evaluative /vljutv/ adjective re-
carrying out work ferring to the calculation of value
e-tailer /i tel/ noun same as evaluative criteria /vljutv
e-retailer kratri/ plural noun the criteria used
e-tailing /i tel/ noun 1. the selling to compare different products or
of goods and services using an elec- services
tronic network such as the Internet 2. even number /iv()n n mb/
same as e-commerce noun a number which can be divided by
ethics /eks/ noun the moral aspects two, e.g. 24 or 80
of decision-making Whether or not event /vent/ noun a thing which hap-
we use such aggressive sales tactics is a pens, e.g. a sports competition, a flower
matter of ethics. (NOTE: takes a singular show
event marketing /vent mkt/
ethnic /enk/ adjective relating to noun promotional activity to advertise
people who share the same race, culture an event
and traditions
event sponsorship /vent
ethnic media /enk midi/ plural spnsp/ noun a promotional deal by
noun magazines or TV stations which
which a company sponsors a particular
appeal to ethnic audiences
event such as a concert, sporting event,
ethnocentric stage /en or other activity, on a regular basis
sentrk sted/ noun US an early
stage in a companys marketing when
evoke /vk/ verb to call up an
goods are sent overseas with no conces-
sions to local needs or tastes evoked set /vkt set/ noun the
various brands which are identified by a
EU /iju/ abbr European Union EU
consumer as possible purchases and
ministers met today in Brussels. The
which he or she considers during the al-
USA is increasing its trade with the EU.
ternative evaluation process
European Community /jr-
pin kmjunti/ noun formerly, the ex /eks/ preposition 1. out of or from
name of the European Union price ex warehouse a price for a prod-
uct which is to be collected from the
European Direct Marketing As- manufacturers or agents warehouse
sociation /jrpin darekt and so does not include delivery price
mkt ssie()n/ an organisa- ex works or ex factory a price not in-
tion based in Switzerland which moni- cluding transport from the makers fac-
tors new techniques in direct marketing tory 2. without
and represents the interests of its mem-
bers. Abbr EDMA ex- /eks/ prefix former an ex-director
of the company
European Union /jrpin
jnn/ (formerly, the European Eco- excess /kses, ekses/ noun an
nomic Community (EEC), the Common amount which is more than what is al-
Market) a group of European countries lowed an excess of expenditure over
linked together by the Treaty of Rome revenue
most airlines give business class the same
in such a way that trade is more free, baggage allowance as first class, which can save
people can move from one country to large sums in excess baggage
another more freely and people can [Business Traveller]
excess baggage 100 exclusive agreement

control of materials provides manufacturers has imposed exchange controls. They

with an opportunity to reduce the amount of say the government is going to lift ex-
money tied up in excess materials
[Duns Business Month] change controls.
excess baggage /ekses b"d/ exchange dealer /kstend
noun an extra payment at an airport for dil/ noun a person who buys and sells
taking baggage which is heavier than foreign currency
the normal passengers allowance exchange dealings /kstend
excess capacity /ekses kpsti/ dilz/ plural noun the buying and
noun spare capacity which is not being selling of foreign currency
used exchange economy /kstend
excess demand /ekses dmnd/ knmi/ noun an economy based on
noun more demand at the present price the exchange of goods and services
than sellers can satisfy Much more exchange premium /kstend
machinery and labour must be acquired primim/ noun an extra cost above the
to meet excess demand. normal rate for buying a foreign
excess profit /ekses prft/ noun currency
profit which is higher than what is exchanger /kstend/ noun a
thought to be normal person who buys and sells foreign
excess supply /ekses spla/ noun currency
more supply at the present price than
buyers want to buy
exchange rate /kstend ret/
noun a figure that expresses how much
exchange /kstend/ noun the act a unit of one countrys currency is worth
of giving one thing for another ex- in terms of the currency of another
change of contracts the point in the country
sale of property when the buyer and the can free trade be reconciled with a strong
seller both sign the contract of sale dollar resulting from floating exchange rates
which then becomes binding verb 1. [Duns Business Month]
to exchange something (for some- a draft report on changes in the international
thing else) to give one thing in place of monetary system casts doubt on any return to
something else He exchanged his mo- fixed exchange-rate parities
[Wall Street Journal]
torcycle for a car. If the trousers are
too small you can take them back and exchange transaction /ks-
exchange them for a larger pair. tend trnzkn/ noun a pur-
Goods can be exchanged only on pro- chase or sale of foreign currency
duction of the sales slip. 2. to change excise duty /eksaz djuti/ noun a
money of one country for money of an- tax on goods such as alcohol and petrol
other to exchange euros for pounds which are produced in the country
under the barter agreements, Nigeria will
export crude oil in exchange for trucks, food, exclusion clause /ksklu()n
planes and chemicals [Wall Street Journal] klz/ noun a clause in an insurance
exchangeable /kstendb()l/ policy or warranty which says which
adjective which can be exchanged items or events are not covered
exchange control /kstend exclusive adjective /ksklusv/ 1.
kntrl/ noun the control by a gov- limited to one person or group to have
ernment of the way in which its cur- exclusive right to market a product to
rency may be exchanged for foreign be the only person who has the right to
currencies The government had to im- market a product 2. exclusive of not
pose exchange controls to stop the rush including All payments are exclusive
to buy dollars. of tax. The invoice is exclusive of
exchange controls /kstend VAT. noun the exclusive rights to a
kntrlz/ plural noun government re- news story or the story itself
strictions on changing the local currency exclusive agreement /ksklusv
into foreign currency The government "rimnt/ noun an agreement where a
exclusivity 101 expected price

person is made sole agent for a product exhibition stand /eksb()n

in a market stnd/ noun a separate section of an
exclusivity /eksklusvt/ noun the exhibition where a company exhibits its
exclusive right to market a product products or services
ex dividend /eks dvdend/ adjec- exhibitor /"zbt/ noun a person or
tive referring to a share price not includ- company that shows products at an
ing the right to receive the next dividend exhibition
The shares went ex dividend exorbitant /"zbtnt/ adjective
yesterday. unreasonably high in price $10,000 a
exempt /"zempt/ adjective not cov- minute, thats exorbitant and quite un-
ered by a law, or not forced to obey a justified. Their fees may seem exorbi-
law Anyone over 65 is exempt from tant, but their costs are very high.
charges exempt from tax not re- expand /kspnd/ verb to get bigger,
quired to pay tax As a or make something bigger an expand-
non-profit-making organisation we are ing economy The company is expand-
exempt from tax. verb 1. to free some- ing fast. We have had to expand our
thing from having tax paid on it sales force.
Non-profit-making organisations are expansion /kspnn/ noun an in-
exempted from tax. 2. to free someone crease in size The expansion of the
from having to pay tax Food is ex- domestic market. The company had
empted from sales tax. difficulty in financing its current expan-
Companies with sales under $500,000 a year sion programme.
will be exempt from the minimum-wage inflation-adjusted GNP moved up at a 1.3%
requirements [Nations Business] annual rate, its worst performance since the
exempt rating /"zempt ret/ economic expansion began [Fortune]
noun the legal right of a business not to the businesses we back range from start-up
add VAT to the prices of some products ventures to established businesses in need of
further capital for expansion [Times]
or services
the group is undergoing a period of rapid
exempt supplies /"zempt expansion and this has created an exciting
splaz/ plural noun products or ser- opportunity for a qualified accountant
vices on which the supplier does not [Financial Times]
have to charge VAT expect /kspekt/ verb to hope that
ex gratia /eks "re/ adjective done something is going to happen We are
as a favour expecting him to arrive at 10.45. They
ex gratia payment /eks "re are expecting a cheque from their agent
pemnt/ noun a payment made as a next week. The house was sold for
gift, with no other obligations more than the expected price.
he observed that he expected exports to grow
exhibit /"zbt/ noun 1. a thing faster than imports in the coming year
which is shown The buyers admired [Sydney Morning Herald]
the exhibits on our stand. 2. a single American business as a whole has seen profits
section of an exhibition the British well above the levels normally expected at this
Trade Exhibit at the International Com- stage of the cycle [Sunday Times]
puter Fair verb to exhibit at the expectation /ekspekte()n/ noun
Motor Show to display new models of 1. what someone believes will happen,
cars at the Motor Show especially concerning their future pros-
exhibition /eksb()n/ noun an perity 2. what someone believes about
occasion for the display of goods so that an item or service to be purchased,
buyers can look at them and decide what which is one of the reasons for making
to buy The government has sponsored the purchase
an exhibition of good design. We have expected price /ekspektd pras/
a stand at the Ideal Home Exhibition. noun the price of a product which con-
The agricultural exhibition grounds sumers consider corresponds to its true
were crowded with visitors. value
expense 102 exploit

expense /kspens/ noun money staff will have dealt with a crisis like
spent It is not worth the expense. this before.
The expense is too much for my bank experience effect /ksprins
balance. The likely profits do not jus- fekt/ noun the role of experience in
tify the expense of setting up the project. improving business efficiency The ex-
It was well worth the expense to get perience effect is evident in the rise in
really high-quality equipment. our profits as our workforce becomes
expense account /kspens more skilled.
kant/ noun an allowance of money experiencer /eksprins/ noun in
which a business pays for an employee the VALS lifestyle classification sys-
to spend on travelling and entertaining tem, a young person who likes new and
clients in connection with that business unusual things and spends a lot of
I can put this lunch on my expense money on hobbies and socialising
experiential advertising /ek-
expenses /kspensz/ plural noun sprienl dvtaz/ noun adver-
money paid to cover the costs incurred tising which conveys to the customer
by someone when doing something the real sensation of using the product
The salary offered is 10,000 plus ex- experimental method /eksper-
penses. all expenses paid with all ment()l med/ noun the use of con-
costs paid by the company The com- trolled experiments to discover the in-
pany sent him to San Francisco all ex- fluence of various variables in
penses paid. to cut down on expenses marketing such as types of promotion
to reduce spending and sales training
expensive /kspensv/ adjective expert /eksp&t/ noun a person who
which costs a lot of money First-class knows a lot about something an ex-
air travel is becoming more and more pert in the field of electronics or an elec-
expensive. tronics expert The company asked a
experience /ksprins/ noun financial expert for advice or asked for
knowledge or skill that comes from hav- expert financial advice. experts re-
ing had to deal with many different situ- port a report written by an expert
ations She has a lot of experience of expertise /eksptiz/ noun special-
dealing with German companies. I ist knowledge or skill in a particular
gained most of my experience abroad. field With years of experience in the
Considerable experience is required for industry, we have plenty of expertise to
this job. The applicant was pleasant, draw on. Lack of marketing expertise
but did not have any relevant experi- led to low sales figures. We hired Mr
ence. verb to live through a situation Smith because of his financial expertise
The company experienced a period of or because of his expertise in finance.
falling sales.
expert system /eksp&t sstm/
experience curve /ksprins noun a computer program that is de-
k&v/ noun a graph showing the rela- signed to imitate the way a human ex-
tionship between the cumulative amount pert in a particular field thinks and
of products produced and the production makes decisions (NOTE: Expert sys-
cost per unit The experience curve tems, which are an application of artifi-
shows how increasing efficiency has cial intelligence, are used for a wide
brought down our costs. variety of tasks including medical diag-
experienced /ksprinst/ adjec- nostics and financial decision-making
tive referring to a person who has lived and can be used by non-experts to
through many situations and has learnt solve well-defined problems when hu-
from them You are the most experi- man experts are unavailable.)
enced negotiator I know. We have ap- exploit /ksplt/ verb to use some-
pointed a very experienced candidate as thing to make a profit The company is
sales director. Our more experienced exploiting its contacts in the Ministry of
exponential diffusion 103 express

Trade. We hope to exploit the oil re- export department /ekspt d-

sources in the China Sea. ptmnt/ noun the section of a com-
exponential diffusion /eksp- pany which deals in sales to foreign
nen()l dfju()n/, exponential countries
growth /ekspnen()l "r/ noun export duty /ekspt djuti/ noun a
a typical growth pattern of new products tax paid on goods sent out of a country
that involves a slow start, followed by for sale
acceleration and finally a slowing down exporter /kspt/ noun a person,
exponential smoothing /eksp- company or country that sells goods in
nen()l smu/noun a technique foreign countries a major furniture
for working out averages while allowing exporter Canada is an important ex-
for recent changes in values by moving porter of oil or an important oil
forward the period under consideration exporter.
at regular intervals export house /ekspt has/ noun
export noun /ekspt/ the practice or a company which specialises in the ex-
business of sending goods to foreign port of goods manufactured by other
countries to be sold 50% of the com- companies
panys profits come from the export exporting /ekspt/ adjective
trade or the export market. verb /k- which exports oil-exporting coun-
spt/ to send goods to foreign coun- tries countries which produce oil and
tries for sale 50% of our production is sell it to other countries
exported. The company imports raw
materials and exports the finished export licence /ekspt las()ns/
products. noun a government permit allowing
in the past, export documentation was a something to be exported The govern-
major stumbling block for some companies ment has refused an export licence for
[Marketing & Sales Management] computer parts.
Europes gross exports of white goods climbed
to 2.4 billion, about a quarter of total export manager /ekspt
production [Economist] mnd/ noun the person in charge of
the New Zealand producers are now aiming an export department in a company
to export more fresh meat as opposed to frozen The export manager planned to set up a
which has formed the majority of its UK imports sales force in Southern Europe. Sales
in the past [Marketing] managers from all export markets re-
export agent /ekspt ednt/ port to our export manager.
noun a person who sells overseas on be- exports /ekspts/ plural noun goods
half of a company and earns a commis- sent to a foreign country to be sold
sion An export agent is developing Exports to Africa have increased by
our business in West Africa. She is 25%. (NOTE: usually used in the plural,
working in London as an export agent but the singular form is used before a
for a French company. noun)
exportation /ekspte()n/ noun exposition /ekspz()n/ noun US
the act of sending goods to foreign same as exhibition
countries for sale
exposure /ksp/ noun publicity
export bounty /ekspt banti/ given to an organisation or product
noun a government payment to busi-
Our company has achieved more expo-
nesses to encourage specific types of sure since we decided to advertise
export nationally.
Export Credit Guarantee Depart- it attributed the poor result to the banks high
ment /ekspt kredt "rnti d- exposure to residential mortgages, which
ptmnt/ noun a British government showed a significant slowdown in the past few
department which insures sellers of ex- months [South China Morning Post]
ports sold on credit against the possibil- express /kspres/ adjective rapid or
ity of non-payment by the purchasers. very fast an express letter verb to
Abbr ECGD send something very fast We ex-
expressage 104 extra

pressed the order to the customers extensive problem-solving /k-

warehouse. stensv prblm slv/ noun de-
expressage /kspresd/ noun US tailed research and decision-making by
a very fast transport service a buyer who needs to examine carefully
all options open to him or her
express delivery /kspres d-
lv()ri/ noun very fast delivery external /kst&n()l/ adjective 1.
outside a country 2. outside a company
extend /kstend/ verb 1. to offer to
extend credit to a customer 2. to make external account /kst&n()l
longer Her contract of employment kant/ noun an account in a British
was extended for two years. We have bank of someone who is living in an-
extended the deadline for making the other country
appointment by two weeks. external analysis /kst&n()l
extended credit /kstendd nlss/ noun the analysis of an
kredt/ noun credit allowing the bor- organisations customers, market seg-
rower a very long time to pay We sell ments, competitors, and marketing
to Australia on extended credit. environment
extended guarantee /kstendd external audience /kst&n()l
"rnti/ noun a guarantee, offered by dins/ noun people, such as the gen-
a dealer on consumer durables such as eral public, who do not belong to an
dishwashers, which goes beyond the organisation
time specified in the manufacturers external audit /kst&n()l dt/
guarantee noun an evaluation of the effectiveness
extension /kstenn/ noun allow- of a companys public relations carried
ing a longer time for something than out by an outside agency
was originally agreed to get an exten- external communication /k-
sion of credit to get more time to pay st&n()l kmjunke()n/ noun the
back extension of a contract the con- exchange of information and messages
tinuing of a contract for a further period between an organisation and other or-
the White House refusal to ask for an ganisations, groups, or individuals that
extension of the auto import quotas are not part of it (NOTE: External com-
[Duns Business Month]
munication includes the fields of public
extension strategy /kstenn relations, media relations, advertising,
strtdi/ noun a marketing strategy and marketing management.)
aimed at extending the life of a product external desk research /k-
either by making small changes in it, st&n()l desk rs&t/ noun research
finding new uses for it or finding new based on material outside the com-
markets An extension strategy is panys own records, e.g. in libraries or
needed to ensure demand for another government departments
few years. The extension strategy con-
sisted in providing a greater choice of external search /kst&n()l s&t/
colours and upholstery for the range of noun a method of finding information
cars. from external sources such as advertis-
ing, or from the web using a search
extensive /kstensv/ adjective very engine
large or covering a wide area an ex-
tensive network of sales outlets external search engine /k-
st&n()l s&t endn/ noun a search
extensive marketing /kstensv engine that allows the user to search
mkt/ noun the practice of using a millions of Internet pages rapidly
wide network of distributors and a great
variety of promotional activities to gain external trade /kst&n()l tred/
as large a section of the market as possi- noun trade with foreign countries
ble Only a company with vast re- (NOTE: the opposite is internal trade)
sources could embark on this type of extra /ekstr/ adjective which is
extensive marketing. added or which is more than usual to
extranet 105 e-zine

charge 10% extra for postage service ture We are using extrapolation to
is extra There is no extra charge for forecast demand for a new product
heating. We get 25 extra pay for based on the demand for a similar prod-
working on Sunday. uct over the last five years.
extranet /ekstrnet/ noun a closed extras /ekstrz/ plural noun items
network of websites and email systems which are not included in a price
that is accessible to the people who be- Packing and postage are extras.
long to an organisation and to some oth- eyeballing /abl/ noun simply
ers who do not, and that allows the looking at statistical data to make a
outsiders access to the organisations in- quick and informal assessment of the re-
ternal applications or informationusu- sults (informal )
ally subject to some kind of signed
agreement (NOTE: Like intranets, eyeballs /ablz/ plural noun a mea-
extranets provide all the benefits of sure of the number of visits made to a
Internet technology (browsers, web website (slang)
servers, HTML, etc.) with the added eye candy /a kndi/ noun visually
benefit of security, since the network attractive material (slang)
cannot be used by the general public.) eye-movement test /a
extraordinary items /k- muvmnt test/, eye tracking /a
strd()n()ri atmz/ plural noun trk/ noun an advertising research
large items of income or expenditure test which involves recording the move-
which do not arise from normal trading ment of a persons eyes as they look at
and which do not occur every year. an advertisement to see which parts are
They are shown separately on the profit of special interest The eye-movement
and loss account after taxation, as op- test will tell us what to highlight in fu-
posed to exceptional items, which are ture advertisements.
calculated before the pre-tax profit. e-zine /i zin/ noun a publication on a
extrapolation /kstrple()n/ particular topic that is distributed regu-
noun a forecasting technique which in- larly in electronic form, mainly via the
volves projecting past trends into the fu- web but also by email
face-lift 106 factor analysis

face-lift /feslft/ noun an improve- facing page /fes ped/ noun the
ment to the design of products and pack- page opposite
aging or of an organisations image facsimile /fksml/ noun an exact
These products need a face-lift if they copy of a text or illustration
are going to retain their appeal.
fact /fkt/ noun a piece of information
face out /fes at/ adverb used to re- The chairman asked to see all the
fer to the displaying of books on book- facts on the income tax claim. The
shop shelves, showing the front cover sales director can give you the facts and
face-to-face selling /fes t fes figures about the African operation.
sel/ noun person-to-person or direct
selling, involving a meeting between fact book /fkt bk/ noun data put
seller and buyer Six months of together about a product on the market
face-to-face selling will give trainees di- that can be used for reference by the
rect experience of the market. We producers or by an advertising agency
need confident outgoing people to do fact-finding mission /fkt
our face-to-face selling. fand m()n/ noun a visit by a per-
face value /fes vlju/ noun the son or group of people, usually to an-
value written on a coin, banknote or other country, to obtain information
share certificate about a specific issue The minister
travellers cheques cost 1% of their face value went on a fact-finding tour of the region.
some banks charge more for small amounts factor /fkt/ noun 1. something
[Sunday Times]
which is important or which is taken
facia /fe/ noun another spelling of into account when making a decision
fascia The drop in sales is an important factor
facilities /fsltiz/ plural noun ser- in the companys lower profits. Moti-
vices, equipment or buildings which vation was an important factor in draw-
make it possible to do something ing up the new pay scheme. 2. a person
There are no facilities for unloading or who sells for a business or another per-
there are no unloading facilities. Our son and earns a commission verb to
storage facilities are the best in the re- buy debts from a company at a discount
gion. Transport facilities in the area factors buy invoices from a company,
are not satisfactory. There are no fa- which then gets an immediate cash advance
representing most of their value. The balance is
cilities for disabled visitors. paid when the debt is met. The client company is
facility /fslt/ noun 1. the total charged a fee as well as interest on the cash
amount of credit which a lender will al- advanced [Times]
low a borrower 2. US a single large factorage /fktrd/ noun a com-
building We have opened our new mission earned by a factor What per-
warehouse facility. centage is the factorage?
facing /fes/ adjective opposite factor analysis /fkt nlss/
facing matter /fes mt/, fac- noun a process of identifying key fac-
ing text matter /fes tekst mt/ tors that influence the results in an atti-
noun an advertisement on a page oppo- tude research programme
site to one containing editorial matter
factoring 107 falling market

factoring /fktr/ noun the busi- some items imported from their trading
ness of buying debts at a discount partners
factoring agent /fktr fall /fl/ noun a sudden drop or loss of
ednt/ noun a person who sells for a value a fall in the exchange rate a
business or another person and earns a fall in the price of gold a fall on the
commission Stock Exchange Profits showed a
factoring charges /fktr 10% fall. verb 1. to drop suddenly to
tdz/ plural noun the cost of sell- a lower price Shares fell on the mar-
ing debts to a factor for a commission ket today. Gold shares fell 10% or fell
factory /fkt()ri/ noun a building 45 cents on the Stock Exchange. The
where products are manufactured a price of gold fell for the second day run-
car factory a shoe factory The com- ning. The pound fell against the euro.
pany is proposing to close three of its 2. to happen or to take place The pub-
factories with the loss of 200 jobs. lic holiday falls on a Tuesday. pay-
ments which fall due payments which
factory gate price /fkt()r "et are now due to be made
pras/ noun the actual cost of manufac- market analysts described the falls in
turing goods before any mark-up is the second half of last week as a
added to give profit (NOTE: The factory technical correction to the market
gate price includes direct costs such [AustralianFinancial Review]
as labour, raw materials, and energy, for the first time since mortgage rates
and indirect costs such as interest on began falling in March a financial institution
loans, plant maintenance or rent.) has raised charges on homeowner loans
[Globe and Mail (Toronto)]
factory outlet /fkt()r atlet/ interest rates were still falling as late as June,
noun a shop where merchandise is sold and underlying inflation remains below the
direct to the public from the factory, governments target of 2.5 per cent
usually at wholesale prices [Financial Times]
factory unit /fkt()ri junt/ noun fall away /fl we/ verb to become
a single building on an industrial estate less Hotel bookings have fallen away
fact sheet /fkt it/ noun a sheet of since the tourist season ended.
paper giving information about a prod- fall back /fl bk/ verb to become
uct or service which can be used for lower or cheaper after rising in price
publicity purposes Shares fell back in light trading.
fad /fd/ noun a short-lived fashion or fall back on /fl bk n/ verb to
craze have to use something kept for emer-
failure /felj/ noun not doing some- gencies to fall back on cash reserves
thing which you promised to do The management fell back on the
failure fee /felj fi/ noun a fee usual old excuses.
charged by a distributor to the manufac- fall-back price /fl bk pras/
turer of a product whose sales are less noun the lowest price which a seller will
than those agreed in advance accept The buyer tries to guess the
fair /fe/ noun same as trade fair sellers fall-back price. The fall-back
The computer fair runs from April 1st to price must not be any lower or there
6th. adjective honest or correct wont be any profit in the deal.
fair deal /fe dil/ noun an arrange- fall behind /fl bhand/ verb to be
ment where both parties are treated late in doing something They fell be-
equally The workers feel they did not hind with their mortgage repayments.
get a fair deal from the management. falling /fl/ adjective which is be-
fair price /fe pras/ noun a good coming smaller or dropping in price
price for both buyer and seller falling profitability means falling share
prices [Investors Chronicle]
fair trade /fe tred/ noun an interna-
tional business system where countries falling market /fl mkt/ noun
agree not to charge import duties on a market where prices are coming down
falling pound 108 fax

falling pound /fl pand/ noun aging will make for a clear company
the pound when it is losing its value image.
against other currencies fancy goods /fnsi "dz/ plural
fall off /fl f/ verb to become noun small attractive items
lower, cheaper or less Sales have fascia /fe/, facia noun 1. a board
fallen off since the tourist season ended. over a shop on which the name of the
fall out /fl at/ verb the bottom shop is written 2. a board above an exhi-
has fallen out of the market sales have bition stand on which the name of the
fallen below what previously seemed to company represented is written
be their lowest point fast /fst/ adjective, adverb quick or
fall through /fl ru/ verb not to quickly The train is the fastest way of
happen or not to take place The plan getting to our suppliers factory.
fell through at the last moment. Home computers sell fast in the
pre-Christmas period.
false /fls/ adjective not true or not
correct to make a false claim for a fast food /fst fd/ noun food that
product can be cooked and sold quickly to cus-
tomers, often using franchises, e.g. ham-
false claim /fls klem/ noun an un- burgers and pizzas
true or exaggerated claim made in the
advertising of a product A voluntary fastmarketing /fstmkt/
control body was set up to discourage noun the concept of concentrating all
false claims in the advertising business. promotions into a short space of time, so
that customers cannot avoid being
false weight /fls wet/ noun affected
weight on a shop scales which is wrong fastmarketing tactics mark a radical
and so cheats customers departure from more traditional marketing.
falsification /flsfke()n/ noun Instead of dotting commercials over a 4 or 5
week campaign, fastmarketers try to squeeze
the act of making false entries in them into just a few days [Times]
fast-moving consumer goods
falsify /flsfa/ verb to change /fst muv knsjum "dz/ plu-
something to make it wrong They ral noun essential low-price goods
were accused of falsifying the accounts. which get repeat orders He couldnt
family /fm()li/ noun 1. a group of work in FMCGs because his only expe-
products which are linked by a brand rience was in industrial selling. Abbr
name or by their packaging 2. a group of FMCGs
people, formed of parents and children fast-selling item /fst sel
family branding /fm()li atmz/ noun an item which sells
brnd/ noun the practice of selling a quickly
variety of different products under the favourable /fev()rb()l/ adjective
same brand name which gives an advantage (NOTE: the
family life cycle /fm()li laf American spelling is favorable) on
sak()l/ noun the stages through favourable terms on specially good
which consumers pass in their lives, as terms The shop is let on very favour-
they have families, e.g. young singles, able terms.
young marrieds, young couples with favourable balance of trade
small children, couples with adoles- /fev()rb()l blns v tred/
cent children still at home and retired noun a situation where a countrys ex-
couples, which correspond to different ports are larger than its imports
types of buying behaviour fax /fks/ noun 1. a system for sending
family packaging /fm()li the exact copy of a document via tele-
pkd/ noun the practice of selling phone lines Can you confirm the
a whole range of products in similar booking by fax? 2. a document sent by
packaging We hope that family pack- this method We received a fax of the
faxback 109 field work

order this morning. verb to send a tivity which allows adjustments to be

message by fax The details of the of- made to the way it is done in future
fer were faxed to the brokers this morn- We are getting positive feedback about
ing. Ive faxed the documents to our our after-sales service. It would be
New York office. useful to have some feedback from peo-
faxback /fksbk/ noun a system of ple who had a test drive but didnt buy
responding by fax, e.g. by downloading the car. Are we getting any feedback
pages from a website direct to a fax ma- on customer reaction to our new
chine, or where customers dial a fax product?
number and get a fax back on their fax the service is particularly useful when we are
machine working in a crisis management area and we
need fast feedback from consumers [PR Week]
fear /f/ noun the feeling of being
afraid field /fild/ noun in the field outside
fear appeal /f pil/ noun an ad- the office, among the customers We
vertising message that makes the reader have sixteen reps in the field. first in
anxious about something, especially the field being the first company to
about not doing something bring out a product or to start a service
Smith Ltd has a great advantage in
feasibility report /fizblti r- being first in the field with a reliable
pt/ noun a document which says if it electric car.
is worth undertaking something
field of experience /fild v k-
feasibility study /fizblti
sprns/ noun the general experience
st di/ noun the careful investigation of
a project to see whether it is worth un- that a sender and receiver of a message
dertaking We will carry out a feasibil- use in considering the message
ity study to decide whether it is worth field research /fild rs&t/, field
setting up an agency in North America. work /fild w&k/ noun looking for in-
feasibility test /fizblti test/ formation that is not yet published and
noun a test to see if something is must be obtained in surveys They had
possible to do a lot of fieldwork before they
found the right market for the product.
feature /fit/ noun an article in a
Field research is carried out to gauge
newspaper or magazine that deals with
one subject in depth There is a feature potential demand.
in the next issue describing the history field sales force /fild selz fs/
of our company. noun salespeople working outside the
features /fitz/ plural noun the par- companys offices, in the field After
ticular important aspects of a product or working for a year in the field sales
service which are advertised as an at- force, she became field sales manager.
traction to the purchaser, as opposed to The field sales force operates in three
benefits which show how the product main areas.
or service will improve the quality of field sales manager /fild selz
life of the purchaser mnd/ noun the manager in charge
Federal Trade Commission of a group of salespeople
/fed()rl tred km()n/ noun a field trials /fild tralz/, field tests
federal agency established to keep busi- /fild tests/ plural noun a test of a new
ness competition free and fair product or of something such as an ad-
feed /fid/ verb to give information or vertisement on real customers
tips to another salesperson regarding field work /fild w&k/ noun 1. an
promising customers or areas for sales examination of the situation among pos-
I can feed you some interesting sales sible customers They had to do a lot
leads. (NOTE: feeding- fed)
of field work to find the right market for
feedback /fidbk/ noun informa- the product. 2. same as field research
tion, especially about the result of an ac-
filing system 110 fine

filing system /fal sstm/ noun ment trust or insurance company whose
a way of putting documents in order for work involves lending or investing large
easy reference sums of money
filler /fl/ noun something which fills financially /fnnli/ adverb re-
a space garding money a company which is
filter question /flt kwestn/ financially sound a company which is
noun a question in a questionnaire de- profitable and has strong assets
signed to separate respondents who are financial position /fannl p-
worth questioning further from those z()n/ noun the state of a persons or
who are not companys bank balance in terms of as-
finance /fanns/ noun money used sets and debts She must think of her fi-
by a company, provided by the share- nancial position.
holders or by loans Where will they
get the necessary finance for the pro-
financial resources /fannl r-
ject? verb to provide money to pay zsz/ plural noun supply of money
for something They plan to finance for something a company with strong
the operation with short-term loans. financial resources
an official said that the company began to financial risk /fannl rsk/
experience a sharp increase in demand for noun the possibility of losing money
longer-term mortgages at a time when the flow The company is taking a considerable
of money used to finance these loans
diminished [Globe and Mail] financial risk in manufacturing 25 mil-
lion units without doing any market re-
Finance Act /fanns kt/ noun search. There is always some
GB an annual Act of Parliament which
financial risk in selling on credit.
gives the government the power to ob-
tain money from taxes as proposed in financial statement /fannl
the Budget stetmnt/ noun a document which
finance department /fanns d- shows the financial situation of a com-
ptmnt/, finance committee pany The accounts department has
/fanns kmti/ noun the depart- prepared a financial statement for the
ment or committee which manages the shareholders.
money used in an organisation Financial Times Index /fannl
finance market /fanns mkt/ tamz ndeks/ noun an index which
noun a place where large sums of shows percentage rises or falls in share
money can be lent or borrowed prices on the London Stock Exchange
finances /fannsz/ plural noun based on a small group of major
money or cash which is available the companies
bad state of the companys finances financier /fannsi/ noun a person
financial /fannl/ adjective con- who lends large amounts of money to
cerning money companies or who buys shares in com-
panies as an investment
financial advertising /fannl
dvtaz/ noun advertising by com- financing /fanns/ noun the act
panies in the field of financial of providing money for a project The
investment financing of the project was done by two
financial audit /fannl dt/ international banks.
noun an examination of the books and find time /fand tam/ noun the time
accounts of an advertising agency taken by a customer to find what he or
financial correspondent /fa- she wants in a store
nnl krspndnt/ noun a jour- fine /fan/ adverb very thin or very
nalist who writes articles on money mat- small we are cutting our margins
ters for a newspaper very fine we are reducing our margins
financial institution /fannl to the smallest possible amount
sttju()n/ noun a bank, invest-
finished goods 111 fixed position

finished goods /fnt "dz/ noun first mover /f&st muv/ noun a
manufactured goods which are ready to person or company that is the first to
be sold launch a product in a market
fire-fight /fa fat/ verb to fight bad first mover advantage /f&st
publicity for a client The agency has muv dvntd/ noun the advan-
done fire-fighting work for the egg tage a company gets in being the first to
producers. enter a market
fire sale /fa sel/ noun 1. a sale of first-run syndication /f&st r n
fire-damaged goods 2. a sale of any- sndke()n/ noun material produced
thing at a very low price specifically for the syndication market
firm /f&m/ noun a company, business fishy-back freight /fi bk fret/
or partnership a manufacturing firm noun US the transportation of trucks or
an important publishing firm Shee is a freight-train cars on ferries or barges
partner in a law firm. adjective 1. (NOTE: compare piggy-back freight)
which cannot be changed to make a fix /fks/ verb 1. to arrange or to agree
firm offer for something to place a to fix a budget to fix a meeting for 3
firm order for two aircraft 2. not drop- p.m. The date has still to be fixed.
ping in price and possibly going to rise The price of gold was fixed at $300.
Sterling was firmer on the foreign ex- The mortgage rate has been fixed at 5%.
change markets. Shares remained 2. to mend The technicians are com-
firm. verb to remain at a price and ing to fix the phone system. Can you
seem likely to rise The shares firmed fix the photocopier?
at 1.50. coupons are fixed by reference to interest
rates at the time a gilt is first issued
some profit-taking was noted, but underlying
[Investors Chronicle]
sentiment remained firm [Financial Times]
fixed /fkst/ adjective unable to be
firm price /f&m pras/ noun a price changed or removed
which will not change They are quot-
ing a firm price of $1.23 a unit. fixed assets /fkst sets/ plural
noun property or machinery which a
firm up /f&m  p/ verb to agree on fi- company owns and uses, but which the
nal details We expect to firm up the company does not buy or sell as part of
deal at the next trade fair. its regular trade, including the com-
first choice /f&st ts/ noun a pro- panys investments in shares of other
spective customer who chooses the first companies
option available, as opposed to a fixed break /fkst brek/ noun the
tyrekicker who wants to examine ev- placing of a television or radio adver-
ery option before coming to a decision tisement in a specific commercial break
first-hand /f&st hnd/ adjective 1. on a specific day, at the advertisers
coming directly from the original source insistence
2. new or unused I actually bought the fixed costs /fkst ksts/ plural noun
TV first-hand, but at a second-hand business costs which do not change with
price. the quantity of the product made
first-hand information /f&st fixed expenses /fkst kspensz/
hnd nfme()n/ noun information plural noun expenses which do not vary
from an original source We had a with different levels of production, e.g.
first-hand account of what happened at rent, secretaries salaries, insurance
the sales meeting from one of the fixed-fee arrangement /fkst fi
salesreps who was there. rendmnt/ noun a way of agreeing
first-line management /f&st lan the fees for an agency before the agency
mndmnt/ noun the managers who starts work on a project
have immediate contact with the fixed position /fkst pz()n/
workforce noun the placing of an advertisement in
a specific location in a publication, or
fixed-price agreement 112 fly poster

running a commercial at a fixed time of flood /fl d/ noun a large quantity

day, at the advertisers insistence We received a flood of orders. Floods
fixed-price agreement /fkst of tourists filled the hotels. verb to fill
pras "rimnt/ noun an agreement with a large quantity of something
where a company provides a service or a The market was flooded with cheap imi-
product at a price which stays the same tations. The sales department is
for the whole period of the agreement flooded with orders or with complaints.
floor /fl/ noun 1. the part of the room
fixed rate /fkst ret/ noun a rate, which you walk on 2. all rooms on one
e.g. an exchange rate, which does not level in a building The shoe depart-
change ment is on the first floor. Her office is
you must offer shippers and importers fixed
rates over a reasonable period of time
on the 26th floor. (NOTE: In Britain the
[Lloyds List] floor at street level is the ground floor,
but in the USA it is the first floor. Each
fixed scale of charges /fkst floor in the USA is one number higher
skel v tdz/ noun a rate of than the same floor in Britain.)
charging which does not change
floor manager /fl mnd/
fixed spot /fkst spt/ noun the noun US a person in charge of the sales
placing of a TV or radio commercial in staff in a department store
a specific position, at the advertisers floor space /fl spes/ noun an area
insistence of floor in an office or warehouse We
fixing /fks/ noun arranging the have 3,500 square metres of floor space
fixing of charges the fixing of a mort- to let.
gage rate floor stand /fl stnd/ noun a dis-
flagship /fl"p/ noun the key play stand which stands on the floor, as
product in a range, on which the reputa- opposed to one which stands on a table
tion of the producer most depends or counter
flagship store /fl"p st/, flag- floorwalker /flwk/ noun an em-
ship hotel /fl"p htel/ noun the ployee of a department store who ad-
main store or hotel in a chain vises customers, and supervises the shop
flash pack /fl pk/ noun a pack assistants in a department
or package which shows a price reduc- flop /flp/ noun a failure or something
tion very clearly in order to attract cus- which has not been successful The
tomers Flash packs are displayed at new model was a flop. verb to fail or
eye-level on the supermarket shelves to not be a success The launch of the
attract the attention of passing new shampoo flopped badly. (NOTE:
customers. flopping flopped)
flat rate /flt ret/ noun a charge flowchart /fltt/, flow diagram
which always stays the same a /fl da"rm/ noun a chart which
flat-rate increase of 10% We pay a shows the arrangement of work pro-
flat rate for electricity each quarter. cesses in a series fluff it and fly it (in-
He is paid a flat rate of 2 per thousand. formal ) give a product an attractive

appearance and then sell it

flier /fla/ noun a promotional leaflet
fluidity /fludti/ noun ease of move-
flight /flat/ verb to arrange a schedul- ment or change
ing pattern for something fluidity of labour /fludti v
flighting by number /flat ba leb/ noun the extent to which em-
n mb/ noun scheduling things in a se- ployees move from one place to another
ries of groups, with the same number in to work or from one occupation to
each group another
floating population /flt fly poster /fla pst/ noun a
ppjle()n/ noun people who move poster which is pasted to a site without
from place to place permission and without being paid for
fly-posting 113 foreign currency account

fly-posting /fla pst/ noun the forced consumption /fst

practice of sticking posters up illegally, kns mpn/ noun the attempt to im-
without permission of the site owner pose a rate or type of consumption on
and without making any payment consumers
FMCGs abbr fast-moving consumer force down /fs dan/ verb to
goods make something such as prices become
focus group /fks "rup/ noun lower to force prices down to make
a group of people who are brought prices come down Competition has
together to discuss informally a forced prices down.
market-research question forced sale /fst sel/ noun a sale
fold-out /fld at/ noun a folded which takes place because a court orders
page in a publication, which opens out it or because it is the only way to avoid a
to show a much larger advertisement financial crisis
follow /fl/ verb to come behind or force majeure /fs m&/ noun
to come afterwards The samples will something which happens which is out
follow by surface mail. We will pay of the control of the parties who have
10,000 down, with the balance to fol- signed a contract, e.g. a strike, war or
low in six months time. storm
follower /fl/ noun a company force up /fs  p/ verb to make
which follows others into a market something become higher to force
following reading matter prices up to make prices go up The
/fl rid mt/ noun a good war forced up the price of oil.
position for an advertisement, which forecast /fkst/ noun a descrip-
follows an interesting article in a news- tion or calculation of what will probably
paper or magazine happen in the future The chairman did
follow up /fl p/ verb to examine not believe the sales directors forecast
something further Ill follow up your of higher turnover. verb to calculate
idea of targeting our address list with a or to say what will probably happen in
special mailing. to follow up an ini- the future We are forecasting sales of
tiative to take action once someone else 2m. Economists have forecast a fall
has decided to do something in the exchange rate. (NOTE: forecast-
ing forecast)
font /fnt/ noun a set of characters all
of the same size and face forecasting /fkst/ noun calcu-
lating what will probably happen in the
foot /ft/ verb to foot the bill to pay future Manpower planning will de-
the costs pend on forecasting the future levels of
footfall /ftfl/ noun the number of production.
customers who come into and walk foreign /frn/ adjective not belong-
round a shop ing to your own country Foreign cars
the small independent retailer who stocks up
using cash and carries could be hit hard by the have flooded our market. We are in-
loss of footfall associated with any increase in creasing our trade with foreign
smuggled goods [The Grocer] countries.
force /fs/ noun 1. strength to be in a sharp setback in foreign trade accounted
for most of the winter slowdown [Fortune]
force to be operating or working The
rules have been in force since 1986. to the dollar recovered a little lost ground on
the foreign exchanges yesterday
come into force to start to operate or [Financial Times]
work The new regulations will come
into force on January 1st. 2. a group of foreign currency /frn k rnsi/
people verb to make someone do noun money of another country
something Competition has forced the foreign currency account /frn
company to lower its prices. After the k rnsi kant/ noun a bank account
takeover several of the managers were in the currency of another country, e.g. a
forced to take early retirement. dollar account in a British bank
foreign currency reserves 114 forward integration

foreign currency reserves /frn form /fm/ noun 1. form of words

k rnsi rz&vz/ plural noun a coun- words correctly laid out for a legal doc-
trys reserves held in currencies of other ument receipt in due form a correctly
countries written receipt 2. official printed paper
the treasury says it needs the cash to rebuild with blank spaces which have to be
its foreign reserves which have fallen from $19 filled in with information You have to
billion when the government took office to $7 fill in form A20. Each passenger was
billion in August [Economist]
given a customs declaration form. The
foreigner /frn/ noun a person reps carry pads of order forms.
from another country forma /fm/ noun pro forma
a sharp setback in foreign trade accounted
for most of the winter slowdown [Fortune] format /fmt/ noun 1. the general
page design or size of a publication 2.
foreign exchange market1 /frn the general style of an email or elec-
kstend mkt/ noun dealings in tronic marketing piece
foreign currencies She trades on the
foreign exchange market. Foreign ex-
form utility /fm jutlti/ noun a
use for a product created by the intro-
change markets were very active after
duction of the product
the dollar devalued.
forty-eight sheet /fti et it/
foreign exchange market2 noun noun a large poster-sized sheet of paper
market where people buy and sell for-
eign currencies forum /frm/ noun an online area
where Internet users can read, post, and
foreign exchange reserves /- respond to messages
frn kstend rz&vz/ plural
noun foreign money held by a govern- forward /fwd/ adjective in ad-
ment to support its own currency and vance or to be paid at a later date ad-
pay its debts verb to date a cheque forward to put
a later date than the present one on a
foreign exchange transfer /frn cheque verb to forward something
kstend trnsf&/ noun the send- to someone to send something to some-
ing of money from one country to one to forward a consignment to Ni-
another geria please forward or to be
foreign goods /frn "dz/ plural forwarded words written on an enve-
noun goods manufactured in other lope, asking the person receiving it to
countries send it on to the person whose name is
foreign investments /frn n- written on it
vestmnts/ plural noun money in- forward contract /fwd
vested in other countries kntrkt/ noun a one-off agreement
to buy foreign currency or shares or
forfeit /fft/ noun the taking away
commodities for delivery at a later date
of something as a punishment the
at a specific price
goods were declared forfeit the court
said that the goods had to be taken away forwarding /fwd/ noun the act
from the person who was holding them of arranging shipping and customs
verb to have something taken away as documents
a punishment to forfeit a deposit to forwarding address /fwd
lose a deposit which was left for an item dres/ noun the address to which a per-
because you have decided not to buy sons mail can be sent on
that item forwarding agent /fwd
forfeit clause /fft klz/ noun a ednt/ noun a person or company
clause in a contract which says that which arranges shipping and customs
goods or a deposit will be taken away if documents
the contract is not obeyed forward integration /fwd nt-
forfeiture /fft/ noun the act of "re()n/ noun a process of expansion
forfeiting a property in which a company becomes its own
forward market 115 franchise chain

distributor or takes over a company in marketing mix, which are Product,

the same line of business as itself For- Price, Promotion and Place
ward integration will give the company fraction /frkn/ noun a part of a
greater control over its selling. For- whole
ward integration has brought the com-
pany closer to its consumers and has fragile /frdal/ adjective which can
made it aware of their buying habits. be easily broken There is an extra
Compare backward integration premium for insuring fragile goods in
forward market /fwd mkt/ fragment /fr"ment/ verb to split
noun a market for purchasing foreign into sections
currency, oil or commodities for deliv- the consumer market is fragmenting, which
ery at a later date. These are one-off means that brand advertising to the whole
deals, as opposed to futures contracts market is no longer enough [Financial Times]
which are continuous. fragmentation /fr"mnte()n/
forward price /fwd pras/ noun noun the use of a variety of media for a
a price of goods which are to be deliv- publicity campaign
ered in the future fragmented market /fr"mentd
forward (exchange) rate /fwd mkt/ noun a market which is split
kstend ret/ noun a rate for pur- into many small segments, which are
chase of foreign currency at a fixed more difficult to sell into
price for delivery at a later date What frame /frem/ noun same as sampling
are the forward rates for the pound? frame
forward sales /fwd selz/ plural franchise /frntaz/ noun a licence
noun the sales of shares, commodities to trade using a brand name and paying
or foreign exchange for delivery at a a royalty for it Hes bought a printing
later date franchise or a pizza franchise. verb to
foul bill of lading /fal bl v sell licences for people to trade using a
led/ noun a bill of lading which says brand name and paying a royalty His
that the goods were in bad condition sandwich bar was so successful that he
when received by the shipper decided to franchise it.
many new types of franchised businesses
four-colour process /f k l will join the ranks of the giant chains of
prses/ noun a printing process fast-food restaurants, hotels and motels and
where the three primary colours and rental car agencies [Franchising Opportunities]
black are used to create a wide range of a quarter of a million Britons are seeking to
shades become their own bosses by purchasing
franchises [Marketing Week]
four Cs /f siz/ plural noun a simple feelings are already running high over the
way of referring to the four important question of how to allocate the next TV
points regarding customers: value to the franchises [Marketing]
Customer, Cost, Convenience for the franchise agreement /frntaz
customer and Communication between "rimnt/, franchise contract
seller and buyer /frntaz kntrkt/ noun a legal
four Os /f z/ plural noun a sim- contract to trade using a brand name and
ple way of summarizing the essentials paying a royalty for it
of a marketing operation, which are Ob- franchise-building promotion
jects, Objectives, Organisation and /frntaz bld pr-
Operations m()n/noun a sales promotion
four-plus cover /f pl s k v/ aimed at building up long-term repeat
noun a situation where consumers in the sales and customer loyalty
target audience will have seen an adver- franchise chain /frntaz ten/
tisement at least four times on average noun a series of retail stores or fast-food
four Ps /f piz/ plural noun a simple outlets which are operated as franchises
way of summarising the essentials of the from the main operator
franchisee 116 freephone

franchisee /frntazi/ noun a free advertisement for the charity on the

person who runs a franchise back page.
franchiser /frntaz/ noun a per- freebie /fribi/ noun a product or ser-
son who licenses a franchise vice supplied free of charge, especially a
franchising /frntaz/ noun the gift to an agent or journalist (informal )

act of selling a licence to trade as a fran- free collective bargaining /fri

chise He runs his sandwich chain as a klektv b"n/ noun negotiations
franchising operation. between management and trade unions
about wage increases and working
franchisor /frntaz/ noun an- conditions
other spelling of franchiser
free competition /fri kmp-
franco /frk/ adverb free t()n/ noun being free to compete
fraudulent misrepresentation without government interference
/frdjlnt msreprzente()n/ free currency /fri k rnsi/ noun a
noun the act of making a false statement currency which is allowed by the gov-
with the intention of tricking a customer ernment to be bought and sold without
free /fri/ adjective, adverb 1. not cost- restriction
ing any money I have been given a free delivery area /fri dlv()ri
free ticket to the exhibition. The price eri/ noun an area within which a
includes free delivery. All goods in the seller will deliver purchases free The
store are delivered free. A catalogue total price will be low as the goods are
will be sent free on request. free being delivered in a free delivery area.
alongside ship referring to a price that
includes all costs up to delivery of
free enterprise /fri entpraz/
noun a system of business free from
goods next to the ship on the quay
government interference
free docks referring to a price that in-
cludes all costs up to delivery of goods free gift /fri "ft/ noun a present
to the docks free of charge with no given by a shop to a customer who buys
payment to be made free on quay re- a specific amount of goods There is a
ferring to a price that includes all costs free gift worth 25 to any customer buy-
up to delivery of goods next to the ship ing a washing machine.
on the quay free overboard or free free market /fri mkt/ noun a
overside referring to a price that in- market in which there is no government
cludes all costs up to arrival of the ship control of supply and demand, and the
at a port 2. with no restrictions free of rights of individuals and organisations
tax with no tax having to be paid in- to physical and intellectual property are
terest is paid free of tax free of duty upheld
with no duty to be paid to import wine free market economy /fri mkt
free of duty 3. not busy or not occupied knmi/ noun a system where the
Are there any free tables in the res- government does not interfere in busi-
taurant? I shall be free in a few min- ness activity in any way
utes. The chairman always keeps
Friday afternoon free for a game of free on board /fri n bd/ 1. in-
bridge. verb to make something avail- cluding in the price all the sellers costs
able or easy The governments deci- until the goods are on the ship for trans-
sion has freed millions of pounds for portation. Abbr f.o.b. 2. including in the
investment. price all the sellers costs until the goods
American business as a whole is increasingly
are delivered to a place
free from heavy dependence on manufacturing free paper /fri pep/ noun a news-
[Sunday Times] paper which is given away free, and
free advertisement /fri d- which relies for its income on its
v&tsmnt/ noun an advertisement advertising
shown without any charge to the adver- freephone /frifn/, freefone noun
tiser The newspaper agreed to place a a system where you can telephone to re-
free port 117 frequency discount

ply to an advertisement, to place an or- to take on freight to load goods onto

der or to ask for information and the a ship, train or truck verb to freight
seller pays for the call goods to send goods We freight goods
free port /fri pt/ noun a port to all parts of the USA.
where there are no customs duties to be freightage /fretd/ noun the cost
paid of transporting goods
freepost /fripst/ noun a system freight collect /fret klekt/ noun
where someone can write to an adver- US an arrangement whereby the cus-
tiser to place an order or to ask for infor- tomer pays for transporting the goods
mation to be sent, without paying for a freight costs /fret ksts/ plural
stamp. The company paying for the noun money paid to transport goods
postage on receipt of the envelope. freight depot /fret dep/ noun a
free sample /fri smpl/ noun a central point where goods are collected
sample given free to advertise a product before being shipped
free-standing insert /fri stnd freight elevator /fret elvet/
ns&t/ noun advertising material on noun a strong lift for carrying goods up
one or more pages which is inserted into and down inside a building
a newspaper. Abbr FSI freighter /fret/ noun 1. an aircraft
free trade /fri tred/ noun a system or ship which carries goods 2. a person
where goods can go from one country to or company that organiess the transport
another without any restrictions of goods
can free trade be reconciled with a strong freight forward /fret fwd/ noun
dollar resulting from floating exchange rates?
[Duns Business Month] a deal where the customer pays for
transporting the goods
free trader /fri tred/ noun a per-
son who is in favour of free trade freight forwarder /fret fwd/
free traders hold that the strong dollar is the noun a person or company that arranges
primary cause of the nations trade problems shipping and customs documents for
[Duns Business Month] several shipments from different compa-
free trade zone /fri tred zn/ nies, putting them together to form one
noun an area where there are no cus- large shipment
toms duties the airline will allow freight forwarder
customers to track and trace consignments on
free trial /fri tral/ noun an oppor- the airlines website [Lloyds List]
tunity to test a machine or product with freight plane /fret plen/ noun an
no payment involved aircraft which carries goods, not
freeware /friwe/ noun free soft- passengers
ware programs frequency /frikwns/ noun 1. the
freeze /friz/ verb to keep something number of times something happens 2.
such as money or costs at their present the number of times an advertisement
level and not allow them to rise to appears in a specific period The plan
freeze wages and prices to freeze is to have larger advertisements but less
credits to freeze company dividends frequency. 3. the number of times a per-
We have frozen expenditure at last son sees an advertisement during a cam-
years level. (NOTE: freezing froze paign We feel that a frequency of two
has frozen) showings per night is enough for the
freeze out /friz at/ verb to first week of the campaign.
freeze out the competition to trade suc- frequency analysis /frikwnsi -
cessfully and cheaply and so prevent nlss/ noun analysis of frequency
competitors from operating distribution statistics
freight /fret/ noun 1. the cost of frequency discount /frikwnsi
transporting goods by air, sea or land dskant/ noun reduced rates offered
At an auction, the buyer pays the for frequent use of a advertising
freight. 2. goods which are transported medium
frequency distribution 118 full cover

frequency distribution front end /fr nt end/ noun the part

/frikwnsi dstrbju()n/ noun of an organisation that meets and deals
statistics, usually in the form of a graph, with customers face-to-face
showing how often a sample group re- front-line management /fr nt
sponded in a certain way to a lan mndmnt/ noun managers
questionnaire who have immediate contact with the
frequent /frikwnt/ adjective which workers
comes, goes or takes place often frontload /fr ntlod/ verb to plan a
There is a frequent ferry service to publicity campaign where most costs
France. We send frequent faxes to are incurred in the early stages. Com-
New York. How frequent are the pare backload
planes to Birmingham?
front man /fr nt mn/ noun a per-
frequently /frikwntli/ adverb of- son who seems honest but is hiding an
ten The photocopier is frequently out illegal trade
of use. We email our New York office
frequently at least four times a day. front of book /fr nt v bk/ noun
the first few pages of a magazine
fringe account /frnd kant/
noun accounts or customers that are not FSI abbr free-standing insert
very profitable for the supplier The fudge /f d/ noun a mistake made in
salespeople are not giving priority to an advertisement
these fringe accounts. It is hoped that fulfil /flfl/ verb to complete some-
some of these fringe accounts will soon thing in a satisfactory way The clause
start buying in larger quantities. regarding payments has not been ful-
fringe benefit /frnd benft/ noun filled. (NOTE: the American spelling is
an extra item given by a company to fulfill) to fulfil an order to supply the
employees in addition to their salaries, items which have been ordered We
e.g. a company car, private health are so understaffed that we cannot fulfil
insurance any more orders before Christmas.
fringe benefits /frnd benftz/ fulfilment /flflmnt/ noun carry-
plural noun extra items given by a com- ing something out in a satisfactory way
pany to workers in addition to a salary, (NOTE: the American spelling is
e.g. company cars or private health in- fulfillment)
surance The fringe benefits make up fulfilment house /flflmnt has/
for the poor pay. Use of the company noun a company which supplies orders
recreation facilities is one of the fringe on behalf of a mail-order company
benefits of the job.
full /fl/ adjective 1. complete, includ-
fringe time /frnd tam/ noun TV ing everything we are working at full
time around primetime where there is capacity we are doing as much work as
usually more availability possible 2. in full completely Give
front /fr nt/ noun a part of something your full name and address or your
which faces away from the back The name and address in full. He accepted
front of the office building is on the all our conditions in full. Full refund
High Street. Our ad appeared on the or refund paid in full.
front page of the newspaper. There is full cost pricing /fl kst pras/
a photograph of the managing director noun a pricing method based on assess-
on the front page of the company report. ing the full production cost of each
frontage /fr ntd/ noun the width product unit and adding a profit margin
of a shop which faces onto the street full costs /fl ksts/ plural noun all
front cover /fr nt k v/ noun the the costs of manufacturing a product, in-
front outside page of a publication, as cluding both fixed and variable costs
opposed to the back cover full cover /fl k v/ noun insurance
cover against all risks
full employment 119 futurology

full employment /fl mplmnt/ week Shes in full-time work or She

noun a situation where all the people works full-time or Shes in full-time em-
who can work have jobs ployment. He is one of our full-time
full-function wholesaler /fl staff.
f k()n hlsel/ noun a distribu- full-timer /fl tam/ noun a person
tor performing all the normal functions who works full-time
of a wholesaler such as storage and
transport There is room for only one function /f kn/ noun a duty or
full-function wholesaler dealing with job verb to work The advertising
this product in the Southampton area. campaign is functioning smoothly.
The new management structure does not
full-line forcing /fl lan fs/ seem to be functioning very well.
noun a situation where a supplier pres-
sures a customer to buy from that sup- functional /f kn()l/ adjective
plier only If the supplier succeeds in which can function properly
full-line forcing, he will probably raise functional consequences /@n()l
prices. knskwensz/ plural noun the tangi-
full nester /fl nest/ noun an older ble effects of a product or service which
customer who has their own home and a customer experiences directly
who is interested in a good quality of functional discount /f kn()l
life, eats in restaurants, buys new gad- dskant/ noun a discount offered on
gets, and is not influenced by advertis- goods sold to distributors
ing. empty nesters functional product differentia-
full page /fl ped/ noun a size of tion /f kn()l prd kt
advertisement taking up one complete dfrenie()n/ noun the process of
page ensuring that a product has some func-
full price /fl pras/ noun a price tional features that distinguish it from
with no discount She bought a competing ones
full-price ticket. functional title /f kn()l
full rate /fl ret/ noun the full tat()l/ noun a job title, the descrip-
charge, with no reductions tion of a persons job which is used as
full repairing lease /fl rper part of his or her address,
lis/ noun a lease where the tenant has to manager or head buyer
pay for all repairs to the property fund /f nd/ noun money set aside for a
full-scale /fl skel/ adjective com- special purpose
plete or very thorough The MD or- small innovative companies have been
hampered for lack of funds [Sunday Times]
dered a full-scale review of credit terms.
the administration launched a full-scale the company was set up with funds totalling
investigation into maintenance procedures NorKr 145m [Lloyds List]
funded debt /f ndd det/ noun the
full-service advertising agency part of the British National Debt which
/fl s&vs dvtaz ednsi/, pays interest, but with no date for repay-
full-service agency /fl s&vs ment of the principal
ednsi/ noun an advertising agency
offering a full range of services such as future /fjut/ adjective referring to
sales promotion, design of house style, time to come or to something which has
advice on public relations and market not yet happened noun the time which
research and creating stands for exhibi- has not yet happened Try to be more
tions We have so little marketing ex- careful in future. In future all reports
pertise, well need a full-service must be sent to Australia by air.
advertising agency. future delivery /fjut dlv()ri/
full-time /fl tam/ adjective, adverb noun a delivery at a later date
working all the normal working time, futurology /fjutrldi/ noun
i.e. about eight hours a day, five days a the prediction and study of future trends
gable end 120 general store

gable end /"eb()l end/ noun the to look for or to find a gap in the mar-
end of a building which is used as a ket This laptop has filled a real gap in
poster site the market.
gain /"en/ noun 1. an increase or be- these savings are still not great enough to
overcome the price gap between American
coming larger gain in experience the products and those of other nations
act of getting more experience gain in [Duns Business Month]
profitability the act of becoming more
profitable 2. an increase in profit, price gap analysis /"p nlss/ noun
or value Oil shares showed gains on analysis of a market to try to find a par-
the Stock Exchange. Property shares ticular area that is not at present being
put on gains of 10%-15%. verb 1. to satisfied Gap analysis showed that
get or to obtain He gained some useful there was a whole area of the market we
experience working in a bank. to gain were not exploiting. The computer
control of a business to buy more than performed a gap analysis and came up
50% of the shares so that you can direct with suggestions for a medium-priced
the business 2. to rise in value The machine suitable for the small business
dollar gained six points on the foreign market.
exchange markets. gatefold /"etfld/ noun a
galleria /"lri/ noun a large double-page spread in which both pages
shopping complex with many different are folded over, and which open out like
stores under one roof, usually built a gate to give a spread of almost four
round a large open space, with foun- pages
tains, plants, etc. general cargo /den()rl k"/
galley /"li/, galley proof /"li/ noun a cargo made up of various types
noun the first proof of typesetting, be- of goods The ship left the port with a
fore the text is made up into pages general cargo bound for various
galloping inflation /"lp n-
fle()n/ noun very rapid inflation General Delivery /den()rl d-
which is almost impossible to reduce lv()ri/ noun US a system where let-
ters can be addressed to someone at a
game /"em/ noun a form of promo- post office, where they can be collected
tional material where people have a They received the mail-order items
chance of winning a prize via General Delivery. (NOTE: British
game theory /"em r/ noun the English is poste restante)
principles, developed from business general preplanning input
games, which relate to making the best /den()rl pripln npt/ noun
choice from a number of possible strate- market research which can be used to
gies in various hypothetical situations prepare the initial stages of an advertis-
where conflicting interests are involved ing campaign
gap /"p/ noun an empty space gap general store /den()rl st/
in the market an opportunity to make a noun a small country shop which sells a
product or provide a service which is large range of goods
needed but which no one has sold before
general trading 121 gift coupon

general trading /den()rl a market are concentrated dispersed in a

tred/ noun dealing in all types of country or area The number of
goods salespersonnel needed will depend on
general wholesaler /den()rl the geographical concentration of the
hlsel/ noun a wholesaler selling a market.
variety of goods geographical information sys-
generation /denre()n/ noun a tem /di"rfk()l nfme()n
stage in the development of a product. sstm/ noun a type of database which
Each new generation is a new version of is sorted on geographical data, such as a
the product with certain technical im- census, or one which provides maps
provements on the preceding version. on-screen. Abbr GIS
Generation X /denre()n eks/ geographical segmentation
noun the generation of people who were /di"rfk()l se"mnte()n/
born between 1963 and 1981 and began noun the division of a market according
their working lives from the 1980s on- to areas or regions
wards (NOTE: The people who belong geographical weighting /di-
to Generation X are said to have chal- "rfk()l wet/ noun a statistical
lenged traditional corporate expecta- process which gives more importance to
tions by not being solely motivated by some geographic areas than others in the
money. Instead they want to establish process of reaching a final figure or
a balance between their professional result
and personal lives, being in favour of
gestation period /deste()n
flexible working practices and valuing
prid/ noun the period of time
opportunities for learning and
between the initial inquiry about a
product and the placing of an order
generic /dnerk/ adjective which The long gestation period is due to
is shared by a group, and does not refer inefficient decision-making procedures
to one individual noun 1. a product in the buying company.
sold without a brand name Generics
GHI abbr guaranteed homes
are cheap since they have no name to
advertise. 2. a brand name which is now
given to a product rather than to a par- ghosting /"st/ noun the practice
ticular brand, e.g. hoover, kleenex or of showing a little of the product itself
thermos by removing a small part of the
generic product /dnerk
prd kt/ noun same as generic GHR abbr guaranteed homes ratings
Next to the brightly packaged branded giant retailer /dant ritel/
goods the generic products on display noun a very large retailing group, e.g. a
were easily overlooked. department store or chain store
gentlemans agreement GIF /"f/ noun a common file format
/dent()lmnz "rimnt/ noun a for web graphics and banners. Full form
verbal agreement between two parties graphic interchange format
who trust each other
GIF89 /"f eti nan/ noun a com-
geocentric stage /disentrk monly used version of GIF
sted/ noun US an advanced stage in a
companys international marketing gift coupon /"ft kupn/, gift to-
ken /"ft tkn/, gift voucher
when there is great co-ordination of
/"ft vat/ noun a card that can be
overseas marketing activities
used to buy specified goods up to the
geographical /di"rfk()l/ ad- value printed on it, often issued by chain
jective referring to an area stores. The person receiving the voucher
geographical concentration is able to redeem it in any store in the
/di"rfk()l knsntre()n/ chain. We gave her a gift token for her
noun the degree to which consumers in birthday.
gift-wrap 122 goods

gift-wrap /"ft rp/ verb to wrap a global product /"lb()l

present in attractive paper Do you prd kt/ noun a product with a fa-
want this book gift-wrapped? (NOTE: mous brand name which is recognised
gift-wrapping- gift-wrapped) and sold all over the world
gimmick /"mk/ noun a clever idea global retailer /"lb()l ritel/
or trick a publicity gimmick noun a company which sells its products
all over the world
give away /"v we/ verb to give
something as a free present We are glue /"lu/ noun something such as in-
giving away a pocket calculator with formation that unifies organisations,
each 10 of purchases. supply chains and other commercial
giveaway /"vwe/ adjective to
sell at giveaway prices to sell at very glut /"l t/ noun a glut of produce
cheap prices noun something which is too much produce, which is then diffi-
given as a free gift when another item is cult to sell a coffee glut or a glut of
bought coffee a glut of money a situation
where there is too much money avail-
giveaway paper /"vwe pep/ able to borrowers verb to fill the mar-
noun a newspaper which is given away ket with something which is then
free, and which relies for its income on difficult to sell The market is glutted
its advertising with cheap cameras. (NOTE: glutting
global /"lb()l/ adjective referring glutted)
to the whole world We offer a 24-hour goal /"l/ noun something which you
global delivery service. try to achieve Our goal is to break
global advertising /"lb()l even within twelve months. The com-
dvtaz/ noun using the same ad- pany achieved all its goals.
vertising message to advertise the same going rate /" ret/ noun the
product internationally usual or current rate of payment We
global brand /"lb()l brnd/ pay the going rate for typists. The go-
noun a famous brand name which is re- ing rate for offices is 10 per square
cognised and sold all over the world metre.
globalisation /"lblaze()n/, gondola /"ndl/ noun a
globalization noun the process of mak- free-standing display in a supermarket
ing something international or world- which shoppers can walk round
wide, especially the process of gone aways /"n wez/ plural
expanding business interests, operations noun people who have moved away
and strategies to countries all over the from the address they have in a mailing
world (NOTE: Globalisation is due to list
technological developments that make good industrial relations /"d
global communications possible, politi- nd stril rle()nz/ plural noun
cal developments such as the fall of a situation where management and
communism and developments in employees understand each others
transportation that make travelling problems and work together for the
faster and more frequent. It can benefit good of the company
companies by opening up new mar- goods /"dz/ plural noun 1. goods
kets, giving access to new raw materi- and chattels moveable personal posses-
als and investment opportunities and sions goods in progress the value of
enabling them to take advantage of goods being manufactured which are
lower operating costs in other coun- not complete at the end of an accounting
tries.) period Our current assets are made
global marketing /"lb()l up of stock, goods in progress, and cash.
mkt/ noun using a common mar- goods sold loose goods sold by
keting plan to sell the same product or weight, not prepacked in bags 2. items
services everywhere in the world which can be moved and are for sale
goods depot 123 green marketing

profit margins are lower in the industries written on a label attached to the prod-
most exposed to foreign competition uct Many consumers do not properly
machinery, transportation equipment and
electrical goods [Sunday Times] understand the grade levels.
the minister wants people buying goods grand /"rnd/ adjective important
ranging from washing machines to houses to grand plan or grand strategy a major
demand facts on energy costs [Times]
plan They explained their grand plan
goods depot /"dz dep/ noun a for redeveloping the factory site.
central warehouse where goods can be noun one thousand pounds or dollars
stored until they are moved (informal ) They offered him fifty

goods train /"dz tren/ noun a grand for the information.

train for carrying freight grand total /"rnd tt()l/ noun
goodwill /"dwl/ noun good feeling the final total made by adding several
towards someone to show goodwill, subtotals
the management increased the terms of grapevine /"repvan/ noun an in-
the offer formal and unofficial communications
GOTS abbr gross opportunity to see network within an organisation that
government contractor passes on information by word of mouth
/" v()nmnt kntrkt/ noun a (NOTE: A grapevine may distort infor-
company which supplies the govern- mation or spread gossip and rumour,
ment with goods by contract but it can also back up the official com-
munications network, provide feed-
government-controlled back and strengthen social
/" vnmnt kntrld/ adjective un-
relationships within the organisation.)
der the direct control of the government
Advertisements cannot be placed in graph /"rf/ noun a diagram which
the government-controlled newspapers. shows the relationship between two sets
government economic indica- of quantities or values, each of which is
tors /" v()nmnt iknmk represented on an axis A graph was
ndketz/ plural noun statistics used to show salary increases in rela-
which show how the countrys economy tion to increases in output. According
is going to perform in the short or long to the graph, as average salaries have
term risen so has absenteeism. We need to
set out the results of the questionnaire in
government organisation a graph.
/" v()nmnt "naze()n/
noun an official body, run by the graphics /"rfks/ plural noun de-
government signs and illustrations in printed work,
especially designs which are created by
grade /"red/ noun a level or rank to computers In this series of advertise-
reach the top grade in the civil service ments the graphics do not do justice to
verb 1. to sort something into different the copy.
levels of quality to grade coal 2. to
make something rise in steps according graph paper /"rf pep/ noun a
to quantity graded advertising rates special type of paper with many little
rates which become cheaper as you take squares, used for drawing graphs
more advertising space gratis /"rts/ adverb free or not
graded hotel /"redd htel/ costing anything We got into the exhi-
noun a good-quality hotel bition gratis.
graded tax /"redd tks/ noun US green issues /"rin sjuz/ plural
1. a tax which rises according to income noun same as environmental
2. a tax on property which is higher if management
the property has not been kept in a good green marketing /"rin mkt/
state by the owner noun marketing products and services
grade level /"red lev()l/ noun the on the basis of their environmental
classification of a products quality acceptability
grey market 124 group

grey market /"re mkt/ noun 1. dollar down on foreign exchange markets
the unofficial legal buying and selling of
scarce, highly priced goods If the gov- gross opportunity to see noun the
ernment puts a ceiling on prices for number of opportunities that an average
these products the grey market will be- member of the target audience will have
come a black market. 2. a market to see the advertisements in an advertis-
formed of people over 60 years of age. ing campaign. Abbr GOTS
silver market gross profit /"rs prft/ noun
grid /"rd/ noun a graph with lines profit calculated as sales income less the
crossing at right angles and items writ- cost of the goods sold, i.e. without de-
ten in the boxes, used for comparison ducting any other expenses
gross /"rs/ adverb with no deduc- gross rating point /"rs ret
tions My salary is paid gross. verb pnt/ noun US a way of calculating the
to make a gross profit The group effectiveness of outdoor advertising,
grossed 25m in 1999. where each point represents one per cent
gross audience /"rs dins/ of the population in a specific market.
noun the total number of people who
Abbr GRP
have seen an advertisement, multiplied gross reach /"rs rit/ noun the
by the number of times it has been run total number of opportunities for people
to see a companys advertisements in a
gross circulation /"rs s&kj- campaign, i.e. the total number of publi-
le()n/ noun the total sales of a cations sold multiplied by the number of
publication before adjusting for error or advertisements appearing in each one
discounting unsold copies
gross receipts /"rs rsits/ plural
gross cover /"rs k v/ noun the noun the total amount of money re-
number of times a television or radio ceived before expenses are deducted
spot has been seen based on television
ratings gross sales /"rs selz/ plural
noun money received from sales before
gross domestic product /"rs deductions for goods returned, special
dmestk prd kt/ noun the annual discounts, etc. Gross sales are im-
value of goods sold and services paid pressive since many buyers seem to be
for inside a country. Abbr GDP ordering more than they will eventually
gross earnings /"rs &nz/ need.
plural noun total earnings before tax and gross weight /"rs wet/ noun the
other deductions weight of both the container and its
gross impressions /"rs m- contents
pre()nz/ plural noun the total ground transportation /"rand
number of people who have seen an trnspte()n/ noun the means of
advertisement, multiplied by the number transport available to take passengers
of times it has been run. guaranteed from an airport to the town, e.g. buses,
homes impressions taxis, or trains
gross margin /"rs mdn/ group /"rup/ noun 1. several things
noun the percentage difference between or people together A group of manag-
the received price and the unit manufac- ers has sent a memo to the chairman
turing cost or purchase price of goods complaining about noise in the office.
for resale The respondents were interviewed in
gross national product /"rs groups of three or four, and then singly.
n()n()l prd kt/ noun the annual 2. several companies linked together in
value of goods and services in a country the same organisation the group
including income from other countries. chairman or the chairman of the group
Abbr GNP group turnover or turnover for the
news that gross national product increased group the Granada Group verb
only 1.3% in the first quarter of the year sent the to group together to put several items
group discussion 125 guarantee

together Sales from six different agen- population growth in the south-west is again
cies are grouped together under the reflected by the level of rental values
[Lloyds List]
heading European sales.
growth area /"r eri/ noun an
group discussion /"rup d- area where sales are increasing rapidly
sk ()n/ noun a survey method in
which a focus group is brought together growth index /"r ndeks/ noun
to discuss informally a market-research an index showing how something has
question The group discussion was grown
taken over by one or two strong person- growth industry /"r ndstri/
alities. A sample of young people took noun an industry that is expanding or
part in a group discussion on the new has the potential to expand faster than
shampoo. other industries
group interview /"rup ntvju/ growth market /"r mkt/
noun an interview with a group of re- noun a market where sales are increas-
spondents such as a family in order to ing rapidly We plan to build a factory
discover the views of the group as a in the Far East, which is a growth mar-
whole There were group interviews ket for our products.
with all the classes in the school in or- growth rate /"r ret/ noun the
der to gauge reactions to the new edu- speed at which something grows
cational programme.
growth share matrix /"r e
group results /"rup rz lts/ plural metrks/ noun a model for a market-
noun the results of a group of compa-
ing strategy with various categories of
nies taken together
product based on present performance
group system /"rup sstm/ noun and growth rate The growth share ma-
a system of organising an advertising trix helped to decide what products
agency in groups, each group having needed extra marketing efforts.
specialists in creative, media, marketing
services, and other areas, and each
growth vector matrix /"r
vekt metrks/ noun a model for a
group dealing with particular accounts
marketing strategy with various choices
groupware /"rupwe/ noun soft- and combinations of strategy based on
ware that enables a group of people who product and market development
are based in different locations to work
together and share information (NOTE: GRP abbr gross rating point
Groupware usually provides commu- guarantee /"rnti/ noun 1. a le-
nal diaries, address books, work plan- gal document in which the producer
ners, bulletin boards and newsletters agrees to compensate the buyer if the
in electronic format on a closed net- product is faulty or becomes faulty be-
work.) fore a specific date after purchase a
grow /"r/ verb to cause something certificate of guarantee or a guarantee
such as a business to develop or expand certificate The guarantee lasts for two
the thrift had grown from $4.7 million in
years. It is sold with a twelve-month
assets to $1.5 billion [Barrons] guarantee. the car is still under
guarantee the car is still covered by the
growth /"r/ noun 1. an increase in makers guarantee 2. a promise that
size 2. the second stage in a product life someone will pay another persons
cycle, following the launch, when de- debts to go guarantee for someone to
mand for the product increases rapidly act as security for someones debts 3.
the company is aiming for growth the something given as a security to leave
company is aiming to expand rapidly share certificates as a guarantee verb
a general price freeze succeeded in slowing
the growth in consumer prices
1. to give a promise that something will
[Financial Times] happen to guarantee a debt to prom-
growth in demand is still coming from the ise that you will pay a debt made by
private rather than the public sector someone else to guarantee an associ-
[Lloyds List] ate company to promise that an associ-
guaranteed circulation 126 gutter

ate company will pay its debts to make up for market prices that fall be-
guarantee a bill of exchange to prom- low this level Guaranteed prices help
ise that the bill will be paid 2. the bring some security to a notoriously un-
product is guaranteed for twelve stable industry.
months the manufacturer says that the guaranteed wage /"rntid
product will work well for twelve wed/ noun a wage which a company
months, and will mend it free of charge promises will not fall below a specific
if it breaks down figure
guaranteed circulation guarantor /"rnt/ noun a person
/"rntid s&kjle()n/ noun the who promises to pay someones debts
audited circulation of a magazine which She stood guarantor for her brother.
is used as a basis for calculating adver-
tising rates guard book /"d bk/ noun a hard-
cover album which allows pages to be
guaranteed homes impressions inserted into it, e.g. for showing samples
/"rntid hmz mpre()nz/, or advertising material
guaranteed homes ratings
/"rntid hmz retz/ plural guerrilla marketing /"rl
noun an advertising package offered by mkt/ noun a form of unconven-
television companies which guarantees tional flexible marketing, adapted to the
the advertisers that their advertising will products or services sold, or to the type
reach a specified number of people, but of customer targeted
leaves it to the TV company to choose guesstimate /"estmt/ noun a
the number and timing of the spots. rough calculation (informal )

Abbr GHI, GHR gutter /" t/ noun the area where

guaranteed prices /"rntid the two pages meet in a book or
prasz/ plural noun minimum prices magazine. It can be left blank as a
guaranteed to an industry by the govern- centre margin, or can be printed across
ment, with the payment of a subsidy to to form a double-page spread.
habit 127 hard

habit /hbt/ noun the practice of do- conference table. to shake hands on
ing something regularly Most con- a deal to shake hands to show that a
sumers continue to buy the same brands deal has been agreed 2. in hand kept
from force of habit. in reserve we have 10,000 in hand
habit buying /hbt ba/ noun balance in hand or cash in hand cash
the practice of buying a particular prod- held to pay small debts and running
uct again and again out of habit, without costs work in hand work which is in
making any conscious decision to buy progress but not finished
haggle /h"()l/ verb to discuss handbill /hndbl/ noun a sheet of
prices and terms and try to reduce them printed paper handed out to members of
to haggle about or over the details of the public as an advertisement
a contract After two days haggling handbook /hndbk/ noun a book
the contract was signed. which gives instructions on how to use
half-price sale /hf pras sel/ something The handbook does not say
noun a sale of items at half the usual how you open the photocopier.
price handed-overs /hndd vz/
plural noun sales leads which have been
hallmark /hlmk/ noun a mark put
on gold or silver items to show that the passed on to the client to pursue
metal is of the correct quality verb to handle /hnd()l/ verb 1. to deal
put a hallmark on a piece of gold or sil- with something or to organise some-
ver a hallmarked spoon thing The accounts department han-
dles all the cash. We can handle
hallmark of excellence /hlmk orders for up to 15,000 units. They
v ekslns/ noun the reputation that a handle all our overseas orders. 2. to sell
brand name has for high quality or to trade in a type of product We do
hall test /hl test/ noun a mar- not handle foreign cars. They will not
ket-research test where respondents are handle goods produced by other firms.
asked to go into a public building or handling /hndl/ noun the process
central place to answer questions or to of receiving, storing and sending off
test new products The hall test was goods
conducted in the towns main school. shipping companies continue to bear the
halo effect /hel fekt/ noun a se- extra financial burden of cargo handling
ries of positive impressions of a product operations at the ports [Business Times
which consumers retain and which can
be revealed by a respondent when ques- handling charge /hndl td/
tioned in a survey noun money to be paid for packing, in-
voicing and dealing with goods which
hand /hnd/ noun 1. the part of the are being shipped
body at the end of each arm to shake
hands to hold someones hand when handout /hndat/ noun a free gift,
meeting to show you are pleased to meet especially of money The company ex-
them, or to show that an agreement has ists on handouts from the government.
been reached The two negotiating hard /hd/ adjective to drive a
teams shook hands and sat down at the hard bargain to be a difficult negotia-
hard cash 128 heavy half

tor to strike a hard bargain to agree idea for a plastic car body round all the
a deal where the terms are favourable to major car constructors.
you hawker /hk/ noun a person who
hard cash /hd k/ noun money sells goods from door to door or in the
in notes and coins, as opposed to street
cheques or credit cards head buyer /hed ba/ noun the
few of the paper millionaires sold out and most important buyer in a store She is
transformed themselves into hard cash
millionaires [Investors Chronicle] the shoe buyer for a London department
store. He is the paper buyer for a
hard currency /hd k rnsi/ noun large magazine chain.
the currency of a country which has a
strong economy, and which can be headhunt /hedh nt/ verb to look for
changed into other currencies easily managers and offer them jobs in other
to pay for imports in hard currency to companies she was headhunted she
sell raw materials to earn hard currency was approached by a headhunter and of-
fered a new job
hardening /hdn/ noun a hard-
ening of prices prices which are becom- headhunter /hedh nt/ noun a per-
ing settled at a higher level son or company whose job is to find
suitable top managers to fill jobs in
hardness /hdns/ noun hard- companies
ness of the market the state of the mar-
ket as being strong and not being likely headline /hedlan/ noun the heading
to fall of an article or advertisement, which is
set in much larger type than the rest
hard sell /hd sel/ noun to give a
product the hard sell to make great ef- head-on position /hed n p-
forts to persuade people to buy a prod- z()n/ noun a poster site directly fac-
uct he tried to give me the hard sell ing traffic Lets try to obtain a
he put a lot of effort into trying to make head-on position in the central part of
me buy town.
hard selling /hd sel/ noun the heads of agreement /hedz v
act of selling by using great efforts A "rimnt/ noun the most important
lot of hard selling went into that deal. parts of a commercial agreement
hardware /hdwe/ noun 1. ma- heat sealing /hit sil/ noun a
chines used in data processing, includ- method of closing plastic food
ing the computers and printers, but not containers
the programs 2. solid goods for use in COMMENT: Air is removed from a plastic
the house, e.g. frying pans or hammers bag with the food inside. The bag is then
a hardware shop pressed by a hot plate which melts the
plastic and seals the contents in the
harvesting /hvst/ noun the vacuum.
practice of cutting marketing investment
on a particular product prior to with- heavy /hev/ adjective large or in
drawing it from the market large quantities a programme of
heavy investment overseas He suf-
haulage /hld/ noun the cost of fered heavy losses on the Stock Ex-
transporting goods by road Haulage is change. The government imposed a
increasing by 5% per annum. heavy tax on luxury goods. heavy
haulage contractor /hld kn- costs or heavy expenditure spending
trkt/ noun a company which trans- large sums of money
ports goods by contract heavy selling sent many blue chips tumbling
in Tokyo yesterday [Financial Times]
hawk /hk/ verb to sell goods from
door to door or in the street to hawk heavy half /hevi hf/ noun a situa-
something round to take a product, an tion where a small number of customers
idea or a project to various companies to make up more than half of the total de-
see if one will accept it He hawked his mand for a product
heavy industry 129 high-involvement product

heavy industry /hevi ndstri/ 2. large, not low High overhead costs
noun an industry which deals in heavy increase the unit price. High prices
raw materials such as coal or makes put customers off. They are budgeting
large products such as ships or engines for a high level of expenditure. High
heavy user /hevi juz/ noun a interest rates are crippling small busi-
consumer who buys more of a product nesses. high sales a large amount of
than average Heavy users will be par- revenue produced by sales high taxa-
ticularly affected by the price rise. tion taxation which imposes large taxes
on incomes or profits highest tax
heavy viewer /hevi vju/ noun a
bracket the group which pays the most
person who watches a lot of television,
tax high volume (of sales) a large
and is part of the target audience for
number of items sold 3. the highest
commercials Heavy viewers gave us
bidder the person who offers the most
the most interesting comments on our
money at an auction The tender will
be awarded to the highest bidder. The
helicopter view /helkpt vju/ property was sold to the highest bidder.
noun a general or broad view of a prob- adverb prices are running high
lem as a whole, which does not go into prices are above their usual level
details (slang) noun a point where prices or sales are
helpline /helplan/ noun a telephone very large the highs and lows on the
number which links people to services Stock Exchange Prices have dropped
that can give them specialist advice, or a by 10% since the high of January 2nd.
similar service offered by shops to their Prices have dropped by 10% since the
customers January 2nd high. sales volume has
heterogeneous /hetrdinis/ reached an all-time high the sales vol-
adjective varied ume has reached the highest point it has
heterogeneous shopping goods ever been at
/hetrdinis p "dz/ plural American interest rates remain exceptionally
high in relation to likely inflation rates
noun goods which vary in quality and [Sunday Times]
style from brand to brand and which
faster economic growth would tend to push
consumers spend time in choosing. US interest rates, and therefore the dollar,
Compare homogeneous shopping higher [Australian Financial Review]
goods in a leveraged buyout the acquirer raises
heuristics /hjrstks/ noun simple money by selling high-yielding debentures to
decision rules used by ordinary custom- private investors [Fortune]
ers when choosing what to buy, e.g. high-end /ha end/ adjective more
buying whatever is cheapest expensive, more advanced or more pow-
hierarchy /harki/ noun a series erful than the other items in a range of
of items ranged in order of importance things, e.g., computers
hierarchy of needs the theory that high finance /ha fanns/ noun the
needs of individuals are arranged in an lending, investing and borrowing of
order based on their importance, such as very large sums of money organised by
safety, social needs, esteem, etc. financiers
hierarchy of effects /harki v high-grade /ha"red/ adjective of
fekts/ noun a model showing the very good quality high-grade petrol
stages in the effect of advertising on a high-grade trade delegation a delega-
consumer such as awareness, knowl- tion made up of very important people
edge, liking, preference, conviction and the accepted wisdom built upon for well over
purchase 100 years that government and high-grade
high /ha/ adjective 1. tall The corporate bonds were almost riskless
[Forbes Magazine]
shelves are 30 cm high. The door is
not high enough to let us get the ma- high-involvement product /ha
chines into the building. They are nvlvmnt prd kt/ noun a
planning a 30-storey-high office block. high-priced or high-tech product that is
high pressure 130 hoarding

carefully considered by a consumer be- historic /hstrk/, historical /h-

fore being bought strk()l/ adjective which goes back
high pressure /ha pre/ noun a over a period of time
the Federal Reserve Board has eased interest
strong insistence that somebody should rates in the past year, but they are still at
do something working under high historically high levels [Sunday Times]
pressure working with a manager tell- the historic p/e for the FTSE all-share index
ing you what to do and to do it quickly is 28.3 and the dividend yield is barely 2 per
or with customers asking for supplies cent. Both indicators suggest that the stock
urgently markets are very highly priced [Times]

high-pressure salesman /ha historical figures /hstrk()l

pre selzmn/, high-pressure f"z/ plural noun figures which were
saleswoman noun a salesman or sales- current in the past
woman who forces a customer to buy historical trend /hstrk()l
something he or she does not really trend/ noun a trend detected in the past
want on the basis of historical data Histori-
high-pressure sales technique cal trends may help us to predict how
/ha pre selz teknik/ noun the economy will develop in the future.
forcing a customer to buy something he It is difficult to detect any clear his-
or she does not really want torical trends in consumer reaction to
our past product launches.
high-quality /ha kwlt/ adjective
of very good quality high-quality historic(al) cost /hstrk()l
goods a high-quality product kst/ noun the actual cost of purchas-
ing something which was bought some
high season /ha siz()n/ noun the time ago
period when there are most travellers
and tourists hit /ht/ noun 1. a response to a request
sent from an Internet browser (NOTE:
high street /ha strit/ noun 1. the When a browser conducts a search,
main shopping street in a British town the number of hits it gets is the number
the high street shops a high street of websites, files or images it finds that
bookshop 2. a main street considered as fit the criteria set for the search.) 2. a
an important retail area successful match or search of a database
High Street banks /ha strit hit rate /ht ret/ noun the rate at
bks/ plural noun main British banks which a target is reached such as the
which accept deposits from individual number of mail shots needed before a
customers customer makes an order for a product
hire purchase /ha p&ts/ noun a advertised on them, or the number of
system of buying something by paying a customers who reply to a mail shot com-
sum regularly each month to buy a re- pared to the total number of customers
frigerator on hire purchase Abbr HP mailed
(NOTE: American English is install- hive off /hav f/ verb to split off
ment plan or installment sale) to part of a large company to form a
sign a hire-purchase agreement to smaller subsidiary The new managing
sign a contract to pay for something by director hived off the retail sections of
instalments the company.
hire-purchase company /ha hoard /hd/ verb 1. to buy and store
p&ts k mp()ni/ noun a company goods in case of need 2. to keep cash in-
which provides money for hire purchase stead of investing it
histogram /hst"rm/ noun a chart hoarder /hd/ noun a person who
or diagram with bars set on a base-line, buys and stores goods in case of need
the length of each bar expressing the hoarding /hd/ noun 1. hoard-
quantity of an item or unit ing of supplies the buying of large
quantities of money or goods to keep in
home audit 131 horse trading

case of need 2. a large wooden board for homewards /hmwdz/ adverb to-
posters wards the home country cargo
as a result of hoarding, rice has become homewards
scarce with prices shooting up
[Business Times (Lagos)] homogeneous /hmdinis/
adjective uniform or unvaried
home audit /hm dt/ noun a
survey method whereby a panel of homogeneous shopping goods
householders keeps records of purchases /hmdinis p "dz/ plural
so that these can be regularly checked noun goods which vary little in style
for quantity and brand The home audit and quality from brand to brand and
showed that although wholesalers were which consumers spend little time
buying the product in large quantities, choosing. Compare heterogeneous
consumers were not. The home audit shopping goods
suggested that there is little brand loy- horizontal /hrznt()l/ adjective
alty for this type of product. at the same level or with the same status
home country /hm k ntri/ noun Her new job is a horizontal move into
a country where a company is based a different branch of the business.
homegrown /hm"rn/ adjective horizontal communication
which has been developed in a local /hrznt()l kmjunke()n/
area or in a country where the company noun communication between employ-
is based a homegrown computer in- ees at the same level
dustry Indias homegrown car
horizontal cooperative advertis-
ing /hrznt()l kp()rtv
home industry /hm ndstri/ dvtaz/ noun cooperative adver-
noun productive work carried out by tising where the advertising is spon-
people at home In third world coun- sored by a group of retailers
tries there are still many home indus-
tries. Home industries are horizontal industrial market
disappearing as mass production takes /(noun), hrznt()l nd stril
over. mkt/ noun a market in which a
product is used by many industries
home market /hm mkt/ noun
the market in the country where the sell- horizontal integration /hr-
ing company is based Sales in the znt()l nt"re()n/ noun the pro-
home market rose by 22%. cess of joining similar companies or tak-
ing over a company in the same line of
homepage /hmped/ noun the business as yourself
first page that is displayed when you
visit a site on the Internet horizontal marketing system
home-produced product /hm /hrznt()l mkt sstm/
prdjust prd kts/ noun a product noun cooperation between or merger of
manufactured in the country where the two or more companies whose assets are
company is based complementary and who therefore all
gain from coming together
home shopping /hm p/
noun buying items direct from the cus- horizontal publication
tomers house, using a computer linked /hrznt()l p blke()n/ noun a
to the telephone which is linked to the publication which is aimed at people in
stores ordering department similar levels of occupation in different
home trade /hm tred/ noun trade
in the country where a company is based horizontal rotation /hrznt()l
homeward /hmwd/ adjective go- rte()n/ noun distributing broad-
ing towards the home country The cast spots on different days of the week
ship is carrying homeward freight. at the same time of day
The liner left Buenos Aires on her home- horse trading /hs tred/ noun
ward journey. hard bargaining which ends with some-
hostess party selling 132 human resources

one giving something in return for a household appliances

concession from the other side /hashld plansz/ plural noun
hostess party selling /hstes appliances which are used in carrying
pti sel/ noun a method of selling out day-to-day work in the house, e.g.
certain items such as household goods dishwashers and refrigerators
directly by the manufacturers agent at a household goods /hashld
party to which potential customers are "dz/ plural noun items which are used
invited in the home
host service /hst s&vs/, host- household name /hashld
ing service provider /hst nem/ noun a brand name which is re-
s&vs/ noun a company that provides cognised by a large number of
connections to the Internet and storage consumers
space on its computers, which can store households using television
the files for a users website /hashldz juz telv()n)/
hot button /ht b t()n/ noun the noun the percentage of homes watching
immediate interest a customer has in a television during a specific time period
product or service offered for sale and within a specific area. Abbr HUT
hotline /htlan/ noun a special tele- house journal /(noun), has
phone ordering service set up for a spe- d&n()l/, house magazine /has
cial period a Christmas hotline m"zin/ noun a magazine produced
hot money /ht m ni/ noun money for the employees or shareholders in a
which is moved from country to country company to give them news about the
to get the best returns company
house /has/ noun 1. the building in house property /has prpti/
which someone lives 2. a company noun private houses or flats, not shops,
the largest London finance house He offices or factories
works for a broking house or a publish- house style /has stal/ noun a
ing house. companys own design which is used in
house advertisment / has all its products, including packaging and
dv&tsmnt/, house ad /has d/ stationery
noun an advertisement in a publication house-to-house /has t has/
which is placed by the publication itself, adjective going from one house to
e.g. one offering a readers advice ser- the next, asking people to buy
vice or selling back numbers of the something or to vote for someone
publication house-to-house canvassing He
house agency /haz ednsi/ trained as a house-to-house salesman.
noun an advertising agency owned and House-to-house selling is banned in this
used by a large company, and which area.
other companies may also use housing market /haz mkt/,
house agent /haz ednt/ noun property market /prpti mkt/
an estate agent who deals in buying or noun the sale of houses
selling houses or flats HTML noun the standard computer
house brand /has brnd/ noun a code used to build and develop
brand owned by a retailer rather than by webpages
the producer human resources /hjumn r-
household /hashld/ noun a unit ssz/ plural noun the employees
formed of all the people living together which an organisation has available
in a single house or flat, whether it is a Our human resources must be looked
single person living alone, a married after and developed if we are to raise
couple or a large family productivity successfully.
the extent of single women households has effective use and management of human
implications for marketing resources hold the key to future business
[Precision Marketing] development and success [Management Today]
hunch marketing 133 hypothesis

hunch marketing /h nt hypermarket /hapmkt/ noun a

mkt/ noun the process of making very large supermarket, usually outside
marketing decisions following a hunch, a large town, with car-parking facilities
rather than relying on market research hypertext /haptekst/ noun a sys-
HUT abbr households using television tem of organising information in which
certain words in a document link to
hype /hap/ noun excessive claims other documents and display the text
made in advertising all the hype sur- when the word is selected
rounding the launch of the new soap
Many consumers were actually put off hypertext link /haptekst lk/
by all the media hype surrounding the noun same as hyperlink
launch of the new magazine. verb to hypertext markup language
make excessive claims in advertising /haptekst mk p l"wd/
noun full form of HTML
hyperlink /haplk/ noun 1. an im-
age or a piece of text that a user clicks hypoing /hap/ noun using spe-
on in order to move directly from one cial promotions to increase the audience
webpage to another (NOTE: Hyperlinks of a TV station during the sweep periods
can be added to webpages by using and so affect the ratings
simple HTML commands; they can hypothesis /hapss/ noun an
also be used in email messages, for assumption or theory which must be
example, to include the address of a tested to be confirmed or proved correct
companys website.) 2. a series of com- Let us assume, as a working hypothe-
mands attached to a button or word on sis, that we can win a 5% market share
one webpage that link it to another page, within two years of the launch. Sur-
so that if a user clicks on the button or veys proved that our original hypothesis
word, the hyperlink will move the user about likely consumer behaviour was by
to another position or display another and large correct. (NOTE: plural is
page hypotheses)
I-am-me 134 imperfect competition

iceberg principle /asb&" imitation /mte()n/ noun some-

prnsp()l/ noun the principle that thing which is a copy of an original
strong needs and desires lie deep in the beware of imitations be careful not to
human personality and that advertising buy low-quality goods which are made
must work at this level if it is to be to look like other more expensive items
effective immediate /midit/ adjective hap-
ident /adent/ noun a short TV image pening at once We wrote an immedi-
which identifies a channel ate letter of complaint. Your order
image /md/ noun the general idea will receive immediate attention.
that the public has of a product, brand or immediate environment /midit
company They are spending a lot of nvarnmnt/ noun elements or fac-
advertising money to improve the com- tors outside a business organisation
panys image. The company has which directly affect its work, such as
adopted a down-market image. to the supply of raw materials and demand
promote the corporate image to publi- for its products The unreliability of
cise a company so that its reputation is our suppliers is one of the worst fea-
improved tures of our immediate environment.
charities are also ready to buy air time to
promote their corporate image impact /mpkt/ noun a shock or
[Marketing Week] strong effect the impact of new tech-
image advertising /md nology on the cotton trade The new
dvtaz/ noun advertising with the design has made little impact on the
aim of making a brand or company buying public.
the strong dollars deflationary impact on
name easily remembered European economies as governments push up
image-maker /md mek/ noun interest rates to support their sinking currencies
someone who is employed to create a [Duns Business Month]
favourable public image for an organi- impactaplan /mpktpln/ noun
sation, product or public figure an extensive poster advertising
image manipulation /md campaign
mnpjle()n/ noun alteration of impact scheduling /mpkt
digital images using special computer edjul/ noun the practice of running
software advertisements for the same product
image setter /md set/ noun a close together so as to make a strong im-
typesetting device that can process a pression on the target audience Im-
PostScript page and produce a pact scheduling can achieve rapid
high-resolution output brand awareness.
image transfer /md trnsf&/ imperfect /mp&fkt/ adjective hav-
noun the technique of transferring im- ing defects They are holding a sale of
ages from one medium to another, e.g. imperfect items. Check the batch for
from a photograph to a computer disk imperfect products.
imitate /mtet/ verb to do what imperfect competition /mp&fkt
someone else does They imitate all kmpt()n/ noun the degree of
our sales gimmicks. competition in a market which is some-
imperfection 135 incentive

where between a monopoly at one ex- import licence /mpt las()ns/,

treme and perfect competition at the import permit /mpt p&mt/ noun
other official documents which allow goods
imperfection /mpfekn/ noun a to be exported or imported
defect in something to check a batch import quota /mpt kwt/
for imperfections noun a fixed quantity of a particular
type of goods which the government al-
implied close /mplad klz/ lows to be imported The government
noun an act of ending a sale by assum-
has imposed a quota on the importation
ing that the customer will make the
of cars. The quota on imported cars
has been lifted.
import /mpt/ verb to bring goods imports /mpts/ plural noun goods
from abroad into a country for sale brought into a country from abroad for
The company imports television sets sale Imports from Poland have risen
from Japan. This car was imported to $1m a year.
from France.
European manufacturers rely heavily on import surcharge /mpt
imported raw materials which are mostly priced s&td/ noun the extra duty charged
in dollars [Duns Business Month] on imported goods, to try to stop them
importation /mpte()n/ noun from being imported and to encourage
the act of importing The importation local manufacture
of arms is forbidden. The importation impression /mpre()n/ noun 1.
of livestock is subject to very strict one persons single exposure to an ad-
controls. vertisement One impression can be
import ban /mpt bn/ noun an enough to induce a consumer to buy.
order forbidding imports The govern- Too many impressions can put consum-
ment has imposed an import ban on ers off. 2. the number of times an ad
arms. banner is displayed
impression cover /mpre()n
import duty /mpt djuti/ noun a k v/ noun the amount of advertising
tax on goods imported into a country
necessary to ensure the required number
importer /mpt/ noun a person or of impressions
company that imports goods a cigar impulse /mp ls/ noun a sudden de-
importer The company is a big im- cision to do something on impulse to
porter of foreign cars. do something because you have just
import-export /mpt ekspt/ thought of it, not because it was planned
noun, adjective referring to a business impulse buyer /mp ls ba/ noun
which deals with both bringing foreign a person who buys something on im-
goods into a country and sending locally pulse, not because he or she intended to
made goods abroad Rotterdam is an buy it
important centre for the import-export
trade. He works in import-export. impulse buying /mp ls ba/
noun the practice of buying items which
importing /mpt/ adjective you have just seen, not because you had
which imports oil-importing countries planned to buy them
an importing company noun the act
of bringing foreign goods into a country impulse purchase /mp ls
for sale The importing of arms into p&ts/ noun something bought as
the country is illegal. The level of im- soon as it is seen
porting is bound to affect domestic incentive /nsentv/ noun something
industries. which encourages a customer to buy or
import levy /mpt levi/ noun a tax staff to work better
some further profit-taking was seen
on imports, especially in the EU a tax on yesterday as investors continued to lack fresh
imports of farm produce from outside incentives to renew buying activity
the EU [Financial Times]
incentive-based system 136 independent trader

a well-designed plan can help companies income statement /nk m

retain talented employees and offer enticing
performance incentives all at an affordable
stetmnt/ noun US a statement of
cost [Fortune] company expenditure and sales which
shows whether the company has made a
incentive-based system /n- profit or loss (NOTE: the British equiva-
sentv best sstm/ noun a payment lent is profit and loss account)
system by which an advertising
agencys commission depends on how incorrectly labelled parcel
well it performs /nkrektli leb()ld ps()l/ noun a
parcel with the wrong information on
incentive marketing /nsentv the label
mkt/ noun any additional incen-
tives to buy apart from advertising, e.g. indemnity /ndemnti/ noun a guar-
free gifts We will have to use incen- antee of payment after a loss She had
tive marketing to break down sales to pay an indemnity of 100.
resistance. indent noun /ndent/ 1. an order
incentive programme /nsentv placed by an importer for goods from
pr"rm/ noun a programme to en- overseas They put in an indent for a
courage something by offering new stock of soap. 2. a line of typing
incentives which starts several spaces from the
left-hand margin verb /ndent/ 1.
incentive scheme /nsentv skim/
to indent for something to put in an or-
noun a plan to encourage better work by
der for something The department has
paying higher commission or bonuses
indented for a new computer. 2. to start
Incentive schemes are boosting
a line of typing several spaces from the
left-hand margin Indent the first line
inch rate /n ret/ noun an advertis- three spaces.
ing rate for periodicals, calculated on a
normal column width, one inch in depth independent /ndpendnt/ adjec-
tive not under the control or authority of
inclusive charge /nklusv anyone else
td/ noun a charge which includes
all items independent company
/ndpendnt k mp()ni/ noun a
income /nk m/ noun money which company which is not controlled by an-
a person receives as salary or dividends other company
lower income bracket or upper in-
come bracket groups of people who independents /ndpendnts/ plu-
earn low or high salaries considered for ral noun shops or companies which are
tax purposes he comes into the owned by private individuals or families
higher income bracket he is in a group many independents took advantage of the
bank holiday period when the big multiples
of people earning high incomes and were closed [The Grocer]
therefore paying more tax
there is no risk-free way of taking regular independent television
income from your money much higher than the /ndpendnt telv()n/ noun Brit-
rate of inflation [Guardian] ish commercial television
income distribution /nk m Independent Television Com-
dstrbju()n/ noun the way in mission /ndpendnt telv()n
which the national income is distributed km()n/ the British statutory body
among the various classes and occupa- which operates transmitting stations and
tions in a country oversees commercial television and ra-
income effect /nk m fekt/ noun dio. Abbr ITC
the effect that a change in a persons in- independent trader /ndpendnt
come has on his or her spending tred/, independent shop
incomes policy /nk mz plsi/ /ndpendnt p/ noun a shop which
noun the governments ideas on how in- is owned by an individual proprietor,
comes should be controlled not by a chain
independent variable 137 individual

independent variable indicia /ndsi/ noun US a stamp

/ndpendnt verib()l/ noun a printed on an envelope to show that
factor whose value, when it changes, in- postage has been paid by the sender
fluences one or more other variables indifference curve /ndf()rns
called dependent variables In this k&v/ noun a line on a graph that joins
model personal income is the independ- various points, each point representing a
ent variable and expenditure the de- combination of two commodities, each
pendent variable. combination giving the customer equal
index /ndeks/ noun a regular statisti- satisfaction
cal report which shows rises and falls in
prices, values or levels indigenous /nddns/ adjective
the index of industrial production sank 0.2 belonging to a particular country or area
per cent for the latest month after rising 0.3 per Cocoa is not indigenous to the area,
cent in March [Financial Times] but has been grown there for some
an analysis of the consumer price index for years.
the first half of the year shows that the rate of
inflation went down by 12.9 per cent indirect /ndarekt/ adjective not
[Business Times (Lagos)] direct
indexation /ndekse()n/ noun indirect channel /ndarekt
the linking of something to an index tn()l/ noun a marketing channel
indexation of wage increases where intermediaries such as wholesal-
/ndekse()n v wed nkrisz/ ers and retailers are used to sell a prod-
noun the linking of wage increases to uct, as opposed to using a direct sales
the percentage rise in the cost of living force
indexing /ndeks/ noun a method indirect exporting /ndarekt
of showing changes in a value over time ekspt/ noun selling products to a
by starting with a simple base point such customer overseas through a middle-
as 100, which then serves as a reference man in your own country There is
point for future years Indexing is used no need for indirect exporting as we can
to show the rise in the cost of living over sell directly to the major department
a ten-year period. stores in Spain. Indirect exporting
index-linked /ndeks lkt/ adjec- saved the company from having to
tive which rises automatically by the worry about export documentation and
percentage increase in the cost of living transportation.
index-linked government bonds In- indirect headline /ndarekt
flation did not affect her as she has an hedlan/ noun a headline which does
index-linked pension. not directly try to sell a product or ser-
two-year index-linked savings certificates vice but rather tries to attract the cus-
now pay 3 per cent a year tax free, in addition to
index-linking [Financial Times] tomers attention or plays on his or her
indicate /ndket/ verb to show
The latest figures indicate a fall in the indirect labour costs /ndarekt
inflation rate. Our sales for last year leb ksts/ plural noun the cost of
indicate a move from the home market paying employees not directly involved
to exports. in making a product such as cleaners or
indicator /ndket/ noun some- canteen staff. Such costs cannot be allo-
thing which indicates cated to a cost centre.
it reduces this months growth in the key M3 individual /ndvdul/ noun one
indicator from about 19% to 12% single person a savings plan tailored
[Sunday Times]
to the requirements of the private indi-
we may expect the US leading economic vidual adjective single or belonging
indicators for April to show faster economic
growth [Australian Financial Review] to one person a pension plan designed
other indicators, such as high real interest to meet each persons individual re-
rates, suggest that monetary conditions are quirements We sell individual por-
extremely tight [Economist] tions of ice cream.
individual demand 138 industry

individual demand /ndvdul cessed or raw materials and goods such

dmnd/ noun demand from one sin- as machinery and equipment that are
gle consumer used to produce other goods
industrial /nd stril/ adjective re- industrial injury /nd stril
ferring to manufacturing work to take ndri/ noun an injury to an employee
industrial action to go on strike or that occurs in the workplace
go-slow industrialisation /nd strla-
ACAS has a legal obligation to try and solve ze()n/, industrialization noun the
industrial grievances before they reach
industrial tribunals [Personnel Today]
process of change by which an economy
becomes based on industrial production
Britains industrial relations climate is
changing [Personnel Today] rather than on agriculture
indications of renewed weakness in the US industrialise /nd strilaz/, in-
economy were contained in figures on industrial dustrialize verb to set up industries in a
production for April [Financial Times] country which had none before
industrial advertising /nd stril central bank and finance ministry officials of
the industrialized countries will continue work
dvtaz/ noun advertising to busi- on the report [Wall Street Journal]
nesses, not to private individuals
industrialised society /nd stri-
industrial capacity /nd stril k- lazd ssati/ noun a country which
psti/ noun the amount of work has many industries
which can be done in a factory or sev-
eral factories industrialist /nd strilst/ noun an
owner or director of a factory
industrial centre /nd stril
sent/ noun a large town with many
industrial market /nd stril
mkt/ noun customers who buy
goods to be used in production
industrial consumer /nd stril industrial marketing /nd stril
knsjum/ noun a business which mkt/ noun the marketing of
buys industrial goods industrial products After doing a
industrial design /nd stril d- course in industrial marketing, I got a
zan/ noun the design of products made job selling machinery to aircraft
by machines such as cars and manufacturers.
refrigerators industrial market research /n-
industrial development /n- d stril mkt rs&t/ noun market
d stril dvelpmnt/ noun the plan- research into selling to businesses as op-
ning and building of new industries in posed to private individuals
special areas industrial services marketing
industrial espionage /nd stril /nd stril s&vsz mkt/ noun
espin/ noun trying to find out the the marketing to business customers of
secrets of a competitors work or prod- such services as debt collection, office
ucts, usually by illegal means cleaning, etc.
industrial expansion /nd stril industrial user /nd stril juz/
kspnn/ noun the growth of indus- noun a customer who buys industrial
tries in a country or a region products to use in production
industrial goods /nd stril industry /ndstri/ noun 1. all facto-
"dz/, industrial products /n- ries, companies or processes involved in
d stril prd kts/ plural noun 1. the manufacturing of products All sec-
goods or products bought by producers tors of industry have shown rises in out-
to be used in production processes put. 2. a group of companies making the
Our industrial products are advertised same type of product or offering the
in the specialised press. He is an engi- same type of service the aircraft in-
neer by profession and sells industrial dustry the food-processing industry
goods to factories. 2. goods produced the petroleum industry the advertising
for use by industry, which include pro- industry
inelastic demand 139 information

with the present overcapacity in the airline inflationary trends in the economy the
industry, discounting of tickets is widespread
[Business Traveller]
economy is in an inflationary spiral
the economy is in a situation where
inelastic demand /nlstk d- price rises encourage higher wage de-
mnd/ noun demand which experi- mands which in turn make prices rise
ences a comparatively small percentage
inflationary expectations fell somewhat this
change in response to a percentage month, but remained a long way above the
change in price Where a product is a actual inflation rate, according to figures
household necessity, you almost always released yesterday. The annual rate of inflation
find an inelastic demand. measured by the consumer price index has been
below 2 per cent for over 18 months
inelastic supply /nlstk spla/ [Australian Financial Review]
noun supply which experiences a com-
paratively small percentage change in inflight advertising /nflat
response to a percentage change in price dvtaz/ noun advertising on TV
screens inside a plane
inertia selling /n& sel/ noun a
method of selling items by sending them inflight audience /nflat dins/
when they have not been ordered and noun travellers, especially business ex-
assuming that if the items are not re- ecutives, seen as a market for
turned, the person who has received advertisers
them is willing to buy them influencer /nfluns/ noun an ex-
inferior /nfri/ adjective not as pert in the decision-making unit who ad-
good as others products of inferior vises on technical aspects of the product
quality or service under consideration
inferior product /nfri infomercial /nfm&()l/ noun a
prd kt/ noun a product which con- TV commercial that is longer than the
sumers buy less of as their incomes rise normal 30 seconds, and contains infor-
Margarine was clearly an inferior mation about the product or service be-
product before it came to be considered ing sold
healthier than butter. As the recession
hit, sales of inferior products soared. inform /nfm/ verb to tell someone
officially I regret to inform you that
inflation /nfle()n/ noun a greater your tender was not acceptable. We
increase in the supply of money or
are pleased to inform you that you have
credit than in the production of goods
been selected for interview. We have
and services, resulting in higher prices
and a fall in the purchasing power of been informed by the Department that
money we have 3% inflation or in- new regulations are coming into force.
flation is running at 3% prices are 3% informant /nfmnt/ noun a per-
higher than at the same time last year son who answers questions in a survey
to take measures to reduce inflation So far only two informants have said
High interest rates tend to increase that they never buy the product.
inflation. information /nfme()n/ noun
the decision by the government to tighten
monetary policy will push the annual inflation
details which explain something to
rate above the years previous high disclose a piece of information to an-
[Financial Times] swer a request for information Please
when you invest to get a return, you want a send me information on or about holi-
real return above the inflation rate days in the USA. Have you any infor-
[Investors Chronicle]
mation on or about deposit accounts?
the retail prices index rose 0.4 per cent in the
month, taking the annual headline inflation rate
I enclose this leaflet for your informa-
to 1.7 per cent. The underlying inflation rate, tion. For further information, please
which excludes mortgage interest payments, write to Department 27. disclosure of
increased to an annual rate of 3.1 per cent confidential information the act of tell-
ing someone information which should
inflationary /nfle()n()ri/ adjec- be secret
tive which tends to increase inflation
informational appeal 140 ink-jet printing

informational appeal /nf- spnsd kp()rtv dvtaz/

me()n()l pil/ noun same as ra- noun advertising sponsored by the pro-
tional appeal ducers of raw materials which aims to
information and communica- encourage the production of products
tions technologies /nfme()n that use these raw materials
n kmjunke()nz teknldiz/ inherent drama /nhrnt
plural noun computer and telecommuni- drm/ noun advertising that empha-
cations technologies considered together sizes the benefits of purchasing a prod-
and as a whole (NOTE: It is the coming uct or service and the vital interest
together of information and communi- which the user has in the product such
cations technology that has possible as the speed of a car, the nutrition value
made such things as the Internet, of cereals, etc.
videoconferencing, groupware, inherent vice /nhrnt vas/
intranets, and third-generation mobile noun the tendency of some goods to
phones.) spoil during transportation Inherent
information management /nf- vice discouraged us from importing
me()n mndmnt/ noun the tropical fruit.
task of controlling information and the in-home selling /n hm sel/,
flow of information within an organisa- in-home retailing /n hm ritel/
tion, that involves acquiring, recording, noun selling to a customer in his or her
organising, storing, distributing, and re- home, either by direct contact or by tele-
trieving it (NOTE: Good information phone In-home selling is the national
management has been described as strategy for our products. In-home
getting the right information to the right selling is useful when housewives are
person in the right format at the right the target market.
time.) in-house /n has/ adverb, adjective
information officer /nfme()n done by somebody employed by a com-
fs/ noun 1. a person whose job pany on their premises, not by an out-
is to give information about a com- side contractor the in-house staff
pany, an organisation or a government We do all our data processing in-house.
department to the public 2. a person in-house agency /n has
whose job is to give information to other ednsi/ noun an advertising agency
departments in the same organisation which is owned and operated by an
information processing model company and is responsible for the com-
/nfme()n prses md()l/ panys advertising programme
noun a way of evaluating the effect of in-house newsletter /n has
advertising by seeing the receiver of the njuzlet/ noun same as newsletter
message as someone who processes in- initial /n()l/ adjective first or start-
formation and deals with problems ing The initial response to the TV ad-
information retrieval /nf- vertising has been very good.
me()n rtriv()l/ noun the finding the founding group has subscribed NKr
of stored data in a computer 14.5m of the initial NKr 30m share capital
[Financial Times]
infotainment /(noun), nf- career prospects are excellent for someone
tenmnt/ noun entertainment that is with potential, and initial salary is negotiable
informative, especially television around $45,000 per annum
programmes that deal with serious is- [Australian Financial Review]
sues or current affairs in an entertaining initial capital /n()l kpt()l/
way noun capital which is used to start a
ingredient /n"ridint/ noun mate- business
rial or a substance which goes to make initial sales /n()l selz/ plural
something noun the first sales of a new product
ingredient sponsored coopera- ink-jet printing /k det prnt/,
tive advertising /n"ridint ink-jet imaging /k det md/
inland port 141 installment plan

noun a printing process where text is re- azine when it is mailed verb /ns&t/
produced by projecting dots of electron- to put something in to insert a clause
ically charged ink onto the paper into a contract to insert a publicity
inland port /nlnd pt/ noun a piece into a magazine mailing
port on a river or canal insertion /ns&()n/ noun the act of
innovate /nvet/ verb to bring in putting an advertisement into a maga-
new ideas or new methods zine or newspaper
innovation /nve()n/ noun the insertion rate /ns&()n ret/
development of new products or new noun the rate charged for a single inser-
ways of selling tion of an advertisement
if innovation equates with daring, then who inset /nset/ noun same as insert
dares wins will be a marketing commandment inside back cover /nsad bk
[Marketing Workshop]
k v/ the page on the inside of the back
innovation-adoption model /n- cover used for advertising We have
ve()n dp()n md()l/ noun a advertised on the inside back cover of
model that shows the stages in the adop- every issue this year. The survey is
tion process for a new product by a con- trying to establish how much notice
sumer, which are: awareness, interest, readers take of the inside back cover.
evaluation, trial, and adoption
inside front cover /nsad fr nt
innovative /nvetv/ adjective re- k v/ noun the page on the inside of
ferring to a person or thing which is new the front cover of a magazine, used for
and makes changes advertisements
small innovative companies in IT have been
hampered for lack of funds [Sunday Times] instability /nstblt/ noun the
state of being unstable or moving up and
innovator /nvet/ noun 1. a down a period of instability in the
person or company that brings in new money markets a period when curren-
ideas and methods 2. a person who buys cies fluctuate rapidly
a new product first 3. in the VALS life-
style classification, a successful person, install /nstl/ verb 1. to put a ma-
often a leader in their profession, who chine into an office or into a factory
buys a lot of new and expensive We are planning to install the new ma-
products chinery over the weekend. They must
install a new data processing system be-
in-pack /n pk/ noun something cause the old one cannot cope with the
placed inside the packaging with the mass of work involved. 2. to set up a
product In-pack promotion may in- new computer system so that it fits the
clude information on other products in users requirements 3. to configure a
the same line. new computer program to the existing
input tax /npt tks/ noun VAT system requirements
which is paid by a company on goods or installation /nstle()n/ noun 1.
services bought machines, equipment and buildings
inquiry /kwar/ noun a request Harbour installations were picketed by
for information about a product striking dockers. The fire seriously
inquiry test /kwar test/ noun a damaged the oil installations. 2. putting
measuring of the effectiveness of adver- new machines into an office or a factory
tising based on responses following the to supervise the installation of new
advertisement such as requests for infor- equipment 3. setting up a new computer
mation, phone calls, or the number of system
coupons redeemed installment /nstlmnt/ noun US
insert noun /ns&t/ a form or leaflet spelling of instalment
which is put inside something, usually a installment plan /nstlmnt
magazine or newspaper an insert in a pln/, installment sales /n-
magazine mailing or a magazine in- stlmnt selz/, installment buying
sert an advertising sheet put into a mag- /nstlmnt ba/ noun US a sys-
instalment 142 integrated marketing

tem of buying something by paying a in-store media /n st midi/

sum regularly each month to buy a noun promotional material used inside a
car on the installment plan (NOTE: the store, e.g. POS material, display ban-
British equivalent is hire purchase) ners, and advertisements on trolleys
instalment /nstlmnt/ noun a in-store promotion /n st pr-
part of a payment which is paid regu- m()n/ noun a promotion of a prod-
larly until the total amount is paid The uct inside a shop, e.g. by demonstrations
first instalment is payable on signature or special gift counters
of the agreement. (NOTE: the American instrument /nstrmnt/ noun a
spelling is installment) the final in- legal document
stalment is now due the last of a series instrumental conditioning
of payments should be paid now to /nstrment()l knd()n/ noun
pay 25 down and monthly instal- same as operant conditioning
ments of 20 to pay a first payment of
25 and the rest in payments of 20 insurance rates /nrns rets/
each month to miss an instalment not plural noun the amount of premium
to pay an instalment at the right time which has to be paid per 1000 of
instalment credit /nstlmnt
kredt/ noun an arrangement by which intangible assets /ntndb()l
a purchaser pays for goods bought in in- sets/ plural noun assets which have a
stalments over a period of time value, but which cannot be seen, e.g.
goodwill, or a patent or a trademark
institution /nsttju()n/ noun an
organisation or society set up for a par- integrate /nt"ret/ verb to link
ticular purpose things together to form one whole group
integrated information re-
institutional /nsttju()n()l/
sponse model /nt"retd nf-
adjective referring to a financial
me()n rspns md()l/ noun a
institution model showing the response process to
during the 1970s commercial property was
regarded by big institutional investors as an an advertising message which suggests
alternative to equities [Investors Chronicle] that advertising leads to a low accep-
institutional advertising tance rate of information, but that after
/nsttju()n()l dvtaz/ noun
trials of the product the acceptance rate
advertising an organisation rather than a increases and this in turn leads to brand
product loyalty
integrated marketing /nt"retd
institutional investor mkt/ noun co-ordination of all of
/nsttju()n()l nvest/ noun a
a companys marketing activities in es-
financial institution which invests
tablishing marketing strategies such as
money in securities
packaging, media promotion, POS ma-
in-store /n st/ adjective inside a terial or after-sales service The sepa-
store ration of departments makes integrated
dissatisfied with traditional media marketing difficult to achieve.
advertising, manufacturers in the USA are
shifting their money into in-store promotion. integrated marketing communi-
The reason why marketers in the US put more cations concept /nt"retd
effort into in-store marketing is the greater kmjunke()nz knsept/ noun
penetration of EPOS [Marketing Week]
US the concept or principle that a com-
in-store bakery /n st bekri/ pany should link all its promotions, ei-
noun a bakery in a large supermarket, ther of its own image or of the products
where bread is baked fresh for the and services it sells, in a consistent way
customers on several different levels
in-store demonstration /n st integrated marketing communi-
demnstre()n/ noun a demonstra- cations objectives /nt"retd
tion of a product such as a piece of mkt kmjunke()nz b-
kitchen equipment inside a store dektvz/ plural noun listing the ob-
integrated processes 143 internal

jectives of an integrated marketing interactive voice response

communications programme such as /ntrktv vs rspns/ noun a
communication tasks, anticipated sales, telephone or Internet system which is
and increased market share activated by the voice of the caller and
responds to the callers queries. Abbr
integrated processes /nt"retd IVR
prsesz/ plural noun the processes
by which knowledge of products, and intercompany comparison
beliefs about their excellence combine /ntk mpni kmprs()n/,
to help the purchaser evaluate alterna- interfirm comparison /ntf&m
tive products kmprs()n/ noun a comparison of
different companies to see how much
integration /nt"re()n/ noun they spend on promotion, what their re-
bringing several businesses together un- turn on investment is, etc.
der a central control
interconnect /ntknekt/ noun
intellectual property /ntlektjl two or more cable systems joined to-
prpti/ noun ideas, designs and in- gether for advertising purposes so as to
ventions, including copyrights, patents give a wider geographical spread
and trademarks, that were created by
and legally belong to an individual or an interest /ntrst/ noun 1. special at-
organisation (NOTE: Intellectual prop- tention The buyers showed a lot of in-
erty is protected by law in most coun- terest in our new product range. 2.
tries, and the World Intellectual payment made by a borrower for the use
Property Organisation is responsible of money, calculated as a percentage of
for harmonising the law in different the capital borrowed verb to attract
countries and promoting the protection someones attention She tried to inter-
of intellectual property rights.) est several companies in her new inven-
tion. The company is trying to interest
intensive distribution /ntensv a wide range of customers in its
dstrbju()n/ noun the use by a products.
producer of as wide a network of dis-
since last summer American interest rates
tributors as possible to sell products have dropped by between three and four
Without intensive distribution we cannot percentage points [Sunday Times]
hope to achieve these ambitious sales a lot of money is said to be tied up in sterling
targets. Intensive distribution makes because of the interest-rate differential between
us rely on too many retailers and US and British rates [Australian Financial
wholesalers. Review]
intention to buy /nten()n t interest charges /ntrst
ba/ noun a statement by a respondent tdz/ plural noun money paid as
that he or she intends to buy a product or interest on a loan
service, which may or may not be true intermedia comparison
interactive /ntrktv/ adjective /ntmidi kmprs()n/ noun a
allowing the customer and seller to in- comparison of different media to decide
fluence the presentation of information how suitable they are for advertising
or the development of strategies We will carry out intermedia compari-
interactive marketing /ntrktv sons before deciding on our promo-
mkt/ noun marketing strategies tional strategy. Compare intramedia
which are developed as a result of deci- comparison
sions taken by both salespeople and intermediate goods /ntmidit
customers "dz/ plural noun goods bought for use
interactive media /ntrktv in the production of other goods
midi/ plural noun media that allow internal /nt&n()l/ adjective 1. in-
the customer to interact with the source side a company we decided to make
of the message, receiving information an internal appointment we decided to
and replying to questions, etc. appoint an existing member of staff to
internal analysis 144 Internet

the post, and not bring someone in from internal trade /nt&n()l tred/
outside the company 2. inside a country noun trade between various parts of a
country (NOTE: the opposite is external
internal analysis /nt&n()l trade)
nlss/ noun detailed examination
and reports on the product or service of- international /ntn()nl/ ad-
fered and the company itself jective working between countries
internal communication /n- international marketing
t&n()l kmjunke()n/ noun /ntn()nl mkt/ noun the
communication between employees or marketing of a companys products
departments of the same organisation abroad Our international marketing
(NOTE: Internal communication can so far consists of exporting to three
take various forms such as team brief- countries. The next stage in the com-
ings, interviewing, employee or works panys international marketing was the
councils, meetings, memos, an setting up of factories overseas.
intranet, newsletters, suggestion international media
schemes, the grapevine, and reports.) /ntn()nl midi/ plural noun
internal desk research /nt&n()l advertising media that cover several
desk rs&t/ noun research based on countries and can be used to reach audi-
information in a companys own records ences in them
such as customer accounts and sales International Monetary Fund
reports /ntn()nl m nt()ri f nd/ a
internal flight /nt&n()l flat/ type of bank which is part of the United
noun a flight to a town inside the same Nations and helps member states in fi-
country nancial difficulties, gives financial ad-
vice to members and encourages world
internalisation /nt&nla- trade. Abbr IMF
ze()n/, internalization noun a pro-
international monetary system
cess by which individuals identify infor-
/ntn()nl m nt()ri sstm/
mation which is relevant to them
noun methods of controlling and ex-
personally and so acquire values and
changing currencies between countries
norms which allow them to make
decisions international postal reply cou-
pon /ntn()nl pst()l rpla
internally /nt&n()l/ adverb inside kupn/ noun a coupon which can be
a company The job was advertised used in another country to pay the post-
internally. age of replying to a letter Shee en-
internal marketing /nt&n()l closed an international reply coupon
mkt/ noun marketing conducted with her letter.
inside a large organisation, where inde- international trade /ntn()nl
pendent departments sell goods or ser- tred/ noun trade between different
vices to each other countries
Internal Revenue Service /n- Internet /ntnet/ noun the global,
t&n()l revnju s&vs/ noun US a public network of computers and tele-
government department which deals phone links that houses websites, allows
with tax. Abbr IRS email to be sent and is accessed with the
internal search /nt&n()l s&t/ aid of a modem (NOTE: The Internet
noun the process by which a consumer uses the Internet Protocol (IP) as a
acquires information from past experi- communication standard.)
ence or something he or she has they predict a tenfold increase in sales via
remembered internet or TV between 1999 and 2004
[Investors Chronicle]
internal telephone /nt&n()l in two significant decisions, the Securities
telfn/ noun a telephone which is and Exchange Board of India today allowed
linked to other telephones in an office trading of shares through the Internet and set a
Internet commerce 145 inventory

deadline for companies to conform to norms for intramedia comparison

good corporate governance [The Hindu]
/ntrmidi kmprs()n/ noun
Internet commerce /ntnet a comparison of different advertising
km&s/ noun the part of e-commerce options within the same medium After
that consists of commercial business extensive intramedia comparison we
transactions conducted over the Internet now know all the possibilities of TV ad-
Internet marketing /ntnet vertising. Compare intermedia
mkt/ noun the marketing of prod- comparison
ucts or services over the Internet intranet /ntrnet/ noun a network of
Internet merchant /ntnet computers and telephone links that uses
m&tnt/ noun a businessman or busi- Internet technology but is accessible
nesswoman who sells a product or ser- only to the employees of a particular or-
vice over the Internet ganisation (NOTE: An intranet that is ex-
Internet payment system tended beyond the employees of an
/ntnet pemnt sstm/ noun any organisation to include, for example,
mechanism that enables funds to be suppliers, customers or distributors, it
transferred from a customer to seller or is called an extranet.)
from one business to another via the intransient /ntrnzint/ adjective
Internet referring to an advertisement which the
Internet security /ntnet s- target audience can keep and look at
kjrti/ noun the means used to pro- again, e.g. in a newspaper or magazine,
tect websites and other electronic files as opposed to a transient advertisement
against attacks by hackers and viruses on TV or radio
interpolation /nt&ple()n/ intrinsic value /ntrnsk vlju/
noun a method of estimating a value be- noun the material value of something
tween two established values These objects have sentimental value,
interstate commerce /ntstet but no intrinsic value at all. The in-
km&s/ noun US commerce between trinsic value of jewellery makes it a
different states which is therefore sub- good investment.
ject to federal government control introduce /ntrdjus/ verb to make
interstitial /ntst()l/ noun a someone get to know somebody or
page of advertising which is inserted something to introduce a client to
into a website bring in a new client and make them
interview /ntvju/ noun talking to known to someone to introduce a
a person who is applying for a job to new product on the market to produce
find out whether they are suitable for it a new product and launch it on the
We called six people for interview. market
During my appraisal interview my boss introductory offer /ntrd kt()ri
and I agreed some targets for the next f/ noun a special price offered on a
few months. I have an interview next new product to attract customers
week or I am going for an interview next
week. verb to talk to a person apply- inventory /nvnt()ri/ noun 1. (es-
ing for a job to see if they are suitable pecially US) all the stock or goods in a
We interviewed ten candidates, but warehouse or shop to carry a high in-
found no one suitable. ventory to aim to reduce inventory 2.
a list of the contents of a building such
interviewee /ntvjui/ noun the as a house for sale or an office for rent
person who is being interviewed The to draw up an inventory of fixtures and
interviewer did everything to put the in- fittings to agree the inventory to
terviewee at ease. The interviewees agree that the inventory is correct 3. ad-
were all nervous as they waited to be vertising time or space which is not used
called into the interview room. and is available verb to make a list of
interviewer /ntvju/ noun the stock or contents
person who is conducting an interview
inventory control 146 issue

a warehouse needs to tie up less capital in voice verb to send an invoice to

inventory and with its huge volume spreads out someone to invoice a customer we
costs over bigger sales [Duns Business Month]
invoiced you on November 10th we
inventory control /nvnt()ri sent you the invoice on November 10th
kntrl/ noun a system of checking
invoice clerk /nvs klk/ noun an
that there is not too much stock in a
office worker who deals with invoices
warehouse, but just enough to meet
requirements invoice price /nvs pras/ noun
the price as given on an invoice, includ-
investment /nvestmnt/ noun the ing any discount and VAT
placing of money so that it will produce
interest and increase in value They invoicing /nvs/ noun the send-
called for more government investment ing of invoices All our invoicing is
in new industries. She was advised to done by computer. invoicing in tripli-
make investments in oil companies. cate the preparation of three copies of
investment trusts, like unit trusts, consist of invoices
portfolios of shares and therefore provide a invoicing department /nvs
spread of investments [Investors Chronicle] dptmnt/ noun the department in a
investment companies took the view that company which deals with preparing
prices had reached rock bottom and could only
go up [Lloyds List]
and sending invoices
investment advertising /n-
inward /nwd/ adjective towards the
home country
vestmnt dvtaz/ noun large
expenditure on advertising to achieve inward bill /nwd bl/ noun a bill of
long-term objectives lading for goods arriving in a country
investment spending /n- inward mission /nwd m()n/
vestmnt spend/ noun spending noun a visit to your home country by a
more than normal on advertising with group of foreign businesspeople
the expectation of increased sales and IP address /a pi dres/ noun a
profits unique 32-bit number that defines the
investor relations research /n- precise location of a computer con-
vest rle()nz rs&t/ noun re- nected to a network or the Internet
search that allows a company to see how irrevocable /revkb()l/ adjective
financial institutions such as merchant which cannot be changed
banks view the company irrevocable acceptance /-
invisible assets /nvzb()l revkb()l kseptns/ noun accep-
sets/ plural noun assets which have a tance which cannot be withdrawn
value but which cannot be seen, e.g. island display /alnd dsple/
goodwill or patents noun same as island site
invisibles /nvzb()lz/ plural noun island position /alnd pz()n/
invisible imports and exports noun advertising space separated from
invitation to tender /nvte()n other advertising space in a newspaper
t tend/ noun a formal request, sent or magazine An island position is ex-
to a small number of suppliers, asking pensive but will attract great attention.
them to submit a detailed proposal for island site /alnd sat/, island dis-
completing a particular piece of work play /alnd dsple/ noun an exhibi-
invoice /nvs/ noun a note asking tion stand separated from others
for payment for goods or services sup- There are only two island sites at the ex-
plied your invoice dated November hibition and we have one of them. An
10th to make out an invoice for 250 island site means that visitors can ap-
to settle or to pay an invoice They proach the stand from several
sent in their invoice six weeks late. the directions.
total is payable within thirty days of issue /u/ noun the number of a
invoice the total sum has to be paid newspaper or magazine We have an
within thirty days of the date on the in- ad in the January issue of the magazine.
issue life 147 IVR

verb to put out or to give out to is- following items from your catalogue. 2.
sue a letter of credit to issue shares in a piece of information items on a bal-
a new company to issue a writ against ance sheet item of expenditure goods
someone The government issued a re- or services which have been paid for
port on Londons traffic. and appear in the accounts 3. a point on
issue life /u laf/ noun the time a list we will now take item four on
between one issue of a publication and the agenda we will now discuss the
another The reason the magazines fourth point on the agenda
advertising rates are so expensive is be- itemise /atmaz/, itemize verb to
cause it has an issue life of three make a detailed list of things Item-
months. izing the sales figures will take about
issuer /u/ noun a financial institu- two days.
tion that issues credit and debit cards itemised account /atmazd -
and maintains the systems for billing kant/ noun a detailed record of
and payment money paid or owed
ITC abbr Independent Television itemised invoice /atmazd
Commission nvs/ noun an invoice which lists
item /atm/ noun 1. something for each item separately
sale we are holding orders for itinerary /atnrri/ noun a list of
out-of-stock items we are holding or- places to be visited on one journey a
ders for goods which are not in stock salesreps itinerary
Please find enclosed an order for the IVR abbr interactive voice response
jargon 148 journey planning


jargon /d"n/ noun a special sort job specification /db spesf-

of language used by a trade or profes- ke()n/ noun a very detailed descrip-
sion or particular group of people tion of what is involved in a job
job /db/ noun 1. a piece of work 2. joined-up /dnd p/ adjective in-
an order being worked on We are volving two or more individuals or or-
working on six jobs at the moment. ganisations who share information and
The shipyard has a big job starting in co-ordinate their activities in order to
August. achieve their aims more effectively
jobber /db/ noun US a wholesaler joint account /dnt kant/ noun
warehouse clubs buy directly from a bank or building society account
manufacturers, eliminating jobbers and shared by two people Many married
wholesale middlemen [Duns Business Month] couples have joint accounts so that they
jobbing /db/ noun the practice of can pay for household expenses.
doing small pieces of work Joint Photographics Experts
jobbing printer /db prnt/ Group noun full form of JPEG
noun a person who does small printing journal /d&n()l/ noun 1. a book
jobs with the account of sales and purchases
jobbing production /db pr- made each day 2. a magazine
d kn/ noun the production of several journalist /d&n()lst/ noun a per-
different articles, each to individual son who writes for a newspaper
journey /d&ni/ noun a long trip, es-
job classification /db klsf- pecially a trip made by a salesperson
ke()n/ noun describing jobs listed in She planned her journey so that she
various groups could visit all her accounts in two days.
job description /db dskrpn/ journey mapping /d&ni mp/
noun a description of what a job con- noun a method of calculating how many
sists of and what skills are needed for it people pass a poster site Journey
The letter enclosed an application mapping allows us to pinpoint the ten
form and a job description. key sites we will be renting for the next
job lot /db lt/ noun a group of three months.
miscellaneous items sold together journey order /d&ni d/ noun
They sold the household furniture as a an order given by a shopkeeper to a
job lot. salesperson when they call
job opening /db p()n/ journey planning /d&ni pln/
noun jobs which are empty and need noun the act of planning what calls a
filling We have job openings for office salesperson will make and how they will
staff. be reached most efficiently, giving pri-
job satisfaction /db sts- ority to the more profitable accounts
fkn/ noun an employees feeling The sales manager will stress how good
that he or she is happy at work and journey planning will save precious
pleased with the work he or she does time. Inefficient journey planning
JPEG 149 keyed advertisement

means miles of unnecessary travelling We are facing some keen competition

for the sales force every day. from European manufacturers. keen
JPEG /de pe"/ noun a file format demand wide demand There is a keen
used to compress and store photo- demand for home computers. 2. keen
graphic images for transfer over the prices prices which are kept low so as to
Internet be competitive Our prices are the
keenest on the market.
judgement /d dmnt/, judgment
noun an assessment or evaluation of the kerbside conference /k&bsad
quality of someone or something knf()rns/ noun a discussion of sell-
ing techniques between a trainee sales-
judgement forecasting person and the person training them
/d dmnt fkst/ noun fore-
after making a sales call In the
casting based on judgement rather than
kerbside conference, the sales trainer
on any scientific techniques We need
described a number of different ap-
more precise information so that we can
proaches that might have been made to
extrapolate rather than use judgement
a particular customer.
forecasting. Market research depart-
ments find judgement forecasting too key /ki/ adjective important a key
subjective and unreliable. factor key industries key personnel
a key member of our management
judgement sampling /d dmnt
smpl/ noun the choosing of a sam- team She has a key post in the organi-
ple for a survey based on judgement of sation. We dont want to lose any key
what criteria would be especially signif- staff in the reorganisation.
he gave up the finance job in September to
icant rather than applying any scientific devote more time to his global responsibilities
techniques Judgement sampling can as chairman and to work more closely with key
produce an insufficiently representative clients [Times]
sample. key account /ki kant/ noun an
jumbo /d mb/ adjective very important account or client, e.g. of an
large jumbo-sized pack or jumbo pack advertising agency
junk mail /d k mel/ noun unso- key account management /ki
licited advertising material sent through kant mndmnt/ noun the man-
the post and usually thrown away imme- agement of the small number of key ac-
diately by the people who receive it counts which represent the bulk of a
jury of executive opinion /dri companys business. Abbr KAM
v "zekjtv pnjn/ noun a panel keyboard /kibrd/ noun the part of
of executives used to contribute to a computer or other device with keys
forecasting which are pressed to make letters or fig-
just-in-time /d stntam/ noun ures verb to press the keys on a key-
abbr JIT board to type something She is
just-in-time production /d st n keyboarding our address list.
tam prd kn/ noun making goods keyboarder /kibd/ noun a per-
to order just before they are needed, so son who types information into a
as to avoid having too many goods in computer
stock. Abbr JIT keyboarding /kibd/ noun the
just-in-time purchasing /d st n act of typing on a keyboard Key-
tam p&ts/ noun a purchasing boarding costs have risen sharply.
system where goods are purchased im- key code /ki kd/ noun a letter and
mediately before they are needed, so as number code printed on mailshots so
to avoid carrying high levels of stock. that the respondents can be identified
Abbr JIT
keyed advertisement /kid d-
KAM abbr key account management v&tsmnt/ noun an advertisement
keen /kin/ adjective 1. eager or active which asks people to write to a specially
keen competition strong competition coded address which will indicate where
key number 150 knowledge management

they saw it, thus helping the advertisers She had a newspaper kiosk near the sta-
to evaluate the effectiveness of advertis- tion for 20 years.
ing in that particular newspaper or KISS /ks/ noun the need to make sure
magazine your advertising is clear and concise so
key number /ki n mb/ noun the as to improve its chances of getting a re-
number used in a keyed advertisement sponse. Full form keep it simple,
keypad /kipd/ noun a set of keys
on a computer Kitemark /kat mk/ trademark GB
a mark on goods to show that they meet
key prospects /ki prspekts/ plu- official standards
ral noun potential customers In this
sales campaign we will be concentrat-
knock /nk/ verb to knock the com-
petition to hit competing firms hard by
ing on key prospects. This is bad jour-
vigorous selling
ney planning since it does not allow
sufficient time to visit all the key knock down /nk dan/ verb to
prospects. knock something down to a bidder to
sell something to somebody at an auc-
keyword /kiw&d/ noun a word used tion The furniture was knocked down
by a search engine to help it locate a to him for 100.
particular type of website (NOTE: Com-
panies need to think very carefully knockdown /nkdan/ noun
about the keywords they place in their knockdown (KD) goods goods sold in
webpages in order to attract relevant parts, which must be assembled by the
search-engine traffic.) buyer
knocking copy /nk kpi/ noun
keyword search /kiw&d s&t/ advertising material which criticises
noun a search for documents containing
competing products
one or more words that are specified by
a search-engine user knock off /nk f/ verb to reduce a
price by a particular amount She
kickback /kkbk/ noun an illegal knocked 10 off the price for cash.
commission paid to someone, especially
a government official, who helps in a know-how /n ha/ noun knowl-
business deal edge or skill in a particular field to ac-
quire computer know-how
Kimball tag /kmb()l t"/ noun a knowledge capital /nld
paper tag attached to an item for sale,
kpt()l/ noun knowledge, especially
which is removed when the item has
specialist knowledge, that a company
been sold and kept by the store so that it
and its employees possess and that can
can be used for stock control
be put to profitable use
king-size /k saz/ adjective 1. re- knowledge management /nld
ferring to an extra large container of a mndmnt/ noun 1. the task of
product, usually comparatively econom- co-ordinating the specialist knowledge
ical to buy 2. referring to a very large possessed by employees so that it can be
size of poster exploited to create benefits and compet-
kiosk /kisk/ noun a small wooden itive advantage for the organisation 2.
shelter, for selling goods out of doors same as information management
label 151 late

label /leb()l/ noun a piece of paper landed costs /lndd ksts/ plural
or card attached to something to show noun the costs of goods which have
its price or an address or instructions for been delivered to a port, unloaded and
use verb to attach a label to something passed through customs
labelling /leb()l/ noun the act of landing card /lnd kd/ noun a
putting a label on something (NOTE: la- card given to passengers who have
belling- labelled. The American spell- passed through customs and can land
ing is labeling- labeled.) from a ship or an aircraft
labelling department /leb()l landing charges /lnd
dptmnt/ noun a section of a fac- tdz/ plural noun payment for
tory where labels are attached to the putting goods on land and paying cus-
product toms duties
laboratory test /lbrt()ri test/ landing order /lnd d/ noun a
noun a test carried out under controlled permit which allows goods to be un-
conditions, e.g. of the reactions of con- loaded into a bonded warehouse without
sumers to advertising paying customs duty
labour-intensive industry /lebr landing page /lnd ped/ noun
ntensv ndstri/ noun an industry the page on a website where the user ar-
which needs large numbers of workers, rives, in particular the page you arrive
where labour costs are high in relation on when directed by a hyperlink
to turnover landscape /lndskep/ noun an il-
labour market /leb mkt/ noun lustration page or book whose width is
the number of wokers who are available greater than its height. Compare
for work 25,000 school-leavers have portrait
just come on to the labour market. laser printer /lez prnt/ noun
lading /led/ noun the putting of computer printer which uses a laser
goods on a ship source to print high-quality dot matrix
characters on paper
laggards /l"dz/ plural noun a cat- laser printing /lez prnt/ noun
egory of buyers of a product who are the
printing using a laser printer
last to buy it or use it
late /let/ adjective 1. after the time
laissez-faire economy /lese fer stated or agreed We apologise for the
knm/ noun an economy where the late arrival of the plane from Amster-
government does not interfere because it dam. there is a penalty for late deliv-
believes it is right to let the economy ery if delivery is later than the agreed
run itself date, the supplier has to pay a fine 2. at
land /lnd/ verb to put goods or pas- the end of a period of time latest date
sengers onto land after a voyage by sea for signature of the contract the last
or by air The ship landed some goods acceptable date for signing the contract
at Mombasa. The plane stopped for adverb after the time stated or agreed
thirty minutes at the local airport to The shipment was landed late. The
land passengers and mail. plane was two hours late.
late majority 152 layout

late majority /let mdrti/ noun put back three months. The manage-
a category of buyers of a product who ment has decided on a September
buy it later than the early majority but launch date. The company is geared
before the laggards up for the launch of its first
latent /let()nt/ adjective present but microcomputer.
not yet developed latent market a po- launching /lnt/ noun the act of
tential market which has not so far been putting a new product on the market
touched launching costs /lnt ksts/
latent demand /let()nt dmnd/ plural noun the costs of publicity for a
noun a situation where there is demand new product
for a product but potential customers are launching date /lnt det/
unable to pay for it We will have to noun the date when a new product is of-
wait for the economy to improve in ficially shown to the public for the first
countries where there is latent demand. time
Situation analysis has shown that launching party /lnt pti/
there is only latent demand. noun a party held to advertise the
lateral /lt()rl/ adjective at the launching of a new product
same level or with the same status law /l/ noun a general rule
Her transfer to Marketing was some-
thing of a lateral move. law of diminishing returns /lr
v dmn rt&nz/ noun a general
lateral diversification /lt()rl rule that as more factors of production
dav&sfke()n/ noun the act of such as land, labour and capital are
diversifying into quite a different type added to the existing factors, so the
of business amount they produce is proportionately
lateral integration /lt()rl nt- smaller
"re()n/ noun the act of joining simi- law of inertia of large numbers
lar companies or taking over a company /lr v n&r v ld n mbz/
in the same line of business as yourself noun a general rule that larger samples
Lateral integration will allow a pool- are more likely to be representative of
ing of resources. Lateral integration the population than small ones
in the form of a merger will improve the law of statistical regularity /lr
efficiency of both businesses involved. v sttstk()l re"jlrti/ noun a
lateral thinking /lt()rl k/ general rule that a group of people or
noun an imaginative approach to prob- objects taken from a larger group of
lem-solving which involves changing people or objects will tend to resemble
established patterns of thinking to help the larger group
make a breakthrough Lateral thinking law of supply and demand /lr
resulted in finding a completely new use v spla n dmnd/ noun a general
for an existing product. Brainstorm- rule that the amount of a product which
ing sessions encourage lateral thinking is available is related to the needs of po-
and originality. tential customers
latest /letst/ adjective most recent layout /leat/ noun 1. the arrange-
He always drives the latest model of car. ment of the inside space of a building or
Here are the latest sales figures. its contents They have altered the lay-
launch /lnt/ verb to put a new out of the offices. 2. the arrangement of
product on the market, usually spending words and pictures on a printed page, in
money on advertising it They an advertisement, on an email advertis-
launched their new car model at the mo- ing message, etc., including the head-
tor show. The company is spending line, illustrations, text, and trademarks
thousands of pounds on launching a I like the illustration and the copy but
new brand of soap. noun the act of not the layout. The layout needs to be
putting a new product on the market changed so that other features are
The launch of the new model has been highlighted.
lead 153 legalise

lead /lid/ verb to be the main person in something to mail leaflets advertising
a group She will lead the trade mis- a new hairdressing salon They are
sion to Nigeria. The tour of American handing out leaflets describing the fi-
factories will be led by the minister. nancial services they offer. We made
(NOTE: leading led) noun 1. infor- a leaflet mailing to 20,000 addresses.
mation which may lead to a sale It has
been difficult starting selling in this ter- leakage /likd/ noun an amount of
ritory with no leads to follow up. I goods lost in storage, e.g. by going bad
was given some useful leads by the sales or by being stolen or by leaking from
rep who used to cover this territory. 2. a the container
prospective purchaser who is the main learning curve /l&n k&v/ noun a
decision-maker when buying a product gradual process of learning, as shown on
or service an imaginary scale
leader /lid/ noun 1. a person who learning organisation /l&n
manages or directs others the leader "naze()n/ noun an organisation
of the construction workers union or whose employees are willing and eager
the construction workers leader She to share information with each other, to
is the leader of the trade mission to Ni- learn from each other, and to work as a
geria. The minister was the leader of team to achieve their goals
the party of industrialists on a tour of lease /lis/ noun a written contract for
American factories. The leader of the letting or renting a building, a piece of
trade delegation was invited to meet the land or a piece of equipment for a period
President. 2. a product which sells best against payment of a fee to rent office
market leaders may benefit from scale space on a twenty-year lease the lease
economies or other cost advantages; they may
enjoy a reputation for quality simply by being at expires next year or the lease runs out
the top, or they may actually produce a superior next year the lease comes to an end
product that gives them both a large market next year
share and high profits [Accountancy]
leave leaflet /liv liflt/ noun a
leader pricing /lid pras/ noun promotional leaflet left by a salesperson
the practice of cutting prices on some with a prospective customer
goods in the hope that they attract cus-
tomers to the shop where more profit- ledger /led/ noun a book in which
able sales can be made accounts are written
lead generation /lid den- legal /li"()l/ adjective 1. according
re()n/ noun the process of finding to the law or allowed by the law The
prospective purchasers companys action was completely legal.
2. referring to the law to take legal
leading question /lid action to sue someone or to take some-
kwetn/ noun a question in a ques- one to court to take legal advice to
tionnaire which, by its phrasing, sug- ask a lawyer to advise about a legal
gests a certain answer Interviewers problem
were trained to avoid bias and leading
questions. The leading question pres- legal adviser /li"()l dvaz/
surized the respondent into answering noun a person who advises clients about
untruthfully. the law
lead partner /lid ptn/ noun the legal currency /li"()l k rnsi/
organisation that takes the leading role noun money which is legally used in a
in an alliance country
lead sourcing /lid ss/ noun legalisation /li"laze()n/, le-
searching through online databases to galization noun the act of making
find the addresses of potential something legal the campaign for the
customers legalisation of cannabis
leaflet /liflt/ noun a sheet of paper legalise /li"laz/, legalize verb to
giving information, used to advertise make something legal
legality 154 level playing field

legality /l"lt/ noun the fact of be- people or organisations and acts as a
ing allowed by law There is doubt simple form of contract
about the legality of the companys ac- letter of complaint /letr v km-
tion in dismissing him. plent/ noun a letter in which someone
legally /li"li/ adverb according to complains
the law the contract is legally bind- letter of credit /letr v kredt/
ing according to the law, the contract noun a document issued by a bank on
has to be obeyed the directors are le- behalf of a customer authorising pay-
gally responsible the law says that the ment to a supplier when the conditions
directors are responsible specified in the document are met (this
legend /lednd/ noun a short note is a common method of guaranteeing
printed underneath an illustration to ex- payment by overseas customers). Abbr
plain it L/C
legislation /ledsle()n/ noun letter of indemnity /letr v n-
laws demnti/ noun a letter promising pay-
legs /le"z/ plural noun the ability of an ment as compensation for a loss
advertising campaign, a film, a book, or letter of inquiry /letr v n-
other usually short-lived product to in- kwari/ noun a letter from a prospec-
terest people for a much longer time tive buyer to a supplier inquiring about
than normal (informal )
. products and their prices The letter of
leisure market /le mkt/ noun inquiry requested us to send our cata-
people who have plenty of leisure time logues and price lists. We received a
and are willing to buy products or ser- letter of inquiry concerning possible
vices to occupy their time trade discounts.
lemon /lemn/ noun 1. a product, es- lettershop /letp/ noun a com-
pany that puts together the various ele-
pecially a car, that is defective in some
ments of a direct mailing shot, and sorts
way 2. an investment that is performing
the envelopes by addresses
letters of administration /letz
lending limit /lend lmt/ noun a v dmnstre()n/ plural noun a
restriction on the amount of money a letter given by a court to allow someone
bank can lend to deal with the estate of a person who
letter /let/ noun a piece of writing has died
sent from one person or company to an- letters patent /letz pet()nt/ plu-
other to ask for or to give information ral noun the official term for a patent
letterhead /lethed/ noun the name level /lev()l/ noun the position of
and address of a company printed at the something compared to others low
top of a piece of notepaper levels of productivity or low productivity
letter of acknowledgement /letr levels to raise the level of employee
v knldmnt/ noun a letter which benefits to lower the level of
says that something has been received borrowings
letter of advice /letr v dvas/ figures from the Fed on industrial production
for April show a decline to levels last seen in
noun a letter to a customer giving de- June 1984 [Sunday Times]
tails of goods ordered and shipped but
applications for mortgages are running at a
not yet delivered The letter of advice high level [Times]
stated that the goods would be at
employers having got their staff back up to a
Southampton on the morning of the 6th. reasonable level are waiting until the scope for
The letter of advice reminded the cus- overtime working is exhausted before hiring
tomer of the agreed payment terms. [Sydney Morning Herald]
letter of agreement /letr v - level playing field /lev()l ple
"rimnt/ noun a document that sets fild/ noun a situation in which the same
out what has been agreed between two rules apply for all competitors and none
levy 155 light industry

of them has any special advantage over licensing /las()ns/ adjective re-
the others ferring to licences a licensing agree-
levy /levi/ noun money which is de- ment licensing laws
manded and collected by the govern- licensing agreement /las()ns
ment levies on luxury items taxes on "rimnt/ noun an agreement
luxury items where a person or company is granted a
liabilities /labltiz/ plural noun licence to manufacture something or to
the debts of a business, including divi- use something, but not an outright sale
dends owed to shareholders The bal- licensing hours /las()ns az/
ance sheet shows the companys assets plural noun the hours of the day when
and liabilities. he was not able to alcohol can be sold
meet his liabilities he could not pay his licensing laws /las()ns lz/
debts to discharge your liabilities in plural noun the laws which control
full to pay everything which you owe when and where alcohol can be sold
liability /lablti/ noun a legal re- licensor /lasens/ noun a person
sponsibility for damage or loss, etc. who licenses someone
The brand name has become a liability
to the company. to accept liability for lien /lin/ noun the legal right to hold
something to agree that you are respon- someones goods and keep them until a
sible for something to refuse liability debt has been paid
for something to refuse to agree that life /laf/ noun the period of time for
you are responsible for something which something or someone exists
liable /lab()l/ adjective liable life cycle /laf sak()l/ noun a con-
for legally responsible for The cus- cept used for charting the different
tomer is liable for breakages. The stages in the life of people, animals or
chairman was personally liable for the products
companys debts. life expectancy /laf kspektnsi/
licence /las()ns/ noun 1. an official noun the number of years a person is
document which allows someone to do likely to live
something (NOTE: the American spell- lifestyle /laf stal/ noun a way of
ing is license) 2. goods manufac- living of a particular section of society
tured under licence goods made with These upmarket products appeal to
the permission of the owner of the copy- people with an extravagant lifestyle.
right or patent The magazine ran a series of articles on
licence agreement /las()ns - the lifestyles of some successful
"rimnt/ noun a legal document businessmen.
which comes with a software product lifestyle segmentation /laf stal
and defines how you can use the soft- se"mente()n/ noun the dividing of
ware and how many people are allowed a market into segments according to the
to use it way in which customers live. VALS
license /las()ns/ noun US spelling lifetime /laftam/ noun the time
of licence verb to give someone offi- when you are alive
cial permission to do something for a
fee, as when a company allows another lifetime customer value /laftam
company to manufacture its products k stm vlju/, lifetime value
abroad licensed to sell beers, wines /laftam vlju/ noun the value of a
and spirits to license a company to customer to a firm during the cus-
manufacture spare parts She is li- tomers lifetime, which can be charted
censed to run an employment agency. using technology and market research
licensee /las()nsi/ noun a person light /lat/ adjective not heavy
who has a licence, especially a licence light industry /lat ndstri/ noun
to sell alcohol or to manufacture an industry making small products such
something as clothes, books, or calculators
light pen 156 line management

light pen /lat pen/ noun a type of limited market /lmtd mkt/
electronic pen which directs a beam of noun a market which can take only a
light which, when passed over a bar specific quantity of goods
code, can read it and send information limiting /lmt/ adjective which
back to a computer limits a limiting clause in a contract
light viewer /lat vju/ noun a per- The short holiday season is a limiting
son who watches little television If factor on the hotel trade.
too many of the target audience are line /lan/ noun 1. a long mark printed
light viewers, the impact of the commer- or written on paper paper with thin
cials will be wasted. blue lines I prefer notepaper without
limit /lmt/ noun the point at which any lines. She drew a thick line before
something ends or the point where you the column of figures. 2. same as prod-
can go no further to set limits to im- uct line 3. a row of letters or figures on
ports or to impose import limits to al- a page to open a line of credit or a
low only a specific amount of imports credit line to make credit available to
verb to stop something from going be- someone
yond a specific point the banks have cash paid for overstocked lines, factory
limited their credit the banks have al- seconds, slow sellers, etc. [Australian
Financial Review]
lowed their customers only a specific
amount of credit each agent is lim- lineage /land/ noun a method of
ited to twenty-five units each agent is measuring a classified advertisement by
allowed only twenty-five units to sell counting the lines, used for charging
the biggest surprise of 1999 was the rebound purposes
in the price of oil. In the early months of the
year commentators were talking about a fall to
linear /lni/ adjective calculated by
$5 a barrel but for the first time in two decades, length
the oil exporting countries got their act together, linear measurement /lni
limited production and succeeded in pushing
prices up [Financial Times] memnt/, linear footage /lni
ftd/ noun a measurement of how
limitation /lmte()n/ noun the long something is such as the length of
act of allowing only a specific quantity shelving available for a display
of something The contract imposes
limitations on the number of cars which
line block /lan blk/ noun a printing
block for line drawings
can be imported. limitation of liabil-
ity the fact of making someone liable line chart /lan tt/ noun a chart or
for only a part of the damage or loss graph using lines to indicate values
limited /lmtd/ adjective restricted line divestment /lan da-
vestmnt/ noun the dropping or sell-
limited company /lmtd ing of an entire product line so as to
k mp()ni/, limited liability com- concentrate on other products
pany /lmtd lablti k mp()ni/
noun a company where each share- line drawing /lan dr/, line il-
holder is responsible for repaying the lustration /lan lstre()n/ noun a
companys debts only to the face value drawing or illustration consisting only
of the shares they own (NOTE: short- of lines and no tones. Shades are shown
ened to Ltd) by lines drawn close together.
limited function wholesaler line extension /lan kstenn/
/lmtd f kn hlsel/ noun a noun the adding of another product to a
distributor performing only some of the product line
functions of a wholesaler As a limited line filling /lan fl/ noun the fill-
function wholesaler the dealer did not ing of gaps in a product line
provide a delivery service to retailers. line management /lan
limited liability /lmtd lablti/ mndmnt/, line organization
noun a situation where someones lia- /lan "naze()n/ noun the or-
bility for debt is limited by law ganisation of a business where each
line rate 157 load

manager is responsible for doing what list host /lst hst/ noun a company
his superior tells him to do that provides connections to the Internet
line rate /lan ret/ noun the rate and storage space on its computers
charged for advertising space, based on which can store the files for a users
the line space used in a newspaper or website (NOTE: also called a host ser-
vice or hosting service provider)
list maintenance /lst
line simplification /lan smplf-
mentnns/ noun the process of
ke()n/ noun the removal of some
keeping a mailing list up to date
products from a product line to make the
whole line more easily manageable list manager /lst mnd/ noun
a person who promotes a mailing list to
link /lk/ noun graphics or an image potential users
which moves the user to another page or
online location when the user clicks on list price /lst pras/ noun the price
it. hyperlink for something as given in a catalogue
liquid assets /lkwd sets/ plural list rental /lst rent()l/ noun the ac-
noun cash, or investments which can be tion of renting a mailing list
quickly converted into cash list renting /lst rent/ noun an ar-
liquor licence /lk las()ns/ noun rangement in which a company that
a government document allowing some- owns a direct mail list lets another com-
one to sell alcohol pany use it for a fee
list /lst/ noun 1. several items written literature /lt()rt/ noun written
one after the other They have an at- information about something Please
tractive list of products or product list. send me literature about your new prod-
I cant find that item on our stock list. uct range.
Please add this item to the list. She lithography /l"rfi/ noun a print-
crossed the item off her list. 2. a cata- ing process by which a design is applied
logue verb to write a series of items to a smooth flat surface with greasy ink
one after the other to list products by or a crayon. The surface is wetted and
category to list representatives by ink will adhere to the greasy parts, but
area to list products in a catalogue not to the wet parts.
The catalogue lists ten models of fax livery /lvri/ noun a companys own
machine. special design and colours, used e.g. on
list broker /lst brk/ noun a per- uniforms, office decoration and vehicles
son who arranges to sell mailing lists to living /lv/ noun he does not earn
users, but who does not own the lists a living wage he does not earn enough
list building /lst bld/ noun find- to pay for essentials such as food, heat
ing names and addresses and entering and rent
them into a database for direct market- load /ld/ noun goods which are
ing purposes transported the load of a lorry/of a
list cleaning /lst klin/ noun container the goods carried by a lorry
checking the details of a mailing list to or in a container maximum load the
make sure they are correct largest weight of goods which a lorry or
listen /ls()n/ verb to pay attention to plane can carry verb 1. to load a
someone who is talking or to something lorry or a ship to put goods into a lorry
which you can hear or a ship for transporting to load
cargo onto a ship a truck loaded with
listening area /ls()n eri/ boxes a ship loaded with iron a
noun the area covered by a radio sta- fully loaded ship a ship which is full of
tions signal cargo 2. (of a ship) to take on cargo
listening share /ls()n e/ noun The ship is loading a cargo of wood. 3.
the share of the total audience enjoyed to put a program into a computer
by a radio station Load the word-processing program be-
load-carrying capacity 158 long-range

fore you start keyboarding. 4. to add ex- is sold only in a restricted area, and
tra charges to a price mainly carries news about that area
load-carrying capacity /ld local press /lk()l pres/ noun
kri kpsti/ noun the amount of newspapers which are sold in a small
goods which a lorry is capable of area of the country The product was
carrying only advertised in the local press as it
loaded price /ldd pras/ noun a was only being distributed in that area
price which includes an unusually large of the country.
extra payment for some service That local radio station /lk()l
company is notorious for loading its redi ste()n/ noun a radio station
prices. which broadcasts over a small area of
loading /ld/ noun assigning the country
work to workers or machines The pro- location /lke()n/ noun 1. a
duction manager has to ensure that place where something is 2. a place, es-
careful loading makes the best use of pecially a site where still photographs or
human resources. films are made We still have to decide
loading dock /ld dk/ noun the on locations for the advertisements.
part of a harbour where ships can load logical models /ldk()l
or unload md()lz/ plural noun models of buyer
load time /ld tam/ noun in com- decision-making which assume that pur-
puting, the time it takes for a page of chasing is the result of a set of rational
data to open completely in a window decisions made by the purchaser Log-
lobby /lbi/ noun a pressure group ical models do not allow for the unpre-
that tries to persuade a government or dictable side of buying behaviour.
law-makers to support a particular cause logistics /ldstks/ noun the task
or interest or science of managing the movement,
local /lk()l/ adjective located in or storage, and processing of materials and
providing a service for a restricted area information in a supply chain (NOTE: Lo-
each cheque can be made out for the local gistics includes the acquisition of raw
equivalent of 100 rounded up to a convenient materials and components, manufac-
figure [Sunday Times] turing or processing, and the distribu-
the business agent for Local 414 of the Store tion of finished products to the end
Union said his committee will recommend that user.)
the membership ratify the agreement
[Toronto Star] logistics management /l-
EC regulations insist that customers can buy dstks mndmnt/ noun the
cars anywhere in the EC at the local pre-tax management of the distribution of prod-
price [Financial Times] ucts to the market
local advertising /lk()l logo /l"/ noun a symbol, design
dvtaz/ noun advertising in the or group of letters used by a company as
area where a company is based a mark on its products and in advertising
localised /lklazd/, localized London gold fixing /l ndn
adjective which occurs in one area only "ld fks/ noun system where the
localised advertising strategy world price for gold is set each day in
/lklazd dvtaz strtdi/ London
noun planning an advertising cam- long lease /l lis/ noun a lease
paign for a particular country or area of which runs for fifty years or more to
a market rather than a global campaign take an office building on a long lease
local media /lk()l midi/ plural long-range /l rend/ adjective
noun newspapers and radio and TV sta- for a long period of time in the future
tions in a small area of the country long-range economic forecast a fore-
local newspaper /lk()l cast which covers a period of several
njuzpep/ noun a newspaper which years
long-standing 159 low-pressure

long-standing /l stnd/ ad- vice, high prices, etc. loss of an order
jective which has been arranged for a not getting an order which was expected
long time a long-standing agreement the company suffered a loss of mar-
long-standing customer or customer ket penetration the company found it
of long standing a person who has been had a smaller share of the market 2. the
a customer for many years state of having less money than before
long-term /l t&m/ adjective on or not making a profit the company
a long-term basis for a long period of suffered a loss the company did not
time long-term debts debts which make a profit to report a loss not to
will be repaid many years later show a profit in the accounts at the end
long-term forecast a forecast for a pe- of the year The company reported a
riod of over three years long-term loss of 1m on the first years trading.
loan a loan to be repaid many years later the car was written off as a dead
long-term objectives aims which will loss/a total loss the car was so badly
take years to achieve damaged that the insurers said it had no
land held under long-term leases is not
value at a loss making a loss, not
amortized [Hongkong Standard] making any profit The company is
the company began to experience a demand
trading at a loss. We sold the shop at
for longer-term mortgages when the flow of a loss. to cut your losses to stop do-
money used to finance these loans diminished ing something which is losing money 3.
[Globe and Mail (Toronto)] the state of being worth less or having a
look and feel /lk n fil/ noun the lower value Shares showed losses of
appeal of the design, layout and ease of up to 5% on the Stock Exchange. 4. the
use of a website to potential customers state of weighing less loss in weight
and the way the site fits the image the goods which weigh less than when they
company is trying to put across were packed loss in transport the
amount of weight which is lost while
loose /lus/ adjective not attached goods are being transported
loose insert /lus ns&t/ noun a against losses of FFr 7.7m two years ago, the
sheet of advertising material slipped company made a net profit of FFr 300,000 last
between the pages of a publication year [Financial Times]
lorry-load /lri ld/ noun the low-grade /l "red/ adjective 1.
amount of goods carried on a lorry or in not very important a low-grade offi-
a container They delivered six cial from the Ministry of Commerce 2.
lorry-loads of coal. not of very good quality The car runs
lose /luz/ verb not to have something best on low-grade petrol.
any more to lose an order not to get low-hanging fruit /l h
an order which you were hoping to get frut/ noun an easy short-term sales or
During the strike, the company lost market opportunity which provides a
six orders to American competitors. to quick profit without too much effort (in-
lose customers to have fewer customers formal )
Their service is so slow that they have
been losing customers. the company low-involvement hierarchy /l
is losing sales or is losing market nvlvmnt harki/ noun a hierar-
share the company has fewer sales or a chy of response to advertising where the
smaller share of the market than before customer is relatively indifferent to the
product or service and only responds to
lose out /luz at/ verb to suffer as a repeated marketing
result of something The company has
lost out in the rush to make cheap com- low-involvement product /l n-
puters. We lost out to a Japanese vlvmnt prd kt/ noun a
company who put in a lower tender for low-priced product for everyday use
the job. that is bought by consumers without
loss /ls/ noun 1. not having some- giving much thought to brands
thing any more loss of customers not low-pressure /l pre/ adjective
keeping customers because of bad ser- low-pressure sales sales where the
low-quality 160 luxury product

salesperson does not force someone to lull /l l/ noun a quiet period After
buy, but only encourages them to do so last weeks hectic trading this weeks
low-quality /l kwlti/ adjective lull was welcome.
not of good quality They tried to sell lump sum /l mp s m/ noun money
us some low-quality steel. paid in one single amount, not in several
low season /l siz()n/ noun a pe- small sums When he retired he was
riod when there are few travellers Air given a lump-sum bonus. She sold her
fares are cheaper in the low season. house and invested the money as a lump
loyal /ll/ adjective always buying sum.
the same brand or using the same shop luxury /l kri/ noun, adjective re-
The aim of the advertising is to keep ferring to an expensive thing which is
the customers loyal. (NOTE: you are not necessary but which is good to have
loyal to someone or something) Luxury items are taxed very heavily.
loyalty card /llti kd/ noun a luxury goods /l kri "dz/ plural
special plastic card which gives custom- noun expensive items which are not ba-
ers discounts over a period of time to sic necessities
encourage them to remain as customers luxury product /l kri prd kt/
loyalty scheme /llti skim/ noun noun a product which people buy more
a scheme to keep the business of exist- of as their incomes rise The company
ing customers, e.g. by special discounts has gone upmarket and is now selling
for loyalty card holders luxury products.
Ma and Pa shop 161 mail

Ma and Pa shop /m n p p/ special colour supplement published

noun a small family-run business with a newspaper magazine insert an
macro- /mkr/ prefix very large, advertising sheet put into a magazine
covering a wide area when it is mailed or sold to insert a
macroeconomics /mkrik- leaflet in a specialist magazine to put
nmks/ noun a study of the eco- an advertising leaflet into a magazine
nomics of a whole area, a whole in- before it is mailed or sold
dustry, a whole group of the magazine mailing /m"zin
population or a whole country, in order mel/ noun the sending of copies of a
to help in economic planning. Compare magazine by post to subscribers
microeconomics (NOTE: macroeco-
nomics takes a singular verb) mac- magazine network /m"zin
roeconomic conditions factors that netw&k/ noun a group of magazines
influence the state of the overall econ- owned by one publisher and offering ad-
omy, e.g. changes in gross national vertisers the possibility of buying space
product, interest rates, inflation, reces- in several publications as a packaged
sion, and employment levels deal
macroenvironment /mkr n- mail /mel/ noun 1. a system of send-
varnmnt/ noun 1. the general ing letters and parcels from one place to
environmental factors that affect an another The cheque was lost in the
organisation, such as legislation or mail. The invoice was put in the mail
the countrys economy We must yesterday. Mail to some of the islands
develop a flexible planning system to in the Pacific can take six weeks. by
allow for major changes in the mail using the postal services, not send-
macroenvironment. 2. factors outside
ing something by hand or by messenger
the area of marketing which cannot be
influenced by the marketing effort, in- to send a package by surface mail to
cluding demographics, the natural envi- send a package by land or sea, not by air
ronment, etc. by sea mail sent by post abroad, using
a ship by air mail sent by post abroad,
macromarketing /mkr
using a plane we sent the order by
mkt/ noun the study of trading ac-
tivity within a whole economic system first-class mail we sent the order by the
such as a country, with its political, eco- most expensive mail service, designed
nomic and social implications to be faster 2. letters sent or received
Has the mail arrived yet? The first
made-to-measure /med t me/
adjective made to fit the requirements of
thing I do is open the mail. The re-
the customer made-to-measure ceipt was in this mornings mail. 3.
kitchen cabinets a made-to-measure same as email verb 1. to send some-
suit thing by post to mail a letter We
mailed our order last Wednesday.
magazine /m"zin/ noun 1. a pa-
per, usually with pictures and printed on They mailed their catalogue to three
glossy paper, which comes out regu- thousand customers in Europe. 2. same
larly, every month or every week 2. a as email
mail drop 162 make-to-order

mail drop /mel drp/ noun the mail- mail out /mel at/ verb to send pro-
ing of promotional material to a large motional material by mail
number of addresses mailout /mel at/ noun a piece of
mailer /mel/ noun packaging made promotional material sent by direct
of folded cardboard, used to mail items mail, usually accompanied by a letter
which need protection a diskette which may be personalised
mailer mailsort /melst/ noun computer
mailing /mel/ noun the sending of software used by mailing companies to
something by post the mailing of pub- sort mailings before they are sent to the
licity material to buy a mailing list to post office, usually by using special la-
pay a society or other organisation bels with barcodes
money to buy the list of members so that Main Street /men strit/ noun US
you can use it to mail publicity material the most important street in a town,
mailing house /mel has/ noun where the shops and banks are
a company which specialises in carrying majority /mdrti/ noun more than
out mailings for other companies half of a group
mailing list /mel lst/ noun a list major selling idea /med sel
of names and addresses of people who adi/ adjective the central theme in an
might be interested in a product, list of advertising campaign
names and addresses of members of a
society to build up a mailing list make /mek/ noun a brand or type of
Your name is on our mailing list. product manufactured Japanese
makes of cars a standard make of
mailing tube /mel tjub/ noun a equipment What make is the new com-
stiff cardboard or plastic tube, used for puter system or Whats the make of the
mailing large pieces of paper such as new computer system? verb 1. to pro-
posters duce or to manufacture The workmen
mail interview /mel ntvju/, spent ten weeks making the table. The
mail survey /mel s&ve/ noun US factory makes three hundred cars a day.
the sending of a questionnaire to respon- 2. to make a profit to have more
dents by post for a survey Not enough money after a deal
consumers responded to the mail inter- makegood /mek"d/ noun an ad-
view. To encourage people to cooper- vertisement placed again in a magazine
ate in the mail survey well include a or newspaper free of charge, because a
free sample with the questionnaire. mistake was made in it when it was pre-
mail merge /mel m&d/ noun a viously published
word-processing program that allows a make out /mek at/ verb to write
standard form letter to be printed out to to make out an invoice The bill is
a series of different names and made out to Smith & Co. to make out
addresses a cheque to someone to write some-
mail order /mel d/ noun a sys- ones name on a cheque
tem of buying and selling from a cata- maker /mek/ noun in the VALS
logue, placing orders and sending goods lifestyle classification, a practical, inde-
by mail We bought our kitchen units pendent person who is interested in
by mail order. products that are good value but not
mail-order catalogue /mel d necessarily fashionable
kt()l"/ noun a catalogue from make-to-order /mek t d/
which a customer can order items to be noun the making of goods or compo-
sent by mail nents to fulfil an existing order (NOTE:
mail-order selling /mel d Make-to-order products are made to
sel/ noun selling by taking orders the customers specification, and are
and supplying a product by post often processed in small batches.)
manage 163 managerial

manage /mnd/ verb 1. to direct ployees, usually senior managers and di-
or to be in charge of to manage a de- rectors. Abbr MBO
partment to manage a branch office 2. management by exception
to manage property to look after /mndmnt ba ksepn/ noun a
rented property for the owner management system whereby deviations
the research director will manage and direct from plans are located and corrected
a team of graduate business analysts reporting
on consumer behaviour throughout the UK management by objectives
[Times] /mndmnt ba bdektvz/ noun
manageable /mndb()l/ adjec- a way of managing a business by plan-
tive which can be dealt with easily
ning work for the managers to do and
The problems which the company faces testing if it is completed correctly and
are too large to be manageable by one on time
person. management consultant
/mndmnt kns ltnt/ noun a
managed economy /mndd person who gives advice on how to
knmi/ noun an economy that is manage a business
controlled by a government
management course
management /mndmnt/ noun /mndmnt ks/ noun a training
1. directing or running a business She course for managers
studied management at university.
Good management or efficient manage- management development
ment is essential in a large organisa- /mndmnt dvelpmnt/ noun
tion. Bad management or inefficient the selection and training of potential
management can ruin a business. a managers
management graduate or a graduate in management team /mndmnt
management 2. a group of managers or tim/ noun a group of all the managers
directors The management has de- working in the same company
cided to give everyone a pay increase. management technique
the management says that the rate of /mndmnt tekniks/ noun a way
loss-making has come down and it expects of managing a business
further improvement in the next few years
[Financial Times] manager /mnd/ noun 1. the
head of a department in a company
management accountant Shes a department manager in an engi-
/mndmnt kantnt/ noun an neering company. Go and see the hu-
accountant who prepares financial infor- man resources manager if you have a
mation for managers so that they can problem. The production manager
take decisions has been with the company for only two
management accounting weeks. Our sales manager started as
/mndmnt kant/ noun the a rep in London. 2. the person in charge
preparation and use of financial infor- of a branch or shop Mr Smith is the
mation to support management manager of our local Lloyds Bank.
decisions The manager of our Lagos branch is in
management accounts London for a series of meetings.
the No. 1 managerial productivity problem in
/mndmnt kants/ plural noun America is managers who are out of touch with
financial information prepared for a their people and out of touch with their
manager so that decisions can be made, customers [Fortune]
including monthly or quarterly financial managerial /mndril/ adjec-
statements, often in great detail, with tive referring to managers All the
analysis of actual performance against managerial staff are sent for training
the budget every year. to be appointed to a
management buyout managerial position to be appointed a
/mndmnt baat/ noun the take- manager decisions taken at manage-
over of a company by a group of em- rial level decisions taken by managers
managership 164 margin

managership /mndp/ noun manufactured goods /mnju-

the job of being a manager After six fktd "dz/ plural noun items
years, she was offered the managership which are made by machine
of a branch in Scotland. manufacturer /mnjfktr/
managing director /mnd noun a person or company that produces
darekt/ noun the director who is in machine-made products a big Indian
charge of a whole company. Abbr MD cotton manufacturer Foreign manu-
facturers have set up factories here.
mandatory /mndt()ri/ adjective
required by law or stipulated in a manufacturers agent /mnj-
contract fktrz ednt/ noun a person
the wage talks are focusing on employment who sells on behalf of a manufacturer
issues such as sharing of work among and earns a commission
employees and extension of employment manufacturers brand /mnj-
beyond the mandatory retirement age of 60
years [Nikkei Weekly]
fktrz brnd/ noun a brand
which belongs to the manufacturer and
mandatory blurb /mndt()ri has the same name
bl&b/, mandatory copy manufacturers recommended
/mndt()ri kpi/ noun certain price /mnjfktrz
words which are required by law to be rekmendd pras/ noun a price at
included in an advertisement, e.g. a which the manufacturer suggests the
health warning on cigarette product should be sold on the retail mar-
advertisements ket, which is often reduced by the re-
manifest /mnfest/ noun a list of tailer All china 20% off the
goods in a shipment manufacturers recommended price
Abbr MRP
mannequin /mnkn/ noun a
model of a person, used to display manufacturing /mnjfktr/
clothes in a shop window or inside a noun the production of machine-made
store products for sale We must try to re-
duce the manufacturing overheads.
manpower /mnpa/ noun the Manufacturing processes are continu-
number of employees in an organisa- ally being updated.
tion, industry or country
manufacturing capacity /mnj-
manpower forecasting fktr kpsti/ noun the amount
/mnpa fkst/ noun calculat- of a product which a factory is capable
ing how many employees will be of making
needed in the future, and how many will manufacturing industries
actually be available /mnjfktr ndstriz/ plural
manpower planning /mnpa noun industries which take raw materi-
pln/ noun the process of planning als and make them into finished
to obtain the right number of employees products
in each job map /mp/ noun a chart which shows
manpower requirements a geographical area
/mnpa rkwamnts/, man- mapping /mp/ noun the drawing
power needs /mnpa nidz/ plural up of a map of an area
noun the number of employees needed margin /mdn/ noun 1. the differ-
manufacture /mnjfkt/ verb ence between the money received when
to make a product for sale, using ma- selling a product and the money paid for
chines manufactured goods The it we are cutting our margins very
company manufactures spare parts for fine we are reducing our margins to the
cars. noun the making of a product smallest possible in order to be competi-
for sale, using machines products of tive our margins have been
foreign manufacture products made in squeezed profits have been reduced be-
foreign countries cause our margins have to be smaller to
marginal 165 market

stay competitive 2. extra space or time marine insurance /mrin n-

allowed rns/ noun the insurance of ships
profit margins in the industries most exposed and their cargoes
to foreign competition machinery,
transportation equipment and electrical goods marine underwriter /mrin
are significantly worse than usual  ndrat/ noun a person or company
[Australian Financial Review] that insures ships and their cargoes
marginal /mdn()l/ adjective 1. maritime /(adjective), mrtam/
hardly worth the money paid 2. not very adjective referring to the sea
profitable a marginal return on in- maritime lawyer /mrtam lj/
vestment 3. hardly worth the money noun a lawyer who specialises in legal
paid matters concerning ships and cargoes
pensioner groups claim that pensioners have
the highest marginal rates of tax. Income earned maritime trade /mrtam tred/
by pensioners above $30 a week is taxed at 62.5 noun the transporting of commercial
per cent, more than the highest marginal rate goods by sea
[Australian Financial Review]
mark /mk/ noun 1. a sign put on an
marginal cost /mdn()l kst/ item to show something 2. money for-
noun the cost of making a single extra merly used in Germany The price was
unit above the number already planned twenty-five marks. The mark rose
marginal cost pricing against the dollar. (NOTE: usually writ-
/mdn()l kst pras/ noun a ten DM after a figure: 25DM. Also
pricing method that involves fixing a called Deutschmark, D-Mark) verb
price per unit that covers marginal costs to put a sign on something to mark a
and makes an acceptable contribution to product for export only an article
fixed costs marked at 1.50 She used a black pen
marginal land /mdn()l lnd/ to mark the price on the book.
noun land which is almost not worth mark down /mk dan/ verb to
farming make the price of something lower
marginal pricing /mdn()l mark-down /mkdan/ noun 1. a
pras/ noun the practice of basing the reduction of the price of something to
selling price of a product on its variable less than its usual price 2. the percent-
costs of production plus a margin, but age amount by which a price has been
excluding fixed costs lowered There has been a 30%
marginal productivity mark-down on all goods in the sale.
/mdn()l prd ktvti/ noun ex- marked price /mkt pras/ noun
tra productivity achieved by the use of the price which is marked on or attached
one more factor of production to an article for sale
marginal purchase /mdn()l market /mkt/ noun 1. a place, of-
p&ts/ noun something which a buyer ten in the open air where farm produce
feels is only just worth buying and household goods are sold The fish
marginal revenue /mdn()l market is held every Thursday. The
revenju/ noun the income from sell- open-air market is held in the central
ing a single extra unit above the number square. Here are this weeks market
already sold prices for sheep. 2. an area where a
marginal utility /mdn()l ju- product might be sold or the group of
tlti/ noun satisfaction gained from us- people who might buy a product 3. the
ing one more unit of a product possible sales of a specific product or
demand for a specific product The
margin of error /mdn v er/ market for home computers has fallen
noun the number of mistakes which can sharply. We have 20% of the British
be accepted in a document or in a car market. Theres no market for
calculation electric typewriters. 4. to pay black
marine /mrin/ adjective referring to market prices to pay high prices to get
the sea items which are not easily available
marketable 166 market forces

verb to sell a product This product is market-driven /mkt drv()n/

being marketed in all European adjective which is driven by market
countries. forces
market analysts described the falls in the market dues /mkt djuz/ plural
second half of last week as a technical
correction to a market which had been pushed noun the rent to be paid for a stall in a
by demand to over the 900 index level market
[Australian Financial Review]
market economist /mkt
marketable /mktb()l/ adjective knmst/ noun a person who
which can be sold easily specialises in the study of financial
market analysis /mkt structures and the return on investments
nlss/ noun the detailed examina- in the stock market
tion and report of a market market economy /mkt
market area /mkt eri/ noun a knmi/ noun an economy in which
geographical area which represents a there is a free market in goods and
particular market, e.g. a TV viewing services
area or a representatives territory marketeer /mkt/ noun same as
market build-up method /mkt marketer
bld p med/ noun a method of as- marketer /mkt/ noun a person or
sessing the sales potential of a product company that carries out marketing ac-
by adding up the number of potential tivities The company has been in
buyers in each market segment manufacturing for ten years, and is now
market challenger strategy becoming a marketer of its own prod-
/mkt tlnd strtdi/ noun ucts as well. Most direct marketers
a strategy adopted by a company which support the Post Office, which is almost
is challenging the market leaders the sole channel for their services.
through pricing, promotion or product marketface /mktfes/ noun the
design Its a new aggressive company point of contact between suppliers and
adopting a market challenger strategy. their customers
market coverage /mkt market-facing enterprise /mkt
k v()rd/ noun a market share or fes entpraz/ noun an organisa-
measurement of what proportion of the tion that is sensitive to the needs of its
sales of an article is accounted for by a markets and customers and arranges its
particular brand The marketing direc- activities with them in mind
tors brief was to increase market cov- market factor analysis /mkt
erage by at least ten per cent. fkt nlss/ noun a forecasting
market day /mkt de/ noun the method which concentrates on key mar-
day when a market is regularly held ket factors that are believed to affect
Tuesday is market day, so the streets are demand
closed to traffic. market follower strategy /mkt
market demand /mkt dmnd/ fl strtdi/ noun a strategy of a
noun the total demand for a product in company which does not directly chal-
the market Market demand for this lenge the market leaders, but attempts to
product is falling, as fashions have benefit from their innovations and gain
changed. a profitable corner of the market
market development /mkt d- Adopting a market follower strategy
velpmnt/ noun a strategy involving greatly reduces expenditure on research
the search for and exploitation of new and development.
markets for a product Market devel- market forces /mkt fsz/
opment for our tractors is part of the plural noun the influences on the sales
companys growth strategy. of a product which bring about a change
in prices
market forecast 167 marketing objectives

market forecast /mkt fkst/ marketing consultancy /mkt

noun a forecast of prices on the stock kns ltnsi/ noun a firm which gives
market specialist advice on marketing
market fragmentation /mkt marketing department /mkt
fr"mnte()n/ noun the splitting dptmnt/ noun the section of a
of a market into many small segments, company dealing with marketing and
which are more difficult to sell into sales
market gap /mkt "p/ noun an marketing director /mkt da-
opportunity to sell a product or service rekt/ noun a director who is responsi-
which is needed but which no one has ble for an organisations marketing
sold before. gap activities
market hall /mkt hl/ noun the
building in which a market is held
marketing information system
/mkt nfme()n sstm/
noun computer software which analyses
marketing /mkt/ noun the pro- marketing information and produces
cess of identifying needs and satisfying material on which marketers can make
these needs with suitable goods or ser- decisions
vices, through product design, distribu-
tion and promotion, either as a business marketing intelligence /mkt
or as a non-profit-making organisation nteldns/ noun information about a
reporting to the marketing director, the market that can help a marketing effort
successful applicant will be responsible for the marketing management
development of a training programme for the
new sales force [Times] /mkt mndmnt/ noun the or-
ganising of a companys marketing
marketing agreement /mkt
"rimnt/ noun a contract by which marketing manager /mkt
one company will market another com- mnd/ noun a person in charge of a
panys products marketing department The marketing
marketing audit /mkt dt/ manager has decided to start a new ad-
noun an examination of the effective- vertising campaign.
ness of a companys marketing plans marketing mix /mkt mks/
marketing board /mkt bd/ noun the combination of all the ele-
noun an organisation set up by the gov- ments that make up marketing such as
ernment or by a group of producers to price, distribution and advertising
help producers to market a certain type Personal selling is a vital part of the
of product companys marketing mix. Compare the
four Ps
marketing budget /mkt
b dt/ noun money set aside by an or- marketing model /mkt
ganisation for its marketing activities md()l/ noun an overview of the en-
marketing channels /mkt tire marketing process which can be
tn()lz/ plural noun the means of shown graphically, often using a com-
communicating a message involved in puter, and used to solve problems
the process of marketing marketing myopia /mkt ma-
marketing communications pi/ noun a problem which occurs
/mkt kmjunke()nz/ plural when a business is short-sighted and
noun all methods of communicating only views the world from its own per-
used in marketing, e.g. television, radio spective, and fails to see the point of
and sales literature view of the customer
marketing concept /mkt marketing objectives /mkt
knsept/ noun a business idea or phi- bdektvz/ plural noun aims set
losophy based on the importance of for an organisations marketing
profit, consumer satisfaction and the programme, including sales, market
welfare of the general public share, and profitability
marketing plan 168 market potential

marketing plan /mkt pln/ marketmaker /mktmek/ noun

noun a plan, usually annual, for a com- a person who buys or sells shares on the
panys marketing activities, specifying stock market and offers to do so in a cer-
expenditure and expected revenue and tain list of securities (a marketmaker op-
profits Has this years marketing plan erates a book, listing the securities he or
been drawn up yet? The marketing she is willing to buy or sell, and makes
plan is flexible enough to allow for an his or her money by charging a commis-
increase in advertising costs. sion on each transaction)
marketing planning /mkt market map /mkt mp/ noun a
pln/ noun making a plan for a com- graph showing the structure of a market
panys marketing activities, specifying in terms of the number and type of con-
expenditure and expected revenue and sumers and the activity of competitors
profits One look at the market map shows we
marketing policy /mkt are aiming at the wrong target market.
plsi/ noun the basic attitudes under- market niche /mkt ni/ noun a
lying a companys marketing activities particular segment or specialised area of
marketing research /mkt r- a market In producing this unusual
s&t/ noun all research carried out in product, the company has found itself a
the interests of successful marketing, in- market niche.
cluding market research, media research market opening /mkt
and product research p()n/ noun the possibility of
marketing services /mkt starting to do business in a new market
s&vsz/ plural noun marketing func- market opportunity /mkt p-
tions other than selling, e.g. market re- tjunti/ noun the possibility of going
search and advertising Our sales drive into a market for the first time
is supported by well-developed and ef- market penetration /mkt
fective marketing services. pentre()n/ noun the percentage of
marketing strategy /mkt a total market which the sales of a com-
strtdi/ noun a strategy or plan for pany cover
marketing activities What marketing market penetration pricing
strategy should be adopted to reach /mkt pentre()n pras/ noun
these long-term objectives? The mar- pricing a product low enough to achieve
keting strategy was one of expansion market penetration
through diversification and market
development. marketplace /mktples/ noun 1.
the open space in the middle of a town
market intelligence /mkt n- where a market is held You can park
teldns/ noun information about a in the marketplace when there is no
market that can help a marketing effort market. 2. the situation and environment
market leader /mkt lid/ noun in which goods are sold Our salespeo-
the company with the largest market ple find life difficult in the marketplace.
share We are the market leader in Whats the reaction to the new car in
home computers. the marketplace? Whats the market-
market leaders may benefit from scale place reaction to the new car?
economies or other cost advantages; they may most discounted fares are sold by bucket
enjoy a reputation for quality simply by being at shops but in todays competitive marketplace
the top, or they may actually produce a superior any agent can supply them [Business Traveller]
product that gives them both a large market
share and high profits [Accountancy] market position /mkt p-
market leader strategy /mkt z()n/ noun the place a company
lid strtdi/ noun a strategy of a holds in a market
company which is a market leader and market potential /mkt p-
wants to maintain a dominant market tenl/ noun the sales of a product that
share or to keep its reputation as an should be achieved with the right kind
innovator of marketing effort The product is
market power 169 mass

promising but has not yet achieved its full market is organised, including the con-
market potential. centration of suppliers or consumers, the
market power /mkt pa/ noun ease of entry or barriers to entry, and the
the power of a business within a market, competitiveness of players in the market
usually based on the firms market market survey /mkt s&ve/
position noun a survey or general report on mar-
market price /mkt pras/ noun ket conditions The market survey sug-
the price at which a product can be sold gests that there is no longer much
market profile /mkt prfal/ demand for this type of product.
noun the basic characteristics of a par- market targeting /mkt
ticular market t"t/ noun planning how to sell a
market rate /mkt ret/ noun the product or service into a particular
normal price in the market We pay the market
market rate for secretaries or We pay market test /mkt test/ noun an
secretaries the market rate examination to see if a sample of a prod-
after the prime rate cut yesterday, there was a uct will sell in a market
further fall in short-term market rates
[Financial Times] market trends /mkt trendz/
plural noun gradual changes taking
market research /mkt rs&t/
noun the process of examining the pos-
place in a market
sible sales of a product and the possible market value /mkt vlju/ noun
customers for it before it is put on the value of an asset, a share, a product or a
market company if sold today
market sector /mkt sekt/ noun mark up /mk  p/ verb to increase
a particular section of a market, espe- the price of something
cially an area into which a firm sells mark-up /mk p/ noun 1. an in-
market segment /mkt crease in price We put into effect a
se"mnt/ noun a group of consumers 10% mark-up of all prices in June.
in a market who are definable by their Since I was last in the store they have
particular needs put at least a 10% mark-up on the whole
market segmentation /mkt range of items. 2. the difference be-
se"mente()n/ noun the division of tween the cost of a product or service
the market or consumers into categories and its selling price (NOTE: Mark-up is
according to their buying habits Our often calculated as a percentage of the
strategy is based on satisfying the de- production and overhead costs, and
mands of many different types of buyer represents the profit made on the prod-
and therefore requires thorough market uct or service.) we work to a 3.5
segmentation. times mark-up or to a 350% mark-up
we take the unit cost and multiply by 3.5
market share /mkt e/ noun to give the selling price
the percentage of a total market which
the sales of a companys product cover mark-up percentage /mk p p-
We hope our new product range will sentd/ noun the mark-up expressed
increase our market share. as a percentage either of the cost price
market specialist /mkt or of the selling price Whats the
spelst/ noun a person who concen- mark-up percentage on these items?
trates on a few markets, and has an ex- marque /mk/ noun a famous brand
pertise in the media industry in these name for a car, e.g. Jaguar, MG, or
markets Ferrari
market stall /mkt stl/ noun a mart /mt/ noun a place where things
light wooden stand where a trader sells are sold
goods in a market mass /ms/ noun 1. a large group of
market structure /mkt people 2. a large number We have a
str kt/ noun the way in which a mass of letters or masses of letters to
mass customisation 170 maximisation

write. They received a mass of orders box and a set of links to important areas
or masses of orders after the TV of the website
matched sample /mtd
mass customisation /ms smpl/ noun the use of two samples
k stmaze()n/ noun a process that of people with the same characteristics
allows a standard, mass-produced item, to compare reactions to different prod-
e.g., a bicycle, to be altered to fit the ucts in tests
specific requirements of individual material /mtril/ noun a sub-
customers stance which can be used to make a fin-
mass market /ms mkt/ noun ished product materials control a
the whole market, consisting of a very system to check that a company has
large number of customers enough materials in stock to do its work
mass marketing /ms mkt/ materials handling the moving of
noun marketing which aims at reaching materials from one part of a factory to
large numbers of people another in an efficient way
in the good old days of mass marketing, the matrix /metrks/ noun an arrange-
things marketers did to attract new customers ment of data in horizontal and vertical
tended to be the same as the things they did to
keep existing customers competitive prices, columns (NOTE: plural is matrices)
high quality and good service matrix management /metrks
[Marketing Week]
mndmnt/ noun management that
mass media /ms midi/ noun the operates both through the hierarchical
means of communication by which chain of command within the organisa-
large numbers of people are reached, tion, and through relationships at the
e.g. radio, television or newspapers same level with other managers working
mass-produce /ms prdjus/ in other locations or on different prod-
verb to manufacture identical products ucts or projects
in large quantities to mass-produce mature /mt/ adjective mature
cars economy a fully developed economy
master /mst/ adjective main or verb to become due bills which ma-
original master budget a budget pre- ture in three weeks time bills which
pared by amalgamating budgets from will be due for payment in three weeks
various profit and cost centres such as mature market /mt mkt/
sales, production, marketing or adminis- noun a well-established market, with lit-
tration in order to provide a main budget tle potential for increased sales
for the whole company the master
copy of a file the main copy of a com- maturity /mtrti/ noun the third
puter file, kept for security purposes stage in a product life cycle when a
product is well established in the market
master franchise /mst though no longer enjoying increasing
frntaz/ noun a franchise given to a sales, after which sooner or later it will
single entrepreneur who then sells sub- start to decline
sidiary franchises to others
maximal awareness /mksml
Master of Business Administra- wens/ noun the point at which a
tion (MBA) noun full form of MBA consumer is convinced enough by a
master sample /mst smpl/ products advertising to buy the product
noun a collection of basic sampling The marketing director considered
units (such as parliamentary constituen- the advertisements message too weak
cies) compiled by research organisations to achieve maximal awareness.
to help a companys market research maximisation /mksma-
masthead /msthed/ noun the area ze()n/, maximization noun the pro-
at the top of a webpage, which usually cess of making something as large as
contains the logo of the organisation possible profit maximisation or
that owns the page, and often a search maximiatison of profit
maximise 171 media event

maximise /mksmaz/, maximize Such a level of investment is beyond the

verb to make as large as possible Our means of a small private company.
aim is to maximie sprofits. The coop- means test /minz test/ noun an in-
eration of the workforce will be needed quiry into how much money someone
if we are to maximise production. He earns to see if they are eligible for state
is paid on results, and so has to work benefits
flat out to maximise his earnings.
mechanical /mknk()l/ adjective
maximum /mksmm/ noun the worked by a machine a mechanical
largest possible number, price or quan- pump
tity It is the maximum the insurance mechanical data /mknk()l
company will pay. up to a maximum det/ noun information regarding the
of 10 no more than 10 to increase printing of newspapers or magazines,
exports to the maximum to increase e.g. format or column width
exports as much as possible adjective
largest possible 40% is the maximum media /midi/ noun the means of
income tax rate or the maximum rate of communicating a message about a prod-
tax. The maximum load for the truck uct or service to the public (NOTE: me-
is one ton. Maximum production lev- dia is followed by a singular or plural
els were reached last week. to in- verb)
both advertisers and agencies agree that the
crease production to the maximum media owners do their bit to keep advertisers
level to increase it as much as possible well informed [Marketing Workshop]
maximum price /mksmm media costs represent a major expense for
pras/ noun the highest legal price for a advertisers [Marketing]
product The government insists on media broker /midi brk/
such a low maximum price that well noun a business which offers organisa-
never break even. Demand for the tions a media-buying service and possi-
product is so low that no company is bly additional services such as media
charging the maximum price. planning
MBA /em bi e/ noun a degree media buyer /midi ba/ noun a
awarded to graduates who have com- person in an advertising agency who
pleted a further course in business stud- places advertisements in the media on
ies. Full form Master of Business behalf of clients
Administration media buying /midi ba/ noun
m-commerce /em km&s/ noun the placing of advertisements in the me-
marketing functions other than selling, dia on behalf of an organisation Effi-
e.g. market research and advertising cient media buying is impossible
without a good knowledge of compara-
mean /min/ adjective average The tive media costs.
mean annual increase in sales is 3.20%.
noun the average or number calcu-
media class /midi kls/ noun a
lated by adding several quantities to- basic type of medium, e.g. TV, radio or
gether and dividing by the number of the press
quantities added Unit sales are over media coverage /midi
the mean for the first quarter or above k v()rd/ noun reports about some-
the first-quarter mean. thing in the media We got good media
coverage for the launch of the new
means /minz/ noun a way of doing model.
something Air freight is the fastest
means of getting stock to South Amer- media data form /midi det
ica. Do we have any means of copying fm/ noun a document giving basic
all these documents quickly? Bank data or information about a publication
transfer is the easiest means of payment. such as circulation, readership and geo-
(NOTE: plural is same) plural noun graphical distribution
money or resources The company has media event /midi vent/ noun a
the means to launch the new product. happening which is staged by or organ-
media independent 172 merchandise

ised so as to attract the attention of the media selection /midi slekn/

mass media noun the process of choosing the right
type of media for a promotional cam-
media independent /midi nd- paign The agency will give us guid-
pendnt/, media shop /midi p/ ance on media selection.
noun a business which offers organisa-
tions a media-buying service, but with- media service /midi s&vs/
out the creative services usually offered noun an organisation which provides
by advertising agencies the full range of media functions to its
median /midin/ noun the middle
number in a list of numbers media shop /midi p/ noun same
as media independent
media objectives /midi b-
dektvz/ plural noun aims which an media strategy /midi strtdi/
advertiser has in advertising through the noun action plans for achieving media
media objectives
media option /midi pn/ noun media vehicle /midi vik()l/
a single unit of advertising space or time noun the specific programme or publi-
cation used to carry an advertising
media organizations /midi message
"naze()nz/ plural noun organi-
sations whose aim is to provide infor- medium /midim/ noun one particu-
mation or entertainment to their lar means of communicating informa-
subscribers, viewers, or readers while at tion to the public (NOTE: plural is
the same offering marketers a way of media)
reaching audiences with print and medium-term /midim t&m/ ad-
broadcast messages jective referring to a point between short
media owner /midi n/ noun a term and long term medium-term
person or company that owns a maga- forecast a forecast for two or three
zine or newspaper or radio or TV station years
media plan /midi pln/ noun a megastore /me"st/ noun a very
plan showing what type of media will be large store
used and how much advertising will be mercantile /m&kntal/ adjective
done and when commercial mercantile country a
media planner /midi pln/ country which earns income from trade
noun a person who deals with media mercantile law laws relating to
planning business
media planning /midi pln/ mercantile agent /m&kntal
noun a strategy concerned with what ednt/ noun a person who sells on
type of media should be used and how behalf of a business or another person
much advertising should be done and and earns a commission
when The marketing manager and mercantile marine /m&kntal
media buyer are having a media plan- mrin/ noun all the commercial ships
ning session. Proper media planning of a country
avoids overexpenditure on promotion. mercantile paper /m&kntal
media research /midi rs&t/ pep/ noun a negotiable document
noun the study or evaluation of a target used in commerce
audience in order to improve an organi- merchandise noun /m&tndaz/
sations promotional activities goods which are for sale or which have
media schedule /midi edul/ been sold The merchandise is shipped
noun all the details of advertising to be through two ports. verb to sell goods
used in a promotional campaign, e.g. the by a wide variety of means, such as dis-
timing and positioning of play, advertising or sending samples
advertisements to merchandise a product
merchandise 173 microenvironment

fill huge warehouses with large quantities merger /m&d/ noun the joining to-
but limited assortments of top-brand,
first-quality merchandise and sell the goods at
gether of two or more companies As a
rock-bottom prices [Duns Business Month] result of the merger, the company is now
the largest in the field.
merchandise2 /m&tndaz/,
merchandize verb to sell goods by a message /mesd/ noun 1. a piece of
wide variety of means, such as display, news which is sent to someone He
advertising or sending samples to says he never received the message.
merchandise a product Ill leave a message with her secretary.
2. an idea that is communicated by pro-
merchandising /m&tndaz/, motion The agency was given clear
merchandizing noun the process of or- instructions as to what message the ad-
ganising the display and promotion of vertisement should convey. Few peo-
goods in retail outlets the ple interviewed in the survey knew what
merchandising of a product the the advertisements message was sup-
merchandising department posed to be. The message on the
merchandiser /m&tndaz/ poster was conveyed in only three
noun a person or company that words.
organises the display and promotion of
message effect /mesd fekt/
noun the effect of an advertisements
merchant /m&tnt/ noun a busi- message on the target audience The
nessperson who buys and sells, espe- message effect was lost because so
cially one who buys imported goods in many people didnt understand the joke
bulk for retail sale a coal merchant used in the advertisement. After the
a wine merchant campaign well try to assess what the
merchantable /m&tntb()l/ ad- message effect has been.
jective of good enough quality for sale metamarketing /metmkt/
and use noun US marketing applied to all kinds
merchant account /m&tnt of organisations, such as hospitals,
kant/ noun an account opened by an churches and religions, as well as to
e-merchant at a financial institution to profit-making concerns
receive the proceeds of credit-card me-too product /mi tu prd kt/
transactions noun a product which is a very similar
merchant bank /m&tnt bk/ to an existing market leader
noun a bank which arranges loans to metro area /metr eri/ noun the
companies, deals in international fi- central part of a large city
nance, buys and sells shares, launches
new companies on the Stock Exchange, micro- /makr/ prefix very small
but does not provide normal banking microeconomics /makr ik-
services to the general public nmks/ noun the study of the eco-
merchanting /m&tnt/ noun the nomics of people or single companies.
action of buying and selling Compare macroeconomics micro-
merchantman /m&tntmn/ noun economic trends trends in a countrys
a commercial ship economy, e.g. consumer income and
patterns of spending, wages, savings, or
merchant marine /m&tnt m- debt
rin/ noun all the commercial ships of a
country microenvironment /makr n-
varnmnt/ noun the elements or fac-
merge /m&d/ verb to join together tors outside a business organisation
The two companies have merged. The which directly affect it, such as supply
firm merged with its main competitor. of raw materials, demand for its prod-
merge-purge /m&d p&d/ noun ucts and rival companies Unreliability
combining two mailing lists and check- of suppliers is one the greatest problems
ing to remove duplicate addresses in our microenvironment.
micromarketing 174 model

micromarketing /makr missionary salesperson

mkt/ prefix the study of the mar- /m()n()ri selzp&s()n/ noun a
keting strategy of an individual business salesperson who approaches a new mar-
middleman /md()lmn/ noun a ket with a product
businessperson who buys from the man- missionary selling /m()n()ri
ufacturer and sells to retailers or to the sel/ noun the act of approaching new
public We sell direct from the factory customers with a product We have
to the customer and cut out the middle- never sold there before, so be prepared
man. (NOTE: plural is middlemen) for missionary selling. Some sales
military hardware /mlt()ri reps are not aggressive enough for mis-
hdwe/ noun military equipment, sionary selling.
e.g. guns, rockets and tanks mission statement /m()n
milk /mlk/ verb to make as much stetmnt/ noun a short statement of
profit for as long as possible from a par- the reasons for the existence of an
ticular product or service We intend to organisation
milk the product hard for the next two mix /mks/ noun an arrangement of
years, before it becomes obsolete. different things together
mindset /mandset/ noun a way of mixed /mkst/ adjective made up of
thinking or general attitude to things different sorts or of different types of
mindshare /mande/ noun the things together
density of the interconnects found by a mixed economy /mkst knmi/
search engine, that is the number of noun a system which contains both na-
pages that have links to a website tionalised industries and private
minicontainer /mniknten/ enterprise
noun a small container mixed media /mkst midi/ plural
minimarket /mnimkt/ noun a noun various types of media used to-
very small self-service store gether in a promotional campaign
minimum frequency /mnmm mnemonic /nmnks/ noun a word,
frikwnsi/ noun the minimum num- sentence or little poem which helps you
ber of exposures for an advertisement to remember something
be effective mobile /mbal/ adjective which
mining concession /man kn- can move about
se()n/ noun the right to dig a mine on mock-up /mk p/ noun the model
a piece of land of a new product for testing or to show
miscellaneous /mslenis/ ad- to possible buyers The sales team
jective various, mixed, or not all of the were shown a mock-up of the new car.
same sort miscellaneous items on the mode /md/ noun a way of doing
agenda a box of miscellaneous pieces something mode of payment the way
of equipment Miscellaneous expendi- in which payment is made, e.g. cash or
ture is not itemized in the accounts. cheque
misrepresentation /msreprzen-
te()n/ noun the act of making a
model /md()l/ noun 1. a small copy
of something made to show what it will
wrong statement in order to persuade
look like when finished They showed
someone to enter into a contract such as
us a model of the new office building. 2.
one for buying a product or service
a style or type of product this is the
mission /m()n/ noun a group of latest model The model on display is
people going on a journey for a special last years. I drive a 2001 model
purpose Range Rover. 3. a person whose job is
missionary sales /m()n()ri to wear new clothes to show them to
selz/ plural noun a sales pitch where a possible buyers 4. description in the
salesperson emphasises support services form of mathematical data adjective
rather than taking orders which is a perfect example to be copied
modem 175 monies

a model agreement verb to wear money to have a wage or salary to

new clothes to show them to possible earn good money to have a large wage
buyers She has decided on a career in or salary to lose money to make a
modelling. (NOTE: modelling mod- loss, not to make a profit the com-
elled. The American spelling is model- pany has been losing money for
ing modeled) months the company has been working
modem /mdem/ noun the device at a loss for months to get your
which links a computer to a telephone money back to make enough profit to
line, allowing data to be sent from one cover your original investment to
computer to another make money to make a profit to put
money into the bank to deposit money
modification /mdfke()n/ into a bank account to put money
noun a change The board wanted to into a business to invest money in a
make or to carry out modifications to business She put all her redundancy
the plan. The new model has had sev- money into a shop. to put money
eral important modifications. The cli- down to pay cash, especially as a de-
ent pressed for modifications to the posit We put 25 down and paid the
contract. rest in instalments. money up front
modified rebuy /mdfad riba/ payment in advance They are asking
noun a buying decision where either the for 10,000 up front before they will
product or the supplier has changed consider the deal. He had to put
from the time of the previous purchase money up front before he could clinch
modify /mdfa/ verb to change or the deal.
to make something fit a different use money-back guarantee /m ni
The car will have to be modified to pass bk "rnti/, money-back offer
the government tests. The refrigerator /m ni bk f/ noun a guarantee
was considerably modified before it that money will be paid back to custom-
went into production. ers who are not satisfied with their
modular /mdjl/ adjective made purchases
of various sections money-making /m ni mek/ ad-
mom-and-pop operation /mm jective which makes money a
n pp pre()n/ noun US a small money-making plan
business owned and run by a couple money-off coupon /m ni f
monadic test /mndk test/ noun kupn/ noun a coupon in a newspaper
a product test involving only one or on a package which can be cut off
product and used to claim a discount on the next
monetary /m nt()ri/ adjective re-
ferring to money or currency money order /m ni d/ noun a
a draft report on changes in the international document which can be bought for
monetary system [Wall Street Journal] sending money through the post
monetary policy /m nt()ri money rates /m ni rets/ rates of
plsi/ noun the governments policy interest for borrowers or lenders
relating to finance, e.g. bank interest money-spinner /m ni spn/ noun
rates, taxes, government expenditure an item which sells very well or which
and borrowing is very profitable The home-delivery
the decision by the government to tighten
monetary policy will push the annual inflation
service has proved to be a real
rate above the years previous high money-spinner.
[Financial Times] money supply /m ni spla/ noun
monetary standard /m nt()ri the amount of money which exists in a
stndd/ noun the fixing of a fixed ex- country
change rate for a currency monies /m niz/ plural noun sums of
money /m ni/ noun coins and notes money monies owing to the company
used for buying and selling to earn to collect monies due
monopolisation 176 multi-dimensional scaling

monopolisation /mnpla- most favoured nation /mst

ze()n/, monopolization noun the fevd ne()n/ noun a country
process of making a monopoly which has the best trade terms
monopolise /mnplaz/, monop- motivate /mtvet/ verb to encour-
olize verb to create a monopoly or to age someone to do something, espe-
get control of all the supply of a product cially to work or to sell highly
monopolist /mnplst/ noun a motivated sales staff sales staff who
business which is the sole seller in a are very eager to sell
market creative people arent necessarily motivated
by money or titles, they may not want a larger
monopolistic competition office or more work, they dont often want more
/mnplstk kmpt()n/ noun a responsibility. They want to see their ideas
implemented [Nations Business]
situation where there are only a few pro-
ducers who therefore control the market motivation /mtve()n/ noun
between them With only three suppli- 1. an encouragement to staff 2. eager-
ers of cotton in the country it was a ness to work well or sell large quantities
clear case of monopolistic competition. of a product the sales staff lack moti-
monopoly /mnpli/ noun a situa- vation the sales staff are not eager
tion where one person or company is the enough to sell
only supplier of a particular product or motivation research /mt-
service to be in a monopoly situation ven rs&t/, motivational re-
The company has the monopoly of im- search /mtven()l rs&t/
ports of French wine. noun research designed to find out the
monopoly profit /mnpli consumers motives for purchasing a
prft/ noun profit earned by a busi- product or service
ness through having a monopoly motive /mtv/ noun something that
forces someone to take a particular
monopsonist /mnpsnst/ noun
a sole buyer of a particular product or
service move /muv/ verb to be sold, or to sell
Over Christmas the stock hardly
monopsony /mnpsni/ noun a moved at all but noe it is finally starting
situation where there is only one buyer
to sell. The sales staff will have to
for a particular product or service Mo-
work hard if they want to move all that
nopsony gives the buyer leverage in de-
stock by the end of the month.
manding a low price.
moving averages /muv
monthly /m nli/ noun a magazine v()rdz/ plural noun a method for
which is published each month The working out averages while allowing for
holidays were advertised in all the seasonal variations, in which the period
monthlies. (NOTE: plural is monthlies) under consideration is moved forward at
monthly sales report /m nli regular intervals
selz rpt/ noun a report made every multi- /m lti/ prefix referring to many
month showing the number of items things
sold or the amount of money a company
has received for selling stock In the multi-channel /m lt tn()l/ ad-
sales reports all the European countries jective using both online and offline
are bracketed together. Detailed sales methods of communication to do
reports help the sales manager work out business
an effective sales strategy. multi-channel system /m lt
morphological analysis /mf- tn()l sstm/ noun a distribution
ldik()l nlss/ noun a method system used by a producer which makes
of identifying the most profitable mar- use of more than one distribution
ket segments by exploring various di- channel
mensions such as countries and market multi-dimensional scaling /m lt
types damen()nl skel/ noun a
multilateral 177 mystery shopping

method of carrying out market research, The questionnaire had eight multiple
in which the respondents are given a choice questions, two dichotomous
scale (usually 1 to 5) on which they base questions and one open question.
their replies multiple correlation /m ltp()l
multilateral /m ltilt()rl/ adjec- krle()n/ noun a method for mea-
tive between several parties a multi- suring the effect of several independent
lateral agreement multilateral trade variables on one dependent variable
trade between several countries multiple discriminant analysis
multilevel marketing /m lti /m ltp()l dskrmnnt nlss/
lev()l mkt/ noun same as net- noun a method for assessing products
work marketing by separating out their various attrib-
multimagazine deal /m ltim"- utes, and estimating the relative values
zin dil/ plural noun a deal where dif- of these attributes to different market
ferent publishers offer advertisers the segments. The whole process produces
opportunity to buy space in their maga- an assessment of the general potential of
zines at the same time a product.
multiple pricing /m ltp()l
multimedia /m ltimidi/ adjective pras/ noun the practice of fixing the
referring to several media used in a pro- same price for several different products
ject We are going for an all-out multi-
media advertising campaign. multiple regression analysis
/m ltp()l r"re()n nlss/
multimedia document /m lti- noun a method for discovering the rela-
midi dkjmnt/ noun an elec- tionship between several independent
tronic document that contains interac- variables and one dependent variable
tive material from a range of different
media such as text, video, sound, graph- multiple store /m ltp()l st/
ics, and animation noun one store in a chain of stores
multinational /m ltin()nl/ multiplexing /m ltpleks/ noun
noun a company which has branches or an arrangement where several TV chan-
subsidiary companies in several coun- nels are transmitted by one cable net-
tries The company has been bought by work, or where several messages are
one of the big multinationals. combined in the same transmission
multi-pack offer /m lti pk f/
noun a special promotional offer in
multi-stage sample /m lt sted
which an extra pack is offered free, or at smpl/ noun a sample selected by
a reduced price, for each pack bought at ensuring equal proportions of various
full price categories existing in the population and
then using random sampling to select re-
multiple /m ltp()l/ adjective many spondents within these categories
noun a company with stores in sev-
multitasking /m ltitsk/ noun
eral different towns
performing several different tasks at the
many independents took advantage of the
bank holiday period when the big multiples same time
were closed [The Grocer] mystery /mst()ri/ noun something
the multiple brought the price down to 2.49 which cannot be explained
in some stores. We had not agreed to this deal mystery shopper /mst()ri p/
and they sold out very rapidly. When they
reordered we would not give it to them. This noun a person employed by a
kind of activity is bad for the brand and we market-research company to visit shops
cannot afford it [The Grocer] anonymously to test the quality of
multiple choice question service
/m ltp()l ts kwetn/ noun a mystery shopping /mst()ri
type of question used in a survey which p/ noun shopping done by anony-
allows the respondent to choose a single mous employees of a market-research
answer from several possible ones company to test staff reactions, etc.
naira 178 natural

naira /nar/ noun currency used in throughout a whole country, not just in a
Nigeria (NOTE: no plural; naira is usu- local area
ally written N before figures: N2,000 National Debt /n()nl det/
say two thousand naira) noun money borrowed by a government
name /nem/ noun the word used for national income /n()nl
referring to a person, animal or thing I nk m/ noun the value of income from
cannot remember the name of the man- the sales of goods and services in a
aging director of Smiths Ltd. His first country
name is John, but I am not sure of his
other names. under the name of us- nationalisation /n()nla-
ing a particular name trading under ze()n/, nationalization noun the
the name of Best Foods using the taking over of private industry by the
name Best Foods as a commercial state
name, and not the name of the company national launch /n()nl lnt/
named /nemd/ adjective the per- noun a launch of a product over the
son named in the policy the person whole country at the same time, as op-
whose name is given on an insurance posed to launching it in some areas only
policy as the person insured national newspaper /n()nl
njuzpep/ noun a newspaper which
narrowcasting /nrkst/
is sold throughout a whole country and
noun the act of reaching only a small
carries national and international news
special audience through an electronic
medium such as cable television national press /n()nl pres/
noun newspapers which sell in all parts
nation /ne()n/ noun a country and of the country The new car has been
the people living in it advertised in the national press.
national /n()nl/ adjective refer- national retailer /n()nl
ring to the whole of a particular country ritel/ noun a retailing company
national advertising advertising in which has branches throughout a
every part of a country, not just in the country
capital We took national advertising
to promote our new 24-hour delivery nationwide /nenwad/ adjective
service. national campaign a sales or all over a country We offer a nation-
publicity campaign in every part of a wide delivery service. The new car is
country being launched with a nationwide sales
national account /n()nl
kant/ noun a customer with natural /nt()rl/ adjective 1.
branches or offices all over the country found in the earth The offices are
heated by natural gas. 2. not made by
national advertiser /n()nl people They use only natural fibres
dvtaz/ noun a company that ad- for their best cloths. 3. normal It was
vertises in every part of a country, not only natural that the shopkeeper should
just in the capital city feel annoyed when the hypermarket was
national brand /n()nl brnd/ built close to his shop. It was natural
noun a brand which is recognised for the workers to feel aggrieved when
natural break 179 negotiation

the management decided to change pro- changed for cash not negotiable
duction methods without consultation. words written on a cheque to show that
natural break /nt()rl brek/ it can be paid only to a specific person
noun a convenient or reasonable point negotiable cheque a cheque made pay-
in a TV programme for a commercial able to bearer, i.e. to anyone who holds
break it
natural resources /nt()rl r- negotiable instrument /n-
zsz/ plural noun raw materials "ib()l nstrmnt/ noun a doc-
which are found in the earth, e.g. coal, ument which can be exchanged for cash,
gas or iron e.g. a bill of exchange or a cheque
navigation /nv"e()n/ noun the negotiable paper /n"ib()l
action of guiding and steering, in partic- pep/ noun a document which can be
ular the graphics which lead users to dif- transferred from one owner to another
ferent websites for cash
necessity /nsesti/ noun something negotiate /n"iet/ verb to ne-
which is vitally important, without gotiate with someone to discuss a prob-
which nothing can be done or no one lem formally with someone, so as to
can survive Being unemployed makes reach an agreement The management
it difficult to afford even the basic ne- refused to negotiate with the union. to
cessities. (NOTE: plural is necessities) negotiate terms and conditions or to
necessity product /nsesti negotiate a contract to discuss and
prd kt/ noun an ordinary everyday agree the terms of a contract he nego-
product which consumers tend not to tiated a 250,000 loan with the bank
buy much more of as their incomes rise he came to an agreement with the bank
Consumers find shopping for neces- for a loan of 250,000
sity products boring. Fancy packag- many of the large travel agency chains are
ing will not increase sales of necessity able to negotiate even greater discounts
products. [Duns Business Month]
negative /ne"tv/ adjective mean- negotiated commission /n-
ing No the answer was in the nega- "ietd km()n/ noun commis-
tive the answer was no sion agreed with an advertising agency
negative cash flow /ne"tv k before work starts, and which may be
fl/ noun a situation where more different from standard commissions
money is going out of a company than is negotiation /n"ie()n/ noun
coming in the discussion of terms and conditions
negative demand /ne"tv d- in order to reach an agreement con-
mnd/ noun firm decisions by con- tract under negotiation a contract
sumers not to buy a particular product which is being discussed a matter for
Negative demand was due to offensive negotiation something which must be
advertising. discussed before a decision is reached
negative variance /ne"tv to enter into negotiations or to start
verins/ noun a difference between a negotiations to start discussing a prob-
financial plan and its outcome that lem to resume negotiations to start
means a less favourable profit than ex- discussing a problem again, after talks
pected The unexpected increase in have stopped for a time to break off
raw material prices meant a negative negotiations to stop discussing a prob-
variance of $5000. A sudden fall in lem to conduct negotiations to nego-
revenue resulted in a negative variance tiate negotiations broke down after
for the year as a whole. six hours discussions stopped because
negotiable /n"ib()l/ adjective no agreement was possible
which can be transferred from one per- after three days of tough negotiations, the
son to another or exchanged for cash company reached agreement with its 1,200
unionized workers [Toronto Star]
not negotiable which cannot be ex-
negotiator 180 neural network

negotiator /n"iet/ noun 1. a net sales /net selz/ plural noun

person who discusses a problem with sales less damaged or returned items,
the aim of achieving agreement between discounts to retailers, etc.
different people or groups of people 2. a net weight /net wet/ noun the
person who works in an estate agency weight of goods after deducting the
nester /nest/ noun a person who has packing material and container
left the family home and is buying his or network /netw&k/ noun a system
her own home which links different points together
net /net/ adjective referring to a price, verb to link together in a network to
weight, pay, etc., after all deductions network a television programme to
have been made verb to make a true send out the same television programme
profit to net a profit of 10,000 (NOTE: through several TV stations
netting netted) network analysis /netw&k
out of its earnings a company will pay a nlss/ noun an analysis of a project
dividend. When shareholders receive this it will
be net, that is it will have had tax deducted at 30 that charts the individual activities in-
per cent [Investors Chronicle] volved, each with the time needed for its
net cash flow /net k fl/ noun completion, so that the timing of the
the difference between the money com- whole can be planned and controlled
ing in and the money going out networked system /netw&kt
net circulation /net s&kj- sstm/ noun a computer system where
le()n/ noun the total sales figure of a several PCs are linked together so that
publication after adjusting for error and they all draw on the same database or
discounting unsold copies use the same server
net cover /net k v/ noun the pro- networking /netw&k/ noun keep-
portion of a target audience exposed to ing in contact with former colleagues,
an advertisement at least once school friends, etc., so that all the mem-
bers of the group can help each other in
net loss /net ls/ noun an actual loss, their careers
after deducting overheads
network marketing /netw&k
net margin /net mdn/ noun the mkt/ noun a marketing campaign
percentage difference between received carried out through a complete maga-
price and all costs, including overheads zine network
net names /net nemz/ plural noun network programming /netw&k
the names left in a mailing list after a pr"rm/ noun the practice of
merge-purge has removed the duplicate scheduling TV programmes over the
entries whole network
net national product /net network society /netw&k s-
n()nl prd kt/ noun the gross sati/ noun a society that regularly
national product less investment on cap- uses global networks for the purposes of
ital goods and depreciation work, communication, and government
net price /net pras/ noun the price net worth /net w&/ adjective the
of goods or services which cannot be re- value of all the property of a person or
duced by a discount company after taking away what the
net profit /net prft/ noun the person or company owes The
amount by which income from sales is upmarket product is targeted at individ-
larger than all expenditure uals of high net worth.
net reach /net rit/ noun the total net yield /net jild/ noun profit from
number of people who have seen an ad- investments after deduction of tax
vertisement at least once neural network /njrl netw&k/
net receipts /net rsits/ plural noun noun a computer system designed to im-
receipts after deducting commission, itate the nerve patterns of the human
tax, discounts, etc. brain
never-never 181 nominal ledger

never-never /nev nev/ noun buy- event which is sent to newspapers and
ing on credit (informal ) She bought
. TV and radio stations so that they can
her car on the never-never. use it The company sent out a news
new /nju/ adjective recent or not old release about the new product launch.
new buy /nju ba/ noun a type of or- news stand /njuz stnd/ noun a
ganisational buying in which a com- small wooden shop on a pavement, for
pletely new product is bought selling newspapers
new entrant /nju entrnt/ noun a new technology /nju teknldi/
company which is going into a market noun electronic devices which have re-
for the first time cently been invented
new issues department /nju next matter /nekst mt/,
uz dptmnt/ noun the section of next-to-reading matter /nekst t
a bank which deals with issues of new rid mt/ noun advertising mate-
shares rial placed next to editorial matter in a
new product committee /nju
prd kt kmti/ noun a group of peo- niche /ni/ noun a special place in a
ple from different departments in a com- market, occupied by one company (a
pany who work together on a new niche company) They seem to have
product development project The new discovered a niche in the market.
product committee met regularly to niche market /ni mkt/ noun
monitor the progress in the products small speciality market, where there is
development. little competition
new product development /nju niche marketing /ni mkt/
prd kt dvelpmnt/ noun the pro- noun the promotion of a product aimed
cess of developing completely new at one particular area of the market.
products or improving existing ones concentrated marketing
The company fell behind because it Nielsen Index /nilsn ndeks/ an
failed to invest enough in new product American publication belonging to A.C.
development. Abbr NPD Nielsen, with a number of different re-
news /njuz/ noun information about tail and wholesale audit services refer-
things which have happened She al- ring to various types of outlet and
ways reads the business news or finan- different areas of the country
cial news first in the paper. Financial night rate /nat ret/ noun cheap rate
markets were shocked by the news of the for telephone calls at night
devaluation. nixies /nksiz/ plural noun US (infor-
news agency /njuz ednsi/ mal ) 1. records that do not match a file

noun an office which distributes news to correctly 2. mail returned as unable to

newspapers and television stations be delivered
new season /nju siz()n/ noun the no-change discount /n tend
start of the TV year, usually taken to dskant/ noun a reduction in the price
be the autumn and winter programming of an advertisement which uses the
season same artwork as a previous one
newsletter /njuzlet/ noun com- noise /nz/ noun a random signal
pany newsletter a printed sheet or present in addition to any wanted signal,
small newspaper giving news about a caused by static, temperature, power
company supply, magnetic or electric fields and
newspaper /njuzpep/ noun a also from stars and the sun
regular publication, usually daily or noise level /nz lev()l/ noun the
weekly, which gives items of general amount of unwanted information found
news, sold to the general public when searching the Internet
news release /njuz rlis/ noun a nominal ledger /nmn()l led/
sheet giving information about a new noun a book which records a companys
non- 182 non-verbal communication

transactions in the various accounts channels that carry a message without

(normally, all accounts except those re- involving any contact between the ad-
lating to debtors, creditors and cash, vertiser and an individual customer
which are kept in separate ledgers) non-price competition /nn pras
non- /nn/ prefix not kmpt()n/ noun an attempt to
non-acceptance /nn kseptns/ compete in a market through other
noun a situation in which the person means than price such as quality of
who is to pay a bill of exchange does not product and promotion
accept it non-profit-making organisation
non-business organisation /nn /nnprftmek "nazen/,
bzns "naze()n/ noun US an non-profit organisation /nn prft
organisation (such as a club) which is "naze()n/ noun an organisa-
not allowed by law to make a profit tion (such as a club) which is not al-
Though only a non-business organisa- lowed by law to make a profit
tion, the charity used highly sophisti- Non-profit-making organisations are
cated marketing techniques. He exempted from tax. (NOTE: Non-profit
became a fundraiser for a non-business organisations include charities, pro-
organisation. fessional associations, trade unions,
and religious, arts, community, re-
non-delivery /nn dlv()r/ noun search, and campaigning bodies. The
the failure to deliver goods that have American English is non-profit
been ordered corporation.)
non-directive interview /nn da- non-refundable /nn rf ndb()l/
rektv ntvju/, non-directed inter- adjective which will not be refunded
view /nn darektd ntvju/ noun You will be asked to make a
an interview in which the questions are non-refundable deposit.
not set in advance and no fixed pattern
is followed Non-directed interviews
non-returnable /nn rt&nb()l/
adjective which cannot be returned
give candidates a good chance to show
their creative potential. non-returnable packing /nn r-
t&nb()l pk/ noun packing
non-durables /nn djrb()lz/, which is to be thrown away when it has
non-durable goods /nn djrb()l
been used and not returned to the sender
"dz/ plural noun goods which are used
up soon after they have been bought, non-statistical error /nn st-
e.g. food or newspapers tstk()l er/ noun a distortion of the
results of a survey owing to bias and
non-franchise-building promo- mistakes made in conducting the survey
tion /nn frntaz bld pr-
m()nz/ noun sales promotion non-store retailing /nn st
aimed at increasing sales in the short ritel/ noun the selling of goods and
term, without increasing customer loy- services electronically without setting
alty or repeat sales up a physical shop
non-negotiable instrument /nn non-traditional media /nn tr-
n"b()l nstrmnt/ noun a d()n()l midi/ noun support
document which cannot be exchanged media
for cash, e.g. a crossed cheque non-verbal communication /nn
non-payment /nn pemnt/ noun v&b()l kmjunke()n/ noun
non-payment of a debt the act of not any form of communication that is not
paying a debt that is due expressed in words (NOTE: Non-verbal
communication, which includes, for ex-
non-personal /nn p&s()n()l/ ample, body language, silence, failure
adjective which does not apply to an in- or slowness to respond to a message
dividual person and lateness in arriving for a meeting,
non-personal channels /nn is estimated to make up 6590% of all
p&s()n()l tn()lz/ plural noun communication.)
no returns policy 183 numeric data

no returns policy /n rt&nz 200 on the 30th of each month until

plsi/ noun a trading policy where the further notice. 2. the time allowed be-
supplier will not take back unsold mer- fore something takes place at short
chandise in exchange for credit, and in notice with very little warning The
return allows the retailer an extra bank manager will not see anyone at
discount short notice. you must give seven
normal /nm()l/ adjective usual or days notice of withdrawal you must
which happens regularly Normal de- ask to take money out of the account
liveries are made on Tuesdays and Fri- seven days before you want it
days. Now that supply difficulties noticeboard /ntsbd/ noun a
have been resolved we hope to resume board fixed to a wall where notices can
normal service as soon as possible. be put up Did you see the new list of
under normal conditions if things prices on the noticeboard?
work in the usual way Under normal noting /nt/ noun the act of notic-
conditions a package takes two days to ing, though not necessarily reading and
get to Copenhagen. understanding, an advertisement in a
normal distribution /nm()l publication
dstrbju()n/ noun a term used in noting score /nt sk/ noun the
sampling theory, referring to the results percentage of total readers who note an
of a sample and meaning a symmetrical advertisement The amount of adver-
distribution of values around a mean or tising we will need to do depends on the
average, so that you can be confident anticipated noting score.
that the sample is properly representa- novelty /nv()lti/ noun an original
tive of the people being surveyed in a amusing article which is often bought as
study a gift A novelty shop provided paper
normal price /nm()l pras/ noun hats for parties.
the price that can be expected for a NPD abbr new product development
product under normal market conditions null /n l/ adjective 1. with no meaning
normal product /nm()l 2. which cannot legally be enforced
prd kt/ noun a product which people the contract was declared null and
buy more of as their incomes rise and void the contract was said to be not
less of as their incomes fall valid to render a decision null to
normal profit /nm()l prft/ make a decision useless or to cancel it
noun a minimum profit that can moti- nullification /n lfke()n/ noun
vate a business to carry on a type of pro- an act of making something invalid
duction or selling nullify /n lfa/ verb to make some-
note /nt/ noun a short letter or short thing invalid or to cancel something
piece of information to send someone (NOTE: nullifying- nullified)
a note I left a note on her desk. verb numeric /njumerk/, numerical
to notice an advertisement in a publica- /njumerk()l/ adjective referring to
tion but not necessarily read or under- numbers in numerical order in the
stand it order of figures, e.g. 1 before 2, 33 be-
notice /nts/ noun 1. an official fore 34 File these invoices in numeri-
warning that a contract is going to end cal order.
or that terms are going to be changed numeric data /njumerk det/
until further notice until different in- noun data in the form of figures
structions are given You must pay
O&M 184 off

O & M abbr organisation and methods date because of progress in design or

objective /bdektv/ noun some- technology, and therefore becoming less
thing which you hope to achieve The useful or valuable
company has achieved its objectives. obsolescent /bsles()nt/ adjec-
We set the sales forces specific objec- tive becoming out of date
tives. adjective considered from a
general point of view rather than from obsolete /bslit/ adjective no lon-
that of the person involved You must ger used Computer technology
be objective in assessing the perfor- changes so fast that hardware soon be-
mance of the staff. They have been comes obsolete.
asked to carry out an objective survey of odd /d/ adjective one of a group we
the market. have a few odd boxes left we have a
objective and task method /b- few boxes left out of the total shipment
dektv med/ noun a method of to do odd jobs to do various pieces of
calculating an advertising appropriation work
by setting objectives, deciding what odd-even pricing /d iv()n
tasks are needed to achieve them and pras/ noun the practice of using odd
then calculating the actual costs numbers such as 0.95 or 0.99 or even
involved numbers such as 1.00 or 2.50 when pric-
obligation /bl"e()n/ noun 1. a ing, because this seems to be most effec-
duty to do something There is no obli- tive psychologically in persuading
gation to buy. two weeks free trial customers to buy Students can study
without obligation the customer can try the psychological bases of odd-even
the item at home for two weeks without pricing.
having to buy it at the end of the test odd lot /d lt/ noun a group of mis-
to be under an obligation to do some- cellaneous items for sale at an auction
thing to feel it is your duty to do some-
oddments /dmnts/ plural noun
thing he is under no contractual
1. items left over 2. pieces of large items
obligation to buy he has signed no con-
sold separately
tract which forces him to buy 2. a debt
to meet your obligations to pay your odd number /d n mbz/ noun
debts numbers which cannot be divided by
observation method /bzven two, e.g. 17 or 33 Buildings with odd
med/, observational research numbers are on the south side of the
/bzven()l rs&t/ noun a mar- street
ket research method that obtains infor- odd size /d saz/ noun a size which
mation through personal observation, is not usual
rather than interviews The observa- off /f/ adverb 1. not working or not in
tion method does not tell you anything operation The agreement is off.
about the consumers attitudes to the They called the strike off. 2. lower than
product. a previous price The shares closed 2%
obsolescence /bsles()ns/ noun off. We give 5% off for quick settle-
the process of a product going out of ment. preposition subtracted from
off-card rate 185 off-the-peg research

to take 25 off the price We give 10% official receiver /f()l rsiv/
off our normal prices. noun a government official who is ap-
its stock closed Monday at $21.875 a share in pointed to run a company which is in fi-
NYSE composite trading, off 56% from its high nancial difficulties, to pay off its debts
last July [Wall Street Journal] as far as possible, and to close it down
off-card rate /f kd ret/ noun a The court appointed a receiver for the
specially arranged price, lower than that company. The company is in the
on the rate card, for advertising space or hands of the receiver.
time The newspaper offered us an off-licence /f las()ns/ noun 1. a
off-card rate for space which was still shop which sells alcohol for drinking at
empty the day before publication. home 2. a licence to sell alcohol for
offensive spending /fensv drinking away from the place where you
spend/ noun spending on advertising buy it
which aims to attract users of a rival offload /fld/ verb to pass some-
brand or to attack the competition thing which you do not want to someone
offer /f/ noun 1. a statement that else to offload excess stock to try to
you are willing to pay a specific amount sell excess stock to offload costs onto
of money to buy something to make a subsidiary company to try to get a
an offer for a company We made an subsidiary company to pay some
offer of 10 a share. We made a writ- charges so as to reduce tax
ten offer for the house. 1,000 is the off-peak /f pik/ adjective not dur-
best offer I can make. We accepted an ing the most busy time
offer of 1,000 for the car. the house off-peak period /f pik prid/
is under offer someone has made an of- noun the time when business is less
fer to buy the house and the offer has busy
been accepted provisionally we are
open to offers we are ready to discuss
off-price label /f pras leb()l/
noun a label on a product which shows a
the price which we are asking or near
reduced price
offer or or best offer US or an offer of
a price which is slightly less than the off-season noun /f siz()n/ the
price asked The car is for sale at less busy season for travel, usually dur-
2,000 or near offer. 2. a statement that ing the winter Air fares are cheaper in
you are willing to sell something offer the off-season.
for sale a situation where a company offset / fset/ noun a method of print-
advertises new shares for sale to the ing from a plate to a rubber surface and
public as a way of launching the com- then to paper
pany on the Stock Exchange. The other offset lithography /fset l-
ways of launching a company are a ten- "rfi/ noun a printing process used
der or a placing. 3. She received for printing books, where the ink sticks
six offers of jobs/six job offers six to image areas on the plate and is trans-
companies told her she could have a job ferred to an offset cylinder from which
with them verb 1. to say that you are it is printed on to the paper
willing to pay a specific amount of
money for something to offer some- off-the-page buying /f ped
one 100,000 for their house She of- ba/ noun the buying of items which
fered 10 a share. 2. to say that you are have been advertised in magazines or
willing to sell something We offered newspapers
the house for sale. They are offering off-the-peg /f pe"/ adjective,
special prices on winter holidays in the adverb ready made in standard sizes,
USA. and not fitted specially She buys all
Office of Fair Trading /fs v fe her clothes off-the-peg.
tred/ noun a government depart- off-the-peg research /f pe" r-
ment which protects consumers against s&t/ noun the practice of taking re-
unfair or illegal business. Abbr OFT search which has already been carried
oil-exporting country 186 open

out in another context, and using it as one-time order /w n tam d/
the basis for taking particular decisions noun an order for an advertising spot for
oil-exporting country /l k- a particular time which is not scheduled
spt k ntri/ noun country which to be repeated
produces oil and sells it to others one-time rate /w n tam ret/ noun
a special rate for an advertisement that
oligopoly /l"pli/ noun a situa- is only placed once
tion where only a few sellers control the
market An oligopoly means that one-to-one /w n t w n/ adjective
prices can be kept high. where one person has to deal with one
other person only
oligopsony /l"psni/ noun a sit-
uation where only a few buyers control one-to-one marketing /w n t
the market w n mkt/ noun marketing
through a website which aims to estab-
omnibus advertisement lish a personal relationship with a cus-
/mnbs dv&tsmnt/ noun an ad- tomer, selling to each customer as an
vertisement which covers several differ- individual and trying to differentiate be-
ent products tween customers
omnibus agreement /mnbs on-hold advertising /n hld
"rimnt/ noun an agreement which dvtaz/ noun advertising to tele-
covers many different items phone callers while they are waiting to
omnibus research /mnbs r- be connected to the person they want to
s&t/, omnibus survey /mnbs speak to, usually involving voice mes-
s&ve/ noun a survey to which several sages about the firm and its products
companies subscribe, each adding spe- online /nlan/ adverb linked directly
cific questions of its own to a mainframe computer The sales
oncosts /nksts/ plural noun office is online to the warehouse. We
money spent in producing a product get our data online from the stock con-
which does not rise with the quantity of trol department.
the product made (NOTE: also called there may be a silver lining for
clicks-and-mortar stores that have both an
fixed costs) online and a high street presence. Many of these
one-sided /w n sadd/ adjective are accepting returns of goods purchased online
at their traditional stores. This is a service that
which favours one side and not the other may make them more popular as consumers
in a negotiation a one-sided become more experienced online shoppers
agreement [Financial Times]
one-sided message /w n sadd online shopping /nlan p/
mesd/ noun a message which only noun same as electronic shopping
gives the benefits of a product or service online shopping mall /nlan
one-step approach /w n step p ml/ noun same as cyber mall
prt/ noun a form of direct market- on-pack promotion /n pk pr-
ing where advertisements are used to m()n/ noun advertising material
obtain orders directly on the outside of packaged goods We
one-stop /w n stp p/ adjec- use on-pack promotion to stimulate buy-
tive offering a wide range of services to ing at the point-of-sale. Our on-pack
a customer, not necessarily services promotion is designed to complement
which are related to the product or ser- the TV advertising campaign.
vices which the company normally sells op-ed /p ed/ noun in a newspaper, a
one-stop shopping centre /w n page that has signed articles expressing
stp p sent/ noun a shopping personal opinions, usually found oppo-
centre with a comprehensive choice of site the editorial page
shops and supermarkets, designed to open /pn/ adjective ready to ac-
cover all of a customers shopping cept something the job is open to all
needs applicants anyone can apply for the job
open account 187 operant conditioning

open to offers ready to accept a rea- licence for all goods which are subject
sonable offer the company is open to to special import restrictions
offers for the empty factory the com- opening /p()n/ noun 1. the act
pany is ready to discuss an offer which of starting a new business the opening
is lower than the suggested price verb of a new branch the opening of a new
to start a new business She has market or of a new distribution network
opened a shop in the High Street. We 2. opportunity to do something adjec-
have opened a branch in London. tive being at the beginning, or the first
open account /pn kant/ of several
noun an account where the supplier of-
opening balance /p()n
fers the purchaser credit without blns/ noun a balance at the begin-
security ning of an accounting period
open-air market /pn e
mkt/ noun a market which is held opening bid /p()n bd/ noun
on stalls in the open air the first bid at an auction
open communication /pn opening entry /p()n entri/
kmjunke()n/ noun a policy in- noun the first entry in an account
tended to ensure that employees are able opening hours /p()n az/
to find out everything they want to plural noun hours when a shop or busi-
know about their organisation ness is open
open credit /pn kredt/ noun opening sentence /p()n
credit given to good customers without sentns/ noun the first sentence in an
security email
open dating /pn det/ noun opening stock /p()n stk/
the practice of putting the sell-by date noun the stock details at the beginning
on a packet in an uncoded form which of an accounting period
can be understood by the consumers open market /pn mkt/ noun
Open dating is considered by many to a market where anyone can buy or sell
be an important feature of consumer
protection in food products. open pricing /pn pras/ noun
the attempt by companies to achieve
open-door policy /pn d some cooperation and conformity in
plsi/ noun policy in which a country pricing Representatives from the ma-
accepts imports from all other countries jor companies in the industry are meet-
on equal terms ing to establish an open-pricing policy.
open-ended /pn endd/ adjec-
tive with no fixed limit or with some
open rate /pn ret/ noun an ad-
items not specified They signed an vertising rate where discounts are avail-
open-ended agreement. The candidate able for frequent or bulk orders
was offered an open-ended contract open standard /pn stndd/
with a good career plan. (NOTE: Ameri- noun a standard for computers and re-
can English is open-end) lated products that allows pieces of
open-ended question /pn equipment from different manufacturers
endd kwestn/ noun a question in a to operate with each other
questionnaire which allows respondents open up /pn  p/ verb to open
to answer in some detail as they like up new markets to work to start busi-
without having simply to say yes or ness in markets where such business has
no Open-ended questions elicit an- not been done before
swers that are original but hard to eval- operant conditioning /prnt
uate. An open-ended question is knd()n/ noun a learning theory
needed here, since the question involves stating that behaviour can be modified
the respondents personal feelings. by stimuli and also by the consequences
open general licence /pn which follow on from the behaviour
den()rl las()ns/ noun an import itself
operate 188 opinion shopping

operate /pret/ verb 1. to be in operational /pre()nl/ adjec-

force The new terms of service will tive 1. referring to how something
operate from January 1st. The rules works 2. working or in operation
operate on inland postal services only. operational budget /pre()nl
2. to make something work or function b dt/ noun a forecast of expenditure
to operate a machine to make a ma- on running a business
chine work He is learning to operate
the new telephone switchboard. operational costs /pre()nl
the company gets valuable restaurant
ksts/ plural noun the costs of running
locations which will be converted to the a business
family-style restaurant chain that it operates and operational planning
franchises throughout most parts of the US
[Fortune] /pre()nl pln/ noun the plan-
ning of how a business is to be run
operating /pret/ noun the gen-
eral running of a business or of a operational research
machine /pre()nl rs&t/ noun a study
the company blamed over-capacity and
of a companys way of working to see if
competitive market conditions in Europe for a it can be made more efficient and
14m operating loss last year [Financial Times] profitable
operating budget /pret operations review /pre()z r-
b dt/ noun a forecast of income and vju/ noun examining the way in which
expenditure over a period of time a company or department works to see
how it can be made more efficient and
operating manual /pret profitable
mnjl/ noun a book which shows
how to work a machine opinion-former /pnjn fm/,
opinion-leader /pnjn lid/ noun
operating statement /pret someone well known whose opinions
stetmnt/ noun a financial statement influence others in society A pop-star
which shows a companys expenditure is the ideal opinion-leader if we are
and income and consequently its final aiming at the teenage market. The ce-
profit or loss The operating statement lebrity used in the sales promotion cam-
shows unexpected electricity costs. paign was not respected enough to be a
Lets look at the operating statement to true opinion-former.
find last months expenditure.
opinion-leader research /pnjn
operating supplies /pret s- lid rs&t/ noun research into the at-
plaz/ plural noun low-priced industrial titudes of opinion-leaders
products that are normally bought by
producers Production came to a opinion poll /pnjn pl/ noun
standstill for lack of operating supplies. asking a sample group of people what
We are now ordering operating sup- their opinion is, so as to guess the opin-
plies for next months production. ion of the whole population Opinion
polls showed that the public preferred
operating system /pret butter to margarine. Before starting
sstm/ noun the main program which the new service, the company carried
operates a computer out nationwide opinion polls.
operation /pre()n/ noun busi- opinion shopping /pnjn
ness organisation and work the com- p/ noun the practice of trying to
panys operations in West Africa He find an auditor who interprets the law in
heads up the operations in Northern the same way that the company does, is
Europe. likely to view the companys actions
a leading manufacturer of business, sympathetically and will approve the
industrial and commercial products requires a companys financial statements, even if
branch manager to head up its mid-western
Canada operations based in Winnipeg the company has been involved in deal-
[Globe and Mail (Toronto)] ings that other auditors might consider
opportunities to see 189 order

opportunities to see /ptjuntiz cise an option to accept the option

t si/ plural noun the number of op- which has been offered and to put it into
portunities an average member of the action They exercised their option or
target audience will have to see an ad- they took up their option to acquire sole
vertisement. Abbr OTS marketing rights to the product. I
opportunity /ptjunt/ noun the want to leave my options open I want
chance to do something successfully to be able to decide what to do when the
the group is currently undergoing a period of time is right
rapid expansion and this has created an exciting optional /pn()l/ adjective which
opportunity for a qualified accountant
[Financial Times] can be added if the customer wants
The insurance cover is optional.
opportunity and threat analysis
/ptjunt n ret nlss/ noun optional extra /pn()l ekstr/
a companys analysis of both the advan- noun an item that is not essential but can
tages and disadvantages in its situation, be added if wanted
done in order to ensure sound strategic opt out /pt at/ noun the action of
planning asking not to receive advertising email
opportunity cost /ptjunt messages and being removed from an
kst/ noun the cost of a business initia- email list
tive in terms of profits that could have OR abbr operational research
been gained through an alternative plan Oracle /rk()l/ a UK teletext ser-
Its a good investment plan and we vice broadcast by the IBA
will not be deterred by the opportunity
cost. orange goods /rnd "dz/ plural
noun goods which are not bought as of-
optimal /ptm()l/ adjective best ten as fast-moving items but are re-
optimal balance /ptm()l placed from time to time, e.g. clothing.
blns/ noun the best combination of Compare red goods, yellow goods
elements or activities that can be orbit /bt/ noun the practice of rotat-
achieved in a marketing mix If it ing advertisements among different
achieves optimal balance the company programmes on a TV station
will soon be a market leader.
opt-in /pt n/ noun a process that re- order /d/ noun 1. an official re-
quest for goods to be supplied to give
quires people who want to receive infor-
someone an order or to place an order
mation or services for a website to do
with someone for twenty filing cabinets
something that shows they have actively
to fill an order or to fulfil an order
chosen to do so, before the website
to supply items which have been or-
owner can send them email
dered We are so understaffed we can-
opt-in mailing list /pt n mel not fulfil any more orders before
lst/ noun a list of email addresses in Christmas. items available to order
which each recipient has specifically only items which will be manufactured
asked to receive advertising email mes- only if someone orders them on order
sages, normally so that they can keep up ordered but not delivered This item is
to date with a topic or industry out of stock, but is on order. 2. an item
option /pn/ noun the opportunity which has been ordered The order is
to buy or sell something within a fixed to be delivered to our warehouse. 3. an
period of time at a fixed price to have instruction 4. a document which allows
first option on something to have the money to be paid to someone She sent
right to be the first to have the possibil- us an order on the Chartered Bank. 5.
ity of deciding something to grant pay to Mr Smith or order pay money
someone a six-month option on a to Mr Smith or as he orders pay to the
product to allow someone six months order of Mr Smith pay money directly
to decide if they want to be the agent or to Mr Smith or to his account verb 1.
if they want to manufacture the product, to ask for goods to be supplied They
etc. to take up an option or to exer- ordered a new Rolls Royce for the man-
order book 190 outbid

aging director. 2. to instruct to order we organize a rate with importers who have
twenty filing cabinets to be delivered to large orders and guarantee them space at a fixed
rate so that they can plan their costs
the warehouse [Lloyds List]
order book /d bk/ noun a book governments are coming under increasing
which records orders received pressure from politicians, organized labour and
business to stimulate economic growth
order confirmation /d knf- [Duns Business Month]
me()n/ noun an email message in- organised market /"nazd
forming a purchaser that an order has mkt/ noun a market controlled by
been received regulations set down by government or
order form /d fm/ noun a pad an official organisation The govern-
of blank forms for orders to be written ment feels that an organised market is
on not conducive to business initiative.
order fulfilment /d flflmnt/ organisation and methods
noun supplying items which have been /"naze()n n medz/ noun a
ordered process of examining how an office
order number /d n mb/ noun works, and suggesting how it can be
the reference number printed on an made more efficient. Abbr O & M
order orientation /rinte()n/ noun
order picking /d pk/ noun the main interest or type of activity
the process of collecting various items The companys orientation is towards
in a warehouse in order to make up an production and it has little marketing
order to be sent to a customer experience.
order taking /d tek/ noun the oriented /rientd/, orientated
action of taking an order, the main re- /rintetd/ adjective interested in
sponsibility of the salesperson or involved with Our strategy is ori-
ented towards achieving further growth
organisation /"naze()n/, in the export market. The promotion is
organization noun 1. a way of arrang- entirely product-oriented.
ing something so that it works effi-
ciently the organisation of the head origin /rdn/ noun the place where
office into departments The chairman something or someone originally comes
handles the organisation of the AGM. from spare parts of European origin
The organisation of the group is too original /rdn()l/ adjective
centralised to be efficient. 2. a group or which was used or made first They
institution which is arranged for effi- sent a copy of the original invoice. He
cient work kept the original receipt for reference.
working with a client base which includes noun the first copy made Send the
many major commercial organizations and original and file two copies.
nationalized industries [Times]
originally /rdn()l/ adverb first
organisational buying /"na- or at the beginning
ze()nl ba/ noun buying by a original purchase /rdn()l
large organisation, such as a company or p&ts/ noun a copy of a magazine or
government department, as opposed to newspaper which is actually bought by
purchases by individual consumers the reader, rather than simply read by
organisation chart /"na- them
ze()n tt/ noun a diagram show- OS abbr outsize
ing how a company or an office is
O/S abbr out of stock
OTO abbr one time only
organise /"naz/, organize verb
to set up a system for doing something OTS abbr opportunities to see
the company is organised into six outbid /atbd/ verb to offer a better
profit centres the group is organised price than someone else We offered
by sales areas 100,000 for the warehouse, but an-
outdoor 191 over-

other company outbid us. (NOTE: out- outsell /atsel/ verb to sell more than
bidding outbid) someone The company is easily out-
outdoor /atd/ adjective in the selling its competitors. (NOTE: outsell-
open air ing outsold)
outdoor advertising /atdr outside broadcast /atsad
dvtaz/ noun 1. advertising on the brdkst/ noun a programme not
outside of a building or in the open air, transmitted from a studio
using posters on hoardings or neon signs outside director /atsad da-
2. advertising in the open air, including rekt/ noun a director who is not em-
advertising in public transport, on ployed by the company, a non-executive
roadsides, at bus stops, skywriting, etc. director
outer /at/ noun a piece of packag- outside poster /atsad pstz/
ing which covers items which already noun a poster on public transport
are in packages such as buses, taxis, trains and the
outer pack /at pk/ noun a con- underground
tainer which holds a number of smaller outsize /atsaz/ noun a size which
packaged items The goods are sold in is larger than usual. Abbr OS outsize
outer packs, each containing twenty order a very large order
outlet /atlet/ noun a place where outsource /atss/ verb to use a
source outside a company or business to
something can be sold
do the work that is needed
out-of-date /at v det/ adjective,
adverb old-fashioned or no longer mod- outsourcing /atss/ noun the
ern Their computer system is years transfer of work previously done by em-
out of date. Theyre still using ployees of an organisation to another or-
out-of-date equipment. ganisation, usually one that specialises
in that type of work (NOTE: Things that
out-of-home advertising /at v have usually been outsourced in the
hm dvtaz/ noun outdoor ad- past include legal services, transport,
vertising including transport, catering, and security, but nowadays
skywriting, etc. IT services, training, and public rela-
out of stock /at v stk/ adjective, tions are often added to the list.)
adverb with no stock left Those books organizations in the public and private
are temporarily out of stock. Several sectors are increasingly buying in specialist
out-of-stock items have been on order services or outsourcing allowing them to cut
costs and concentrate on their core business
for weeks. Abbr O/S activities [Financial Times]
output /atpt/ noun the amount
which a company, person or machine outstanding /atstnd/ adjective
produces Output has increased by not yet paid or completed outstand-
10%. 25% of our output is exported. ing debts debts which are waiting to be
crude oil output plunged during the last paid outstanding orders orders re-
month and is likely to remain near its present ceived but not yet supplied what is
level for the near future [Wall Street Journal] the amount outstanding? how much
output bonus /atpt bns/, money is still owed? matters out-
output-based bonus /atpt best standing from the previous meeting
bns/ noun an extra payment for in- questions which were not settled at the
creased production previous meeting
output per hour /atpt pr a/ outward mission /atwd
noun the amount of something produced m()n/ noun a visit by a group of
in one hour businesspeople to a foreign country
output tax /atpt tks/ noun VAT over- /v/ prefix more than shop
charged by a company on goods or ser- which caters to the over-60s a shop
vices sold, and which the company pays which has goods which appeal to people
to the government who are more than sixty years old
overall 192 over-the-counter sales

overall /vrl/ adjective covering overprint /vprnt/ verb to print

or including everything the company text on paper which already contains
reported an overall fall in profits the printed matter The retailers name
company reported a general fall in prof- and address is overprinted on the cata-
its overall plan a plan which covers logue. We will overprint the catalogue
everything with the retailers name and address.
overcharge noun /vtd/ a overproduce /vprdjus/ verb
charge which is higher than it should be to produce too much of a product
to pay back an overcharge verb overproduction /vprd kn/
/vtd/ to ask too much money noun the manufacturing of too much of
They overcharged us for our meals. a product
We asked for a refund because wed
been overcharged. overrider /vrad/, overriding
commission /vrad k-
overhead budget /vhed m()n/ noun a special extra commis-
b dt/ noun a plan of probable over- sion which is above all other
head costs commissions
overhead costs /vhed ksts/, overseas adjective /vsiz/ across
overhead expenses /vhed k- the sea or to foreign countries Man-
spensz/ plural noun money spent on agement trainees knew that they would
the day-to-day cost of a business be sent overseas to learn about the ex-
overheads /vhedz/ plural noun port markets. Some workers are going
the costs of the day-to-day running of a overseas to find new jobs. overseas
business The sales revenue covers the markets markets in foreign countries
manufacturing costs but not the over- overseas trade trade with foreign coun-
heads. (NOTE: American English is usu- tries noun foreign countries The
ally overhead.) profits from overseas are far higher
it ties up less capital in inventory and with its
than those of the home division.
huge volume spreads out costs over bigger sales; overseas call /vsiz kl/ noun
add in low overhead (i.e. minimum staff, no a call to another country
deliveries, no credit cards) and a warehouse club
can offer bargain prices [Duns Business Month] overseas division /vsiz d-
v()n/ noun the section of a company
overkill /vkl/ noun a very inten- dealing with trade with other countries
sive and expensive marketing campaign
which has the effect of putting potential oversell /vsel/ verb to sell more
customers off than you can produce he is oversold
he has agreed to sell more product than
overlay /vle/ noun a transparent he can produce the market is over-
plastic sheet placed over artwork with sold stock-market prices are too low,
instructions for changing it, or showing because there have been too many
the artwork is to be printed sellers
overmatter /vmt/, overspend /vspend/ verb to
oversetting /vset/ noun text spend too much
which, when it is typeset, is too long for
the space available overstock /vstk/ verb to have
more stock than is needed to be over-
overpayment /vpemnt/ noun stocked with spare parts to have too
an act of paying too much many spare parts in stock
overprice /vpras/ verb to give a overstocks /vstks/ plural noun
higher price to something than seems US more stock than is needed to supply
reasonable orders We will have to sell off the
overpricing /vpras/ noun the overstocks to make room in the
charging of a higher price than is justi- warehouse.
fied by demand Overpricing led to the over-the-counter sales /v
producer being priced out of the market. kant selz/ plural noun the legal
overweight 193 own-label goods

selling of shares which are not listed in owner /n/ noun a person who
the official Stock Exchange list, usually owns something goods sent at
carried out by telephone owners risk a situation where the
overweight /vwet/ adjective owner has to insure the goods while
the package is sixty grams overweight they are being transported
the package weighs sixty grams too own label /n leb()l/ noun goods
much specially produced for a store with the
Cash paid for your stock: any quantity, any stores name on them
products, overstocked lines, factory seconds
[Australian Financial Review] own-label goods /n leb()l
"dz/ plural noun goods specially pro-
own brand /n brnd/ noun the duced for a store with the stores name
name of a store which is used on prod- on them
ucts which are specially packed for that the company is hunting for a marketing
store director as part of an effort to expand its
own-brand goods /n brnd non-food division and introduce own-label. It