Selling Business Vocabulary

Definition

The vocabulary of sales and marketing is concerned with the exchange of goods and services, as well as activities like market analysis, advertising, and sales. While "marketing" refers to the strategies and tactics used in selling and promoting items or services in order to boost sales, "sales" refers to the act of selling and promoting products or services.

Having a strong vocabulary is essential for anyone in business. Whether you're communicating with clients, colleagues, or customers, using the right words can help you make a great impression and get ahead.

Fortunately, there are plenty of words out there to help you build your business vocabulary. Here are a few of our favourites:

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Elements

• Agent: a person or company that acts for another and provides a specified service
• B2B: Business to business
• B2C: Business to consumer
• Benchmarking: Comparing the products with the competitor’s for quality and performance
• Buyer: Any person that makes a purchase
• Cash refund offer: Offer to pay back the purchase price of a product to customers
• Chain store: series of stores owned by the same owner and sell similar lines of merchandise
• Client: a person or organization who is using the services of a lawyer or other professional person or company
• Close: to finish a sale or deal
• Convenience store: Small shop with extended opening hours and in a convenient location
• Coupon: A voucher offering a discount for a particular product
• Deal: A business transaction
• Department store: a large store with many varieties of goods in different departments
• Discount: price reduction
• E-commerce: Buying and selling on the Internet
• E-marketing: Promoting products and services over the Internet
• Follow-up: keep contact after the sale for customer satisfaction
• Franchise: dealership
• Guarantee: promise or assurance that the product will be repaired or replaced if faulty
• Intranet: A local network within a company
• Joint venture: to join with a foreign company to manufacture or sell a product or service
• Market leader: the company selling the largest quantity of a particular type of product
• Mark up: the amount added to the cost price of goods to cover overhead and profit
• Packaging: putting products into containers
• Product line: A group of similar and related products or services
• Prespect: A possible customer
• Representative: A person representing and selling for a company
• Retail: To sell to the public in shops
• Shopping centre: a large building with shops with a common car parking area
• Trade fair: An exhibition where companies can show or demonstrate similar products
• Wholesale: Selling in large amounts at low prices for resale
• brand: particular product
• consumer: a person who purchases goods and services for personal use
• cost: estimating the price of making a product
• develop: making a new product or upgrading an existing one
• digital marketing: marketing by means of digital devices
• distribution: the giving the products to customers
• end-user: the final user of a product
• image: the impression of general public for a company or product
• label: small piece of paper or cloth on a product with information
• launch: introducing a new product to public
• market research: making a research on consumers’ needs and preferences
• online: being connected to internet
• point of sale: the place where a product is sold to the public
• product: merchandise

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Conclusion

With these resources at your disposal, you'll be able to build a strong business vocabulary and communicate with confidence.

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