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So many of you may be looking for topics on production management. This vocabulary sheet will talk about that as well as the following points:

  • List of business words, their meaning and some examples.
  • Tips for learning vocabulary efficiently.

Read on to find out and start learning English at your own pace!

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Vocabulary List of Useful Business-Related Terms

Let’s go over some essential business words.

man closing a box with tape

Aging of a product:

The length of time the product has been kept in storage, which can affect its quality and value.

Example: These computers must be sold quickly, they’re aging.

Aseptic packaging:

Product conditioning by sterilising and by leak proof sealing of packages.

Example: These vegetables will be shipped far, they need aseptic packaging.

Audit of a product:

To assess the adequacy and safety of a manufactured product for use by consumers.

Example: This toy should be audited, checked for compliance with relevant standards, and without any manufacturing or design defect.

Barcode:

Fine stripes printed on the packaging to identify a product by scanning.

Example: Nowadays, a simple scanning of the barcode is all it takes to pay for a product.

Bargain:

Advantageous purchase/acquisition of an article.

Example: During the summer sales, I got some great bargains.

Bonus:

A one-off and usually temporary incentive to increase sales of the product involved.

Example: By purchasing this fridge, you will get an iron as an included bonus.

Brand:

A design with or without a name to identify and customise a company.

Example: Cartier is a worldwide famous brand.

Brand image:

The perception and the reputation of an entity, more often of a company.

Example: To boost sales, the brand has thoroughly revamped its image.

Clustering:

Grouping of products from different sources to reduce costs by transporting them together to the point of delivery.

Example: We should use more clustering products, it would save us extra costs.

Co-branding:

This refers to the linking or partnering of two or more brands.

Example: In times of crisis, co-branding is widespread.

Consumer:

The last chain of a product, the ones that choose and buy it.

Example: Grow more melons, the consumers crave them.

Cost:

It’s the sum of the expenses incurred by an industry for the production and distribution of a good or service. Or it could be the price of a product for the consumer.

Example: This sofa had a high cost, it should be amortised.

Churn rate:

The ratio of individuals who don’t complete a purchase, a registration procedure or a survey, compared to the total number of individuals who have started the process.

Exemple: The churn rate of our product has increased by six per cent this year.

Demand:

It’s the quantity of a product requested by buyers for a given price. Usually, as the price increases, the quantity offered increases and the ‘demand’ decreases.

Exemple: Product sales are based on the law of supply and demand.

Direct marketing:

All customised or tailored campaigns intended to get a more or less instant reaction from the customer (order, requests for a quote, toll-free call, making an appointment…).

Example: Has the secretary updated the customer file for direct marketing.

Display:

Presentation of goods at a specific location for a limited period of time. They are usually exhibited on a stand.

Example: Would you please prepare the goods for our annual display?

Distribution:

The whole process of delivering a product to the final consumer, be it a private individual or a company.

Exemple: The distribution of these goods must work perfectly to avoid waste.

Eco-friendly:

It’s a product that has minimal impact on the environment throughout its life cycle.

Example: It’s a matter of emergency to use eco-friendly products, let’s shop locally.

Eighty-twenty principles:

According to the famous Pareto’s Law, 80% of the results are the consequences of 20% of the actions in a repetitive pattern or, seen in a different way, 20% of the causes produce 80% of the effects.

Example: 80% of the rain is produced by less than 20% of the clouds.

Erratic demand:

A pattern of consumers requests for a good that is versatile and non-predictable.

Exemple: We need to apply discounts to encourage consumers to extend their purchases on the erratic demand products.

Express warranty:

Any oral or written statement made by a seller or shop assistant about the quality, condition, quantity or function of a product.

Example: The seller has given us the assurance that these glasses are shatter-proof. It’s an express warranty.

Feature:

The use of any advertising method to focus consumers’ attention on a specific product for a short period of time.

Example: Featured products are often on the landing page of a sales platform.

Full warranty:

It covers repairs and replacement to the same or equivalent service standard of all faulty components.

Example: All our products are fully guaranteed, this is the motto of our factory.

Goods:

A concrete product as opposed to a virtual or intellectual product.

Example: Fruit is a category of perishable goods.

Market:

Real or potential customers for a specific product.

Example: Smartphone sales are a thriving market.

Marketing plan:

The set of strategies to sell a product.

Example: The product is ready to be released, we should work on the marketing plan.

Non-profit marketing:

The use of marketing strategies by a charity organisation for instance, not to seek personal profit but to promote the organisation, and to collect donations.

Example: Non-profit marketing is often used to promote associations or charities.

Product:

All things that can be processed, then traded or sold.

Example: This lecture is the product of my work.

Product life cycle:

Like human life, the product follows the same cycle from birth to death. That is opening, growth, maturity and decline.

Example: A pair of sandals’ life cycle is three months if we refer to mine!

Product positioning:

The consumer’s perception of the product, including its price, characteristics and brand image.

Example: Thanks to our marketing efforts, the positioning of our footwear has improved.

Quality control:

It checks that the products or services sold by the company comply with the market’s requirements, the customer’s request, the legislation, and the company’s specifications.

Example: This product has successfully been quality controlled and is ready for sale!

Quantity discount:

A price reduction on the purchase of a large quantity of products. Sellers often do this as an incentive for customers to buy larger quantities.

Example: Large households often buy in quantity discounts. It’s more affordable as it’s cheaper.

Range:

The maximum distance a consumer is usually likely to cover to purchase a good or service. It defines the outer limit of a shop’s customer base.

Example: Our regular superstore is (name) as it’s within our range.

Store layout:

It’s the first visual communication channel of your shop, the way the space is structured, the layout of the products, that customers can easily find what they want. All this will help to boost your sales.

Example: I like the store layout of (name’s store), I never get lost.

Target market:

The customer segment that a shop targets from among the potential customers in a given area to achieve its profit objectives.

Example: A supermarket is being built in the (name’s) area. The population of the neighbouring town is their target market.

Variety:

The categorisation of the range of goods sold in a shop.

Example: The ability to have a variety of products is a key to optimising sales.

Terms and Sentences from the Business World You Could Use

‘Cutting corners is not a good strategy to get a company out of trouble.’

Meaning: making budget cuts will handicap the firm more than anything else

‘This project is ill-conceived, we must go back to the drawing board.’

Meaning: working hastily leads to mistakes and to starting again from the beginning.

‘We’ve never had so many clients, I guess we have to call it a day.’

Meaning: it’s a special day because we had our maximum number of customers.

‘You say you have workflow issues but I don’t see so many customers today.’

Meaning: why do you complain, you are not in a workload condition.

‘You should touch base with the manager of this shop to promote your product.’

Meaning: why don’t you talk even briefly to the manager…

‘I’m still the boss, keep me in the loop!’

Meaning: you must keep your boss informed of the development of projects.

Famous Quotes From Some of the Most Influential People

From Steve Jobs to F. Roosvelt, discover the top saying to use in society:

‘Only those who are crazy enough to think they can change the world succeed’

– Steve Jobs.

‘Entrepreneurs usually fail 3.8 times before they succeed. What separates the successful from the unsuccessful is their endurance.’

– Lisa M. Amos.

‘There is something worse in life than not encountering success, it’s not having tried.’

– Roosevelt.

Tips for Learning Vocabulary Efficiently

Here is a list of methods for learning vocabulary:

Tip #1

Looking at vocabulary cards for example on the internet.

Tip #2

Reading a book in English, having a small notebook next to you to write down words you don’t understand and look them up in the dictionary.

Tip #3

Looking up the lyrics of your favourite songs in English.

Tip #4

Watching series or films in English with subtitles in your native language.

Tip #5

Having an English-speaking pen pal or friend.

Tip #6

Travel to English-speaking countries frequently.

Tip #7

Listening to radio from an English-speaking country regularly.

Tip #8

Practicing as much as possible and speaking in English whenever you have the opportunity.

Start Learning Vocabulary Online With GlobalExam

By completing this exercise, you have today ‘added a card to your deck’, so to speak. With GlobalExam, you have ‘all the cards in hand’ to succeed in your vocabulary learning. We promise you much more, just click on the links to our vocabulary cards.