{"id":63698,"date":"2021-09-16T14:33:08","date_gmt":"2021-09-16T12:33:08","guid":{"rendered":"https:\/\/global-exam.com\/blog\/?p=63698"},"modified":"2021-10-20T15:25:14","modified_gmt":"2021-10-20T13:25:14","slug":"english-vocabulary-product-vocabulary-useful-terms-to-learn-for-a-company","status":"publish","type":"post","link":"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-product-vocabulary-useful-terms-to-learn-for-a-company\/","title":{"rendered":"Product Vocabulary: Useful Terms To Learn For A Company"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:#eae9e9;border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1456px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-1\"><p><a id=\"post-63698-_i2rzwej7d6bn\"><\/a>So many of you may be looking for topics on <strong>production management<\/strong>. This vocabulary sheet will talk about that as well as the following points:<\/p>\n<ul>\n<li>List of business words, their meaning and some examples.<\/li>\n<li>Tips for learning <strong>vocabulary<\/strong> efficiently.<\/li>\n<\/ul>\n<p>Read on to find out and<a href=\"https:\/\/global-exam.com\/en\/general\/english\"> start learning English at your own pace!<\/a><\/p>\n<\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-0{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-0 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-0{width:100% !important;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-0{width:100% !important;}.fusion-builder-column-0 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-1{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:#eae9e9;border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1456px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div style=\"text-align:center;\"><style type=\"text\/css\">.fusion-button.button-1 {border-radius:25px;}.fusion-button.button-1 .fusion-button-text {text-transform:none;}<\/style><a class=\"fusion-button button-flat button-large button-default button-1 fusion-button-span-no fusion-button-default-type\" target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/auth.global-exam.com\/register\"><span class=\"fusion-button-text\">Test My Level For Free<\/span><\/a><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-1{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-1 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-1{width:100% !important;order : 0;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-1{width:100% !important;order : 0;}.fusion-builder-column-1 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-2{ padding-top : 0px;margin-top : 30px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 30px;padding-left : 0px;}<\/style><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-3 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"background-color: rgba(255,255,255,0);background-position: center center;background-repeat: no-repeat;border-width: 0px 0px 0px 0px;border-color:#eae9e9;border-style:solid;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start\" style=\"max-width:1456px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-flex-column\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\" style=\"background-position:left top;background-repeat:no-repeat;-webkit-background-size:cover;-moz-background-size:cover;-o-background-size:cover;background-size:cover;padding: 0px 0px 0px 0px;\"><div class=\"fusion-text fusion-text-2\"><p>Wether you wish to take the<a href=\"https:\/\/global-exam.com\/en\/exam\/ielts\">\u00a0IELTS<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/toeic\">TOEIC<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/toefl-ibt\">TOEFL<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/c1-advanced\">CAE<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/cambridge-fce\">FCE<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/toeic-bridge\">BRIDGE<\/a>,\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/bulats\">BULATS (Linguaskill)<\/a>\u00a0or even\u00a0<a href=\"https:\/\/global-exam.com\/en\/exam\/bright-english\">BRIGHT ENGLISH ,<\/a>\u00a0you need to enhance your\u00a0<a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-list-all-the-essential-words-you-need-to-know\/\">English vocabulary<\/a>\u00a0in order to prepare for your test. We have have made a long list of vocabulary worksheets:<\/p>\n<ul>\n<li class=\"entry-title fusion-responsive-typography-calculated\" data-fontsize=\"45\" data-lineheight=\"56.25px\"><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-anthropology-vocabulary-definition-of-words-and-concepts\/\">Anthropology Vocabulary<\/a><\/li>\n<li class=\"entry-title fusion-responsive-typography-calculated\" data-fontsize=\"45\" data-lineheight=\"56.25px\"><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-chemistry-vocabulary-essential-list-of-words-and-phrases\/\">Chemistry Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-stock-market-vocabulary-top-100-words-you-need-to-know\/\">Stock Market Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-real-estate-vocabulary-glossary-for-accomodation-terms\/\">Real Estate Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-purchase-vocabulary-glossary-of-common-words-and-phrases\/\">Purchase Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-research-vocabulary-list-of-words-terms-and-concepts\/\">Research Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-phone-vocabulary-common-words-and-phrases-to-use-daily\/\">Phone Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-payment-vocabulary-learn-the-related-terms-and-methods\/\">Payment Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-office-supplies-vocabulary-list-of-stationery-items-to-know\/\">Office Supplies Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-management-vocabulary-top-words-to-improve-your-skills\/\">Management Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-law-vocabulary-the-a-to-z-guide-to-legal-terms-worksheet\/\">Law Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-human-resources-vocabulary-learn-basic-phrases-and-terms\/\">Human Resources Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-factory-vocabulary-top-words-for-industrial-production\/\">The Factory Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-list-bank-and-finance-useful-terms-to-learn\/\">Vocabulary List: Bank and Finance<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-computer-vocabulary-lists-of-basics-words-you-should-know\/\">Computer Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-marketing-vocabulary-list-of-essential-words-and-terms\/\">Marketing Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-social-media-vocabulary-list-of-definitions-to-know\/\">Social Media Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-meteorology-vocabulary-list-of-words-related-to-climate\/\">Meteorology Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-culture-vocabulary-list-most-common-words-and-phrases\/\">Culture Vocabulary List<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-architecture-vocabulary-list-top-100-common-words-used\/\">Architecture Vocabulary<\/a><\/li>\n<li><a href=\"https:\/\/global-exam.com\/blog\/en\/english-vocabulary-sociology-vocabulary-top-100-glossary-of-terms-to-know\/\">Sociology Vocabulary<\/a><\/li>\n<\/ul>\n<h2>Vocabulary List of Useful Business-Related Terms<\/h2>\n<p>Let&rsquo;s go over some essential business words.<\/p>\n<p><img class=\"aligncenter wp-image-65446\" src=\"https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160.jpg\" alt=\"man closing a box with tape\" width=\"700\" height=\"252\" srcset=\"https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160-200x72.jpg 200w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160-300x108.jpg 300w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160-400x144.jpg 400w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160-600x216.jpg 600w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160-768x276.jpg 768w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160-800x288.jpg 800w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160-1024x368.jpg 1024w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160-1200x431.jpg 1200w, https:\/\/global-exam.com\/blog\/wp-content\/uploads\/2021\/09\/product-vocabulary-e1633355490160.jpg 1280w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<h3><span style=\"text-decoration: underline;\">Aging of a product:<\/span><\/h3>\n<p>The length of time the product has been <strong>kept in storage<\/strong>, which can affect its quality and value.<\/p>\n<blockquote>\n<p><em>Example: These computers must be sold quickly, they\u2019re aging.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Aseptic packaging:<\/span><\/h3>\n<p>Product conditioning by <strong>sterilising<\/strong> and by leak proof <strong>sealing<\/strong> of packages.<\/p>\n<blockquote>\n<p><em>Example: These vegetables will be shipped far, they need aseptic packaging.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Audit of a product:<\/span><\/h3>\n<p>To <strong>assess<\/strong> the adequacy and safety of a manufactured product for use by consumers.<\/p>\n<blockquote>\n<p><em>Example: This toy should be audited, checked for compliance with relevant standards, and without any manufacturing or design defect.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Barcode:<\/span><\/h3>\n<p>Fine <strong>stripes<\/strong> printed on the packaging to identify a product by scanning.<\/p>\n<blockquote>\n<p><em>Example: Nowadays, a simple scanning of the barcode is all it takes to pay for a product.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Bargain:<\/span><\/h3>\n<p><strong>Advantageous<\/strong> purchase\/acquisition of an article.<\/p>\n<blockquote>\n<p><em>Example: During the summer sales, I got some great bargains.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Bonus:<\/span><\/h3>\n<p>A one-off and usually temporary <strong>incentive<\/strong> to increase sales of the product involved.<\/p>\n<blockquote>\n<p><em>Example: By purchasing this fridge, you will get an iron as an included bonus.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Brand:<\/span><\/h3>\n<p>A design with or without a name <strong>to identify and customise<\/strong> a company.<\/p>\n<blockquote>\n<p><em>Example: Cartier is a worldwide famous brand.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Brand image:<\/span><\/h3>\n<p>The <strong>perception<\/strong> and the <strong>reputation<\/strong> of an entity, more often of a company.<\/p>\n<blockquote>\n<p><em>Example: To boost sales, the brand has thoroughly revamped its image.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Clustering:<\/span><\/h3>\n<p><strong>Grouping<\/strong> of products from different sources to reduce costs by transporting them together to the point of delivery.<\/p>\n<blockquote>\n<p><em>Example: We should use more clustering products, it would save us extra costs.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Co-branding:<\/span><\/h3>\n<p>This refers to the <strong>linking or partnering<\/strong> of two or more brands.<\/p>\n<blockquote>\n<p><em>Example: In times of crisis, co-branding is widespread.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Consumer:<\/span><\/h3>\n<p>The last chain of a product, <strong>the ones<\/strong> that choose and buy it.<\/p>\n<blockquote>\n<p><em>Example: Grow more melons, the consumers crave them.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Cost:<\/span><\/h3>\n<p>It\u2019s the <strong>sum of the expenses<\/strong> incurred by an industry for the production and distribution of a good or service. Or it could be the <strong>price<\/strong> of a product for the consumer.<\/p>\n<blockquote>\n<p><em>Example: This sofa had a high cost, it should be amortised.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Churn rate:<\/span><\/h3>\n<p>The ratio of individuals who don\u2019t <strong>complete<\/strong> a purchase, a registration procedure or a survey, compared to the total number of individuals who have started the process.<\/p>\n<blockquote>\n<p><em>Exemple: The churn rate of our product has increased by six per cent this year.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Demand:<\/span><\/h3>\n<p>It\u2019s the quantity of a product <strong>requested<\/strong> by buyers for a given price. Usually, as the price increases, the quantity offered increases and the \u2018demand\u2019 decreases.<\/p>\n<blockquote>\n<p><em>Exemple: Product sales are based on the law of supply and demand.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Direct marketing:<\/span><\/h3>\n<p>All customised or tailored <strong>campaigns<\/strong> intended to get a more or less instant reaction from the customer (order, requests for a quote, toll-free call, making an appointment\u2026).<\/p>\n<blockquote>\n<p><em>Example: Has the secretary updated the customer file for direct marketing.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Display:<\/span><\/h3>\n<p><strong>Presentation<\/strong> of goods at a specific location for a limited period of time. They are usually exhibited on a stand.<\/p>\n<blockquote>\n<p><em>Example: Would you please prepare the goods for our annual display?<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Distribution:<\/span><\/h3>\n<p>The whole process of <strong>delivering<\/strong> a product to the final consumer, be it a private individual or a company.<\/p>\n<blockquote>\n<p><em>Exemple: The distribution of these goods must work perfectly to avoid waste.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Eco-friendly:<\/span><\/h3>\n<p>It\u2019s a product that has<strong> minimal impact<\/strong> on the environment throughout its life cycle.<\/p>\n<blockquote>\n<p><em>Example: It\u2019s a matter of emergency to use eco-friendly products, let\u2019s shop locally.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Eighty-twenty principles:<\/span><\/h3>\n<p>According to the famous Pareto\u2019s Law, <strong>80% of the results<\/strong> are the consequences of <strong>20% of the actions<\/strong> in a repetitive pattern or, seen in a different way, 20% of the causes produce 80% of the effects.<\/p>\n<blockquote>\n<p><em>Example: 80% of the rain is produced by less than 20% of the clouds.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Erratic demand:<\/span><\/h3>\n<p>A pattern of consumers requests for a good that is versatile and <strong>non-predictable<\/strong>.<\/p>\n<blockquote>\n<p><em>Exemple: We need to apply discounts to encourage consumers to extend their purchases on the erratic demand products.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Express warranty:<\/span><\/h3>\n<p>Any oral or written <strong>statement<\/strong> made by a seller or shop assistant about the quality, condition, quantity or function of a product.<\/p>\n<blockquote>\n<p><em>Example: The seller has given us the assurance that these glasses are shatter-proof. It\u2019s an express warranty.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Feature:<\/span><\/h3>\n<p>The use of any <strong>advertising method<\/strong> to focus consumers\u2019 attention on a specific product for a short period of time.<\/p>\n<blockquote>\n<p><em>Example: Featured products are often on the landing page of a sales platform.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Full warranty:<\/span><\/h3>\n<p>It covers <strong>repairs and replacement<\/strong> to the same or equivalent service standard of all faulty components.<\/p>\n<blockquote>\n<p><em>Example: All our products are fully guaranteed, this is the motto of our factory.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Goods:<\/span><\/h3>\n<p>A <strong>concrete<\/strong> product as opposed to a virtual or intellectual product.<\/p>\n<blockquote>\n<p><em>Example: Fruit is a category of perishable goods.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Market:<\/span><\/h3>\n<p>Real or potential <strong>customers<\/strong> for a specific product.<\/p>\n<blockquote>\n<p><em>Example: Smartphone sales are a thriving market.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Marketing plan:<\/span><\/h3>\n<p>The set of <strong>strategies<\/strong> to sell a product.<\/p>\n<blockquote>\n<p><em>Example: The product is ready to be released, we should work on the marketing plan.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Non-profit marketing:<\/span><\/h3>\n<p>The use of marketing strategies by a charity organisation for instance, not to seek personal profit but to <strong>promote<\/strong> the organisation, and to collect<strong> donations<\/strong>.<\/p>\n<blockquote>\n<p><em>Example: Non-profit marketing is often used to promote associations or charities.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Product:<\/span><\/h3>\n<p>All <strong>things <\/strong>that can be processed, then traded or sold.<\/p>\n<blockquote>\n<p><em>Example: This lecture is the product of my work.<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Product life cycle:<\/span><\/h3>\n<p>Like human life, the product follows the same cycle from <strong>birth to death<\/strong>. That is opening, growth, maturity and decline.<\/p>\n<blockquote>\n<p><em>Example: A pair of sandals&rsquo; life cycle is three months if we refer to mine!<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Product positioning:<\/span><\/h3>\n<p>The consumer\u2019s <strong>perception<\/strong> of the product, including its price, characteristics and brand image.<\/p>\n<blockquote>\n<p><em>Example: Thanks to our marketing efforts, the positioning of our footwear has improved.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Quality control:<\/span><\/h3>\n<p>It <strong>checks <\/strong>that the products or services sold by the company <strong>comply with<\/strong> the market\u2019s requirements, the customer\u2019s request, the legislation, and the company\u2019s specifications.<\/p>\n<blockquote>\n<p><em>Example: This product has successfully been quality controlled and is ready for sale!<\/em><\/p>\n<\/blockquote>\n<h3><span style=\"text-decoration: underline;\">Quantity discount:<\/span><\/h3>\n<p>A price reduction on the purchase of a <strong>large quantity<\/strong> of products. Sellers often do this as an incentive for customers to buy larger quantities.<\/p>\n<blockquote>\n<p><em>Example: Large households often buy in quantity discounts. It\u2019s more affordable as it\u2019s cheaper.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Range:<\/span><\/h3>\n<p>The <strong>maximum distance<\/strong> a consumer is usually likely to cover to purchase a good or service. It defines the outer limit of a shop&rsquo;s customer base.<\/p>\n<blockquote>\n<p><em>Example: Our regular superstore is (name) as it\u2019s within our range.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Store layout:<\/span><\/h3>\n<p>It\u2019s the first visual communication <strong>channel<\/strong> 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.<\/p>\n<blockquote>\n<p><em>Example: I like the store layout of (name\u2019s store), I never get lost.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Target market:<\/span><\/h3>\n<p>The customer <strong>segment<\/strong> that a shop targets from among the potential customers in a given area to achieve its profit objectives.<\/p>\n<blockquote>\n<p><em>Example: A supermarket is being built in the (name\u2019s) area. The population of the neighbouring town is their target market.<\/em><\/p>\n<\/blockquote>\n<hr \/>\n<h3><span style=\"text-decoration: underline;\">Variety:<\/span><\/h3>\n<p>The <strong>categorisation<\/strong> of the range of goods sold in a shop.<\/p>\n<blockquote>\n<p><em>Example: The ability to have a variety of products is a key to optimising sales.<\/em><\/p>\n<\/blockquote>\n<h2><a id=\"post-63698-_k0rlhgwjisme\"><\/a>Terms and Sentences from the Business World You Could Use<\/h2>\n<blockquote>\n<p><em>\u2018<\/em><strong><em>Cutting corners<\/em><\/strong><em> is not a good strategy to get a company out of trouble.\u2019 <\/em><\/p>\n<\/blockquote>\n<p><strong>Meaning:<\/strong> making budget cuts will handicap the firm more than anything else<\/p>\n<blockquote>\n<p><em>\u2018This project is ill-conceived, we must <\/em><strong><em>go back to the drawing board<\/em><\/strong><em>.\u2019 <\/em><\/p>\n<\/blockquote>\n<p><strong>Meaning:<\/strong> working hastily leads to mistakes and to starting again from the beginning.<\/p>\n<blockquote>\n<p><em>&lsquo;We&rsquo;ve never had so many clients, I guess we have to <\/em><strong><em>call it a day<\/em><\/strong><em>.\u2019<\/em><\/p>\n<\/blockquote>\n<p><strong>Meaning:<\/strong> it\u2019s a special day because we had our maximum number of customers.<\/p>\n<blockquote>\n<p><em>\u2018You say you have <\/em><strong><em>workflow<\/em><\/strong><em> issues but I don&rsquo;t see so many customers today.\u2019<\/em><\/p>\n<\/blockquote>\n<p><strong>Meaning:<\/strong> why do you complain, you are not in a workload condition.<\/p>\n<blockquote>\n<p><em>\u2018You should<\/em><strong><em> touch base <\/em><\/strong><em>with the manager of this shop to promote your product.<\/em>\u2019<\/p>\n<\/blockquote>\n<p><strong>Meaning:<\/strong> why don\u2019t you talk even briefly to the manager&#8230;<\/p>\n<blockquote>\n<p><em>\u2018I\u2019m still the boss, <\/em><strong><em>keep me in the loop<\/em><\/strong><em>!\u2019<\/em><\/p>\n<\/blockquote>\n<p><strong>Meaning:<\/strong> you must keep your boss informed of the development of projects.<\/p>\n<h2><a id=\"post-63698-_bgh47y4ubxsg\"><\/a>Famous Quotes From Some of the Most Influential People<\/h2>\n<p>From Steve Jobs to F. Roosvelt, discover the top saying to use in society:<\/p>\n<blockquote>\n<p><em>\u2018Only those who are <\/em><strong><em>crazy enough<\/em><\/strong><em> to think they can change the world succeed\u2019 <\/em><\/p>\n<\/blockquote>\n<p><em>&#8211; Steve Jobs.<\/em><\/p>\n<blockquote>\n<p><em>\u2018Entrepreneurs usually <\/em><strong><em>fail<\/em><\/strong><em> 3.8 times before they succeed. What separates the successful from the unsuccessful is their endurance.\u2019 <\/em><\/p>\n<\/blockquote>\n<p><em>&#8211; Lisa M. Amos.<\/em><\/p>\n<blockquote>\n<p><em>\u2018There is something worse in life than not encountering success, it&rsquo;s not having <\/em><strong><em>tried<\/em><\/strong><em>.\u2019 <\/em><\/p>\n<\/blockquote>\n<p><em>&#8211; Roosevelt.<\/em><\/p>\n<h2><a id=\"post-63698-_g3xfadens8yt\"><\/a>Tips for Learning Vocabulary Efficiently<\/h2>\n<p>Here is a list of methods for <strong>learning vocabulary<\/strong>:<\/p>\n<h3>Tip #1<\/h3>\n<p>Looking at vocabulary cards for example on the internet.<\/p>\n<h3>Tip #2<\/h3>\n<p>Reading a book in English, having a small notebook next to you to write down words you don\u2019t understand and look them up in the dictionary.<\/p>\n<h3>Tip #3<\/h3>\n<p>Looking up the lyrics of your favourite songs in English.<\/p>\n<h3>Tip #4<\/h3>\n<p>Watching series or films in English with subtitles in your native language.<\/p>\n<h3>Tip #5<\/h3>\n<p>Having an English-speaking pen pal or friend.<\/p>\n<h3>Tip #6<\/h3>\n<p>Travel to English-speaking countries frequently.<\/p>\n<h3>Tip #7<\/h3>\n<p>Listening to radio from an English-speaking country regularly.<\/p>\n<h3>Tip #8<\/h3>\n<p>Practicing as much as possible and speaking in English whenever you have the opportunity.<\/p>\n<h2>Start Learning Vocabulary Online With GlobalExam<\/h2>\n<p><a id=\"post-63698-_jtrio0mzxhr7\"><\/a> By completing this exercise, you have today \u2018added a card to your deck\u2019, so to speak. With <strong>GlobalExam<\/strong>, you have \u2018all the cards in hand\u2019 to succeed in your <strong>vocabulary<\/strong> learning. We promise you much more, just click on the links to our vocabulary cards.<\/p>\n<\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-builder-column-2{width:100% !important;margin-top : 0px;margin-bottom : 0px;}.fusion-builder-column-2 > .fusion-column-wrapper {padding-top : 0px !important;padding-right : 0px !important;margin-right : 1.92%;padding-bottom : 0px !important;padding-left : 0px !important;margin-left : 1.92%;}@media only screen and (max-width:1024px) {.fusion-body .fusion-builder-column-2{width:100% !important;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}@media only screen and (max-width:640px) {.fusion-body .fusion-builder-column-2{width:100% !important;}.fusion-builder-column-2 > .fusion-column-wrapper {margin-right : 1.92%;margin-left : 1.92%;}}<\/style><\/div><\/div><style type=\"text\/css\">.fusion-body .fusion-flex-container.fusion-builder-row-3{ padding-top : 0px;margin-top : 0px;padding-right : 0px;padding-bottom : 0px;margin-bottom : 0px;padding-left : 0px;}<\/style><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":24,"featured_media":65445,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1736,2032,5579,2113,2148,2166,2198],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.2.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Product Vocabulary: Useful Terms To Learn For A Company - GlobalExam Blog<\/title>\n<meta name=\"description\" content=\"You\u2019ve learned lots of vocabulary and expressions about product and marketing. 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