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G l o s s a r y




Accounts Records of business dealings
Ad Short for advertisement
Advertisement A public notice or announcement in a newspaper or magazine, or over the radio, or television, which recommends a product, service, or company
Advertising agency A person or company that prepares and places advertisements in newspapers or magazines, or on radio or television
Agency / Agent / A person or company that is authorized to do something specific for someone else
Available stock Items ready to sell from inventory
Cash Money or something that equals money, such as a check, paid at the time of buying something
Cash on delivery / C.O.D Payment when goods are delivered
Catalog A booklet or book which lists products and gives a brief description of them, sometimes with pictures
Catalog sales Catalogs of products, which also contain prices, used by customers to send orders directly to the company
Chain store One of a group of retail stores owned and managed by the same person or company, carrying similar merchandise, and guided by the same policies
Channel of distribution - The way a product is sold to the customer who will use it
Client , A customer, a person or company that receives the services of a professional person or company; such as an advertising agency, an accountant, etc.
Commission The percentage of the charges for advertising space or air time which is paid to the advertising agency by the publication or broadcaster
Competitors Companies that make or sell products that do the same thing or that look alike
Customer A person or company that buys something
Direct selling Selling directly to customers by a company's salespeople
Discount Less than the regular price
Display To show something so it is easy to see
Distribution Sending or selling products or goods
Finished goods Manufactured products or parts which are complete and ready for sale or use
Finished-goods inventory Inventories of products that are ready to sell  
Goods Products
Image , What people think a company or product is
Industry Manufacturing business
Invoice - A bill or a list of goods sent to a purchaser showing prices, amounts, shipping charges, etc.
Item , Each separate thing that is part of a whole
Manufactured items/parts / Parts which a company makes in its own factory that are used in its own products
Manufacturer's representative , A person or company which sells products for a company without stocking them in warehouses; also called a sales representative or rep (The manufacturer's representative usually sells products of several different, no competing companies)
Manufacturing Making products from raw materials
Market The customers or prospects who will buy or use a product
Market feasibility study A study to find out whether people will buy and use a product, how many can be sold, how it should be packed, etc.
Market forecast A study to determine how much of product can be sold to customers and to prospects
Marketing Includes all the different things necessary to bring and sell a product to customers
Market research The study of what customers and prospects need or want from a company and its products
Materials Things, products and parts are made from the substance of anything manufactured or built
Merchandise Products or items that are for sale
Price What something costs or is sold for
Price list A printed list of products, telling how much each item costs
Product Something manufactured or made which is finished and ready to sell or use
Product description Words in advertising, literature, or catalogs which tell about a product
Product literature Printed sheets which tell about a company`s product
Profit The gain from a business, or the amount of money left when the cost of making a product is substracted from the money when it is sold
Raw materials Substances from which products or parts are made
Retailer A person or company which sells in small quantities directly to customers, usually in stores
Sales call A visit to a customer or prospect to try to sell a product
Sell To exchange an item product, or something for money or other payment
Services , Things people do to help someone or another company
Staff ( ) A group of people who work for a director, manager or other leader
Store , A place where goods from many different manufacturers are kept for sale directly to customers who buy small quantities
Warehouse A place where items are kept for delivery to customers
Wholesaler A person or company that buys large number or volumes of items and sells directly to customers who use smaller amounts of the items (The wholesaler sells larger numbers of items to each customer than a retailer does and usually has a warehouse).




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