From surgeons to CEOs, we have had the pleasure of teaching students from many professional backgrounds in our CISL Intensive, Business, and Premier classes! Today on the CISL Blog we are looking at Marketing Vocabulary, which is something our business, advertising, and sales students need. As you can see, however, you don’t necessarily need to be a part of these industries to use this vocabulary: these words are commonly used when discussing companies. How many of these important words do you know?
English Marketing Vocabulary
“R & D”
This stands for “Research and Development,” which is the market research that a company does on a product (and the changes it makes to the product, based on this research) before it is introduced to the market.
Why do some people always buy one product? Some feel very strongly that Coke is better than Pepsi, or that, for example, Burger King is better than McDonald’s (to be honest, we Californians prefer In N Out!). Brand loyalty is a goal for many companies (and has been achieved by the ones previously mentioned). How many more companies with brand loyalty can you think of?
How well can you identify a company? Do you know its name by seeing just the logo? Companies with brand-name recognition are easily identified, usually by just their logo or slogan.
What products do you buy, and from which stores do you buy them? These are your buying habits. Knowing them helps companies to better understand customers.
This is the personal noun for the word COMPETITION. Who is your competition? Identify them, and you have found your competitor.
A consumer panel is a group of customers recruited to give feedback regarding advertising, products, etc. Most often, the people on the panel are specifically chosen for their background or experience with a product or market, so the results are very specific.
A trademark is a symbol or slogan legally registered to a company.
A win-win strategy
A situation in which either outcome will be beneficial uses a win-win strategy.
For more on Business English and Premier classes at CISL, click here.