sgh unit 7

to abhor sb/sth (behaviour)

brzydzić się kimś (zachowanie)

overblown, inflated, porspous

nadmuchany, napompowany, porowaty

to usher in

rozpocząć

coinedin a world of business

ukuty w świecie biznesu

service-based economy

gospodarka usługowa

ever-presenthazard

zawsze obecne zagrożenie

detrimental

szkodliwy

overheads

koszty ogólne

trimmed

przycięte

incentive

zachęta

prompt

natychmiastowy, na czas, punktualny

flattening

spłaszczenie

severance

odcięcie

disruption-free

wolne od zakłóceń

counterbalance

przeciwwaga

commence

rozpoczynać

marketing mix

a combination of factors that can be controlled by a company to influence consumers to purchase its products.

competitive advantage

Competitive advantage is the leverage a company has over its competitors. It can be obtained by offering better and greater value to customers. Advertising products or services with lower prices or higher quality sparks consumer interest.

Trademark

a symbol, word, or words legally registered or established by use as representing a company or product.

brand loyalty

the tendency of some consumers to continue buying the same brand of goods rather than competing brands.

brand awareness/brand recognition

Brand awareness is a marketing term that describes the degree to which consumers recognize a product based on its name. Creating brand awareness is a key step in promoting a new product or reviving an older brand.

brand preference

the degree of brand loyalty in which a customer prefers one brand over competitive offerings

product line

A product line is a group of related products sold under one brand name by the same company. Companies sell multiple product lines under different names in an effort to differentiate them from each other in order to increase consumer utility.

product mix/product range

Product mix refers to the complete set of products or services offered by a business. These products or services are usually grouped within product lines, representing the different types of products offered

Product Life Cycle

A product life cycle is the length of time from a product first being introduced to consumers until it is removed from the market. A product’s life cycle is usually broken down into four stages; introduction, growth, maturity, and decline.

cost-based pricing

Setting the price of goods or services based on cost. Under this method, we add a percentage of the total cost to the cost itself to arrive at the selling price of the product. We can also add an absolute amount to the cost.

breakeven analysis

Break-even analysis entails calculating and examining the margin of safety for an entity based on the revenues collected and associated costs. In other words, the analysis shows how many sales it takes to pay for the cost of doing business.

breakeven point

is when a company's revenues and expenses were equal during a certain period. BEP can also refer to the revenue that must be generated to offset the expenses incurred during a given period.

Markup

the amount added to the cost price of goods to cover overhead and profit:

Benchmarking

The process of measuring the performance of a company's products, services or processes against another company considered to be the best in the industry. The purpose of benchmarking is to identify internal opportunities for improvement.

market share

the portion of a market controlled by a particular company or product

Quantitative

Quantitative research, on the other hand, involves collecting facts and figures and often results in numerical, structured data. Think data you can put in a spreadsheet and analyze.

Qualitative

focuses on the human perspective and answers the question why. If you want to find out how people perceive their environment, why they hold certain beliefs, or how they understand their problems, you will conduct qualitative research.

focus group

involves gathering a group of people to answer questions in a moderated setting. The group is selected for predefined characteristics, and the questions are designed to test a topic of interest. Focus groups are a type of qualitative research.

profitability

Profitability is the ability of a company or business to generate revenue over and above its expenses. It is usually measured using ratios like gross profit margin, net profit margin EBITDA, etc

return on investment

is an efficiency measure used to evaluate the profitability of an investment or to compare the efficiency of several different investments. It attempts to directly measure the amount of return on a given investment, relative to the cost of the investment.

market leader

can be a product, brand, company, organization, group name that has the largest percentage share of the total sales revenue of a given market. The market leader dominates the market

prestige pricing

setting a high price to maintain the image of high quality and exclusivity of the product

subsidize

to give money to a person or an organization in order to pay part of the cost of something that they do or make:

Utilities

a company that provides a service such as an electricity or gas supply

Reverse Engineering

the act of copying the product of another company by looking carefully at how it is made

reverse engineer

examine the construction or composition of another manufacturer's product in order to create (a duplicate or similar product):

primary data

Primary data is freshly collected data that provides information about a specific problem. This data can be collected through techniques such as, interview, observation, mailing. counseling, etc.

Secondary Data

They are already processed and compiled with an assessment. They can be gathered from published reports, such as census reports, annual reports, financial evaluation reports and journals, as well as from unpublished sources.

offering

a product or service that is offered for sale

make a loss/profit

If the selling price is greater than the cost price, the difference between the selling price and the cost price is called profit. In the opposite situation, it is a loss.

differentiate products

The introduction of unique, distinctive features or characteristics into a product to provide a USP. Differentiation enables a company to achieve a competitive advantage over other companies offering similar product substitutes.

early adopters

a person who starts using a product or technology as soon as it becomes available.

withdraw from the market

means any measure aimed at preventing the distribution, display and offer of a product to the consumer

reach saturation

Saturation is the process or condition that occurs when the market is completely filled with products for the same age group, for example, so that no more can be added.

features

a typical quality or an important part of something

maximize revenue

Revenue maximization involves generating as much or as little sales as possible. This strategy differs from profit maximization because it does not necessarily lead to higher profits.

consumer needs

Consumer needs represent the factors that drive people to make purchasing decisions. Understanding and identifying customer needs will allow you to provide a product or service that people will actually find useful.

carry out a survey

przeprowadzić ankietę

USP (unique selling point)

A unique property of a product, service or branded item that is associated with a competitive advantage. A unique selling point can be product or service features, special technical characteristics, innovation, unique design, etc.

quotation

a formal statement setting out the estimated cost for a particular job or service:

estimate

an approximate calculation or judgment of the value, number, quantity, or extent of something:

requirement

something that you must do, or something you need

specification

an act of describing or identifying something precisely or of stating a precise requirement:

variable costs

a cost that changes according to how much of a product is being produced or used

R&D (research and development)

R&D (badania i rozwój)

research and development (R&D)

the part of a business that tries to find ways to improve existing products, and to develop new ones

sales drive

a special effort to sell more of a product or service, for example by increasing advertising

bring out a product

When a person or company brings out a new product, especially a new book or CD, they produce it and put it on sale.

to launch a product

A product launch refers to a business’s planned and coordinated effort to debut a new product to the market and make that product generally available for purchase.

take a product off the market

to stop from being sold

exorbitant prices

is much too large

inflated prices

are higher than they should be, or higher than people think is reasonable.

arrive at a price

agree on a price

to push up prices

a situation in which a company raises the price of products so that customers have to pay more

sluggish market

a situation where the market is stagnant

to break into the market

it is a situation in which the company tries to enter an already established market and start competing for customers

corner the market

dominate the market; to take over the market, To sell or produce something so successfully as to overshadow all others in the same field.

be forced out of the market

be withdrawn from the market

end-user

the person or organization that uses something rather than an organization that trades in it

value-for-money

Value for money (VFM) is not about achieving the lowest price. It is about achieving the optimum combination of whole life costs and quality.

benefits

advantages for the customer

brand names

A brand name or trade name is a name (usually a proper noun) applied by a manufacturer or organization to a particular product or service.

consumer tastes

are their preferences for the goods and services they want to buy.

gaps in the market

opportunity to produce and sell something that is not yet available. However, consumers would like to have it. In other words, it signifies a consumer need that supply has not yet met.

budget

The common usage of the word "budget" refers to a financial plan by an individual or an organization based on their projected income and expenses.

the (high, low, middle) end of the market

produkty z (...)półki

mass market

refers to the market for goods produced on a large scale for a significant number of consumers. differs from a niche market in that it focuses on consumers with no recognizable preferences or expectations in a large market segment.

built-in obsolescence

Planned obsolescence or built-in obsolescence in industrial design is a policy of planning or designing a product with a limited useful life, so it will become obsolete, that is, unfashionable or no longer functional after a certain period of time.

brand stretching

is when a well-known brand uses its name to move its products into a new industry or transform a product in a unique way.

brand insistence

Brand insistence is when a customer is completely loyal to a particular brand for a type of product.

brand

a name, symbol or design(or some combination) that inditifies a product