Topic 10

Word

Definition

Example

rise

to increase

The cost of living is going to rise again this month.

increase

to (make something) become larger in amount or size

I need to increase my income.

decrease

to become less

I think mobile phone sales in Europe will decrease next year.

improve

to make something better, or to become better

You could use the money for improving your home.

fall

to suddenly go down onto the ground or towards the ground without intending to or by accident

Be careful - don't fall.

level off

to stop increasing or growing and become steady or continue at a fixed level

Lower mortgage rates should help the market to level off.

stabilize

to become firm, steady, or unchanging, or to make something do this

We want to stabilize consumerprices for sugar and sugar products.

peak

the time when prices, shares etc have reached their highest point or level

The company's share of overseas assets reached a peak two years ago.

constant

happening regularly or all the time

There was a constant stream of visitors to the house.

business objective

something that you are trying hard to achieve, especially in business or politics

In consequence we have developed restrictive practices and engineering, at best, are only partially aware of the business objectives.

sales objective

number of sales that a company is trying to achieve

Sales objectives have surpassed expectations.

maximize

to increase something such as profit or income as much as possible

The company's main function is to maximize profit.

grow

to increase in size or amount, or to become more advanced or developed

An economic boom is a time when a country's economy grows.

growth

an increase in the value of goods and services provided in a country or area

Analysts are predicting strong economic growth next year.

turnover

the rate at which employees leave a workforce and are replaced

High staff turnover left the program with too many young instructors.

expand

become or make larger or more extensive

After the lecture you may want to expand your notes.

new market

a market for bonds, shares etc when they are first sold, rather than when they are traded later

But such aid denies new market opportunities to competitive suppliers in lower-cost countries.

mission statement

a short written description of the aims of a business

We're still working on developing a mission statement for the organization.

predatory pricing

the practice of selling something for less than it costs to produce. This is often done to increase market share and to drive competitors out of the market

They argue that the 10% discount on long-distance calls amounts to predatory pricing against other telecommunications companies.

price cutting

when sellers reduce prices, usually several times over a relatively short period of time

The drawback to price cutting is that competitors are likely to cut prices too.

price war

a situation in which several companies reduce the prices of what they sell, because they are all trying to get the most customers

Jenny Craig and Weight Watchers will have a price war.

price fixing

when companies in an industry agree on the prices they will charge for something. This form of price-fixing is done so that companies avoid competing with each other, and is normally illegal

The EU investigated international telephone agreements to see if there was price fixing in violation of EU competition rules.

price discriminate

the practice of charging different prices for the same product in different markets

Peak load pricing is a system of price discrimination whereby peak time users pay higher prices.

undercut

to sell goods or services more cheaply than another company

Our competitors have been undercutting our prices.

cartel

a group of companies who agree to set the price of something they produce at a fixed level in order to limit competition and increase their own profits

The oil cartel, OPEC, has just had its first major success in forcing up oil prices.

restrictive

Confining, limiting, containing with in defined bounds

TV cannot be niche, it's mass and can be restrictive when it comes to stories.

loss leader

a product that is sold at a loss to encourage people to buy other more profitable products

Supermarkets sometimes sell bread as a loss leader to bring customers into the store.

collude

to work with someone secretly, especially in order to do something dishonest or illegal

Several customs officials have been accused of colluding with drug traffickers.

relocate

move to a new place and establish one's home or business there

A lot of firms are relocating to the North of England.

low-cost centre

is a country or region where business costs are lower

In low-cost centres, higher incomes and better working conditions are often realized.

low-wage centre

is a country or region where labour is cheap

This country isno longer a low-wage centre.

enterprise zone

an area in which state incentives such as tax concessions are offered to encourage business investment

The implementation of enterprise zones in communities with high unemployment.

greenfield site

a site used for building where there has never been building or industrial activity in the past

As the space requirements of companies changed, they sought more open greenfield sites away from the cities.

brownfield site

a site used for building where there has already been building, industrial activity etc, especially in a town or city

The government wants to raise the proportion of housing built on brownfield sites, rather than on unspoilt countryside.

manufacturing base

all the factories or companies producing goods in a country or area, especially when considered in relation to the economy as a whole

The country needs a strong manufacturing base.

drift

to go slowly up or down in value, without any particular direction

London shares drifted in the absence of a statement from the Treasury.

reposition

if a company repositions a brand, product etc, it tries to get people to think about it in a new and different way in relation to the company's other products and to competing products

It tried to reposition its product as a sports drink rather than an ordinary soft drink.

rebrand

if a company rebrands a product or service, it tries to change the way that people think about it, often by changing its name or the way it is advertised

The merged company would probably rebrand its gas stations.

re-evaluate

evaluate again or differently

Fifteen patients were re-evaluated after six months.

public image

the public image of a famous person or organization is the character or attitudes that most people think they have

There are some attempts to improve the public image of the police.

facelift

if a company gives one of its products or services a facelift, it improves it and makes it more attractive

Nissan's six-year old supermini is due for a facelift next year.

rejuvenate

to make a company, product, market etc successful again, for example by changing it or by introducing something new

He has shown an ability to rejuvenate ailing companies.

upmarket

relatively expensive and designed to appeal to affluent consumers

It's an upmarket ski resort.

downmarket

involving goods and services that are cheap and not very good quality compared to similar goods or

The mail order business has never been able to break away from its traditional downmarket image.

flagship brand

the main product/service in the company's portfolio and to which the customer most relates or identifies the company

Pepsi is one of the flagship brands of the company.