商务英语相关概念解释.docx

1、商务英语相关概念解释2012Test form of the final ExamJune 20/27Part I: Small Questions (3 minutes)Personal Description: Yourself, your strengths, weaknesses, proud/disappointing momentsYour familyYour hometown, school lifeYour majorTravelling experience (transportation, hotel facilities)Training course: expecta

2、tion, advantage, disadvantages Future: job, career, preparationsHow do you spend money? Your attitude towards money?How do you usually spend your time? Whats your attitude towards time?Eating habitsHoliday: place, people, thingsAn unforgettable person in my lifeMy favorite bookMy Favorite MoviePart

3、II: Explanation (4 minutes)Explain a business concept and give examples if you can. Customer service Before customers buy something, the sellers provide the consulting service; when customers buy something, they provide the marketing service; after emption, sellers provide the after-sale service. We

4、ll-trained salespeople, good attitudes, good communication, good quality lead to good customer service.Customer loyalty Quality of product or service leads to customer satisfaction, which leads to customer loyalty, which leads to profitability. So customer loyalty is that customers think the quality

5、 of product is good so that they always buy the same product or products of the same brand. And it can bring sellers profits.CRM(客户关系管理)Customer Relationship Management. It refers to that enterprises communicate with customers and understand their behaviors and then by marketing influence their beha

6、viors. Finally, the enterprise satisfies the customers and detains them; customers are loyal and both sides can get benefits. Customer relationship management (CRM) is a widely implemented model for managing a companys interactions with customers, clients, and sales prospects. It involves using tech

7、nology to organize, automate, and synchronize business processesprincipally sales activities, but also those for marketing, customer service, and technical support. Customer surveySellers want to know what customers need and if they are satisfied with their service so they do a survey. This is custo

8、mer survey.Three levels of productThe three levels of product are core product, actual product, and augmented product. Core product is most directly related to companys core competencies. Actual product is the product with quality, color and so on. Augmented product includes customer care, service,

9、finance, delivery and so on.Consumer productConvenience products, shopping products, specialty products, unsought products are consumer products. People buy convenience products frequently and immediately because theyre low priced and have many purchase locations. They include staple goods, impulse

10、goods, and emergency goods. People always compare suitability, quality, price, style then buy something. Its shopping products. So shopping products communicate product information. They have fewer purchase location and people buy them less frequently.Specialty products have special purchase efforts

11、 and unique characteristics.Unsought products are products that consumers dont want to think about and they require much advertising and personal selling.Brand loyalty(品牌忠诚)Brand loyalty refers to that products of a brand have good quality and they have some special characteristics and the brand can

12、 keep up with the times and meet peoples need. So people choose this brand and are loyal to it.Brand stretch（brand extension）品牌延伸Brand stretch is a strategy for a brand to exist. If a brand want to exist it can develop multi-brands or a new brand like P&G. P&G has many sub brands. If people dont lik

13、e this brand they can choose another one. But all belongs to P&G.Brand dilution Originally the brand image is clear in consumers mind but as the time goes by it is foggy. The wrong marketing strategy like brand extension or external marketing environment can cause brand dilution. Take an example. Th

14、e American parker pen was considered as deluxe and superior. But since the brand expands to products of three dollars, its deluxe brand image is weakened.Industrial productIndustrial productionis a measure of output of theindustrial sectorof the economy. The industrial sector includesmanufacturing,m

15、ining, andutilities. Although these sectors contribute only a small portion of GDP (Gross Domestic Product), they are highly sensitive tointerest ratesandconsumer demand.This makes Industrial Production an important tool forforecastingfuture GDP and economic performance. Industrial Production figure

16、s are also used by central banks to measure inflation, as high levels of industrial production can lead to uncontrolled levels of consumption and rapidinflation.Product life cycleProduct life-cycle (PLC)Like human beings, products also have an arc. From birth to death, human beings pass through vari

17、ous stages e.g. birth, growth, maturity, decline and death. A similar life-cycle is seen in the case of products. The product life cycle goes through multiple phases, involves many professional disciplines, and requires many skills, tools and processes. Product life cycle (PLC) has to do with the li

18、fe of a product in the market with respect to business/commercial costs and sales measures. To say that a product has a life cycle is to assert three things: Products have a limited life, and thus every product has life cycle Product sales pass through distinct stages, each posing different challeng

19、es, opportunities, and problems to the seller, Products require different marketing, financing, manufacturing, purchasing, and human resource strategies in each life cycle stage.The four main stages of a products life cycle and the accompanying characteristics are:StageCharacteristics1.Market introd

20、uction stage1. costs are very high2. slow sales volumes to start3. little or no competition4. demand has to be created5. customers have to be prompted to try the product6. makes no money at this stage2.Growth stage1. costs reduced due to economies of scale2. sales volume increases significantly3. pr

21、ofitability begins to rise4. public awareness increases5. competition begins to increase with a few new players in establishing market6. increased competition leads to price decreases3.Maturity stage1. costs are lowered as a result of production volumes increasing and experience curve effects2. sale

22、s volume peaks and market saturation is reached3. increase in competitors entering the market4. prices tend to drop due to the proliferation of competing products5. brand differentiation and feature diversification is emphasized to maintain or increase market share6. Industrial profits go down4.Satu

23、ration and decline stage1. costs become counter-optimal2. sales volume decline3. prices, profitability diminish4. profit becomes more a challenge of production/distribution efficiency than increased salesDumpingIn economics, dumping is a kind ofpredatory pricing, especially in the context ofinternat

24、ional trade. It occurs when manufacturers export a product to another country at a price either below the price charged in its home market, or in quantities that cannot be explained through normal market competition. SubsidyAsubsidyis an assistance paid to a business or economic sector. Most subsidi

25、es are made by the government to producers or distributed as subventions in anindustryto prevent the decline of that industry (e.g., as a result of continuous unprofitable operations) or an increase in the prices of its products or simply to encourage it to hire morelabor(as in the case of a wagesub

26、sidy). Examples are subsidies to encourage the sale ofexports; subsidies on somefoodsto keep down the cost of living, especially inurban areas; and subsidies to encourage the expansion offarmproduction and achieve self-reliance in food production.Trade deficitTrade surplusThebalance of trade(ornet e

27、xports, sometimes symbolized asNX) is the difference between the monetary value ofexportsandimportsof output in an economy over a certain period. It is the relationship between a nations imports and exports.A positive balance is known as atrade surplusif it consists of exporting more than is importe

28、d; a negative balance is referred to as atrade deficitor, informally, a trade gap.AcquisitionMerger Mergers and acquisitions(abbreviatedM&A) refers to the aspect of corporate strategy, corporate finance andmanagementdealing with the buying, selling, dividing and combining of differentcompaniesand si

29、milarentitiesthat can help an enterprise grow rapidly in its sector or location of origin, or a new field or new location, without creating a subsidiary, other child entity or using a joint venture.Distinction between mergers and acquisitionsThe termsmergerandacquisitionmean slightly different thing

30、s. The legal concept of a merger (with the resulting corporate mechanics, statutory merger or statutory consolidation, which have nothing to do with the resulting power grab as between the management of the target and the acquirer) is different from the business point of view of a merger, which can

31、be achieved independently of the corporate mechanics through various means such as triangular merger, statutory merger, acquisition, etc. When one company takes over another and clearly establishes itself as the new owner, the purchase is called an acquisition. From a legal point of view, the target

32、 company ceases to exist, the buyer swallows the business and the buyers stock continues to be traded.In the pure sense of the term, a merger happens when two firms agree to go forward as a single new company rather than remain separately owned and operated. This kind of action is more precisely referred to as a merger of equals. The firms are often of about the same size. Both companies stocks are surrendered and new c