Podcast
Questions and Answers
In the context of sales, what does 'cold calling' typically refer to?
In the context of sales, what does 'cold calling' typically refer to?
- Calling only high-end or exclusive clients.
- Making calls during the winter season to promote seasonal products.
- Calling customers who have previously expressed interest.
- Phoning people who have not requested a call in order to try to sell them something. (correct)
A 'loss leader' strategy involves selling an item at a higher price than its cost to increase profits directly.
A 'loss leader' strategy involves selling an item at a higher price than its cost to increase profits directly.
False (B)
What is the term for selling goods or property where people make gradually increasing bids?
What is the term for selling goods or property where people make gradually increasing bids?
auction
Bureaucracy, often involving excessive rules and regulations in the administration of a business, is also known as ______.
Bureaucracy, often involving excessive rules and regulations in the administration of a business, is also known as ______.
Match the phrase with the correct definition:
Match the phrase with the correct definition:
What does it mean to 'trade up' something?
What does it mean to 'trade up' something?
If a company 'hammers out a deal', it means they quickly agreed without much negotiation.
If a company 'hammers out a deal', it means they quickly agreed without much negotiation.
What term describes a company being taken over by a larger company?
What term describes a company being taken over by a larger company?
When Carl persevered in telesales, he became quite skilled at persuading customers to ______ with their money.
When Carl persevered in telesales, he became quite skilled at persuading customers to ______ with their money.
Match each term with its corresponding business context:
Match each term with its corresponding business context:
What does 'brand loyalty' refer to in purchasing decisions?
What does 'brand loyalty' refer to in purchasing decisions?
A 'start-up' refers to an established corporation with a long history.
A 'start-up' refers to an established corporation with a long history.
What is the term for giving products a price?
What is the term for giving products a price?
An item said to come under the ______ is being sold at an auction.
An item said to come under the ______ is being sold at an auction.
Match the terms with their meanings:
Match the terms with their meanings:
What does it mean for a company to find a 'niche market'?
What does it mean for a company to find a 'niche market'?
'Telemarketing' involves face-to-face sales interactions.
'Telemarketing' involves face-to-face sales interactions.
What is another term for capital assets?
What is another term for capital assets?
If you want to buy something, you need to find a shop that ______ it.
If you want to buy something, you need to find a shop that ______ it.
Match the following terms to their correct definitions:
Match the following terms to their correct definitions:
When a larger company suggests a 'takeover' to another company, what is it essentially proposing?
When a larger company suggests a 'takeover' to another company, what is it essentially proposing?
A 'TV shopping channel' is exclusively devoted to entertainment programming.
A 'TV shopping channel' is exclusively devoted to entertainment programming.
What type of business organizes the rental of holiday houses and flats?
What type of business organizes the rental of holiday houses and flats?
If two companies could not agree on all the details of the agreement but they managed to reach a ______, it means they found a middle ground.
If two companies could not agree on all the details of the agreement but they managed to reach a ______, it means they found a middle ground.
Match the following activities to their descriptions:
Match the following activities to their descriptions:
Flashcards
Telesales / Telemarketing
Telesales / Telemarketing
Selling or marketing goods and services by phone.
Cold calling
Cold calling
Phoning people who have not requested a call to sell them something.
Hard sell
Hard sell
To attempt to sell something by being very forceful or persuasive.
TV shopping channel
TV shopping channel
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Merchandise
Merchandise
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Purchasing power
Purchasing power
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Shop around
Shop around
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Keep in stock
Keep in stock
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Trade up
Trade up
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Brand loyalty
Brand loyalty
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Loss leader
Loss leader
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Price (Products)
Price (Products)
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Niche market
Niche market
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Auction
Auction
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Lucrative
Lucrative
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Red tape
Red tape
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Administration
Administration
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Proposition
Proposition
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Takeover
Takeover
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Compromise
Compromise
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Hammer out a deal
Hammer out a deal
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Swallowed up
Swallowed up
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Capital assets
Capital assets
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Invest in
Invest in
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Start-up
Start-up
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Study Notes
A career in sales
- Telesales involves marketing goods/services by phone
- Telemarketing involves selling or marketing goods/services by phone
- Cold calling means phoning people who have not requested a call to sell them something
- Hard sell is trying to sell something forcefully or persuasively
- Parting with money means spending money
Buying and Selling
- Purchasing power refers to one's ability to buy goods, meaning how much money they have available
- Shopping around involves checking different companies or shops to find the best value
- Stocks it means keeping a supply of something
- Trading up means buying something of higher value than what you previously owned
- Brand loyalty means confidence in a particular make and tendency to always choose it
- A loss leader is an item sold at a loss to attract customers who will buy more profitable items
- Pricing a product appropriately means giving it a suitable price
- A niche market is a specialized group of customers with particular interests that a company can meet
- Come/go under the hammer means being sold at an auction where progressively higher bids are made until the item is sold to the highest bidder
A career in business
- Lucrative means producing a lot of money
- Red tape means bureaucracy and has negative connotations
- Administration refers to the organization and arrangement of operations
- A proposition is a formal offer
- A takeover is an agreement where one company takes control of another
- Reaching a compromise involves both sides reducing their demands to come to an agreement
- Hammering out a deal involves talking in detail until a business agreement is made
- Being swallowed up means being taken over by a larger company
- Capital assets are things like the buildings and machines owned by a company
- Investing in means putting money into something
- A start-up is a new company
Exercises 7.1
- loss - agency
- capital - assets
- purchasing - power
- shopping - channel
- hard - sell
- letting - agency
- brand - loyalty
- niche - market
- red - tape
Exercises 7.2
- go under
- around
- back
- cold
- part
- bid
- telesales
- niche
- stock
Exercises 7.3
- come to a compromise
- red tape
- a takeover
- lucrative
- start-up
- swallowed up
- proposition
- administration
Exercises 7.4
- reach
- priced
- merchandise
- up
- back
- red tape
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