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Business words and phrases

When reading English newspapers, you may come across many business words and phrases that are unfamiliar to you. Below are a few basic expressions with meanings to help you.

Common business words and phrases

5 Common business words and phrases

Value for money – Not exactly a bargain but worth every penny you pay for it.

Example: The book was not cheap but it did provide all the information he needed to complete his project. He believed it was good value for money.

Luxurious – Something that is top class or significantly better quality than any of its competitors.

Example: The choice between a VW Golf car and a top of the range BMW 7 series is obvious. The VW Golf is a quality car and very reliable. The 7 series BMW is extremely well fitted out, it has many extras including leather seats, lots of leg room and a quality finish. It is indeed a luxurious car.

Reliable –  Something or somebody on whom you can depend.

Example: When purchasing products we always have a choice between a cheap option that may need to be repaired or replaced within a short period of time or a more expensive option on which you can depend and that will last for many years. This more expensive product is reliable and can be depended on.

Customer Loyalty – To retain your customers so that you can continue to sell to them over a number of years.

Example: Companies are always looking for new ways to retain their customers. The old values of meeting, talking to and visiting your customers on a regular basis still work as well today as they did 20 or 30 years ago. These measures will go a long way to ensuring customer loyalty to your product, brand or service.

Product Launch – New products are brought to the market with a lot of excitement and large marketing budgets. This process is referred to as a product launch.

Example: Coca Cola recently introduced a new soft drink to the market “Coca Cola Life”. This new drink was advertised and promoted in many countries and was a successful product launch.

Let us know what business words and phrases you find difficult to understand that we have missed out?

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