BUSINESS ENGLISH PART TWO

WORDS ASSOCIATED WITH SALES PART 2 11. Catalog price Meaning: The price shown for a product in a catalog, before any money is taken off or added (the cost of packing and shipping, for example). Example: “This product is sold at 10% less than the catalog price.” Customers like being given discounts from the catalog price. You may want to use this to your advantage if you think the price might seem too high to them. 12. Agreed price Meaning: Price which has been accepted by the buyer and seller. Example: “I was so disappointed that they suddenly increased the agreed price.” 13. Bargain Meaning: A product bought or offered for sale at a much lower price than is expected. Example: “The laptop was a real bargain.” Telling customers that a certain product is a bargain may win them over. You’ll want to present it as a good “price/quality ratio” (see below), and not just as something cheap. 14. Payment by installments Meaning: A system by which a buyer pays for a product in stages (rather than all at once), while being able to use it. Example: “We couldn’t afford a washing machine at that point, so we paid for it in installments.” 15. Advance payment Meaning: A system by which a customer pays part of the price of a product ahead of time. The balance (the remaining amount) is to be paid when the product is delivered. Example: “We require advance payment for this car, as it is custom-made.” Advance payment is used as a guarantee that customers will pay at a later date when they get the product.  16. Price conscious Meaning: Seeking the lowest prices. Example: “She was so price conscious that she kept looking for the best deal until the product wasn’t available anymore.” 17. Price reduction Meaning: A lowering of the price of goods. Example: “After the huge price reduction, everybody wanted to buy the new model.” 18. Sales pitch Meaning: A sales presentation that tries to persuade someone to buy a product. Example: “Her sales pitch was so good that it convinced almost everyone in the room.” 19. Price/quality ratio Meaning: A product’s ability to deliver performance for its price. Example: “This product has such a good price/quality ratio that I simply have to have it.”  A less technical way to say this is that a product is “great value for the money.” 20. Quote/Quotation Meaning: A formal statement setting out the estimated cost for a particular product or service. Example: “This company gave us the lowest quote, so we chose them.” A quote or quotation is a formal document that you can give to prospective (possible) customers to inform them about the price you can offer. It may also contain the terms of sale and payment. If a buyer accepts the quote, this represents an agreement to buy the product. © 2022 Enux Education Limited. All Rights Reserved