An adequate vocabulary is an essential tool in any job, however, it is even more important in marketing. In order to impress customers or simply to be understood correctly, it is crucial to select the proper words and use them properly. This glossary collects 20 words used in the marketing domaine, including their proper pronounciation, definition and examples of how to use them.
Churn Rate
noun
A metric that measures how many customers you retain and at what value.
Example: The churn rate is too high, we must find a way to keep our customers.
fr: Taux de désabonnement
Closing ratio
noun
The percentage of prospects that a sales representative successfully close-wins.
Example: This sales representative's closing ratio is extraordinary, he must have a trick to close so many sales!
fr: ratio de clôture
Cold Calling
noun
Making unsolicited calls in an attempt to sell products or services. It's also a very inefficient way to find potential customers.
Example: Cold calling is dificult because most people hang up the phone without listening to what you have to say.
fr: appel à froid
Commission
noun
A commission is an amount of money paid to someone in exchange for a service, generally a percentage of the value of the item or service sold.
Example: This salesman will make a 2% commission if he closes that sale.
fr: commission
Headquarters
noun
The place or building serving as the managerial and administrative center of an organization.
Example: This company's headquarters are located in Montréal, Québec.
fr: maison mère
Lead
noun
A lead is a potential client or customer who has yet to be qualified as a prospect.
Example: I may have found a potential lead at my meeting this morning.
fr: client potentiel
Margin
noun
The difference between a product or service's selling price and the cost of production.
Example: This product's margin is too low, we either have to reduce production costs or increase the price.
fr: marge
Mark-Up
noun
The amount added to the cost price of goods to cover overhead and profit.
Example: This product has a good mark-up, we should try to sell it more.
fr: majoration
Marketing
noun
The action or business of promoting and selling products or services, including market research and advertising
Example: Proper marketing is essential in a business because it attracts customers.
fr: Commercialisation
Objection
noun
A prospect's challenge to or rejection of a product or service's benefits, and a natural part of the sales process.
Example: I took the time to listen to and acknowledge all of my prospect's objections and I closed the deal.
fr: objection
Profit Margin
noun
A ratio of profitability that measures how much money a company actually keeps in earnings. It's calculated either as a) net income divided by revenues, or b) net profits divided by sales.
Example: Our profit margins are looking very good, all employees will recieve a bonus at the end of the month!
fr: marge de profit
Prospect
noun
A prospect is a lead who has shown interest in the product or service sold by a salesperson.
Example: This prospect asked me for a quote.
fr: prospect
Prospecting
noun
The process of searching for and finding potential buyers.
Example: Prospecting was good this week, we found 10 new prospects!
fr: prospection
Quota
noun
A sales goal; a set amount of sales a sales rep is expected to meet over a given time frame, usually a month and/or quarter.
Example: This sales representative may be in trouble, he didn't manage to fill this months quota.
fr: quotas
Quote
noun
A quote is an estimation of the price of a job or service.
Example: I asked the construction company for a quote for the construction of a deck.
fr: soumission
Representative
noun
A representative is a member of the sales department of a company. He finds new customers and represents the company by selling their products or services.
Example: I was hired as a representative for this construction company!
fr: représentant
Salary
noun
A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee.
Example: As a representative, I have a hybrid salary, part of it is fixed and the rest is composed of commissions.
fr: salaire
Sale
noun
The exchange of a commodity for money; the action of selling something.
Example: Although all departments are crucial in a company, the sale department is one of the most important.
fr: Vente
Service
noun
A service is an action that creates a non-tangible result. For example, a haircut is a service.
Example: I own a Service Business, which means I don't sell any products, I only offer services.
fr: service
Up-Selling
noun
When a sales representative sells an existing customer a higher-end version of the product that customer originally bought.
Example: I tried up-selling this customer but he didn't want to hear anyhting about it