English vocabulary by Stephanie Boylan TD7

20 economics terms

My glossary focuses on economics as in class we have been studying economic vocabulary in English, and it is the topic from which I have benefited the most.

a generic product
noun
A generic product is something that is sold on the name of the product i.e. what it actually is, rather than having a brand name. https://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/12025-generic-product.html Many stores carry generic goods for lower prices than goods with brand names. For example, generic soft drinks, which say “Cola” instead of having a brand name like Coke or Pepsi, are usually less expensive. https://globalyouth.wharton.upenn.edu/glossary/generic-goods/
Example: You can have a cheaper lifestyle by buying generic products instead of the branded ones which aren't always better quality.
en: un produit générique
this picture shows the difference in price between branded and generic products.
business venture
noun
The business venture definition is a new business that is formed with a plan and expectation that financial gain will follow. Often, this kind of business is referred to as a small business, as it typically begins with a small amount of financial resources. https://www.upcounsel.com/business-venture-definition
Example: there are some major differences between setting up an ordinary business venture and starting a credit union.
en: entreprise commerciale
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Business-to-business (B2B)
noun
Business-to-business (B2B), also called B-to-B, is a form of transaction between businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and a retailer. Business-to-business refers to business that is conducted between companies, rather than between a company and individual consumer. https://www.investopedia.com/terms/b/btob.asp
Example: B2B transactions tend to happen in the supply chain, where one company will purchase raw materials from another to be used in the manufacturing process.
en: interentreprise / commerce entre entreprises
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buyer persona
noun
A buyer persona is a research-based profile that depicts a target customer. Buyer personas describe who your ideal customers are, what their days are like, the challenges they face and how they make decisions. https://www.socialmediatoday.com/news/what-is-a-buyer-persona-and-why-is-it-important/507404/
Example: Creating buyer personas, and continually using them to guide your business, can help keep you centered on the needs of your customers.
en: profil d'acheteur
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greenwashing
verbal noun
activities by a company or an organization that are intended to make people think that it is concerned about the environment, even if its real business actually harms the environment https://www.oxfordlearnersdictionaries.com/definition/english/greenwash?q=greenwashing
Example: A common form of greenwashing is to publicly claim a commitment to the environment while quietly lobbying to avoid regulation.
en: le blanchiment écologique
the factory is being painted over in green: this image shows the goal of greenwashing, making something seem eco-friendly to help the brand's image, even though in reality it isn't
hardship
noun
Hardship is a situation in which your life is difficult or unpleasant, often because you do not have enough money. https://www.collinsdictionary.com/dictionary/english/hardship Something that causes or entails suffering or privation https://www.merriam-webster.com/dictionary/hardship
Example: the economic hardships due to the financial crisis have caused bancruptcy for many companies all across the world
en: difficulté, épreuve
in this picture the man is undergoing a hardship: the boulder he is pushing is stopping him from moving onward, and he can therefor not climb the hill. It is making his goal more difficult to achieve, and is causing suffering.
ideal customer profile (ICP)
adjective + noun
An ideal customer profile is defined as the type of company that would benefit the most from your product or service. Companies that fit your ICP are most likely to buy and continue to use your product, making them extremely important for business growth. https://about.crunchbase.com/blog/what-is-an-ideal-customer-profile-and-how-do-you-create-one/
en: profil client idéal
This picture shows that defining an ICP enables a brand to target the comany that uses their product.
infamous
adjective
having a reputation of the worst kind : notoriously evil Infamous has a small range of meanings, and none of them are ones that most people would care to be described with. It may mean "notoriously evil," "disgraceful," or "convicted of an offense bringing infamy" (infamy is "evil reputation brought about by something grossly criminal, shocking, or brutal"). not the opposite of famous https://www.merriam-webster.com/dictionary/infamous
Example: the infamous serial killer has been given a life sentence
en: tristement célèbre
jeffrey dahmer is an infamous serial killer
market segmentation
noun
Market segmentation is a technique you can use to divide your customer base into subgroups based on shared characteristics, such as age, income, hobbies and location. The aim of segmentation is to tailor marketing efforts to your ideal customer profile (ICP), i.e. the customers most likely to buy your product or service. https://www.yieldify.com/blog/types-of-market-segmentation/
Example: market segmentation can drive significant growth.
en: la segmentation du marché
the group of people has been segmented: it conveys the idea of market segmentation, they have selected the part of the market which forms the essential part of their customers.
price skimming
verbal noun
Price skimming is a pricing strategy where the price of goods or services is set high at the time of launch and then lowered as consumers become more familiar with it. https://www.priceintelligently.com/blog/bid/183669/ride-the-demand-curve-price-skimming-and-your-pricing-strategy
Example: price skimming can help a brand to maintain their image by creating the perception that their product is a high quality "must-have" due to the high price
en: écrémage des prix/du marché
in this image we can observe price skimming: the orginal price when the product is launched is high and then they start to sell it cheaper when the popularity of the product dies down. A good example of this is Iphones.
royalties
noun
a payment made to writers, people who have invented things, owners of property, etc. every time their books, devices, land, etc. are bought or used by others https://dictionary.cambridge.org/fr/dictionnaire/anglais/royalty?q=royalties
Example: you must pay royalties to the artist if you want to publish this video that features their song.
en: indemnités
they are paying royalties
supply chain
noun
A supply chain is the entire process of making and selling commercial goods, including every stage from the supply of materials and the manufacture of the goods through to their distribution and sale. https://www.collinsdictionary.com/dictionary/english/supply-chain
Example: many companies are looking to reduce their supply chains because of budget cuts
en: chaine d'approvisionnement
detailed steps in the supply chain
sustainability
noun
Sustainability means meeting our own needs without compromising the ability of future generations to meet their own needs. https://www.mcgill.ca/sustainability/files/sustainability/what-is-sustainability.pdf The ability to be maintained at a certain rate or level. "the sustainability of economic growth" oxford languages
Example: Can you ensure the long-term sustainability of these new buildings?
en: durabilité
a sustainable city
target market
noun
the group of people that a company wants to sell its products or services to https://dictionary.cambridge.org/fr/dictionnaire/anglais/target-market
Example: It is highly important to identify your target market in order to carry out a marketing analysis.
en: le marché cible
in this image they are identifying who their target market is
to break even
verb
to earn enough money to pay for expenses, without any profit https://dictionary.cambridge.org/fr/dictionnaire/anglais/break-even
Example: if this business continues to break even then they will have to shut down as it is not profitable
en: atteindre le seuil de rentabilité
the scales are even: it represents what breaking even is: no loss but no profit either
to drive growth
verb
to stimulate growth in order to accelerate the process
Example: Using the latest technology will help to drive growth.
en: stimuler la croissance
Driving growth will raise the turnover and therefor enhance statistics
to pave the way
phrase
if something paves the way to/for something else, it makes the other thing possible to make progress or development easier https://dictionary.cambridge.org/fr/dictionnaire/anglais/pave-the-way
Example: Scientists hope that data from the probe will pave the way for a more detailed exploration of Mars.
en: ouvrir la voie
the man is painting a road, creating a path to be able to move forward which is like paving the way
to sue
verb
to take legal action against a person or organization, especially by making a legal claim for money because of some harm that they have caused you https://dictionary.cambridge.org/fr/dictionnaire/anglais/sue?q=to+sue
Example: the restaurant was sued for food poisoning
en: poursuivre (en justice)
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undercut the competition
verb
When a business undercuts its competitors, it charges less than its competitors to attract customers. https://www.collinsdictionary.com/dictionary/english/undercut
Example: In order to attract more customers we could lower the price of this product, which would allow us to undercut the competition
en: vendre moins cher que la concurrence
in this image they are cutting the price in half which is like undercutting the competition: reducing prices to sell at the lowest price compared to their competitors.
wholesaler
noun
A wholesaler is a person whose business is buying large quantities of goods and selling them in smaller amounts, for example to shops. https://www.collinsdictionary.com/dictionary/english/wholesaler
Example: The wholesaler sells the product in bulk to the retailer who then sells the products individually to the cosumers
en: un grossiste
this is a picture of the warehouse in which the products are ready to be sold by the wholesaler