BEN1 / Voc. 12-28 schwer
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cut-throat competition
very strong competition
competitive threat
something that a company can do to weaken the position of a competing company
competitive pressure
the effect that one company can have on a similar company
competing bid
an offer to pay a particular amount of money to take over a company
withdraw from a market
to stop selling something in a particular market
resource allocation
the way that money, people and equipment, etc. are going to be used to achieve something
mission statement
a statement of what a company or organization's main aims are
invade a market
to start to be very successful in a particular market
assets
the things that a company has such as buildings, equipment, expert knowledge, etc.
policy
the purpose and aims of an organization
framework
a set of principles and ideas that establish the way a business, society, etc, operates
EFQM Excellence Model
a model for running a company in which the people involved in the business have a very important part. It was designed by a non-profit organization started by some of the best European companies
technical specifications
details of the exact features, measurements, etc. that somehting has
statutory requirement
somehting that you must do because of the law
kaizen
the principle that somehting can always be improved
International Organization for Standardization
an organization in Geneva that consists of a network of national standards institutes in over 145 countries working in partnership with international organizations, governments, industry, business and sonsumer representatives
fit for purpose
a product that meets the standards to do the job it is required to do
competitive edge
when a company offers a better product or service than a competing company
Total Quality Management
the job of making sure that the quality of products or services is good
reliability
the quality of working well without any problems
perceived quality
a customer's judgement of how good or bad a product is
obsolete
something that is obsolete is not useful anymore
exceed expectations
to be greater than an amount, limit, etc. that you expected
customer delight
great satisfaction that someone has with a company's products
customer approval
satisfaction of a customer's needs
consistency
something that is always the same or behave in the same way especially to a given standard
conformity to specification
when something is made exactly as it has been designed
conformance to specification
when something is made exactly as it has been
homogenous
consisting of people or things that are all of the same type
gloclaization
when a company can sell the same product all over the world and does not need to change it for the market in each country
appoint
to choos someone offically for a job or responsibility
positioning map
a diagram that shows the qualitis and advantages of a particular brand in relation to toher brands
maintain a brand
to keep a brand in existence
generic brand
a name that is used on several different products
enhance a brand
to improve the quality, amount or strength of a brand
branding
the act of giving a company a particular design or symbol in order to advertise its products and services
brand extension
the use of a brand name that already exists for ney type of product
brand equity
the value of a brand to its owners
brand dilution
when a brand becomes less powerful or effective
brand awareness
the degree to which people know about the name of a product
