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Services -The Market ∙ market (markets) [H N-COUNT The market for a particular type of thing is the number of people who want to buy it, or the area of the world in which it is sold. The foreign market was increasingly crucial. ... the Russian market for personal computers. 12 N-SINC The market refers to the total amount of a product that is sold each year, especially when you are talking about the competition between the companies who sell that product. The two big companies control 72% of the market. Ben & jerry's conquered the market and in a few years owned their own giant corporation. The actions of a country's competition authority can affect foreign companies' ability to enter its market. Common Collocations to enter a market an emerging market ∙ market economy (market economies) N-COUNT market forces N-PLURAL If you talk about a market economy, you are referring to an economic system in which the prices of things depend on how many are available and how many people want to buy them, rather than prices being fixed by governments. If you talk about market forces, you mean the economic factors that affect the availability of goods and the demand for them, without any help or control by governments. Their ultimate aim was a market economy for Hungary. ...opening the economy to market forces and increasing the role of private enterprise. ∙ market conditions N-ptuiut Market conditions are the economic situation that exists within a market, especially the stock market. Investors need every bit of wile and guile they can acquire to perform well in these market conditions. ∙ marketplace (marketplaces) N-COUNT market sector (market sectors) N-COUNT The marketplace refers to the activity of buying and selling products. A market sector is one part of a market, consisting of related products or services. It's our hope that we will play an increasingly greater role in the marketplace and, therefore, supply more jobs. It achieved this growth by identifying a market sector, and moving quickly to become the market leader in that sector. ∙ segment (segments, segmenting, segmented) rjj N-COUNT A segment of a market is one part of it, considered separately from the rest. Three-to-five day cruises are the fastest-growing segment of the market. Women's tennis is the market leader in a growing market segment - women's sports. S VERB If a company segments a market, it divides it into separate parts, usually in order to improve marketing opportunities. The big six record companies are multinational, and thus can segment the world market into national ones. Perhaps the greatest value of this approach is that it is capable of generating new ways of segmenting the market. ∙ market segmentation N-UNCOUNT Market segmentation is the division of a market into separate parts. ...increasing market segmentation, with specialist builders constructing dwellings aimed at the young singles market and elderly persons. ∙ market share (market shares) N-VAR A company's market share in a product is the proportion of the total sales of that product that is produced by that company in relation to other companies. Ford has been gaining market share this year at the expense of CM and some Japanese car manufacturers. Littlewoods, which is one of Liverpool's major employers, is being hit too by loss of market share in its mail-order business. Common Collocations to lose market share to gain market share to increase market share to grab market share ∙ market entry N-UNCOUNT A company's market entry is its entry into a market where it has not done business before. Digital delivery will certainly lower the cost of market entry. To Services -The Service Industry ∙ service industry (service industries) N-COUNT tertiary industry (tertiary industries) N-VAR A service industry or tertiary industry is an industry such as banking or insurance that provides a service, but does not produce anything. Although shops and service industries are doing reasonably well, manufacturing output is falling. Loans to tertiary industry grew by $171 million over the year. ∙ supplier (suppliers) N-COUNT A supplier is a person, company, or organization that sells or supplies something such as goods or equipment to customers. ...Hillsdown Holdings, one of the UK's biggest food suppliers. japan is Asia's dominant supplier of imports and technology. a leading supplier a sole supplier Common Collocations a major supplier a preferred supplier ∙ supplier partnership (supplier partnerships) N-COUNT A supplier partnership is a relationship between a company and a supplier. ...the practical implementation of supplier partnerships in manufacturing industry. Villadsen is responsible for reducing manufacturing cycle time, strengthening supplier partnerships, overseeing quality assurance and streamlining purchasing procedures. ∙ supplier base N-SING A company's supplier base consists of all the companies that are its suppliers, considered as a group. Most retailers have narrowed their supplier base over the past decade, though Marks and Spencer, for example, is careful to maintain a spread of competing suppliers for its products. We needed to dramatically reduce our supplier base. ∙ outsource (outsources, outsourcing, outsourced) VERB outsourcing N-UNCOUNT If a company outsources goods or services, it pays workers from outside the company to supply the goods or provide the services. Outsourcing is the use of outside companies to supply goods or services. Increasingly, corporate clients are seeking to outsource the management of their facilities. The difficulties of outsourcing have been compounded by the increasing resistance of trade unions. ∙ service business (service businesses) N-COUNT service organization (service organizations) N-COUNT A service business or service organization is a business or an organization that provides a service but does not produce anything. Still more significant was the formal announcement on \une 25th that service businesses such as retailing, transport and banking will be opened to foreign investors. .. .service organizations that deliver repeated services of a common kind, such as car-hire businesses, transport firms, restaurants and so on. ∙ virtual company (virtual companies) N-COUNT A virtual company is a company which outsources all of its activities, and which uses IT to communicate with clients or customers. It is a virtual company, outsourcing everything from manufacture to logistics and sales. One reason it is so competitive is that it has established itself as a virtual company, buying in all distribution and other services from outside suppliers, rather than operating its own facilities. O IT: Topic 1.1; virtual integration: Topic 1.1; service sector:Topic 2.2; lean production: Topic 5.1; JIT manufacturing: Topic 5.1; customer base:Topic 11.2; service: Topic 12.3; service provider: Topic 12.3 136 134 Services - Services and Service Providers 1 ∙ service (services) IB N-COUNT If an organization or company provides a particular service, they can do a particular job or a type of work for you. The kitchen maintains a twenty-four hour service and can be contacted via Reception. Iberia's main objective is to provide an excellent service to its customers. ID N-UNCOUNT The level or.standard of service provided by an organization or company is the amount or quality of the work it can do for you. First Technology is proud of its commitment to excellence and its high standard of service. The current level of service will be maintained except that the evening 'Network Express' trains will be withdrawn. Common Collocations y provide a service > offer a service a mail-order service ∙ services N-PLURAL Services are activities such as tourism, banking, and selling things which are part of a country's economy, but are not concerned with producing or manufacturing goods. In the 25 years to 1998, Scotland's services sector grew by 2.2% a year. Mining rose by 9.1%, manufacturing by 9.4% and services by 4.3%. Common Collocations goods and services public services financial services ∙ customer service N-UNCOUNT Customer service refers to the way that companies behave towards their customers, for example how well they treat them. ...a mail-order business with a strong reputation for customer service. The firm has an excellent customer service department. Common Collocations to provide customer service to improve customer service a customer service representative a customer service centre ∙ service provider (service providers) N-COUNT A service provider is a company that provides a service, especially an Internet service. just under 50 per cent of all home users switched to another service provider last year, compared to 24 per cent of business users. ∙ criterion (criteria) N-COUNT A criterion is a factor on which you judge or decide some:- Location used to be the most important criterion in buying oe but people are showing a tendency to drive further and fur.t for lower and lower prices. We believe our proposals do meet the BBC's core public ser. : criteria of distinctiveness and quality. Common Collocations selection criteria performance cr to meet a criterion for something to set a criterion for something ∙ consumer choice N-UNCOUNT Something that increases consumer choice increases the number of different products or services that are available fat people to buy. Really, there ought to be consumer choice operating here c~: the competitive pressures of the marketplace ought to be c to take effect. The experts say health service reform means higher taxes an less consumer choice. 3 service business: Topic 12.2; service industry: To 12.2 138 Topic 12.4 Services -The Leisure Industry ∙ leisure revolution N-SINC People sometimes refer to the recent increase in tourism and other leisure-time activities as the leisure revolution. By 1970 the canal was ready to play its part in the new leisure revolution that was giving canals an unexpected lease of life. The BBC has been slow to respond to the leisure revolution. relying on tried and tested subjects like cooking and gardening. ∙ work-life balance N-UNCOUNT Your work-life balance is how you organize your days, for example, how many hours you spend at work, and how much time you spend with friends and family or doing things you enjoy. Young people, in particular, expect work-life balance. Middle-ranking and senior managers unanimously stipulated work-life balance as their main criterion when choosing jobs. ∙ social chapter N-SINC The social chapter is an agreement between countries in the European Union concerning workers' rights and working conditions. Britain's rejection of the social chapter of the Maastricht treaty preserves employers' freedom from over-regulation and under- flexibility of labour. ... the 11 governments which signed the social chapter. ∙ body (bodies) N-COUNT A body is an organized group of people who deal with something officially. ...the Chairman of the policemen's representative body, the Police Federation. ...the main trade union body, COSATU, Congress of South African Trade Unions. Common Collocations a review body a regulatory body art independent body ∙ public sector N-SINC The public sector is the part of a country's economy which is controlled or supported financially by the government. ... Carlos Menem's policy of reducing the public sector and opening up the economy to free-market forces. Questions were raised about whether a public sector body should have been investing taxpayers' money in this way. Common Collocations a public sector worker public sector pay public sector borrowing a public sector union a public sector employee a public sector organization ∙ trade association (trade associations) N-COLST I A trade association is a body representing organizations within the same trade. It aims to protect their collective especially in negotiations with governments and trade ur .. .one of the two main trade associations for antiques dea e~ ] ...a comprehensive list of trade associations covering home energy efficiency. ∙ core sector (core sectors) N-COUNT The core sectors of a company or industry are the most important or most profitable areas of its activity. In the UK it could be argued that we have neglected prodi. ::∙: as a core sector, subsequently losing in world trade terms *: Germany, japan, Korea. Hagstrom believes that Buffett's core sectors ~ advertising, consumer products, financial services, healthcare and mer. have the scope to out-perform the SkP 500 in forthcoming years. ∙ service quality N-UNCOUNT Service quality is the level or standard of service providec an organization or company. Improvements in efficiency and in service quality may well require substantial changes. To ensure security for our customers and staff, and to help maintain service quality, phone calls may be recorded. O market share: Topic 12.1; service industry:Topic 12.2; service:Topic 12.3 L 140Topic 12.5 ........................... Services - Financial Services ∙ financial service (financial services) N-COUNT financial product (financial products) N-COUNT A company or organization that provides financial services is able to help you do things such as make investments or buy a pension or mortgage. A financial product is something such as an investment, a pension, or a mortgage. ...voluntary organisations that provide independent advice to consumers on financial services. ...financial service companies. Sites such as moneyextra allow consumers to compare financial products, such as car insurance, from several different companies. ∙ financial services provider (financial services providers) N-COUNT A financial services provider is a company or organization that offers financial services. ...one of the fastest-growing financial services providers in the country. ∙ financial consultant (financial consultants) N-COUNT financial adviser (financial advisers) N-COUNT A financial consultant or financial adviser is someone whose job is to advise people about financial products and services. They have agreed to provide the services of a qualified financial consultant to help you analyse your current investment, pension, mortgage and insurance needs. ...an independent financial adviser. ∙ cashpoint (cashpoints) N-COUNT A cashpoint is a machine built into the wall of a bank or other building, which allows people to take out money from their bank account using a special card. [BRIT] Chris couldn't find a cashpoint to get the money for a taxi home. You are issued with a personal identification number that allows you to withdraw money from more than 400,000 cashpoint machines worldwide. Common Collocations a cashpoint card a cashpoint network a cashpoint machine ∙ electronic trading N-UNCOUNT online banking N-UNCOUNT Electronic trading is the buying or selling or stocks and shares by means of the Internet. Online banking is banking services that are available to customers by means of the Internet. Electronic trading is cheaper than traditional floor trading. Two of the world's biggest investment banks have teamed up with a rival of the New York Stock Exchange to offer a new electronic trading system. This move to online banking has been partly driven by the move to flexible working. ∙ personal banking N-UNCOUNT Personal banking is the part of a bank's activities that is concerned with bank accounts belonging to individual customers rather than to businesses. What they don't understand is that consumers who use PCs for personal banking today used to be those institutions' most profitable customers. Services are confined to a range of personal banking products, such as mortgages. ∙ call centre (call centres) N-COUNT A call centre is an office where people work answering or making telephone calls for a particular company. / phoned Dell's call centre and spoke to an operator, who patiently answered some of my queries. Andrew is one of 204,000 call-centre employees in Britain. ∙ telephone banking N-UNCOUNT Telephone banking is banking services that are available to customers over the telephone. One reason for the relatively slow adoption of online banking is that it is not yet much more convenient than telephone banking. 142
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