Step 10 Sales and Negotiation
Vocabulary bank
appeal to
assumed liabilities
bargain
concession
deal
defaulting contractor
distributor
down-market range
enforce
exploratory session
hard sell
maintain relationships with a customer
persuasion
random objection
retailer
reverence
sales force
sales rep
sales team
salesmanship
salesperson
soft sell
sue
up-market
wholesaler
‘win-win’ situation
Key accounts – major clients
Prospects – potential customers
Vocabulary exercises
1. Match these words and phrases with their definitions.
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compromise concession counter-proposal deal point to leave something hanging parameters scenario to set something aside tip trade-off adjourn call it a day give a little ground reached a stalemate sticking point where we stand |
A description of a possible event in the future.
A useful piece of information or advice.
An agreement that settles an argument when people reduce their demands in order to agree.
An exchange involving giving up one thing to get something else.
An individual item or element in a negotiation.
An offer responding to somebody else’s offer.
Fixed limits within which something can or must happen or be done.
To delay making a decision about something.
To temporarily ignore or not think about a particular fact.
Something which is accepted or given up by one side in order to end a disagreement.
Arrived at a position where no more progress is possible.
Barrier or obstacle.
Compromise or make concessions.
End the negotiation.
Have a break in negotiations.
What our position is.
2. Put the following elements of a typical negotiation into a logical order.
Listen carefully to what the other side says.
Make trade-offs: you concede something they want for something you want.
Decide what you want and determine your minimum requirements – what you must get if there is to be an agreement.
Think about acceptable compromises in relation to expected counter-proposals, and try to imagine the counter-proposals the other side will make.
Summarize, verbally or in writing, what has been agreed.
Step 11 Banking
Vocabulary bank
accept deposits
access comprehensive information
act as banker to other banks
advise on
advise on pension planning
arrange for overdraft facilities
arrange mergers and acquisitions
aspect of corporate finance
beneficiary
built-in features
clearing
clearing banks
commercial banks
corporate customers
cost-effectiveness
custody
deal with the public
designated users
direct debit
discount bills
dovetail with
general public
grant loans
grant payment services
group accounts
high-value payments
initiate computerized payments
look after the government’s finance
make loans
manage current accounts
manage customers’ accounts
merchant banks
monetary policy
offer a wide range of services
off-line processing
online / electronic banking
payment processing facilities
present a cheque
priority payments
provide business loans
provide cheque facilities
re-key similar data
standing order
surplus funds
transact foreign exchange business
transact stock
up-to-date financial information
urgent payments