Business English Glossary
Agent – a person who represents another person or company for the purpose of conducting business.
Broker – an agent middleman who arranges for contracts of purchase and sale.
Franchisor – one who grants a franchise.
Franchise – legal permission from a large company to use their name or logo and sell their products.
Franchisee – one who buys a franchise.
Middleman - a person or a company which takes possession of merchandise or arranges for transfer of ownership or merchandise in the channel of distribution.
Wholesaler – a merchant middleman who sells goods to retailers in large quantities.
Ultimate consumer – a person who buys a product for his own personal use, not for sale or use in business.
Distribution – refers to the business activity that delivers products to locations convenient for the customer.
Channel of distribution – the route or way that a product travels from the manufacturer to the consumer. It includes all the middleman, transportation companies, warehouses, and others.
Chain – a group of associated stores or business having the same name and sharing certain features.
Outlet – actual location where the ultimate consumer makes his purchase.
Shopping goods – products which customers purchase only after consideration of many factors and usually after comparing the quality and price with similar products.
Convenience goods – products that are usually inexpensive and purchased at the most convenient location.…
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