Marketing: English Vocabulary List

a situation in which one organization or entity exclusively controls the production, distribution, or trade of a product or service, making other rivals unable to compete

"The company has a monopoly."

"The tech giant's market monopoly allowed them to dictate prices without fear of competition."

a detailed list or record of all the items or goods in stock or on hand within a particular location, organization, or system

"We checked the store inventory."

"Just-in-time inventory is a complex management strategy that reduces carrying costs by receiving goods only as they are needed in the rigorous production process."

to make a new product or provide a new service and introduce it to the public

"The company will launch a new product."

"The company plans to launch its new smartphone model next month just before the busy holiday shopping season begins."

a commercial enterprise that functions under an agreement, using the branding, systems, and products of an established company

"She opened a pizza franchise."

"He decided to purchase a fast-food franchise to start his own business venture."

to promote or advertise something, typically in a sustained and organized way

"The politician campaigned for months."

"The politician traveled to several cities to campaign for the upcoming election and to ask citizens for their votes and support."