Week 5 Vocab

1. Niche /nɪtʃ/ ; an area or position which is exactly suitable for a small group of the same type.
(http://dictionary.cambridge.org/dictionary/british/niche_1?q=Niche) 

i.e. It is best to target groups of people who are emotional or fanatical about what you are offering, e.g. sportsmen or hobbyists.

(http://ezinearticles.com/?Niche-Marketing-Examples&id=1831959)

2. Trademark /-mɑːrk/ ; a name or a symbol which is put on a product to show that it is made by a particular producer and which cannot be legally used by any other producer

(http://dictionary.cambridge.org/dictionary/british/trademark_1?q=Trademark+) 

 

  

The trademark tells you about the characteristics of the corporation >>Trademark can tell us about the difference type of business.

Make a sentence of trademark.>> Many company use trademark for tell the difference type of goods.

3.  Royalty /-t ̬i/ ;  the people who belong to the family of a king and queen
(http://dictionary.cambridge.org/dictionary/british/royalty_1?q=Royalty)

     royalty fee ; a set amount of money that a business franchise owner must pay to be part of a franchise system.
(http://consulting.about.com/od/glossaryfaq/g/CF_RoyaltyFee07.htm)
   
     loyalty /-t ̬i/ ; your feelings of support or duty towards someone or something
(http://dictionary.cambridge.org/dictionary/british/loyalty?q=loyalty) 

i.e. I paid the royalty fee for 10%  each month.

4.  synergy /-ɚ-/ ; the combined power of a group of things when they are working together which is greater than the total power achieved by each working separately.

synonyms of synergy. >> synergism, team effort, teaming.

i.e. There are two companies comes to work together by the synergy way.

5.  franchising /ˈfræn.t ʃaɪz/ it is the same pronunciation. 

     Franchise (v.) ; to give or sell a franchise to someone franchisee.
     franchiser ; someone who gives or sells a franchise.
(http://dictionary.cambridge.org/dictionary/british/franchiser?q=franchiser) 
     franchisee ; someone who is given or sold a franchise.
(http://dictionary.cambridge.org/dictionary/british/franchisee?q=franchisee) 

i.e. I want to open business is franchising.