Business English: PRICE
Master essential vocabulary, expressions, and collocations related to pricing strategies in business contexts
Key Price Expressions
Here are 14 essential price-related expressions with examples:
They are going to raise prices.
Example: Due to increased production costs, the company will raise prices next quarter.
There has been a 15% price rise over the past two months.
Example: The price rise has affected consumer purchasing habits significantly.
How did you price this product?
Example: We priced it based on competitor analysis and production costs.
The price tag had 16 euros written on it.
Example: She checked the price tag before putting the item in her cart.
There has been a sharp increase in the price of petrol.
Example: The sharp increase in fuel prices is affecting transportation costs.
There will be a high price to pay if we accept investment money from them.
Example: The high price to pay would be loss of control over strategic decisions.
The shares are priced at 33p.
Example: The IPO has priced the shares at 33p each to attract small investors.
What’s the retail price for the mobile phone? What’s the cost price for the mobile phone?
Example: The retail price is $799, while the cost price is $450.
The retail price index for October shows that inflation is at about 3%.
Example: The retail price index is a key economic indicator for central banks.
They want a deal at any price.
Example: The desperate buyer was willing to pay any price to secure the contract.
Most of the supplies we need are available, but at a price.
Example: We can get the materials, but at a price that affects our profit margin.
We can’t put a price on all the good business advice you’ve given us.
Example: Your mentorship is invaluable – we can’t put a price on it.
At 4,000 euros per chair, they are pricing themselves out of the market.
Example: Their premium pricing strategy is pricing them out of the market.
Both companies lost out during the price war.
Example: The price war between the two retailers resulted in significant losses for both.
Business Dialogue Practice
Listen to this business conversation about pricing strategy:
Stella: Hi Nigella. Stella calling.
Nigella: Oh, Stella. How’s it going?
Stella: OK. Just wondering if you’d seen the new prices for the ZX4000.
Nigella: No, not yet. Any problems?
Stella: Well, they’ve decided to raise the price by more than 16%, which will probably have a negative impact on sales.
Nigella: Yes, we could be in danger of pricing ourselves out of the market.
Stella: Yes, our competitors have each individual unit priced at 33 euros, which is about 6% less than ours without taking the rise into consideration.
Nigella: If we’re not careful, we’re just going to become too pricey.
Nigella: I suggest we bring this up with the head of sales as a matter of urgency.
Stella: OK. Good idea. Can I leave that up to you to organize the meeting?
Nigella: Yeah, sure. Speak soon.
Stella: Cheers.
“Pricing is not about what it costs to produce; it’s about what the customer is willing to pay. The right price balances value perception with profitability.”
Positive Impact
Value Perception
Negative Impact
Sales Volume
Risk Level
Pricing Out of Market
Price Vocabulary Glossary
Essential pricing terminology explained:
An increase in price. Example: “There has been a 15% price rise.”
A label showing the price. Example: “The price tag had 16 euros written on it.”
Money used to finance a business. Example: “A high price to pay for investment money.”
The price customers pay. Example: “What’s the retail price for the mobile phone?”
Measure of price changes. Example: “The retail price index shows 3% inflation.”
Goods needed for production. Example: “Supplies are available, but at a price.”
For a high cost. Example: “Available, but at a price.”
Impossible to value. Example: “We can’t put a price on good business advice.”
Charging too much. Example: “Pricing themselves out of the market at 4,000 euros.”
Competitive price cutting. Example: “Both companies lost out during the price war.”
Expensive (informal). Example: “We’re just going to become too pricey.”
Key Pricing Concepts
- Cost Price: The price paid for goods by a retailer (before markup)
- Retail Price: The final price charged to customers
- Price War: Competitive price reductions that can damage profitability
- Pricing Strategy: The method used to determine product prices
- Value-Based Pricing: Setting prices based on perceived customer value
😴 Useful Advice: How Not to Be Bored 😆
Fun ways to spice up your day and beat boredom!
📋 Meetings: How to Make Work Meetings More Fun
- As the meeting starts, stand up and say, “So, boss, what’s the ‘real’ reason for the meeting?”
- Half-way through the meeting, lean back in your chair, put your feet up on the table, and say, “Well, this is the way I see it…”
- Pre-prepare a little paper boat. Then, spill coffee on the conference table and sail your boat down the table.
- Every time someone says something, nod vigorously, and say “uh-huh, uh-huh!”
- Each time the boss makes an important point, make a little coughing noise.
- Bring a hand puppet with you. Use the puppet to ask questions during the meeting, giving it a funny voice, “Hello, Mr President, what were last month’s sales figures?”
- Complain loudly that your neighbour won’t stop touching you. Demand that the boss make him or her stop doing it.
- Bring a large pile of papers to the meeting. Every time the speaker makes a point, pretend to check it in one of the printouts and act as if you have just found some substantiating evidence there.
- Every now and then, smile and wink at someone who is sitting opposite you – preferably a guest. Just for a bit of variety, you might like to shake your head too, as if to say that you think the speaker is lying.
- As everyone gets up to leave, stand by the door, shake their hands and thank them for coming.
🎭 Five Fun Activities to Stop Boredom
- Every time someone asks you a question, answer them with the same question. Do it with a serious look on your face.
- Make a sandwich board advertising your services as a house cleaner and expert gardener. See if anyone requires your services.
- Load yourself up with as many books as possible, then walk down the street trying not to drop any.
- Go to work with a cooking pan on your head. See how long you can keep it there before you are ordered to remove it.
- See how many hairs you can pull out of a sleeping person. Wait until your friend falls asleep then gently start pulling out his or her hairs. If they wake up, quickly look at the ceiling and pretend to be inspecting it.
📘 Idioms
to liven up – to make more exciting
to lean back in your chair – to push your body backwards against the chair so you are at an angle
to spill – if you “spill” a liquid, the liquid accidentally comes out of a container
to nod – to say yes by moving your head up and down
a coughing noise – a noise you make by forcing air out of your mouth
a hand puppet – a little toy that looks like an animal or person and that you control with your hand
a pile of papers – many papers with one on top of the other
a printout – a piece of paper that has been printed on a photocopier or printer
substantiating evidence – evidence that supports a theory
to wink – to open and close one eye as a way of communicating with someone
📚 Glossary
- a sandwich board
- A form of advertising consisting of two large pieces of card with text on them that a person wears on the body.
- a house cleaner
- A person who does cleaning jobs in the house.
- to load yourself up with something
- To put many heavy things in your arms.
- a cooking pan
- A metal container used for cooking.
- to remove
- To take away; to take off.
- a ceiling
- The top part of a room – where the light usually is.
- to pretend
- To act as if something is true even though it isn’t true.
🤡 How Not to Be Bored 🤡
Useful Advice & Office Humor to Spice Up Your Day!
Meetings Makeover: 10 Ways to Liven Up Boring Meetings
- The Honest Opener: Stand up and ask, “So, boss, what’s the ‘real’ reason for the meeting?”
- The Casual Commentator: Lean back, put your feet up, and say, “Well, this is the way I see it…”
- The Coffee Sailor: Sail a paper boat down a coffee-spilled conference table.
- The Over-Enthusiastic Nodder: Nod vigorously and say “uh-huh, uh-huh!” after every statement.
- The Strategic Cougher: Cough loudly during the boss’s important points.
- The Puppet Master: Use a hand puppet with a funny voice to ask questions.
- The Drama Queen: Complain loudly about your neighbor “touching” you.
- The Evidence Finder: Pretend to find substantiating evidence in a pile of papers.
- The Mysterious Winker: Smile, wink, and shake your head at guests during the meeting.
- The Thankful Host: Stand by the door, shake hands, and thank everyone for coming.
Glossary of Fun Terms
To liven up
To make something more exciting. Example: “Let’s liven up this meeting!”
To spill
To accidentally let liquid fall out. Example: “Oops, I spilled my coffee!”
Hand puppet
A toy controlled by your hand. Example: “He brought a hand puppet to the meeting.”
To wink
To close one eye as a signal. Example: “She winked at me during the presentation.”
5 Fun Activities to Beat Boredom
🤔 The Echo Questioner
Answer every question with the same question. Keep a straight face!
🧹 The Sandwich Board Cleaner
Advertise yourself as a house cleaner and gardener. See who bites!
📚 The Book Juggler
Load up with as many books as possible and try not to drop any.
🍳 The Pan-Headed Professional
Go to work with a cooking pan on your head. How long will it last?
🧵 The Hair Puller
Pull hairs from a sleeping friend. If they wake up, pretend to inspect the ceiling!
