Business, Marketing, and Logistics Vocab

An official document issued by a shipping company that lists the goods being transported and serves as a contract between the shipper and carrier.

The customs officer asked to see the bill of lading before allowing the shipment to enter the country.

The act of following rules, laws, or regulations set by a government or organization.

The company hired a lawyer to make sure its operations were in compliance with local environmental laws.

The percentage of website visitors or potential customers who complete a desired action, such as making a purchase or signing up for a newsletter.

The marketing team redesigned the website to improve the conversion rate and turn more visitors into paying customers.

The buying and selling of goods and services online between customers and businesses located in different countries.

Cross-border e-commerce has allowed small businesses to sell their handmade products to customers around the world.

A logistics method where goods arriving at a warehouse are transferred directly to outgoing trucks with little or no storage time.

The supermarket used cross-docking to move fresh produce quickly from suppliers to store shelves.

The total amount of money a business spends on marketing and sales activities to gain one new customer.

The startup realized its customer acquisition cost was too high and decided to focus on social media to reduce advertising expenses.

The process of getting official permission from government authorities to import or export goods across a country's border.

The package was delayed at the airport because customs clearance took longer than expected.

Describing goods that can be bought without paying the usual government taxes or import charges, often at airports or border shops.

She bought a bottle of perfume at the duty-free shop before boarding her international flight.

The system of converting one country's currency into another, or the market where different currencies are bought and sold.

The company lost money because of unfavorable foreign exchange rates when converting euros to dollars.

An official deal between two or more countries that reduces or removes taxes and restrictions on goods and services traded between them.

Thanks to the free trade agreement, local companies can now export their products to Europe without paying extra taxes.

A company or person that organizes the shipment of goods on behalf of a business, handling transportation, paperwork, and customs.

We hired a freight forwarder to manage the shipping of our products from China to Brazil.

A set of international rules that define the responsibilities of buyers and sellers in global trade, such as who pays for shipping and insurance.

The contract used incoterms to clearly explain which company was responsible for delivering the goods to the port.

The final step of the delivery process, when a package is transported from a local distribution center to the customer's home or business.

Last-mile delivery is often the most expensive part of shipping because drivers must stop at many different addresses.

A document issued by a bank that guarantees a seller will receive payment from a buyer once certain conditions are met, commonly used in international trade.

The exporter required a letter of credit from the buyer's bank before agreeing to ship the goods overseas.

The process of adapting a product, service, or content to suit the language, culture, and preferences of a specific country or region.

The app's localization for the Japanese market included translating all text and changing the payment options.

A marketing approach that provides customers with a smooth and consistent shopping experience across all channels, including online stores, mobile apps, and physical shops.

The brand used omnichannel marketing so that customers could start shopping on their phone and finish their purchase in the store.

Short for Search Engine Optimization; the practice of improving a website so it appears higher in search engine results and attracts more visitors.

After investing in SEO, the online store appeared on the first page of Google and received many more customers.

The entire network of people, companies, and processes involved in making and delivering a product, from raw materials to the final customer.

The pandemic disrupted the global supply chain, making it difficult for factories to get the parts they needed.

A tax that a government charges on goods imported from another country, which usually makes those goods more expensive.

The government raised the tariff on imported cars to encourage people to buy locally made vehicles.

The business activity of storing goods in a large building before they are sold or distributed to customers.

The company invested in warehousing near the city to ensure faster delivery to local stores.