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DECA Marketing

DECA Study Guide Questions

What are the performance tasks of marketing? Create, communicate, and deliver value to customers and manage customer relations that benefit the organization.
What are the activities of marketing a business? Develop activities that inform, remind, and/or persuade a target market of ideas, experiences, goods/services, and/or images.
What are the tasks of marketing a business? Use qualitative and quantitative research methods to determine information needs, collect data, analyzing results, present data, develop product planning, understand the needs of customer, business, competitors and products.
What is the importance of social media? The importance of social media is to engage consumers to drive purchases. Focus on creating a personal connection with a brand.
What are the current marketing trends? Social media, "mobile friendly, brand content can be quickly seen and used, data collection and analysis (product changes need to be quick), use of technology to tell story (content marketing), and use of apps.
What is advertising? A form of paid, nonpersonal promotion in which a company promotes an idea, good or service through a variety of media.
What is Channel Management? A process that involves selecting and evaluating channel members to monitor the movement of a product from producer or manufacturer to end user.
What is the Closing Sale? Occurs when salesperson gains an agreement to purchase from a consumer.
What is Competition Oriented Pricing? A pricing method in which a seller uses prices of competing products as a benchmark instead of considering own costs or the consumer demand.
What is Cost-Plus Pricing? This type of pricing includes the variable costs associated with goods, as well as a portion of the fixed costs (costs that don't change -- rent, utilities) of operating the business.
What is Customer Service? The process of helping a customer purchase a product or service and/or providing assistance after a purchase.
What is a Data Collection Instrument? To gather information, marketers can use surveys, interviews, observations, federal and state government agencies, research companies, business publications and trade association publications.
What is Demand Oriented Pricing? A pricing method in which the price of a product is changed according to demand.
What is Direct Marketing Channels? Advertising that sends a promotional message to a targeted group of prospects and customers rather than a mass audience.
What is Distribution? The function of moving and selling goods from producer to consumer.
What is Feature Benefit Selling? Selling technique in which the seller matches a feature with an advantage or benefit that customers want.
What is Greeting Approach? When a salesperson first interacts with a customer by welcoming a customer to the store and states they are available for questions.
What is a Guarantee? A promise that a product has a certain quality or will provide satisfaction.
What is a Headline? A phrase in an advertisement that grabs the consumer's attention, creates interest, and encourages them to read it.
What is an Illustration? A photograph, drawing or other graphic that is used in a promotional message.
What is Market Identification? The process of a marketer in identifying the most profitable areas to offer a new product or service.
What is marketing? The process of creating, communicating, delivering and exchanging offerings that have value for customers to generate profits for a business.
What is Marketing Information Management? The process and methods that generate, stores, analyze and distributes information to promote good decision making.
What is a Marketing Plan? A formal document that specifies a companies activities for a determined amount of time.
What is Market Research? The process of gathering information, conducting analysis and presenting findings for a product or service to make marketing decisions.
What is Mark-up Pricing? The Practice of adding a constant percentage to the price of an item to determine its selling price.
What are Objections? A concern or doubt that a consumer has fort not making a purchase
What are Open-Ended Questions? A Question that encourages the consumer to respond with more than a "Yes" or "No"
What is Personal selling? Any form direct contact between a salesperson and customer to fulfill their wants and needs.
What is Pricing? The value placed on a good or service.
What is Primary Research? Gathering data for the first time for a specific product, service, and/or business.
What is Product Knowledge? Information about a good or service that can include its application, function, features, and use.
What is Product Life Cycle? The stages that a product goes through in its life: Introduction, Growth, Maturity, and Decline
What is Product Mix? All of the different and/or services a company makes or sells
What is Product Service Management? The process of creating and changing the information about a company's catalog of offerings.
What is a Promotion? Choices made about advertising, personal, selling, sales promotion and public relations used to communicate, inform and persuade potential and current customers.
What is Promotion Mix? The Combination of advertising, personal selling, sales promotion and public relations used to accomplish an overall marketing strategy
What is a Promotional Plan? An outline of the Marketing tools, strategies and resources that a company intends to use to promote a product or service.
What is Public Relations? Promotional activities that are designed to create a good image with the public
What is ROMI( Return on Marketing Investment) A financial calculation to determine the profitability returned to the business based on funds spent on communicating with potential customers.
What is a Sales Promotion? All marketing activities other than advertising, public relations, and personal selling that are directed at a customer in order to increase sales.
What is Secondary Research? Data that has been previously collected for nonmarketing activity of trying to bring this about.
What is Selling? When a buyer exchanges cash for a seller's good or service, or the activity of trying to bring this about
What is a Selling Policy? Decisions of a business regarding forms of, payment, returns and exchanges, sales quotas, sales commissions, and legal and ethical issues.
What is Service close? When a salesperson encourages a consumer to purchase with information regarding services available
What is Situation Analysis? The study of internal and external factors that affect marketing strategy
What is a Slogan? A catchy phrase or words that identify a product or business
What are Statistics? Numbers that represent a fact or presents a view of a situation.
What is Target Marketing? The process of communicating with a particular group who is most likely to become customers. A target market is usually defined by demographic, geographic and psychographic characteristics.
What is a Warranty? A promise that is given to a consumer that a product will meet certain standards.
Created by: dhillmusd