DECA Marketing Cluster

Firewall

Computer security application

Indirect distribution

Coca cola creates the product and it is indriectly sold at walmart, if it has more than one channel member it is indirect

Informal report

presents facts without analysis

Formal Report

complex information, has different parts, analysis

Activity Report

tracking buiness activites by staff

Financial Analysis

budgeting for marketing activities, obtaining the necessary funds needed for operations, and providing financial assistance to customers so they can purchase the business' products and services

Regulatory Laws

Prohibits buinesses from doing certian activiteis

Apprentice

novice works who are at the begining of their carrer

Journeyman

a fully trained and qualified worker

Bank credit cards

can be used at any buisness that permits

Cash Conversion Cycle

It measures how fast a company can convert cash on hand into even more cash on hand.

Capital Budgeting

ditermining which projects a buiness should invest in

Capital Structure

a firm's mix of debt and equity financing

Price Fixing

buinsess agreement in which buinsses agree on prices of goods or services, resulting in little choice for the consumer

Increase of product price is due to

economic growth

Federal Trade Commission

consumer protection laws

Product Utility

place utility

utility is derived when you can transport goods from one place to another

embezzlement

theft or misappropriation of funds placed in one's trust or belonging to one's employer

Systematic Marketing Information

Better buisness bureaus handle

Department of Commerce

works with businesses, universities, communities, and the Nation's workers to promote job creation, economic growth, sustainable development, and improved standards of living for Americans.

OSHA

elastic demand

recourse

Intermediary

channel members who perform the activities needed in getting a good or service from those who produce it to those who consume itSlotting allowances

Slotting allowances

a cash premium that manufacturers pay to businesses tocover the costs involved in carrying a new product.

gray marketing

involves buying from unauthorized distributors

Vertical conflict

disagreement between different levels of the same channel

Horizontal conflict

occurs among businesses at the same channel level, such as between different franchises for the same business competing in the same city

Downward communication

passes information down the chain of command to employees

Horizontal communication

between persons or departments on an equal level

Monopolized discussion

When one person dominates the discussion, others do not have an opportunity to provide their input.

elasticity

an indication of how changes in price will affect changes in the amounts demanded and supplied.

Private enterprise system characteristics

-Private ownership of property.-Entrepreneurship.

-Consumer independence.

-Market forces (competition, supply and demand, profit motive)

limited authority

a negotiating strategy in which one person claims that s/he does not have the authority to make a decision and must consult another person who is not present during the

negotiation process

Credit union

a financial cooperative set up to provide savings and creditservices to its members

savings and loan association

a financial institution that offers savings accounts and makes loans to borrowers-mostly real estate purchases

absolute advantage

the advantage achieved when a nation can produce a good or

service for less than another nation

asset management firms

-invest their clients' money in different (diversified)

securities by pooling assets

-beneficial to investors who do not have the financial resources and

expertise to obtain securities on their own

-typically manage mutual funds,

hedge funds, and pension plans

investment bank

a financial intermediary that underwritessecurities and facilitates mergers.

Mortgage company

process loans specifically designed for the

purchase of real estate—land, residences, and other types of buildings

Information flow

process of moving info through the appropriate channels or making info accessible to those who need it

Technical monopoly

type of monopoly in which sellers control market with one or more technical products

oligopoly

a market structure in which there are relatively few sellers, and industry leaders usually determine prices

possession utility

created when ownership of product is transferred from seller to customer

What do credit plans allow

Allow customers to pay for purchases gradually, thereby increasing ability to own (possess) more products

Matrix organizational structure

uses horizontal authority to integrate department functions with product orientation

Intensive distribution

a channel structure where the producer's products are stocked in the majority of outlets

Selective distribution

the producer relies on a few intermediaries to carry their product.

Exclusive distribution

producer selects only very few intermediaries.

Never-out list

a listing of a firm's best-sellers or its key items of merchandise

Basic-stock list

a list of minimum amounts of staple goods that should be on hand and reordered

Model stock plan

a list of items that the company always wants to have in stock

Freight forwarders

consolidate orders to put together truckloads of goods

Delphi technique

uses the opinions of the retail chain's executives and outside expert opinions combined

Sales force composite method

based upon the predictions of the members of the sales force and combined into a composite forecast

One of the primary purposes of customs regulations is to

Prevent illegal materials from exiting or entering a country

Electronic Data Interchange (EDI) Systems

The electronic interchange of business information using a standardized format; a process which allows one company to send information to another company electronically rather than with paper.

Trading Partners

Business entities conducting business electronically.

Streamline

Make (an organization or system) more efficient and effective by employing faster or simpler working methods.

Chargeback

A demand by a credit-card provider for a retailer to make good the loss on a fraudulent or disputed transaction.

Scrambled Merchandising

When a shop sells goods that are usually sold by another type of shop, in order to increase profits or attract new customers.

Internal Audience

Public relations term that refers to individuals or groups within (or closely associated with) an organization.

Puffery

Exaggerated or false praise.

Scope

Sum of all individual jobs.

Regulatory Agency

A public authority or government agency responsible for exercising autonomous authority over some area of human activity in a regulatory or supervisory capacity.

Liquid Asset

An asset that can be converted into cash quickly and with minimal impact to the price received.

Profit Margin

The amount by which revenue from sales exceeds costs in a business.

Sugging

The act of selling or attempting to sell a product under the guise of conducting market research.

Price Discrimination

The action of selling the same product at different prices to different buyers, in order to maximize sales and profits.

Tort

A wrongful act or an infringement of a right (other than under contract) leading to civil legal liability.

Bilateral Contract

A reciprocal arrangement between two parties where each promises to perform an act in exchange for the other party's act. Each party is an (a person who is bound to another) to its own promise, and an obligee (a person to whom another is obligated or bound) on the other party's promise.

Executed Agreement

All parties have agreed to the terms and conditions of the proposed contract by signing and initialing any changes to the written document.

Tying Agreement

An agreement by a party to sell one product but only on the condition that the buyer also purchases a different (or tied) product, or at least agrees he will not purchase the product from any other supplier.

Gross Domestic Product (GDP)

The monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis.

High rate of unemployeement generally has an effect on this

Certificate of Deposit (CDs)

A certificate issued by a bank to a person depositing money for a specified length of time.

Turnover

The amount of money taken by a business in a particular period. OR The rate at which employees leave a workforce and are replaced.

Inventory Clerks

Keeps track of stock that moves in and out of a specified location, commonly referred to as a stockroom.

Qualified Lead

A contact that opted in to receive communication from your company, became educated about your product or service, and is interested in learning more.

Sunk Cost

Avoid the feeling of wasting money

channel management

Decides how to get goods to customers

Microbanks

banks that loan very small amounts of money to people who are poor so they can purchase everyday products

Marketing Concept

the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives

Utility

Ability or capacity of a good or service to be useful and give satisfaction to someone.

form utility

the value producers add to materials in the creation of finished goods and services

posession utility

The exchange of a product for money

information utility

Communication with consumer