DECA Marketing Vocab

tagline (1)

a recurring central idea to trigger the desired action from consumers of a specific period.

products (1)

Marketing Era: manufacturing component of a business.

sales (1)

Marketing Era: hiring employees to make a pitch for a product.

purple cow (1)

Marketing Era: where you try to be unique so there is organic buzz around your business.

competition (2)

the absence of this allows business to typically charge a higher price in the growth stage.

functional (2)

the type of packaging that would benefit the product (ie. a straw attached to a juice box).

product positioning map (2)

A two-dimensional or sometimes three-dimensional grid shows how the consumers' perception of a product relates to its competitors.

utility (2)

usefulness to marketers

time (2)

how efficiently can the product get into a consumer's hands (ie. fast food)

consumer (2)

a person who uses a product/service without necessarily buying it.

possession (2)

type of utility that is used when offering discounts, gift cards, or store credit cards.

information (2)

communicating product information or store location through advertisement (newspaper/billboard).

universal product code (2)

the bar code on a package is also called this.

form (2)

taking natural materials and making a product. (taking wood and building a house)

market segmentation (2)

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs

geographics (2)

where people live (rural, urban, suburban) (market segment)

rural (2)

sparsly populated geographic segment

psychographics (2)

peoples' attitudes, interests, and hobbies in relation to a company's product. (market segment)

customer (2)

people who buy goods and services but may not use it.

family life cycle (2)

separating the aspects of the family market into different stages. (market segment)

wasted coverage (2)

Reaching people outside of your target audience.

gen x (2)

people born between 1965 and 1981

Gen Y / Millenials

people born between 1981-1996

gen z (2)

born between 1996-2012

gen alpha (2)

born between 2012-2025

demographics (2)

the characteristics of a population with respect to age, race, and gender. (market segment)

positioning (2)

how people perceive a product (1/4 Ps)

product line (2)

a group of closely related product items

product item (2)

a specific version of a product that can be designated as a distinct offering among an organization's products (ie. specific brand like cherry coke)

Co-branding (2)

when two companies combine their branding to increase consumer loyalty for each product.

Brand Awareness (2)

a stage of branding where a consumer discovers a product in a store.

Materialism (2)

placing an over-inflated amount on the importance of certain brands because of their image.

4 P's (3)

Another term for marketing mix (Product, Price, Promo, Place)

Product Mix (3)

The sum of a company's product lines

Packaging (3)

The wrapping material around a consumer item serves to protect, promote, and communicate, and makes it more useful

Diversification (3)

This is a corporate strategy to do business in multiple industries by offering multiple products

Product Life Cycle (3)

The stages in which the product goes though from when they are developed until they are taken off store shelves

Introduction (3)

This is the initial stage of the PLC where you invest heavily in promotions and product development

Growth (3)

This is the second stage of the PLC where there is very little competition and profits are rising

Maturity (3)

This is the third stage of the PLC where sales are high ad competition is fierce

Decline (3)

This is the fourth stage of the PLC where it is probably time to call it quits, downsize, or liquidate

Strengths and Weaknesses (4)

internal analysis of SWOT (strength, weakness, opportunities, threats)

Opportunities and Threats (4)

internal analysis of SWOT (strength, weakness, opportunities, threats)

Trade Character (5)

personified brand mark (Grimace, Ronald McDonald, Chester Cheeto)

Brand (5)

a name, symbol, term, or design that represents a business/product.

Logo (5)

another term for brandmark

Trade Name (5)

another term for a corporation brand

Manufacturers (5)

another term for National Brand, the people/business that makes a product.

Brand Loyalty (5)

when consumers like a brand/product A LOT more than competitors.

Brand Preference (5)

when consumers like a brand/product a bit more than competitors.

Jingle (5)

a brand slogan in music form.

Private Label Brand (5)

the brand is established by wholesalers and retailers to compete with national brands (manufacturers)