DECA MARKETING (copy)

Customary

A usual or traditional way of doing something.

Voluntary

Done by choice, not forced.

Unintentional

Done without meaning to.

Implied vertical conflict

Disagreement between levels of a supply chain (like retailer & manufacturer), even if not directly stated.

Complex distribution patterns

Complicated systems to get products from producers to consumers.

Channel enlargement

Expanding how products are delivered (e.g., more stores or online options).

Comparative advantage

When a business can produce something better or cheaper than others.

Indirect agent

A middleman that helps deliver products without direct control from the seller.

Producer

The person/company who makes the product.

Wholesaler

Buys goods in bulk to resell to retailers.

Industrial user

A business that uses products to make other products (not for resale).

Tying agreements

Illegal when they reduce competition: Forcing someone to buy one product to get another is illegal if it limits choices.

Copyright protection

Needed when a business produces an original artistic work: Like music, books, or videos.

Price fixing

When businesses agree to set prices; illegal.

Reciprocity

Illegal when it limits competition: "I'll buy from you if you buy from me."

Cash-flow analysis

Tracks money in and out of a business.

Sales forecast

Predicts future sales.

Annual report

A yearly summary of a company’s financial status.

Media schedule

Plan of when and where ads will run.

Balance-transfer fee

Charged for moving credit card debt to a new card.

Mutual funds benefit

Investors get professional management of money.

Long-term assets

Things used for a long time, like buildings, equipment.

Budget variance analysis

Helps a business see where it met or missed its financial plans.

Regressive tax

Takes more from lower-income earners.

Progressive tax

Higher-income earners pay more.

Proportional tax

Everyone pays the same percentage.

Corporate tax

Tax paid by businesses.

Executive summary

Short overview of a business plan.

Glossary

List of definitions.

Human-resources management

Handling hiring, training, and employees.

Innovation management

Creating and improving products/services.

Reactive control

Responding to problems after they happen.

Cultural intelligence

Understanding different cultures to work well globally.

Discovery-oriented decision problem

Trying to learn more about a problem.

Strategy-oriented decision problem

Focused on choosing an action.

Causal research

Explores cause-and-effect relationships.

Descriptive research

Describes characteristics of a market or group.

Constructive criticism

Helpful feedback to improve.

Secondary dimensions of diversity

Traits like education, income, or religion (not visible).

Shared vision benefit

Everyone works toward the same goal.

Indifferent statement

Shows no strong feelings or opinions.

Open-ended inquiry

Asks for detailed responses, not yes/no.

Leading question

Suggests a certain answer.

Unstated alternative

A possible answer that’s not directly mentioned.

Price-oriented buying behavior

Chooses the cheapest option.

Quality-based

Chooses the best-made option.

Brand-preference

Prefers certain brands.

Variety-seeking

Likes trying new things.

Marketing mix elements

Product, Price, Place, Promotion.

Demographic

Age, gender, income.

Psychographic

Lifestyle, interests.

Geographic

Location-based.

Rate of usage

How often a customer buys or uses something.

Internal strength

Something your business is good at.

Product benefit

What the product does for the customer.

Product class positioning

Comparing to a whole category (e.g., 'like sugar').

Bundling

Selling products together to increase sales and cut costs.

Advergaming

Using games to promote a product.

Viral video

Shared online quickly and widely.

Consent order

Agreement to stop a business practice without admitting guilt.

Corrective advertising

Fixing false or misleading ads.

Headline

Main title of an ad.

Tag line

A memorable slogan.

Copy

Text of the ad.

Illustration

Picture in the ad.

Sales promotion & advertising

Best for reaching big markets.

Build clientele

Follow up with customers, show care, offer good service.

Service

Helping the customer.

Selling-activity

Actual sales tasks.

Qualifying the customer

Seeing if a customer can/will buy.

Illegal selling practice

Forcing sales through tied agreements or limiting competition.

Best way to learn a complex product

Attend a training session.

Buying motive

Emotional (fear, protection).

Oligopoly

A market dominated by a few large sellers (e.g., airline industry).

Regressive tax

A tax that takes a larger percentage from low-income earners than from high-income earners.

Proportional tax

A tax where everyone pays the same percentage, regardless of income.

Progressive tax

A tax that takes a larger percentage from high-income earners.

Corporate tax

A tax on a company's profits.

Cultural bias

Favoring one's own culture over others.

Lack of transparency

Not openly sharing information.

Conflict of interest

A situation where personal interests could influence professional decisions.

Bribery

Offering something valuable to influence someone's actions.

Information reporting

Sharing collected data in an organized format.

Data processing

Converting raw data into meaningful information.

Data mining

Analyzing large datasets to find patterns.

Information gathering

Collecting data for analysis.

Internal, quantitative

Numerical data from within an organization.

Elementary, qualitative

Basic non-numerical data.

External, quantitative

Numerical data from outside sources.

Organic, qualitative

Natural, descriptive data.

Market-research analysis

Examining data to understand market trends.

Market situation analysis

Assessing the current market conditions.

Skip interval

A sampling method selecting every nth item.

Cluster

A group used in sampling representing the population.

Stratum

A subset of a population sharing similar characteristics.

Quota gap

The difference between desired and actual sample characteristics.

Likert scale

A rating scale measuring attitudes or opinions.

Paired comparison

Comparing two items to judge preferences.

Semantic differential

A scale measuring the connotative meaning of objects.

Retention

The ability to keep customers or employees over time.