Hospitality and Tourism - DECA

Operations

Jobs or tasks consisting of one or more elements performed typically in one location.

Diaries

a qualitative marketing research technique where participants are asked to record activities, opinions, etc... in a journal or diary.

Economic Impact

The costs or benefits that a particular event, policy or situation has on the economy.

Business Image

The public perception of a business.

Continuing Education Courses

A broad term for post-secondary training - including: formal education, webinars, seminars, and other training opportunities.

Standards

Used generally as an example or model to compare or measure the quality or performance of a practice or procedure.

Business Law

Laws that govern businesses and transactions between businesses.

Pay-per-click Ads

An online form of advertising, in which the advertiser pays every time a potential customer clicks on their advertisement.

Expense Control

Identifying and reducing business expenses in order to increase profits.

Quality Insurance

Includes the process used to ensure a product is free of defects and/or meets a desired level of service.

Sales Forecast

The projection of future sales.

Buzz Marketing

Develops from a viral marketing technique used to get consumers talking about a product.

Press Kit

A package of promotional materials sent to the media to inform them about a product.

Vendor

An individual or organization with a product for sale.

Data-collection Instument

To gather information, marketers can use surveys, interviews, observations, federal and state government agencies, research companies, business publications, and trade association publications.

Casual Research

A study into an issue or topic the looks at the effect of one thing or variable on another.

Cash Flow

Refers to the amount of money coming into and going out of a business.

Advergaming

Utilizing a video game to promote a product by integrating that product into the video game.

Marketing

The process of creating, communicating, delivering and exchanging offerings that have value for customers to generate profits for a business.

Customer Relations

The way a business interacts with its customers in order to obtain new customers while maintaining the current customer base.

Channel Manegement

Also known as distribution, channel management deals with getting goods to consumers.

Sales Data

Usable information collected as part of sales report - that could include such data as: sales by day, sales by product category, average items per transaction, etc...

Emotional Intelligence

The ability to identify, assess and influence one's own feelings and those of others.

Banner Ads

An advertisement that runs along the top, bottom, or sides of a website.

Customer Database

Customer information gathered by a business - such as name, address, phone and purchase history.

Error

a wrong action that can not be attributed to a lack of knowledge.

Public Relations

Promotional activities that are designed to create a good image with the public.

Warrenties

A promise that is given to a customer that a product will meet certain standards.

Grades

Used to describe the quality of a product.

Visual Merchandising

Conveying a certain image to customers through the manipulation of physical elements within a business.

Guarentees

A commitment from a company that their product will perform as described.

Social Platforms

Consists of software or technology that allows one to develop, distribute and manage social media.

Market Size

Refers to the number of buyers and seller within a market.

Product Life Cycle

The stages that a product goes through in its life: Introduction, growth, maturity and decline.

Marketing Planning

The market planning process typically results in a marketing strategy that can be used to enhance sales for the business producing it.

Market

All people who share the same wants and who have the ability to purchase a specific product or service.

Marketing Information Management

The process and methods that generates, stores, analyzes and distributes information to promote good decision making for a business.

External Business correspondence

Communications and promotional efforts aimed at individuals or groups outside of an organization.

Product/Service Management

The process of creating and changing the information about a company's catalog of offerings.

Product Development

Process of improving Capabilities of staff through access to education and training opportunities in the workplace, through outside organizations, or observing others perform the job.

Direct Marketing

Advertising that sends a promotional message to a targeted group of prospects and customers rather than a mass audience.

Security Polices And Procedures

Consists of rules or regulations that protect a business and it's assets.

Product Placement

A promotion that involves a brand or product being mentioned or shown in a media outlet - such as television, movies or sporting events.

Word-of-mouth (WOM) Strategy

Utilizing oral or written recommendation by a satisfied customer to the prospective customers of a good or service to obtain sales.

Product Extensions

Utilizing a current company's recognizable brand name to introduce a new or upgraded product.

Buzz Marketing

Develops from a viral marketing technique used to get consumers talking about a product.

Clientele

All of the clients of a business.

Post-sales Experience

Includes activities directed toward the consumer has made the purchase - it may include a follow-up thank you, survey or other promotional activity to retain the customer.

Trade Show

An event at which business within the same or similar industries promote their products.

Safety Procedures

Process implemented to ensure the safety of workers and customers to a business; including the process for handling on-the-job accidents/injuries.

Pricing

The value placed on a good or service.

Consumer Protection

Federal and state laws that regulate the sale and credit policies surrounding consumer sales.

Discussions

A qualitative marketing research technique in which data is gathered through individual or group conversations.

Communication Skills

The ability to convey information to another effective and efficiently.

Terms

Outlines the conditions of a sale, such as when payment is due or shipping method/cost.

Bias

Inaccuracy in data due to the characteristics of the process employed in the creation, collection, manipulation, and presentation of data, or due to faulty sample design.

Promotion

Choices made about advertising, personal selling, sales promotion and public relations used to communicate, inform and persuade potential and current customers.

Promotional Mix

The combination of advertising, personal selling, sales promotion and public relations used to accomplish an overall marketing strategy.

Marketing Research Brief

A written document that includes a market and strategic overview, Background information, role of research, objectives, suggested approach and research target, reporting requirements, timing, budget and existing research or other information related to the study.

Hospitality

A variety of businesses who serve people who are away from home.

Petty-cash Fund

A small amount of cash kept on hand by a business to cover incidental expenses.

Product Mix

All of the different products and/or services a company makes or sells.

Invoice

A document that lists goods purchased, price, terms of sale and total amount due.

Observations

Used in marketing research in which people's actions are watched and recorded.

Questionairre

Written questions, used in marketing research, to obtain information from respondents.

Marketing Plan

A formal document that specifies a company's activities for a determined amount of time.

Press Release

An announcement made by a business that is sent to the media.

Professional Development

Specialized training, formal education or other sources of gaining skills necessary for on-the-job success and/or advancement.

Safety Procedures

Processes implemented to ensure the safety of workers and customers to a business; including the process for handling on-the-job accidents/injuries.

Product Positioning

A strategy that either emphasizes features or image to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer.

Primary Information

Data gathered for the first time for a specific product, service and/or business.

Pop-up Ads

An online form of advertising in which a new browser window opens to display an advertisement.

Channels of Distribution

Refers to the path a product takes from producer to the final consumer.

Tourism

Traveling for leisure, recreation or pleasure.

Marketing Research

The process of gathering information, conducting analysis and presenting findings for a product or service to make marketing decisions.

Cash Controls

Procedures established by a business relating to credit, collection, cash allocation and disbursements, accounts payable and invoicing.

Descriptive Statistics

Utilized in marketing research when mathematical quantities are used to interpret a set of data, providing a simple summary about the data.

Display Ads

A large advertisement - typically in a magazine or newspaper, with large graphics. Also refers to online advertisement that may also include video and audio.

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.

Competitive Advantage

A circumstance that puts a company in a favorable or superior business position.

Service Marketing

Refers to the marketing of an intangible product (service) - including developing the service, identifying the target market, and determining price, promotion and distribution of the service.

Product Placement

A promotion that involves a brand or product being mentioned or shown in a media outlet - such as television, movies or sporting events.

Observations

Used in marketing research in which people's actions are watched and recorded.

Marketing Information Management

The process and methods that generates, stores, analyzes and distributes information to promote good decision making for a business.

Internal Business Correspondence

Communication and promotional efforts aimed at individuals or groups within an organization.

Executive Summary

A statement that outlines the key points of larger document, such as a marketing plan.

Special Events

A public event or activity, used in marketing to promote a business or product.

Economics

Attempts to explain how wealth is created and distributed in communities , how people allocate their resources and any matter that deals with human wants and their satisfaction.

Primary Informtion

Data gathered for the first time for a specific product, service and/or business.

Data-collection Instrument

To gather information, marketers can use surveys, observations, federal and state government agencies, research companies, business publications, and trade association publications.

Branding

Creating a unique image or reputation for a product or company through the development of a name, brand mark and promotion.

Visual Merchandising

Conveying a certain image to customers through the manipulation of physical elements within a business.

Sales Channel

The methods a company uses to market its products.

Descriptive Research

A statistical study to identify patterns or trends in a marketing situation.

Economic Impact

The costs or benefits that a particular event, policy change or situation has on the economy.

Pricing

The value placed on a good or service.

Information Management

Information management is the process of collecting and analyzing data that can be used in the strategic decision making process for a business.