DECA Marketing 2024 State

Purpose of Bar Codes and EDI (CM,7)

Bar codes are a way of marking products that allows for electronic data interchange (EDI). The merchandise information stored on the magnetic bar code is used for pricing, inventory control, reordering, market research, etc

Defn. Secondary Data (IM, 10)

Secondary data are information that has been collected for purposes other than the project at hand.

Example of Cooperative Behavior(EI,14)

Willingness to share information

How should companies approach decision making?(MK,18)

By using a data-based approach.

Best way to clarify information(PD,24)

It is always best to get clarification straight from the source of the information.

What do businesses create to help answer the research problem?(IM,27)

They create research objectives.

What is the primary goal of corporate promotion?(PR,33)

The primary goal of corporate promotion is to create a certain image of the company in the eyes of the consumer. This is accomplished by informing consumers about the company, its ideas, and its philosophy.

What is an UPC(PI,35)

The Universal Product Code (UPC) label encodes product information, such as price, brand, and size, which is read by an electronic scanner.

What are the 5 C’s (MP,39)

The situation analysis should look at the company, the customers, the competitors, the collaborators, and the climate (external factors).

What are producers most likely to do if they decide their incomes are inadequate?(EC,40)

They will not make goods or services.

Major reason why most employees lose their jobs(EI,43)

Inability to get along with others.

What is an illegal activity done by manufacturers to reduce competition(CM,47)

closing a sales territory to keep its competitors from obtaining access to the market

What are long-range forecasts used for?(MP,49)

Long-range sales forecasts are used in strategic planning.

What are intermediate-range forecasts used for?(MP,49)

Intermediate-range sales forecasts cover periods of three months to two years. They are used to plan budgets and make determinations regarding capital expenditures

What is a work team?(EI,55)

A work team is a group of employees who are responsible for carrying out an entire work process.

This might include all the steps in producing a product, performing a service, or running a section of the business.

What is reducing discrepancy?(CM,60)

Reducing a discrepancy of quantity means breaking down a large quantity of a product into smaller quantities for final consumers to buy.

What is a product line?(PM,63)

Is a group of related product items

What must companies be aware of when promoting their products in other countries?(PR,67)

When businesses want to promote their products in other countries, they need to be aware of different regulations. One regulatory factor often involves the types of products being advertised.

what are descriptive statistics?(IM,68)

Descriptive statistics are derived by summarizing information gathered from a sample of a population.

What is an express warrenty?(PM,70)

An express warranty is a warranty that is written or expressed verbally.

Why is identifying the real reason for research difficult?(IM,77)

The business cannot always identify a concern, situation, or problem accurately to determine what information it needs

What is a business’s core values? (PM,78)

Also known as its brand values, are the beliefs or qualities that a brand stands for and is built around.

How can one draw attention to a main feature in a magazine ad? (PR,79)

By using white space

A marketing activity that a business should coordinate with distribution to successfully sell its product.(CM,86)

Promotion is a marketing function that communicates information about goods, services, images, and/or ideas to achieve a desired outcome.

An ongoing population trend that affects how businesses market their goods and services(NF,90)

Migration is a population trend that indicates movement of people throughout the country as well as into and out of the country. Migration trends are important to businesses because businesses need to know where their customers are located.

Defn. Multivariate statistics? (IM,68)

Multivariate statistics are derived by analyzing two variables at the same time