DECA Marketing Exam: A-C

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ABC PRINCIPLE

A method used to rank goals in order of importance; goals identified with an "A" are most important, "B" signifies somewhat important, and "C" represents least important (LAP-PD-019)

ACCEPTANCE SAMPLING

Inspecting a random sample of products to determine whether to accept or reject the entire batch (LAP-OP-163)

ACCESSORIES

Goods or services that complement others

ACCOMMODATING

A negotiating style involving a person who agrees to a certain course of action that benefits someone else, even though they do not equally benefit from the transaction (LAP-EI-062)

ACHIEVEMENT BEHAVIOR

One of the four main leadership styles; leading by setting challenging goals for followers to reach and providing feedback (LAP-EI-027)

ACTIVITY QUOTAS

Quotas designed to control the ways that salespeople use their time and efforts (SE LAP 118)

AD HOC COMMITTEE

A committee that is created for a particular or temporary reason (LAP-EI-045)

AD TRACKING SOFTWARE

A program that instructs computers as to how to count the number of individuals who click on an e-mail link to visit a web site and/or to make a purchase on the web site (PR LAP 14)

ADMINISTRATIVE SERVICES

A career area in which employees facilitate business operations through a variety of administrative and clerical duties, including information and communication management, data processing and collection, and project tracking (LAP-PD-025)

ADMINISTRATIVE SKILLS

The ability to perform essential, routine business tasks such as organizing, planning, filing, billing, computing, etc. (LAP-PD-066, LAP-PD-297)

AFFILIATE MARKETING

A strategy that involves a business paying a third party to promote its products and services; also called influencer marketing (LAP-PR-462)

AFFILIATE PARTNER

A business that agrees to promote and sell another business’s products on the Web in exchange for a sales commission (PM LAP 9)

AGENCY SHOP

A union security agreement in which nonunion members are required to pay dues (LAP-EC-915)

AGENTS

Intermediaries that assist in the sale and/or promotion of goods and services but do not take title to them (LAP-CM-003)

AGILE SUPPLY CHAIN MODEL

A supply chain model supporting companies that manufacture products to the specifications of individual customers (LAP-OP-443)

ALTRUISM

The principle of concern for others’ welfare (LAP-EI-131)

AMBUSH MARKETING

A promotional technique whereby a non-sponsoring business tries to associate with an event to gain recognition as a sponsor (LAP-PR-175)

ANGEL INVESTOR

Someone who provides startup money to a new business (LAP-EC-071, LAP-PD-066)

ANNUAL PERCENTAGE RATE (APR)

Rate of interest expressed as a yearly percentage (FI LAP 1, LAP-FI-002)

ANTITRUST LAWS

Regulations that prevent a person or company from taking any actions to restrain free trade and competition in the marketplace

APPRECIATIVE INQUIRY (AI)

A problem-solving method that encourages us to look at problems in a different way; instead of focusing on what is broken, we focus on what is working and figure out how to expand that success (QS LAP 26)

ARBITRATION

The act of settling a dispute by using an uninvolved third party (LAP-EC-915)

ARBITRATOR

A person who assists in negotiations (LAP-EC-915) ARTICLES OF INCORPORATION

ATTRIBUTE LISTING

A creative-thinking method that involves listing the characteristics or attributes of something and then finding ways to improve these attributes (LAP-PM-127)

AUSTERITY

Strict economic policies meant to reduce government debt and spending (LAP-EC-113)

AUTHORITARIAN MANAGERS

Managers who prefer to exercise a high degree of control over their subordinates; tend to see themselves as the sole source of authority (LAP-EI-037)

BACK ORDER

Term used by shippers to refer to goods that are out of stock and will be shipped at a later date (DS LAP 5)

BACKLINKS

Links to a company’s site that appear on other websites, as a way to show the company site is important and valuable (LAP-PR-299, LAP-PR-462)

BACKWARD INTEGRATION

Acquiring capabilities toward the supplier end of the supply chain (LAP-OP-303)

BAIT-AND-SWITCH ADVERTISING

Promoting a low-priced item to attract customers to whom the business then tries to sell a higher-priced item (LAP-PI-902)BALANCED FUND

BANDWIDTH

The amount of information that can be transmitted over the Internet in a given period of time (BA LAP 4)

BATNA

The best alternative to a negotiated agreement; the best a negotiator can do if an agreement with the other party can’t be reached (LAP-EI-062)

“BIG Q”

A focus on ingraining quality into every aspect of an organization to deliver what customers want and to exceed their expectations; a strategic approach to quality management; also called total quality management (TQM) (LAP-OP-163)

BILL OF LADING

The contract between the shipper and the transportation company (DS LAP 5)

BLIND CARBON COPY

A mailing technique used to keep email addresses private by preventing recipients from seeing who else is receiving the e-mail; also known as BCC (PR LAP 14)

BLIND CHECK

A method of checking goods in which the goods received are listed on a blank form, or dummy invoice, which is then compared to the real invoice in order to ensure the accuracy of the shipment (DS LAP 5)

BOTTOM-UP ESTIMATING

A method of estimating resources by adding up smaller components of the project (LAP-OP-003)

BRAINWRITING

A brainstorming technique that involves writing random ideas or words on pieces of paper and then sharing them with others to build on each other’s ideas (LAP-PM-127)

BROADCAST MEDIA

Promotional media including radio and TV that may be transmitted through the air, cable, or internet (LAP-PR-007)

BROKEN LINK BUILDING

The process of identifying broken links on other websites and offering your content as a replacement (LAP-PR-299)

BUMPER AD(S)

An online advertisement that plays before video content (LAP-PR-007)

BUNDLING

A marketing strategy that involves offering several products for sale as one combined product (LAP-MP-007, LAP-PM-024)

BURGLARY

Any illegal entry into a building to commit a theft (RM LAP 4)

BUSINESS ANALYTICS

An umbrella term covering those careers that provide a bridge between business processes/initiatives and use of IT resources; sometimes referred to as business information management (LAP-PD-297)

BUSINESS/FEASIBILITY ANALYSIS

Examining such factors as demand, costs, competition, capital investment required, and potential profit of a product or service to determine how it will fit into the company’s product mix (LAP-PM-001)

BUSINESS POLICY

Statements outlining practices the business follows, such as warranties and maintenance contracts (LAP-SE-828)

"C" CORPORATION

A form of business ownership that is considered a separate legal entity from its owners; can be owned by unlimited stockholders and is susceptible to dual taxatifon; also known as a public corporation (LAP-BL-003)

CABLE MODEM

A device that is used to transmit data over cable lines at high speeds (PR LAP 14, PR LAP 15)

CALL REPORTS

Records of salespeople’s meetings or contacts with customers (LAP-IM-184)

CANNIBALIZATION

The situation that exists when the sale of one of a company's products takes away sales from another of its products (LAP-PM-003)

CAPITAL BUDGETING

A process in which a firm’s financial managers determine which projects it should invest in (LAP-FI-354)

CAPITAL-INTENSIVE PROCESS

A conversion process that depends on the use of equipment (LAP-OP-017)

CAPITAL STRUCTURE

The organization of the influx and outflow of a company’s money, including where the money goes on a regular basis; how a business pays for its operations (LAP-SM-007)

CASE HISTORY

A detailed account of the benefits received from the use of a product, given by an identified product user (LAP-SE-374)

CASE STUDY

An instructional method that involves giving trainees a written description of an organizational problem, and the trainees are asked to determine the problem and potential solutions (MN LAP 50, SE LAP 123)

CASH CONVERSION CYCLE

Ratio that refers to the number of days between a company paying for raw materials and receiving cash from selling the products made from those raw materials (LAP-FI-354)

CENTER-OF-INFLUENCE METHOD

A method of prospecting in which a salesperson asks a dominant member of a group to use or endorse their products (LAP-SE-001)

CENTRAL BANK

A nation’s main monetary authority (LAP-EC-100)

CENTRAL PLANNING

Detailed economic processes and goals developed by government; usually associated with communist economies (LAP-EC-907)

CENTRALIZED TRAINING

Sales training that is conducted at the home office, plant locations, or central training facilities away from the home office (SE LAP 123)

CHAIN DISCOUNT

A series discount (PU LAP 3)

CHANGE-MANAGEMENT PLAN

In project planning, a document that contains strategies for handling unforeseen changes that may occur during the project (e.g., a natural disaster) (LAP-OP-001)

CHANNEL LENGTH

The total number of channel members in a channel of distribution (LAP-CM-001)

CHANNEL MANAGEMENT

Processes by which marketers ensure products are distributed to customers efficiently and effectively (LAP-CM-001, LAP-CM-006)
A marketing function that involves identifying, selecting, monitoring, and evaluating sales channels (LAP-MK-002)

CHANNEL MEMBERS

Businesses or individuals who assist in moving goods and services from the producer to the consumer (LAP-CM-001, LAP-CM-006)

CHANNEL STUFFING

A deceptive business practice that involves forcing more products through a distribution channel than can realistically be sold to final consumers; used to inflate a company’s sales and financial earnings (LAP-CM-006)

CHANNELS OF DISTRIBUTION

Paths, or routes, that goods or services take from the producer to the ultimate consumer or industrial user (LAP-CM-001, LAP-CM-003, LAP-CM-006, LAP-MK-002, LAP-PR-903)

CHARGEBACK

A financial penalty a middleman assesses to a producer for a variety of issues, such as receiving damaged merchandise (LAP-CM-001)

CHARM PRICING

Pricing a product slightly below a whole number to make the product appear cheaper (LAP-PI-015)

CHECK SHEET

A form for collecting data on the spot; often used to measure product defects by type, cause, location, etc. (LAP-OP-163)

CHOICE CLOSE

A closing technique in which the salesperson helps the customer reach a buying decision by reducing the number of items from which to choose, and then asking the customer to choose between the remaining ones (LAP-SE-895)

CLASSICAL THEORY OF UNEMPLOYMENT

A set of ideas that assumes unemployment begins when wages rise too high and can be controlled by cutting wages (LAP-EC-082)

CLIENTELE

A body of customers upon which an organization can rely for considerable repeat business (HR LAP 19, HR LAP 25, LAP-SE-828)

CLOSED-END(ED) QUESTION

A question that is structured so that it requires a short, precise response (LAP-CO-017, SE LAP 120)

CLOSED-RESPONSE QUESTION

A question that can be answered with “yes” or “no” (LAP-SE-810)

CLOSING ON OBJECTION

A closing technique in which a salesperson answers a customer's objection so the customer no longer has a reason not to buy (LAP-SE-895)

CLUSTER SAMPLING

A probability sampling method in which researchers divide the target population into non-overlapping subpopulations that are determined by geography, and then randomly sample each one (LAP-IM-285)

CLUTTER

The existence of a large number of advertisements within a particular media vehicle (PR LAP 5)

CO-BRANDING

A brand strategy that involves businesses joining forces for mutual benefit and to increase brand recognition, customer loyalty, and sales for the brands involved (LAP-PM-021)

CODEPENDENT RELATIONSHIP

A relationship in which one person compromises their own needs and wants in order to take care of another person who may be experiencing emotional, physical, or financial difficulties (LAP-EI-030)

COERCIVE POWER

The use of threats to motivate followers to complete a desired task by setting up consequences for failure (LAP-EI-135)

COLLECTIVE BARGAINING

The negotiating process in which union leaders and company representatives engage to determine the terms and working conditions that are to be provided to employees (LAP-BL-058, LAP-EC-915)

COLLECTIVE MARK

A trademark or service mark used by members of a cooperative, association, or other group or organization (LAP-PM-153)

COLLUSION

A secret agreement for fraudulent or illegal purposes (LAP-OP-246)

COMANAGED INVENTORY (CMI)

A business arrangement in which both the manufacturer and the distributor collaborate to manage inventory levels (LAP-OP-443)

COMBINATION APPROACH

A type of sales opening that uses any combination of service, merchandise, and/or greeting approaches (SE LAP 101)

COMBINATION RATE

A discount rate offered for advertising in two or more media vehicles owned by the same organization (PR LAP 6)

COMMERCIALIZATION

The point at which a product goes into full-scale production, the marketing plan is put into place, service and sales training are done, and the product’s life cycle begins (LAP-PM-001)

COMMUNICATIONS PLAN

In project planning, a document that contains strategies for managing the flow of information that must occur between all the project’s stakeholders throughout the life of the project (LAP-OP-001)

COMMUNITY RELATIONS

A business or organization's efforts to create goodwill between it and the people in the community (PR LAP 10)

COMPANY POLICY

Rules made in advance by management to assist employees in decision-making at the point of sale (SE LAP 105)

COMPARISON SHOP

The act of visiting other businesses to learn what competing stores are selling and the prices they charge (LAP-SE-810)

COMPETITIVE BIDDING PROCESS

A method of collecting price quotes from suppliers vying for an order or job (LAP-OP-015)

CONCLUSIVE RESEARCH

Causal research; marketing research that focuses on cause and effect and tests “what if” theories (LAP-IM-010)

CONFLICT OF NEEDS

Situation that occurs when a customer needs two or more items at the same time but can only afford one (LAP-SE-874)

CONTENT THEORIES

Theories of motivation that focus on internal needs, drives, and incentives which cause people to behave in a certain manner (MN LAP 47)

CONTINGENCY

An event that may occur in the future but cannot be predicted with accuracy (LAP-OP-001)

CONTINUOUS FLOW SUPPLY CHAIN MODEL

A supply chain model that emphasizes stability and consistency and is typically employed in industries where supply and demand are predictable (LAP-OP-443)

CONTRACTS/AGREEMENTS

Legal agreements between two or more businesses stating that one party is to do something in return for something provided by the other party (BA LAP 5, LAP-NF-001)
CONTROLLING

CONVENIENCE SAMPLING

A non-probability sampling method in which researchers choose respondents based on opportunity (e.g, standing outside a store to interview exiting customers) (LAP-IM-285)