DECA TEST TERMS/QUESTIONS

An effective way to create a desire for others to agree with your ideas is to?

Explaining benefits

You create a desire for others to agree with your ideas by explaining how they will benefit from them — people will be more inclined to agree if they hear how they’ll benefit. You have to explain advantages so others do what you suggest

Source: EI:012 Persuade others

Source: LAP-EI-912 — Win them over

What is disability insurance?

Disability insurance provides help to workers when they cannot work due to illness or injury. Liability covers lawsuits and health covers medical expenses.

Source: FI:081 Describe the concept of insurance

What is marketing information and why is it helpful?

Marketing information is marketing related data available inside or outside the company and it often helps businesses to solve problems. By analyzing data, you can solve problems. By analyzing certain data, a business can find a way to solve problems.

What is vertical conflict within a distribution channel? What would be an example?

Vertical conflict occurs between channel members at different levels within the same distribution channel. A retailer that develops and markets a private line of products is selling products that compete with the national brands it carries because the retailer does not spend as much money for packaging and advertising as the national brands do. This can cause the national brand to lose money. (EX: CVS selling OTC meds vs Tylenol)

Source: CM:008 Explain the nature of channel-member relationships

What kind of media is broadcast advertising an example of?

Promotional. Promotional media are channels of communication used by businesses to deliver advertising messages to target groups of consumers. Broadcast media include radio and TV, which use radio waves to reach consumers. Direct mail & out of home media are more forms of promotional media.

Source: PR:007: Describe types of promotional media

What is exploratory research? Experimental research? Causal research?

Exploratory research involves collecting information to help the business define its issue, situation, or concern and decide on how to proceed with its research - this is cheap and not time consuming

An experiment is a research method that tests “cause and effect” by test marketing new products or comparing test groups with control groups

Causal or conclusive research focuses on cause and effect and tests “what if” theories

Source: IM:284 Describe methods used to design market research studies

Promotion of products is a form of

Preselling. Promotion presells goods and services to consumers through persuasion - can appear in media, TV, radio, etc

PR:001: Describe the function of promotion as a marketing function

Keeping track of what’s selling helps to

Spot product trends

It doesn’t help you to support a cause, avoid doing inventory, or project a certain image

Source: MK:015 Discuss actions employees can take to achieve the company’s desired results

A company should consider the target markets needs and wants when it _____? Why?

Positions its company brand.

A corporate brand is the combined impressions, images, or experiences associated with a company or parent company. They have to consider the target markets needs and wants when they position their company brand because then the target market will be more inclined to buy from that company. If they don’t, they’ll probably purchase from other people.

Source: PM:207 Describe factors used by businesses to position corporate brands

What is a form of technology that businesses use to get customer feedback quickly at customer convenience? Why?

Online suvery services.

Businesses can use online survey services to post online surveys for their customers to complete at their convenience. The businesses can retrieve the feedback and analyze the results at their convenience as well. Direct mail is costly

What is the implementation component of a marketing plan? What is one of the functions?

The implementation component explains how the plan will be put into effect. One part of this includes explaining budget considerations and the amount of money needed to implement the marketing plan.

Before a plan can be put into effect, the business needs to evaluate if the investment is worth the cost

MP:007 Explain the nature of marketing plans

What are the 6 basic components of a marketing plan?

Executive summary, situational analysis, marketing goals, strategies, implications, systems for evaluation and control

What is a method for gathering data about the status of your project?

Meetings. You need to be able to meet with your team members to determine the status of an ongoing project.

OP:520 Monitor projects and take corrective actions

What is an example of a successful direct response advertisement? Why?