DECA test second half

https://cdn.prod.website-files.com/635c470cc81318fc3e9c1e0e/69a1eeab6e1e15a9025b6321_Marketing-District%20Exam.pdf

planned obsolescence

a marketing strategy that makes a product feel useless or outdated after a set period, increasing consumer demands for “newer” replacements

can be achieved by releasing a better designed model, typically seen in tech and fashion

Brand cues

cues/signals that helps consumers remember, recognize, or associate the brand with certain emotions/impressions

e.g. auditory (distinct jingles, brand audios, etc.) visual (logos, color palettes, packaging, etc), written/verbal(taglines, brand names, distinct descriptions), sensory/emotional (weight of packaging, tactile textures, feelings of nostalgia/warmth)

brand touchpoints

point of contact, interaction, exposure where a customer encounters your brand

brand promise

commitment that tells customers what value, quality, or experience they can consistently expect every time they interact with the business

brand identity

the collection of visible, verbal, and sensory elements—such as logos, colors, and tone of voice—that a company uses to intentionally represent itself and shape how it is perceived in the market

distribution channels

network a product or service travels through to get from producer to ultimate customer

direct channel (level 0):The manufacturer sells straight to the consumer without any intermediaries, using company-owned stores, e-commerce websites, or direct sales teams

indirect channel: : The product moves through one or more intermediaries before reaching the buyer

hybrid/dual channel: combines both direct and indirect methods to reach different market segments or sell through multiple avenues simultaneously (e.g., Nike selling via its own app and through sporting goods stores)

Agents/brokers

Connect buyers and sellers to facilitate transactions without taking direct ownership or title of the goods.

Value-Added Resellers (VARs)

modify or bundle a product with extra features before selling it

arbitration

when an impartial third party intervenes a dispute between two sides and the arbitrator determines an appropriate solution