DECA Marketing Cluster Exam

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WHICH CLOSE

When a salesperson encourages a customer to choose between 2 products to close a sale.

ADVERTISING MEDIA

The means of carrying a promotional message in words/speech/pictures (i.e. billboards, radio, TV, internet).

SAMPLE DESIGN

Part of the research plan specifying how and how many respondents will be selected for a study.

PRIMARY RESEARCH

Gathering data for a specific product/service/business for the very first time.

FEATURE

A distinct characteristic of a good/service that distinguishes it from similar items.

DIRECT CLOSE

When a salesperson specifically asks for a purchase.

MARKET PLANNING

Process of organizing and defining the marketing aims of a company and gathering the tactics and strategies needed to achieve them.

STATISTICS

Numbers reflecting a fact, representing a view on a situation.

MARK-UP PRICING

Practice of adding a constant percentage to the price of an item to determine its selling price.

PROMOTIONAL MIX

Combination of advertising, personal selling, sales promotion, and public relations used to achieve an overall marketing strategy.

DIRECT MARKETING CHANNELS

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

COST-PLUS PRICING

Pricing type that includes the variable costs associated with goods plus a fixed cost portion for business operations.

SECONDARY RESEARCH

Data previously collected for non-marketing activity and available for business use.

SELLING

Process of getting buyers to exchange cash for a seller’s good/service.

CLOSING A SALE

When a salesperson gains the customer’s agreement to purchase.

“STANDING ROOM ONLY” CLOSE

When a salesperson encourages a consumer to make the purchase due to product’s short supply or potential price changes.

MARKETING TACTICS

Strategies used to promote a company’s products in order to increase sales.

SALES FORECAST

Projection of future sales.

MARKET RESEARCH

Process of gathering info, conducting analysis, and presenting findings for a product/service in order to make marketing decisions.

COMMUNICATION CHANNELS

The path a message travels.

LIKERT SCALE

A rating system that allows respondents to express a range of opinions with five response options from strong agreement to strong disagreement.

BENEFIT

Desirable attribute from good/service, which customer feels they will gain from purchasing.

WARRANTY

Promise given to customers that product meets certain standards.

TRADE SHOW

Exhibit of products/services of interest to a specific industry.

AFFINITY-PARTNER RELATIONSHIPS

Marketing relationships occurring when two compatible companies work together to create more brand awareness for each other.

SERVICE CLOSE

When the salesperson emphasizes added benefits/services that come with a product in order to persuade the customer to purchase.

PROMOTION

Choices made about advertising, personal selling, sales promotions, and public relations in order to communicate, inform and persuade potential customers.

PUBLIC RELATIONS

Promo activities designed to create a positive public image.

RESPONSE ERROR

Occurs when respondents do not reveal their true opinions on a subject.

CUSTOMER SERVICE

Process of assisting customers purchasing a product, or providing further help after a purchase was made.

COMPETITION-ORIENTED PRICING

Pricing method in which seller uses competing prices as a benchmark instead of considering own costs or customer demand.

CHANNEL MANAGEMENT

Process involving the selection and evaluation of channel members to monitor the movement of a product from producer/manufacturer to end user.

ROMI

Financial calculation to determine profitability returned to business based on funds spent communicating with potential customers.

MARKET

People with the same wants and ability to purchase product/service.

CORPORATE BRANDING

Strategy encouraging new product to be associated with well-known company name.

DATA

Unorganized info with relation to current conditions, ideas or knowledge.

BUSINESS IMAGE

Public perception of a business.

DEMAND-ORIENTED PRICING

Pricing method in which price is adjusted to demand; higher price = stronger demand, lower price = weaker demand.

INTERVIEWER ERROR

Occurs when interviewer makes mistakes, such as influencing the respondent, asking questions in wrong order.

MARKETING RESEARCH BRIEF

A written document that includes a market and strategic overview and role of research.

TARGET MARKETING

Process of marketing to a particular group most likely to become customers.

COPY

The selling message in a promotional message.

SALES PROMOTION

All marketing activities other than advertising, personal selling, public relations directed at a customer to increase sales.

SITUATION ANALYSIS

Study of internal and external factors affecting marketing strategy.

PRODUCT POSITIONING

Marketing strategy that emphasizes product features or image in order to make a brand occupy a distinct position.

BEHAVIOR INTENTION SCALE

Method used to collect info on likelihood that people will demonstrate predictable behavior regarding purchase.

DESCRIPTIVE RESEARCH STUDY

Statistical study used to identify patterns/trends in marketing situation.

CUSTOMER RELATIONSHIP MANAGEMENT

Managing customer relations by collecting info on them to enhance customer service.