DECA Marketing cluster Vocab F25

Data

Information in an unorganized form that have a relationship with current conditions, ideas or knowledge

Sales Forecast

A prediction of future sales based on historical data, market trends, and analysis of customer behavior.

Open-Ended Questions

A question that encourages the consumer to respond with more than a “”yes” or “no” answer

Product Life Cycle

The stages that a product goes through in its life: introduction, growth, maturity, and decline

Buying Signals

Actions that a consumer does to indicate that they are ready to purchase

Data Collection Method

The systematic process of gathering information

Semantic Differential Scale

A method to measure satisfaction on a scale and the responent is asked to circle a munger where 0 is neutral and one moves outwards from in towards the extremes of goodness and badness

Professional Development

Specialized training, formal education or other sources of gaining skills necessary for on-the-job success and/or advancement

Primary Research

Gathering data for the first time for a specific product, service, and/or business

Customer Service

The process of helping a customer purchase a product or service, and/or provide assistance after a purchase has been made

Direct Marketing Channels

Advertising that sends a promotional message to a targeted group of prospects and customer rather that a mass audience

Emotional Motive

A feeling expressed by a consumer through association with a product

Mark-Up Pricing

The practice of adding a constant percent to the price of an item to determine its selling price

Target Marketing

The process of communicating with a particular group who is most likely to become customers. Defined by demographic, geographic, and psychographic characteristics

Product Mix

All of the diffrent products and/or services a company makes or sells

Advertising Elements

The items found in an advertisement including headlines, copy, illustrations, and signage