DECA Marketing Cluster

Appropriation (Tort)

Involves a business or person who uses, without permission, another person's name, likeness, and other unique characteristics for the benefit or gain of the user

Torts

Civil wrongdoings that cause harm or injury to another party

Wrongful Interference (Tort)

Predatory behavior undertaken by a business to draw either customers or employees away from a competitor

Defamation (Tort)

Making false, malicious statements about a person or organization

Conversion (Tort)

When personal property is taken from the owner and given to someone else to use

Corporation

A type of business that is operated by several people and owned by stockholders

Partnership

A form of business ownership in which the business is owned by two or more persons

Sole Proprietorship

Form of business ownership in which the business is owned by one person

Cooperative

Owned and operated by its user-owners to supply goods and services to its members

Channel Management

Involves understanding the concepts and processes needed to identify, select, monitor, and evaluate sales channels

Promotion

Involves understanding the concepts and strategies needed to communicate information about goods, services, images, and/or ideas to achieve a desired outcome

Pricing

The marketing function that involves determining and adjusting prices to maximize return and meet customers' perceptions of value

Product/Service Management

The marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities

Intermediarires

Middlemen and incude sales agents, wholesalers, and retailers who perform specific functions in the movement of goods form producers to consumers

Direct Channels of Distribution

Involve producers and either industrial or ultimate consumers

Green Marketing

Practice of pricing, promoting, and distributing products in such a way that they do not harm the natural environment

Consumer Protection

Deals with safety features and product labeling standards that protect the consumer

Social Awareness

The practice of enlightening the community of business actions to promote social welfare

International Marketing

Marketing goods and services in foreign countries

Hidden Complaint

Conceal the real complaint a customer has by stating another believable but secondary complaint for their dissatisfaction

Sincere Complaint

A complaint when the customer expresses an honest dissatisfaction

Service Complaint

A complaint which results from poor service

Business Complaint

A complaint in which the customer is dissatisfied with the business in general

Brand Promise

A business's agreement (spoken or unspoken) with customers that will consistently meet their expectations and deliver on its brand characteristics and values

Time Utility

When products are available at the time they are needed or wanted by customers

Form Utility

Usefulness created by altering or changing the form or shape of a good to make it more useful to customers

Place Utility

Usefulness created by making sure that goods and services are available at the place where they are needed or wanted by customers.

Possession Utility

Usefulness created when ownership of a product is transferred from the seller to the user

Quality Control

Ensuring that products met predetermined standards for excellence; also part of operations

Purchasing

Acquiring necessary goods and services; part of operations

Inventory Management

Supervising inventory levels to make sure there is an appropriate balance; part of operations

Competition

Rivalry between two or more business to attract scarce (limited) customer dollars

Profit Motive

Desire to make profit, which moves people to invest in business

Inflation

Rapid rise in prices usually occurring when demand exceeds supply

Excise Tax

A special government tax on certain items, such as gasoline, certain businesses, cars, etc.

Subsidy

Government financial help given to a business

Bonds

A piece of paper (real or virtual) that says the governing body or corporation will borrow your money at a particular interest rate for a particular period of time; Interest-bearing certificates issued by government that promise to pay bond owners a certain sum at a specified time

Discount

the amount by which the price of something is reduced

Union Stewards

Union members elected by their peers to handle any grievances or problems members might have with management

Union President

Responsibilities include leading the union as a whole rather than assisting individuals

Mediator

Involved in union negotiations, clarifying issues, and making suggestions concerning the contract

Arbitrator

Assists with (union) negotiations; In binding arbitration, this person's decisions regarding the contract are final and cannot be changed

Empathy

The ability to put yourself in another person's place

Self-Understanding

Comprehending one's personal needs interests, values, and motives and recognizing their effects on one's behavior

Productivity

The amount and value of goods and services produced (outputs) from set amounts of resources (inputs)

Consensus

Decision-making outcome that requires the substantial agreement of each group member

Minority Rule

Few people in the group make the decision

Vision

A desire for the future that is achieved over time with determination and hard work