Freshman Seminar - FINAL!!

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marketing concept

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Marketing

9th

Taddei, Kistler, and Sikora FINAL!

117 Terms

1

marketing concept

The idea that a business should strive to satisfy customers needs and wants while generating a profit for the firm is called

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2

geographic

segmenting a market based on where the customers live

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3

Product, Distribution/Placement, Price, and Promotion

What are the 4 Ps of the Marketing Mix?

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4

distribution

the locations and methods used to make products available to customers

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5

behavioral

dividing a market based on the way customers use a product or attitude toward a product

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6

market share

The percentage of total sales volume generated by all companies that compete in a given market

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7

consumers

purchase smaller quantities for their own use.

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8

demoraphic

statistics that describe a population. (age, gender, marital status, ethnic background)

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9

promotion

ways to make customers aware of products, encourages customers to buy

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10

marketing

the process of planning, pricing, promoting, selling, and distributing ideas, goods and services to create exchanges that satisfy customers

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11

product

what a business offers to satisfy needs

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12

target market

____ profile is the detailed description of the typical consumer in a market segment

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13

psychographic

dividing a market based on mental and emotional characteristics of customers

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14

speaker

most listening is done in the presence of a

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15

tone

is verbal attitude, attitude shown through the voice

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16

price

what is exchanged for the product

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17

census

the count of all the people in a country made by the government on a regular basis is

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18

substantial defense

disprove, justify, or excuse the alleged crime (criminal insanity, immunity, self-defense)

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19

probable cause

a reasonable ground for belief

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20

punishment

any penalty provided by law and imposed by a court

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21

extortion

commonly known as blackmail, is obtaining money or other property from a person by wrongful use of force, feat or the power of office.

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22

false pretenses

one who obtains money or other property by lying about a past or existing fact is guilty of

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23

procedural defenses

a defense based on problems with the way evidence is obtained or the way the accused person is arrested, questioned, tried or punished.

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24

arson

the willful and illegal burning or exploding of a building

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25

plea bargain

agreeing to plead guilty to a less serious crime in exchange for having a more serious charge dropped.

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26

Vicarious criminal liability

the holding of a corporation or one of its officers criminally liable for the actions of one of its employees is referred to as

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27

self defense

the use of force that appears reasonably necessary to prevent death, serious bodily harm, rape, or kidnapping to the person using force.

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28

conspiracy

the agreement between two or more people to commit a crime

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29

contempt of court

action that hinders the administration of justice

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30

defense

a legal position taken by an accused to defeat the charges against him or her

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31

forgery

falsely making or materially altering a writing to defraud another

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32

bribery

unlawful offering or giving anything of value to influence performance of an official in the carrying out of his or her public duties

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33

larseny

commonly known as theft, is the wrongful taking of money or personal property belonging to someone else, with intent to deprive the owner of it.

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34

society

a crime is a punishable offense against

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35

I9

Verify ability to work in the US

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36

W4

Form telling employer how much tax to withhold from your paycheck

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37

W2

Form telling how much tax you paid within a given year

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38

Social Security

(6.2%) Provides a small amount of income to elderly, disabled, and orphaned minors

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39

Medicare

(1.45%) Provides health insurance for everyone over 65 and the disabled

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40

Federal Income Tax

(Variable) What runs the federal government

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41

State Tax

(3.07%) Provides a portion of what it takes to run state programs

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42

Occupational Privilege Tax

$10 - For the right to work in PA

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43

What are some other items that come out of your paycheck?

Retirement, Union Dues, and Medical/Dental/Eye Insurance

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44

Disposable income

money available after taxes and deductions

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45

Unearned income

income you didn’t earn

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46

Earned income

money you earned by working

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47

Gross Pay

Amount earned before taxes

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48

Net Pay

amount earned after taxes

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49

Primary purpose of a checking account

pay bills

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50

How to access money in a checking account

ATM, checks, debit

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51

how much interest do you earn on a checking account

little to none

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52

primary purpose of a savings account

to save money or for larger purchases in the future

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53

what type of interest is earned in a savings account

very low interest

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54

2 types of credit

loans, credit card

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55

primary purpose of credit

to get something you may not be able to afford otherwise

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56

How to pay for a less amount of interest

select a mortgage with a shorter repayment period, higher monthly payment, find lower interest rates

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57

principal

the amount you borrow

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58

interest

the amount you get charged for borrrowing the money

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59

P2P

Peer to Peer, a way to send money to friends. The person receiving the money may get up to a 3% vendor fee.

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60

Impact of social media on decision making

we buy things because we see what everyone else has

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61

one of the primary reasons of poor decision making in debt

being too emotional

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62

emotional or logical decisions?

logical decisions

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63

loss aversion

buying something because you are afraid you will be disappointed later

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64

rose tinted glasses

buying something because you’ll think it’ll make you do better at whatever it is you’re doing.

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65

FOMO

fear of missing out

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66

50/30/20 rule

Necessities 50%, Savings 20%, Wants 30%

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67

series discount

when there are multiple discounts

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68

sales tax

6% in the state of PA

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69

gratuity

tip (we usually pay 18%-20%)

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70

Unit Price

the price per unit of a product. It’s used to determine what the best value is.

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71

Associates Degree

a two-year degree earned at a community college

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72

Bachelor’s Degree

A four-year degree earned at college/university

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73

Master’s Degree

A degree beyond bachelor’s, usually +36-40 credits

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74

Doctorate’s Degree

The highest degree that could be earned, requiring extensive research and additional credits.

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75

Technical Academic

A career pathway requiring specialized training at a vocational-technical HS and a 2-year technical/trade school.

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76

Technical Academic

A career/pathway requiring four or more years of education at a college or university

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77

Post - secondary school

An educational program beyond a high school degree

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78

Technical / trade school

An educational program specializing in a particular occupation without taking the humanities classes.

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79

Community / junior college

An educational institution specializing in a two-year degree or certificate. (Associate’s degree, 2 yrs.)

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80

College / university

An educational institution specializing in a Bachelors of Science or Arts, Master's or Doctorate’s degree.

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81

Job

an employment position obtained to earn money

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82

goal

something you want to accomplish

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83

lifestyle

the way a person lives their life

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84

trade

an occupation requiring a specific skill

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85

career

the occupation you plan on pursuing the rest of your life where you use your skills, abilities, and training.

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86

occupation

the list of any types of career/job/trade you may choose from

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87

opportunity cost

loss based on choosing something else

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88

ability

something you are capable of doing

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89

value

something that is important to someone

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90

interest

something you enjoy doing

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91

trait

personality or characteristic

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92

hobby

something that someone pursues outside of one’s occupation.

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93

Hypothetical

Used to assess problem-solving skills, reply speed is assessed. (What would you do if someone broke a jar of pickles)

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94

Close-ended

Usually a yes or no question and is asked to get a specific piece of info.

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95

Behavioral

used to check the behaviors of candidates. The purpose is to determine what a candidate will do by knowing what they did in a similar situation. (When was a time you were stressed out and what did you do to calm yourself down?)

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96

Leading

They are assumptive. Their purpose is to confirm info and allow you to expand. (So, you have a lot of experience in the customer service field, don’t you?)

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97

Multi-barreled

They check your reasoning skills and the questions are linked in such ways that what seems to be one question is actually more than one question about the topic.

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98

assets

anything of value

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99

liabilities

things you own

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100

liabilities

things you owe

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