deca 2024 sample

Word-of-mouth promotion

customers who tell others about their satisfaction with the business

Amplified word-of-mouth promotion

the use of proactive efforts (campaigns) in which the business provides specific information to customers (activists) to pass along to their friends, family, and business contacts

organic word-of-mouth promotion

natural: Because customers are satisfied with the business and its products, they tell others about this satisfaction in the course of normal conversation

whole life insurance policy

builds cash value as the policyholder pays premiums at regular intervals. If, at some point, the policyholder needs a loan, they can borrow the cash value of the policy

Universal life insurance

combines death benefits with an investment and savings plan that earns interest at current market rates

term insurance

only pays death benefits if the policyholder dies during the set period of time covered by the policy

descriptive/statistical research

gathers specific information related to an identified issue, situation, or concern. This type of research often utilizes surveys, observations, and existing data to analyze variables and trends.

entertainment guidelines

sets for salespeople to businesses can clearly communicate acceptable and unacceptable entertainment activities

convenience good

a consumer product purchased quickly and without much thought or effort. It may be a staple item, such as bread, or an impulse items

specialty good

items that have special or unique characteristics that customers are willing to exert special efforts to obtain

collection letter

a type of persuasive message that many businesses write to customers who are delinquent in making payments on their accounts

Primary data

data collected specifically for the problem or project at hand

Secondary Data

information that has already been collected and published by others, often used for analysis or research purposes.

Marketing Research

the systematic gathering, recording, and analyzing of data about a specific problem

layaway sale

a type of credit sale in which the customer does not take possession of the good or service until all payments have been made. example: reserving a high-end product with a down payment and paying it off with installments

snowball/referral sampling

sampling method in which researchers ask respondents to help them identify and recruit additional respondents for the study. It is useful for target populations that are very small, specific, or hard to reach.

consideration

what one party gives or receives in exchange for something else

due care

performing your role as well as possible

monolithic branding

company uses same brand name to market various products/product lines

membership group

a social group you already belong to. ex: personal circle of friends

reference group

a group you’re not a part of (you might want to be a part of it or want to avoid being a part of it)

subculture

culture within a culture that is usually defined by ethnicity, religion, geographic region, etc.