DECA PSE Performance Indicators

DECA PSE Performance Indicators Flashcards

Legal and Ethical Considerations in Selling

Following laws and doing what's right; being honest, not using high-pressure tactics, and respecting customer rights.

Key Factors in Building a Clientele

Excellent customer service, follow-up, trust, personalized attention, and consistent communication.

Word of Mouth Channels

Customer reviews, referrals, social media shares, influencer posts, and in-person recommendations.

Types of Advertising Media

TV, radio, print, online, outdoor, and direct mail.

Business Ethics in Promotion

Promoting truthfully and responsibly; no false claims, respecting privacy, and avoiding offensive or manipulative content.

Product Promotion

Promotes a specific item or service.

Institutional Promotion

Promotes the company image or values.

Use of Technology in Pricing Function

Using software, AI, and data tools to set prices, track competitors, adjust in real-time, and analyze customer behavior.

Nature and Scope of Pricing Function

Setting a price that covers costs, creates profit, and stays competitive; affects demand, sales, and brand perception.

Concept of Marketing Strategies

Plans used to reach goals by identifying a target market and using the 4Ps: Product, Price, Place, and Promotion.

Techniques for Processing Marketing Data

Organizing data into charts, using software to find trends, and analyzing customer behavior to make decisions.

Methods to Design Marketing Research Studies - Descriptive

Describes characteristics of a market.

Methods to Design Marketing Research Studies - Exploratory

Gathers preliminary info to define problems.

Methods to Design Marketing Research Studies - Causal

Tests cause-and-effect relationships.

Role of Ethics in Marketing Information Management

Protecting customer privacy, being honest about how data is collected, and not misusing or selling it without permission.

Nature and Scope of Marketing Info Management

Collecting, analyzing, and using data to make marketing decisions, improve products, and meet customer needs.

Coordinate Channel Management with Other Marketing Activities

Making sure product delivery (distribution) works smoothly with promotion, pricing, and product strategies.

Legal Considerations in Channel Management

Following laws like anti-trust regulations, fair trade, contracts, and preventing price fixing or unfair competition.

Nature and Scope of Channel Management

Managing how products move from producer to consumer; involves selecting partners, managing relationships, and logistics.

Factors Used to Position Products and Services

Price, quality, features, benefits, customer needs, and competition; helps create a unique image in the customer's mind.

Nature of Corporate Branding

Creating a consistent image and reputation for the whole company; builds trust and customer loyalty.

Concept of Product Mix

The total variety of products a company offers; includes product lines, items, and categories; helps meet different customer needs.

Uses of Grades and Standards in Marketing

Grades and standards show quality and consistency; help build trust and simplify buying decisions.

Generate Product Ideas

Can come from customer feedback, trends, employees, competitors, or research; Brainstorming and idea screening are key steps.

Business Ethics in Product and Service Management

Being honest about features, ensuring safety and quality, avoiding discrimination, and respecting customer feedback.

Conduct a Risk Assessment of an Event

Identify possible problems, analyze how likely they are, and make plans to prevent or handle them.

Demonstrate Basic Database Applications

Using software to create tables, enter and sort data, run queries, and generate reports; Helps organize and use information.

Role of Ethics in Accounting

Being honest and accurate with financial information, keeping records confidential, and following laws and standards.

Concept of Insurance

A way to protect against financial loss; pay a premium and the insurance company helps cover costs if something bad happens.

Concept of Leadership

Guiding and inspiring others to work toward a goal; Involves communication, vision, decision-making, and responsibility.

Motivate Team Members

Encouraging others by recognizing their work, setting goals, offering support, and creating a positive team environment.

Respect the Privacy of Others

Keeping personal info confidential, not sharing without permission, and following privacy laws and policies.

Handle Customer/Client Complaints

Listen politely, apologize, find a solution, and follow up; Solving problems well keeps customers happy and loyal.

Write Persuasive Messages

Creating messages that convince others to take action; Use a clear goal, strong opening, benefits, proof, and a call to action.

Types of Business Ownership - Sole Proprietorship

One owner, full control and liability.

Types of Business Ownership - Partnership

Shared ownership and responsibility.

Types of Business Ownership - Corporation

Separate legal entity, limited liability.

Types of Business Ownership - LLC

Limited liability and flexible structure.

Types of Business Ownership - Franchise

Uses an established brand under contract.

Nature of Legally Binding Contracts

An agreement between two or more parties that is enforceable by law; must include an offer, acceptance, consideration, mutual intent to be bound, and legality.