DECA terms (all)

"do not call" laws

allow consumers to register their phone numbers with a "do not call" registry

4 p's of marketing

product, price, promotion, place

a/b testing

this is the process of comparing two variations of a single variable to determine which performs best in order to help improve marketing efforts

accounting function

collects and records the financial information in the appropriate format

accounting

the process of keeping and interpreting financial records

accounts receivable

money owed to the business for purchases made by customers

accrual accounting method

records transactions at the time they occur even if no money changes hands at the time

activity report

an account of sales calls or other business activities carried out by staff

administrative law

includes rules and procedures that are regulated by a government agency

deals with the rules and regulations that have been established by governmental agencies

advertising elements

the items found in an advertisement include headline

advertising media

the physical means of carrying a promotional message in words

advertising

a form of paid

any paid form of non personal presentation of ideas

images

affinity partner relationships

marketing relationships that occur when two compatible companies work together to increase brand awareness for one another

agents

business or individuals that assist in the sale and/or promotion of goods and services but do not take title to them

intermediaries who assist in the sale and/or promotion of goods and services but do not take title to them

alteration

a product mix-strategy in which a business makes changes to its products or product lines

ambivalent behavior

waffling back and forth from one side of an issue to the opposite side

antitrust law

US Federal legislation which limits the growth and use of monopoly power that interferes with the preservation of a free and competitive market system

appropriation (tort)

involves a business or person who uses

arbitrator

assists with (union) negotiations; in binding arbitration

arrest warrant

an order issued by a judge that instructs law enforcement officers to bring to jail an individual who has been charged with a crime

as prices increase

supply quantity

asset

all items have cash value

assortment planning

the aim of assortment planning is to create assortments and define which products are listed for which stores and the quantity of these that should be allotted to individual stores. within a article hierarchy you can plan several levels

automation

a technique that is used to make a process automatic

the use of largely automatic equipment in a system of manufacturing or other production process

balance sheet

statement of a business' assets liabilities and owner's equity

balanced itemized scale

provides an equal number of favorable responses as it does unfavorable responses

bank notes

currency

banner ad

a form of advertising on the World Wide Web delivered by an ad server. this form of online advertising entails embedding an advertisement into a web page. it is intended to attract traffic to a website by linking to the website of the advertiser

bar code

a machine-readable coded in the form of numbers and a pattern of parallel lines of varying widths

bartering

trading one good or service for another good or service

behavior intention scale

a pricing method in which the price of a product is changed according to its demand

below-cost pricing

when a company prices its products below cost

benefit

desirable attribute of a good or service

bi lateral contract

a promise made in exchange for another promise

a reciprocal arrangement between two parties where each promises to perform an act in exchange for the other party's act. each party is an (a person who is bound to another) to its own promise

and an obligee (a person to whom another is obligated or bound) on the other party's promise

bias

inaccuracy in data due to the characteristics of the process employed in the creation

blogging

weblog or weblog. core component of inbound marketing as it can accomplish several initiatives simultaneously such as website traffic growth

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

brand promise

statement that lets the customer know they can expect from a company's products/service

benefits and experiences that marketing campaigns try to associate with a product in its current and prospective consumers' minds

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

break-even anyalsis

financial analysis whose purpose is to identify the level of sales needed to reach the break-even point at various prices

breakthrough project

relies on the use of new technology

budget

an itemized summary of estimated expenditures and income for a specified period

business complaint

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

business image

the public perception of a business

business process management

aligning a company's objectives and activities with customer's needs

buying signals

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

call-to-action

a text link

capital investment

funds invested in a firm or enterprise for the purposes of furthering its business objectives. may also refer to a firm's acquisition of capital assets or fixed assets such as manufacturing plants and machinery that is expected to be productive over many years

capital

resources include money

careers in marketing management

involve all marketing functions; channel management

careers in professional selling

involve market and management activities that determine customers needs/wants and respond through planned

case law

primary source of law that is based on previous court decisions

case study

an in-depth analysis of a person

cash conversion cycle

it measures how fast a company can convert cash on hand into even more cash on hand

the ratio that reflects the number of days between a company paying for raw materials and receiving cash from selling the products made from those raw materials

causal research study

a study into an issue or topic that looks at the effect of one thing or variable on another

central buying

completing all purchases through a central or main office

certificate of deposit (CDs)

a certificate issued by a bank to a person depositing money for a specified length of time

channel management

a process that involves selecting and evaluating channel members to monitor the movement of a product from producer or manufacturer to end user

distribution; how to get goods into consumer hands from the supplier

involves understanding the concepts and processes needed to identify

select

channel member relationships

refers to the interconnectedness of members within a channel of distribution

channels of distribution

the path or route along which goods move from producers or manufacturers to ultimate consumers or industrial users

refers to the path a product takes from producer to the final consumer

chargeback

a demand by a credit-card provide for a retailer to make good the loss on a fraudulent or disputed transaction

classes

the second level of classification and focuses categories within each line. ideally each class will apply to every line

clientele

all of the clients of a business

consists of a body of customers upon which the organization can rely for significant repeat business

closing the sale

occurs when a salesperson gains an agreement to purchase from a consumer

commercial bank

provides a variety of financial services to individuals and business. besides providing savings accounts and other saving options

communication channels

the path a message travels

competition (of business)

the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms

competition oriented pricing

a pricing method in which a seller uses prices of competing products as a benchmark instead of considering own costs or the customer demand

competition

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

competitive analysis

process of comparing a business's income statement with that of its competitors to see how it is doing by industry standards

complex buying behavior

involves much customer involvement because the items are expensive and purchased infrequently

concurrent engineering

performing the stages of product design and development simultaneously

consensus

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

constant sum

a type of comparative rating scale that requires the respondent to assign a value (e.g.

consumer channel activities

delivery

consumer choice

the range of competing products and services from which a consumer can choose

consumer panel

a group of consumers formed for the purpose of discussing a specific topic

consumer protection

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

consumer spending habits

an economic factor that may be a threat or an opportunity

continual improvement

a focus on increasing efficiency and effectiveness in all areas of the organization

continuous scale

type of non-comparative scale that allows respondents to place a slash mark on a line that is bounded by two opposite variables