DECA food marketing

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211 Terms

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Goal of Marketing

To meet customers' needs (goods and services you need) and wants (goods and services you do not need but would like to have) with products that customers can and will buy

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Six Stigma

Seeks to improve quality of output

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  1. Control

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  1. Define

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  1. Measure

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  1. Analyse

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  1. Improve

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Occasion Responses

When a customer purchases product for an event such as a wedding

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10

Keynesian theory of Unemployment

increase demand and encourage spending, this will increase business production and allow them to retain more workers

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Data Encryption

What process secures a wireless network by protecting data packets being transmitted?

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scrambling the data in a message in a systematic way in order to prevent competitors from electronically monitoring confidential data transmission

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Negotiations

What builds long term relationships with customers, suppliers, coworkers, and other businesses?

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Marketing Information

What determines target markets needs and wants?

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Proposal

A complex written report that is formal and may be distributed outside the business

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Service Orientation

involves expressing a positive helpful attitude with customers

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People (employees, staff)

The most important resource is?

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Mutual Contacts

This should be mentioned in a letter of application

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Trade Publications

Magazines, newspapers, and books that relate current information about and for a specific industry.

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Elimination of products must be...?

Done carefully to protect a company's image

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Programmed Thinking

a process used to solve problems and generate ideas in logical, analytical, organized ways

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Attribute Listing

Technique which attacks problem by listing various characteristics then thinking of ways to improve each characteristic

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Service Information

A customer benefit from warranties and guarantees which could include giving customers a list of locations at which they can obtain repair or replacement.

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Data Security

Keeping the organization's data safe from theft, modification, and/or destruction

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Compiled Lists

lists of potential customers' names and addresses that are prepared by commercial firms from multiple sources

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Exploratory Research

Research conducted to gather more information about a problem or to make a tentative hypothesis more specific

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Higher than average markup occurs when?

Risk of markdown is great

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Risk of markdown is great with?

Seasonal Items

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Leading Question

A question phrased in a way that suggests the answer that an interviewer wants to hear.

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A leading question can?

Influence the respondents answers and create bias

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Sell the product online when?

It is in the decline stage

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Promotional Decisions

Marketing element referring to selection of the various types of communications that marketers use to inform, persuade, or remind customers of their products.

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Constitutional Law

law that involves the interpretation and application of the U.S. Constitution and state constitutions as well as constitutional rights

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Patent

A _______ is a form of intellectual property that gives its owner the legal right to exclude others from making, using, selling and importing an invention for a limited period of years

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Organic Marketing

occurs naturally when people become advocates because they are happy with a product and have a natural desire to share their support and enthusiasm

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Product Bundling

Selling of multiple related goods/services together as one price package. This creates a sense of value.

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Due Process

The concept that the government must respect the legal rights that are owed to individuals and businesses according to the law of the land

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Consumer Confidence

the extent to which people are optimistic or pessimistic about the future health of the economy

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Project management involves

Planning, scheduling, and monitoring the process of the project to achieve a specific goal.

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Probate Law

Legal process of validating a will

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41

Prevents accidents...?

Compliance with rules

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Electronic Task Organizer

a computer-based time-management tool that helps employees keep track of their appointments and activities

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Situational Analysis (SWOT)

an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment

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SWOT analysis

strengths, weaknesses, opportunities, threats

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Experiment

A research method that tests cause and effect by test marketing new products or comparing test groups with control groups

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Brokerage Firm

Facilitates the buying and selling of investments from a stock exchange (sells lists)

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Problems in secondary research

It can be incomplete

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Written plans help?

to keep a project on track

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Tort

private or civil wrong or injury, other than breach of contract, for which the court provides a remedy in the form of an action for damages

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Three elements of a tort action?

The existence of a legal duty from defendant to plaintiff, breach of that duty, and damage as a result

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Tortfeasor

one who commits a tort

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Compensation

Pay for work completed

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Accounting Software

Creates invoices and records customer payments. Streamlines the Accounting process making it more efficient.

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Property Taxes

Taxes on property, especially real estate, but also can be on boats, automobiles (often paid along with license fees), recreational vehicles, and business inventories.

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Interviews

person-to-person conversations for the purpose of gathering information (data) by means of questions posed to respondents

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What can adding new products do?

Increase sales

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Lean Production

an approach to production that emphasizes the elimination of waste in all aspects of production processes

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Maximizing customer value while minimizing waste

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Credit...?

Encourages customers to buy more freely

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Tax Liability

the total amount of taxes owed

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Channel Conflict

Occurs when channel members are competing amongst themselves for customers.

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Big Data

the huge and complex data sets generated by today's sophisticated information generation, collection, storage, and analysis technologies

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NOT ILLEGAL

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Place Decision

Choosing locations that are accessible to the target market in areas that are consistent with the retailer's positioning

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Conclusive Data

Focuses on cause and effect. It tests what if theories.

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Legal Procedures

Methods and processes used to protect an individual's or business's legal rights.

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Many cases include providing notice.

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Clearly stating a research problem...?

Helps keep the research focused and relevant

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Big Q

A strategic way of thinking about quality management that focuses on ingraining quality into every aspect of an organization.

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Top Quality Management

A uniform commitment to quality in all areas of an organization will promote a culture that meets customers' perceptions of quality

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Information Management

The process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for the purpose of assisting business decision making.

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Retained Earnings

An amount earned by a corporation and not yet distributed to stockholders. Part of owner's equity.

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Behavorial Segmentation

Dividing a market based on some observable actions or attributes by prospective customers, such as where they buy, what benefits they seek, how frequently they buy and why they buy.

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Software

instructions that tell the computer what to do

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Contract Law

an area of civil law governing the validity and enforceability of both oral and written agreements made between two or more parties that involve the exchange of goods, services, money, and or property.

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Last Production Activity

Follow Up

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Follow Up in production is?

Checking to make sure production was carried out according to plan

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Robust Design

reducing variation in a product without eliminating the causes of the variation

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Concurrent Engineering

Performing the stages of product design and development simultaneously, instead of one after another

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Mail-Response Lists

The house lists of other direct-mail advertisers, and they can be rented with a wide variety of demographic breakdowns

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Exclusive Dealing

A distribution strategy that forbids dealers from carrying the competitors products. Usually illegal because it prevents competition.

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Brainstorming

the process of getting a group to think of unlimited ways to vary a product or solve a problem

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Written Communications

Putting ideas thoughts and agreements into words and writing those into a document or letter. Often considered formal because a copy exists.

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Verbal Communication

involves the use of words, spoken or written

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Lateral Communication

communication that takes place among any employees on the same organizational level

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Upward Communication

communication that flows from lower to higher levels in an organization

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Joint Venture Agreement

Usually a short term relationships, an arrangement that involves two or more businesses entering into a relationship by combining complementary resources such as tech, skills, capital or distribution channels, for the benefit of all parties.

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Channels of Distribution

Paths, or routes, that goods or services take from the producer to the ultimate consumer or industrial user

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Informational Message

Main function is to provide information to readers in such a way that they understand the message

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Executive Summmary

Provides an overview of the entire report and contains the most important infrmation

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From Utility

involves changing raw materials or putting parts together to make them more useful

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Memorandum

A frequently used form of brief written communication exchanged by people within a business. Aften distributed to employees to update them on the progress of various projects or inform them on changes in policy

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Simplifying Existing Projects...?

Speeds up production

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External Causes of Business Cycles

Political changes, climatic changes, international relations, discoveries and innovations, psychological changes.

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Price Decision

Deciding on either high markups on lower volume or low markups on higher volume

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Qualitative Research

involves collecting data that includes opinions and personal data

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Focus Group

A small group of people who meet under the direction of a discussion leader to communicate their opinions about an organization, its products, or other given issues.

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Effective note taking involves writing down...?

Key Points

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Ad Layout

A sketch that shows the general arrangement and appearance of a finished ad.

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Advertising

any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor

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