Word	Definition
Quality Insurance	Includes the processes used to ensure a product is free of defects and/or meets a desired level of service
Marketing Plan	A formal document that specifies a company’s activities for a determined amount of time
Channel Management	Also known as distribution, channel management deals with getting goods to consumers.
Target Marketing	The process of communicating with a particular group who is most likely to become customers. A target market is usually defined by demographic, geographic and psychographic characteristics
Correlations	Refers to connections between two or more variables in a market research study; correlational analysis uses statistics to determine if a correlation, or connection, exists
Exploratory Research	A study into a problem that provides details where a small amount of information exists. It may use a variety of methods such as trial studies, interviews, group discussions, experiments, or other tactics for the purpose of gaining information.
Economic Impact	The costs or benefits that a particular event, policy change or situation has on the economy
Product Life Cycle	The stages that a product goes through in its life: Introduction, Growth, Maturity and Decline.
Sales Channel	The methods a company uses to market it’s products.
Cash Flow	Refers to the amount of money coming into and going out of a business.
Customer Relations	The way a business interacts with its customers in order to obtain new customers while maintaining the current customer base.
Customer Database	Customer information gathered by a business - such as name, address, phone and purchase history.
Market Size	Refers to the number of buyers and sellers within a market.
Financial Analysis	Evaluating an organization’s financial statements to determine the profitability of the organization, a division within the organization or a specific event or project.
Business Image	The public perception of a business
Amenity	Hotel products and services designed to appeal to guests
Product Mix	All of the different products and/or services a company makes or sells.
Standards	Used generally as an example or model to compare or measure the quality or performance of a practice or procedure.
Observations	Used in marketing research in which people’s actions are watched and recorded.
Product Bundling	Technique of offering two or more complementary goods or services together as a package deal. Bundled items are sold at a price attractively lower than the total of their individual selling prices
Hospitality	A variety of businesses who serve people who are away from home.
Primary Information	Data gathered for the first time for a specific product, service and/or business.
Communication Skills	The ability to convey information to another effectively and efficiently
Social Platforms	Consists of software or technology that allows one to develop, distribute and manage social media
Market	All people who share the same wants and who have the ability to purchase a specific product or service.
Press Release	An announcement made by a business that is sent to the media.
Error	A wrong action that can not be attributed to a lack of knowledge.
Banner Ads	An advertisement that runs along the top, bottom or sides of a website.
Product Extensions	Utilizing a current company’s recognizable brand name to introduce a new or upgraded product
Executive Summary	A statement that outlines the key points of larger document, such as a marketing plan
Security Policies and Procedures	Consists of rules or regulations that protect a business and it’s assets.
Business Image	The public perception of a business
Internal Business Correspondence	Communication and promotional efforts aimed at individuals or groups within an organization
Post-Sales Experience	Includes activities directed toward the customer AFTER the customer has made the purchase - it may include a follow-up thank you, survey or other promotional activity to retain the customer.
Display Ads	A large advertisement - typically in a magazine or newspaper, with large graphics. Also refers to online advertisements that may also include video and audio.
Pricing	The value placed on a good or service.
Continuing Education Courses	A broad term for post-secondary training - including: formal education, webinars, seminars and other training opportunities.
Pop-up Ads	An online form of advertising in which a new browser window opens to display an advertisement
Market Planning	The market planning process typically results in a marketing strategy that can be used to enhance sales for the business producing it.
Safety Procedures	Processes implemented to ensure the safety of workers and customers to a business; including the process for handling on-the-job accidents/injuries.
Warranties	A promise that is given to a consumer that a product will meet certain standards.
Cash Controls	Procedures established by a business relating to credit, collection, cash allocation and disbursements, accounts payable and invoicing.
Promotion	Choices made about advertising, personal selling, sales promotion and public relations used to communicate, inform and persuade potential and current customers
Guarantees	A commitment from a company that their product will perform as described.
Product Marketing	Refers to the marketing of a tangible good or a service - including, developing the product, identifying the target market, and determiming price, promotion and distribution of the product
Clientele	All of the clients of a business.
Word-of-mouth strategy	Utilizing oral or written recommendation by a satisfied customer to the prospective customers of a good or service to obtain sales
Service Marketing	Refers to the marketing of an intangible product (service) - including developing the service, identifying the target market, and determining price, promotion and distribution of the service
Marketing Research Brief	A written document that includes a market and strategic overview, background information, role of research, objectives, suggested approach and research target, reporting requirements, timing, budget and existing research or other information related to the study
Product Positioning	A strategy that either emphasizes features or image to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer.
Visual Merchandising	Conveying a certain image to customers through the manipulation of physical elements within a business
Information Management	Information management is the process of collecting and analyzing data that can be used in the strategic decision making process for a business
Market Identification	The process of a marketer in identifying the most profitable areas to offer a new product or service.
Expense Control	Identifying and reducing business expenses in order to increase profits.
External Business Correspondence	Communications and promotional efforts aimed at individuals or groups outside of an organization.
Distribution	The function of moving and selling goods from producer to consumer.
Branding	Creating a unique image or reputation for a product or company through the development of a name, brand mark and promotion
Operations	Jobs or tasks consisting of one or more elements performed typically in one location.
Economics	Attempts to explain how wealth is created and distributed in communities, how people allocate their resources and any matter that deals with human wants and their satisfaction.
Press Kit	A package of promotional materials sent to the media to inform them about a product
Regulations	A rule, often created by a regulartory agency or government, that can be enforced by law.
Secondary Information	Data that has been previously collected for non-marketing activity and is available for a business’ use.
Suggestion Selling	Selling additional goods or services to a customer.
Marketing Information Management	The process and methods that generates, stores, analyzes and distributes information to promote good decision making for a business.
Diaries	A qualitative marketing research technique where participants are asked to record activities, opinions, etc…in a journal or diary
Mobil Marketing	Promotional messages designed for cell phones, smart phones, tablets or other handheld devices.
Sales Promotion	All marketing activities other than advertising, public relations, and personal selling that are directed at a customer to increase sales.
Invoice	A document that lists goods purchased, price, terms of sale and total amount due
Vendor	An individual or organization with a product for sale
Advergaming	Utilizing a video game to promote a product by integrating that product into the video game
Bias	Inaccuracy in data due to the characteristics of the process employed in the creation, collection, manipulation, and presentation of data, or due to faulty sample design
Tourism	Travelling for leisure, recreation or pleasure.
Channels of Distribution	Refers to the path a product takes from producer to the final consumer.
Emotional Intelligence	The ability to identify, assess and influence one’s own feelings and those of others.
Descriptive Statistics	Utilized in marketing research when mathematical quantities are used to interpret a set of data, providing a simple summary about the data
Direct Marketing	Advertising that sends a promotional message to a targeted group of prospects and customers rather than a mass audience.
Advertising	A form of paid, nonpersonal promotion in which a company promotes an idea, good or service through a variety of media
Competitive Advantage	A circumstance that puts a company in a favorable or superior business position
Cash Flow	Refers to the amount of money coming into and going out of a business.
Pay-Per-Click Ads	An online form of advertising, in which the advertiser pays everytime a potential customer clicks on their advertisement
Sales Data	Usable information collected as part of a sales report - that could include such data as: sales by day, sales by product category, average items per transaction, etc…
Promotional Mix	The combination of advertising, personal selling, sales promotion and public relations used to accomplish an overall marketing strategy.
Terms	Outlines the conditions of a sale, such as when payment is due or shipping method/cost
Professional Development	Specialized training, formal education or other sources of gaining skills necessary for on-the-job success and/ or advancement
Petty-Cash Fund	A small amount of cash kept on hand by a business to cover incidental expenses
Marketing Research	The process of gathering information, conducting analysis and presenting findings for a product or service to make marketing decisions.
Business Law	Laws that govern businesses and transactions between businesses.
Competitive Advantage	A circumstance that puts a company in a favorable or superior business position
Customer Relations	The way a business interacts with its customers in order to obtain new customers while maintaining the current customer base.
Casual Research	A study into an issue or topic that looks at the effect of one thing or variable on another.
Expense Control	Identifying and reducing business expenses in order to increase profits.
Product/Service Management	The process of creating and changing the information about a company’s catalog of offerings.
Public Relations	Promotional activities that are designed to create a good image with the public.

DECA hospitality and tourism