Deca Marketing Cluster Terms 1-50

FLASHCARDS 1-25

TO REMEMBER

WORD-OF-MOUTH CHANNELS: Oral or written recommendation by a satisfied customer to the prospective customers of a good or service.

CAUSAL RESEARCH STUDY: A study into an issue or topic that looks at the effect of one thing or variable on another.

HEADLINE: A phrase in an advertisement that grabs the consumer's attention, creates interest and encourages them to read a promotional message.

SELLING POLICY: Decisions of a business regarding forms of payment, returns and exchanges, sales quotas, sales commission and legal and ethical issues.

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.

EMOTIONAL MOTIVE: A feeling expressed by a consumer through association with a product

PROFESSIONAL DVLPMNT: Specialized training, formal education or other sources of gaining skills necessary for on-the-job success and/or advancement

SEMANTIC DIFFERENTIAL SCALE: A method used to measure satisfaction on a scale and the respondent is asked to circle a number where 0 is neutral and one moves outwards from it towards the extremes of goodness and badness

PRODUCT LIFE CYCLE: Life cycle of a product: Introduction, Growth, Maturity, and Decline

MARKET IDENTIFICATION: The process of a marketer in identifying the most profitable areas to offer a new product or service

SIGNATURE: Name of the advertiser and/or logo that is the identification for a business in a promotional message

MARKETING PLAN: A formal document that specifies a company's activities for a determined amount of time.

MARKETING STRATEGIES: Identifies a target market and coordinates marketing mix selections to create sales.

SAMPLING PLANS: A course of action that obtains data or observations from a group

SET 2 (26-50)

NON-RESPONSE ERROR: Occurs when selected subjects fail to respond to a questionnaire. This can happen due to defective questionnaire wording and format, interviewer errors and/or inputting errors.

EXPLORATORY RESEARCH STUDY: 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

TRIAL CLOSE: An initial effort by a salesperson to close a sale.

CHANNEL-MEMBER RELATIONSHIPS: Refers to the interconnectedness of members within a channel of distribution.

SUGGESTION SELLING: Selling additional goods or services to a customer.

PROMOTION PLAN: An outline of the marketing tools, strategies and resources that a company intends to use to promote product or service.

DATA COLLECTION INSTRUMENT: To gather information, marketers can use surveys, interviews, observations, federal and state government agencies, research companies, business publications and trade association publications.

MERCHANDISE APPROACH: When a salesperson first interacts with a consumer by making a comment or asks a question about a product that a consumer is showing interest in.

SELLING PROCESS: The step-by-step process in which a salesperson advises a customer about products that suit his/her needs, leading through the decision to make a purchase.

MARKETING INFO. MGMNT: The process and methods that generates, stores, analyzes and distributes information to promote good decision making for a business.

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.

ADVERTISING: A form of paid, nonpersonal promotion in which a company promotes an idea, good or service through a variety of media.

STANDARD: Used generally as an example or model to compare or measure the quality or performance of a practice or procedure.

DATA COLLECTION METHOD: The systematic process of gathering information.

PRE-APPROACH: Observing a consumer prior to interaction.

PRODUCT SERVICE MGMNT: The process of creating and changing the information about a company’s catalog of offerings.

SERVICE APPROACH: When a salesperson first interacts with a consumer by offering assistance, often in the form of an open-ended question like "How may I help you?”.

ADVERTISING ELEMENTS: The items found in an advertisement include Headline, Copy, Illustration and Signage.

CHANNELS OF DISTRIBUTION: Refers to the path a product takes from producer to the final consumer.

MARKETING: The process of creating, communicating, delivering and exchanging offerings that have value for customers to generate profits for a business.