DECA

Here are the key terms and their definitions from the questions you missed, which you can use to create flashcards:

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### 1. Strategic Management

- Definition: The process of defining long-term goals, setting the direction of the organization, and making decisions on strategies to achieve those goals.

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### 2. Market Research

- Definition: The process of collecting, analyzing, and interpreting information about a market, including information about the target market, competitors, and industry trends, to make informed business decisions.

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### 3. The Four Ps of Marketing

- Definition: The four core elements of a marketing strategy:

- Product: The goods or services offered by the business.

- Price: The amount customers must pay for the product.

- Place: The distribution channels used to deliver the product to customers.

- Promotion: The marketing activities used to inform customers and encourage them to buy the product.

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### 4. Fixed Costs

- Definition: Costs that do not change with the level of goods or services produced by the business. These costs remain constant regardless of production output, such as salaries or rent.

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### 5. Strategic Decision

- Definition: A high-level decision that has a long-term impact on the direction and goals of the business. It typically involves large-scale investments or changes, such as adopting new technology or entering new markets.

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These terms are important for understanding business management concepts, and making flashcards will help reinforce these ideas. Let me know if you need more terms or explanations!