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Marketing 9 weeks review, unit 1,2,3,ch37,38 Oct 2013
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Gravity
Terms in this set (70)
sales forcast
The projection for performance that reflects the plans objectives
Industrial market
This market includes all businesses that buy products to use in their operations
time utility
Having a product available at a certian time of the year/time of day
form utility
Involves raw material put together to make a product more useful
services
something a customer cant hold or touch
Performance standards
An expectation for performance that reflects the plans objective
Market segmentation
Breaking a market into even smaller groups
Demographics
Statistics that describe a population in terms of personal characteristics such as age, income, and background
Discretionary income
Money left after basic living nessisities such as food, shelter, and clothing
mass marketing
This is used when products have a universal appeal and few features to diffretait from competitors
marketing plan
communicates the goals objectives and strategies of a company's management team
Psychographics
grouping people with similar lifestyles,attitudes,values,and opinions
Customer profile
This lists information about the target market
Disposable income
money left over for taxes
marketing mix
Product, place, price, promotion
marketing
developing promoting and distributing products
exchange
the process of selling a product in the marketing place
Possesion utility
How customers will pay for the product
goods
something a customer can hold and touch
enviormental scan
analysis of outside influences that may impact an organization
marketing concept
idea that business should strive to satisfy customers needs and wants
situation analysis
study of external and internal factors that effect marketing strategies
Information utility
invoves comunicating with the customer
Co-curricular
activities that occur outside traditional class time, but are directly related to classroom instruction
DECA
co-curricular student organization referred to as an association of marketing
ICDC
DECA's International Career Development Conference
Leadership development
activity of providing opportunities for the development of leadership abilities
Marketing education program
Incorporates 3 types of learning experiences - marketing courses and marketing/business work experience and DECA student organization
Social intelligence
knowing how to conduct oneself in a variety of situations
SCDC
Arkansas DECA's State Career Development Conference
Teamwork
the ability to work well with others
DECA Dimensions
Official DECA magazine
Vocational understanding
learning about the requirements for succeeding in various careers
Social responsibility
concern about the consequences of actions on others
Market
people who share similar needs and wants and are capable of buying products
Marketing
creating and maintaining satisfying exchange relationships, referred to as the process of planning, pricing, promoting, selling and distributing products to satisfy customers' needs and wants
Marketing concept
focusing on satisfying customers' needs and wants in order to make a profit
Marketing mix
four basic marketing strategies known as the four P's of marketing: product, price, place (distribution), and promotion
Place
marketing mix element that refers to the location and methods used to make products available to customers
Price
the value of money, or its equivalent, placed on a good or service; the actual amount customers pay
Product
anything offered to a market to satify needs and wants, including tangible goods or intangible services
Promotion
any form of communication used to inform, persuade, or remind
Business Plan
proposal that outlines a strategy to turn a business idea into a reality
Buying Behavior
process individuals use to decide what they will buy, where they will buy it, and from whom they will buy it.
Job Description
written statement listing the requirements of a particular job and skills needed
Equity captial
money raised from within a company or from selling part of an owner's share
Debt Capital
borrowed funds, from sources such as banks, friends, and suppliers, that must be repaid
Collateral
something of calue that you pledge as payment for a loan in case of default
personal financial statement
summary of your current financial condition
asset
anything of monetary value that is owned
liability
debt you owe others
net worth
assets - liabilities
gross sales
total of all sales
net sales
total of all sales after returns are subtracted
net income
amount left after total expenses are subtracted from gross sales
interest
money paid for the use of money borrowed or invested
career consultation
informal interview with a professional who works in a career that interest you.
internship
Allows the student the opportunity to participate in activities related to a career field
specific goal
Single statement that defines exactly what you want your audience's response to be
realistic goal
A reasonable chance of achieving a certain goal.
values
the beliefs and principles that guide the way a person lives
lifestyle goals
ways in which a person wants to spend his or her future time, energy.
aptitude
an ability or potential for learning a certain skill
career outlook
the availability of jobs in any field.
job lead
Information about a job opening.
networking
process of finding out about potential clients or job leads from friends, business contacts, acquaintances
public employment
employment agencies supported by the state that offer free services to both job applicants / employers
resume
abrief summary; a short written account of one's education, working experience,qualifications for a job
direct contact
process of visiting employers in person or calling them on the telephone
references
people you know that employers can contact for information about your job performance or character
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