Marketing 9 weeks review, unit 1,2,3,ch37,38 Oct 2013

Terms in this set (70)

The projection for performance that reflects the plans objectives

Industrial market

This market includes all businesses that buy products to use in their operations

Having a product available at a certian time of the year/time of day

Involves raw material put together to make a product more useful

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

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

This is used when products have a universal appeal and few features to diffretait from competitors

communicates the goals objectives and strategies of a company's management team

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

Product, place, price, promotion

developing promoting and distributing products

the process of selling a product in the marketing place

Possesion utility

How customers will pay for the product

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

activities that occur outside traditional class time, but are directly related to classroom instruction

co-curricular student organization referred to as an association of marketing

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

Arkansas DECA's State Career Development Conference

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

people who share similar needs and wants and are capable of buying products

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

four basic marketing strategies known as the four P's of marketing: product, price, place (distribution), and promotion

marketing mix element that refers to the location and methods used to make products available to customers

the value of money, or its equivalent, placed on a good or service; the actual amount customers pay

anything offered to a market to satify needs and wants, including tangible goods or intangible services

any form of communication used to inform, persuade, or remind

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

money raised from within a company or from selling part of an owner's share

borrowed funds, from sources such as banks, friends, and suppliers, that must be repaid

something of calue that you pledge as payment for a loan in case of default

personal financial statement

summary of your current financial condition

anything of monetary value that is owned

debt you owe others

assets - liabilities

total of all sales

total of all sales after returns are subtracted

amount left after total expenses are subtracted from gross sales

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.

Allows the student the opportunity to participate in activities related to a career field

Single statement that defines exactly what you want your audience's response to be

A reasonable chance of achieving a certain goal.

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.

an ability or potential for learning a certain skill

the availability of jobs in any field.

Information about a job opening.

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

abrief summary; a short written account of one's education, working experience,qualifications for a job

process of visiting employers in person or calling them on the telephone

people you know that employers can contact for information about your job performance or character

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