DECA Business Admin
Terms in this set (100)
Utilizing a video game to promote a product by integrating that product into the video game.
Laws that govern businesses and transactions between businesses.
A form of paid, non personal promotion in which a company promotes an idea, good or service through a variety of media.
An advertisement that runs along the top, bottom or sides of a website.
A study into an issue or topic that looks at the effect of one thing or variable on another.
Federal and state laws that regulate the sale and credit policies surrounding consumer sales.
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.
Continuing Education Courses
A broad term for post-secondary training- including formal education, webinars, seminars, and other training opportunities.
Creating a unique image or reputation for a product or company through the development of a name, brand mark and promotion.
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.
The ability to convey information to another effectively and efficiently.
To gather information, marketers can use surveys, interviews, observations, federal and state government agencies, research companies, business publications, and trade association publications.
A circumstance that puts a company in a favorable or superior business position.
A large advertisement - typically in a magazine or newspaper with large graphics. Also refers to online advertisements that may also include video and audio.
Develops from a viral marketing technique used to get consumers talking about a product.
The ability to identify, assess and influence one's own feelings and those of others.
Advertising that sends a promotional message to a targeted group of prospects and customers rather than a mass audience.
A document that lists goods purchased, price, terms of sale and total amount due.
The function of moving and selling goods from producer to consumer.
The process of creating, communicating, delivering and exchanging offerings that have value for customers to generate profits for a business.
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.
Marketing Information Management
The process and methods that generates, stores, analyzes and distributes information to promote good decision making for a business.
Identifying and reducing business expenses in order to increase profits.
An online form of advertising in which a new browser window opens to display an advertisement.
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.
Product Life Cycle
The stages that a product goes through in its life: Introduction, Growth, Maturity, and Decline.
External Business Correspondence
Communications and promotional efforts aimed at individuals or groups outside of an organization.
A promotion that involves a brand or product being mentioned or shown in a media outlet- such as television, movies or sporting events.
A commitment from a company that their product will perform as described.
The process of creating and changing the information about a company's catalog of offerings.
A variety of businesses who serve people who are away from home.
Choices made about advertising, personal selling, sales promotion and public relations used to communicate, inform and persuade potential and current customers.
All people who share the same wants and who have the ability to purchase a specific product or service.
Promotional activities that are designed to create a good image with the public.
The market planning process typically results in a marketing strategy that can be used to enhance sales for the business producing it.
Written questions, used in marketing research, to obtain information from respondents.
Internal Business Correspondence
Communication and promotional efforts aimed at individuals or groups within an organization.
A promise that is given to a consumer that a product will meet certain standards.
The process of gathering information, conducting analysis and presenting findings for a product or service to make marketing decisions.
An event at which businesses within the same or similar industries promote their products.
Marketing Research Brief
A written document that includes a market and strategic overview, background information, role of research, objective, suggested approach and research target, reporting requirements, timing, budget and existing research or other information related to the study.
Outlines the conditions of a sale, such as when payment is due or shipping method/cost.
Promotional messages designed for cell phones, smart phones, tablets or other handheld devices.
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...
An online form of advertising, in which the advertiser pays every time a potential customer clicks on their advertisement
Security Policies and Procedures
Consists of rules or regulations that protect a business and it's assets.
An announcement made by a business that is sent to the media.
Consists of software or technology that allows one to develop, distribute and manage social media.
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.
Used generally as an examples or model to compare or measure the quality or performance of a practice or procedure.
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.
The public perception of a business.
Process of improving capabilities of staff through access to education and training opportunities in the workplace, through outside organizations, or observing others perform the job.
Procedures established by a business relating to credit, collection, cash allocation and disbursements, accounts payable and invoicing.
Utilizing a current company's recognizable brand name to introduce a new or upgraded product.
Refers to the amount of money coming into and going out of a business.
The value placed on a good or service.
Also known as distribution, channel management deals with getting goods to consumers.
A qualitative marketing research technique where participants are asked to record activities, opinions, etc... in a journal or diary.
The way a business interacts with its customers in order to obtain new customers while maintaining the current customer base.
The costs or benefits that a particular event, policy change or situation has on the economy.
Channels of Distribution
Refers to the path a product takes from producer to the final consumer.
Refers to the number of buyers and sellers within a market.
A statistical study to identify patterns or trends in a marketing situation.
Jobs or tasks consisting of one or more elements performed typically in one location.
Customer information gathered by a business - such as name, address, phone and purchase history.
A package of promotional materials sent to the media to inform them about a product.
A qualitative marketing research technique in which data is gathered through individual or group conversations.
Specialized training, formal education or other sources of gaining skills necessary for on-the-job success and/or advancement.
Utilized in marketing research when mathematical quantities are used to interpret a set of data, providing a simple summary about the data.
The combination of advertising, personal selling, sales promotion and public relations used to accomplish an overall marketing strategy.
A wrong action that can not be attributed to a lack of knowledge.
A rule, often created by a regulatory agency pr government, that can be enforced by law.
Used to describe the quality of a product.
Processes implemented to ensure the safety of workers and customers to a business; including the process for handling on-the-job accidents/injuries.
Information management is the process of collecting and analyzing data that can be used in the strategic decision making process for a business.
A public event or activity, used in marketing to promote a business or product.
A formal document that specifies a company's activities for a determined amount of time.
Data that has been previously collected for non-marketing activity and is available for a business' use.
Includes the processes used to ensure a product is free of defects and/or meets a desired level of service.
All of the different products and/or services a company makes or sells.
Conveying a certain image to customers through the manipulation of physical elements within a business.
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.
All marketing activities other than advertising, public relations, and personal selling that are directed at a customer to increase sales.
An individual or organization with a product for sale.
All of the clients of a business.
Word-of-Mouth (WOM) Strategy
Utilizing oral or written recommendation by a satisfied customer to the prospective customers of a good or service to obtain sales.
Selling additional goods or services to a customer.
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.
Travelling for leisure, recreation or pleasure.
The methods a company uses to market it's products.
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.
Data gathered for the first time for a specific product, service and/or business.
The projection of future sales.
Refers to the marketing of a tangible good or a service- including, developing the product, identifying the target market, and determining price, promotion, and distribution of the product.
A small amount of cash kept on hand by a business to cover incidental expenses.
A statement that outlines the key points of a larger document, such as a marketing plan.
Used in marketing research in which people's actions are watched and recorded.
Evaluating an organization's financial statements to determine the profitability of the organization, a division within the organization or a specific event or project.
The process of a marketer in identifying the most profitable areas to offer a new product or service.