Agent Intermediary that assists in the sale and/or promotion of goods and services but does
not take title to them.
Annual fee An amount of money charges on a yearly basis for the privilege of using certain
kinds of credit (ex. American Express card)
Annual percentage rate (APR) Tate of interes...
DECA principles latest 2023 100% pass
Agent ✔✔Intermediary that assists in the sale and/or promotion of goods and services but does
not take title to them.
Annual fee ✔✔An amount of money charges on a yearly basis for the privilege of using certain
kinds of credit (ex. American Express card)
Annual percentage rate (APR) ✔✔Tate of interest expressed as a yearly percentage
Approach stage ✔✔The beginning of a sale when the customer and salesperson first
communicate; also called the "opening" or "attention" step of a sale
Assets ✔✔Things of value owned by a business
Assortment ✔✔All the varieties of a product of products that a business carries in inventory
Authoritarian leader ✔✔Inflict duals who prefer to exercise a high degree of control over their
subordinates; tend to see themselves as a sole source of authority
,Branding ✔✔A basic decision in marketing products in which an organization uses a name,
phrase, design, symbol, or a combination of these to identify its products and distinguish them
from those of competitors
Business activities ✔✔The efforts of an organization that enable it to produce and/or distribute
goods or services
Business cycles ✔✔Periods of expansion and contraction in economic activities
Business/feasible analysis ✔✔Examining such factors as demand, costs, competition, capital
investment required and potential profit of a good or service to determine how it will fit into the
company's product mix.
Buyers ✔✔Individuals who have the responsibility for working with vendors and arranging the
terms of the sale
Buyers market ✔✔The best time for consumers to buy; characterized by large supply, small
demand and low prices
, Buying decision ✔✔A small decision that a customer makes which leads to the final decision to
buy a good or service
Buying motive ✔✔The reason or benefit that causes people to make a purchase to satisfy wants
and needs
Buying plan ✔✔An outline establishing guidelines for merchandise selection in terms of quality,
style, and price
Buying process ✔✔A series of sequential steps taken by industrial or retail buying personnel to
purchase goods or services
Capital ✔✔Assets of business (can include money or anything with money value i.e. Equipment)
Capital investment ✔✔Funds the business sets aside from its profits to be reinvested in the
business
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