DECA TESTS COMPILATION BUNDLE

What year was our chapter founded? Correct Answer: 2003 What are the names of our three marketing advisors? Correct Answer: Mrs. Talbot, Mrs. Daniels, and Mrs. Simmons Name one of our international finalist Correct Answer: Reed Reynolds and Lydia Thompson What is our mission? Correct Ans...

Price Correct Answer: Money charged for product/service Price floor Correct Answer: Minimum price for product Price ceiling Correct Answer: Highest price for product External factors to consider Correct Answer: Competitions strategy and prices; marketing strategy, objectives, and mix; n...

Absence Correct Answer: Time off when an employee is not at work during their normal work period. Can be scheduled or unscheduled. Base Salary Correct Answer: a fixed amount of money paid to an employee by an employer in return for work performed. Base salary does not include benefits, bonuses ...

Explain the concept of productivity Correct Answer: - output per worker hour that is measured over a set period of time (week, month or year) Higher productivity increases profits. Businesses can increase their productivity by investing in new equipment, technology or facilities, providing addition...

Marketing Correct Answer: Communicating, creating, and delivering value Value (equation) Correct Answer: Benefits/cost What is value measured by? Correct Answer: Utility Utility Correct Answer: How well a customer can use a product 4 Types of Benefits Correct Answer: Form, time, pla...

Explain the nature of positive customer relations Correct Answer: Positive customer relations mindset is believing your customers deserve the very best, are your employers, deserve your focused attention, have the right to expect things of you, and have important problems and complaints. It yields ...

Economics Correct Answer: The social science that examines how societies use scarce resources to meet people's needs and wants Free Enterprise System/Capitalist System Correct Answer: People are free to own and control businesses; U.S. is a free enterprise economy Market Economy Correct Ans...

Time Management Correct Answer: a way to budget time so that all tasks can be accomplished Overhead costs Correct Answer: costs not directly related to the production or selling goods purchasing Correct Answer: preparing a plan and buying the goods that a business will use for production or...

Assess information needs Correct Answer: Relevance Improve Performance Make a difference Organizational problems Overall Goal (determine what training is relevant to your employees' jobs, determine what training will improve performance, determine if training will make a difference, disti...

Which of the following is one of the main goals of law in the United States? Correct Answer: To Provide Justice Which of the following statements is true regarding joint ventures? Correct Answer: Joint venture arrangements are usually short-term relationships Which type of hotel security sta...

Explain the concept of market and market identification. Correct Answer: A market is a group of consumers who have a common interest, need or want of a given good or service. This group of consumers also must be able to purchase the product. Identifying a market is an important activity in marketin...

Psychographic Correct Answer: This market segmenting involves studies of consumers based on their attitudes, lifestyles, and values. Demographic Correct Answer: This market segment refers to statistical data or information concerning a person's age gender income level occupation, etc Behavi...

Marketing Correct Answer: The dynamic activities that focus on the customer to generate a profitable exchange The Goal of Marketing Correct Answer: To meet customers' needs (goods and services you need) and wants (goods and services you do not need but would like to have) with products that cu...

Exclusive Distribution Correct Answer: Situation where suppliers and distributors enter into an exclusive agreement that only allows the named distributor to sell a specific product. Electronic Data Interchange (EDI) Systems Correct Answer: The electronic interchange of business information usi...