Psychographic This market segmenting involves studies of consumers based on their
attitudes, lifestyles, and values.
Demographic This market segment refers to statistical data or information concerning a
person's age gender income level occupation, etc
Behavioral This type of market segment...
DECA Test Terms Latest 2023 Already
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Psychographic ✔✔This market segmenting involves studies of consumers based on their
attitudes, lifestyles, and values.
Demographic ✔✔This market segment refers to statistical data or information concerning a
person's age gender income level occupation, etc
Behavioral ✔✔This type of market segmentation is based on segmenting a market based on
segmenting a market based on rate of use, shopping patterns or product benefits
Geographic ✔✔This market segmentation refers to segmenting as market based on where people
live.
Marketing ✔✔A process of identifying human wants and needs, and developing a plan to meet
those wants and needs. Refers to everything involved with convincing an attendee to come to the
event. Also refers to providing information to support the exhibit sales function.
Approach ✔✔The first-face-to-face contact a sale person has with the customer
,Psychological Pricing ✔✔Pricing techniques that create an illusion for customers
Market Share ✔✔A firm's percentage of total sales generated by all competitors in a given
market
Sole Proprietorship ✔✔A business owned by one person
Suggestive Selling ✔✔Selling additional goods or services to the customer after the customer
has made a commitment to buy
Ethics ✔✔Based on knowing the difference between right and wrong
Decrease ✔✔According to the law of supply and demand, as the price increases the quantity
demanded will.
Boomerang ✔✔Bring the objection back to the customer.
,Superior Point ✔✔Admit disadvantages in certain products but then present superior points to
offset or compensate for them.
Third Party Demonstration ✔✔Use a previous customer or neutral person to give a testimonial
about the product show to operate a product
Substitution ✔✔Recommending a different product that would satisfy the customer's needs
Trade Surplus ✔✔When a country exports more than it imports.
Introduction ✔✔1st step of the product life cycle. company focuses it's efforts on promotion and
production
Decline ✔✔4th step of the product life cycle: Sales level off and competition increase
Maturity ✔✔3rd step of the product life cycle: Sales begin to fall and company looks to
modernize or alter the product
, Growth ✔✔2nd step of the product life cycle: Product is enjoying success shown by increased
sales and profits
Price ✔✔The value of money placed on a good or service
Headline ✔✔Attract readers, arouse interest, and get people to look at the illustration and copy.
Copy ✔✔Represents the selling message in the ad.
Illustration ✔✔Help expand on the copy by showing how the product works or how it is used
Signature ✔✔Aka logo, the identification symbol for a business
Slogan ✔✔A catch phrase or small group of words that are combined in a special way it identify
a product or company
Wholesaler ✔✔Buys, stores, and resells large quantities of goods
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