DECA

Define SBA and list 3 ways they help small business Correct Answer: The small business administration provides federal aid to small businesses. This is through education, grants, and loan guarantees. 2 reasons why Entrepreneurship is growing Correct Answer: Corporate downsizing, need for dual incomes, global economy, government support, technology and the internet How is outsourcing leading to new industries Correct Answer: It creates the opportunity to create a company that can preform...

Marketing Correct Answer: - management process through which goods and services move from concept to the customer 4 P's of Marketing Correct Answer: 1) Product: identification, selection and development 2) Price 3) Place: selection of a distribution channel to reach the customers 4) Promotion:development and implementation of a promotional strategy Brand Identity Correct Answer: - visible elements of a brand (colors, design, logotype, name, symbol) that together identify and d...

Franchise Correct Answer: a contractual agreement between a parent company and a franchisee to distribute goods and services Corporation Correct Answer: a form of business ownership that is owned by stockholders who have purchased units or shares of the company Elastic Demand Correct Answer: demand that changes according to changes in price Inelastic Demand Correct Answer: demand that is not affected by changes in price. Unitary Demand Correct Answer: when sales remain the sa...

A developer proposed a technological improvement to a product you sell. In his proposal, he tells you this improvement betters the product because it makes it safer for the customer to use it. Because of this, customer injuries should decrease. He tells you the value added to the product because of this new technology is substantial. What question should you ask to further make sure this technological advancement makes your product better? Correct Answer: c. "What do our customers value?" ...

DECA is international and has students from other countries like Correct Answer: Canada, China, Germany, Guam, Hong Kong, Korea, Mexico, and Puerto Rico Guiding Principles are designed to Correct Answer: explain how DECA fulfills our mission in two statements First statement of guiding principles Correct Answer: addresses what we do Second statement of guiding principles Correct Answer: addresses the results DECA's logo has four inner points which represent Correct Answer: how ...

consumer questionnaires, surveys, and direct interviews are all forms of data collection used in the____function of marketing. Correct Answer: Information management A traditional ordering system typically begins with Correct Answer: The business gathering sales data and inventory information what type of accounting method is your company using if it records sales as they happen, even if no money changes hands then? Correct Answer: Accrual the bottom line on a business's profit-and-...

1. the business agreement under which a business distributes the goods or services of a parent company is called a. partnership b. corporation c. franchise d. proprietorship Correct Answer: c 2. what is an effective technique for employees to use to extract relevant information from written materials? a. develop a rough outline b. ask frequent questions c. take notes while reading d. skim through chapter titles Correct Answer: c 3. what information should employees avoid sharing ...

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 using a standardized format; a process which allows one company to send information to another company electronically rather than with paper. Trading Partners Correct Answer: Business entities conduc...

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 customers can and will buy Dynamic Correct Answer: constantly changing Customer Correct Answer: an individual or group who buys products Target Market Correct Answer: The specific group of c...

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 Behavioral Correct Answer: 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 Correct An...