Deca marketing terms - Study guides, Class notes & Summaries

DECA Test Terms Latest 2023 Already Passed 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...

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 "atte...

DECA Marketing Latest 2023 Rated A Marketing the processes of communicating the value of and connecting a product or service to customers/clients/partners and society SWOT analysis A chart that businesses use to analyze and plan their companies by identifying their Strengths, Weaknesses, Opportunities, and Threats. Marketing Mix (4 P's of Marketing) Price, Place (distribution), Promotion, Product. These are parameters the marketer controls to best appeal to the target market. Overhead operat...

As a result of WWII, employment opportunities opened up for older women, married women, and women of color. True or False True Apprenticeships became less important as a result of the Industrial Revolution: True or False True Which of the following is not one of the phases of technology development? a. Introduction to mass production b. Miniaturization c. Influence of automation d. Computer networking Computer networking CTE has been known throughout its history by ...

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...

DECA Entrepreneurship Exam Questions and Answers Already Passed Sovereign Community A legal concept stating that the courts in a country represent the country's laws, and their decisions cannot be reversed by the decision of courts in other countries. Legal concept that affects foreign countries Eminent Domain the right of a government or its agent to take away private property for public use, with payment of compensation. Absolute privilege An absolute defense to an otherwise defamatory sta...

DECA Terms: Automotive Services 100% Pass Actual Cash Value The amount of money invested in the purchase and repairs of a used vehicle. Also known as ACV, this represents the amount of out of pocket expense a dealer or broker is "into" a car. Advanced Driver-Assistance Systems (ADAS) Systems developed to automate/adapt/enhance vehicle systems for safety and better driving. These safety features are designed to avoid collisions and accidents by offering technologies that alert the driver to po...

DECA Finance Exam Questions and Answers Already Graded A debtor-creditor relationship A debtor is someone who owes a financial obligation (a "debt") to another, known as the creditor. Interest must be charged. affinity fraud - Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. - The fraudsters who promote affinity scams frequently are - or pretend to be - members of the group. -...

DECA Business Administration Core Exam Questions and Answers Rated A Franchise a contractual agreement between a parent company and a franchisee to distribute goods and services Corporation a form of business ownership that is owned by stockholders who have purchased units or shares of the company Elastic Demand demand that changes according to changes in price Inelastic Demand demand that is not affected by changes in price. Unitary Demand when sales remain the same because changes in suppl...