Deca marketing - Study guides, Class notes & Summaries

Exclusive Distribution - 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 - 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 - Business entities conducting business electronically. Streamline -...

DECA Marketing Cluster Exam Vocabulary well answered to pass

Marketing - ️️The dynamic activities that focus on the customer to generate a profitable exchange The Goal of Marketing - ️️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 - ️️constantly changing Customer - ️️an individual or group who buys products Target Market - ️️The specific group of customers whose needs a company will focus on ...

The purpose of legal procedure is to ensure that each party receives A. ongoing advice. B. consistent treatment. C. a reasonable verdict. D. an indictment. - correct answer b Wal-mart, Chevron Texaco, and Ford Motor Company sell stock in their companies. They are examples of which of the following types of business ownership: A. Franchisee B. Corporation C. Partnership D. Sole proprietorship - correct answer b Channels of distribution benefit businesses by A. lowering the pric...

DECA Marketing Test Questions with Correct Answers Marketing - Answer-"The dynamic activities that focus on the customer to generate a profitable exchange" (Page 5) The Goal of Marketing - 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" (Page 5) Dynamic - Answer-"constantly changing" (Page 5) Customer - Answer-"an individual or group who buys prod...

DECA identifies the program of student activities as are related to... - ANSWER-Business and Marketing instructional classes. Co-curricular organization providing hands on experience and networking that serves DECA members far beyond high school. National DECA head quarters is located in... - ANSWER-1908 Association Drive, Reston, Virginia 22091 Marketing Education classroom instruction and DECA activities... - ANSWER-Emphasize America's system of competition and free enterprise. Natio...

C - correct answer Which of the following is an example of a voluntary debtor-creditor relationship: A. Requiring specific information B. Receiving a monetary gift C. Obtaining a loan from a bank D. Owing punitive damages B - correct answer Every channel of distribution begins with the __________ and ends with the user or consumer. A. intermediary B. producer C. retailer D. agent D - correct answer How does implementing an electronic data interchange (EDI) system benefit businesses...

Exclusive Distribution - 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 - 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 - Answer-Business entities conducting business electronica...

Explain the concept of market and market identification. 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 marketing as products will not appeal to everyone. Marketers identify markets' common interests by classifying consumer's demographic, geographic and psychographic information. Examples of this information include age, inc...

price fixing - ANSWER-illegal collusion/communication between firms eliminating competition price discrimination - ANSWER-different prices for different customers marketing research - ANSWER-process of collecting information to determine consumer preference, market size, competition, public image, buying cycles marketing information system - ANSWER-set of procedures and methods regularly used for information about markets database marketing - ANSWER-customer relationship management (...