DECA Test Terms 2023 with complete solution;From;
Marketing, Sports and entertainment marketing,
Customer Service, Business Management, Business law,
Business Communications, and DECA practice tests
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
Closing the sale
Obtaining positive agreement from the customer to buy.
The Marketing Mix
Product, Place, Price, Promotion
Secondary Research
Government records, internet sources, Business publications, Focus groups
Primary Research
Interview, survey, observation, Focus Group
Sample
A part of target population that is assumed to represent the entire population
Price Fixing
An illegal activity occurs when competitors agree on setting prices
Approaching the Customer
Step 1 of the selling process
Determine Needs
Step 2 of the selling process
, Presenting the Product
step 3 of the selling process
Overcoming Objections
Step 4 of the selling process
Suggestion Selling
Step 6 of the selling process
close the sale
step 5 of the selling process
Relationship Building
Step 7 of the selling process
Marketing Research
Used to obtain information about the preferences, options, habit, trends, and plans of
current and potential customers
Product/ Service Management
Obtaining, developing, maintaining, and improving a product or product mix in response
to marketing opportunities
Financing
Getting the money that is necessary to set-up and run a business
Marketing Information Management
Gather, storing, and analyzing data to determine customers habits and attitudes
Distribution
Physically moving and storing goods
Pricing
Determining how much to charge for goods and services
Promotion
Informing persuading or reminding potential customers about a business' products/
services
Selling
Determining customer needs and wants and responding through planned, personalized,
communication
Nonverbal Communications
Expression yourself through body language such as facial expressions, hand motions,
and eye movement.
Promotional Mix
A carefully planned combination of techniques designed to persuade customers to
purchase and support a business' products
Direct Close
Closing technique in which salesperson asks for the sale.
Image
The public's view of a business.
Price Lining
A pricing technique in which a store offers all merchandise in a given category at certain
prices, such as $10 and $20
Bundle Pricing
Offering several complimentary products in a package that is sold at a single price
Prestige Pricing
Marketing, Sports and entertainment marketing,
Customer Service, Business Management, Business law,
Business Communications, and DECA practice tests
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
Closing the sale
Obtaining positive agreement from the customer to buy.
The Marketing Mix
Product, Place, Price, Promotion
Secondary Research
Government records, internet sources, Business publications, Focus groups
Primary Research
Interview, survey, observation, Focus Group
Sample
A part of target population that is assumed to represent the entire population
Price Fixing
An illegal activity occurs when competitors agree on setting prices
Approaching the Customer
Step 1 of the selling process
Determine Needs
Step 2 of the selling process
, Presenting the Product
step 3 of the selling process
Overcoming Objections
Step 4 of the selling process
Suggestion Selling
Step 6 of the selling process
close the sale
step 5 of the selling process
Relationship Building
Step 7 of the selling process
Marketing Research
Used to obtain information about the preferences, options, habit, trends, and plans of
current and potential customers
Product/ Service Management
Obtaining, developing, maintaining, and improving a product or product mix in response
to marketing opportunities
Financing
Getting the money that is necessary to set-up and run a business
Marketing Information Management
Gather, storing, and analyzing data to determine customers habits and attitudes
Distribution
Physically moving and storing goods
Pricing
Determining how much to charge for goods and services
Promotion
Informing persuading or reminding potential customers about a business' products/
services
Selling
Determining customer needs and wants and responding through planned, personalized,
communication
Nonverbal Communications
Expression yourself through body language such as facial expressions, hand motions,
and eye movement.
Promotional Mix
A carefully planned combination of techniques designed to persuade customers to
purchase and support a business' products
Direct Close
Closing technique in which salesperson asks for the sale.
Image
The public's view of a business.
Price Lining
A pricing technique in which a store offers all merchandise in a given category at certain
prices, such as $10 and $20
Bundle Pricing
Offering several complimentary products in a package that is sold at a single price
Prestige Pricing
