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 ✔✔operating expenses of a business (excludes labor & materials; includes rent,
utilities, taxes, etc.)
professional development ✔✔acquiring skills and knowledge to not only advance your career,
but also for your own personal growth. (ex: college degrees, coursework, etc.)
Channel management ✔✔process where a company creates special programs for
selling/servicing customers within a specific channel
, Channel ✔✔set of activities needed to transfer the ownership of/move goods from the producer
to the consumer
ex: links producers to potential buyers; influences pricing strategy; allows better sales &
promotion
Simpler example: apple orchard-transporthttps://quizlet.com/create-set#add-row-processing
factory-packaging-final product sold-final product consumed
Channels of Distribution ✔✔Chains of businesses through which a service must pass in order to
reach the consumer. Includes wholesalers, retailers, distributors, the internet, etc. Direct channels
(shorter) allow consumers to buy goods from manufacturers, while indirect channels allow
product to be bought from a wholesaler. The longer the dist. channel, the less effective for
product manufacturer (aka less profit)
Internal Environment ✔✔factors, events, and conditions within a business that influence its
choices and activities, and the employees behavior
External (operating) Environment ✔✔Factors, events, and conditions surrounding a business
(not w/i) that influence it's actions and choices and determines opportunities and risks
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 ✔✔operating expenses of a business (excludes labor & materials; includes rent,
utilities, taxes, etc.)
professional development ✔✔acquiring skills and knowledge to not only advance your career,
but also for your own personal growth. (ex: college degrees, coursework, etc.)
Channel management ✔✔process where a company creates special programs for
selling/servicing customers within a specific channel
, Channel ✔✔set of activities needed to transfer the ownership of/move goods from the producer
to the consumer
ex: links producers to potential buyers; influences pricing strategy; allows better sales &
promotion
Simpler example: apple orchard-transporthttps://quizlet.com/create-set#add-row-processing
factory-packaging-final product sold-final product consumed
Channels of Distribution ✔✔Chains of businesses through which a service must pass in order to
reach the consumer. Includes wholesalers, retailers, distributors, the internet, etc. Direct channels
(shorter) allow consumers to buy goods from manufacturers, while indirect channels allow
product to be bought from a wholesaler. The longer the dist. channel, the less effective for
product manufacturer (aka less profit)
Internal Environment ✔✔factors, events, and conditions within a business that influence its
choices and activities, and the employees behavior
External (operating) Environment ✔✔Factors, events, and conditions surrounding a business
(not w/i) that influence it's actions and choices and determines opportunities and risks
