DECA Marketing Cluster
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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 conducting business
electronically.
Streamline -CORRECT ANSWER Make (an organization or system) more efficient and
effective by employing faster or simpler working methods.
Slotting Allowances / Slotting Fee -CORRECT ANSWER A fee charged to produce
companies or manufacturers by supermarket distributors (retailers) in order to have their
product placed on their shelves. Known as Pay-to-Stay.
Consumer Choice -CORRECT ANSWER The range of competing products and
services from which a consumer can choose.
Tariff -CORRECT ANSWER A tax or duty to be paid on a particular class of imports or
exports. OR. Fix the price of (something) according to a tariff.
Horizontal Conflict -CORRECT ANSWER Refers to a disagreement among two or more
channel members at the same level. For example, suppose a toy manufacturer has
deals with two wholesalers, each contracted to sell products to retailers in different
regions. If one wholesaler decides to branch its operations into the other wholesaler's
region, a conflict will result.
Vertical Conflict -CORRECT ANSWER A disagreement between two channel members
on consecutive levels. For example, if the toy manufacturer discovers its products are
arriving at retail stores later than scheduled, a conflict might develop between the
manufacturer and the wholesaler responsible for shipping to retailers.
Chargeback -CORRECT ANSWER A demand by a credit-card provider for a retailer to
make good the loss on a fraudulent or disputed transaction.
, Scrambled Merchandising -CORRECT ANSWER When a shop sells goods that are
usually sold by another type of shop, in order to increase profits or attract new
customers.
Direct Selling -CORRECT ANSWER The marketing and selling of products directly to
consumers away from a fixed retail location. Peddling is the oldest form of direct selling.
Modern direct selling includes sales made through the party plan, one-on-one
demonstrations, and other personal contact arrangements as well as internet sales.
4 P's of Marketing -CORRECT ANSWER Product
Price
Place
Promotion
Executive Summary -CORRECT ANSWER Sometimes known as a management
summary, is a short document or section of a document, produced for business
purposes, that summarizes a longer report or proposal or a group of related reports in
such a way that readers can rapidly become acquainted with a large body of material
without having to read it all.
Project Status Meeting -CORRECT ANSWER A meeting to see how the project is
progressing.
Brand Promise -CORRECT ANSWER Benefits and experiences that marketing
campaigns try to associate with a product in its current and prospective consumers'
minds.
First-Line Managers -CORRECT ANSWER Term describing the management level of a
company employee directly above non-managerial workers. First line managers
generally supervise production on line tasks in the manufacturing business, and
typically consist of positions such as foreman, section head and shift boss. First line
managers are an important source of information about worker satisfaction for higher
management to take into account in their organizational planning process.
Maslow's Hierarchy of Needs -CORRECT ANSWER A description of the needs that
motivate human behavior. In 1943, Abraham Maslow proposed five different kinds of
human needs, beginning with the most basic: survival. Physiological needs, such as
food and shelter, are followed by needs related to safety. Next, there are needs of love
and belonging. Fourth, humans have needs of esteem, such as the need for being
respected. The final need in the hierarchy is the need for self-actualization (fulfilling
one's potential). The hierarchy suggests that basic needs must be met prior to less
basic needs; for example, a starving person will seek food before self-actualization.
Marketing -CORRECT ANSWER The action or business of promoting and selling
products or services, including market research and advertising.
Exam||Newest Exam Update||100%
Sure Pass
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 conducting business
electronically.
Streamline -CORRECT ANSWER Make (an organization or system) more efficient and
effective by employing faster or simpler working methods.
Slotting Allowances / Slotting Fee -CORRECT ANSWER A fee charged to produce
companies or manufacturers by supermarket distributors (retailers) in order to have their
product placed on their shelves. Known as Pay-to-Stay.
Consumer Choice -CORRECT ANSWER The range of competing products and
services from which a consumer can choose.
Tariff -CORRECT ANSWER A tax or duty to be paid on a particular class of imports or
exports. OR. Fix the price of (something) according to a tariff.
Horizontal Conflict -CORRECT ANSWER Refers to a disagreement among two or more
channel members at the same level. For example, suppose a toy manufacturer has
deals with two wholesalers, each contracted to sell products to retailers in different
regions. If one wholesaler decides to branch its operations into the other wholesaler's
region, a conflict will result.
Vertical Conflict -CORRECT ANSWER A disagreement between two channel members
on consecutive levels. For example, if the toy manufacturer discovers its products are
arriving at retail stores later than scheduled, a conflict might develop between the
manufacturer and the wholesaler responsible for shipping to retailers.
Chargeback -CORRECT ANSWER A demand by a credit-card provider for a retailer to
make good the loss on a fraudulent or disputed transaction.
, Scrambled Merchandising -CORRECT ANSWER When a shop sells goods that are
usually sold by another type of shop, in order to increase profits or attract new
customers.
Direct Selling -CORRECT ANSWER The marketing and selling of products directly to
consumers away from a fixed retail location. Peddling is the oldest form of direct selling.
Modern direct selling includes sales made through the party plan, one-on-one
demonstrations, and other personal contact arrangements as well as internet sales.
4 P's of Marketing -CORRECT ANSWER Product
Price
Place
Promotion
Executive Summary -CORRECT ANSWER Sometimes known as a management
summary, is a short document or section of a document, produced for business
purposes, that summarizes a longer report or proposal or a group of related reports in
such a way that readers can rapidly become acquainted with a large body of material
without having to read it all.
Project Status Meeting -CORRECT ANSWER A meeting to see how the project is
progressing.
Brand Promise -CORRECT ANSWER Benefits and experiences that marketing
campaigns try to associate with a product in its current and prospective consumers'
minds.
First-Line Managers -CORRECT ANSWER Term describing the management level of a
company employee directly above non-managerial workers. First line managers
generally supervise production on line tasks in the manufacturing business, and
typically consist of positions such as foreman, section head and shift boss. First line
managers are an important source of information about worker satisfaction for higher
management to take into account in their organizational planning process.
Maslow's Hierarchy of Needs -CORRECT ANSWER A description of the needs that
motivate human behavior. In 1943, Abraham Maslow proposed five different kinds of
human needs, beginning with the most basic: survival. Physiological needs, such as
food and shelter, are followed by needs related to safety. Next, there are needs of love
and belonging. Fourth, humans have needs of esteem, such as the need for being
respected. The final need in the hierarchy is the need for self-actualization (fulfilling
one's potential). The hierarchy suggests that basic needs must be met prior to less
basic needs; for example, a starving person will seek food before self-actualization.
Marketing -CORRECT ANSWER The action or business of promoting and selling
products or services, including market research and advertising.
