DECA MARKETING CLUSTER EXAM BUSINESS COURSE 2026/2027 |
COMPLETE MASTER REVIEW | GRADED A+ | 100% CORRECT |
VERIFIED STUDY SET FOR GUARANTEED SUCCESS | HIGH-YIELD
CONCEPTS, MARKETING STRATEGIES & APPLICATION INSIGHTS
FOR EXCELLENCE
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.
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.
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.
COMPLETE MASTER REVIEW | GRADED A+ | 100% CORRECT |
VERIFIED STUDY SET FOR GUARANTEED SUCCESS | HIGH-YIELD
CONCEPTS, MARKETING STRATEGIES & APPLICATION INSIGHTS
FOR EXCELLENCE
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.
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.
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.
