DECA Hospitality and Tourism Cluster - Performance
Indicators (LAMINATED TRI-FOLD) || 100% Errorless
Solutions.
CHANNEL MANAGEMENT: Explain the nature and scope of channel management. correct
answers The nature of channel management is understanding how products end up in consumers
(or end users) hands. this can include identifying methods of transportation a business can use,
deciding to use a warehouse for inventory control, and understanding each member in the
distribution channel for your business or products.
CHANNEL MANAGEMENT: Explain the nature of channels of distribution. correct answers A
channel of distribution is the journey a product takes from producer / manufacturer to end user.
A product can take a variety of paths to an end user, depending on how many channel members
are involved. The channel of distribution can include the following: manufacturers, wholesalers,
retailers, agents and users (consumer and industrial).
CHANNEL MANAGEMENT: Coordinate channel management with other marketing activities.
correct answers Channel members have the common goal of satisfying the customer. To make
this happen, channel members must work together. Channel members can assist by making sure
it is easy to place an order and deliver products quickly. As a distribution plan is developed for a
product, other marketing activities are included. promotion of a product is launches so that
consumer are aware o the product and know where to find it and retailers set prices for what is
available.
MARKETING: Identify company's unique selling proposition (USP). correct answers To
identify a company's unique selling proposition, it is important to understand the benefits ofa
good or service and how those benefits differentiate the products from the competition. Once
understood, this criteria is essential to developing effective promotions and/or advertising
campaign.
MARKETING: Identify internal and external service standards. correct answers A business is
responsible for identifying its requirements for providing customer service. Internal service
standards refer to the expectations set by the business for how employees will be created in the
workplace which extends to how they re compensated and engaged in corporate decision
making. External service standards refer to how the end user is treated to ensure customer
satisfaction.
MARKETING-INFORMATION MANAGEMENT: Explain the nature and scope of the
marketing information management function. correct answers is the process and methods that
generates, stores, analyzes and distributes information to promote good decision making for a
business. This information is essential for creating an effective marketing plan. The business has
a responsibility to protect the data collected.
, MARKETING-INFORMATION MANAGEMENT: Describe the regulation of marketing-
information management. correct answers Businesses have a responsibility to manage
information that they have collected regarding their customers, trends and competition. Recent
legislation includes identify Theft and Assumption Deterrence Act of 1998 and the Gramm-
leach-Bliley Act of 1999 provide legal ramifications if a consumer's privacy is not maintained as
specified by federal law. To accomplish these goals from a business perspective, an Enterprise
Information System (EIS) an be used to provide a central database.
MARKETING-INFORMATION MANAGEMENT: Describe options businesses use to obtain
marketing-research data. correct answers To gather market research data, a business has a variety
of options including primary and secondary data.
Primary research gathers data for the first time for a specific product, service and/or business.
Secondary research gathers data that has been previously collected for non marketing activity
and is available for a business' use. Additionally, a company can sue data gathered from
customer loyalty plans, cookies in an online environment and data mining software.
MARKETING-INFORMATION MANAGEMENT: Explain characteristics of effective data-
collection instruments. correct answers Two main characteristics of effective data collection are
validity and reliability. Validity means that the research questions measure the intended subject
area. Reliability means that the respondents to the questions should interpret the questions in the
same way. Data collection instruments should be clear and easy to understand and properly
administered to develop valid and reliable dta.
MARKET PLANNING: Explain the concept of marketing strategies. correct answers They
identify a target market and marketing mix choices that a business will sue. To do this, a
business must understand the wants and needs of the consumer and objectives of the overall
marketing plan for the product or service. The position that the business and/or product holds in
the marketplace will determine the marketing strategy and focus on the advantages that the
business and/or product has over the competition.
MARKET PLANNING: Explain the concept of market and market identification. correct
answers A market is a group of people who share the same wants and who have the ability to
purchase a specific product or service. market identification is the process of a marketer in
identifying the most profitable areas to offer a new product or service. To determine these
groups, a marketer uses three forms of data: demographic, geographic and psychographic.
Demographic data defines a population in quantitative terms like age, gender, education, or
occupation. Geographic data identifies where potential consumers live. Psychographic data
identifies common interests, attitudes, and lifestyles of potential consumers.
MARKET PLANNING: Explain the nature of marketing plans. correct answers The role of a
marketing plan is to provide an overall view of a company's marketing actions for a period of
time. This includes understanding the goals of the company, research of the product or service,
how a product will be advertised and sold, responsibilities of the product team, budgets, and
timelines so that performance can be managed over time.
Indicators (LAMINATED TRI-FOLD) || 100% Errorless
Solutions.
CHANNEL MANAGEMENT: Explain the nature and scope of channel management. correct
answers The nature of channel management is understanding how products end up in consumers
(or end users) hands. this can include identifying methods of transportation a business can use,
deciding to use a warehouse for inventory control, and understanding each member in the
distribution channel for your business or products.
CHANNEL MANAGEMENT: Explain the nature of channels of distribution. correct answers A
channel of distribution is the journey a product takes from producer / manufacturer to end user.
A product can take a variety of paths to an end user, depending on how many channel members
are involved. The channel of distribution can include the following: manufacturers, wholesalers,
retailers, agents and users (consumer and industrial).
CHANNEL MANAGEMENT: Coordinate channel management with other marketing activities.
correct answers Channel members have the common goal of satisfying the customer. To make
this happen, channel members must work together. Channel members can assist by making sure
it is easy to place an order and deliver products quickly. As a distribution plan is developed for a
product, other marketing activities are included. promotion of a product is launches so that
consumer are aware o the product and know where to find it and retailers set prices for what is
available.
MARKETING: Identify company's unique selling proposition (USP). correct answers To
identify a company's unique selling proposition, it is important to understand the benefits ofa
good or service and how those benefits differentiate the products from the competition. Once
understood, this criteria is essential to developing effective promotions and/or advertising
campaign.
MARKETING: Identify internal and external service standards. correct answers A business is
responsible for identifying its requirements for providing customer service. Internal service
standards refer to the expectations set by the business for how employees will be created in the
workplace which extends to how they re compensated and engaged in corporate decision
making. External service standards refer to how the end user is treated to ensure customer
satisfaction.
MARKETING-INFORMATION MANAGEMENT: Explain the nature and scope of the
marketing information management function. correct answers is the process and methods that
generates, stores, analyzes and distributes information to promote good decision making for a
business. This information is essential for creating an effective marketing plan. The business has
a responsibility to protect the data collected.
, MARKETING-INFORMATION MANAGEMENT: Describe the regulation of marketing-
information management. correct answers Businesses have a responsibility to manage
information that they have collected regarding their customers, trends and competition. Recent
legislation includes identify Theft and Assumption Deterrence Act of 1998 and the Gramm-
leach-Bliley Act of 1999 provide legal ramifications if a consumer's privacy is not maintained as
specified by federal law. To accomplish these goals from a business perspective, an Enterprise
Information System (EIS) an be used to provide a central database.
MARKETING-INFORMATION MANAGEMENT: Describe options businesses use to obtain
marketing-research data. correct answers To gather market research data, a business has a variety
of options including primary and secondary data.
Primary research gathers data for the first time for a specific product, service and/or business.
Secondary research gathers data that has been previously collected for non marketing activity
and is available for a business' use. Additionally, a company can sue data gathered from
customer loyalty plans, cookies in an online environment and data mining software.
MARKETING-INFORMATION MANAGEMENT: Explain characteristics of effective data-
collection instruments. correct answers Two main characteristics of effective data collection are
validity and reliability. Validity means that the research questions measure the intended subject
area. Reliability means that the respondents to the questions should interpret the questions in the
same way. Data collection instruments should be clear and easy to understand and properly
administered to develop valid and reliable dta.
MARKET PLANNING: Explain the concept of marketing strategies. correct answers They
identify a target market and marketing mix choices that a business will sue. To do this, a
business must understand the wants and needs of the consumer and objectives of the overall
marketing plan for the product or service. The position that the business and/or product holds in
the marketplace will determine the marketing strategy and focus on the advantages that the
business and/or product has over the competition.
MARKET PLANNING: Explain the concept of market and market identification. correct
answers A market is a group of people who share the same wants and who have the ability to
purchase a specific product or service. market identification is the process of a marketer in
identifying the most profitable areas to offer a new product or service. To determine these
groups, a marketer uses three forms of data: demographic, geographic and psychographic.
Demographic data defines a population in quantitative terms like age, gender, education, or
occupation. Geographic data identifies where potential consumers live. Psychographic data
identifies common interests, attitudes, and lifestyles of potential consumers.
MARKET PLANNING: Explain the nature of marketing plans. correct answers The role of a
marketing plan is to provide an overall view of a company's marketing actions for a period of
time. This includes understanding the goals of the company, research of the product or service,
how a product will be advertised and sold, responsibilities of the product team, budgets, and
timelines so that performance can be managed over time.
