DECA Flashcards
Formal Report
A formal report is an official report that contains detailed information, research, and data necessary to make business decisions.
scope
the combined objectives and requirements needed to complete a project.
Contraction
A period where economic output declines. Two consecutive quarters of contractions become recession.
Exchange Rate
Comparing the value of one currency to another
Sugging
sell or attempt to sell a product under the guise of conducting market research
Penetration Pricing
Penetration pricing is a pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth.
Credit
obtain goods or services before payment, based on the trust that payment will be made in the future
Defined Contribution Plan
type of retirement plan, employees contribute a fixed amount or a percentage of their paychecks. Ex. 401 (k)
Strategies
Developed during the marketing planning process.
Mode
the value that occurs most frequently in a given set of data.
Touchpoint
any way consumers can interact with a business organization
Data Mining
discovering patterns in large data sets
Externality
a side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved, such as the pollination of surrounding crops by bees kept for honey.
Broker
a person who buys and sells goods or assets for others
MRO
Maintenance, repair and operations