DECA HIGHLIGHTED TERMS

Question 1

Ad layout

Answer 1

A sketch that shows the general arrangement and appearance of a company’s finished ad.

Question 2

Advertising campaign

Answer 2

A group of advertisements, commercials, and related promotional materials and activities that are designed as a coordinated advertising plan to meet the specific goals of a company.

Question 3

Audience

Answer 3

The number of homes or people exposed to an ad.

Question 4

Brand

Answer 4

A name, term, design, symbol, or combination of these elements that identifies a business , product, or service, and sets it apart from its competitors.

Question 5

Brand licensing

Answer 5

A legal authorization by a brand owner to allow the company (the licensee) to use its brand, brand mark, or trade character, for a fee.

Question 6

Break-even point

Answer 6

The point at which sales revenue equals the costs and expenses of making and distributing a product.

Question 7

Brick-and-Mortar retailer

Answer 7

A traditional retailer who sells goods to customers from a physical store.

Question 8

Bundle pricing

Answer 8

Pricing method in which a company offers several complementary, or corresponding, products in a package that is sold at a single price.

Question 9

Buying behavior

Answer 9

The process that individuals use to decide what they will buy, where they will buy it, and from whom will they buy it.

Question 10

Buying signals

Answer 10

Things customers say or do to indicate a readiness to buy.

Question 11

Channel of distribution:

Answer 11

The path a product takes from its producer or manufacturer to the final user.

Question 12

Co-branding

Answer 12

A strategy that combines one or more brands in the manufacture of a product or in the delivery of a service.

Question 13

Consumer market

Answer 13

Consumers who purchase goods and services for personal use.

Question 14

Consumer promotions

Answer 14

Sales Strategies that encourage customers and prospects to buy a product or service.

Question 15

Customer benefit:

Answer 15

Advantage or personal satisfaction a customer will get from a good or service.

Question 16

Customer benefit:

Answer 16

Advantage or personal satisfaction a customer will get from a good or service.

Question 17

Customer profile

Answer 17

Information about the target market, such as age,gender, income level, marital status, ethnic background, geographic residence, attitudes, lifestyle, and behavior.

Question 18

Demand elasticity

Answer 18

The degree to which demand for a product is affected by its price.

Question 19

Demographics

Answer 19

Statistics that describe a population in terms of personal characteristics, such as age, gender,income, marital status, and ethnic background.

Question 20

Direct distribution

Answer 20

A channel of distribution occurs when the producer sells goods or services directly to the customer with no intermediaries.

Question 21

Direct marketing

Answer 21

A type of advertising that sends a promotional message to a targeted group of prospects and customers rather than to a mass audience.

Question 22

Discretionary Income

Answer 22

The money left after paying for basic necessities, such as food, shelter, and clothing.

Question 23

Display

Answer 23

The visual and artistic aspects of presenting a product or service to a target group of customers to encourage a purchase.

Question 24

Distribution center

Answer 24

A warehouse designed to speed delivery of goods and to minimize storage costs.

Question 25

Emotional motive

Answer 25

A feeling expressed by a customer through association with the product.

Question 26

E-tailing

Answer 26

Online retailing that involves retailers selling products over the internet to customers.

Question 27

Everyday low prices (EDLP)

Answer 27

Low prices set on a consistent basis with no intention of raising them or offering discounts in the future.

Question 28

Extended product feature

Answer 28

Intangible attribute related to the sale of a product that customers find important.

Question 29

Factors of production (FOP’s)

Answer 29

Resources that are land, labor, capital, and entrepreneurship.

Question 30

Feature-benefit selling

Answer 30

Matching the characteristics of a product to a customer’s wants and needs.

Question 31

Franchise

Answer 31

A legal agreement to sell a parent company’s product or services in a designated geographic area.

Question 32

Green marketing

Answer 32

When companies engage in the production and promotion of environmentally safe products.

Question 33

Indirect distribution

Answer 33

A channel of distribution that involves one or more intermediaries.

Question 34

Institutional advertising

Answer 34

Advertising designed to create a favorable image for a company and foster goodwill in the marketplace.

Question 35

Intermediary

Answer 35

Middleman business involved in sales transactions that move products from manufacturer to the final user.

Question 36

Internet advertising

Answer 36

The form of advertising that uses either email or the World Wide Web

Question 37

Inventory

Answer 37

Amount of merchandise on hand at any particular time, including raw materials, parts from suppliers,manufactured sub assemblies, work-in-process,packing materials, or finished goods.

Question 38

Inventory management

Answer 38

The process of buying and storing materials and products while controlling costs for ordering, shipping, handling, and storage.

Question 39

Inventory turnover

Answer 39

The number of times the average inventory has been sold and replaced in a given period of time.

Question 40

Licensing

Answer 40

Letting another company, or license, use a trademark,patent, special formula, company name, or some other intellectual property for a fee or royalty.

Question 41

Limited liability company (LLC)

Answer 41

A relatively new form of business organization that is a hybrid of a partnership and a corporation.

Question 42

Loyalty marketing program

Answer 42

A marketing program that rewards customers by offering incentives for repeat purchases,such as frequent flyers.

Question 43

Market

Answer 43

All the people who have similar needs and wants and who have the ability to purchase the product.