DECA MARKETING CLUSTER EXAM STUDY GUIDE
Exclusive Distribution - Answers -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 - Answers -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 - Answers -Business entities conducting business electronically.
Streamline - Answers -Make (an organization or system) more efficient and effective by
employing faster or simpler working methods.
Slotting Allowances / Slotting Fee - Answers -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 - Answers -The range of competing products and services from
which a consumer can choose.
Tariff - Answers -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 - Answers -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 - Answers -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 - Answers -A demand by a credit-card provider for a retailer to make good
the loss on a fraudulent or disputed transaction.
Scrambled Merchandising - Answers -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 - Answers -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 - Answers -Product
Price
Place
Promotion
Executive Summary - Answers -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 - Answers -A meeting to see how the project is progressing.
Brand Promise - Answers -Benefits and experiences that marketing campaigns try to
associate with a product in its current and prospective consumers' minds.
First-Line Managers - Answers -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 - Answers -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.
Exclusive Distribution - Answers -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 - Answers -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 - Answers -Business entities conducting business electronically.
Streamline - Answers -Make (an organization or system) more efficient and effective by
employing faster or simpler working methods.
Slotting Allowances / Slotting Fee - Answers -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 - Answers -The range of competing products and services from
which a consumer can choose.
Tariff - Answers -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 - Answers -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 - Answers -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 - Answers -A demand by a credit-card provider for a retailer to make good
the loss on a fraudulent or disputed transaction.
Scrambled Merchandising - Answers -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 - Answers -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 - Answers -Product
Price
Place
Promotion
Executive Summary - Answers -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 - Answers -A meeting to see how the project is progressing.
Brand Promise - Answers -Benefits and experiences that marketing campaigns try to
associate with a product in its current and prospective consumers' minds.
First-Line Managers - Answers -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 - Answers -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.
