MTDM DECA EXAM STUDY GUIDE
Agency relationship - Answers -The agent has authority to act on behalf of the
principal.
Ex. Josh is a small business owner who hires a lawyer to represent him in court. Josh is
the principal, the lawyer is the agent.
Representative - Answers -A person elected to represent the people
Which business is most likely to vioate antitrust laws if it insists on an exclusive dealing
agreement? - Answers -A firm with dominant market power. Dominant firms may be
held to a higher standard under antitrust laws b/c of their monopolistic potential. Small-
start ups are less likely to violate competitive laws, as are buyers who are being locked
into the agreement. Exclusive dealing only pertains to vertical business partners.
Vertical business partners - Answers -a partnership between a firm and its suppliers or
distributors.
Horizontal business partners - Answers -formed between partners operating in the
same business area. The firm partners with a competitive company to improve its
position against other competitors. Tends to be anti-competitive, hence anti-trust law
should be considered in this type of alliance.
cross linking - Answers -a strategy that can come in handy to get high search engine
rankings, by leveraging multiple domains owned by you
a method of adding links on your website to other websites with similar content or
interests
affiliate marketing - Answers -a marketing arrangement by which an organization refers
consumers to the selling company's website
affinity marketing - Answers -A method of selling goods and services by creating
partnerships with similar or compatible companies and brands. This increases brand
loyalty for both companies and products and heightens market awareness of both.
persuasive writing - Answers -writing that attempts to convince an audience to perform
a certain action, such as buying a product
responsive writing - Answers -writing used to respond to some prior communication
informative writing - Answers -writing used to transfer information to an audience
, passive voice writing - Answers -writing that transfers the object of the action into the
subject position
How can businesses reinforce brand promise after a sale? - Answers -By resolving any
problems or complaints
payroll taxes - Answers -taxes associated with being employed as well as being an
employer. employers must withhold certain taxes from other employee's paychecks.
ex. Melinda's employer withholds certain taxes, such as local income taxes, from her
paycheck.
excise taxes - Answers -taxes built into the purchase price of products
secondary dimensions of diversity - Answers -characteristics that may change at
various points throughout one's lifetime. religion, work experience, education level,
income level, language, family status
primary dimensions of diversity - Answers -inborn differences that cannot be changed
and affect a person's entire life.
collectivist culture - Answers -culture that is geared towards group accomplishments
testimonial laws - Answers -statements by users of a product, proclaiming the benefits
received from the use of that product
antitrust laws - Answers -regulations that prevent a person or company from taking any
actions to restrain free trade and competition in the marketplace
intellectual property laws - Answers -laws that protect intangible business assets
resulting from thinking processes
disclosure laws - Answers -laws that are designed to protect investors by requiring
businesses to disclose financial information that could be considered relevant to making
an investment decision
discovery-oriented decision problems - Answers -problems aimed at answering the
questions what or why
strategy-oriented decision problems - Answers -problems aimed at answering the
questions how or which
exploratory research - Answers -marketing research that collects info to help the
business define its issue, situation, or concern and decide the direction in which to go to
address. used when marketers don't have much to go on.
Agency relationship - Answers -The agent has authority to act on behalf of the
principal.
Ex. Josh is a small business owner who hires a lawyer to represent him in court. Josh is
the principal, the lawyer is the agent.
Representative - Answers -A person elected to represent the people
Which business is most likely to vioate antitrust laws if it insists on an exclusive dealing
agreement? - Answers -A firm with dominant market power. Dominant firms may be
held to a higher standard under antitrust laws b/c of their monopolistic potential. Small-
start ups are less likely to violate competitive laws, as are buyers who are being locked
into the agreement. Exclusive dealing only pertains to vertical business partners.
Vertical business partners - Answers -a partnership between a firm and its suppliers or
distributors.
Horizontal business partners - Answers -formed between partners operating in the
same business area. The firm partners with a competitive company to improve its
position against other competitors. Tends to be anti-competitive, hence anti-trust law
should be considered in this type of alliance.
cross linking - Answers -a strategy that can come in handy to get high search engine
rankings, by leveraging multiple domains owned by you
a method of adding links on your website to other websites with similar content or
interests
affiliate marketing - Answers -a marketing arrangement by which an organization refers
consumers to the selling company's website
affinity marketing - Answers -A method of selling goods and services by creating
partnerships with similar or compatible companies and brands. This increases brand
loyalty for both companies and products and heightens market awareness of both.
persuasive writing - Answers -writing that attempts to convince an audience to perform
a certain action, such as buying a product
responsive writing - Answers -writing used to respond to some prior communication
informative writing - Answers -writing used to transfer information to an audience
, passive voice writing - Answers -writing that transfers the object of the action into the
subject position
How can businesses reinforce brand promise after a sale? - Answers -By resolving any
problems or complaints
payroll taxes - Answers -taxes associated with being employed as well as being an
employer. employers must withhold certain taxes from other employee's paychecks.
ex. Melinda's employer withholds certain taxes, such as local income taxes, from her
paycheck.
excise taxes - Answers -taxes built into the purchase price of products
secondary dimensions of diversity - Answers -characteristics that may change at
various points throughout one's lifetime. religion, work experience, education level,
income level, language, family status
primary dimensions of diversity - Answers -inborn differences that cannot be changed
and affect a person's entire life.
collectivist culture - Answers -culture that is geared towards group accomplishments
testimonial laws - Answers -statements by users of a product, proclaiming the benefits
received from the use of that product
antitrust laws - Answers -regulations that prevent a person or company from taking any
actions to restrain free trade and competition in the marketplace
intellectual property laws - Answers -laws that protect intangible business assets
resulting from thinking processes
disclosure laws - Answers -laws that are designed to protect investors by requiring
businesses to disclose financial information that could be considered relevant to making
an investment decision
discovery-oriented decision problems - Answers -problems aimed at answering the
questions what or why
strategy-oriented decision problems - Answers -problems aimed at answering the
questions how or which
exploratory research - Answers -marketing research that collects info to help the
business define its issue, situation, or concern and decide the direction in which to go to
address. used when marketers don't have much to go on.
