DECA Marketing cluster exam| 73 QUESTIONS| WITH COMPLETE SOLUTIONS

Exclusive Distribution Correct Answer: 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 Correct Answer: 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 Correct Answer: Business entities conducting business electronically. Streamline Correct Answer: Make (an organization or system) more efficient and effective by employing faster or simpler working methods. Slotting Allowances / Slotting Fee Correct Answer: 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 Correct Answer: The range of competing products and services from which a consumer can choose. Tariff Correct Answer: 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 Correct Answer: 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 Correct Answer: 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 Correct Answer: A demand by a credit-card provider for a retailer to make good the loss on a fraudulent or disputed transaction. Scrambled Merchandising Correct Answer: 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 Correct Answer: 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.