DECA PMK STUDY GUIDE
Marketing - Answer- Communicating, creating, and delivering value
Value (equation) - Answer- Benefits/cost
What is value measured by? - Answer- Utility
Utility - Answer- How well a customer can use a product
4 Types of Benefits - Answer- Form, time, place, posession
Benefit: Form - Answer- Ability of use
Benefit: Time - Answer- Timelines of purchase
Benefit: Place - Answer- Convenience of purchase location
Benefit: Posession - Answer- Sentiment of ownership
Post Purchase Evaluation - Answer- Ensuring the benefit of the customer after a purchase
Data Warehousing - Answer- Technology for developing customer retention and relationships
Market Segmentation - Answer- Dividing a market of potential customers into segments based characteristics
Corporate Culture - Answer- Shared attitudes of members of a corporation
Marketing Mix - Answer- Product, Price, Place, Promotion
Promotional Mix - Answer- Advertising, publicity, sales promotion, direct marketing, personal selling.
PPE (Post Purchase Evaluation) - Answer- A customer evaluates if they are satisfied after making a purchase
Purchase Stage 1 - Answer- A customers recognizes a need through advertising/publicity
Purchase Stage 2 - Answer- A customer seeks information through advertising/personal
selling
Marketing - Answer- Communicating, creating, and delivering value
Value (equation) - Answer- Benefits/cost
What is value measured by? - Answer- Utility
Utility - Answer- How well a customer can use a product
4 Types of Benefits - Answer- Form, time, place, posession
Benefit: Form - Answer- Ability of use
Benefit: Time - Answer- Timelines of purchase
Benefit: Place - Answer- Convenience of purchase location
Benefit: Posession - Answer- Sentiment of ownership
Post Purchase Evaluation - Answer- Ensuring the benefit of the customer after a purchase
Data Warehousing - Answer- Technology for developing customer retention and relationships
Market Segmentation - Answer- Dividing a market of potential customers into segments based characteristics
Corporate Culture - Answer- Shared attitudes of members of a corporation
Marketing Mix - Answer- Product, Price, Place, Promotion
Promotional Mix - Answer- Advertising, publicity, sales promotion, direct marketing, personal selling.
PPE (Post Purchase Evaluation) - Answer- A customer evaluates if they are satisfied after making a purchase
Purchase Stage 1 - Answer- A customers recognizes a need through advertising/publicity
Purchase Stage 2 - Answer- A customer seeks information through advertising/personal
selling
