DECA MARKETING CLUSTER
EXAM
Sugging - ANSWERS-The act of selling or attempting to sell a
product under the guise of conducting market research.
Price Discrimination - ANSWERS-The action of selling the same
product at different prices to different buyers, in order to maximize
sales and profits.
Scanner Fraud - ANSWERS-When a store changes the sticker price of
an object to be on sale, but doesn't change the price within the
computer, so the consumer will pay the higher price at the point of
sale.
Price Gouging - ANSWERS-A seller prices goods or commodities at
a level much higher than is considered reasonable or fair. This rapid
increase in prices occurs after a demand or supply shock: examples
include price increases after hurricanes or other natural disasters.
Invoice - ANSWERS-A commercial document that itemizes a
transaction between a buyer and a seller. Will usually include the
quantity of purchase, price of goods and/or services, date, parties
involved, unique invoice number, and tax information.
, SWOT Analysis - ANSWERS-A study undertaken by an organization
to identify its internal strengths and weaknesses, as well as its external
opportunities and threats.
Demographic - ANSWERS-A particular sector of a population.
Geographics - ANSWERS-A particular sector of the world/
geography.
Psychographics - ANSWERS-Study of personality, values, opinions,
attitudes, interests, and lifestyles. Because this area of research
focuses on interests, attitudes, and opinions.
Six Thinking Hats - ANSWERS-A creative-thinking technique that
involves categorizing and focusing on different aspects of a problem,
issue, or situation. Each "hat" represents one aspect or way (i.e., facts,
positives, negatives, emotions, new ideas, organization) of looking at
the situation. Brainstorming involves identifying as many different
ideas as possible during a set time frame. Mind mapping is a form of
brainstorming that organizes ideas and information graphically using
shapes, pictures, and words. Unconscious problem solving involves
relaxation and distraction from the product, situation, or issue.
Tort - ANSWERS-A wrongful act or an infringement of a right (other
than under contract) leading to civil legal liability.
EXAM
Sugging - ANSWERS-The act of selling or attempting to sell a
product under the guise of conducting market research.
Price Discrimination - ANSWERS-The action of selling the same
product at different prices to different buyers, in order to maximize
sales and profits.
Scanner Fraud - ANSWERS-When a store changes the sticker price of
an object to be on sale, but doesn't change the price within the
computer, so the consumer will pay the higher price at the point of
sale.
Price Gouging - ANSWERS-A seller prices goods or commodities at
a level much higher than is considered reasonable or fair. This rapid
increase in prices occurs after a demand or supply shock: examples
include price increases after hurricanes or other natural disasters.
Invoice - ANSWERS-A commercial document that itemizes a
transaction between a buyer and a seller. Will usually include the
quantity of purchase, price of goods and/or services, date, parties
involved, unique invoice number, and tax information.
, SWOT Analysis - ANSWERS-A study undertaken by an organization
to identify its internal strengths and weaknesses, as well as its external
opportunities and threats.
Demographic - ANSWERS-A particular sector of a population.
Geographics - ANSWERS-A particular sector of the world/
geography.
Psychographics - ANSWERS-Study of personality, values, opinions,
attitudes, interests, and lifestyles. Because this area of research
focuses on interests, attitudes, and opinions.
Six Thinking Hats - ANSWERS-A creative-thinking technique that
involves categorizing and focusing on different aspects of a problem,
issue, or situation. Each "hat" represents one aspect or way (i.e., facts,
positives, negatives, emotions, new ideas, organization) of looking at
the situation. Brainstorming involves identifying as many different
ideas as possible during a set time frame. Mind mapping is a form of
brainstorming that organizes ideas and information graphically using
shapes, pictures, and words. Unconscious problem solving involves
relaxation and distraction from the product, situation, or issue.
Tort - ANSWERS-A wrongful act or an infringement of a right (other
than under contract) leading to civil legal liability.
