DECA Marketing Cluster Exam
Vocabulary 2023
The legal procedure - Answer The process of reviewing disputes and resolving them
in a fair manner
Sole proprietorship - Answer A form of business ownership in which a business is
owned by one person
Partnership - Answer Form of business ownership in which a business is owned by
two or more people
Corporation - Answer Owned by issuing stock, difficult to form and operate
Monopoly - Answer Market is controlled by one supplier
Marketing - information Management - Answer Marketing function that involves
gathering, accessing, evaluating, and distributing data about customer preferences,
opinions, habits and trends to use in business decisions
Product/service management - Answer Involves obtaining, developing, maintaining
and improving a product or service mix
Selling - Answer Determining client needs and wants and responding through
personalized communication which influences purchase decisions
Promotion - Answer Communicating info about goods, sercices, images or ideas to
achieve a desired outcome
Wholesaler - Answer A business that buys goods from producers or agents and sells
them to retailers
Agents - Answer Assist in selling and promoting a producer's goods
Producers - Answer Growers, providers, or manufacturers of goods or services
Retailers - Answer Businesses that buy consumer goods or services and sell them to
customers
Integrated data between channel members - Answer Technology of electronic billing,
purchase-order verification, bar coding and image processing enabling integrated
data
Vertical and horizontal channel integration - Answer Methods of organizing
distribution channels
Finance department - Answer Utilizes methods to share data
Horizontal channel conflict - Answer Occurs between businesses at the same level
, DECA Marketing Cluster Exam
Vocabulary 2023
Vertical channel conflict - Answer Occurs between different levels of the same
channel (i.e. local branch vs. Corporate office)
Marketing research - Answer Systematic gathering, recording, and analyzing data
about problems relating to goods and services
Businesslike telephone answering - Answer Identify the firm/department and yourself
Casually operated groups - Answer Purpose is to give and find out opinions. No
"rules" exist
Complimentary closing - Answer Yours truly
Work related problems should be discussed with... - Answer Their immediate
supervisor
How to make customers feel important - Answer Use their names in conversation
Employee policy - Answer Policies that explain how employees are to act and deal
with customers
Things to avoid doing with slow, methodical customers - Answer Show them a large
selection of products
Possession utility - Answer Ownership of a product is transferred from the seller to
the customer (credit plans)
Place utility - Answer Making goods and services avaliable at the location wanted by
customers
Form utility - Answer When the shape or form of a product is altered to make it more
useful
When do prices increase? - Answer When buyers will be willing to pay higher prices
Matrix organizational structure - Answer Uses horizontal authority to integrate
departmental functions with product orientation
Oligopoly - Answer Market structure with relatively few sellers where industry leaders
determine prices
Technical monopoly - Answer Type of monopoly in which seller controls the market
with one or more technical products
Advantages of specialization of labor - Answer It's easier to train employees
Peak phase of the business cycle - Answer When economy prosperity reaches a
high point and demand exceeds capabilities of producers
Vocabulary 2023
The legal procedure - Answer The process of reviewing disputes and resolving them
in a fair manner
Sole proprietorship - Answer A form of business ownership in which a business is
owned by one person
Partnership - Answer Form of business ownership in which a business is owned by
two or more people
Corporation - Answer Owned by issuing stock, difficult to form and operate
Monopoly - Answer Market is controlled by one supplier
Marketing - information Management - Answer Marketing function that involves
gathering, accessing, evaluating, and distributing data about customer preferences,
opinions, habits and trends to use in business decisions
Product/service management - Answer Involves obtaining, developing, maintaining
and improving a product or service mix
Selling - Answer Determining client needs and wants and responding through
personalized communication which influences purchase decisions
Promotion - Answer Communicating info about goods, sercices, images or ideas to
achieve a desired outcome
Wholesaler - Answer A business that buys goods from producers or agents and sells
them to retailers
Agents - Answer Assist in selling and promoting a producer's goods
Producers - Answer Growers, providers, or manufacturers of goods or services
Retailers - Answer Businesses that buy consumer goods or services and sell them to
customers
Integrated data between channel members - Answer Technology of electronic billing,
purchase-order verification, bar coding and image processing enabling integrated
data
Vertical and horizontal channel integration - Answer Methods of organizing
distribution channels
Finance department - Answer Utilizes methods to share data
Horizontal channel conflict - Answer Occurs between businesses at the same level
, DECA Marketing Cluster Exam
Vocabulary 2023
Vertical channel conflict - Answer Occurs between different levels of the same
channel (i.e. local branch vs. Corporate office)
Marketing research - Answer Systematic gathering, recording, and analyzing data
about problems relating to goods and services
Businesslike telephone answering - Answer Identify the firm/department and yourself
Casually operated groups - Answer Purpose is to give and find out opinions. No
"rules" exist
Complimentary closing - Answer Yours truly
Work related problems should be discussed with... - Answer Their immediate
supervisor
How to make customers feel important - Answer Use their names in conversation
Employee policy - Answer Policies that explain how employees are to act and deal
with customers
Things to avoid doing with slow, methodical customers - Answer Show them a large
selection of products
Possession utility - Answer Ownership of a product is transferred from the seller to
the customer (credit plans)
Place utility - Answer Making goods and services avaliable at the location wanted by
customers
Form utility - Answer When the shape or form of a product is altered to make it more
useful
When do prices increase? - Answer When buyers will be willing to pay higher prices
Matrix organizational structure - Answer Uses horizontal authority to integrate
departmental functions with product orientation
Oligopoly - Answer Market structure with relatively few sellers where industry leaders
determine prices
Technical monopoly - Answer Type of monopoly in which seller controls the market
with one or more technical products
Advantages of specialization of labor - Answer It's easier to train employees
Peak phase of the business cycle - Answer When economy prosperity reaches a
high point and demand exceeds capabilities of producers
