DECA Test Study Guide Graded A+

company analysis - Answer-questions that determine what a company identifies what areas are weak customer analysis - Answer-studying customers buying habits to reveal patterns that offer insight into product offerings and pricing strategies competitive position - Answer-questions that determine a company's competitive plan external opportunities and threats - Answer-competition, environmental scan, political, economic, socio-cultural, technolgical competition - Answer-knowing what your competitors are doing at all times, as changes can provide opportunities environmental scan - Answer-an analysis of outside influences that may have an impact on an organization political - Answer-being alert to new government laws economic - Answer-determines whether the economy is going up and down, is vital in making future decisions socio-cultural - Answer-changes in attitudes, lifestyles, and opinions provide opportunities/threats technological - Answer-changing technology provides both threats and opportunities executive summary - Answer-brief overview of the entire marketing plan goals and objectives - Answer-goals are long term; objectives help you reach a goal objective - Answer-the item included in the marketing plan that must be single-minded, specific, realistic, measurable, and have a time frameGI generation - Answer-the generation who fought in both WWI and WWII generation x - Answer-the generation who was first to grow up with dual income families and were first to be labeled by marketers silent generation - Answer-generation who were born between WWI and WWII baby boomers - Answer-76 million babies born in 18 year span- target of technology gadgets, cosmetic products, to enhance lifestyle generation y - Answer-more individualistic, grew up with many world changing events like computers, phones, and internet-immune to traditional ways of marketing generation z - Answer-record number of births 49% hispanic, society where everything is possible and main form of communication is the internet-very volatile the 3 c's - Answer-customers, competition, company