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DECA Marketing Cluster Exam Vocabulary well answered to pass
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DECA Marketing Cluster Exam Vocabulary well answered to pass
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DECA Marketing Cluster ExamVocabulary well answered to pass
The legal procedure - correct answer ✔✔The process of reviewing disputes and resolving them in a fair
manner
Sole proprietorship - correct answer ✔✔A form of business ownership in which a business is owned by
one person
Partnership - correct answer ✔✔Form of business ownership in which a business is owned by two or
more people
Corporation - correct answer ✔✔Owned by issuing stock, difficult to form and operate
Monopoly - correct answer ✔✔Market is controlled by one supplier
Marketing - information Management - correct 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 - correct answer ✔✔Involves obtaining, developing, maintaining and
improving a product or service mix
Selling - correct answer ✔✔Determining client needs and wants and responding through personalized
communication which influences purchase decisions
Promotion - correct answer ✔✔Communicating info about goods, sercices, images or ideas to achieve a
desired outcome
, Wholesaler - correct answer ✔✔A business that buys goods from producers or agents and sells them to
retailers
Agents - correct answer ✔✔Assist in selling and promoting a producer's goods
Producers - correct answer ✔✔Growers, providers, or manufacturers of goods or services
Retailers - correct answer ✔✔Businesses that buy consumer goods or services and sell them to
customers
Integrated data between channel members - correct answer ✔✔Technology of electronic billing,
purchase-order verification, bar coding and image processing enabling integrated data
Vertical and horizontal channel integration - correct answer ✔✔Methods of organizing distribution
channels
Finance department - correct answer ✔✔Utilizes methods to share data
Horizontal channel conflict - correct answer ✔✔Occurs between businesses at the same level
Vertical channel conflict - correct answer ✔✔Occurs between different levels of the same channel (i.e.
local branch vs. Corporate office)
Marketing research - correct answer ✔✔Systematic gathering, recording, and analyzing data about
problems relating to goods and services
Businesslike telephone answering - correct answer ✔✔Identify the firm/department and yourself
Casually operated groups - correct answer ✔✔Purpose is to give and find out opinions. No "rules" exist
Complimentary closing - correct answer ✔✔Yours truly
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