Vocab
What is selling
providing customers with goods and services they want to buy. This includes
selling to the retail market (the final user of the product) or the industrial market (those
who make goods for resale).
What is an example of financing
Borrowing and repaying short-term loans
What does Promotion stand for
a marketing tool, used as a strategy to communicate between the sellers and buyers.
When was Deca founded
1947
What does the S in Swot stand for
Strengths
What is promotion
Any form of communication used to inform, persuade, or remind people
about a business’s products and improve its public image. This includes advertising,
publicity, sales promotion and personal selling.
What is an example of promotion
Social media, sampling, offering, etc.
What does pricing mean
the act of determining the value of a product or service
What does DECA stand for
Distributive Education Clubs of America
What does the W in Swot stand for
weakness
what is Distribution
Transporting, storing, and handling goods on their way from seller to
customer.
What is an example of distribution
giving out coupons or vouchers, temporarily reducing prices through discounts, sampling, offering giveaways, flash sales or buy-one-get-one-free offers
what does production mean
marketing philosophy where your business focuses on producing more goods in such a way to drive prices down
What does DECA do in highschool
prepares emerging leaders and entrepreneurs in marketing, finance, hospitality and management
What does the T in Swot stand for
Threats
What is financing
Getting the money needed to finance the operation of a business.
What is an example of pricing
Price of goods and services, Shirts, shoes etc.
What does place mean
where you sell your product and the distribution channels you use to get it to your customer
When was the DECA headquarters founded
1975
What does the O in Swot stand fpr
Opportunities
What is product service management
Obtaining, developing, maintaining, and
improving a product or a product mix in response to market opportunities.
What is an example of selling
Every display, discount, and salesperson is selling you something in that store.
Why are the 4ps important
It helps you to define your marketing options in terms of price, product, promotion, and place so that your offering meets a specific customer need or demand
Where is the DECA headquarters
Virginia