vocab
what is marketing
activities a company undertakes to promote the buying or selling of a product or service
what does deca do
DECA prepares emerging leaders and entrepreneurs in marketing, finance, hospitality and management
what are 5 concepts of marketing
production, product, selling, marketing, and societal
what is a entrepreneur
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
what is selling
providing customers with goods and services they want to buy. This includes selling to the retail market or the industrial market.
what is marketing mix
refers to the four key elements of a marketing strategy: product, price, place and promotion
when was deca founded
1947
what is the role of marketing
proactively identifies the products and services to focus on over the course of your sales cycle, and then produces materials and communications that get the word out
what does it mean to be an entrepreneur
an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
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.
market segmentation
a marketing strategy in which select groups of consumers are identified so that certain products or product lines can be presented to them in a way that appeals to their interests
what is the original name of deca
Distributive Education Clubs of America
what is the importance of marketing
it makes the customers aware of your products or services, engages them, and helps them make the buying decision.
what are 4 types of entrepreneurs
coasting, aggressive, conservative, innovator
what is pricing
Making decisions on how much to charge for goods and services by looking at price in relation to value.
what are the seven functions of marketing
selling, promotion, distribution, marketing information management, pricing, financing, product service management.
why was deca made
to encourage students to explore the art of marketing
what are three marketing stratagies
Product strategy. This lever is about what is being delivered to the marketplace and consumed by the customer, Service strategy, Pricing strategy
what are 7 skills of an entrepreneur
A vision. Know exactly what you want, Ask questions. Question yourself, your plans, your strategy, your business plans and your decisions, Passion and energy, A work ethic, Create an opportunity, Communication, Sales.
what is financing
Getting the money needed to finance the operation of a business.
what are the 4 P's
product, promotion, price, place
how did deca start
The national organization was formed at the first Interstate Conference of Distributive Education in Memphis at the Peabody Hotel in April 1947
what is a marketing plan
the advertising strategy that a business will implement to sell its product or service
what are 5 examples of entrepreneurship
Social entrepreneurship, Innovation entrepreneurship, Big business entrepreneurship, Small business entrepreneurship, Salable start-up business entrepreneurship.
what is the meaning of this class
to teach us about marketing and life after school and teach us things we'll need to know after highschool