Marketing
What kind of marketing is it when customers tell their friends and family about a product/service?
Word-of-Mouth Marketing (WOM)
Promotional activities that are designed to create a good image with the public.
Public Relations
An authorization or license granted to an inventor that prevents others from making, using, or selling their invention
Patent
"Ian, do u have game?"
Jacob Davidson
The process of communicating with a particular group who is most likely to become customers. A target market is usually defined by demographic, geographic and psychographic characteristics
Target Marketing
The ability to convey information to another effectively and efficiently. Extremely important when working with customers.
Communication Skills
A description of how an existing business or business idea plans to achieve success, make a profit, and create value
Business model
"OH, so you guys are like the big three!"
(to ella, robby, and chloe)
Ray
The stages that a product goes through in its life: Introduction, Growth, Maturity, and Decline.
Product Life Cycle
Processes implemented to ensure the safety of workers and customers in a business, including the process for handling on-the-job accidents/injuries.
Safety Procedures
Attempts to explain how wealth is created and distributed in communities, how people allocate their resources and any matter that deals with human wants and their satisfaction.
Economics
"I'm quitting DECA" or "Guys, let's quit DECA"
Ian Zhang (current mlk deca prez)
Kyra Zhang (current mlk deca prez + upcoming socal vp! + ICDC winner)
Robert Flores (current socal vp + ca state prez candidate + ICDC winner)
Technique of offering two or more complementary goods or services together as a package deal. Bundled items are sold at a price attractively lower than the total of their individual selling prices
Product Bundling
The ability to identify, assess and influence one’s own feelings and those of others.
Emotional Intelligence
An examination of an organization’s financial statements that is conducted by an employee of the organization
Internal Audit
"DECADOLLARS!!!!!!"
Pio
The process and methods that generates, stores, analyzes and distributes information to promote good decision making for a business.
Marketing Information Management
Customer information gathered by a business, such as name, address, phone, and purchase history.
Customer Database
Balance sheet, income statement, the statement of cash flow
"DECA makes me feel like a corporate slave"
Dylann <3