RETAILING
What is Retailing?
The selling of goods or services directly to consumers.
What are the 4 P’s of marketing?
Product, Price, Place, Promotion.
What does DECA stand for?
Distributive Education Clubs of America.
What is Advertising?
Paid promotion of products, services, or ideas.
Revenue minus expenses is...
Profit
What is Merchandising?
The promotion and presentation of products to encourage sales.
What is a Target Market
The specific group of consumers a business aims to reach.
What do you have to place in States to be eligible for ICDC?
Top 3 in your category.
What's a Slogan?
It's a short and memorable phrase to represent a brand.
What is Revenue?
Money earned from selling goods or services.
What is Markup?
The amount added to the cost of a product to set its selling price.
What is Market Segmentation?
Dividing a market into smaller groups based on shared characteristics.
What does ICDC stand for?
The International Career Development Conference.
What is social media marketing?
Using social platforms to promote products or services.
What is an Entrepreneur?
A person who starts and runs a business.
What is Inventory?
The goods a business has available for sale.
What is Market Research?
The process of gathering information about customers and markets.
What are performance indicators?
Measurable skills judges look for during competitions.
What is the difference between reach and frequency?
Reach is how many people see an ad; frequency is how often they see it.
What is a SWOT Analysis?
Strengths, Weaknesses, Opportunities, and Threats.
What is a Markdown?
A reduction in the original selling price of a product.
What is Brand Loyalty?
When customers repeatedly buy the same brand over time.
What does the judge evaluate in a DECA role-play?
Communication, professionalism, and business knowledge.
What is a call to action?
A message that encourages customers to take a specific action.
What is break-even point?
When total revenue equals total costs.