(1) Tangible assets - manufacturing plant, bricks and mortar, cash, investments, etc. The name given to a legal action brought to protect the "reputation" of a particular trademark/brand/get up. Shop DECA has been providing products and services to chapters and associations for more than twenty years. Developing software or systems to provide one-to-one customer service and personal contact between the company and the customer, The way in which the brand meets its customers' needs via its various different channels (for example, over the telephone or Internet in the case of remote banking, or in person in the case of retail or entertainment), A feature of a product that is valuable to customers and is not found in other products of the same category, Creation or demonstration of unique characteristics in a company's products or brands compared to those of its competitors, Any tangible or intangible characteristic that can be used to distinguish a product or a company from other products and companies, A product-market strategy that involves the development or acquisition of offerings new to the organization and/or the introduction of those offerings to the target markets not previously served by the organization, When genuine product is sold to a buyer in one market/channel and then resold by the same buyer into another market/channel, without the consent or authority of the brand owner, to take advantage of a price arbitrage situation. (3) Tangible brand values – useful qualities of the brand known to exist through experience and knowledge, What is present in the uppermost level of consciousness; the manufacturer or brand that people in market surveys name first when asked to list products in a specific category. A market research method of exploring the relationship between percieved elements of customer value and price, The way in which a consumer views a product, price, company, brand, etc. [/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=”yes”][vc_column_inner width=”1/2″][vc_column_text]ANYTIME between 7:00 am – 6:00 pm but students writing the SAME Cluster Exam must write in the same time period! (2) Tangible brand attributes – the product and its packaging. The latter is usually called the MRO market or aftermarket, What a company offers for sale to customers. ���� 0��1�Ԁ�@� $9�Iu�'@��E@�fTcd�axw@����l>�ۘ�S����R>]p��'/������A@�0T:�@���A�. On this page, there are several marketing tests with an answer key at the end. Sometimes used with sub-brands, sometimes used with alpha or numeric signifiers, A single brand name that is used to “masterbrand” all products or services in a range. Principles of Business Administration Events. B. dishonest. Archived. ALL students will be assigned to an event right from the beginning BEFORE October 1. Vendor representative in charge of specific customers or channel partners. Even numbers ($10, $50, $100) suggest quality, Setting the initial price low with the hope of saturating the market with the product and gaining market share, A pricing method used to aggressively set high prices to maximize profit, but also take significant volume losses into account, Selling products at such a low price, even at a loss, to increase market share and eliminate competition only to raise prices once the competitive threat has closed, An amount paid in addition to the regular market price as a result of an advantage/higher value over competitor products, Setting higher than normal prices to suggest the product has prestige, Numerical monetary value assigned to a product or service, A part of systematic price management which main purpose is to monitor and track pricing related efforts and activities, The practice of selling of the same product to different buyers at different prices, A measure of the change in demand in response to a change in price of a product or service, An agreement between two or more parties, generally considered to be competitors, to set, maintain, and charge a specified price for a particular product. Most manufacturing companies thus have an OEM market and a replacement market. Shop DECA is the official source for your chapter needs. Some are uncontrolled like journalistic comment and word of mouth. 16 of the 18 combined Individual and Principle Events and 6 of the 8 Team Oral Events must be populated with the student names before the system will allow you to continue the next flight. Mukwonago DECA competed at the annual Marketing Education Association Competition held Nov. 5. DECA is a sport and it's the only sport you need to join because those other guys … Press J to jump to the feed. B. get our way and receive the outcomes we want. it’s a bargain; it’s high quality), A price reduction offered to customers who buy large amounts of a product, The dollar amount you set as the normal retail price, A type of of reduction from the list price of an item. The name and brand of the product are also part of the offering, The design of the pack format and graphics for a product brand. %PDF-1.6 %���� h�b```�Z��B ���� As an example, imagine that your business only offers one product priced at $5. ), but usually taken to mean an organization's presentation to its stakeholders and the means by which it differentiates itself from other organizations, When an organization or individual produces a product that looks like a branded product and is packaged and presented in a manner to deceive the purchaser, The country from which a given product comes. Close. There are two types of awareness: spontaneous, which measures the percentage of people who spontaneously mention a particular brand when asked to name brands in a certain category; and prompted, which measures the percentage of people who recognize a brand from a particular category when shown a list, A brand is a mixture of attributes, tangible and intangible, symbolized in a trademark, which, if managed properly, creates value and influence. Posted by. A pricing method used to set price for a product or service based on the competitor’s product prices. ICDC i am looking for these exams, don't want to buy them off shopdeca.com. A $10.00 cost item at 50% mark-up sells for $15.00 retail, A percentage of total sales in a market captured by a certain company, The difference between the cost of a product and its selling price. Nestle Kit-Kat, Fast Moving Consumer Goods. Learn vocabulary, terms, and more with flashcards, games, and other study tools. There are three main types of brand architecture system: The feelings, beliefs and knowledge that consumers (customers) have about brands. A large share confers advantages of scale in product development, manufacturing and marketing. The role plays that will take a Finance Cluster exam includes: Create your own unique website with customizable templates. The legislation has been used to combat monopolies, Setting the initial price high in hopes of capitalizing on the high demand for a new product, Pricing products to cover variable costs to simply stay in business, A price which a buyer or a seller wants to achieve during the negotiation process, A price reduction offered by the seller to members in a certain trade channel. The office photocopier is jammed again! Also called a volume or quantity discount, The point at which revenue equals total costs. A manufacturer of ball bearings, for example, sells both to OEM customers who build the bearings into machines and to end users who need the bearings as spare parts for machines that they have bought from the OEMs. For example, Lever Brothers sells washing powders under the Persil, Omo and Surf names; Cadbury sells chocolates under the Dairy Milk, Bournville and Fruit & Nut names; Heinz sells canned convenience foods under the Baked Beans, Spaghetti Hoops and Alphabetti Spaghetti names, OEM stands for Original Equipment Manufacturers. The code is read by an electronic scanner for receiving, ordering and inventory control purposes. For product brands the tangibles are the product itself, the packaging, the price, etc. Each exam contains 100 questions and answers. But fear not! This strategy is used mainly by manufacturers of consumer goods. The brand's identity is its fundamental means of consumer recognition and symbolizes the brand's differentiation from competitors, The customer's net "out-take" from the brand. Positioning involves the careful manipulation of every element of the marketing mix, The process of identifying and measuring the economic benefit - brand value - that derives from brand ownership, Selecting and blending tangible and intangible attributes to differentiate the product, service or corporation in an attractive, meaningful and compelling way, The use of two or more brand names in support of a new product, service or venture, Describes inventory that is in such a form that is ready for sale to consumers, Goods (consumer goods) or services (consumer services) purchased for private use or for other members of the household, Government regulations designed and implemented to ensure fair competition and the free flow of truthful information in the marketplace, Relates to a company's particular areas of skill and competence that best contribute to its ability to compete, At a minimum, is used to refer to the visual identity of a corporation (its logo, signage, etc. A manufacturer of ball bearings, for example, sells both to OEM customers who build the bearings into machines and to end users who need the bearings as spare parts for machines that they have bought from the OEMs. Product mix usually refers to the length (the number of products in the product line), breadth (the number of product lines that a company offers), depth (the different varieties of product in the product line), and consistency (the relationship between products in their final destination) of product lines, The need or desire for a product or service that does not yet exist, noticed by a company or individual, A marketing function involving developing, obtaining, maintaining, and improving a product or service mix in response to market opportunities, When a brand owner revisits the brand with the purpose of updating or revising based on internal or external circumstances.

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