DECA Marketing Cluster Terms

Bi-Lateral Contract
A promise made in exchange for another promise
tying agreement
agreement between a buyer and a seller in which the buyer is required to purchase one product to get another
selective distribution
A form of distribution achieved by screening dealers to eliminate all but a few in any single area
horizontal conflict
a channel conflict that occurs among channel members on the same level
vertical conflict
a channel conflict that occurs between different levels in a marketing channel, most typically between the manufacturer and wholesaler or between the manufacturer and retailer
automation
A technique that is used to make a process automatic.
As Prices increase, supply quantity
Increses
semantic-differential
When using a _____-_____ scale, a respondent has a selection between a set of bipolar adjectives or phrases; attitude
GDP
Gross Domestic Product
Fixed Costs
Costs that do not vary with the quantity of output produced
Flexible Prices
product prices that freely move upward or downward when product demand or supply changes
Oligopoly
(economics) a market in which control over the supply of a commodity is in the hands of a small number of producers and each one can influence prices and affect competitors
Pure Competiton
Large number of sellers; similar products; distribution is important
Monoply
control of a product or service by one company
Morphological analysis
uses the same basic technique, but is used to create a new product by mixing components in a new way
internal data
Facts and figures located inside the company
quantitative data
Data associated with mathematical models and statistical techniques used to analyze spatial location and association.
qualitative data
Information describing color, odor, shape, or some other physical characteristic
psychographic segmentation
market segmentation on the basis of personality, motives, lifestyles, and geodemographics
Price Fixing
An agreement among firms to charge one price for the same good