Marketing Vocabulary Multiple Choice 1

What is the primary goal of advertising?

• To increase production costs

• To limit consumer choices

• To inform and persuade potential customers

• To decrease product demand

An angel investor is typically someone who:

• Invests in large, well-established corporations

• Sells stocks in the stock market

• Provides financial support to startup businesses in exchange for equity

• Focuses only on nonprofit organizations

In sales, what does the term "approach" refer to?

• The final step in closing a sale

• The process of manufacturing a product

• The way a salesperson initially contacts a potential customer

• The way a company selects its suppliers

A company’s target audience refers to:

• A government agency that regulates advertisements

• The employees who work at the company

• The specific consumers a company aims to reach with its products or services

• The competitors in the same industry

An autocratic management style is characterized by:

• Employee participation in decision-making

• Leaders making decisions without consulting employees

• A hands-off approach to management

• A focus only on customer opinions

Which of the following is an example of a B2B transaction?

• A person subscribing to an online streaming service

• A company purchasing software from another company

• A grocery store selling produce to consumers

• A customer buying a laptop from a retail store

A B2C company primarily sells products to:

• Government agencies

• Individual consumers

• Other businesses

• Wholesale suppliers

Baby Boomers are people born between which years?

• 1981 - 1996

• 1946 - 1964

• 1965 - 1980

• 1977 - 1994

What is the primary characteristic of a "bait and switch" sales tactic?

• Advertising a product at a low price but pressuring customers to buy a more expensive item

• Providing a discount to repeat customers

• Selling counterfeit goods at a discounted price

• Offering free shipping on online orders

The balance of payments (BOP) is a measure of:

• The total economic transactions between a country and the rest of the world

• A country’s total income from exports

• The difference between a company’s revenue and expenses

• The total amount of money a business owes to suppliers