Marketing Vocabulary Multiple Choice 2

A budget is best described as:

• A marketing strategy to increase sales

• A financial plan that estimates income and expenses over a period of time

• A document used to track employee wages

• A promotional tool used by businesses

Which of the following is an example of a B2C transaction?

• A wholesaler selling products to a retailer

• A company purchasing equipment from another company

• A customer buying a laptop from an electronics store

• A manufacturer selling raw materials to another business

A B2B company primarily sells products or services to:

• Individual consumers

• Government agencies

• Other businesses

• Nonprofit organizations

Which of the following is an example of a C2C transaction?

• A person selling a used bike on an online marketplace

• A store selling clothing to customers

• A business purchasing supplies from a wholesaler

• A company investing in stock market shares

The circular flow chart represents:

• The process of marketing campaign development

• The movement of goods, services, and money between businesses and consumers

• The flow of raw materials in a manufacturing plant

• A financial statement used by businesses

In sales, "closing the sale" refers to:

• Ending communication with a customer

• Finalizing the transaction and securing a purchase decision

• Offering a discount to encourage repeat purchases

• Identifying potential customers for future sales

Cold-calling is a sales technique that involves:

• Contacting potential customers without prior interaction

• Following up with existing customers

• Advertising products through social media

• Providing free samples to customers

A command economy is characterized by:

• Businesses operating with little government regulation

• The government making all economic decisions

• Companies competing freely in an open market

• Consumers determining the prices of goods and services

A commission is:

• A fixed salary paid to employees

• A payment made to employees based on the sales they generate

• A type of business loan

• A discount offered to loyal customers

A company's image is:

• The way customers and the public perceive the business

• A logo designed to promote a brand

• A type of visual advertisement

• A slogan used in marketing campaigns