Marketing Vocabulary Multiple Choice 3

Front

What is credit card skimming?

Back

The unauthorized collection of credit card data using hidden devices.

Front

Crowdfunding is best described as: A fundraising method where individuals contribute small amounts of money to support a project

Back

A fundraising method where individuals contribute small amounts of money to support a project

Front

What is the main purpose of a customer loyalty program?

Back

To encourage repeat purchases by offering rewards

Front

Customer Relationship Marketing (CRM) focuses on:

Back

Building and maintaining long-term customer relationships

Front

Which of the following is an example of data collection in marketing? Offering discounts to loyal customers, Gathering customer feedback through surveys, Reducing the price of a product to increase sales, Designing a new company logo

Back

Gathering customer feedback through surveys

Front

How does a debit transaction differ from a credit transaction?

Back

Debit transactions immediately withdraw funds from a customer’s account.

Front

In economics, demand refers to:

Back

The willingness and ability of consumers to purchase goods and services

Front

Which of the following is a characteristic of a democratic management style?
- Managing and strengthening long-term relationships with customers
- Reducing company expenses by limiting customer interactions
- Selling only to high-income consumers
- Involving employees in decision-making processes

Back

Involving employees in decision-making processes

Front

A democratic management style is characterized by:

Back

Employee participation in business decisions and open communication

Front

Which of the following is an example of demographic data? The number of competitors in a market, The spending habits of customers, A customer’s age, gender, and income level, The total number of sales in a company

Back

A customer’s age, gender, and income level