MKT 100 MIDTERM ACTUAL EXAM PAPER
2026 QUESTIONS WITH ANSWERS
GRADED A+
◍ Ethical Climate.
Answer: The set of values within a marketing firm, or in the marketing
division of any firm, that guides decision making and behaviour.
◍ Noncomensatory Decision Rule.
Answer: When consumers pick an item with the basis of its characteristics,
without going into depth about the item.
◍ Target Market.
Answer: The customer group to whom the firm is interested in the product
you will sell.
◍ Variable Costs.
Answer: Costs that vary with production volume, and are changeable, such
as labor, and materials.
◍ Market Segmentation.
Answer: The process of dividing a market into distinct groups of customers,
where each individual group has its needs met. An example is a car rental
company, they have a car for everyones needs.
◍ Qualitative Data (Explorative).
Answer: Provides deeper insight into issues and questions.
◍ Market Strategy.
Answer: Identifies a firm's target market(s).
◍ Focus Group.
Answer: A small group of 8-12 people
2026 QUESTIONS WITH ANSWERS
GRADED A+
◍ Ethical Climate.
Answer: The set of values within a marketing firm, or in the marketing
division of any firm, that guides decision making and behaviour.
◍ Noncomensatory Decision Rule.
Answer: When consumers pick an item with the basis of its characteristics,
without going into depth about the item.
◍ Target Market.
Answer: The customer group to whom the firm is interested in the product
you will sell.
◍ Variable Costs.
Answer: Costs that vary with production volume, and are changeable, such
as labor, and materials.
◍ Market Segmentation.
Answer: The process of dividing a market into distinct groups of customers,
where each individual group has its needs met. An example is a car rental
company, they have a car for everyones needs.
◍ Qualitative Data (Explorative).
Answer: Provides deeper insight into issues and questions.
◍ Market Strategy.
Answer: Identifies a firm's target market(s).
◍ Focus Group.
Answer: A small group of 8-12 people
