MKT 100 Midterm Exam | Questions and Answers | 2025 Update | 100% Correct-Toronto Metropolitan University.

MKT 100 Midterm Exam | Questions and Answers | 2025 Update | 100% Correct-Toronto Metropolitan University. Political Social EnvironmentG - ANSWER -Comprises political parties, government organizations, and legislation and laws that promote of inhibit trade and marketing activities. Green Marketing - ANSWER -Marketing using green technologies. Just In Time Delivery - ANSWER -Makes production as short as possible. Marketing research - ANSWER -A set of techniques and principles for systemically collecting, recording, analyzing, and incorporating data that can aid decision makers involved in marketing goods, services or ideas. Syndicated Data - ANSWER -Data that is available for a fee from commercial research companies. Scanner data - ANSWER -A type of quantitative research that uses data obtained from scanner readings of UPC codes at checkout counters. Panel data - ANSWER -A type of quantitative research that involves collecting information from a group of consumers (the panel) over time; data collected may be from a survey or a record of purchases. Qualitative Data (Explorative) - ANSWER -Provides deeper insight into issues and questions. Validity - ANSWER -The extent to which a study measures what it is supposed to measure. Quantitative Research (Conclusive) - ANSWER -Information collected to confirm preliminary insights. Proof. Ethnography - ANSWER -An observational method that studies people in their daily lives and activities, their homes, work and communities. Focus Group - ANSWER -A small group of 8-12 people Projective Technique - ANSWER -A type of qualitative research, in which subjects ar provided a scenario and asked to express their thoughts about it. Experimental Research - ANSWER -A type of quantitative research that manipulates one or more variables to determine which variable has a casual effect on another variable. Descriptive Research - ANSWER -Seeks to quantify demand, for example, how much people would spend on airline tickets. Primary Data - ANSWER -Data that has been collected in order to help with the study being conducted. Secondary Data - ANSWER -Data that has been collected from other sources to be used towards the study being conducted. Qualitative Research - ANSWER -Attempts to begin to understand the phenomenon of interest, also provides initial information when the problem lacks any clear definition. Unstructured Questions - ANSWER -Questions that interviewers ask and then the respondent can come up with their own ANSWER. Structured Questions - ANSWER -Questions that interviewers ask and then the respondent has to pick from a bank of ANSWERs. Ethics - ANSWER -Moral principles and actions that govern the actions and decisions of a group or individual. Cause Marketing - ANSWER -When the charitable organizations partner up with companies to build awareness for a cause. (Dawn saves lives). 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. Corporate Social Responsability - ANSWER -The voluntary action taken by a company to address social, ethical, and environmental impacts as well as the concerns of their stakeholders. Consumerism - ANSWER -A social movement that is aimed at protecting consumers from business practices that infringe upon their rights. Internal Locus of Control - ANSWER -Having the belief that one has pure control over their outcomes External Locus of Control - ANSWER -Having the belief that one has no control over their outcomes and that they are controlled by outside factors. Compensatory Decision Rule - ANSWER -When consumer evaluates the trade offs and alternatives of one item to another. Noncomensatory Decision Rule - ANSWER -When consumers pick an item with the basis of its characteristics, without going into depth about the item. The Buying Centre - ANSWER -The group of people who are typically responsible for buying decisions in large corporations. Organizational Culture - ANSWER -Reflects the set of values, traditions, and customs that guide a firms employee behaviour.