MKT 100 Midterm Exam Questions and
Answers Graded A+
Marketing - Correct answer-A set of business practices that are designed to plan for
and present an organizations products or services in ways that build effective
customer relationships.
Marketing Plan - Correct answer-A plan that is set out depicting the current market
situation, including opportunities and threats for the firm. The plan also includes
marketing strategies in terms of the 4 P's.
Pro Formula - Correct answer-
Market - Correct answer-The group of people who need or want a company's
product or service, and are willing to buy them.
Target Market - Correct answer-The customer group to whom the firm is interested
in the product you will sell.
Exchange - Correct answer-The trade of things of value between the buyer and the
seller, so that each is better off as a result. An example of an exchange is the selling
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, a of cupcake, you get the satisfaction of eating the cupcake, and the baker gets the
satisfaction of receiving money for the work they did.
Marketing Mix - Correct answer-Product, Place, Price, Promotion
Good - Correct answer-Item that can be physically touched
Service - Correct answer-Non object service benefits. Such as a repairman.
Price - Correct answer-The overall sacrifice a customer is willing to make. Money,
time, energy.
B2C - Correct answer-Business to Consumer, The process in which businesses sell
to customers. An example, is a clothing store.
B2B - Correct answer-Business to Business, The process of one company selling
merchandise. or services to another. An example is a logging company selling
wood to a furniture maker.
C2C - Correct answer-Customer to Customer, the process of consumers selling to
consumers. An example is the use of Kijiji, or holding a garage sale.
Social Media - Correct answer-The use of digital tools to easily and quickly create
and share content to foster dialogue, social relationships, and personal identities.
Value - Correct answer-Reflects the relationship of benefits to costs, or what the
consumer gets for what what they give.
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Answers Graded A+
Marketing - Correct answer-A set of business practices that are designed to plan for
and present an organizations products or services in ways that build effective
customer relationships.
Marketing Plan - Correct answer-A plan that is set out depicting the current market
situation, including opportunities and threats for the firm. The plan also includes
marketing strategies in terms of the 4 P's.
Pro Formula - Correct answer-
Market - Correct answer-The group of people who need or want a company's
product or service, and are willing to buy them.
Target Market - Correct answer-The customer group to whom the firm is interested
in the product you will sell.
Exchange - Correct answer-The trade of things of value between the buyer and the
seller, so that each is better off as a result. An example of an exchange is the selling
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, a of cupcake, you get the satisfaction of eating the cupcake, and the baker gets the
satisfaction of receiving money for the work they did.
Marketing Mix - Correct answer-Product, Place, Price, Promotion
Good - Correct answer-Item that can be physically touched
Service - Correct answer-Non object service benefits. Such as a repairman.
Price - Correct answer-The overall sacrifice a customer is willing to make. Money,
time, energy.
B2C - Correct answer-Business to Consumer, The process in which businesses sell
to customers. An example, is a clothing store.
B2B - Correct answer-Business to Business, The process of one company selling
merchandise. or services to another. An example is a logging company selling
wood to a furniture maker.
C2C - Correct answer-Customer to Customer, the process of consumers selling to
consumers. An example is the use of Kijiji, or holding a garage sale.
Social Media - Correct answer-The use of digital tools to easily and quickly create
and share content to foster dialogue, social relationships, and personal identities.
Value - Correct answer-Reflects the relationship of benefits to costs, or what the
consumer gets for what what they give.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
