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WAEC 2017 - MARKETING ESSAY AND OBJ ANSWER

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WAEC - MARKETING

EXAM TIME: Friday, 5th May, 2017
Marketing 2 (Essay) 09.30am – 11.30am
Marketing 1 (Objective) 11.30am – 12.20pm
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COMPLETED
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MARKETING OBJ:
1-10: CAABDDBBBC
11-20: BDCCCBCAAB
21-30: CBDCCBDAAA
31-40: ADABDDADBA


MARKETING THEORY ANSWERS:
(1a)
market refers to the group of consumers or organizations that is interested in the product, has the resources to purchase the product, and is permitted by law and other regulations to acquire the product

(1b)
-Market research- is about gathering information concerning your target customers
-Promotion; Most business owners are familiar with the idea of promotion
-Selling ;While we tend to think of selling and marketing as being closely linked, selling is last on the list of the seven functions of marketing
-Pricing; Setting the correct price for your product or service can be a challenge

1ci)
government market is a group of consumers that consists of local, state and federal authorities.the government market spends the most money of any other consuming group, and so presents an attractive marketing target for some businesses
1cii)
reseller market buyers who purchase with the intent of selling those products to others. The reseller market includes wholesalers, retailers, and distributors
1ciii)
Industrial marketing is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw materials

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2a)
- To promote the good image of an organization.
- To inform the public about the existence of a product.
- To educate the public about the benefit of a product 
- To entertain the public in its presentation and packaging 
2b)
Advantage
- it's very convenient and flexible means of advertising.
- To ensure that their msg is strong and persensive 
- It's capable to reach lot of ppl i.e mass coverage
Disadvantage
- Television advertising cost more than others from of media 
- lack of regular power supply can discourage the media 
- Different technological immunisation enable customers to block advertisement all together

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4a)
Political:Legislations,laws,economic policies made at all levels bring a great influence on the marketing activities of an organisation than any other indices
4b)
Cultural:It means that people and their socio-cultural customs and belief are fundamentally and basically what shape and determine the economy,political legal system and technology
4c)
Technological:This is the driving force for change in society and can be significant to marketer for a number of reasons.It can create better ways of satisfying existing needs and its identify latent needs
4d)
Economic:The existence of people of people has no meaning without money.Marketing programmes are affected by by economic growth interest rates.supply and demand for money price inflation and availability of credit
4e)
Social:This factor affect how and why people live behave as they do.It is essential factor because it has impact on the customer buying behaviour

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5a)
problem recognition The acknowledgement and definition of an issue that does or may arise during the performance of a process
5b)
Information Search is a stage in the Consumer Decision Process during which a consumer searches for internal or external information
5c)
Evaluating Alternatives During the evaluation of alternatives stage, the consumer evaluates all the products available on a scale of particular attributes
5d)
Purchase decision is the thought process that leads a consumer from identifying need, generating options, and choosing a specific product and brand
5e)
Post-purchase behavior is when the customer assesses whether he is satisfied or dissatisfied with a purchase.







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COMPLETED 
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