WAEC 2018 MARKETING (OBJ & THEORY) ANSWER EXPO

Marketing Obj:

1-10: DBABCABCBB

11-20:BBAACCDAAA

21-30:DABDBABAAC

31-40: BCBDAABABB

41-50:ACCCDBAADB

(1a)

industrial product is a good used by a company for business consumption. It is distinct from a consumable good, which is purchased by individuals for personal and family consumption. 

-Example-

(i)Natural product

(ii)Farm Product

(1b)

consumer product is a product bought by final consumers for personal consumption. 

-Example-

(i)Convenience product

(ii)Shopping product

(1c)

Primary products are goods that are available from cultivating raw materials without a manufacturing process. 

-Example-

(i)agriculture product

(ii)fishing product

(1d)

secondary productProduct processed from raw materials that is not a primary product of the company or industry.

-Example-

(i)chemical product

(ii)plant/natural product

1b)

consumer product is a product bought by final consumers for personal consumption. 

-Example-

i)Convenience product

ii)Shopping product

1c)

Primary products are goods that are available from cultivating raw materials without a manufacturing process. 

-Example-

i)agriculture product

ii)fishing product

1d)

secondary productProduct processed from raw materials that is not a primary product of the company or industry.

-Example-

i)chemical product

ii)plant/natural product

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No 2

1. Marketing Research

keeps you focused on

your target consumers or

customers.

2. Marketing Research

helps you prioritize, so

you can focus on what

important.

3. Marketing Research

helps you determine

which options will be

most lucrative.

4. Marketing Research

gives you a competitive

advantage.

5. Marketing Research

helps you make better

decisions and reduces risk.

6. Marketing Research

keeps you relevant and

future focused.

2b)

i) To help and assist the in management decision marking 

ii) To assist an organisation in marketing planing 

iii) To help in approprate project managment 

iv) To find out the need of the consumers 

v) To solve a specific problem

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(4a) 

Transportation is the physical carriage or movements of finished products from the place of manufacturing to the place where it would be accessible and available to the largest audience either wholesalers, sales, agent, retailers and ultimately the final consumers. 

(4b) 

-Nearness to market

-Cost advantage

-Nature of the product

-Availabilty

-Handling

-Local conditions

(i) Nearness to market: When the market or the location of the ultimate consumer is very close to the producer, this most often determine the mode of transportation to use. 

(ii) Cost advantage: Marketing firms also consider cost variables as to cheapness of carrying a product. It is a major factor that determines the selling price of a product

(iii) Nature of the product: Perishability, durability, storage, frangibility of the product. It is difficult to transport vehicles, heavy plants or machinery by air. Therefore consideration should be given to heaviness.

(iv) Availability: A choice of transportation may also depend on availability. Some mode of transport are not Available in some area. In that kind of area, the product need to key into the available means of transport by either repackaging goods or by re-modifying the transporting strategy. 

(v) Handling: Some forms of transport can involve rough handling. For example, products transported by ship may be hauled aboard the vessel in a net or sling, stacked beneath dozens of other goods and subjected to moisture condensation. 

(vi) Local conditions : Take a look at the country you are shipping to. Are there many risks and weaknesses in its transport infrastructure? If the local ports have a bad reputation, or the road network isn’t upto standards, You’ll need to tailor yout strategy accordingly.

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(6a)

(i) personal capital

(ii) cooperative society

(iii) loan from bank

(iv) loan from friends and family

(6b)

(i) Nearest to the market; this can influence the location of new outlet considering the usefulness of the condemners

(ii) site and land: the availability of land can influence the location of new outlet

(iii) raw materials: the outlet must located close to where the raw materials can accessed easily

(iv) labour; the availability of cheap labourers can influence the location of the outlet. Labourers can be decreased

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(6a)

(i) personal capital

(ii) cooperative society

(iii) loan from bank

(iv) loan from friends and family

(6b)

(i) Nearest to the market; this can influence the location of new outlet considering the usefulness of the condemners

(ii) site and land: the availability of land can influence the location of new outlet

(iii) raw materials: the outlet must located close to where the raw materials can accessed easily

(iv) labour; the availability of cheap labourers can influence the location of the outlet. Labourers can be decreased.

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