Waec 2017 Marketing ObjAnd Theory Answers – May/June Expo

*Marketing obj 

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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)

i)Market research- is about gathering

information concerning your target

customers.

ii)Promotion Most business owners are familiar with the idea of promotion. 

iii)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. 

iv)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.

*2a)*

i. To promote the good image of an organization.

ii. To inform the public about the existence of a product.

iii.  To educate the public about the benefit of a product 

iv. To entertain the public in its presentation and packaging 

                 *2b* *ADV*

i. It’s very convenient and flexible means of advertising.

ii. To ensure that their msg is strong and persensive 

iii. It’s capable to reach lot of ppl i.e mass coverage. 

            *Disadvantage*

I. Television advertising cost more than others from of media 

ii.lack of regular power supply can discourage the media 

iii. Different technological immunisation enable customers to block advertisement all together

2a)

A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual or cyber form. Every product is made at a cost and each is sold at a price.
2b)
1.TimingIn some cases, a luxury product that’s been in planning stages for years is set to launch just as a major recession is starting.
2.Not Living Up To The HypeThere’s nothing worse than when the public feels like they’re being tricked.
3.Prohibitively Strong BrandingA strong brand can be a blessing and a curse. Consumers trusted Colgate for toothpaste, but it didn’t make sense when that name was put on the Colgate Kitchen Entrees.
4.Fixing What Ain’t BrokenCompanies that are already successful sometimes try to improve themselves but end up scaring off their already loyal consumers.

4a)

Political is attracting increasing interest and utility in public and media discussion
4b)

Cultural offers a unique shopping experience for locals and visitors alike. Nowhere else in Fredericton can you experience a traditional
4c)

technological the tools and platforms used by sales and marketing organizations to effectively complete their duties.
4d)

economic is where decisions regarding investment, production, and distribution are based on the interplay of supply and demand, which determines the prices of goods and services
4e)

social is sometimes seen only as using standard commercial marketing practices to achieve non-commercial goals, this is an oversimplification.

5 a )

problem recognition The acknowledgement and definition of an issue that does or may arise during the performance of a process.

5 b )

Information Search is a stage in the

Consumer Decision Process during which

a consumer searches for internal or

external information .

5 c )

Evaluating Alternatives During the evaluation of alternatives stage , the consumer evaluates all the products available on a scale of particular attributes .

5 d )

Purchase decision is the thought process that leads a consumer from identifying

need , generating options , and choosing a specific product and brand .

5 e )

Post – purchase behavior is when the

customer assesses whether he is satisfied or dissatisfied with a purchase .

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