Waec 2018 Marketing OBJ & Theory/Essay QUESTION AND ANSWERS is now available .

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Marketing OBJ:
industrial product is a good used by a company for business consumption. It is distinct from a consumable goods, which is purchased by individuals for personal and family consumption.
i)Natural product
ii)Farm Product
consumer product is a product bought by final consumers for personal consumption.
i)Convenience product
ii)Shopping product
Primary products are goods that are available from cultivating raw materials without a manufacturing process.
i)agriculture product
ii)fishing product
secondary product is Products processed from raw materials that are not a primary product of the company or industry.
i)chemical product
ii)plant/natural product.

i) To solve a specific problem
ii) To identify the causes of a problem in an organisation
iii) To find out the need of the customer
iv) To help in appropriate project management
v) To help and assist the management in decision making

I) price off: this is when discount are given to customers for buying large quantity of a particular products
ii) salesman competition: when a company goods each sakes representative a target and at the end there is a benefit attached
iii) free gifts: this is a money of making customer purchase a particular products more by given them gifts.
iv) premium offer: is a scale promotion technique where the customer are given two or more products and they pay lower than the price of combine products
v) samples: this is the act of getting know of different products in market through careful design and analysis
Transportation provides the physical means of carrying goods and persons from one place to another. In other words, it is concerned with carrying the goods from the places of production to the places of their consumption
i)Comfort – This factor is at times ignored while some makes it priority depending upon the affordability. This is essential in case of travelling and ignored in case of transporting goods.
ii)Safety – Considering the increased cases of accidents safety becomes another important factor. Anyone will wish to ensure maximum available safety for their loved ones.
iii)Speed – This factor is another most important and deterministic factor depending upon the situation. Fastest mode may seem to be best
iv)Accessibility – This primarily deals with the ease of getting.boarding a vehicle. If a mode is not easily accessible then it loses its usefulness because of its unavailability in a certain condition.
v)Cost- It can also be linked to affordability of the user. This factor is one of the most dynamic as the willingness to pay changes on the basis or urgency and need to travel/transport.
vi)Integration with other modes – For long trips or trips which requires change of mode this factors becomes most significant for completion of the trip.
Market union is an organization whose membership consists of marketers and union leaders, united to protect and promote their common interests.
i)Standardization And Grading: Standardization and grading of products are the other important functions of marketing.
ii)Financing: Finance is as necessary in marketing as in production of goods or services.
iii)Risk-taking; Risk-taking is the other important facilitating functions of
iv)To identify and source potentially successful products for the marketplace and then promote them by
differentiating them from similar products.
i) personal capital
ii) cooperative society
iii) loan from bank
iv) loan from friends and family
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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See the Previous WAEC Theory and Objective answers below


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
-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.


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
reseller market buyers who purchase with the intent of selling those products to others. The reseller market includes wholesalers, retailers, and distributors
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.


Political:Legislations,laws,economic policies made at all levels bring a great influence on the marketing activities of an organisation than any other indices
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
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
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
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


problem recognition The acknowledgement and definition of an issue that does or may arise during the performance of a process
Information Search is a stage in the Consumer Decision Process during which a consumer searches for internal or external information
Evaluating Alternatives During the evaluation of alternatives stage, the consumer evaluates all the products available on a scale of particular attributes
Purchase decision is the thought process that leads a consumer from identifying need, generating options, and choosing a specific product and brand.

Post-purchase behavior is when the customer assesses whether he is satisfied or dissatisfied with a purchase.

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