WAEC 2020/2021 MARKETING OBJECTIVES & THEORY ANSWERS TO QUESTIONS

WAEC 2020/2021 Marketing Objectives & theory Answers to Questions. Welcome, You are ready to Answer WAEC 2020 Marketing questions, keep calm and follow everything we have for you concerning this particular Exams.But before we go into details, WAEC Marketing answers 2020, WAEC 2020 Marketing questions and answers. There are many secretes concerning The West African Examinations. WAEC 2020 Marketing Exams answers are very common, but how sure are you about the answers? Here we are going to guide you on WAEC 220 Marketing Answers to questions.

WAEC 2019/2020 Marketing Objectives & theory Answers

WAEC Marketing 2020 Objectives Answers

WAEC 2020 Marketing Answers is another section of the exams whereby you will be required to chose the correct options. The options may range from A to D or you may be required to take True or False. To answer these questions correctly, kindly read the questions at least 3 times. These will help you to pass the WAEC 2020 Marketing questions very well.

WAEC Marketing Theory Answers 2020

WAEC Marketing theory Answers also know as Essay answers. These section requires that candidate chose the questions from his or country and answer. The numbers of questions required Will be mentioned in the exam questions paper.

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How to Answer WAEC Marketing Questions

  1. Before you Answer WAEC 2020 Marketing questions make sure you:

2. Pray to God your Creator and the giver of success

3. Carefully read and follow the instructions in the exam questions paper

4. Start With the questions you know very well

5. Avoid unnecessary distraction from others

6. Make sure you are conscious to the time allowed

7. Fill in all your details were it is required.

WAEC Marketing Past Questions and Answers

Below are waec 2019 Marketing Past Questions

WAEC Marketing Answers 2020

SECTION A OBJ

  1. Introduction to Marketing

(a) Meaning;

(b) Explanation of basic terms in marketing: needs, wants, demands,

product, exchange, transactions, and markets,

(c) Brief history of marketing in Nigeria;

(d) Functions of marketing.

  1. Marketing Concepts

(a) Meaning;

(b) Various marketing concepts (production, product, selling, marketing and societal marketing).

  1. Marketing Mix and Marketing Environment

(a) Meaning;

(b) Elements;

(c)i Explain Marketing Environment

(c)ii Factors affecting marketing environment:

– political;

– cultural;

– religious;

– economic;

– technological;

– social.

  1. Products

(a) Meaning;

(b) Classification (Industrial goods, consumer goods,

services, primary and secondary products and mineral products-oil and non oil;

(c) Distinctions between classes of products.

(d) Product Design*

  1. Markets

(a) Meaning;

(b) Classification:

– Consumer;

– Organization (industrial, reseller and government)

  1. Consumer and Organizational Behaviour

(a) Meaning;

(b) Influencing factors;

(c) Decision process in logical order

  1. Marketing Planning and Research

(a)i Meaning, process and importance;

ii Elements of marketing planning;

iii Information required for marketing planning

(b) Reasons for marketing planning and research.

(c) Utilization of feedback

  1. Pricing

(a) Meaning;

(b)i Strategies (haggling, cost-plus, demand and

competition);

ii Application of strategies*

(c) Price determinants.

  1. Advertising

(a) Definition

(b) Functions;

(c) Media – meaning, types, advantages and disadvantages.

(d) Production of sample adverts*

  1. Sales Promotion

(a) Meaning and Functions;

(b) Forms – price-off, coupons, salesmen competition,

loyalty schemes, premium offers, trade-in-allowance,

sampling, training schemes, and merchandising incentives.

  1. Merchandising

(a) Meaning;

(b) Elements (packaging, branding and labeling)

(C) Influencing factors;

(d) Functions.

  1. Distribution

(a) Definition;

(b) Channels of distribution (definition and types)

(c) Factors influencing choice of distribution channels

(d) Functions of channel members.

  1. Transportation

(a) Meaning, mode, choice and importance

(b) Documents used in transportation;

(c) Factors affecting choice of transportation

  1. Warehousing

(a) Meaning, types and functions.

(b) Activities in the warehouse

  1. Market Unions and Facilitators

(a) Market Unions (Meaning and types)

(b) Roles of Market Unions in local markets;

(c) Market Facilitators – meaning, types and roles.

  1. International Marketing

(a) Meaning, importance/reasons and methods of engaging in international marketing,

(b) Influencing factors;

(c) Guiding rules and regulations;

  1. ICT in Marketing

(a) E-Marketing (electronic marketing) – meaning, ,importance, uses,ethics and abuses.

  1. Entrepreneurship in Marketing

(a) Meaning of entrepreneurship and entrepreneur;

(b) Sources of funds;

(c) Factors affecting location of a market outlet;

(d) Management of market outlets – purchase and supply of goods and services;

(e) Selling and bargaining skills;

*Emphasis should be on practical

Below is WAEC Marketing Questions and Answers 2019/2020 to OBJ/ESSAY

  1. The performance of business activities that direct the flow of goods and services from producer to consumer is
    A. distribution.
    B. marketing.
    C. advertising.
    D. promotion.
  2. Goods produced for immediate use by a household is classified as
    A. industrial goods.
    B. market goods.
    C. durable goods.
    D. consumer goods.
  3. Which of the following is not a component of marketing mix?
    A. Price
    B. Product
    C. Profit
    D. Promotion
  4. Which of the following is not influenced by consumer behavior?
    A. Life style
    B. Culture
    C. Religion
    D. Distribution
  5. In Nigeria, the body that ensures that its members operate according to their professional ethics is the
  1. A) SON
  2. B) NPF
  3. C) MAN
  4. D) NAFDAC
  5. The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the
  1. A) National Council on Privatization
  2. B) Securities and Exchange Commission
  3. C) Nigeria Investment Promotion Commission
  4. D) Bureau of Public Enterprises
  5. The principle of indemnity is NOT applicable to
  1. A) Life assurance
  2. B) Accident insurance
  3. C) Fire insurance
  4. D) Marine insurance
  5. The advertising medium which combines sight and sound is the
  1. A) Radio
  2. B) Television
  3. C) Print media
  4. D) posters

The 2019 waec marketing theory answers

Below are the 2019 waec marketing theory answers for you.

(1a) what is pricing?

Pricing can be defined as the amount/anything that is being used to facilitate change

(1b) Explain Marketing concept.

Marketing concept is premised on the identification and determination of the needs and wants of the prospective clients or customers,therefore the business firm must adapt to the 4ps of the marketing mix ie price,product,place and promotion to ensure efficiency and effectiveness of meeting and satisfying the needs and wants of the customers

(1c)
-Product
-Price
-Place
-Promotion

-Product:This connotes the broad concept that encompasses the satisfaction of all consumer needs in relation to a good,service or idea.It includes making decisions about customer service,package design,brand names,trademarks,warranties,product development,quality, feature and packaging

-Price:Price is the amount that is used to facilitate exchange.Price is the most sensitive one because customer sensitive marketing mix because customer respond more to price strategy.

-Place:This is otherwise refers to as distribution,time utilities and they conditions that enable consumers and business users to have product available for use when and where they want them.

(2a) 2019 waec marketing theory answers for Q 2.
A product is defined as a good,services or idea consist values tangible and intangible attributes that satisfies consumers and is received in exchange for money and some offer units of values

(2b)
Product is used in marketing strategy discussion while production concepts is used for manufacturing

(2c)
-Failure to understand customer needs and wants
-Fixing a non-existent problem
-Targeting of wrong market
-Incorrect pricing
-Weak teams and internal capabilities
-Prolonged development
-Delayed entry
-Poor execution

4a) 2019 waec marketing theory answers for Q 4.
Quality is a measure of excellence or state of being free from defects, deficiencies and
significant variations

4bi)
Intensive distribution is a marketing strategy under which a company sell through as many outlets as possible, so that the consumers encounter the products virtually everywhere they go; supermarket, drug store etc

4bii)
In intensive distribution, the producers products are stocked in the majority of outlets. In selective distribution, the producer relies on a few intermediaries to carry their product

4biii)
Exclusive distribution is an extreme form of selective distribution in which only one wholesaler, retailer or distributor is used in a specific geographical area. When a firm
distributes its brand through just one or two major outlets in d market, which exclusively
deal in it and not all competing brands, it is said that the firm is using exclusive distribution strategy

4c)
i) Not Keeping Promises
ii) Poor Customer Service
iii) Rude Staff
iv) No Omni-channel Customer Service
v) Not Listening to Customers
vi) Low Quality of Products or Services

(5a)
Sale promotion may be defined as methods which last for specified period adopted by manufacturers aimed at bringing the existence of goods or introduction of new ones to the knowledge of consumers and to boost sales.

(5b)
-To inform the public of the places prices and method of obtaining the goods advertised
-It is also aimed at increasing sales and profits of firm
-It is also used to informs the customers of the benefits of goods advertised
-It informs the public about the existence of new goods or service
-It is also used to create demand

(5c)
-It arouses the interest of the buyers
-It creates product awareness
-It gives rooms for demonstration
-It allows the buyers to negotiate for better prices and other favourable terms

6a) 2019 waec marketing theory answers for Q 6
i)Conducting Market Research: Marketing managers carry out market research to gain a clear understanding of what an organization’s customers really want.

ii)Developing the Marketing Strategy Marketing managers are responsible for developing marketing strategies for their organizations.

iii)Customer Relationship Management:The marketing manager performs the function of championing customer relationship management in the organization.

iv)Employee Management:Marketing managers are in charge of the marketing department and therefore are responsible for employees within their department.

v)Identifying New Business Opportunities: Marketing managers analyze market trends with an aim of identifying unexploited or new markets for the organization’s products and services.

6b)
i)Respond as quickly as possible:One of the biggest factors in good customer service is speed, especially when a client is requesting something that’s time sensitive.

ii)Know your customers: Great interactions begin with knowing your customers wants and needs. Customers love being personalized. Get to know your customers, remember their
names and previous conversations.

iii)Fix your mistakes: Not taking responsibility of your mistakes is a sure fire way to getting a bad reputation. Transparency is important in business and customer service is no different.

iv)Go the extra mile: Going the extra mile will not only result in an indebted and happy customer, it can also go a long way in terms of keeping yourself on their radar for future business.

v)Think long term – A customer is for life: Think long term when dealing with customers. By keeping customers happy, they will be loyal and through word of mouth, will do the marketing for you.

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