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WAEC Marketing 2022 Answers

Published By Naijalanded On Thursday, 18 April 2024, 1:46 AM

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WAEC Marketing Questions and Answers 2021. Objective and Essay answers (Expo), for the West Africa examination council (May/June 2022. WAEC Marketing Objective and Essay Answers. This post will provide you with repeated questions as well as the answers to your WAEC Marketing Marketing exam. This post will help you understand the WAEC Marketing objectives and answers.

WAEC 2022 MARKETING ESSAY AND OBJ

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Tuesday, 17th May, 2022
Marketing 2 (Essay)
09:30am – 11:30am

Marketing 1 (Objective)
11:30am – 12:20pm

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MARKETING-OBJ
1ABDBCDBDCB
11ABBDCCBCBD
21DBBDBCACCB
31BBAAACDBAA
COMPLETED!!!

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Marketing-ESSAY
Answers loading…..
(1)
(1ai)

Entrepreneurship refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world.

(1aii)

(i)Retained Earnings Businesses aim to maximize profits by selling a product or rendering service for a price higher than what it costs them to produce the goods. It is the most primitive source of funding for any company.

(ii) Debt Capital Companies obtain debt financing privately through bank loans. They can also source new funds by issuing debt to the public.

(iii)Equity Capital Companies can raise funds from the public in exchange for a proportionate ownership stake in the company in the form of shares issued to investors who become shareholders after purchasing the shares.

(iv)Personal investment

When starting a business, your first investor should be yourself either with your own cash or with collateral on your assets. This proves to investors and bankers that you have a long-term commitment to your project and that you are ready to take risks.

(1b)

(i)Availability of raw materials

(ii)Nearness to market

(iii)Availability of basic infrastructure

(iv)Economic policy

(v)Demographics

(vi)Psychographics
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(2)
2a)

Marketing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services.

(2aii)

(i)Promotion.

(ii)Selling.

(iii)Product/service

(iv)management.

(v)Marketing information management.

(vi)Pricing.

(2b)

(i)The Production Concept; The production concept is focused on operations and is based on the assumption that customers will be more attracted to products that are readily available and can be purchased for less than competing products of the same kind.

(ii)The Product Concept; The product concept is the opposite of the production concept in that it assumes that availability and price don’t have a role in customer buying habits and that people generally prefer quality, innovation, and performance over low cost.

(iii)The Selling Concept

Marketing on the selling concept entails a focus on getting the consumer to the actual transaction without regard for the customer’s needs or the product quality a costly tactic.

(iv)The Marketing Concept; The marketing concept is based on increasing a company’s ability to compete and achieve maximum profits by marketing the ways in which it offers better value to customers than its competitors.
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(3)
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(4)
(4ai)

need is a consumer ‘s desire for a product ‘s or service ‘s specific benefit, whether that be functional or emotional.

(4aii)

want is the desire for products or services that are not necessary, but which consumers wish for.

(4aiii)

exchange is a marketplace where securities, commodities, derivatives and other financial instruments are traded.

(4iv)

demand is the total quantity demanded across all consumers in a market for a given good.

(4v)

transaction is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets in return for money.

(4b)

Coming soon!!!
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(5)

No 5 (a)

Pick any four)
(i)Marketing planning provides direction for all organization marketing effort
(ii)Marketing planning help organization to raise finance for capital expenditure.
(iii)Marketing planning prevents time wasting on ineffectual marketing activities.
(iv)It save money by helping to ensure that the marketing budget is spent effectively
(v)It helps to identify. prerequisites to planned activities.
(vi)It helps to generate more clients by communicating effectively.

(5b)

(5bii)
(i)overseeing trade agreement
(ii)Reducing trade barriers
(iii)Reducing worldwide tariffs
(iv)Mediating dispute

(6a)

(Pick any Four)

(i)Derived Demand.

(ii)High concentration of production

(iii)Direct channel of distribution

(iv)Few Buyers And Large Volume.

(v)Professional buying

(6b)

(i)Industrial market: It involves set of all individuals and organizations that acquire goods and services that enter into the production of other products or services that are sold, rented, or supplied to others.

(ii)Reseller market:A market consisting of wholesalers and retailers who buy products for resale purposes.Resellers buy finished goods and resell them to the next level in a given distribution channel.

(iii)Government market: A government market is a market where the main buyers are federal, state, and local governmental organizations. They purchase goods or services from private businesses.

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Below is WAEC Marketing 2021 Answers

MARKETING OBJ:
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(6a)
(Pick any Four)
(i)Derived Demand.
(ii)High concentration of production
(iii)Direct channel of distribution
(iv)Few Buyers And Large Volume.
(v)Professional buying

(6b)
(i)Industrial market: It involves set of all individuals and organizations that acquire goods and services that enter into the production of other products or services that are sold, rented, or supplied to others.

(ii)Reseller market:A market consisting of wholesalers and retailers who buy products for resale purposes.Resellers buy finished goods and resell them to the next level in a given distribution channel.

(iii)Government market: A government market is a market where the main buyers are federal, state, and local governmental organizations. They purchase goods or services from private businesses.

(1a)
(Choose Any Five)
(i)Rent Rates & Taxes.
(ii)Workforce Availability, Labor Skills & Costs.
(iii)Roads, Highways & Traffic Flow.
(iv)Proximity to Airport, Railway Stations & Ports.
(v)Markets & Local – Environment Factors.
(vi)Building Availability & Utility Costs.

(1b)
(i)Receiving: operations that involve the assignment of trucks to docks, the scheduling and execution of unloading activities.
(ii)Storing: material’s movement from unloading area to its designated place in inventory.
(iii)Order Picking: the process of obtaining the right amount of the right products for a set of customer orders.
(iv)Shipping: execution of packing and truck’s loading after picking, involving also the assignment of trucks to docks
(v)Delivery: the transit time for transportation from the warehouse to the customer.

(2a)
(i) By chatting with unknown people
(ii)By sending and receiving pornography
(iii)By using bad language for e marketing
(iv)By pretending to be someone else
(v)By changing the internet address
(vi)By changing the voice mode while chatting

(2b)
(i) It will help to reduces the code of advertisement to Ajax LTD
(ii)It will helps the company to track the rate of return on their investment
(iii)It will helps to research on many customers at the same time
(iv)It will enables Ajax LTD to personalize messages effectively
(v)It will helps the company to know the number of their customers effectively.(5a)
(Pick any four)
(i)Marketing planning provides direction for all organization marketing effort
(ii)Marketing planning help organization to raise finance for capital expenditure.
(iii)Marketing planning prevents time wasting on ineffectual marketing activities.
(iv)It save money by helping to ensure that the marketing budget is spent effectively
(v)It helps to identify. prerequisites to planned activities.
(vi)It helps to generate more clients by communicating effectively.

(5b)

(5bii)
(i)overseeing trade agreement
(ii)Reducing trade barriers
(iii)Reducing worldwide tariffs
(iv)Mediating dispute

Answers Loading……

2022 WAEC Marketing Questions & Answers

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