WAEC 2017 expo Marketing 2 (Essay) & Marketing 1 (Objective) and objective runz Question,Answer Now Available -MAY/JUNEMARKETING OBJ:
MARKETING OBJ:
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MARKETING THEORY ANSWERS:
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.

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2a)
i)to promote the good image of an organisation
ii)to informs the public about the existence of product
iii)to educates the public about the benefit of a product
iv)to entertain the public in its presentation and packaging

2b)
-Advantages-
i)product to reach large number of people, both at regional as well as at national level.
ii)helps in conveying the message or advertisements with sound, visuals and actions.
iii)Itcan target large number of local people with local cable network channels and independent stations.

-Disadvantages-
i)Cost is very high.
ii)It short, thus they do not express much about the product
iii)It involves complicated procedure.
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4a)
Political:Legislations,laws,economic policies made at all levels bring a great influence on the marketing activities of an organisation than any other indices
4b)
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
4c)
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
4d)
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
4e)
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

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5a)
problem recognition The acknowledgement and definition of an issue that does or may arise during the performance of a process.

5b)
Information Search is a stage in the Consumer Decision Process during which a consumer searches for internal or external information.

5c)
Evaluating Alternatives During the evaluation of alternatives stage, the consumer evaluates all the products available on a scale of particular attributes.

5d)
Purchase decision is the thought process that leads a consumer from identifying need, generating options, and choosing a specific product and brand.

5e)
Post-purchase behavior is when the customer assesses whether he is satisfied or dissatisfied with a purchase.
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