2023 WAEC Marketing Questions and Answers
The West African Examination Council (WAEC) Has Scheduled The 2023 WAEC Marketing Questions and Answers Paper To Kick of on Thursday 22nd June, 2023.
This brings the attention of candidates writing the exam in to searching for 2023 WAEC Marketing Questions and Answers, WAEC marketing Expo 2023, and etc.
2023 WAEC Marketing Questions and Answers
In this section, you will read the steps and requirements needed for you to get Waec Marketing 2023 Questions And Answers before exam.
WAEC Marketing 2023 Paper is Categorized in to 2 parts:
- WAEC Marketing Theory 2023
- WAEC Marketing Objective 2023
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WAEC Marketing Expo 2023
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WAEC Marketing Answer 2023
MARKETING OBJ
01-10: AACBAAADAC
11-20: DACBABDBAC
21-30: BCADCBAABB
31-40: AACBDDDABB
COMPLETED
(1a)
(PICK ANY FIVE)
(i)Wholesalers act as intermediaries between manufacturers or producers and retailers
(ii)Wholesalers purchase goods in large volumes and break them down into smaller quantities suitable for retailers or other businesses.
(iii)Wholesalers are responsible for arranging the transportation of goods from manufacturers to their warehouses and subsequently to retailers or other customers
(iv)Wholesalers may engage in repackaging or relabeling of products to suit the requirements of different retailers or customers
(v)Wholesalers often inspect the quality of products they receive from manufacturers to ensure they meet the required standards
(vi)Wholesalers may provide credit or financing options to retailers, enabling them to purchase goods on flexible payment terms.
(vii)Wholesalers are closely connected to the market and have insights into consumer trends, demands, and preferences.
(viii)Wholesalers often provide support services such as handling product returns, warranties, or repairs on behalf of the manufacturer
(1b)
(PICK ANY FIVE)
(i)Nature of product: Nature of product has influence on the selection of a channel of distribution. In the case of industrial goods like machinery etc ,the manufacturer sells directly to industrial user, but in the case of tools, sales take place through middlemen.
(ii)Nature of market: Choice of suitable channel of distribution also depends on the nature of market. Location of the market and the buying habits of buyers are also analysed.
(iii)Distribution expenses: If the producer makes direct selling, he will have to spend on distribution. But, if the product gets good response from the dealers, a producer will prefer to sell through them to reduce his distribution expenses
(iv)Natural cooperation: Choice of channel of distribution on the mutual cooperation between the manufacturer and the dealers
(v) Company consideration: The character of the company also influences the selection of channel. If the management lacks marketing know how, it may prefer to depend on middleman.
(vi)Prompt payment: A producer may not like to sell to retailers or big consumers because they insist to make purchase on credit. Therefore he will prefer to sell to a wholesaler who purchases usually on ready cash
(vii)Popularity of goods: If the goods are popular among the consumer, the dealers themselves come forward to buy. Then the producer may not like to open his own shops to sell the goods
(viii)Price and Profit: Where the price of the goods is low and the profit margin is small, the producer sells through middle man. It is profitable for the producer to sell through the dealers.
(2a)
(i)Need Identification: Mr. Oke recognized the need to purchase a television set for his family. This step involves identifying the requirements, preferences, and specifications of the product to meet his family’s entertainment needs.
(ii) Research and Evaluation: After identifying the need, Mr. Oke conducted thorough research on different television models, brands, features, and prices. He gathered information from various sources
(iii)Decision Making: Once Mr. Oke had gathered sufficient information, he analyzed the available options and compared them against his requirements and budget.
(iv)Purchase and Post-Purchase Evaluation: After finalizing his decision, Mr. Oke proceeded with the actual purchase of the chosen television set. He identified the most reliable retailer and made payment.
(2b)
(PICK ANY FIVE)
(i)Organizational goals and objectives: The committee’s buying behavior is influenced by the goals and objectives of the organization.
(ii)Budget and financial considerations: The financial resources available to the committee can greatly influence their buying behavior.
(iii)Organizational policies and procedures: Committees often have to adhere to specific organizational policies and procedures when making purchasing decisions.
(iv)Stakeholder input and influence: Committees are composed of multiple individuals representing various departments or functions within the organization
(v)Product specifications and quality: The specifications and quality of the product or service being considered will impact the committee’s buying behavior.
(vi)Vendor reputation and relationships: The reputation and relationships with potential vendors can influence the committee’s buying behavior.
(vii)Market trends and external factors: Committees also consider market trends, industry developments, and external factors that could impact their buying decision.
(4a)
[PICK ANY FOUR]
(i) Product
(ii) Price
(iii) Place
(iv) Promotion
(v) People
(vi) Process
(4b)
[PICK ANY FOUR]
(i) Economic Factors: These include economic conditions exchange rates inflation rates and interest rates. These factors can affect consumers’ purchasing power and can impact the marketing mix strategy.
(ii) Technological Factors: These include technological advancements that can impact the product pricing distribution and promotion. For example advancements in eCommerce have impacted the distribution strategy for many companies.
(iii) Social Factors: These include cultural demographic and social trends that can impact consumers’ behaviors and preferences. For example companies have had to change their advertising campaigns to reflect social and cultural changes.
(iv) Political Factors: These include government regulations taxes and policies that can impact the marketing mix strategy. For example the implementation of a carbon tax may impact the pricing strategy for companies.
(v) Legal Factors: These include laws and regulations that can impact the marketing mix strategy such as consumer protection laws data protection laws and advertising regulations.
(vi) Environmental Factors: These include environmental issues and concerns that can impact the marketing mix strategy such as the use of environmentally-friendly materials in products and packaging and initiatives to reduce carbon footprint.
(5a)
(PICK ANY FIVE)
(i) Jo-Bo should ensure a different variety of products are available in his retail outlet to cater to different customer preferences and needs.
(ii) Jo-Bo should focus on providing high-quality products that meet or exceed customers expectations.
(iii) Jo-Bo should offer competitive prices for his products compared to other retailers in the area.
(iv) Jo- Bo should Provide excellent customer service for customer retention.
(v) Implementing a loyalty program or offering incentives such as discounts or reward points, for repeat customers.
(vi) Jo-Bo should ensure his retail outlet is visually appealing and well-organized.
(vii) Jo-Bo should engage in effective marketing strategies to create awareness and attract new customers.
(viii) Jo-Bo should actively seek feedback from customers to understand their needs and preferences better.
(5b)
(PICK ANY FIVE)
(i) By starting his own retail outlet, Jo-Bo can become financially independent.
(ii) Running a business allows Jo-Bo to gain valuable entrepreneurial experience.
(III) By establishing his retail outlet, Jo-Bo contributes to job creation in his neighborhood.
(iv) As the owner of his business, Jo-Bo has the freedom to set his own working hours and make decisions independently.
(v) He will be able to learn continously and experience personal growth.
(vi) Establishing a retail outlet in his neighborhood can earn Jo-Bo recognition and respect from the community.
(vii) If Jo-Bo’s retail outlet proves successful, he can consider expanding his business.
(viii) Building a successful business can potentially lead to long-term wealth creation for Jo-Bo.
More Answers Coming……….
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