WAEC

WAEC Marketing Questions And Answers 2022(Theory and Objectives)

WAEC Music Questions and Answers 2022
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Hi, guys in this whole page we are going to Provide all WAEC Candidates who are sitting for marketing as their own trade Subject, so if you really want to pass this exam you need to follow all our aid and effort to our students at myschoolgoodies.

The Current WAEC Marketing Questions And Answers 2022  according to the West African Examination Council

WAEC Marketing Questions and Answers

WAEC Marketing Questions and Answers:. I will show you WAEC Marketing goal and hypothesis rehashed inquiries free of charge. You will likewise comprehend how WAEC Marketing questions are set and a lot more assessment subtleties.

The West African Examination Council is an assessment body that set inquiries yearly from regions understudy ought to, after their investigations in senior optional school, have the option to compose and pass without pressure.

NOTE: Not yet the WAEC Marketing Questions and Answers: We are Going to publish the Answers before the  Exam Day Once they Gets to Us.

WAEC Marketing Questions and Answers Loading…………..


(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.

 

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.

 

___________________________________________________

 

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

 

A. SON

 

B. NPF

 

C. MAN

 

D. NAFDAC

 

6. The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the

 

A National Council on Privatization

 

B Securities and Exchange Commission

 

C Nigeria Investment Promotion Commission

 

D Bureau of Public Enterprises

 

7. The principle of indemnity is NOT applicable to

 

A. Life assurance

 

B. Accident insurance

 

C. Fire insurance

 

D. Marine insurance

 

See: WAEC Data Processing Answers

 

8. The advertising medium which combines sight and sound is the

 

A. Radio

 

B. Television

 

C. Print media

 

D. posters

 

Show Answer

 

9. The closure of the unregistered patent medicine stores is geared towards sound

 

A. economic environment

 

B. social environment

 

C. physical environment

 

D. legal environment

 

1O. The recommendation made by the Central Bank to the commercial banks in respect of their lending policy is known as

 

A. directives

 

B. moral suasions

 

C. advisory notes

 

D. consolidation

 

11. Waybill is a document driving details of goods sent by

 

A. public vehicle, train and air

 

B. train ad ship

 

C. ship alone

 

D. air alone

 

12. An association of the principal business concerns in an area is referred to as

 

A. Article of association

 

B. Memorandum of Association

 

C. Chambers of Commerce

 

D. Chambers of Companies

 

13. Commission salesman include the following except

 

A. Factors

 

B. Brokers

 

C. Del credere agents

 

D. Partners

 

14. Into which of the following two broad areas can trade be divided

 

A. home and foreign trade

 

B. wholesale and retail trade

 

C. imports and exports

 

D. visible and invisible trade

 

15. Which of the following is not true of sole proprietorship?

 

A. It has a separate legal entity

 

B. It has unlimited liability

 

C. It has slim chances of expansion

 

D. It can convert into a company

 

16. Commerce means

 

A. The creation of utility

 

B. Exchange of goods and services

 

C. Exchange and distribution of goods and services

 

D. Exchange and distribution of goods

 

17. The most common means of transport in the riverine area is

 

A. Bus

 

B. Canoe

 

C. Train

 

D. helicopter

 

18. Which of the following cheques could not be cashed across the counter?

 

A. Crossed cheque

 

B. Order cheque

 

C. Certified cheque

 

D. Bearer cheque

 

See: WAEC Government Questions and Answers

 

19. In marketing, any good or service that satisfies the consumer is called a

 

A. Place

 

B. Product

 

C. Promotion

 

D. price

 

2O. Which of the following is a non-consumable item in the office?

 

A. Furniture

 

B. Loose sheets

 

C. Office pins

 

D. File tags

 

21. One of the obstacles to achieving one objective of ECOWAS is

 

A. Lack of common currency

 

B. Colonial linkages

 

C. Sovereignty of states

 

D. Language differences

 

22. One of the main objectives of establishing the Niger River Basin Commission was to

 

A. Embark on a comprehensive survey of the available water resources

 

B. Carry out research for the development of fresh water fisheries

 

C. Develop infrastructures to facilitate economic activities

 

D. Promote trade among member-states to improve standards of living

 

23. The basic function of the Nigerian Port Authority is to

 

A. Ensure that the right caliber of personnel is employed at the ports

 

B. Coordinates and regulate the activities of shipping lines

 

C. Facilitate and control the movement of goods arid services into and out of the country

 

D. Coordinate the activities of all the seaports in the country

 

24. The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called

 

A. subrogation

 

B. contribution

 

C. re-insurance

 

D. identity

 

25. Goods imported to a country for the purpose of re-exporting attracts a rebate known as

 

A) customers drawback

 

B) export royalty

 

C) incentive

 

D) export rebate

 

26. The nominal value of a share as specified in the memorandum of association and the share certified is the

 

A. discounted value

 

B. stock value

 

C. face value

 

D. par value

 

27. “Caveat emptor” as a commercial legal word means

 

A. Let the seller beware

 

B. Let the producer beware

 

C. Let the buyer be awarded

 

D. Let the buyer beware

 

28. The main feature of a supermarket is the sale of

 

A. Office equipment only

 

B. Food stuff only

 

C. General household goods

 

D. Building materials

 

29. The ship that is used as a sea taxi is called

 

A. Linens

 

B.Tramps

 

C. Tankers

 

D. coasters

 

30. Which of the following is not a reward for labour

 

A. Profits

 

B. salaries

 

C. Wages

 

D. allowances

 

31. The person who calculates premium, sums assured and surrenders value in insurance contract is called

 

A. accountant

 

B. actuary

 

C. valuer

 

D. auditor

 

32.In the contract of sale of goods, let the buyer beware’ is signified by

 

A. del credence

 

B. caveat vendetta

 

C. caveat emptor

 

D. res ipsaloquitor

 

33. The main purpose of establishing a public corporation is to

 

A. provide employment

 

B. provide essential services

 

C. make profit

 

D. establish monopoly

 

34. Factorizing is a trade debt term used when the agent buys all the trade debts of the

 

A. Importer

 

B. Exporter

 

C. Nations

 

D. customers

 

35. Stevedores as a term in foreign trade means men who

 

A. inspect goods in ships

 

B. import goods by ships

 

C. collect duties

 

D. load and unload ships

 

36. A close indent is an instruction to an agent to

 

A. Order goods from a particular manufacturer

 

B. Order goods from any manufacturer

 

C. Sell goods in any form

 

D. Sell goods to a certain firm

 

37. Profit expressed as a percentage of the goods sold is referred to as

 

A. Margin

 

B. Mark up

 

C. Gain percentage

 

D. Gross profit

 

38. The main advantage of a sole trader is its freedom to

 

A. Employ anyone he likes

 

B. Seek advice from any source

 

C. Take quick decisions

 

D. Plough all the profits back into the business

 

39. In the case of voluntary liquidation of a business is (lie receiver is appointed by

 

A. Creditors

 

B. Debtors

 

C. Directors

 

D. Shareholders

 

40. When a company was more of loans than equity to finance its business, the company is said to be

 

A. Bankrupt

 

B. Solvent

 

C. High geared

 

D. In a strong liquid position

 

41. Rights issue means the

 

A. Issue of shares to the directors of a company on favourable firms

 

B. Issue of shares of a company only to the founder of the company

 

C. Rights of shareholder to vote on any issue

 

D. Issue of shares to shareholders on favourable terms

 

42. A term which indicates that a share is temporary suspended is

 

A. Ex-dividend

 

B. Un-dividend

 

C. Bond

 

D. stock

 

43. Excise duties are paid on goods that are

 

A. imported into the country

 

B. manufactured within the country

 

C. exported to other countries

 

D. kept in bonded warehouses

 

44. The business in the stock exchange is characterized essentially by

 

A. dealing

 

B. brokerage

 

C. speculations

 

D. transactions

 

45. The insurance policy which provides full cover against all risks at seas is known as:

 

A. policy with particular average

 

B. policy free of particular average

 

C. marine freight insurance

 

D. marine voyage policy insurance

 

46. A major liability of a commercial bank arises form

 

A. customers deposit

 

B. loans and advances

 

C. overdrafts

 

D. staff allowances

 

47. In the channel of distribution, which of the following sets is entirely made up of middle men?

 

A. Wholesales, retailers and agents

 

B. Manufacturers, consumers and retailers

 

C. Wholesales, agents and consumers

 

D. Retailers, manufacturers and wholesales

 

48. Most foreign trade transactions are paid through the use of

 

A. Central Bank cheques

 

B. Bank drafts drawn by commercial banks on their foreign branches

 

C. Irrevocable and confirmed letters of credits

 

D. Letters of credit authenticated by the embassies of the respective countries

 

49. The merger of two companies producing same type of produce is an example of

 

A. Vertical integration

 

B. Horizontal integration

 

C. Internal merger

 

D. An acquisition

 

Given:

Opening stock: ₦40,000.00

Purchases: ₦115,000.00

Closing stock: ₦60,000.00

Sales: ₦250,000.00

 

50. Which is the cost of goods sold?

 

A. ₦155,000.00

 

B. ₦95.000.00

 

C. ₦50,000.00

 

D. ₦30,000.00

 

51. The business organization in which shareholders have equal votes is

 

A. Sole proprietorship

 

B. Partnership

 

C. Cooperative

 

D. Limited liability company

 

52. One type of investment that has a variable income is

 

A. Debentures

 

B. Preferred shares

 

C. Government bonds

 

D. Ordinary shares

 

53. A public limited company can raise long term loans through

 

A. The capital market

 

B. The money market

 

C. Bank overdraft

 

D. Discount houses

 

54. The selling of article from place to place on foot is

 

A. Mailorder

 

B. Itinerant trading

 

C. Barter

 

D. Self service

 

55. Which of the following is the safest way of sending important document s through the post?

 

A. Registered mail

 

B. Parcel post

 

C. Letter post

 

D. Segmenting

 

56. Which of the following is an advertising function?

 

A. Packaging

 

B. Persuading

 

C. Grading

 

D. Segmenting

 

57. Unlimited liability in business implies that the

 

A. Risk of the owner is limited only to the amount invested

 

B. Debts are paid with subventions

 

C. Property of the owners should not’ be used to secure loans

 

D. Owners private property can be used to settle business debt

 

58. The practice of selling a product below the cost price to attract customers to a shop is known as

 

A. Hedging

 

B. loss leader

 

C. Skimming

 

D. Under-invoicing

 

59. The business environment that takes into cognizance the age distribution, ethnic mix and educational level of the consumer is

 

A. Demographic environment

 

B. Economic environment

 

C. Cultural environment

 

D. Natural environment

 

60. An announcement of a person’s willingness to enter into a contract is referred to as

 

A. A proxy

 

B. An offer

 

C. A consideration

 

D. An acceptance

 

More WAEC questions and answers on Marketing

 

1. A major function of an entrepreneur is

 

A. Decision-making

 

B. Encouraging competition

 

C. Human-resource training

 

 

 

D. Motivating employees

 

2. Which of these is a form of sales promotion?

 

A. Advertising on radio

 

B. Offering free samples

 

C. Distributing printed materials

 

D. Advertising on radio

 

3.Which of the following has the shortest effect on the consumer

 

A. Fashion

 

B. Innovation

 

C. Fad

 

D. attribute

 

4. What is the lifespan of a cheque which is drawn but not presented immediately for payment?

 

A. 30days

 

B. 2 months

 

C. 6 months

 

D. 12 months

 

5. Which of the following is not a function of money?

 

A. a medium of exchange

 

B. serves as a store of value

 

C. easily recongnisable

 

D. makes deferred payment possible

 

6. Who among the following does not function in the stock exchange market?

 

A. Bull

 

B. Broker

 

C. Jobber

 

D. Promoter

 

7. Which of the following does not influence the choice of a means of transport?

 

A. Distance

 

B. value of goods

 

C. Urgency

 

D. Brand of vehicle

 

8. Which of the following types of cheque protect the holder against risk of loss

 

A. Open cheque

 

B. Bearer cheque

 

C. Post-dated cheque

 

D. Crossed cheque

 

9. Establishing and maintaining mutual understanding between an organization and its customers is known as

 

A. Marketing concept

 

B. Advertising

 

C. Public relations

 

D. Sales promotion

 

10. Which of the following is sent by a supplier who does not want to sell on credit?

 

A. Proforma invoice

 

B. Quotation

 

C. Consular invoice

 

D. Advice note

 

11. Which of the following features is common to all retailers?

 

A. Operating as sole proprietors

 

B. Selling to the final consumers

 

C. Operating with small capital

 

D. Selling on hire purchase to consumers

 

12. Which of the following are exclusively functions of marketing?

 

A. Buying, pricing, selling and promotion

 

B. Risk-bearing, storage, production and transporting

 

C. Organizing, risk-bearing, transporting and storage

 

D. Production, promotion, distribution and recruiting

 

13. Which of the following describes the reason for international trade?

 

A. Balance of payment

 

B. Comparative cost advantage

 

C. Absolute cost advantage

 

D. Balance of trade

 

14. Which of the following implies that the price quoted includes the cost of insurance and carriage?

 

A) F.O.B

 

B) FASC

 

C) O.D

 

D) C.I.F

 

15. Which of the following has no limit to its membership?

 

A) Ordinary partnership

 

B) Private L imited Company

 

C) Limited Partnership

 

D) Co-operative Society

 

16. Which of the following does not lead to the dissolution of a partnership?

 

A) absence of a deed of partnership

 

B) withdrawal of a partner

 

C) incapacity of any of the partners

 

D) completion of contractual term

 

17. Which of the following are features of a limited liability company?

i. Separate legal entity

ii. Right to sue but not be sued

iii. Has its own corporate name

iv. the inability of members is limited

 

A) I, II and III

 

B) II, III and IV

 

C) I, II and IV

 

D) I, III and IV

 

18. When shares are sold “EX-D1V”, it means that

 

A) No dividend is paid on the shares

 

B) The buyer receives the dividend

 

C) The seller receives the dividend

 

D) The stock exchange receives the dividend

 

19. A retail outlet meant to sell only a particular manufacturer’s product is known as a

 

A) Co-operative Shop

 

B) Chain store

 

C) Department store

 

D) Tied shop

 

20. An unfavorable balance of trade for a country means that her

 

A) Exports exceed import

 

B) Visible imports exceed visible exports

 

C) Invisible export exceeds visible imports

 

D) Import & exports are equal

 

WAEC Marketing Essay and Objective 2022 (EXPO)

The above questions are not exactly 2022 WAEC Marketing questions and answers but likely WAEC Marketing repeated questions and answers and WAEC Marketing past questions.

 

These questions are for practice. The 2022 WAEC Marketing expo will be posted on this page today during the WAEC Marketing examination. Keep checking and refreshing/reloading this page for the answers.

 

WAEC Marketing Questions and Answers 2022 Loading…

 

Today’s WAEC Marketing Answers (2020 Answers)

 

(1ai)

(i) Television

(ii) Radio

(iii) Newspaper

(iv) Billboard

(v) Magazine

(vi) Cinema

 

(1b)

(i) It provides an edge for the company’s product in the competitive market

(iii) It boosts the business image of the company and strengthens the quality of its brand

(iv) It stimulates the company’s sales thereby increasing profit

 

(1c)

(i) Nature of the product

(ii) Cost of the service

(iii) Speed of Transport

(iv) Safety and security of the products

 

4a)

(i) To identify the problem areas in the company.

(ii) To understand the needs of existing customers and why they choose the services of the company over competitors.

(iii) To identify new business opportunities and changing market trends.

(iv) To recognize new areas for expansion, and increase customer base.

(v) To develop new, effective strategies by understanding the market based on market research results

 

(4b)

(i) Define the Problem or Opportunity

(ii) Develop The Marketing Research Plan.

(iii) Collect Relevant Data and Information.

(iv) Analyze Data and Report Findings

(v) Put The Research Results into Action

 

(5a)

(i) Name of product

(ii) Expiry date

(iii) Ingredients

(iv) Weight

(v) Manufacturer’s contact details

(vi) Direction/Instruction for usage

 

(5b)

(i) It gets consumer attention quickly

(ii) It helps for brand recognition

(iii) It creates a unique identity of the product

 

(5c)

(i) It reaches a wide audience

(ii) It grabs attention by combining sight and sound

(iii) It allow advertisers to create a long lasting and memorable brand and corporate image

 

(iv) It generate emotional responses from the viewer thereby increasing viewer trust for the product

 

(6a)

(i) Organizational buying behaviour involves purchasing goods and services to produce another good with the intention of reselling it while Consumer buying behaviour is where the final consumer buys goods and services for the personal consumption

(ii) In organizational buying behaviour, decisions are frequently made by several people while decisions are usually made by individuals in consumer buying behaviour

(iii) In Organizational buying behaviour, it may engage in lengthy decision process while in Consumer buying behaviour, Individual may make quick decision in purchasing

(iv) In Organizational buying behaviour, the buying is done in large quantity while in Consumer buying behaviour, individuals buys only the necessary quantity of goods which is usually small.

 

(6b)

(i) Technological factors

(ii) Policies

(iii) Organizational structure

 

(i) Technological factors: Technological factors also affect organizational behavior. This includes level of technology, pace of technology, technology transfer etc. E-commerce as well as information technology has got revolutionary change. It has directly affected organizational buying behavior.

 

(ii) Policies: Purchasing or buying policy also effects organizational buying behavior. Goods should be purchased according to buying policy of the organization. If the organization has the policy of buying indigenous goods, the buyer cannot buy foreign goods. If the purchasing policy is silent in this matter, whichever goods, foreign or indigenous, can be purchased as desired

 

(iii) Organizational structure: Organizational structure defines authority and relations which directly affects buying behavior. In some organizations, goods or services are purchased by direct order of chief executive while in some other organizations, goods or services are bought through purchase department. So, buying behavior is affected by organizational structure.

 

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MARKETING OBJECTIVES (OBJ) ANSWERS Loading

1-10: CACCBBDCAB

11-20: CACDCCDCDC

21-30: BDCAABABCD

31-40: CABBCCDCCB

 

Areas of Concentration on WAEC Marketing

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.

 

Marketing Concepts

(a) Meaning;

 

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

 

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.

 

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*

 

Markets

(a) Meaning;

 

(b) Classification:

 

– Consumer;

 

– Organization (industrial, reseller and government)

 

Consumer and Organizational Behaviour

(a) Meaning;

 

(b) Influencing factors;

 

(c) Decision process in logical order

 

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

 

Pricing

(a) Meaning;

 

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

 

competition);

 

ii Application of strategies*

 

(c) Price determinants.

 

Advertising

(a) Definition;

 

(b) Functions;

 

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

 

(d) Production of sample adverts*

 

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.

 

Merchandising

(a) Meaning;

 

(b) Elements (packaging, branding and labeling)

 

(C) Influencing factors;

 

(d) Functions.

 

Distribution

(a) Definition;

 

(b) Channels of distribution (definition and types)

 

(c) Factors influencing choice of distribution channels

 

(d) Functions of channel members.

 

Transportation

(a) Meaning, mode, choice and importance

 

(b) Documents used in transportation;

 

(c) Factors affecting choice of transportation

 

Warehousing

(a) Meaning, types and functions.

 

(b) Activities in the warehouse

 

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.

 

International Marketing

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

 

(b) Influencing factors;

 

(c) Guiding rules and regulations;

 

ICT in Marketing

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

 

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

 

Here we have the Original WAEC Marketing Questions And Answers 2022

(2a) Marketing refers to activities a company undertakes to promote the buying or selling of a product or service.

(2aii)
– Selling:
It is core of marketing. It is concerned with the prospective buyers to actually complete the purchase of an article. It involves transfer of ownership of goods to the buyer.

Buying and Assembling:
It involves what to buy, of what quality, how much from whom, when and at what price. People in business buy to increase sales or to decrease costs.

– Transportation:
Transportation is the physical means by which goods are moved from the places where they are produced to those places where they are needed for consumption. It creates place, utility.

-Storage:
It involves holding of goods in proper (i.e., usable or saleable) condition from the time they are produced until they are needed by customers (in case of finished products) or by the production department (in case of raw materials and stores); storing protects the goods from deterioration and helps in carrying over surplus for future consumption or use in production.

– Standardization and Grading:
The other activities that facilitate marketing are standardisation and grading. Standardisation means establishment of certain standards or specifications for products based on intrinsic physical qualities of any commodity.

(1ai)
Entrepreneurship is the act of creating a business or businesses while building and scaling it to generate a profit.

(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

NUMBER 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.

(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.

 

(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.

19 Excellent Tips How To Pass WAEC In One Sitting

Are you looking for how to pass WAEC ? in this post am going to share with you 19 Excellent Tips How To Pass WAEC In One Sitting make sure you read this article to the end and don’t forget to share it on social media.

  • DRAW A STUDY  PLAN;

  One of the most effective ways to make your waec papers in one sitting is by first of all drawing an intensive study plan which must be followed accordingly in other to archive the goals of a drawn plan.

A good study plan should include drafting a very intensive timetable according to the subjects you are sitting your focus should be on those key subjects you are about to write. the time to study those courses must be followed effectively and on account should you use the time for a particular drafted course for another. If you are a science or an art student you should note the general courses you are sitting in for too.

SEE ALSO: How To Pass Jamb 2021 – 10 Amazing Tips

the subjects of your specialty should have a long study time frame to enable you to cover up your waec scheme of work because those head courses are more difficult than your general courses which you must have been treating all along with right from your junior secondary.

a good study plan should include mapping out a good study environment to enable you to understand whatever thing you will study, which might include calculations, experiments, & even formulas and derivations .note that certain subjects are well understood under particular environments and weather conditions eg, your mathematical courses should be scheduled during the morning periods when the weather is calm or in the evening to avoid the distraction of any form due to weather conditions &activities. a comprehensive and intensive study plan produces tremendous aid to enable you to pass your Waec examination in one sitting.

  • HAVE A GOOD AND COMPREHENSIVE STUDY GUIDE:

 While preparing for your wassce examination you should know that having a good study guide is very vital. After all, you are not going to read topics word by word to infinity because your questions are coming from vast topics so is important you read in between lines study with Waec syllables and scheme of work to enable you to have in mind the particular topics you will focus on so you don’t waste your time reading on irrelevant topics is true is said no knowledge is a waste but the exam you sitting for is a special a difficult so you ought to be conscious so that you will e able to clear your exams just in one sitting because to much study cases in your head makes you  UN able to get concrete and detailed information’s.

 

  • STUDY YOUR PAST QUESTIONS

reading and going true your waec past questions is one of the major tips on How To Pass WAEC In One Sitting,  It enables and helps you to sit for your waec papers and clear them just in one sitting because they keep your mind and brain refreshed and aware of then kind of questions you will see even help in cases of repetition of course which occurs most time so studying you past question according to you subjects Is very vital.

SEE ALSO: How To Score Above 300 In Jamb 2021 -9 Unbeatable Techniques

 

  • DEVELOP A GOOD STUDY CHARACTER

a good study character entails that you should have rules and conditions to keep yourself while preparing for a serious examination such as waec, you don’t lay on the bed to read even laying on anything at all is abhorring you will sleep away so soon when you haven’t read a dame, sitting on the very well relaxed chair is inappropriate because you get tired easily and you will cover nothing in your scheme while your exams are fast approaching. note your best reading condition some read well width soft songs on their ears while some people can everybody aren’t they say some comprehend effectively on the very calm environment so they don’t need music’s and rhythms, some people understand well during the morning some evening while some even in a rowdy condition note that no two individual can be the same son know where your brain ability falls.

  •   

    LEARN TO STUDY WITH YOUR PEN AND JOTTER:   

it is very important that while reading you read with your pen and jotter to enable you to jot out vital points and figures and to solve mathematical expressions, for fast referencing purposes, and to enable you to take out your points. this is the most effective & intensive reading method.

 

  • Consider time factor :

Tick says the clock what you want to do quickly learn to manage your time very well,   regulate your time know when to rest, when to play and when to study. So you don’t mismanage your time even to get less result. switch your time. and also during your examination you are expected to must have finished attempt all necessary questions before the end of the scheduled time, this determines how fast you will be in attending to your question the faster you become the more it enables you to revise and cross-check your answers and enable you’ve because you can change the ones you weren’t correct about or sure of. time factor enables you to examine your work correctly.

  • CONVINCE YOUR EXAMINER WITH YOUR ANSWERS:

Do not even think of giving answers just because you felt is correct especially in the theory part of your question you must convince your lecturer that what you are saying is correct so he marks you high.

SEE ALSO: WAEC CHEMISTRY PAST QUESTIONS

  • AVOID USING ABBREVIATIONS

Do not even think of using abbreviations so you don’t complicate marking for your examiner no matter the subject in contest hence he is an external body may not be able to understand the abbreviations and customized jargon that you are using might affect the examiner he might even cancel what you wrote because he can’t understand well you very well.

Waec could be very difficult in one sitting, but with the right approach and measures put in place, you can smash it in one sitting with flying colors.

Make sure you don’t also depend on examination malpractices because you would get disappointed along the line.

Don’t forget to read with the appropriate curriculum and answer questions from the past questions.

having read the above post on How To Pass WAEC In One Sitting, it is now left for you to apply all the tips given above and see yourself excel in your WAEC examination.

 

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