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(MARKETING OBJ:
1-10: ABBDBBBCDD
11-20: ABDDCDCABC
21-30: CCAABBBADB
31-40: ACDABBBCAD

(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 p*********y
(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)
The organization formed by Mrs Janet with other dry fish sellers is World Trade Organization (WTO)

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

Past WAEC 2021 MARKETING Theory and Objective answers below

Marketing OBJ:
1-10: DCAADBADCA
11-20: ADCABAACBB
21-30: BCCACCADAC
31-40: AACCBCACBC

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MARKETING ANSWERS
(1a)
(i)Color
(ii)Landscaping
(iii)Texture
(iv)Communication

(1b)
(i)Planning
(ii)Directing
(iii)Coordinating
(iv)Analysing past sales figures/trends to anticipate future product needs.
(v)Devising a merchandise plan using the above techniques.
(vi)Relaying the merchandise plan to the buyer who, in turn, can decide on what products, styles, colours etc

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(2a)
(i) This era gave rise to marketing departments
(ii) The era gave rise to marketing companies.
(iii) It led the relationship marketing and social media
(iv )mobile marketing was introduced
(v) The use of technology in marketing

(2b)
(i) Buying: It involves what to buy, what quality, how much, from whom, when and at what price. People in business buy to increase sales or decrease costs.
(ii) Selling: This is providing a way to give your customers what he wants. You can sell your product directly to the customer or sell it at wholesale price to retailers.
(iii) Storage: It involves the keeping of goods in proper condition from the time they are produced until they are needed by customers.
(iv) Financing: This refers to how your business will. Obtain the money it needs to start operations and stay operable.
(v) Transportation: This is the physical means whereby goods are moved from the place where they are produced to where they are needed for consumption.
(vi) Processing: This involves turning a raw product like wheat into something the consumer can use, Egg bread
(vii) Promoting: A product or service is useless to your business if no one knows about it

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(3a)
(i) Product concept: This is a marketing concept that assumes that customers will favour those products that offer the most quality for the price and therefore it is paramount for companies and industries to produce quality products. Customers will always go for quality brands and products as it is easy for them to distinguish them.
(ii) Selling concept: Selling concept ensures that once a product is produced, it is backed up by some strategies on how to make it sell. For instance, advertising and personal selling methods are used hence any strategy that will beat the competition in the market is adopted.
(iii) Production concept: This focuses on the idea that’s firm should focus more on those products that it can produce more efficiently, and as well the production of low-cost products. The concept focuses more on the ability to produces and less on the customer’s satisfaction, it assumes that customers will favor those products that are available and affordable. Hence, the major focus is production and distribution.
(iv) Social Marketing concept: This concept ensures that for a company to only focus on exchange relationships with customers might not be to sustain long-term success. Hence the strategy works to deliver values to customers in a way to improve the customers and societal well-being. Hence, social and ethical considerations are maintained in production.

(3b)
(i) Initial price of product = N4000
Selling price = N6000
Mark up = N6000 – N4000 = N2000

(ii)

(iii) Percentage markup on selling price =
Mark up/selling price × 100/1
= 2000/6000 × 100/1
=33.3%

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(4a)
An entrepreneur is an individual who, rather than working as an employee, founds and runs a small business, assuming all the risks and rewards of the venture.

(4bi)
(i)Basic human psychology.
(ii)Listening skills.
(iii)Prospect filtering.
(iv)Strategic positioning.

(4c)
(i)Establishing a Daily Routine: Many successful entrepreneurs develop, grow and maintain their business in different ways. Even though they have different methods that contribute to their success.
(ii)Exercising: Daily exercise is definitely something that you should include in your routine. Exercise is beneficial for both your physical and mental health and taking time out of your day to run on a treadmill will boost your productivity.
(iii)Eating a Healthy Diet Food: acts as fuel for your body. What you eat has a significant impact on how you feel throughout the day. It’s important that you maintain a healthy diet if you want to be alert and productive all day long.
(iv)Hiring an Assistant: Most entrepreneurs are on a very tight budget when they get started, and hiring staff is probably not a viable option. However, you should hire an assistant as soon as your company starts making a profit.
(v)Finding a Mentor: Mentors are extremely beneficial for young entrepreneurs. Even though the world of entrepreneurship may be new to you, there are people who have already gone through what you are going through.

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(5a)
Advertising is any form of non-personal communication through the mass media that is paid by an identified sponsor with the target to inform people about an idea, product or service.

(5b)
(i) Television
(ii) Newspaper
(iii) Radio
(iv) Billboard
(v) Internet
(vi) Magazine

(5c)
(i) It is deceptive, in that the product may not actually possess the qualities it purports to have on the media.
(ii) It manipulates people to spend outside their purchasing will or ambulance.
(iii) It reduces small business employment.
(iv) It raises the cost of products and services as the cost of advertising is added up.
(v) It encourages monopolistic control.