Waec 2016 Marketing Obj And Theory Answers

Marketing obj
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41BBDADCCADD 4a)
Quality is a measure of excellence or state
of being free from defects, deficiencies and
significant variations
4bi)
Intensive distribution is a marketing
strategy under which a company sell
through as many outlets as possible, so
that the consumers encounter the products
virtually everywhere they go; supermarket,
drug store etc
4bii)
In intensive distribution, the producers
products are stocked in the majority of
outlets. In selective distribution, the
producer relies on a few intermediaries to
carry their product
4biii)
Exclusive distribution is an extreme form of
selective distribution in which only one
wholesaler, retailer or distributor is used in
a specific geographical area. When a firm
distributes its brand through just one or two
major outlets in d market, which exclusively
deal in it and not all competing brands, it is
said that the firm is using exclusive
distribution strategy
4c)
i) Not Keeping Promises
ii) Poor Customer Service
iii) Rude Staff
iv) No Omni-channel Customer Service
v) Not Listening to Customers

vi) Low Quality of Products or Services

1a)
Pricing can be defined as the amount/
anything that is being used to facilitate
change
(1b)
Marketing concept is premised on the
identification and determination of the
needs
and wants of the prospective clients or
customers,therefore the business firm must
adapt to the 4ps of the marketing mix ie
price,product,place and prom*tion to ensure
efficiency and effectiveness of meeting and
satisfying the needs and wants of the
customers
(1c)
-Product
-Price
-Place
-Promotion
-Product:This connotes the broad concept
that encompasses the satisfaction of all
consumer needs in relation to a
good,service
or idea.It includes making decisions about
customer service,package design,brand
names,trademarks,warranties,product
development,quality, feature and packaging
-Price:Price is the amount that is used to
facilitate exchange.Price is the most
sensitive
one because customer sensitive marketing
mix because customer respond more to
price
strategy.
-Place:This is otherwise refers to as
distribution,time utilities and they
conditions
that enable consumers and business users
to
have product available for use when and
where they want them.
-Promotion:This relates to all marketing
activities made to convince potential
customers that the right product is available
at the right place and at the right price
through publicity,advertistment,sales

promotion, and other promotion techniques

2a)
Product are goods manufactured by
organizations for the end-users.in other
words product in a market place is
something which a seller sells to the buyers
in exchange of money.
2b)
product concepts
i)Quality orientation of the organization.
ii)Superior products at reasonable price.
iii)Product-orientation.
iv)Quality improvements over time to attract
customers.
-production Concept:
i)Production-orientation of the organization.
ii)High production efficiency through
improved technology, standardization and
mass production.
iii)Mass distribution of the product to
facilitate wider availability.
iv)Low price to attract customers. Price is
regarded as critical for marketing.
2c)
i)Marketers assess the marketing climate
inadequately.
ii)The wrong group was targeted.
iii)A weak positioning strategy was used.
iv)A less-than-optimal “configuration” of
attributes and benefits was selected.
v)Bad pricing strategy was implemented.
vi)The advertisement generated an
insufficient level of awareness.
vii)Cannibalization depressed corporate

profits.

(5a)
Sale promotion may be defined as methods
which last for specified period adopted by
manufacturers aimed at bringing the
existence of goods or introduction of new
ones to the knowledge of consumers and to
boost sales
(5b)
-To inform the public of the places prices
and
method of obtaining the goods advertised
-It is also aimed at increasing sales and
profits of firm
-It is also used to informs the customers of
the benefits of goods advertised
-It informs the public about the existence of
new goods or service
-It is also used to create demand
(5c)
-It arouses the interest of the buyers
-It creates product awareness
-It gives rooms for demonstration
-It allows the buyers to negotiate for better

prices and other favourable terms

(6a)
i)Conducting Market Research: Marketing managers carry out
market research to gain a clear understanding of what an
organization’s customers really want.
ii)Developing the Marketing Strategy Marketing managers are
responsible for
developing marketing strategies for their
organizations.
iii)Customer Relationship Management:The marketing manager
performs the function of championing customer relationship
management in the organization.
iv)Employee Management:Marketing managers are in charge of
the marketing department and therefore are responsible for
employees within their department.
v)Identifying New Business Opportunities: Marketing managers
analyze market trends with an aim of identifying unexploited or
new markets for the organization’s products and services.
(6b)
i)Respond as quickly as possible:One of the biggest factors in
good customer service is speed, especially when a client is
requesting something that’s time sensitive.
ii)Know your customers: Great interactions begin with knowing
your customers wants and needs.Customers love
personalization.Get to know your customers, remember their
names and previous conversations.
iii)Fix your mistakes: Not taking responsibility of your mistakes is
a sure fire way to getting a bad reputation. Transparency is
important in business and customer service is no different.
iv)Go the extra mile: Going the extra mile will not only result in an
indebted and happy customer, it can also go a long way in
terms of keeping yourself on their radar for future business.
v)Think long term – A customer is for
life: Think long term when dealing with
customers. By keeping customers happy,
they will be loyal and through word of
mouth, will do the marketing for you.

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