WAEC 2018 MARKETING ESSAY AND THEORY ANSWER – MAY/JUNE – wakagist.com

(1a)
industrial product is a good used by a company for business consumption. It is distinct from a consumable good, which is purchased by individuals for personal and family consumption.
-Example-
(i)Natural product
(ii)Farm Product

(1b)
consumer product is a product bought by final consumers for personal consumption.
-Example-
(i)Convenience product
(ii)Shopping product

(1c)
Primary products are goods that are available from cultivating raw materials without a manufacturing process.
-Example-
(i)agriculture product
(ii)fishing product

(1d)
secondary productProduct processed from raw materials that is not a primary product of the company or industry.
-Example-
(i)chemical product
(ii)plant/natural product

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(2a)
(i) To solve a specific problem
(ii) To identify the causes of a problem in an organisation
(iii) To find out the need of the customer
(iv) To help in appropriate project management
(v) To help and assist the management in decision making

(2b)
(I) price off: this is when discount are given to customers for buying large quantity of a particular products

(ii) salesman competition: when a company goods each sakes representative a target and at the end there is a benefit attached

(iii) free gifts: this is a money of making customer purchase a particular products more by given them gifts.

(iv) premium offer: is a scale promotion technique where the customer are given two or more products and they pay lower than the price of combine products

(v) samples: this is the act of getting know of different products in market through careful design and analysis

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(4a)
Transportation is the physical carriage or movements of finished products from the place of manufacturing to the place where it would be accessible and available to the largest audience either wholesalers, sales, agent, retailers and ultimately the final consumers.

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(4b)
-Nearness to market
-Cost advantage
-Nature of the product
-Availabilty
-Handling
-Local conditions

(i) Nearness to market: When the market or the location of the ultimate consumer is very close to the producer, this most often determine the mode of transportation to use.

(ii) Cost advantage: Marketing firms also consider cost variables as to cheapness of carrying a product. It is a major factor that determines the selling price of a product

(iii) Nature of the product: Perishability, durability, storage, frangibility of the product. It is difficult to transport vehicles, heavy plants or machinery by air. Therefore consideration should be given to heaviness.

(iv) Availability: A choice of transportation may also depend on availability. Some mode of transport are not Available in some area. In that kind of area, the product need to key into the available means of transport by either repackaging goods or by re-modifying the transporting strategy.

(v) Handling: Some forms of transport can involve rough handling. For example, products transported by ship may be hauled aboard the vessel in a net or sling, stacked beneath dozens of other goods and subjected to moisture condensation.

(vi) Local conditions : Take a look at the country you are shipping to. Are there many risks and weaknesses in its transport infrastructure? If the local ports have a bad reputation, or the road network isn’t upto standards, You’ll need to tailor yout strategy accordingly.

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(5a)
Market Union is an organization whose membership consists of workers and unionleaders, united to protect and promote their common interests. Also called house union, a company union is often a bogus one and generally illegal.

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(5b)
(i) Advertising agencies
(ii) Financing Consumer Activities
(iii) Market research firms
(iv) Transportation firms
(v) Warehousing firms

(5c)
(i) The fight for the right if there members
(ii) payment of dues
(iii) they ensure availability and assecibility of their products
(iv) they demand for product of quantity goods

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(6a)
(i) personal capital
(ii) cooperative society
(iii) loan from bank
(iv) loan from friends and family

(6b)
(i) Nearest to the market; this can influence the location of new outlet considering the usefulness of the condemners
(ii) site and land: the availability of land can influence the location of new outlet
(iii) raw materials: the outlet must located close to where the raw materials can accessed easily
(iv) labour; the availability of cheap labourers can influence the location of the outlet. Labourers can be decreased

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