2017 REAL AND VERIFIED NECO MARKETING ANSWERS

2017/2018 NECO EXPO QUESTION & ANSWERS

2017 REAL AND VERIFIED NECO MARKETING ANSWERS
Marketing obj:
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1a)
market refers to the group of consumers or
organizations that is interested in the product,
has the resources to purchase the product,
and is permitted by law and other regulations
to acquire the product
1b)
i)Market research- is about gathering
information concerning your target
customers.
ii)Promotion Most business owners are
familiar with the idea of promotion.
iii)Selling While we tend to think of selling and
marketing as being closely linked, selling is
last on the list of the seven functions of
marketing.
iv)Pricing Setting the correct price for your
product or service can be a challenge.
1ci)
government market is a group of consumers
that consists of local, state and federal
authorities.the government market spends the
most money of any other consuming group,
and so presents
an attractive marketing target for some
businesses.
1cii)
reseller market buyers who purchase with the
intent of selling those products to others. The
reseller market includes wholesalers, retailers,
and distributors.
1ciii)
Industrial marketing is the marketing of goods
and services by one business
to another. Industrial goods are those
an industry uses to produce an end
product from one or more raw materials. =-=-=-=-=-=-=-=-=-=-=-=-==-=-=-=-=-=-=-
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(2a)
i)To promote the good image of an
organization.
ii)To inform the public about the existence of a
product.
iii) To educate the public about the benefit of a
product
iv)To entertain the public in its presentation
and packaging
(2b)
Advantages
i) It’s very convenient and flexible means of
advertising.
ii) To ensure that their msg is strong and
persensive
iii) It’s capable to reach lot of ppl i.e mass
coverage.
Disadvantages
I)Television advertising cost more than others
from of media
ii)lack of regular power supply can discourage
the media
iii)Different technological immunisation enable
customers to block advertisement all together
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4a)
Political is attracting increasing interest and
utility in public and media discussion
4b)
Cultural offers a unique shopping experience
for locals and visitors alike. Nowhere else in
Fredericton can you experience a traditional
4c)
technological the tools and platforms used by
sales and marketing organizations to
effectively complete their duties.
4d)
economic is where decisions regarding
investment, production, and distribution are
based on the interplay of supply and demand,
which determines the prices of goods and
services
4e)
social is sometimes seen only as using
standard commercial marketing practices to
achieve non-commercial goals, this is an
oversimplification.
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5a)
problem recognition The acknowledgement
and definition of an issue that does or may
arise during the performance of a process.
5b)
Information Search is a stage in the
Consumer Decision Process during which
a consumer searches for internal or
external information.
5c)
Evaluating Alternatives During the evaluation of
alternatives stage, the consumer evaluates all
the products available on a scale of particular
attributes.
5d)
Purchase decision is the thought process that
leads a consumer from identifying
need, generating options, and choosing a
specific product and brand.
5e)
Post-purchase behavior is when the
customer assesses whether he is satisfied or
dissatisfied with a purchase.
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6a)
i)Buying:
A retailer buys a wide variety of goods from
different wholesalers after estimating customer
demand.
(ii)Storage:
A retailer maintains a ready stock of goods
and displays them in his shop.
(iii) Selling:
The retailer sells goods in small quantities
according to the demand and choice of
consumers. He employs efficient methods of
selling to increase his sales turnover.
(iv) Grading and Packing:
The retailer grades the goods which are not
graded by manufacturers and wholesalers. He
packs goods in small lots for the convenience
of consumers.
(v) Financing:
Some retailers grant credit to customers and
provide the facility of return or exchange of
goods. In some cases, home delivery and after
sale service are provided by retailers.
(6b)
i)Provides manufacturers with market
information on consumer want and competitor
activities.
ii)Advertises goods on behalf of
manufacturers.
iii) Provides a ready market manufacturers.
iv)Blends, packages, grades , bleaches, dyes
and brands goods.
v) Clears manufacturer’s production lines thus
allowing manufacturers and producers to
concentrate on manufacturing and production.

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