Marketing (Essay & Objective OBJ) Waec 2017 Free Expo Answers
Friday, 5th May, 2017
Marketing 2 (Essay) 09.30am – 11.30am
Marketing 1 (Objective) 11.30am – 12.20pm
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
i)Market research- is about gathering
information concerning your target
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.
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.
reseller market buyers who purchase with the intent of selling those products to others. The reseller market includes wholesalers, retailers, and distributors.
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.
5a). Problem recognition results when a consumer recognizes a substantial difference between what is perceived as the actual product and the product he/she wants to purchase, which directly impacts the decision making of the customer in the buying process.
5b) Information seeking is the process or activity of attempting to obtain information in both human and technological contexts. Information seeking is related to, but different from, information retrieval (IR).
5c)Evaluation of alternatives is the third stage in the Consumer Buying Decision process.
5d)Purchase decision is the thought process that leads a consumer from identifying a need, generating options, and choosing a specific product and brand
5e) Post – Purchase Behavior is the stage of the
Buyer Decision Process when a consumer will take additional action, based purely on their satisfaction or dissatisfaction