[Waec Answer] Waec 2018 Marketing Objective And Theory Questions And Answers Now Posted For Free
Marketing Objective And Theory Questions And Answers.
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-
1b) consumer product is a product bought by final consumers for personal consumption. -Example-
1c) Primary products are goods that are available from cultivating raw materials without a manufacturing process. -Example-
1d) secondary productProduct processed from raw materials that is not a primary product of the company or industry. -Example-
i). Marketing Research
keeps you focused on
your target consumers or
ii). Marketing Research
helps you prioritize, so
you can focus on what
iii). Marketing Research
helps you determine
which options will be
iv). Marketing Research
gives you a competitive
v). Marketing Research
helps you make better
decisions and reduces risk.
vi). Marketing Research
keeps you relevant and
(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.
-Nearness to market
-Nature of the product
(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 up to standards, You’ll need to tailor your strategy accordingly.
(i) personal capital
(ii) cooperative society
(iii) loan from bank
(iv) loan from friends and family
(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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