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WAEC Marketing Answers Posted

MARKETING OBJ:
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11-20: BDCCCBCAAB
21-30: CBDCCBDAAA
31-40: ADABDDADBA

4a)
Political:Legislations,laws,economic policies made at all levels bring a great influence on the marketing activities of an organisation than any other indices
4b)
Cultural:It means that people and their socio-cultural customs and belief are fundamentally and basically what shape and determine the economy,political legal system and technology
4c)
Technological:This is the driving force for change in society and can be significant to marketer for a number of reasons.It can create better ways of satisfying existing needs and its identify latent needs
4d)
Economic:The existence of people of people has no meaning without money.Marketing programmes are affected by by economic growth interest rates.supply and demand for money price inflation and availability of credit
4e)
Social:This factor affect how and why people live behave as they do.It is essential factor because it has impact on the customer buying behaviour

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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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

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