Confirm and Correct 2016/2017 WAEC MARKETING (Essay & Objectives) Questions And Answers Are Now Available For Free

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MARKETING OBJ:
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2a. A product is anything that can be offered to a market that might satisfy a want or need.
2b. Product is the concept of the physical or intangible thing that is going to be marketed, that is divided into three major (with subdivisions each) concentric circles.
1) Simple Product: What it is, color, substance, characteristics, need that satisfies.
2) Real Product: Packaging, image, advertising, public personality, shape, colors, semiology of all the above.
3) Amplified Product: all the differential advantages, as in guarantees, service, customer atention, etc.
Production on the other hand is the methods, processes and organization to develop and massively construct or build the product.
If its intangible this is just the same, only that is "just in time" either way processes must be designed prior to the sale.
2c (i) Timing
(ii) Not Living Up To The Hype
(iii) Prohibitively Strong Branding
(iv) Fixing What Ain't Broken
(v) Cross Contamination - Mixing
(vi) Two Successful Products Into One Big Failure
(vii) Not Making The Right Business Partners
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6a)
i)Conducting Market Research: Marketing managers carry out market research to gain a clear understanding of what an organization's customers really want.
ii)Developing the Marketing Strategy Marketing managers are responsible for
developing marketing strategies for their
organizations.
iii)Customer Relationship Management:The marketing manager performs the function of championing customer relationship management in the organization.
iv)Employee Management:Marketing managers are in charge of the marketing department and therefore are responsible for employees within their department.
v)Identifying New Business Opportunities: Marketing managers analyze market trends with an aim of identifying unexploited or new markets for the organization's products and services.

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6b)
i)Respond as quickly as possible ne of the biggest factors in good customer service is speed, especially when a client is requesting something that’s time sensitive.
ii)Know your customers: Great interactions begin with knowing your customers wants and needs.Customers love personalization.Get to know your customers, remember their names and previous conversations.
iii)Fix your mistakes: Not taking responsibility of your mistakes is a sure fire way to getting a bad reputation. Transparency is important in business and customer service is no different.
iv)Go the extra mile: Going the extra mile will not only result in an indebted and happy customer, it can also go a long way in terms of keeping yourself on their radar for future business.
v)Think long term – A customer is for
life: Think long term when dealing with
customers. By keeping customers happy,
they will be loyal and through word of
mouth, will do the marketing for you.
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4a Quality is a critical aspect of business strategy. Firms compete on quality, customers search for quality, and markets are transformed by quality. It is a key force leading to delighted customers, firm profitability, and the economic growth of nations.

4b Intensive Distribution: Intensive distribution aims to provide saturation coverage of the market by using all available outlets. For many products, total sales are directly linked to the number of outlets used (e.g., cigarettes, beer). Intensive distribution is usually required where customers have a range of acceptable brands to choose from. In other words, if one brand is not available, a customer will simply choose another.
Selective Distribution
Selective distribution involves a producer using a limited number of outlets in a geographical area to sell products. An advantage of this approach is that the producer can choose the most appropriate or best-performing outlets and focus effort (e.g., training) on them
Exclusive Distribution
Exclusive distribution is an extreme form of selective distribution in which only one wholesaler, retailer or distributor is used in a specific geographical area.
4c (i) Not Keeping Promises
(ii) Poor Customer Service
(iii) Rude Staff
(iv) No Omni-channel Customer Service
(v) Not Listening to Customers
(vi) Low Quality of Products or Services
(vii) Inaccessibility

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(1a)
Pricing can be defined as the amount/anything that is being used to facilitate change
(1b)
Marketing concept is premised on the identification and determination of the needs and wants of the prospective clients or customers,therefore the business firm must adapt to the 4ps of the marketing mix ie price,product,place and promotion to ensure efficiency and effectiveness of meeting and satisfying the needs and wants of the customers
(1c)
-Product
-Price
-Place
-Promotion
-Product:This connotes the broad concept that encompasses the satisfaction of all consumer needs in relation to a good,service or idea.It includes making decisions about customer service,package design,brand names,trademarks,warranties,product development,quality, feature and packaging
-Price:Price is the amount that is used to facilitate exchange.Price is the most sensitive one because customer sensitive marketing mix because customer respond more to price strategy.
-Place:This is otherwise refers to as distribution,time utilities and they conditions that enable consumers and business users to have product available for use when and where they want them.
-Promotion:This relates to all marketing activities made to convince potential customers that the right product is available at the right place and at the right price through publicity,advertistment,sales promotion, and other promotion techniques

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(5a)
Sale promotion may be defined as methods which last for specified period adopted by manufacturers aimed at bringing the existence of goods or introduction of new ones to the knowledge of consumers and to boost sales
(5b)
-To inform the public of the places prices and method of obtaining the goods advertised
-It is also aimed at increasing sales and profits of firm
-It is also used to informs the customers of the benefits of goods advertised
-It informs the public about the existence of new goods or service
-It is also used to create demand
(5c)
-It arouses the interest of the buyers
-It creates product awareness
-It gives rooms for demonstration
-It allows the buyers to negotiate for better prices and other favourable terms

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