2023 WAEC Marketing Questions & Answers (Essay & Objectives)
2023 WAEC Marketing Questions and Answers
(Essay and Objectives)
2023 WAEC Marketing Answers: Get the WAEC 2023 Marketing Questions and answers for 2023 Paper 1 and 2 (Essay and Objectives).
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The 2023 WAEC Marketing (Paper 1 and 2) examination will take place on Thursday, 22nd June, 2023 from 9:30AM to 12:15PM (2Hour 45 Minutes).
WAEC 2023 Marketing Objectives Solutions
1-10: AACBAAADAC
11-20: DACBABDBAC
21-30: BCADCBAABB
31-40: ACDCDDDCBB
WAEC 2023 Marketing Essay Solutions
NUMBER 1
1a)
(i)Wholesalers act as intermediaries between manufacturers or producers and retailers.
(ii)Wholesalers purchase goods in large volumes and break them down into smaller quantities suitable for retailers or other businesses.
(iii) Wholesalers are responsible for arranging the transportation of goods from manufacturers to their warehouses and subsequently to retailers or other customers.
(iv)Wholesalers may engage in repackaging or relabeling of products to suit the requirements of different retailers or customers.
(vi)
NUMBER 2
2a)
(i)Need Identification: Mr. Oke recognized the need to purchase a television set for his family. This step involves identifying the requirements, preferences, and specifications of the product to meet his family’s entertainment needs.
(ii) Research and Evaluation: After identifying the need, Mr. Oke conducted thorough research on different television models, brands, features, and prices. He gathered information from various sources.
(iii)Decision Making: Once Mr. Oke had gathered sufficient information, he analyzed the available options and compared them against his requirements and budget.
(iv) Purchase and Post-Purchase Evaluation: After finalizing his decision, Mr. Oke proceeded with the actual purchase of the chosen television set. He identified the most reliable retailer and made payment.
(2b)
(i)Organizational goals and objectives: The committee’s buying behavior is influenced by the goals and objectives of the organization.
(ii)Budget and financial considerations: The financial resources available to the committee can greatly influence their buying behavior.
(iii)Organizational policies and procedures: Committees often have to adhere to specific organizational policies and procedures when making purchasing decisions.
(iv)Stakeholder input and influence: Committees are composed of multiple individuals representing various departments or functions within the organization.
NUMBER 3
(3a)
(i) Access to new customers and markets
(3b)
(i) exporting.
(ii) franchising.
(III) Joint venture.
(iv) wholly owned subsidiary.
(iii). Joint Venture: This mode of entry allows JK Ltd. to share the risks and expenses of entering the South African market with a local company. However, JK Ltd. may lose some control over the operations of the joint venture company.
(iv) Wholly owned subsidiary: This mode of entry gives JK Ltd. complete control over its operations in South Africa. However, it requires significant investment and may take longer to establish a presence in the market.
NUMBER 4
4a)
(i)Product – Quality, Design.
(ii)Price – Cost, Value.
(iii)Place – Distribution channels, Location.
(iv)Promotion – Advertising, Public relations.
(i) economic factors
(ii). Technological factors Advances in technology can create new opportunities for marketers, while also rendering existing products and marketing strategies obsolete.
(iii). Political and legal factors – Changes in laws and regulations related to marketing, such as privacy laws, advertising regulations, and product safety requirements, can greatly impact marketing strategies.
(iv) Sociocultural factors – Cultural and social factors such as demographics, social trends, and consumer behaviors can influence consumer preferences and the success of marketing campaigns.
NUMBER 5
(5a)
(I) Jo-Bo should ensure a different variety of products are available in his retail outlet to cater to different customer preferences and needs.
(ii) Jo-Bo should focus on providing high-quality products that meet or exceed customers expectations.
(iii) Jo-Bo should offer competitive prices for his products compared to other retailers in the area.
(iv) Jo- Bo should Provide excellent customer service for customer retention.(v) Implementing a loyalty program or offering incentives such as discounts or reward points, for repeat customers.
(vi) Jo-Bo should ensure his retail outlet is visually appealing and well-organized.
(vii) Jo-Bo should engage in effective marketing strategies to create awareness and attract new customers.(viii) Jo-Bo should actively seek feedback from customers to understand their needs and preferences better.
(5b)
(i) By starting his own retail outlet, Jo-Bo can become financially independent.
ii) Running a business allows Jo-Bo to gain valuable entrepreneurial experience.
(iii) By establishing his retail outlet, Jo-Bo contributes to job creation in his neighborhood.
(iv) As the owner of his business, Jo-Bo has the freedom to set his own working hours and make decisions independently.(v) He will be able to learn continously and experience personal growth.
(vi) Establishing a retail outlet in his neighborhood can earn Jo-Bo recognition and respect from the community.
(vii) If Jo-Bo’s retail outlet proves successful, he can consider expanding his business.
(viii) Building a successful business can potentially lead to long-term wealth creation for Jo-Bo.
WAEC 2023 Marketing Questions
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