Completed NECO GCE 2021 Marketing Questions And Answers – Expo
2021 NECO GCE MARKETING SOLUTIONS
MARKETING OBJ:
1-10: CEEEBDAACC
11-20: BADCCCCACD
21-30: EEAAEBBAAB
31-40: ABBBAADECA
41-50: CDAACEECEA
51-60: CABDAAACAB
========================================
*MARKETING*
*NUMBER 2*
(2a)
Consumer products, also referred to as final goods, are products that are bought by individuals or households for personal use. In other words, consumer products are goods that are bought for consumption by the average consumer. Consumer behavior reveals how to appeal to people with different habits.
(2b)
(i)Convenience Products; they refers to those that require little trouble or effort to purchase. They are both easy to access and frequently purchased. Examples include: food, drink, laundry detergent, toilet paper, deodorant, and toothpaste.
(ii)Shopping Products;
Shopping goods contrast with convenience products in the fact that they are brought less frequently and are not so easily available. Consumers take more time to decide on what to buy and take a more deliberate effort before making a decision.
(iii)Speciality; Speciality products are goods that consumers do not take long when deciding to purchase. They have unique characteristics like being rare, or being an original design, so are largely incomparable to other products. For example, speciality products include: sports cars, rare paintings, high-spec laptops, rare ornaments, or designer clothing
(iv)Unsought; Unsought products can range from new innovations to old goods. They are simply goods that consumers do not know about or would think to buy. Equally, they are not necessarily goods that the consumer would want to buy.
=======================================
*NUMBER 6*
(6a)
Marketing research refers to the process by which an organization gathers information about its ideal customer and larger market in order to inform the organization’s go-to-market strategy.
(6b)
(i) Identification and Defining the Problem
(ii) Statement of Research Objectives
(iii) Planning the Research Design or Designing the Research Study
(iv) Data Collection
(i) Identification and Defining the Problem: The market research process begins with the identification “of a problem faced by the company. Clear definition of the problem helps the researcher in all subsequent research efforts including setting of proper research objectives, the determination of the techniques to be used, and the extent of information to be collected.
(ii) Statement of Research Objectives:
After identifying and defining the problem with or without explanatory research, the researcher must take a formal statement of research objectives. Such objectives may be stated in qualitative or quantitative terms and expressed as research questions, statement or hypothesis.
(iii) Planning the Research Design or Designing the Research Study: After defining the research problem and deciding the objectives, the research design must be developed. A research design is a master plan specifying the procedure for collecting and analysing the needed information. It represents a framework for the research plan of action.
(iv) Data Collection:
The collection of data relates to the gathering of facts to be used in solving the problem. Hence, methods of market research are essentially methods of data collection. Data can be secondary, i.e., collected from concerned reports, magazines and other periodicals, especially written articles, government publications, company publications, books, etc.
========================================
3a
A marketing mix includes multiple areas of focus as part of a comprehensive marketing plan. The term often refers to a common classification that began as the four Ps: product, price, placement, and promotion.
3b
Products
Place
Price
Promotion
Product
This represents an item or service designed to satisfy customer needs and wants. To effectively market a product or service, it’s important to identify what differentiates it from competing products or services. It’s also important to determine if other products or services can be marketed in conjunction with it.
Price
The sale price of the product reflects what consumers are willing to pay for it. Marketing professionals need to consider costs related to research and development, manufacturing, marketing, and distribution—otherwise known as cost-based pricing. Pricing based primarily on consumers’ perceived quality or value is known as value-based pricing.
Placement
The type of product sold is important to consider when determining areas of distribution. Basic consumer products, such as paper goods, often are readily available in many stores. Premium consumer products, however, typically are available only in select stores. Another consideration is whether to place a product in a physical store, online, or both.
Promotion
Joint marketing campaigns also are called a promotional mix. Activities might include advertising, sales promotion, personal selling, and public relations. A key consideration should be for the budget assigned to the marketing mix.
=======================================
*(7a)*
(i)Buying; It is the process of acquiring goods at the right price, at a right time, in right quantity and quality and from a right source of supply.
(ii)Assembling; Producers at different centers produce goods in small quantities. They cannot be processed unless they are transported to the market. This process of collecting goods from various sources and bringing together those in a centrally located place are called assembling.
(iii)Standardizing and grading; Standardizing means the setting up of basic categories or grades of the products. If the particular goods are of certain standard, it means that they are of a certain quality. Grading means the division of products into classes made up of units possessing similar characteristics of size and quality.
(iv)Storing; Storing is another important function of the marketing process. It involves the holding of goods in proper condition from the time they are produced until the consumers need them. Storing protects the goods from deterioration.
*(7b)*
(i)When the goods are secured, the retailer must determine the unit price that he or she will assign to the products. In all cases, this retail price will be higher than the cost of purchasing the goods from the supplier.
(ii)the process of retail merchandising moves on to the task known as setup and display. This process is concerned with displaying the goods within the retail setting to best advantage.
(iii)By using such devices as display windows, elevated platforms, and colorful backdrops to attract the attention of shoppers, the retailer increases the chances of selling many units quickly.
(iv)it is necessary to provide consumers with a couple of key benefits. First, the products must be of high quality; this helps to ensure that the customer will return for more purchases in the future.
========================================
(8a)
Market segmentation is a business practice that brands use to divide their target market into smaller, more manageable groups of people based on common ground they share to optimize their marketing, advertising, and sales efforts.
(8b)
(i) Product Introduction: Advertising introduces a new product to peoples in the market.
(ii) Creating Awareness: Advertising is the medium through which business informs about its products or services to the wider market
(iii) Increasing Sales: Advertising helps in raising the sales volume of business organizations.
(iv) Overcome Competition: Advertising assists business organizations in facing strong market competition.
(8c)
Coming soon
MESSAGE PROF GODWIN FOR YOUR WAEC NECO GCE AND 2022 WAEC AND NECO 08129342906
0 Response to "Completed NECO GCE 2021 Marketing Questions And Answers – Expo"
Post a Comment