EXPO: WAEC Marketing Questions and Answers 2022/2023

Expo: WAEC Marketing Questions and Answers 2022/2023.

WAEC Marketing Questions and Answers: This WAEC 2022 Marketing expo question and answer is free for all candidates writing this year exams. If you are among those writing 2022 WAEC Examination, Feel free to expect free answer here.

The West African Examinations Council is an examination that is for all the west African country (Ghana, Nigeria, Sierra Leone, Liberia, and Gambia).

WAEC Marketing Questions and Answers: Candidate that applied for the WAEC in any country should BOOKMARK this page for all and latest WAEC Marketing exam expo.

WAEC Marketing Questions and Answers – Tuesday, 17th May 2022.

• Marketing 2 (Essay)** › 08:30 hrs. – 10:30 hrs.
• Marketing 1 (Objective)** › 10:30 hrs. – 11:20 hrs.

Check Here: EXPO: WAEC Data Processing Questions and Answers 2022 – Essay and Objective

WAEC Marketing Expo 2022

2022 WAEC Marketing objectives answers:

1-10: ABBDBBBCDD

11-20: ABDDCDCABC

21-30: CCAABBBADB

31-40: ACDABBBCAD

• Marketing 2 (Essay) – 9:30am – 11:30am.
• Marketing 1 (Objective) 11:30 am – 12:30 pm.

ESSAY/THEORY ANSWERS

(1ai)

Entrepreneurship refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world.

(1aii)

(i)Retained Earnings Businesses aim to maximize profits by selling a product or rendering service for a price higher than what it costs them to produce the goods. It is the most primitive source of funding for any company.

(ii) Debt Capital Companies obtain debt financing privately through bank loans. They can also source new funds by issuing debt to the public.

(iii)Equity Capital Companies can raise funds from the public in exchange for a proportionate ownership stake in the company in the form of shares issued to investors who become shareholders after purchasing the shares.

(iv)Personal investment

When starting a business, your first investor should be yourself either with your own cash or with collateral on your assets. This proves to investors and bankers that you have a long-term commitment to your project and that you are ready to take risks.

(1b)

(i)Availability of raw materials

(ii)Nearness to market

(iii)Availability of basic infrastructure

(iv)Economic policy

(v)Demographics

(vi)Psychographics

QUESTION (2)

(2a) Marketing refers to activities a company undertakes to promote the buying or selling of a product or service.

(2aii)

– Selling:

It is core of marketing. It is concerned with the prospective buyers to actually complete the purchase of an article. It involves transfer of ownership of goods to the buyer.

– Buying and Assembling:

It involves what to buy, of what quality, how much from whom, when and at what price. People in business buy to increase sales or to decrease costs.

– Transportation:

Transportation is the physical means by which goods are moved from the places where they are produced to those places where they are needed for consumption. It creates place, utility.

-Storage:

It involves holding of goods in proper (i.e., usable or saleable) condition from the time they are produced until they are needed by customers (in case of finished products) or by the production department (in case of raw materials and stores); storing protects the goods from deterioration and helps in carrying over surplus for future consumption or use in production.

– Standardization and Grading:

The other activities that facilitate marketing are standardisation and grading. Standardisation means establishment of certain standards or specifications for products based on intrinsic physical qualities of any commodity.

– Financing:

It involves the use of capital to meet financial requirements of agencies dealing with various activities of marketing.

(4ai)

need is a consumer ‘s desire for a product ‘s or service ‘s specific benefit, whether that be functional or emotional.

(4aii)

want is the desire for products or services that are not necessary, but which consumers wish for.

(4aiii)

exchange is a marketplace where securities, commodities, derivatives and other financial instruments are traded.

(4iv)

demand is the total quantity demanded across all consumers in a market for a given good.

(4v)

transaction is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets in return for money.

No 5 (a)

Pick any four)

(i)Marketing planning provides direction for all organization marketing effort

(ii)Marketing planning help organization to raise finance for capital expenditure.

(iii)Marketing planning prevents time wasting on ineffectual marketing activities.

(iv)It save money by helping to ensure that the marketing budget is spent effectively

(v)It helps to identify. prerequisites to planned activities.

(vi)It helps to generate more clients by communicating effectively.

(5b)

(5bii)

(i)overseeing trade agreement

(ii)Reducing trade barriers

(iii)Reducing worldwide tariffs

(iv)Mediating dispute

(6a)

(Pick any Four)

(i)Derived Demand.

(ii)High concentration of production

(iii)Direct channel of distribution

(iv)Few Buyers And Large Volume.

(v)Professional buying

(6b)

(i)Industrial market: It involves set of all individuals and organizations that acquire goods and services that enter into the production of other products or services that are sold, rented, or supplied to others.

(ii)Reseller market:A market consisting of wholesalers and retailers who buy products for resale purposes.Resellers buy finished goods and resell them to the next level in a given distribution channel.

(iii)Government market: A government market is a market where the main buyers are federal, state, and local governmental organizations. They purchase goods or services from private businesses

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Recommended: WAEC Timetable for School Candidates (May/June)

WAEC Exam Pattern and Paper Formats.

Marketing Objective Paper 1 has 50 Objective questions. OBJ questions are the questions that require you to pick either A, B, C, and so on, while paper 2 is the theory.

Theory questions are also known as Essay questions. All Marketing Theory Questions are in paper 2 and they require detailed written answers.

Marketing OBJ Answers 2022 to Paper 1 Questions (Objectives)

Schoolflash.com.ng  have provided a detailed WAEC Marketing samples OBJ answers 2022 to paper 1 question (Objectives) just to help you prepare better for the actual exam.

• Mathematics Questions and Answers WAEC

Recommended:

• WAEC Registration Portal
• Junior WAEC BECE Syllabus
• Liberia WAEC Result Checker
• How To Do Correction Of Name And DOB In WAEC Result.
• WAEC Timetable for School Candidates (May/June)

See Also: WAEC Syllabus

Correct WAEC 2022 Expo for Marketing Exam

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I am sure you have benefitted from our sample WAEC 2022 Marketing theory & OBJ questions and answers above.

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