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Waec Marketing Questions And Answers Pin Page


SUBJECT: WAEC MARKETING AND THE PIN IS ""


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5a)
Market union is an organization whose membership consists of marketers and union leaders, united to protect and promote their common interests.

5b)
i)Standardization And Grading: Standardization and grading of products are the other important functions of marketing.
ii)Financing: Finance is as necessary in marketing as in production of goods or services.
iii)Risk-taking; Risk-taking is the other important facilitating functions of
marketing.
iv)To identify and source potentially successful products for the marketplace and then promote them by
differentiating them from similar products.

5c)
i)The Union will offer a legal service and advice to its members
ii)The union will provide it members a powerful, collective voice to communicate to management their dissatisfaction and frustration
iii)The union will provide it members with loan an other financial support
iv)It help the members of the union in getting information
v)It strengthen it members



6a)
i) personal capital
ii) cooperative society
iii) loan from bank
iv) loan from friends and family

6b)
i) Nearest to the market; this can influence the location of new outlet considering the usefulness of the condemners
ii) site and land: the availability of land can influence the location of new outlet
iii) raw materials: the outlet must located close to where the raw materials can accessed easily
iv) labour; the availability of cheap labourers can influence the location of the outlet. Labourers can be decreased



4a)
Transportation provides the physical means of carrying goods and persons from one place to another. In other words, it is concerned with carrying the goods from the places of production to the places of their consumption.

4b)
i)Comfort – This factor is at times ignored while some makes it priority depending upon the affordability. This is essential in case of travelling and ignored in case of transporting goods.
ii)Safety – Considering the increased cases of accidents safety becomes another important factor. Anyone will wish to ensure maximum available safety for their loved ones.
iii)Speed – This factor is another most important and deterministic factor depending upon the situation. Fastest mode may seem to be best
iv)Accessibility – This primarily deals with the ease of getting.boarding a vehicle. If a mode is not easily accessible then it loses its usefulness because of its unavailability in a certain condition.
v)Cost- It can also be linked to affordability of the user. This factor is one of the most dynamic as the willingness to pay changes on the basis or urgency and need to travel/transport.
vi)Integration with other modes – For long trips or trips which requires change of mode this factors becomes most significant for completion of the trip.



1a)
industrial product is a good used by a company for business consumption. It is distinct from a consumable goods, which is purchased by individuals for personal and family consumption.
-Example-
i)Natural product
ii)Farm Product

1b)
consumer product is a product bought by final consumers for personal consumption.
-Example-
i)Convenience product
ii)Shopping product

1c)
Primary products are goods that are available from cultivating raw materials without a manufacturing process.
-Example-
i)agriculture product
ii)fishing product

1d)
secondary product is Products processed from raw materials that are not a primary product of the company or industry.
-Example-
i)chemical product
ii)plant/natural product



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