Theory question 102
Marketing Concept(a) State five features of the post-independence era in the history of marketing in Nigeria. (b) Explain five functions of marketing in Nigeria.
Show the model answer
Model answer
(a) Any five: indigenisation of businesses; growth of local manufacturing (import substitution); oil boom and rising incomes; growth of advertising and media; rise of supermarkets and modern retailing; marketing boards for export crops; growth of marketing research and professional marketers; government regulation of trade and prices; later, deregulation and e-marketing.
(b) Any five, explained: buying; selling; transportation; storage; standardisation and grading; financing; risk bearing; marketing information/research; promotion.
Explanation
Give each point as a full sentence, with an example where possible.