WAEC Marketing 2021 past questions and answers

A short-term tool used in boosting turnover is

1. A.sales promotion.
2. B.mass media.
3. C.personal selling.
4. D.e-marketing.

The part of an advertising leaflet that introduces the message of the advertisement is

1. A.margin.
2. B.headline.
3. C.cut-out.
4. D.photograph.

The amount of money charged for a product is the

1. A.fare.
2. B.price.
3. C.revenue.
4. D.cash.

An advertising media with the highest coverage area is

1. A.billboard.
2. B.catalogue.
3. C.magazine.
4. D.television

A pricing strategy in which the buyer and seller bargain to reach an agreement on the price of a product is

1. A.cost-plus.
2. B.haggling.
3. C.skimming pricing.
4. D.penetration pricing.

The elements that make up marketing planning are I. situation analysis II. market share III. marketing objective IV. marketing strategy V. action programme

1. A.I, II, III, IV only.
2. B.I, II, III, V only.
3. C.I, II, IV, V only.
4. D.I, III, IV, V only.

The process of collecting and analyzing information about the external marketing environment is

1. A.environmental management.
2. B.marketing research.
3. C.market segmentation.
4. D.marketing management.

Which of the following behaviours would a satisfied customer exhibit?

1. A.Buy similar products from other companies
2. B.Pay attention to other companies' products advertisement
3. C.Talk favourably about the purchased products
4. D.Recommend competing products for buying

Which of the following is not an example of institutional consumers?

1. A.Schools
2. B.Hospitals
3. C.Hotels
4. D.Households

Which of the following sales promotional tools is used to encourage wholesalers and retailers?

1. A.Sample pack
2. B.Bonus pack
3. C.Premium offer
4. D.Price discount

Which of the following consumer buying behaviours requires the least efforts?

1. A.Impulse buying
2. B.Routine buying
3. C.New buying
4. D.High buying

An example of non-durable goods is

1. A.shoe.
2. B.bread.
3. C.television.
4. D.refrigerator.

E-marketing is also called

1. A.direct purchasing.
2. B.electronic banking.
3. C.e-mail order.
4. D.internet business.

A product that has undergone processing is

1. A.an intangible product.
2. B.a primary product.
3. C.an extractive product.
4. D.a secondary product.

Which of the following items is a primary product?

1. A.Sugar
2. B.Noodles
3. C.Fresh tomatoes
4. D.Fresh bread

The formation of a strategy to attain established marketing objectives is

1. A.marketing concept.
2. B.market forecast.
3. C.market demand.
4. D.marketing planning.

A reduction in general personal income which leads to a change in a company's pricing strategy is an element of the

1. A.competitive environment.
2. B.political environment.
3. C.economic environment.
4. D.technological environment.

Marketing activities carried out in more than one country is

1. A.international marketing.
2. B.national marketing.
3. C.home trade.
4. D.entrepôt trade.

Individuals or firms that enhance business activities but do not participate directly in the business are

1. A.market unions.
2. B.market facilitators.
3. C.wholesalers.
4. D.retailers.

The body formed by sellers of a common product in a local market is an example of

1. A.market union.
2. B.manufacturers' association.
3. C.trade union.
4. D.consumers' association.

The cheapest mode of transporting imported cars from America to Nigeria is by

1. A.air.
2. B.road.
3. C.water.
4. D.rail.

The middleman that buys in bulk and sells in bit is

1. A.a retailer.
2. B.an agent.
3. C.a wholesaler.
4. D.a broker.

Which of the following channels of distribution would a producer who wants to control its unit price use?

1. A.Producer → Consumer
2. B.Producer → Retailer → Consumer
3. C.Producer → Wholesaler → Retailer→ Consumer
4. D.Producer → Agent → Retailer → Consumer

An example of transportation document that is used for local trade is

1. A.waybill.
2. B.certificate of origin.
3. C.consular invoice.
4. D.bill of lading.

All individuals and units that buy goods for personal use constitute the

1. A.industrial market.
2. B.consumer market.
3. C.government market.
4. D.re-seller market.

Which of the following activities is not a function of a merchandiser?

1. A.Displaying products in the best location
2. B.Identifying potential new accounts
3. C.Maintaining and increasing shelf space
4. D.Cleaning and displaying of products

The differentiation of a firm's product from other competing goods is

1. A.packaging.
2. B.labelling.
3. C.coding.
4. D.branding.

A disadvantage of warehousing is that it

1. A.encourages hoarding of goods to create scarcity.
2. B.ensures the availability of goods when needed.
3. C.helps to protect goods from damages.
4. D.ensures availability of storage facility for goods.

An element of the external marketing environment is

1. A.organizational policy.
2. B.company procedures.
3. C.corporate culture.
4. D.economic indices.

An element of the marketing mix is

1. A.processes.
2. B.place.
3. C.packaging.
4. D.production.

Which of the following options is not a function of a warehouse?

1. A.To increase the price of goods
2. B.Store goods for consumption purpose
3. C.Store goods till when needed for supply
4. D.Stabilization of price of goods

The willingness and ability to identify business opportunity, establish and operate it successfully is

1. A.distribution.
2. B.wholesaling.
3. C.entrepreneurship.
4. D.purchasing.

An internal source of fund for an entrepreneur is

1. A.bank loan.
2. B.overdraft.
3. C.trade credit.
4. D.retained earnings.

An example of long-term source of fund for an entrepreneur is

1. A.debenture.
2. B.trade credits.
3. C.overdraft.
4. D.customer advances.

The idea that consumers will prefer goods and services that are available and affordable is

1. A.selling concept.
2. B.product concept.
3. C.production concept.
4. D.marketing concept.

Which of the following alternatives is a purpose of marketing concept?

1. A.Product quality
2. B.Consumer satisfaction
3. C.Sales volume
4. D.Production volume

Marketers are involved in production process because

1. A.they also work in the factory floor.
2. B.their ideas are developed into products.
3. C.they set product price.
4. D.they purchase raw materials for production

If the unit cost price of a product is ₦90 and sold at a profit margin of 50%, what is the selling price?

1. A.₦45
2. B.₦90
3. C.₦135
4. D.₦180

A company that sells its goods directly in foreign countries is engaging in

1. A.exportation.
2. B.importation.
3. C.franchising.
4. D.licencing.

A function of market union in a local market is to

1. A.defend members at law court.
2. B.offer bank loan to members.
3. C.transport products on behalf of members.
4. D.establish common price for their products.

Mr. Abu, an entrepreneur, wants to establish a public warehousing business. (a) State five factors to be considered by Mr. Abu in locating the business. (b) Describe five activities to be carried out by Mr. Abu in the business.

(a) State five ways e-marketing could be abused. (b) Ajax Ltd is a marketing company that intends to reach its customers through e-mail. Explain five importance of e-mail to Ajax Ltd's operations.

Use the diagram below to answer questions 3(a), 3(b) and 3(c).
(a) Identify the parts of the product labelled A, B, C and D. (b) State three functions of the part labelled A to the product. (c) Explain five importance of the part labelled C to the consumer.

Ozayi Ltd is a new manufacturing company producing consumer goods. The company intends to gain market shares by using sales promotion. (a) Outline four importance of sales promotion to the company.
(b) List and explain four sales promotional tools that can be used by the company.

(a) State five importance of marketing planning to an organization. (b) Mrs. Janet, a dry fish seller, formed an organization with other dry fish sellers for their common interest in a local market. (i) Identify the organization formed by Mrs. Janet with other dry fish sellers. (ii) State four functions the organization would perform to its members.

Abu Company Ltd manufactures and sells hospital equipment to organizational markets. (a) State four features of the markets the company sells its products to. (b) List and explain three types of the market the company sells to.