WAEC Marketing 2023 past questions and answers

The need for an item backed by the ability to pay by a consumer is

1. A.demand
2. B.want
3. C.exchange
4. D.utility

An orientation that holds that a company's decision should include consumer satisfaction and community development is

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

The concept applied by XYZ Ltd that uses aggressive promotional efforts to attract customers to buy its brand of cosmetics is

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

The process of bringing products to the attention of prospective customers is

1. A.distribution
2. B.promotion
3. C.labelling
4. D.branding

The factors that influence the performance of marketing activities of a firm is marketing.

1. A.orientation
2. B.intelligence
3. C.audit
4. D.environment

Which of the following factors would influence a company's decision to change its production process?

1. A.Technological factor
2. B.Social factor
3. C.Political factor
4. D.Demographic factor

The set of variables a confectionery company uses to execute its marketing strategy is marketing.

1. A.mix
2. B.plan
3. C.tactics
4. D.policy

Iron ore is classified as

1. A.secondary product
2. B.semi-finished product
3. C.consumer product
4. D.primary product

Which of the following items is an example of primary product?

1. A.Cotton
2. B.Handkerchief
3. C.Shirt
4. D.Head tie

A product that is bought frequently on impulse at lower prices is

1. A.industrial goods
2. B.unsought goods
3. C.convenience goods
4. D.specialty goods

Use the following information to answer questions 11 and 12.
OJ Ltd is a bakery that produces bread and confectioneries while Ernest Super Market buys its products.
OJ Ltd is an example of

1. A.a consumer market
2. B.an industrial market
3. C.a government market
4. D.a reseller market

Use the following information to answer questions 11 and 12.
OJ Ltd is a bakery that produces bread and confectioneries while Ernest Super Market buys its products.
Ernest Super Market is classified as

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

The last stage in the buying decision process is the

1. A.purchase decision
2. B.information search
3. C.post-purchase behavior
4. D.evaluation of alternatives

The systematic process of obtaining and analyzing data to provide information for marketing decision making is

1. A.marketing research
2. B.marketing planning
3. C.market forecasting
4. D.market segmentation

A source of primary data for marketing research is

1. A.sales report
2. B.customer's feedback
3. C.inventory report
4. D.marketing budget

Which of the following factors is not a price determinant?

1. A.Cost of production
2. B.Competitor's prices
3. C.Level of demand
4. D.Consumer's culture

Which pricing strategy is adopted by a company that sells its product for N200 when the prevailing market price for same product is N150?

1. A.Skimming pricing
2. B.Penetrating pricing
3. C.Psychological pricing
4. D.Competitive pricing

Which of the following pricing strategies is used by wholesalers of industrial goods?

1. A.Cost-plus pricing
2. B.Demand based pricing
3. C.Penetration pricing
4. D.Haggling pricing

Use the following information to answer questions 20 and 21.
ABC Foods has recently expanded its production capacity and is searching for a medium for advertising its products at a lower cost.
Which of the following advertising media would be suitable for the company?

1. A.Television
2. B.Newspaper
3. C.Radio
4. D.Magazine

Use the following information to answer questions 20 and 21.
ABC Foods has recently expanded its production capacity and is searching for a medium for advertising its products at a lower cost.
A benefit that the company would derive from advertising the product is

1. A.increase in competition
2. B.increase in market share
3. C.decrease in production cost
4. D.decrease in tax liabilities

Sales promotion is important because it enables a business to

1. A.fix prices for its products and services
2. B.locate customers in different areas
3. C.stimulate demand for its products
4. D.create competition between different products.

A form of sales promotion that rewards customers for consistently purchasing a company's product is

1. A.loyalty scheme
2. B.quantity discount
3. C.promotional allowance
4. D.sales contest

A person who carries out point-of sales promotion is

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

Which of the following institutions is not a marketing intermediary?

1. A.Major distributors
2. B.Wholesalers
3. C.Financial firms
4. D.Retailers

Use the following information to answer questions 26 and 27.
BIK Ltd has developed a new health application for the public.
Which of the following means would be used by the company to make the service available to the target market?

1. A.mail order
2. B.internet
3. C.merchandising
4. D.direct marketing

Use the following information to answer questions 26 and 27.
BIK Ltd has developed a new health application for the public.
Which of the following illustrations would be used to distribute the application?

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

Air transport is preferred to other modes because it is

1. A.faster in transporting goods for long distance.
2. B.relatively cheaper than other modes
3. C.affected by weather conditions
4. D.suitable for door-to-door services

An activity performed in a warehouse is

1. A.production of goods
2. B.sorting and labelling
3. C.repairs and maintenance
4. D.purchasing of raw materials

A specialized facility used for the storage of fruits and vegetables is

1. A.refrigerator
2. B.barn
3. C.silo
4. D.tank

Use the following information to answer questions 32 to 34.
The yam sellers in Alesinloye trading area in Kano formed an organization
The type of organization formed by the yam sellers is a

1. A.trade union
2. B.market operator
3. C.market union
4. D.trade association

Use the following information to answer questions 32 to 34.
The yam sellers in Alesinloye trading area in Kano formed an organization
Which of the following functions would be performed by the organization?

1. A.Provision of overdraft to members
2. B.Rendering security services to members
3. C.Provision of employment to members
4. D.Disseminating information to members

Use the following information to answer questions 32 to 34.
The yam sellers in Alesinloye trading area in Kano formed an organization
Which of the following reasons would have informed the formation of the association? To

1. A.advertise goods for producers
2. B.provide warehouse facilities to producers
3. C.protect the interest of members
4. D.provide insurance services to members

Use the following information to answer questions 35 and 36.
Muyi sets up a poultry business at the outskirts of Oshogbo upon retirement from the civil service.
Muyi is regarded as

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

A source of financing option available to a provision store owner is

1. A.sale of shares
2. B.issue of debentures
3. C.leasing
4. D.personal savings

A delivery note that accompanies goods to the buyer shows

1. A.price of goods bought
2. B.quality of goods bought
3. C.quantity of goods bought
4. D.discount on goods bought

Use the information below to answer questions 39 and 40.
The inscription V-Cough on the product is an example of a

1. A.trademark
2. B.brand name
3. C.patent
4. D.copyright

Use the information below to answer questions 39 and 40.
The part represented by the letter Z is the

1. A.brand
2. B.package
3. C.label
4. D.copyright

(a) State five functions of a wholesaler.
(b) Outline five factors that would influence the choice of a distribution channel by a producer.

Mr Oke, the head of the purchasing committee in BIQ Ltd bought a television set for his family.
(a) Explain the first four steps Mr Oke took in buying the television.
(b) List and explain four factors that would influence the committee's buying behaviour.

JK Ltd, a Nigerian company decides to expand its operations to the South African Market.
(a) State four reasons that would have necessitated the company's decision.
(b) List and explain four entry modes the company could use to enter the South African market.

(a) List two components each of the 4p's of marketing.
(b) List and explain four external factors affecting the marketing environment.

Jo-Bo, a young graduate established a retail outlet in his neighbourhood instead of seeking for a paid employment.
(a) State five activities Jo-Bo would carry out to ensure continuous patronage by customers.
(b) State five benefits Jo-Bo would derive from his decision.

(a) State five factors that a manufacturer would consider before setting prices for his products.
(b) Explain five advantages of television over electronic billboard as a medium of advertising.