WAEC Marketing 2024 past questions and answers

The process of identifying needs, delivering and exchanging products that have value for customers is

1. A.sales.
2. B.distribution.
3. C.marketing.
4. D.advertising.

Which of the following activities is a function of marketing?

1. A.Advertising.
2. B.Production.
3. C.Store keeping.
4. D.Maintenance.

The business concept that states consumers would buy any item once it is of high quality is

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

The concept applied by ABC Ltd. if it analyses its customers' needs before providing goods to satisfy them is

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

A component of place as a marketing mix element is

1. A.warrantee.
2. B.packaging.
3. C.warehouse.
4. D.discount.

The environmental factor that influenced the relocation of a company from Lagos to Kano as a result of high taxes and levies is

1. A.religious factor.
2. B.technological factor.
3. C.political factor.
4. D.social factor.

An element of the marketing mix that deals with storage of goods is

1. A.product.
2. B.price.
3. C.place.
4. D.promotion.

A part of a product with a primary function of protecting the content is the

1. A.brand name.
2. B.trademark.
3. C.container.
4. D.label.

Which of the following categories of products is classified based on usage?

1. A.Mineral and non-mineral products.
2. B.Consumer and industrial goods.
3. C.Oil and non-oil products.
4. D.Goods and services.

Lubricants purchased by a firm and used up in their cause of operations are classified as

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

Market is broadly classified as

1. A.consumer and organizational markets.
2. B.retail and wholesale markets.
3. C.consumer and wholesale markets.
4. D.industrial and government markets.

Which of the following buyers of products are classified as consumer market?

1. A.Industries.
2. B.Retailers.
3. C.Households.
4. D.Governments.

Cognitive dissonance occurs when a customer

1. A.is satisfied with a product.
2. B.is dissatisfied with a product.
3. C.re-buys a product.
4. D.recommends a product.

A consumer's buying behavior is influenced by

1. A.professional opinion.
2. B.reference group.
3. C.company's strategy.
4. D.company's plan.

The first step in the marketing research process is

1. A.data analysis.
2. B.problem definition.
3. C.collection of data.
4. D.reporting of findings.

Which of the following information would be relevant in marketing research for industrial goods?

1. A.Consumption pattern.
2. B.Lifestyle of consumers.
3. C.Product life-cycle.
4. D.Size of the product.

Use the following information to answer questions 17 to 19.
KPKC Ltd bought 60 packs of beverages at ₦150 each and sold at a 20% mark-up
The pricing strategy adopted by KPKC Ltd is

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

Use the following information to answer questions 17 to 19.
KPKC Ltd bought 60 packs of beverages at ₦150 each and sold at a 20% mark-up
The total cost of the beverage is

1. A.₦1,800.
2. B.₦7,200.
3. C.₦9,000.
4. D.₦10,800

Use the following information to answer questions 17 to 19.
KPKC Ltd bought 60 packs of beverages at ₦150 each and sold at a 20% mark-up
The selling price per pack is

1. A.₦30.
2. B.₦120.
3. C.₦150.
4. D.₦180.

An advantage of using radio as a medium of advertising is that it has

1. A.wide geographical coverage.
2. B.visual and motion effect.
3. C.unlimited time availability.
4. D.long lasting effect.

Newspapers, magazines and pamphlets are examples of

1. A.electronic media.
2. B.print media.
3. C.social media.
4. D.broadcast media.

Use the following information to answer questions 22 and 23.
ABC Bakery has decided to implement an incentive scheme to encourage bulk buying due to low sales affecting the company.
The discount that is suitable for the company to achieve its objective is

1. A.seasonal discount.
2. B.cash discount.
3. C.functional discount.
4. D.quantity discount.

Use the following information to answer questions 22 and 23.
ABC Bakery has decided to implement an incentive scheme to encourage bulk buying due to low sales affecting the company.
Another sales promotional incentive the company could adopt to stimulate sales is

1. A.advertising.
2. B.public relations.
3. C.free samples.
4. D.personal selling.

The process of designing and producing containers and wrappers for a product is

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

A channel member responsible for bulk breaking is the

1. A.producer.
2. B.agent.
3. C.consumer.
4. D.wholesaler.

A highly priced industrial product would be distributed using

1. A.indirect channel.
2. B.intensive distribution.
3. C.direct channel.
4. D.selective distribution.

A document that contains information relating to goods being transported is

1. A.waybill.
2. B.receipt.
3. C.licence.
4. D.invoice.

Which of the following distribution methods is used by a sachet water company that sells its products to households?

1. A.Indirect distribution.
2. B.Exclusive distribution.
3. C.Direct distribution.
4. D.Intensive distribution.

The process of attaching or printing information about a product on the package is

1. A.branding.
2. B.labelling.
3. C.designing.
4. D.cataloguing.

A function of marketing that deals with the movement of goods and salesmen from one location to another is

1. A.warehousing.
2. B.transportation.
3. C.distribution.
4. D.promotion.

Use the following information to answer questions 32 and 33.
Saka Ltd. Has decided to engage in international marketing but wants to minimize the risk involved.
Which of the following reasons would have influenced the foreign company's decision?

1. A.Increase regulation in the foreign market.
2. B.High labour cost in the foreign market.
3. C.Low demand in domestic market.
4. D.Availability of subsidies in domestic market.

Use the following information to answer questions 32 and 33.
Saka Ltd. Has decided to engage in international marketing but wants to minimize the risk involved.
The mode of entry that would be suitable for the company is

1. A.exporting.
2. B.direct investment.
3. C.joint venture.
4. D.licensing.

An association of traders belonging to the same line of business is a

1. A.cooperative society.
2. B.merchant association.
3. C.market facilitator.
4. D.market union.

The process of entering a new market by paying a fee for using another company's brand name is

1. A.exporting.
2. B.licensing.
3. C.direct ownership.
4. D.joint venture.

Ernest Ltd's efforts to promote and sell its fruit juice through the company's website is an example of

1. A.e-payment.
2. B.e-marketing.
3. C.e-procurement.
4. D.e-transaction.

Services offered to customers by a firm to encourage continuous patronage of the company's products is

1. A.pre-sale services.
2. B.after-sales services.
3. C.self-services.
4. D.merchandising services.

Mr. John who identified people's need for pop-corn and met it at a profit is a

1. A.researcher.
2. B.factor.
3. C.marketer.
4. D.facilitator.

A factor that would be considered in the choice of transportation mode is

1. A.location of customers.
2. B.product brand.
3. C.government policy.
4. D.reliability of the means.

One distinctive feature of a supermarket is

1. A.pre-packing of goods.
2. B.after-sales services.
3. C.credit sales.
4. D.self-service.

(a) Explain the following terms in marketing: (i) Needs; (ii) Wants; (b) State four functions of marketing in a company.
(c) Explain four concepts of marketing.

(a) Define consumer products. (b) List and explain three modes of transportation a company could use for business. (c) List and explain three categories of industrial products.

AB Enterprises is currently experiencing a decline in sales of its products. (a) List eight sales promotional tools the company could use to reverse its sales trend. (b) State six benefits the company would derive from using sales promotional tools.

Yam sellers in a local market formed an association. (a) State four functions the association would perform to its members.
(b) List and explain four types of market facilitator that would assist members of the association in achieving their objectives.

Adamu intends to open a store to sell detergents as a major distributor for companies in the country. (a) List and expalin four sources from which Adamu could get funds to finance the business. (b) State four factors that would influence Adamu's choice of the location for the business.

OJ Ltd is a consumer goods manufacturing firm. They sell to retail outlets throughout the country. The company intends to increase its market share. (a) Explain the following terms in relation to the company's business activities: (i) Demand; (ii) Products; (iii) Market; (b) Outline two types of distribution channels the company could adopt. (c) State three functions each of the following channel members the comapny could use; (i) wholesaler; (ii) retailer.