2022 neco marketing essay answer

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NECO Marketing Questions and Answers 2023/2024 (Essay/Objectives)

NECO Marketing Questions and Answers 2023. I will be showing you past Marketing objectives and theory repeated questions for free in this post. You will also understand how NECO Marketing questions are set and how to answer them.

The National Examinations Council (NECO) is an examination body in Nigeria that conducts the Senior Secondary Certificate Examination and the General Certificate in Education in June/July and December/January respectively.

Table of Contents

NECO Marketing Objectives and Essay answers 2023 (Expo)

The 2023 NECO Marketing expo will be posted here today 4th August during the NECO Marketing examination. Keep checking and reloading this page for the answers.

NECO 2023 Marketing Answers Loading.. .

01-10: CABDAACCCA

11-20: DBDCDAAABA

21-30: BCADAEBEDE

31-40: ABDDCCDBAE

41-50: BADBACCACE

51-60: BEABDABBAC

NECO Marketing Essay Answers:

A product refers to a tangible or intangible item that is offered for sale or use and that is capable of satisfying a customer’s needs or wants. It could be a physical good such as a car or a smartphone or it could be a service such as insurance or a haircut.

(i) Consumer products: These are products that are purchased for personal use or consumption by individuals. Consumer products can be further classified into four categories:

– Convenience products: These are everyday products that are low-cost and frequently purchased with minimal effort. Examples include snacks toiletries and impulse-buy items.

– Shopping products: These are products that consumers spend more time and effort researching and comparing before purchasing. Examples include clothing electronics and furniture.

– Specialty products: These are unique or high-end products that have specific characteristics and are purchased with a specific purpose. Examples include luxury goods designer brands and customized products.

– Unsought products: These are products that consumers are not actively seeking out or aware of and often require marketing efforts to create demand. Examples include life insurance funeral services and some healthcare products.

(ii) Industrial products: These are products that are used in the production of other goods or services rather than being directly consumed by end-users. Industrial products can be further classified into two categories:

– Material and parts: These are raw materials components or sub-assemblies that are used in the manufacturing process. Examples include steel chemicals and electronic components.

– Capital items: These are long-lasting and expensive products that are used to run a business or facilitate production. Examples include machinery vehicles and buildings.

(i) Lack of market demand or poor market understanding: It is important for companies to thoroughly research and understand the customer needs preferences and current market trends before launching a new product. Failure to accurately identify and assess market demand can result in a product that does not meet customer expectations or solve a real problem leading to low sales and eventual failure.

(ii) Inadequate product differentiation or competitive positioning: With intense competition in the market it is crucial for a new product to offer unique features or benefits that set it apart from existing alternatives. If a new product does not have a clear and compelling value proposition it may struggle to attract customers and face difficulty in gaining market share. Additionally poor positioning relative to competitors can also lead to the failure of a new product.

(i) Mobilization of workforce: Before marketing their products firms need to mobilize their workforce. This involves the process of gathering and organizing a skilled and efficient team to carry out various tasks related to marketing. This includes hiring employees assigning roles and responsibilities providing training and development and ensuring that the workforce has the necessary resources and support to perform their tasks effectively.

(ii) Utilization of feedback: Feedback plays a crucial role in the marketing process. Firms need to gather feedback from customers stakeholders and other sources to understand their preferences needs and suggestions. This feedback is then analyzed and used to improve products services and marketing strategies. Utilizing feedback helps firms to stay responsive to customer demands and preferences and to make necessary adjustments to their marketing efforts.

(iii) Production of quality goods and services: Producing quality goods and services is vital for the success of any marketing campaign. Before marketing their products firms need to ensure that they have an efficient production process in place that delivers high-quality products or services. This involves setting quality standards implementing quality control measures and continuously monitoring and improving the production process to meet customer expectations.

(iv) Managing distribution network: An effective distribution network is essential for successful marketing. Firms need to establish a robust distribution network that ensures their products reach the target customers in a timely and efficient manner. This involves developing partnerships with distributors wholesalers retailers and other intermediaries managing inventory levels and coordinating logistics to ensure smooth product flow from production to consumption.

(v) Advertisement and promotion: Advertisement and promotion are crucial activities in marketing. Firms need to develop creative and compelling advertising and promotional campaigns to raise awareness about their products and persuade potential customers to make a purchase. This includes activities such as designing advertisements selecting appropriate media channels conducting market research identifying target audience and allocating budgets for advertising and promotion. Effective advertisement and promotion help firms to build brand recognition generate interest in their products and ultimately drive sales.

(i)Global reach: Internet marketing allows businesses to reach a global audience, regardless of their geographic location. This opens up immense opportunities to target customers from different countries and expand the customer base.

(ii)Cost-effective: Internet marketing is generally more affordable compared to traditional marketing methods such as television or print advertising. It allows businesses to target specific audiences and measure the return on investment (ROI) accurately, minimizing unnecessary expenses.

(iii)Higher customer engagement: Internet marketing provides various channels to engage with customers, such as social media, email marketing, and blog posts. These channels offer businesses an opportunity to connect with their target audience on a more personal level, fostering trust and loyalty.

sales promotion is a marketing activity that is designed to increase sales, encourage customer loyalty, or generate brand awareness. It usually involves offering a discount or some other type of incentive for customers to buy your product or engage with your brand.

(i) Increase sales: One of the primary objectives of sales promotion is to boost sales volume. By offering incentives, discounts, or limited-time promotions, companies aim to encourage customers to make immediate purchases and increase their overall sales revenue.

(ii) Create brand awareness: Sales promotion activities are often used to create awareness and generate interest in a brand or a specific product. By offering promotions, such as free samples or giveaways, companies can attract new customers and generate buzz around their brand.

(iii) Encourage trial purchases: Sales promotions can be used to motivate customers to try a new product or service. By offering trial incentives, such as free trials, money-back guarantees, or introductory offers, companies can encourage customers to take the first step and make a purchase.

(iv) Enhance brand loyalty: Sales promotion can help reinforce brand loyalty by rewarding existing customers for their repeat purchases. Loyalty programs, point systems, or exclusive offers targeted at loyal customers can help maintain a customer base and foster long-term relationships.

(v) Clear inventory or seasonal products: Sales promotions can be used to clear excess inventory or promote seasonal products. Discounts, special offers, or bundling can encourage customers to purchase these products, ensuring they don’t become deadstock and contributing to overall sales revenue.

(vi) Stimulate impulse buys: Sales promotion tactics, such as limited-time offers, flash sales, or attractive displays, can create a sense of urgency or desire for immediate purchase. By stimulating impulse buys, companies can increase their sales and capitalize on impulsive consumer behavior.

(i)Awareness

(ii)Information

(iii)Brand Loyalty

(iv)Persuasion.

Consumer market is a system where customers buy products and services for consumption or sharing with others rather than for reselling.

A consumer market is one where retailers sell goods and services to customers for personal use or consumption.

(i)Understand customer needs and preferences: Marketing research helps firms gain a better understanding of their target customers, their needs, preferences, and behaviours. By conducting surveys, focus groups, or analyzing market data, companies can gather information about consumer demographics, buying habits, motivations, and opinions. This knowledge helps firms tailor their products, pricing, distribution, and promotion strategies to better meet customer expectations.

(ii) Assess market opportunities: Marketing research allows firms to identify and evaluate market opportunities. It helps companies analyze market trends, competition, and customer demands to identify gaps or unmet needs. By conducting market segmentation analysis, firms can identify different customer segments with varying needs and develop unique marketing approaches for each segment.

(iii)Evaluate marketing initiatives: Marketing research helps firms assess the effectiveness of their marketing initiatives and campaigns. By conducting surveys, conducting brand recall studies, or analyzing sales and customer data, companies can measure the impact of their marketing efforts. This allows firms to understand what marketing strategies are working and what needs improvement.

(iv)Monitor and respond to market changes: Marketing research enables firms to monitor changes and trends in the market environment. By tracking customer preferences, competitor activities, technological advancements, or regulatory changes, firms can adapt and respond proactively. This allows them to stay ahead of market shifts, identify emerging opportunities or threats, and develop strategies to maintain their competitive edge.

(i)Strategic direction: Marketing planning helps businesses establish a clear strategic direction. By defining the company’s goals, objectives, and target market, businesses can align their marketing efforts with their overall business strategy. It ensures that marketing activities are focused and cohesive.

(ii)Market orientation: Effective marketing planning allows businesses to adopt a market-oriented approach. It involves conducting market research, analyzing customer needs and preferences, and understanding market trends and dynamics. By being customer-focused and market-driven, businesses can develop marketing strategies and tactics that resonate with their target audience.

(iii)Resource allocation: Marketing planning enables businesses to allocate their marketing resources effectively. It involves setting marketing budgets, determining resource needs, and prioritizing marketing activities. By having a well-defined plan, businesses can allocate their budgets and resources to the most impactful marketing initiatives.

(iv)Evaluation and control: Marketing planning provides a framework for evaluating and controlling marketing activities. By establishing specific objectives, targets, and key performance indicators (KPIs), businesses can measure the effectiveness and efficiency of their marketing efforts.

Intensive distribution: Intensive distribution is a strategy where a product is made available in as many outlets as possible within a given market. The goal is to maximize the product’s availability and accessibility to customers. This approach is often used for fast-moving consumer goods (FMCG) or low-cost items that have high demand. WHILE

Exclusive distribution: Exclusive distribution, on the other hand, is a strategy where a product is made available only through a limited number of carefully selected outlets within a specific market. This approach is commonly used for premium or luxury products, where maintaining control over the distribution channel is critical.

(i)Facilitating the physical movement of products: One of the primary functions of distribution channels is to ensure the efficient and timely movement of products from the point of production to the point of consumption. This involves activities such as transportation, warehousing, inventory management, and order fulfillment. Distribution channels help ensure that products are available in the right quantities, at the right locations, and at the right time.

(ii) Providing market coverage and accessibility: Distribution channels help overcome the geographical barriers between producers and consumers by expanding the reach and accessibility of products. They establish an extensive network of intermediaries, such as wholesalers, retailers, agents, and e-commerce platforms, that have direct access to customers in various locations and market segments. This allows producers to tap into new markets, increase market penetration, and reach a wider customer base.

(iii)Adding value through assortment and assortment functions: Distribution channels contribute to the creation of customer value by providing a wide assortment of products and services in one place. Retailers, for example, curate a range of products from different producers, giving customers the convenience of one-stop shopping. Distribution channels also perform assortment functions such as sorting, grading, and packaging, which enhances the appeal and value of products to customers. They ensure that products are readily available, properly packaged, and in suitable quantities, making them more appealing to consumers.

(iv) Facilitating communication and customer service: Distribution channels serve as a vital communication link between producers and consumers. They gather market intelligence, feedback, and insights from customers and provide them to producers, helping them make informed decisions. Channels also play a role in promotional activities, advertising, and personal selling, effectively communicating product features, benefits, and promotions to customers. Additionally, distribution channels provide customer support, after-sales service, and assistance, building customer trust, and satisfaction.

(1). Cost of Production: The cost to manufacture or acquire the product is a significant factor in setting its price. This includes raw materials, labor, overhead, and any other expenses incurred during production.

(2). Demand and Supply: The relationship between the demand for the product and the available supply plays a crucial role. If demand is high and supply is limited, the price is likely to be higher, and vice versa.

(3). Competition: The level of competition in the market can impact pricing. In a competitive market, businesses may set prices competitively to attract customers, while monopolies may have more control over pricing.

(4). Market Conditions: Economic conditions, consumer preferences, and trends in the market can influence pricing. For instance, during economic downturns, consumers may be more price-sensitive, leading to lower prices.

(5). Perceived Value: Customers’ perception of a product’s value affects its pricing. If customers see the product as offering unique features or benefits, they may be willing to pay a premium price.

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The questions below are the NECO past questions and answers that will help you in your 2023 Neco Marketing Questions.

The questions below are the NECO 2023 Marketing Practice Questions. Go through them and be ready to score high in your NECO 2023 Marketing Examination.

Tips on How to Pass NECO Marketing Questions

Following the tips provided in this post will help you score high in the upcoming NECO Marketing examination.

1. The performance of business activities that direct the flow of goods and services from producer to consumer is A. distribution. B. marketing. C. advertising. D. promotion.

2. Goods produced for immediate use by a household is classified as A. industrial goods. B. market goods. C. durable goods. D. consumer goods.

3. Which of the following is not a component of marketing mix? A. Price B. Product C. Profit D. Promotion

4. Which of the following is not influenced by consumer behavior? A. Lifestyle B. Culture C. Religion D. Distribution

5. In Nigeria, the body that ensures that its members operate according to their professional ethics is the

More objective questions and theory loading…

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Have a Target and Work Towards Actualizing it

You have decided to pass NECO Marketing 2023 and I am sure of that. Now, the next thing you should do is set targets.

You have told yourself, “I will score A in NECO Marketing 2023”, that’s not all. You need to plan on how to make it happen to make an excellent NECO result . Create a timetable and master plan to achieve your goals.

Get the Recommended Textbook on Marketing for 2023 NECO Examination

Normally, NECO recommends books for the examination. But apart from NECO Literature in English where certain novels are compulsory, you are free to use any good Marketing textbook to prepare for NECO 2022 exam.

Some textbooks are more difficult to understand. If you have any topic you are finding difficult to understand, then get a textbook that will simplify the topics and make life better for you.

Do not Skip Marketing Examples and Exercise you Come Across While Reading:

Many candidates are fond of skipping exercises and even examples while studying textbooks. In fact, we like notebooks so much that we could ask, “can I read my notebook and pass NECO Marketing 2023?” Don’t be scared of attempting exercises in Marketing. Face the challenges.

Note: The above questions are likely NECO Marketing Questions and Answers, not the real questions

If you have any questions about the NECO Marketing Questions and Answers 2023 , kindly drop your question in the comment box.

Last Updated on August 4, 2023 by Admin

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June/July NECO Marketing Questions 2024 Free Answers (Essay & Obj) 100% Verified Solution

All NECO 2024 Marketing essay and OBJ answers is now ready with us. for good result, check the 2024 NECO Marketing Questions June/July real solution only on bingmat. The exam will take place tomorrow 19th July, 2024. The National Examinations Council (NECO) is a Nigerian examination body responsible for conducting and administering national examinations at the secondary school level. NECO plays a crucial role in assessing and certifying students’ academic achievements across various subjects.

The NECO Marketing exam evaluates students’ knowledge of fundamental marketing principles, strategies, and consumer behavior. It emphasizes both theoretical concepts and practical applications in real-world marketing scenarios.

When it comes to to the art class, marketing is a very important subject. That is why we are making sure the answers are ready.

We wish to let all students know that marketing expo answers is now available with us. The questions papers has been seen by us and verified to be authentic and real.

Please note that our Marketing is not free. Do not expect the questions and answers posted here. To get the solution, Join us on WhatsApp and pay #700.

This article will not only reveal the NECO Marketing June/July expo questions and answers to you, but will serve as guide to obtaining excellent result in the subject..

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Is NECO Marketing Questions 2024 Answers Out?

Yes, bingmat team wish to inform all students that National examination board Marketing theory and Obj is officially out. The solutions are already posted to our VIP group and will be made available here later..

NECO has scheduled the Marketing exam for Friday, 19th July, 2024, with Papers III & II: Objective & Essay from 10:00 am to 12:00 noon.

As the exam consists of both theory and objective questions, students should thoroughly understand marketing concepts and practice answering multiple-choice questions effectively.

NECO Marketing Essay Answers

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*NECO 2024 Marketing THEORY ANSWERS*

[7/19, 6:46 AM] Honey! 😇🥰😍😚: MARKETING OBJ 01-10: DCDECCBBBC 11-20: ACDDADDCEB 21-30: CBAEECDBDB 31-40: EACCAEBCAE 41-50: CDEBDABBDE 51-60: ADBECCDBCB

COMPLETED NECO 2024 MARKETING ANSWERS*

`ANSWER FIVE(5) QUESTIONS ONLY“`

(1a) The marketing environment refers to the external factors and forces that affect a company’s ability to develop and maintain successful relationships with its target customers.

(1b) (i) Stimulates Economic Growth: Marketing plays a crucial role in stimulating economic growth by creating demand for products, services, and ideas. This leads to increased production, employment, and revenue generation, contributing to the country’s GDP. Additionally, marketing helps to diversify the economy, reducing dependence on a single industry. By promoting innovation, marketing also fosters the development of new industries and sectors.

(ii) Encourages Entrepreneurship: Marketing encourages entrepreneurship by providing opportunities for individuals to start their own businesses, creating jobs, and contributing to the country’s economic development. Marketing also provides entrepreneurs with the tools and knowledge they need to succeed, such as market research and competitive analysis. By promoting entrepreneurship, marketing helps to reduce unemployment and increase economic activity.

(iii) Increases Foreign Exchange Earnings: Marketing helps Nigerian businesses to compete globally, increasing exports and earning foreign exchange, which is essential for economic development. Marketing also helps Nigerian businesses to penetrate new markets and expand their customer base, leading to increased sales and revenue. By promoting Nigerian products and services abroad, marketing helps to improve the country’s balance of trade.

(iv) Improves Standard of Living: Marketing provides consumers with a wide range of products and services, improving their standard of living. It also creates awareness about products and services that can improve people’s lives, such as healthcare and education. By promoting competition among businesses, marketing helps to drive down prices and improve product quality, making goods and services more affordable and accessible to consumers. ===================================

(2a) (i) The selling concept focuses on the product and the seller’s needs, whereas the marketing concept focuses on the customer and their needs. (ii) The selling concept involves a push approach, where the seller tries to persuade the customer to buy the product, whereas the marketing concept involves a pull approach, where the customer is drawn to the product because it meets their needs.

(2b) (i) Product: This refers to the goods or services offered by the company. It involves developing a product that meets the needs and wants of the target market. A well-designed product can help differentiate the company from its competitors and build customer loyalty.

(ii) Price: This refers to the amount the customer pays for the product. Pricing decisions involve considering factors such as production costs, market conditions, and customer perceptions. Pricing strategies can include discounts, premiums, and price bundling to appeal to different customer segments.

(iii) Promotion: This refers to all the ways the company communicates with its target market, including advertising, sales promotions, public relations, and personal selling. Effective promotion can build brand awareness, generate leads, and drive sales conversions.

(iv) Place: This refers to the channels and processes used to deliver the product to the customer, including transportation, storage, and logistics. A well-managed distribution network can ensure that products are available to customers when and where they need them, improving customer satisfaction and loyalty. ===================================

(3) (i) Government Market: The government market, also known as public market or government procurement, refers to the purchase of goods and services by government agencies. This market is subject to specific regulations and procedures, and businesses must meet certain requirements to participate. (ii) Institutional Market: The institutional market refers to sales to institutions such as hospitals, schools, and universities. These institutions have specific needs and requirements, and sales to them often involve tenders and contracts. Businesses must understand the unique needs of institutional markets to succeed.

(iii) Reseller Market: The reseller market, also known as distribution channel or indirect market, refers to sales to intermediaries who resell products to end-users. Examples of resellers include wholesalers, retailers, and distributors. Businesses must build relationships with resellers to reach a wider market.

(iv) Product Development: Product development refers to the process of creating new products or improving existing ones. It involves research, design, testing, and launch, and aims to meet customer needs and stay ahead of competition. Businesses must invest in product development to remain competitive.

(v) Raw Materials: Raw materials refer to the basic materials used in production, such as metals, minerals, wood, and agricultural products. They are essential inputs for manufacturing and production, and businesses must source high-quality raw materials to ensure product quality. ===================================

(4a) (i) Consumer markets are driven by personal needs and wants, while organizational markets are driven by business needs and goals. (ii) Consumer markets typically involve individual decision-making, while organizational markets involve complex decision-making processes involving multiple stakeholders.

(4b) (i) Identifying Market Opportunities: To discover new market segments or niches that the firm can target.

(ii) Understanding Customer Needs: To gain insights into customer preferences, behaviors, and satisfaction levels.

(iii) Improving Marketing Strategies: To refine product offerings, pricing strategies, distribution channels, and promotional efforts.

(iv) Assessing Competitive Environment: To analyze competitors’ strategies, strengths, weaknesses, and market positioning.

(v) Forecasting and Planning: To predict market trends, demand patterns, and future sales potential.

(vi) Evaluating Marketing Performance: To measure the effectiveness of current marketing initiatives and make data-driven decisions.

(4c) (i) Systematic Process: Marketing research follows a structured and organized approach to gathering, analyzing, and interpreting data.

(ii) Objective Orientation: It aims to provide accurate and unbiased information to support decision-making, rather than confirming preconceived notions.

(iii) Data Collection: Involves collecting both primary data (gathered specifically for the research purpose) and secondary data (existing data sources).

(iv) Decision-Oriented: The ultimate goal of marketing research is to provide insights that help in making informed marketing decisions and solving business problems. ===================================

(5a) Warehousing refers to the storage and management of goods and products in a controlled environment, typically a large building or facility, to protect them from damage, deterioration, or loss.

(5b) (i) Storage: Warehouses provide a secure and controlled environment for storing goods and products, protecting them from damage, theft, or loss. This function helps businesses to manage their inventory levels and keep their products safe.

(ii) Inventory Management: Warehouses help businesses to manage their inventory levels by tracking and reporting on stock levels, locations, and movements. This function enables businesses to optimize their inventory levels, reduce stockouts, and improve order fulfillment.

(iii) Order Fulfillment: Warehouses play a critical role in order fulfillment by receiving, processing, and shipping customer orders. This function helps businesses to deliver products to their customers efficiently and effectively. (iv) Distribution: Warehouses serve as distribution centers, where goods are received from manufacturers, stored, and then shipped to customers or retailers. This function helps businesses to manage their supply chain, reduce transportation costs, and improve delivery times. ===================================

(6) (i) Cost-Plus Pricing: This strategy involves adding a markup to the total cost of producing a product to determine its selling price. This method ensures that the business covers its costs and makes a profit.

(ii) Competitive Pricing: This strategy involves setting prices similar to those of competitors in the market. This method helps businesses stay competitive and attract customers who are price-sensitive.

(iii) Value-Based Pricing: This strategy involves setting prices based on the perceived value of a product to the customer. This method takes into account the product’s unique features, quality, and benefits that differentiate it from competitors.

(iv) Market-Oriented Pricing: This strategy involves setting prices based on market conditions, such as supply and demand. This method takes into account the prices that customers are willing to pay and the prices that competitors are charging.

(v) Premium Pricing: This strategy involves setting high prices for products that are unique, innovative, or of high quality. This method takes advantage of customers’ willingness to pay more for products that are perceived as premium or exclusive. ===================================

(7) (i) Joint Ventures: A joint venture is a business partnership between two or more companies to achieve a specific goal or project. This partnership allows companies to share resources, expertise, and risks.

(ii) Exporting: Exporting refers to the sale of goods or services produced in one country to another country. This involves transporting goods across international borders and complying with regulations and laws.

(iii) Direct Investment: Direct investment occurs when a company invests in and manages a foreign business or establishes a new foreign business. This can include building factories, acquiring companies, or expanding existing operations.

(iv) Tariffs: Tariffs are taxes imposed by governments on imported goods. They aim to protect domestic industries, generate revenue, and influence trade relationships.

(v) Import Quota: An import quota is a limit set by a government on the quantity of goods that can be imported into a country within a specific period. This restriction aims to protect domestic industries and regulate trade flows. ===================================

(8a) Market segmentation is the process of dividing a larger market into smaller groups of consumers with similar needs, characteristics, or behaviors.

(8b) (i) Product Development: Merchandising involves creating and sourcing products that meet the needs and wants of the target market. This includes designing, producing, and sourcing products that are appealing and relevant to the target audience.

(ii) Product Pricing: Merchandising involves setting prices for products that balance profit margins with customer affordability and perceived value. This includes determining price points, discounts, and promotions.

(iii) Product Promotion: Merchandising involves promoting products through various channels, such as advertising, displays, and events. This aims to create awareness, generate interest, and drive sales.

(iv) Product Distribution: Merchandising involves managing the flow of products from the manufacturer to the end customer. This includes logistics, inventory management, and channel selection (e.g., retail, online, or wholesale). ===================================

(9a) Marketing planning is a strategic process that outlines how to achieve business goals through marketing efforts. It involves analyzing market opportunities, setting objectives, and allocating resources to execute marketing strategies. : (iv) Distribution: Warehouses serve as distribution centers, where goods are received from manufacturers, stored, and then shipped to customers or retailers. This function helps businesses to manage their supply chain, reduce transportation costs, and improve delivery times. ===================================

(9a) Marketing planning is a strategic process that outlines how to achieve business goals through marketing efforts. It involves analyzing market opportunities, setting objectives, and allocating resources to execute marketing strategies. (9b) (i) Market Analysis: Analyzing consumer behavior, market trends, and competitor activity to understand the marketing landscape. This involves gathering data and insights to identify market opportunities and challenges. Additionally, market analysis helps businesses stay up-to-date with industry developments and consumer preferences.

(ii) Goal Setting: Establishing specific, measurable, and achievable marketing objectives that align with business goals. These objectives should be clear, actionable, and aligned with the company’s overall mission and vision. Furthermore, goal setting helps marketing teams focus their efforts and evaluate their performance.

(iii) Segmentation and Targeting: Identifying and selecting specific customer segments to focus on, based on their needs, characteristics, and potential value. This involves dividing the market into distinct groups and selecting the most profitable segments to target. Additionally, segmentation and targeting enable businesses to tailor their marketing efforts to specific audience needs.

(iv) Marketing Strategy Development: Creating a comprehensive plan that outlines marketing tactics, resource allocation, and performance metrics to achieve marketing objectives. This plan should integrate all aspects of marketing, including product, price, promotion, and place. Moreover, marketing strategy development involves continuously monitoring and adjusting the plan to optimize results. ===================================

*COMPLETED*

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Tips For passing NECO Marketing exam

To excel in the NECO Marketing exam, focus on understanding key marketing concepts such as market segmentation, the 4Ps (Product, Price, Place, Promotion), and consumer behavior. Practice answering past exam questions and consider potential essay topics like the role of digital marketing in modern business or the impact of advertising on consumer choices. Additionally, manage your time efficiently during the exam to ensure you address all sections thoroughly.

Getting NECO Marketing June/July questions And Answers 2024

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NECO marketing Questions and Answers 2024/2025 (obj & essay)

The 2024 NECO marketing Questions and Answers are out. All candidates can now access the free marketing answers on school Isle. Both the objective and theory questions and answers are available.

Note: school isle has you at heart. Therefore you don’t need to pay any dime to subscribe as all real questions will be posted here during your examinations. Any website requesting you to pay may scam you.

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2024 NECO questions and answers for marketing

All NECO 2024 marketing real expo will be posted here shortly and for free. Keep refreshing this page for more info…

Currently, we’re solving all questions for you to ensure that we provide you the best answers here. Therefore, save this link and come back later. Or, keep refreshing for more updates…

Today’s NECO SSCE marketing examination will consist of paper one and two. Paper I is the objective questions while paper Ii is the essay questions.

I’m glad to inform you that we also have areas where your questions were set from. These topics are called areas of concentration. While we have the question papers here and solving them, do well the check out the marketing areas of concentration where NECO have set their questions from.

You’re expected to give your answers according to these topics.

If you have any questions to ask, please drop a comment below.

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NECO 2022 Economics Obj & Essay Questions And Answers Now Available

August 2, 2022 Wakagist Admin Neco 0

2022 NECO ECONOMICS ANSWERS *************************************** *************************************** OBJ: 01-10: BDECEEEAAE 11-20: AECCDBAABA 21-30: EAAAEDDAAC 31-40: BAABBCEDBC 41-50: ABCAADCDED 51-60: DBCEAAABEE Completed.! *************************************** *************************************** THEORY ANSWERS!!

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(3a) Wants are the insatiable desire or need by human beings to own goods or services that give satisfaction. Human wants or needs are many and are usually described as insatiable because the means of satisfying them are limited or scarce.

(3b) Scarcity is the limited supply of resources which are used for the satisfaction of unlimited wants. Scarcity is the inability of human beings to provide themselves with all the things they desire or want. These resources are scarce relative to their demand.

(3c) Choice refers to a system of selecting or choosing one out of several alternatives. Choices arise as a result of numerous human wants and the scarcity of the resources used in satisfying these wants. Choice, therefore, arises as a result of scarcity of resources.

(3d) Scale of preference refers to a list of unsatisfied wants arranged in the order of their relative importance. It is a list showing the order in which we want to satisfy our wants arranged in order of priority. On the scale of preference, the most pressing wants come first and the least pressing ones come last.

(3e) Opportunity cost is an expression of cost in terms of forgone alternatives. It is the satisfaction of one’s want at the expense of another want. It refers to the wants that are left unsatisfied to satisfy another more pressing need. *************************************** ***************************************

(4) {CHOOSE ANY FIVE} (i) Allocation of resources: The study of economics enables the government to allocate scarce resources to various sectors of the economy.

(ii) Development of programmes: It also enables the government to develop certain programmes that are beneficial to the people.

(iii) Rational decision: Economics enables individuals to choose certain wants among the numerous needs, using their scarce resources.

(iv) Preparation of budget: Economics assists the government to determine the expected income and expenditure of a country.

(v) Solutions to economic problems: Economics also enables individuals, firms and governments to solve their problems using various principles of the subject

(vi) Production: The study of economics assists us to determine what to produce when to produce, factors of production and how to produce goods and services required to satisfy human wants.

(vii) Provision of basic tools: The study of economics provides basic tools for analysing economic problems among individuals, firms and governments.

(viii) Maximisation of profits: Economics enables traders and businessmen to maximise their profits using economic principles in their business. *************************************** ***************************************

(6a) A monopoly is a term used to refer to a market structure, where one entity, like a company, dominates the market with its products or services. Monopoly comes into existence when there is extreme free-market capitalism. In free-market capitalism, there are usually no restrictions. A single company can enlarge, hence dominating the entire market with a given product or service

(6b) (i)Patent Right: A patent right is an act securing to a person or a firm the exclusive right of the invention. This helps to protect his invention from being imitated.

(ii) Natural Monopoly: This occurs when particular natural resources can be found in a particular place or country only. This now makes them have control over such resources and commodities produced by them. E.g. communication, electricity, or Nigeria as a sole producer of crude oil in West Africa.

(iii) Deliberate Act of Government: This occurs when the government grants a firm the exclusive or sole right to a trade e.g. public corporation.

(iv) Huge Cost of Production: Some firms require a very huge amount of money to be established, this normally prevents most producers from producing such product and thereby grants few firms that can afford it a monopolist right. *************************************** ***************************************

(7a) A co-operative society is a voluntary association of persons, businessmen, traders or organization with common needs and interests. The resources of members are pooled together to promote the economic and welfare interest of the members.

(7b) {CHOOSE ANY THREE} (i)Producers Co-operative Society (ii)Wholesale Co-operative Societies (iii)Retails Co-operative Society (iv)Consumers’ Co-operatives Society

(i)Producers Co-operative Society: This is an association of producers of similar commodity who have come together for the promotion of the market for their products. They could also purchase tools and raw materials in bulk and share or sell them to members at reduced prices.

(ii)Wholesale Co-operative Societies: Association of wholesalers buying in large quantities from the Manufacturer

(iii)Retails Co-operative Society: This is an association formed by many small independent retailers pooling their resources together and buying in bulk either from the manufacturers or wholesalers.

(iv)Consumers’ Co-operatives Society: This is formed by consumers who pool their resources together to buy essential commodities in bulk direct from manufacturers. Such commodities are then distributed or sold at reasonable prices to members. *************************************** ***************************************

(9a) Demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given period of time.

(9b) (i) Price of the Product: There is an inverse (negative) relationship between the price of a product and the amount of that product consumers are willing and able to buy.

(ii) The Consumer’s Income: The effect that income has on the amount of a product that consumers are willing and able to buy depends on the type of good we’re talking about.

(iii) The Price of Related Goods: As with income, the effect that this has on the amount that one is willing and able to buy depends on the type of good we’re talking about.

(iv) The Tastes and Preferences of Consumers: This is a less tangible item that still can have a big impact on demand. There are all kinds of things that can change one’s tastes or preferences that cause people to want to buy more or less of a product. *************************************** ***************************************

(12a) An Industry can be defined as a group of firm producing similar product and under separate administration of management

(12b) (i) Tax Concessions to pioneer Industries: The federal government give tax Concession to pioneer Industries for a specified number of years during which the industry will not pay tax (ii) Protection of infact industries: the government protect infact industries through high import duties and outright ban or placement of quotas or imported commodities which compete with those of home industries (iii) Development of infrastructure facilities: Government has also embark on construction of better road networks especially the express roads efficient telecommunications, electricity and water supply system (iv) Establishment of Industrial Estate: The government should also Establish industrial estate and thus reduce the problems of locating industries in urban areas (v) Establishment of Nigerian Enterprises Promotion Decree: the Nigerian Enterprises of promotion decree of 1972 was set up by the Federal military government in an attempt to transfer part of the profits. Generated in Nigeria to the local people *************************************** *************************************** Completed..!

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Neco past questions and answers pdf.

September 19, 2023 Victoria Jackson NECO , Past Questions 0

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1.The study of past events simply refers to A. myths. B. folklore. C. legends, D. history. E. politics.

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NECO Marketing Past Questions and Answers PDF Free Download

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NECO MARKETING AND OBJECTIVE AND ESSAY

Neco marketing objective question sample june/july 2014.

1. A merchandiser is the individual who is responsible for the A. security of goods in the retail store. B. quality control of goods produced. C. availability of products at the right position in the retail store. D. advertising of products on television.

2. The task of promoting and delivering goods and services to meet consumers’ satisfaction is A. production. B. marketing. C. communication. D. selling.

3. The emphasis of marketing concept is to put A. consumers first. B. products first. C. consumers last. D. products last.

4. Which of the following activities is performed in the warehouse? A. Stabilization of prices of goods B. Grading and sorting of goods C. Elimination of seasonal problems D. Pricing of goods

5. The component of product as a marketing mix element is A. size. B. allowance. C. wholesaler. D. publicity.

6. An idea or event offered for sale is A. promotion. B. place. C. price. D. product.

7. Toothpaste is an example of A. convenience goods. B. industrial goods. C. primary goods. D. unsought goods.

8. Which of these factors would facilitate the successful operation of a company in international market? A. Differences in domestic and foreign cultures B. Existence of companies producing similar products C. Provision of government subsidies to foreign investors D. Availability of local currencies

9. Which of the following activities is not a function of advertising? To A. remind potential customers. B. persuade potential customers. C. interact with potential customers. D. inform potential customers.

10. The distribution channel suitable for the sale of tractor is A. manufacturer -» retailer -> user. B. manufacturer —» wholesaler —> retailer -» user. C. manufacturer —> agent —» retailer —> user. D. manufacturer -» agent —» user.

11. A factor to be considered in the choice of a mode of transporting goods is the A. price of the goods. B. nature of the goods. C. brand of the goods. D. packaging of the goods.

12. A price reduction to reward dealers for participating in advertising and sales support programmes is a A. seasonal discount. B. sales contest. C. promotional allowance. D. quantity discount.

NECO Marketing Theory Question Sample June/July 2014

1. Explain the following classification of products with two examples each from agricultural based products, (a) industrial products; (b) consumer products; (c) primary products; (d) secondary products;

2.(a) State five reasons companies conduct marketing research, (b) Explain the following sales promotional tools:

(i) price-off; (ii) salesman competition; (iii)Free gifts; (iv) premium offer (v) samples;

3. (a) Illustrate any four channels of distribution for consumer products. (b) List and explain any four pricing strategies.

4. (a) What is transportation? (b) List and explain six factors affecting the choice of transportation mode,

5. (a) What is a market union (b) State four functions of market facilitators, (c) The women in Eke market formed a Garri Seller’s Union. State five role of this Union.

6. Mamaput is a popular eatery in the city centre and wants to open up more outlets in other parts of the city. (a) State four sources of fund to finance the proposed expansion by Mamaput. (b) Explain four factors that would influence the location of the new outlets.

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CLICK HERE TO VIEW ANSWER No. 1 on Marketing

Product refers to the item actually being sold and any item that intends to satisfy the needs and wants of a target customer. It can be a tangible good, such as a clothing item or piece of software, or intangible, like services, experience or ideas.

(i) Consumer Products: These are products that are purchased by individuals for personal use and consumption. Consumer products can be further categorized into four types based on consumer behavior and buying habits. They include Convenience Products which are everyday items that consumers buy frequently with minimal effort, often without much comparison or consideration, e.g, snacks, toiletries, and newspapers; Shopping Products which are Products that consumers compare and evaluate before making a purchase decision, e.g, clothing, electronics, and furniture; Specialty Products which are unique or high-end products for which consumers show strong brand loyalty and are willing to go out of their way to obtain, e.g, luxury cars, designer fashion, and premium electronics; Unsought Products which are products that consumers are not actively seeking or may not even be aware of. These products usually require strong marketing efforts to generate demand, e.g, life insurance or funeral services.

(ii) Industrial Products: These are goods and services that are used by organizations and businesses in the production of other goods and services. Industrial products can be 'copied from e x a m p l a z a . c o m free' further categorized into Materials and Parts which Products used in the production process of other goodse.g, raw materials, components, and sub-assemblies; Capital Items which are long-lasting goods used by businesses to produce other products, e.g machinery, equipment, and buildings; Supplies and Services which are products that are used in day-to-day operations but do not become part of the final product, eg, office supplies, maintenance services, and business consultancy.

(PICK ANY TWO)

(i) Poor Market Research: When businesses fail to thoroughly research and understand their target audience's preferences, pain points, and demands, they risk introducing a product that does not address real customer needs. Without a clear understanding of the market, the product may not gain traction or generate sufficient demand, leading to failure.

(ii) Inadequate Product Differentiation: In a competitive marketplace, a new product needs a clear differentiation from existing alternatives. If the new product lacks distinctive features, benefits, or advantages compared to competitors, consumers may not see a compelling reason to switch or adopt it. Successful products often offer innovative solutions or unique features that resonate with customers and set them apart from the competition.

(iii) Poor Marketing and Positioning: Even if a product has potential, inadequate marketing efforts can lead to failure. Poorly 'copied from e x a m p l a z a . c o m free' executed marketing campaigns, unclear positioning, or insufficient promotion can result in low brand awareness, limited visibility, and a failure to communicate the product's value to the target audience. Effective marketing strategies are essential to create buzz, educate consumers, and build demand for the new product.

(iv) Quality Issues: Products that suffer from poor quality control can quickly lead to failure. Consumers expect products to function as promised and provide a satisfactory experience. A product that is unreliable, difficult to use, or prone to defects can damage the brand's reputation and lead to negative reviews and returns. Quality assurance and rigorous testing are crucial to ensure a product meets or exceeds customer expectations.

(v) Insufficient Resources: Launching a new product requires adequate resources, including funding, skilled personnel, and time. Insufficient resources or poor execution can result in rushed development, incomplete features, or a lack of support. A product that is not fully developed, tested, or supported may lead to dissatisfaction among early adopters and hinder its success.

CLICK HERE TO VIEW ANSWER No. 2 on Marketing

(i) Mobilization of Workforce: Before firms market their products, they need to mobilize their workforce, which involves preparing and organizing the human resources required for various tasks. This includes hiring, training, and allocating responsibilities to employees. Mobilization ensures that the team is adequately equipped to execute marketing strategies, manage customer interactions, and handle operational aspects effectively.

(ii) Utilization of Feedback: Utilizing feedback is a crucial step for firms to improve their products and services. This involves actively seeking input from customers, analyzing their opinions, suggestions, and complaints, and using this information to make necessary adjustments. Feedback helps companies understand customer preferences, identify areas for improvement, and enhance the overall customer experience.

(iii) Production of Quality Goods and Services: Producing quality goods and services is fundamental for a successful marketing effort. Firms must ensure that their products meet or exceed customer expectations. Quality control measures, adherence to industry standards, and continuous improvement efforts contribute to building a reputation for reliability and customer satisfaction.

(iv) Managing Distribution Network: A well-managed distribution network is essential to ensure products reach customers efficiently and on time. Firms need to establish effective channels for 'copied from e x a m p l a z a . c o m free' product distribution, which may include wholesalers, retailers, e-commerce platforms, and direct sales. Managing the distribution network involves logistics, inventory management, order fulfillment, and maintaining strong relationships with intermediaries.

(v) Advertisement and Promotion:

Advertisement and promotion are vital to create awareness, attract potential customers, and communicate the value of products. Firms develop strategic advertising campaigns across various media channels to reach their target audience effectively. Promotion efforts may involve discounts, special offers, contests, and public relations activities to generate interest and encourage purchases.

CLICK HERE TO VIEW ANSWER No. 3 on Marketing

(PICK ANY FIVE)

(i) Global Reach: Internet marketing allows businesses to reach a global audience without the limitations of geographical boundaries.

(ii) Audience Targeting: Through various online channels, businesses can target specific demographics, interests, and behaviors, ensuring that their marketing efforts are directed at the most relevant and potential customers.

(iii) Cost-Effectiveness: Internet marketing often proves to be more cost-effective than traditional forms of advertising, such as print or TV ads. Online platforms, such as social media and search engines, offer cost-efficient advertising options with flexible budgets, allowing businesses of all sizes to allocate their resources effectively.

(iv) Enhanced Customer Engagement: Online marketing facilitates direct interaction with customers through social media, email, and other channels. Engaging with customers in real-time creates a sense of community and trust, fostering brand loyalty and encouraging repeat business.

(v) 24/7 Availability and Convenience: Internet marketing ensures that products and services are available to customers 24/7. This convenience allows customers to make purchases, access information, and engage with businesses at their preferred time and pace.

(vi) Diverse Content Formats: Internet marketing supports a wide range of content formats, including text, images, videos, 'copied from e x a m p l a z a . c o m free' infographics, and interactive elements. This versatility enables businesses to convey their messages creatively and engage audiences through various media, catering to different learning styles and preferences.

(vii) Measurable and Data-Driven Insights: Internet marketing provides extensive analytics and data tracking tools that enable businesses to measure the effectiveness of their campaigns in real-time. Marketers can gather data on website traffic, conversion rates, click-through rates, and more, allowing for informed decisions and continuous optimization.

CLICK HERE TO VIEW ANSWER No. 4 on Marketing

In-store Promoter

(PICK ANY THREE)

(i) Promoting the Coca cola Brand

(ii) Providing information about the Coca cola product

(iii) Engaging in conversations with customers to create a positive customer experience.

(iv) Distributing samples and promotional materials.

(v) Encouraging purchases

(vi) Gathering insights and opinions from customers

(i) Product Promotion: Jane Uche promotes Coca-Cola products by wearing branded attire and engaging with customers, creating brand visibility and generating interest.

(ii) Customer Interaction: Jane Uche interacts with customers, answering queries and providing information, enhancing the shopping experience and building a positive brand image.

(iii) Sampling and Trial Generation: Jane Uche offers product samples to shoppers, encouraging them to try Coca-Cola products and potentially make purchase decisions.

(iv) Influence and Purchase Encouragement: Jane Uche's presence and interactions influence customer decisions, potentially leading to increased sales of Coca-Cola products through her engaging and informative approach.

CLICK HERE TO VIEW ANSWER No. 5 on Marketing

Sales promotion refers to a set of marketing activities and strategies designed to stimulate short-term customer interest, engagement, and purchase of products or services. It involves various promotional techniques aimed at incentivizing potential customers to take immediate action, such as making a purchase, trying a product, or visiting a store.

(PICK ANY SIX)

(i) Increasing Sales Volume: Boosting sales and achieving higher revenue within a specific time frame.

(ii) Encouraging Repeat Purchases: Motivating existing customers to make multiple purchases, leading to increased loyalty.

(iii) Attracting New Customers: Drawing new customers to the brand or product through special offers or incentives.

(iv) Clearing Excess Inventory: Selling off surplus or outdated inventory to make room for new products.

(v) Introducing New Products: Generating interest and trial for new products entering the market.

(vi) Creating Brand Awareness: Enhancing brand visibility and recognition through promotional activities.

(vii) Building Customer Loyalty: Strengthening the relationship between the brand and its customers, fostering loyalty.

(viii) Gaining Market Share: Capturing a larger portion of the market by enticing customers away from competitors.

(PICK ANY FOUR)

(i) The provision of information about the products and services.

(ii) Stimulation of demand 'copied from e x a m p l a z a . c o m free' for goods and services.

(iii) Differentiation of products of different manufacturers thereby assist customers to make choices

(iv) Maintenance of quality of product since the goods must match the standard claimed by the advertisement.

(v) Introduction of new product or services.

(vi) It can be used to achieve monopoly

(vii) It is used to maintain the market share of a product

(vii) It is used to persuade customers to buy a particular product

(ix) It is used to educate the consumers on the use of the product.

CLICK HERE TO VIEW ANSWER No. 6 on Marketing

Marketing (Market) NECO Authentic Questions and Answer 2024 2024 NECO MARKETING: Marketing (Market) NECO Authentic Questions and Answer 2024 (6116) Welcome to official 2024 Marketing NECO answer page. We provide 2024 Marketing NECO Questions and Answers on Essay, Theory, OBJ midnight before the exam, this is verified & correct NECO Market Expo

CLICK HERE TO VIEW ANSWER No. 7 on Marketing

Consumer market refers to the group of individuals or households who purchase products or services for their personal consumption and use. It encompasses the transactions and interactions between businesses and individual consumers in the marketplace. Consumer market activities involve a wide range of goods and services, from everyday essentials to luxury items.

(i) Research helps firms gain insights into customer preferences, behaviors, and needs, enabling them to tailor products and services accordingly.

(ii) Research helps identify distinct consumer segments based on demographics, psychographics, and behaviors, allowing firms to target their marketing efforts effectively.

(iii) Research helps firms analyze competitors' strengths, weaknesses, strategies, and market positioning, aiding in developing competitive advantages.

(iv) Research informs the creation of new products or improvements to existing ones, aligning offerings with consumer demands.

(v) Research helps determine optimal pricing by assessing customer willingness to pay and evaluating price sensitivity.

(vi) Research assesses the effectiveness of marketing campaigns, helping firms allocate resources efficiently and refine strategies.

(i) Marketing planning provides a clear roadmap, guiding firms on how to 'copied from e x a m p l a z a . c o m free' achieve their marketing objectives and goals.

(ii) It helps allocate resources efficiently by identifying key priorities, ensuring optimal use of budget, time, and personnel.

(iii) Planning identifies potential challenges and opportunities, enabling firms to proactively address risks and adapt to changes in the market.

(iv) Marketing planning ensures consistent messaging and branding across various channels, enhancing brand recognition and consumer trust.

(v) Clear objectives in the plan enable firms to track progress, measure success, and make informed adjustments as needed.

(vi) Planning provides a framework for informed decision-making, reducing guesswork and promoting strategic thinking.

CLICK HERE TO VIEW ANSWER No. 8 on Marketing

Intensive distribution is a distribution strategy where a product is made available through as many retail outlets as possible within a given market area. This strategy is commonly used for convenience products that consumers buy frequently and prefer to purchase conveniently. Examples include soft drinks, snacks, and toiletries.

Whereas, Exclusive distribution is a distribution strategy in which a manufacturer grants exclusive rights to a single distributor or a limited number of distributors to sell its products in a specific geographic area or market segment. This approach is often used for specialty or luxury products that require a certain level of exclusivity or personalized service. Examples include high-end fashion brands and luxury cars.

(PICK ANY FOUR)

(i) Product Distribution and Availability:

Distribution channels ensure that products are efficiently transported from manufacturers to retailers or end consumers, ensuring widespread availability and accessibility.

(ii) Market Coverage and Expansion:

Distribution channels help expand market reach by enabling products to be offered in various geographical locations and reaching diverse customer segments.

(iii) Inventory Management:

Distribution channels facilitate proper inventory management by ensuring the right quantity of products is available at different points in the supply 'copied from e x a m p l a z a . c o m free' chain, minimizing stockouts and excess inventory.

(iv) Order Fulfillment and Logistics:

Distribution channels manage the logistics of order processing, packaging, shipping, and delivery, ensuring that products reach customers accurately and in a timely manner.

(v) Information Flow and Communication:

Channels of distribution provide a means for communication between manufacturers, distributors, retailers, and customers, conveying product information, promotions, and feedback.

(vi) Market Feedback and Customer Insights:

Distribution channels collect valuable feedback from intermediaries and customers, providing insights into market trends, consumer preferences, and areas for improvement.

(vii) Promotion and Marketing Support:

Distribution channels can contribute to promotional efforts by displaying and marketing products effectively, enhancing brand visibility and customer engagement.

(viii) Risk Management:

Channels help manage risks associated with transportation, storage, and market fluctuations, contributing to a more stable and secure supply chain.

CLICK HERE TO VIEW ANSWER No. 9 on Marketing

(i) Cost of Production: The cost of producing a product, including raw materials, labor, overhead, and other expenses, forms the basis for pricing. Businesses typically aim to set prices that cover production costs while allowing for a reasonable profit margin.

(ii) Competitor Pricing: The pricing strategies of competitors play a significant role in determining a product's price. Businesses may choose to price their products competitively, aiming to match or undercut rival prices, or differentiate themselves with premium pricing.

(iii) Market Demand: The level of demand for a product within the target market influences its price. If demand is high and supply is limited, prices may increase. Conversely, if demand is low, prices may decrease to stimulate sales.

(iv) Perceived Value: Customers' perception of a product's value influences their willingness to pay. Products with strong brand reputation, unique features, or perceived quality can command higher prices based on perceived value.

(v) Economic Conditions: Economic factors such as inflation, recession, and changes in consumers' purchasing power can impact pricing decisions. During economic downturns, businesses may adjust prices to remain competitive and maintain sales.

(vi) Government Regulation: If the price of the commodity and services is to be fixed as per the regulation of the 'copied from e x a m p l a z a . c o m free' government, it should also be borne in mind.

(vii) Distribution and Channel Strategy: The distribution channels used to deliver products to customers can affect pricing. If a product passes through multiple intermediaries, each adding their margin, the final price may be higher.

(viii) Marketing Method Used: Price is also influenced by the marketing method used by the company, e.g., commission which is to be paid to the middlemen for sale of the goods is also added to the price. Similarly, if the customers are to be provided “after sale service” facility, then those expenses are also added to the price.

GENERAL & QUESTIONS SECTION

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Neco marketing answers 2021/2022

By godwin emmanuel - july 2, 2022 | categories: education tags: academics, share this post:.

°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° MARKETING OBJ 1BAEDACDAAB 11DEBEBCCCAE 21EBDDABCCCC 31EBBDBCBDAA 41DAAADAAABE 51CABCBADBEB Completed °°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° MARKETING ESSAY (7ai) Market Environment is a term that is used to collectively identity all the elements that have some impact on the actual performance of a market. This includes events and factors that occur within the context of the market itself and also any elements that are based outside the market.

(7aii) Marketing Mix is a general phrase used to describe the did dent kinds of choices organizations have to make in the whole process of bringing a product or service to market. Marketing Mix simply means putting the right product in the right place, at the right price, at the right time. It is often synonymous with for Ps: Price, Product, Promotion and Place.

(7aiii) Promotion Mix is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product or service. Promotion Mix comprises elements such as: advertising, public relations, personal selling and sales promotion.

(7aiv) Government Market: The government market consists of government units at federal, state and local levels. Agencies at all levels purchase goods and services used in performing critical governments functions. Government are huge customers of all kinds of products.

(7av) Shopping Goods: These are goods/products consumers purchase and consume on a less frequent schedule compared to convenience products. Consumers are willing to spend more time locating these products since they are relatively more expensive than convenience goods. Examples are clothing products, personal services, electronic products and household furnishings. °°°°°°°°°°°°°°°°°°°°°°°°°′°°°°°°°°°°°°°°

(5a) Product life cycle refers to the length of time a product is introduced to consumers into the market until it’s removed from the shelves

(5b) (i) Introduction: This phase generally includes a substantial investment in advertising and a marketing campaign focused on making consumers aware of the product and its benefits.

(ii) Growth: If the product is successful, it then moves to the growth stage. This is characterized by growing demand, an increase in production, and expansion in its availability.

(iii) Maturity: This is the most profitable stage, while the costs of producing and marketing decline.

(iv) Decline: A product takes on increased competition as other companies emulate its success sometimes with enhancements or lower prices. The product may lose market share and begin its decline. °°°°°°°°°°°°°°°°°°°°°°°°°′°°°°°°°°°°°°°°

(6a) Bargaining is a type of negotiation in which the buyer and seller of a good or service dispute the price and the exact nature of the transaction with the goal of coming to an agreement.

(6b) (i) Communication: Essential communication skills include identifying nonverbal cues and verbal skills to express yourself in an engaging way. Skilled negotiators can change their communication styles to meet the listener’s needs

(ii) Active listening: Active listening skills are also crucial for understanding another’s opinion in negotiation. Unlike passive listening, which is the act of hearing a speaker without retaining their message, active listening ensures you’re able to engage and later recall specific details without needing information repeated.

(iii) Emotional intelligence: Emotional intelligence is the ability to control your own emotions and recognize others’ feelings, Being conscious of the emotional dynamics during negotiation can allow you to remain calm and focused on the core issues. If you’re unsatisfied with the current negotiation, express the need for a break so you and the other party can return later with refreshed perspectives.

(iv) Patience: Some negotiations can take a long time to complete, occasionally involving renegotiation and counteroffers. Rather than seeking a quick conclusion, negotiators often practice patience to properly assess a situation and reach the best conclusion for their clients.

(v) Planning: Negotiation requires planning to help you determine what you want. You should consider what’s the best possible outcome, what’s your least acceptable offer and what you will do if an agreement isn’t reached. The ability to prepare, plan and think ahead is crucial to a successful negotiation. Planning skills are necessary not only for the negotiation process but also for deciding how the terms will be carried out.

(vi) Problem-solving: Negotiation requires the ability to see the problem and find a solution. If a price is too high, how can it be lowered? If a resource is in short supply, what can be done to increase it? Being able to find unique solutions to problems may be the determining factor in compromise. °°°°°°°°°°°°°°°°°°°°°°°°°′°°°°°°°°°°°°°°

(9a) A marketing plan is an operational document that outlines an advertising strategy that an organization will implement to generate leads and reach its target market

(9b) (i) It helps in avoiding future uncertainties. (ii) It helps in management by objectives. (iii) It helps in achieving objectives. (iv) It helps in coordination and communication among the departments. (v) It helps the customers in getting full satisfaction.

(9c) (i) Continuous process (ii) Wide scope (iii) Aid to decision-making (iv) Uncertainty of conclusions: (v) Applied research (vi) Commercial intelligence °°°°°°°°°°°°°°°°°°°°°°°°°′°°°°°°°°°°°°°°

(2a) Market union are group of people that are responsible of coordinating and maintaining peace and order in the markets.

(2b) Primary products are the least- processed form of biological material that humans harvest for use e.g potatoes. WHILE Secondary products are product that are bought often in a routine manner without much though on regular basis e.g clothes

(2c) (i) They are responsible for settlement of disputes through negotiations,joint consultant and voluntary arbitration (ii)They prevent market union from exploitation of personal and political interest (iii)They also ensure availability of goods and services (iv)They englighten customers about products and services (v) They facilities communication between unions and its members °°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° °°°°°°°°°°°°°°°°°°°°°°°°°′°°°°°°°°°°°°°° Completed!!!

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NECO Agric Questions and Answers 2022/2023 (Obj, Essay & Theory)

March 29, 2022

Do you need the real NECO Agricultural science obj and essay questions and answers for 2021?

If yes, then you have come to the right place. Disregard ant website telling you to pay a certain amount to get the NECO 2021 Agric answers because you’re going to get it free of charge here.

In case you’re here for the practical instead, See; NECO Agric Practical Specimen & Answers

The NECO Agric Science paper is supposed to hold on the 30th of July 2021.

According to the timetable;

Friday 30th July 2021 . Paper III & II: Objective & Essay – Agricultural Science 10:00am – 12:30pm.

NECO Agric Science (Essay / Theory) Answers 2021 .

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NECO Agriculture Objective Answers (2020 Answers)

1-10: AEAAECDCCB

11-20: DECECAABDD

21-30: CCBAAAACCB

31-40: EEBDABCCCC

41-50: DCAEBDCEAB

51-60: BBCCEDCADB

How to pass NECO Agric Science

You can actually score grade A1 in your agric science for NECO this year by following this guide.

If you want to pass NECO agric science, you must:

Before the exam, read and practice previous questions to learn how to recognize organisms and their physical characteristics.
Bring your drawing tools and a pen inside the examination room.
Pay attention to what the teacher and examiner are saying.

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2022 NECO Physics (OBJ & Essay) Answers [29th July, 2021]

Waec english language past questions & answers (2008 – 2022) pdf | ssce & gce, you may also like, neco agric science (essay & obj) answers [30th july, 2021], download neco mathematics syllabus 2021 & 2022 pdf (complete topics).

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December 20, 2021

NECO Food And Nutrition Questions and Answers 2021/2022 (Essay and Objective)

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Stary Oskol city, Russia

The city of Belgorod oblast .

Stary Oskol - Overview

Stary Oskol is a city in Russia located in the Belgorod region, standing on the banks of the Oskol River, about 142 km northeast of Belgorod, 632 km south of Moscow.

The population of Stary Oskol is about 222,600 (2022), the area - 134 sq. km.

The phone code - +7 4725, the postal codes - 309500-309518.

Stary Oskol city flag

Stary oskol city coat of arms.

Stary Oskol city map, Russia

History of stary oskol.

In 1300, there was a village called Ugly on the the territory of the present city. Today, it is one of the districts of Stary Oskol. At that time, the village was part of the Grand Duchy of Lithuania and was a border crossing point on the border with the Golden Horde.

The settlement of Oskol was founded by Russian Tsar Fyodor Ioanovich’s order (Ivan’s the Terrible son) to protect the southern borders of the Russian kingdom in 1593. The bulk of the population were peasants and the military.

In 1617, the town was burned by the Poles. In 1625, 1642 and 1677, the Crimean Tatars approached Stary Oskol, but could not capture it. The town was renamed Stary Oskol (meaning Old Oskol) in 1655, when the town of Tsaryov-Alexeyev, located down the river, was renamed Novy Oskol (New Oskol). Fortifications of the town existed until the 18th century.

More Historical Facts…

Gradually, Stary Oskol turned into peaceful, commercial and merchant town - the center of an agricultural district. Industrial production was represented mainly by enterprises on processing agricultural products.

In 1780, the town got its coat of arms. In 1784, Stary Oskol like most Russian towns of that time was rebuilt according to a new plan signed by Empress Catherine II. A large number of brick houses were built, mostly two-story buildings. The historic center of Stary Oskol has been preserved to our time.

In the second half of the 19th century, the town had a wide network of schools, libraries, reading rooms, printing, secondary schools. In 1894, construction of the railway began, trade and industry began to develop rapidly.

Until the 1930s, there were eleven Orthodox churches in Stary Oskol. During the Second World War, Stary Oskol was occupied by the Germans from July 2, 1942 to February 5, 1943. In 1954, the city became part of the newly formed Belgorod region.

In the late 1960s - early 1970s, in connection with the active development of the Kursk Magnetic Anomaly (the most powerful iron ore basin in the world), Stary Oskol became a major center of iron and steel industry.

Stary Oskol was declared a city of three top-priority Komsomol construction projects. The largest enterprises: Lebedinsky Mining and Processing Plant, Stoilensky Mining and Processing Plant, Oskolsky Electrometallurgical Plant became not only the city-forming enterprises, but also the largest industrial enterprises of the country. Stary Oskol experienced a new birth.

Today, Stary Oskol is a rapidly developing city, one of the leading mining and metallurgical centers of Russia.

Stary Oskol views

Stary Oskol cityscape

Author: Nikolai Ivanov

The fountain on Friendship Boulevard in Stary Oskol

October movie theater in Stary Oskol

Author: Roman Riapolov

Stary Oskol - Features

The coat of arms of Stary Oskol is a shield divided in half diagonally, in the red field there is a rifle, in the green field - a golden plow. It reflects both military and agricultural importance of the town.

Stary Oskol is among Russian cities with the youngest population. The average age of its citizens is about 35 years. The main reason lies in the history of the city. In the second half of the 20th century, a large number of members of the Young Communist League came to Stary Oskol to participate in the construction of large industrial enterprises.

Unique reserves of iron ore, developed industry and infrastructure, high scientific, technical and industrial potential, fertile land form the basis of Stary Oskol economy.

The main branches of local industry are mining, ferrous metallurgy, machine building and metalworking, building materials, food industry. There are more than 140 large and medium industrial enterprises, which employ more than 80 thousand people.

Attractions of Stary Oskol

The city has more than a dozen Orthodox churches and chapels. Alexander Nevsky Cathedral (Tokareva Street, 4/1) is the main church of Stary Oskol. St. Trinity Church (Bolshevistskaya Street, 17/15), built in 1730, is the oldest church in the city.

The Zoo was opened in Stary Oskol in 2008. Bears, lions, tigers, monkeys, wolves, camels, ostriches, and other species of birds and animals live there.

Museum of Local Lore (Lenina Street, 50). The museums, founded in 1923, has exhibitions about the history of Stary Oskol. It is located in a building which is a monument of history and culture of the 19th century once owned by the merchants and brothers Likhutins.

The museum organizes tours of the city and the area including visits to an ancient Russian settlement of Kholki, an underground monastery in Melovy mountains, and a biosphere reserve “Yamskaya steppe”.

Art Museum (Lenina Street, 57). The collection of local masters of folk clay toys (O.M.Goncharova and N.M.Goncharova) is a real pearl of the museum. Stary Oskol folk clay toys production was known from the end of the 18th century.

House Museum of Vasily Yeroshenko (Yeroshenko Street, 15). Yeroshenko’s life is a living legend for blind people not only in Russia but also abroad. He encourages disabled people, supports them with his talent, helps them on their ways to improve techniques. Yeroshenko spoke 12 foreign languages and was the professor of universities in Tokyo and Beijing, he became a classic of Japan literature for children.

Stary Oskol city of Russia photos

Pictures of stary oskol.

Byl movie theater in Stary Oskol

Friendship Boulevard in Stary Oskol

The Monument to Soviet-Bulgarian friendship in Stary Oskol

Sights of Stary Oskol

The memorial complex Ataman Forest in Stary Oskol

Cannon monument in Stary Oskol

Church of the Nativity in Stary Oskol

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NECO Marketing Objective Question Sample June/July 2014. 1. A merchandiser is the individual who is responsible for the. A. security of goods in the retail store. B. quality control of goods produced. C. availability of products at the right position in the retail store.
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Neco marketing answers 2021/2022 By Godwin Emmanuel - July 2, 2022 | Categories: EducationTags: Academics. Share this post: Share; Tweet; ... MARKETING ESSAY (7ai) Market Environment is a term that is used to collectively identity all the elements that have some impact on the actual performance of a market. This includes events and factors that ...
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Or you can click here to refresh NECO Agric answers. NECO Agriculture Objective Answers (2020 Answers) 1-10: AEAAECDCCB. 11-20: DECECAABDD. 21-30: CCBAAAACCB . 31-40: EEBDABCCCC. 41-50: DCAEBDCEAB. 51-60: BBCCEDCADB. How to pass NECO Agric Science . You can actually score grade A1 in your agric science for NECO this year by following this guide.
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2022 Agric Essay Questions Loading 93.8%. 2022 Agric Essay Questions Loading 93.8% . Home; JOBS; SCHOLARSHIPS; Sign in. Welcome! Log into your account. your username. ... Npower News Today 2022 | Latest NASIMS News Update (August, 2022) Apply For Production Personnel at Homeyfun Foods Limited.
Belgorod Oblast
Belgorod Oblast is part of the Central Black Earth economic region and the Central Federal District.It borders with Luhansk, Kharkiv, and Sumy Oblasts of Ukraine in the south and west, Kursk Oblast in the north and northwest, and Voronezh Oblast in the east. The total length of its borders is about 1,150 kilometers (710 mi), of which 540 kilometers (340 mi) are on the border with Ukraine.
Stary Oskol Map
Stary Oskol is a city in Belgorod Oblast, Russia, located 618 kilometers south of Moscow. Population: 221,678 ; 221,085 ; 215,898 ; 173,917 . It is called Stary Oskol to distinguish it from Novy Oskol located 60 kilometres south. Both are on the Oskol River. Photo: Лобачев Владимир, CC BY-SA 3.0. Ukraine is facing shortages in ...
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You could close this page. Or you could join our community and help us produce more materials like this. We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war ...
Stary Oskol city, Russia travel guide
Stary Oskol - Overview. Stary Oskol is a city in Russia located in the Belgorod region, standing on the banks of the Oskol River, about 142 km northeast of Belgorod, 632 km south of Moscow.. The population of Stary Oskol is about 222,600 (2022), the area - 134 sq. km. The phone code - +7 4725, the postal codes - 309500-309518.

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2024 NECO MARKETING: Marketing (Market) NECO Authentic Questions and Answer 2024 (6116)

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