NECO GCE 2025 Marketing Answers

NECO GCE 2025 Marketing Answers

NECO GCE MARKETING OBJ
01-10: DEDAEDEABB
11-20: CBABBBEDCA
21-30: CEBCDCCBAA
31-40: DDECADEACE
41-50: BCAAAAEDBE
51-60: BCBEEABEDA

COMPLETED

NECO GCE MARKETING

NECO GCE MARKETING THEORY

NUMBER TWO

(2a)
(i) Convenience products are typically inexpensive and frequently purchased with minimal effort, whereas shopping products are more expensive and require more research and comparison before purchase.
(ii) Convenience products are widely available, while shopping products are usually found in fewer locations.

(2b)
(i) Shopping Products: Items for which the consumer compares several alternatives on criteria such as price, quality, or style (e.g., clothing).
(ii) Specialty Products: Items with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchasing effort (e.g., luxury cars).
(iii) Unsought Products: Items that the consumer does not know about or knows about but does not normally think of buying (e.g., life insurance).
(iv) Convenience Products: Items that the consumer purchases frequently, immediately, and with minimal effort (e.g., bread).

(2c)
(i) Materials and Parts: Raw materials, manufactured materials, and component parts that enter the manufacturer’s product completely (e.g., raw cotton).
(ii) Capital Items: Long-lasting goods that facilitate developing or managing the finished product (e.g., machinery).
(iii) Supplies and Services: Short-term goods and services that facilitate developing or managing the finished product (e.g., maintenance).
(iv) Raw Materials: Unprocessed products used in manufacturing (e.g., timber).

(3a)
(PICK ANY FOUR)
(i) Bill of Lading
(ii) Air Waybill
(iii) Consignment Note
(iv) Delivery Note
(v) Cargo Manifest
(vi) Insurance Certificate

(3b)
=Advantages=
(PICK ANY FOUR)
(i) Suitable for long-distance transportation
(ii) Carries heavy and bulky goods
(iii) Safe and reliable
(iv) Less affected by weather conditions
(v) Environmentally friendly
(vi) Cost effective

=Disadvantages=
(PICK ANY FOUR)
(i) High construction and maintenance cost
(ii) Lack of flexibility
(iii) Slow in operation
(iv) Limited rail network
(v) Delays and congestion
(vi) Requires additional transport for final delivery

(4a)
(i) Advertising: Advertising is a paid form of non-personal communication used to inform, persuade, and remind customers about a product, service, or idea through media such as radio, television, newspapers, billboards, social media, and the internet. It helps create awareness, stimulate demand, and build brand image.
(ii) Sales Promotion: Sales promotion involves short-term incentives and activities designed to encourage quick buying or increase sales. Examples include discounts, coupons, free samples, buy-one-get-one offers, contests, and bonus packs. These promotions help attract customers and boost sales within a short period.
(iii) Personal Selling: Personal selling is a face-to-face communication between a salesperson and potential buyers with the aim of persuading them to purchase a product. It is useful for expensive, technical, or customized products, and it allows immediate feedback and building customer relationships.
(iv) Public Relations (PR): Public relations involves building a positive public image and maintaining good relationships between a company and the public. PR activities include press releases, sponsorships, community events, donations, seminars, and handling negative publicity. It helps create goodwill and trust for the organization.

(4b)
Advertising is a paid, non-personal form of communication by an identified sponsor, designed to inform, persuade, and remind customers about goods, services, or ideas through various media channels. Its main aim is to influence consumer behavior and increase sales.

(7ai)
Exporting: Exporting is the process whereby a firm produces goods in its home country and sells them to buyers in other countries. It is the simplest and most common method of entering international markets because it requires low investment and minimal risk. Exporting can be direct (selling through foreign agents or distributors) or indirect (using export intermediaries). It allows companies to expand their market base and increase sales without establishing a physical presence abroad.

(7aii)
Joint Venturing: Joint venturing is an arrangement where a firm partners with a foreign company to share ownership, control, and profits of a new business entity. It enables companies to combine strengths such as technology, finance, market knowledge, and distribution networks. It is useful in markets where the host country requires local ownership or where firms want to reduce risk and investment cost. Examples include licensing, franchising, and forming strategic alliances.

(7aiii)
Direct Investment: Direct investment involves establishing or acquiring production or business facilities in a foreign country. This includes building factories, opening branches, or purchasing existing companies. It offers greater control over operations, improved market intimacy, and potential cost advantages such as cheaper labor and raw materials. However, it requires large capital and involves high risks like political instability and currency fluctuations.

(7b)
(PICK ANY FOUR)
(i) Market Expansion: International marketing allows businesses to access larger markets beyond their local customers, increasing sales and profitability.
(ii) Higher Profit Opportunities: Selling products internationally can lead to greater revenue due to higher demand, better pricing opportunities, and economies of scale.
(iii) Diversification of Risk: Operating in many countries reduces dependence on a single market and protects the business from local economic downturns or competition.
(iv) Utilization of Excess Production Capacity: When local demand is low, selling abroad helps firms use surplus production and reduce waste or storage costs.
(v) Access to Cheaper Raw Materials and Labour: International marketing can open opportunities to source cheaper inputs from other countries, reducing production costs.
(vi) Improved Competitive Advantage: Competing globally helps firms innovate, improve product quality, adopt better technology, and become stronger competitors.
(vii) Government Incentives: Many governments encourage export trade by offering tax benefits, subsidies, and grants, motivating businesses to participate in international marketing.

(8a)
Warehousing refers to the process of storing goods and materials in a designated building or facility until they are needed for production, distribution, or sale. It involves proper handling, protection, and management of goods to ensure they remain in good condition before being supplied to customers or retailers.

(8b)
(PICK ANY FOUR)
(i) Receiving of Goods: This involves accepting goods delivered to the warehouse, checking their quantity and quality, and ensuring they match the purchase order or delivery note.
(ii) Inspection and Verification: After receiving goods, warehouse staff inspect them to ensure they are not damaged and verify that the items received are correct in terms of type, quantity, and quality.
(iii) Storage of Goods: Goods are arranged and stored systematically in appropriate locations within the warehouse to ensure safety, security, and easy retrieval when needed.
(iv) Order Picking: This is the process of selecting and removing the required goods from storage based on customer or production orders. It ensures the right products are gathered accurately and timely.
(v) Packaging and Labeling: Some warehouses package or repackage goods and label them for identification, branding, and easy handling during transportation and distribution.
(vi) Dispatching and Shipping: This involves preparing goods for delivery, loading them onto vehicles, completing documentation, and ensuring they are transported to the correct destination.

(9a)
(PICK ANY FOUR)
(i) Core Benefit: This is the fundamental need or basic value a customer receives from the product. It represents the main reason why the product is purchased. For example, the core benefit of a phone is communication.
(ii) Actual Product: This is the visible and tangible form of the product that includes features such as design, packaging, brand name, style, and quality. It is what the customer can see, feel, and use physically.
(iii) Augmented Product: These are additional services and benefits that come with the product to enhance customer satisfaction. Examples include warranties, free installation, customer service, and after-sales support.
(iv) Branding: Branding involves the name, symbol, design, or identity that differentiates a product from competitors. It helps customers recognize and relate emotionally to a product and creates brand loyalty.
(v) Packaging: Packaging refers to the container or wrapper used to protect, promote, and identify the product. It plays an important marketing role by attracting customers and providing important information that aids decision-making.
(vi) Product Support Services: These are services that accompany the product to ensure effective performance and customer satisfaction, such as repair services, training, technical assistance, return policies, and user manuals.

(9b)
(i) Problem/Need Recognition
(ii) Information Search
(iii) Evaluation of Alternatives
(iv) Purchase Decision
(v) Post-Purchase Behaviour

(5a)
A facilitator is an independent individual or organization that assists in the marketing process by performing specialized functions, such as physical distribution, warehousing, and financing, without taking ownership of the goods.

(5b)
(i)Enabling Market Research: Facilitators help in conducting market research by assisting in data collection, analysis, and interpretation. They may organize focus groups, surveys, and interviews to gather insights into consumer behavior, market trends, and competitive landscapes. By providing data-driven insights, facilitators enable marketers to make informed decisions about product development, pricing, and promotion strategies.

(ii)Facilitating Communication: Facilitators play a crucial role in facilitating communication between different stakeholders in the marketing process. They ensure effective communication between marketing teams, advertising agencies, sales teams, and other departments. They also facilitate communication with external stakeholders, such as customers, partners, and suppliers. By fostering open communication channels, facilitators ensure that everyone is aligned with the marketing goals and strategies.

(iii)Coordinating Marketing Activities: Facilitators coordinate various marketing activities, such as advertising campaigns, promotional events, and product launches. They manage timelines, budgets, and resources to ensure that marketing initiatives are executed efficiently and effectively. They also work with different teams and departments to ensure that all marketing activities are integrated and aligned with the overall marketing strategy.

(iv)Mediating Conflicts and Issues: Facilitators act as mediators to resolve conflicts and issues that may arise during the marketing process. They facilitate discussions between stakeholders to find common ground and reach consensus on important decisions. They also help to address any challenges or obstacles that may hinder the progress of marketing initiatives. By mediating conflicts and issues, facilitators ensure that the marketing process runs smoothly and that marketing goals are achieved.

(6a)
A market union is an association or organization formed by individuals or businesses operating within a specific market (e.g., traders of a specific product) to protect their common interests, regulate market practices, and enhance cooperation among members.

(6b)
(i)Price Stabilization: Market unions work to stabilize prices by managing the supply of products. They can implement strategies like setting minimum prices, regulating production levels, and coordinating storage to prevent price fluctuations caused by oversupply or shortages. This helps protect producers from market volatility and ensures more predictable revenues.

(ii)Collective Bargaining: Market unions negotiate with buyers and processors on behalf of their members to secure better prices, terms of sale, and contracts. This collective bargaining power gives producers a stronger position than they would have individually, leading to improved profitability and fairer market practices.

(iii)Quality Control and Standardization: Unions often establish quality standards and grading systems for products. This ensures that the products meet certain criteria, enhancing their marketability and consumer confidence. Standardized products are also easier to trade and sell, both domestically and internationally.

(iv)Marketing and Promotion: Market unions engage in marketing and promotional activities to increase demand for their members’ products. This can include advertising campaigns, trade shows, branding initiatives, and efforts to build consumer awareness. By collectively promoting their products, unions can reach a wider audience and enhance their market presence.

(v)Market Research and Information: Unions conduct market research to understand consumer preferences, market trends, and competitive landscapes. They provide their members with valuable information on market conditions, pricing, and demand. This knowledge helps producers make informed decisions about production, marketing, and sales strategies.

(vi)Advocacy and Policy Influence: Market unions advocate for policies that support their members’ interests. They lobby governments and other organizations to create favorable market conditions, such as subsidies, trade agreements, and regulations that protect producers from unfair practices. This advocacy role helps create a more supportive environment for marketing primary and secondary products.

(6c)
(i)Employment generation: Providing jobs in agriculture, mining, and manufacturing sectors.
(ii)Foreign exchange earnings: Exporting these products generates foreign currency.
(iii)Food security: Primary products ensure the availability of food for the population.
(iv)Industrial raw materials: Primary products serve as inputs for secondary industries, fostering industrial growth.