WAEC Marketing Questions and Answers 2023

WAEC Marketing Exam

The WAEC Marketing Exam is an examination conducted by the West African Examinations Council (WAEC) for students studying marketing-related subjects in West African countries. This exam assesses the knowledge, understanding, and application of marketing principles and concepts.

The WAEC Marketing Exam covers various topics, including marketing strategies, market research, consumer behavior, product development, pricing, promotion, and distribution. Students are tested on their ability to analyze marketing situations, make informed decisions, and develop effective marketing plans.

The exam format may include multiple-choice questions, short answer questions, case studies, and essay questions. Students are required to demonstrate their understanding of marketing concepts, their ability to apply marketing principles to real-world scenarios, and their critical thinking and problem-solving skills.

Preparing for the WAEC Marketing Exam involves studying the marketing curriculum, reviewing textbooks and study materials, practicing past exam papers, and engaging in group discussions or study groups. It is important for students to have a strong foundation in marketing principles and to stay updated with current marketing trends and practices.

Successfully passing the WAEC Marketing Exam is an important milestone for students pursuing careers in marketing and related fields. The exam results provide a measure of their knowledge and competence in marketing, and the certificate awarded by WAEC is recognized by educational institutions and employers across West Africa.

WAEC Marketing Questions and Answers 2023

The WAEC Marketing exam for 2023 is a two-hour paper that consists of two sections: Objective and Essay. The exam format includes a variety of question types to assess students' understanding of marketing concepts, their ability to apply marketing principles to real-world scenarios, and their critical thinking and problem-solving skills. The objective section comprises 50 multiple-choice questions, while the essay section consists of two questions that require longer, written responses. Here are sample WAEC Marketing Questions and Answers for 2023:

Objective Section:

1. Which of the following is NOT a marketing concept?

• a) Production concept
• b) Selling concept
• c) Product concept
• d) Financial concept

Answer: d) Financial concept

2. What is the purpose of market segmentation?

• a) To divide the market into smaller groups based on demographics
• b) To target the entire market with a single marketing mix
• c) To differentiate products from competitors
• d) To reduce production costs
• Answer: a) To divide the market into smaller groups based on demographics

3. What is the role of pricing in marketing?

• a) To increase sales volume
• b) To maximize profit margins
• c) To communicate value to customers
• d) To control competition

Answer: c) To communicate value to customers

4.Which of the following is an example of a marketing intermediary?

• a) Retail store
• b) Manufacturer
• c) Consumer
• d) Government agency

Answer: a) Retail store

5.What does SWOT analysis stand for?

• a) Strengths, Weaknesses, Opportunities, Threats
• b) Sales, Warehousing, Operations, Training
• c) Strategy, Workflow, Organization, Technology
• d) Suppliers, Wholesalers, Outlets, Target market

Answer: a) Strengths, Weaknesses, Opportunities, Threats

Essay Section:

Question 1:

Explain the marketing mix and its elements. Provide examples to illustrate each element.

Answer:

• The marketing mix refers to the combination of elements that a company uses to promote its products or services. The four elements of the marketing mix, also known as the 4Ps, are:
• Product: This includes the physical product or service offered by the company. For example, a smartphone with advanced features and a sleek design.
• Price: This refers to the amount of money customers are willing to pay for the product or service. It involves setting the right price to attract customers while ensuring profitability. For instance, offering different pricing tiers for a software subscription.
• Promotion: This encompasses the activities used to communicate and promote the product or service to the target market. It includes advertising, public relations, sales promotions, and personal selling. For example, using social media ads and influencers to create awareness.
• Place: This refers to the distribution channels and locations where the product or service is made available to customers. It involves selecting the right distribution channels, such as online platforms or physical stores. For instance, partnering with retail stores and having an e-commerce website.

Question 2:

Discuss the importance of market research in marketing decision-making.

Answer:

• Market research plays a crucial role in marketing decision-making as it provides valuable insights into the target market, customers, and competitors. Here are some reasons why market research is important:
• Understanding customer needs: Market research helps companies identify and understand customer needs, preferences, and behaviors. This knowledge enables companies to develop products and services that meet customer expectations and create a competitive advantage.
• Identifying market opportunities: Market research helps companies identify untapped market segments, emerging trends, and potential opportunities. By analyzing market data, companies can develop new products or adapt their marketing strategies to capitalize on these opportunities.
• Evaluating marketing effectiveness: Market research allows companies to measure the effectiveness of their marketing campaigns and strategies. It provides feedback on customer satisfaction, brand perception, and the impact of marketing efforts, enabling companies to make data-driven decisions and optimize their marketing activities.
• Monitoring competition: Market research helps companies stay updated on their competitors' activities, including their product offerings, pricing strategies, and marketing tactics. This information allows companies to adjust their strategies and stay competitive in the market.

WAEC Marketing Past Questions and Answers

1.The performance of business activities that direct the flow of goods and services from producer to consumer is

• A. advertising.
• B. marketing.
• C. distribution.
• D. promotion.

2.Goods produced for immediate consumption by a household is classified as

• A. durable goods.
• B. market goods.
• C. industrial goods.
• D. consumer goods.

3.One of the following is not a component of marketing mix.

• A. Price
• B. Product
• C. Profit
• D. Promotion

4.One of the following is not influenced by consumer behavior.

• A. Life style
• B. Culture
• C. Religion
• D. Distribution

5. 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.

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

• A) MAN
• B) NPF
• C) SON
• D) NAFDAC

7. The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the

• A) Nigeria Investment Promotion Commission
• B) Securities and Exchange Commission
• C) National Council on Privatization
• D) Bureau of Public Enterprises

8. The principle of indemnity is NOT applicable to

• A) Marine insurance
• B) Accident insurance
• C) Fire insurance
• D) Life assurance

9. The advertising medium which combines sight and sound is the

• A) Print media
• B) Television
• C) Radio
• D) posters

10.The selling of goods in small units is normally performed by

• A, brokers,
• B, wholesalers,
• C, retailer’s.
• D. distributors,

Continue Marketing Objective WAEC Questions

11. A storage facility that uses an advanced material handling system under the control of a central computer is

• A. a public warehouse,
• B. an automated warehouse.
• C. a distribution warehouse.
• D, a storage warehouse,

12. The way in which a product is delivered to meet the customers’ need is

• A. new product concepts,
• B. selling concepts.
• C. advertising activities.
• D, distribution activities.

13. The process of encouraging consumers to buy products at retail outlets is

• A. advertising.
• B. publicity.
• C. merchandising.
• D. distribution,

14. Another term for marketing is

• A. direct marketing.
• B. internet marketing,
• C. electronic banking.
• D. electronic purchasing,

15. A document that accompanies goods in transit is a

• A.manifest.
• B, waybill.
• C, bill of sight.
• D. credit note,

16. Marketing concept means

• A. buying and selling to customers,
• B. selling and distribution to customers.
• C. satisfying customers’ needs and wants.
• D. advertising and promotion to customers

17. Meeting customer expectation regarding the quality a product is

• A. customer satisfaction.
• B. customer excellent.
• C. customer loyalty,
• D. customer value.

18. Which of the following channels of distribution will be used by a company that wants to have control over its price?

• A. Manufacturer — Consumer
• B. Manufacturer — Agent — Consumer
• C. Manufacturer — Wholesaler — Retailer—Consumer
• D. Manufacturer —Agent —Retailer -—* Consumer

19. Which of the following is not an element of the marketing mix?

• A. Place
• B. Packaging
• C. Price
• D. Product

20. Competitive price in marketing is arrived at by

• A. considering competitive demand for the product.
• B. adding a mark-up to the cost price.
• C. setting price in relation to competitors’ price.
• D. adding a margin to the best price.

1.(a) State five importance of middlemen in marketing.
(b)Explain five factors that can determine the type of channels of distribution to be used by a company.

2.(a) What is a warehouse?
(b) Describe any three types of warehousing.
(c) State six functions of a warehouse

3.(a) Explain the following:
(i) consular invoice
(ii) waybill

(b) Explain seven factors that will influence the place Tochukwu will locate his grocery business.

4.(a) Explain five stages in marketing planning
(b) State five uses of feedback in marketing research.

5.(a) What is merchandising?
(b) Mention four merchandising activities.
(c) State seven functions of merchandising.

WAEC Marketing Questions Objective and Theory

Objectives

1. Which of the following is not an element of the marketing mix?

• A. Product
• B. Price
• C. Promotion
• D. Place

2. Which of the following is a type of marketing research?

• A. Primary research
• B. Secondary research
• C. Both primary and secondary research
• D. None of the above

3. Which of the following is a function of marketing?

• A. Creating value
• B. Communicating value
• C. Delivering value
• D. All of the above

4. Marketing is defined as

• A. buying and selling to customers.
• B. selling and distribution to customers.
• C. meeting customers need profitably.
• D. Advertising and promotion to customers

5. A product by an organization for use in Carrying out a business is

• A. an industrial product.
• B. a specialty product.
• C. a consumer product.
• D. a convenience product.

Essay

1. Discuss the importance of marketing in a business.
2. Explain the four Ps of marketing.
3. Describe the different types of marketing research.
4. Discuss the different functions of marketing.

WAEC 

The West African Examinations Council (WAEC) is an officially recognized examination board that is responsible for organizing and conducting examinations in English-speaking countries in West Africa. Its main objective is to administer exams and issue certificates that are internationally recognized and comparable to those offered by other examination bodies worldwide.

Since its establishment in 1952, WAEC has played a crucial role in the education systems of Anglophone West African countries, including Ghana, Nigeria, Sierra Leone, Liberia, and the Gambia. The council has overseen numerous examinations and granted certificates, contributing to the progress of education in the region.

In addition to its examination duties, WAEC has established an endowment fund to support education through lectures and aid for financially disadvantaged individuals. Over the years, WAEC has grown to become one of the largest and most respected examination bodies in West Africa, attracting millions of candidates annually.

Furthermore, the council collaborates with local and international examination bodies to ensure the smooth coordination of exams. Dr. Adeyegbe, the former Head of National Office of WAEC Nigeria in 2004, emphasized the council's well-trained and highly motivated staff and its commitment to conducting examinations that align with the educational objectives of member countries.

Brain Teaser: Find the Odd One in 10 Seconds

How to Hide Your Location on Snapchat? How to Turn Off Your Snapchat Location?

Optical Illusion: Can You Try to Find the Hidden Number in 10 Seconds?

• Next Article ››

How to get the Disc in Animal Well? Animal Well Path of the Dog

145 days ago

Who is Noa in Kingdom of the Planet of the Apes?

145 days ago

Who Made the Top 9 on The Voice Tonight? Get the Full List

145 days ago

Will Blue Bloods Be Renewed? Why is Blue Bloods Cancelled?

145 days ago

Why is Steve Leaving Slacker and Steve? What happened to Slacker and Steve?

146 days ago