WAEC Marketing Questions and Answers. I will be showing you WAEC Marketing objective and theory repeated questions for free. You will also understand how WAEC Marketing questions are set and many more examination details.
The West African Examination Council is an examination body that set questions yearly from areas student should, after their studies in the senior secondary school, be able to write and pass without stress.
WAEC 2021/2022 Marketing Answers to Questions
Below is WAEC Marketing Questions and Answers 2021/2022 to OBJ/ESSAY
WAEC Marketing Answers 2021 Loading….
- The performance of business activities that direct the flow of goods and services from producer to consumer is
Goods produced for immediate use by a household is classified as
A. industrial goods.
B. market goods.
C. durable goods.
D. consumer goods.
Which of the following is not a component of marketing mix?
Which of the following is not influenced by consumer behavior?
A. Life style
In Nigeria, the body that ensures that its members operate according to their professional ethics is the
- The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the
A National Council on Privatization
B Securities and Exchange Commission
C Nigeria Investment Promotion Commission
D Bureau of Public Enterprises
- The principle of indemnity is NOT applicable to
A. Life assurance
B. Accident insurance
C. Fire insurance
D. Marine insurance
- The advertising medium which combines sight and sound is the
C. Print media
- The closure of the unregistered patent medicine stores is geared towards sound
A. economic environment
B. social environment
C. physical environment
D. legal environment
1O. The recommendation made by the Central Bank to the commercial banks in respect of their lending policy is known as
B. moral suasions
C. advisory notes
- Waybill is a document driving details of goods sent by
A. public vehicle, train and air
B. train ad ship
C. ship alone
D. air alone
- An association of the principal business concerns in an area is referred to as
A. Article of association
B. Memorandum of Association
C. Chambers of Commerce
D. Chambers of Companies
- Commission salesman include the following except
C. Del credere agents
- Into which of the following two broad areas can trade be divided
A. home and foreign trade
B. wholesale and retail trade
C. imports and exports
D. visible and invisible trade
- Which of the following is not true of sole proprietorship?
A. It has a separate legal entity
B. It has unlimited liability
C. It has slim chances of expansion
D. It can convert into a company
- Commerce means
A. The creation of utility
B. Exchange of goods and services
C. Exchange and distribution of goods and services
D. Exchange and distribution of goods
- The most common means of transport in the riverine area is
- Which of the following cheques could not be cashed across the counter?
A. Crossed cheque
B. Order cheque
C. Certified cheque
D. Bearer cheque
- In marketing, any good or service that satisfies the consumer is called a
2O. Which of the following is a non-consumable item in the office?
B. Loose sheets
C. Office pins
D. File tags
- One of the obstacles to achieving one objective of ECOWAS is
A. Lack of common currency
B. Colonial linkages
C. Sovereignty of states
D. Language differences
- One of the main objectives of establishing the Niger River Basin Commission was to
A. Embark on a comprehensive survey of the available water resources
B. Carry out research for the development of fresh water fisheries
C. Develop infrastructures to facilitate economic activities
D. Promote trade among member-states to improve standards of living
- The basic function of the Nigerian Port Authority is to
A. Ensure that the right caliber of personnel is employed at the ports
B. Coordinates and regulate the activities of shipping lines
C. Facilitate and control the movement of goods arid services into and out of the country
D. Coordinate the activities of all the seaports in the country
- The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called
- Goods imported to a country for the purpose of re-exporting attracts a rebate known as
A) customers drawback
B) export royalty
D) export rebate
- The nominal value of a share as specified in the memorandum of association and the share certified is the
A. discounted value
B. stock value
C. face value
D. par value
- “Caveat emptor” as a commercial legal word means
A. Let the seller beware
B. Let the producer beware
C. Let the buyer be awarded
D. Let the buyer beware
- The main feature of a supermarket is the sale of
A. Office equipment only
B. Food stuff only
C. General household goods
D. Building materials
- The ship that is used as a sea taxi is called
- Which of the following is not a reward for labour
- The person who calculates premium, sums assured and surrenders value in insurance contract is called
32.In the contract of sale of goods, let the buyer beware’ is signified by
A. del credence
B. caveat vendetta
C. caveat emptor
D. res ipsaloquitor
- The main purpose of establishing a public corporation is to
A. provide employment
B. provide essential services
C. make profit
D. establish monopoly
- Factorizing is a trade debt term used when the agent buys all the trade debts of the
- Stevedores as a term in foreign trade means men who
A. inspect goods in ships
B. import goods by ships
C. collect duties
D. load and unload ships
- A close indent is an instruction to an agent to
A. Order goods from a particular manufacturer
B. Order goods from any manufacturer
C. Sell goods in any form
D. Sell goods to a certain firm
- Profit expressed as a percentage of the goods sold is referred to as
B. Mark up
C. Gain percentage
D. Gross profit
- The main advantage of a sole trader is its freedom to
A. Employ anyone he likes
B. Seek advice from any source
C. Take quick decisions
D. Plough all the profits back into the business
- In the case of voluntary liquidation of a business is (lie receiver is appointed by
- When a company was more of loans than equity to finance its business, the company is said to be
C. High geared
D. In a strong liquid position
- Rights issue means the
A. Issue of shares to the directors of a company on favourable firms
B. Issue of shares of a company only to the founder of the company
C. Rights of shareholder to vote on any issue
D. Issue of shares to shareholders on favourable terms
- A term which indicates that a share is temporary suspended is
- Excise duties are paid on goods that are
A. imported into the country
B. manufactured within the country
C. exported to other countries
D. kept in bonded warehouses
- The business in the stock exchange is characterized essentially by
- The insurance policy which provides full cover against all risks at seas is known as:
A. policy with particular average
B. policy free of particular average
C. marine freight insurance
D. marine voyage policy insurance
- A major liability of a commercial bank arises form
A. customers deposit
B. loans and advances
D. staff allowances
- In the channel of distribution, which of the following sets is entirely made up of middle men?
A. Wholesales, retailers and agents
B. Manufacturers, consumers and retailers
C. Wholesales, agents and consumers
D. Retailers, manufacturers and wholesales
- Most foreign trade transactions are paid through the use of
A. Central Bank cheques
B. Bank drafts drawn by commercial banks on their foreign branches
C. Irrevocable and confirmed letters of credits
D. Letters of credit authenticated by the embassies of the respective countries
- The merger of two companies producing same type of produce is an example of
A. Vertical integration
B. Horizontal integration
C. Internal merger
D. An acquisition
Opening stock: ₦40,000.00
Closing stock: ₦60,000.00
- Which is the cost of goods sold?
- The business organization in which shareholders have equal votes is
A. Sole proprietorship
D. Limited liability company
- One type of investment that has a variable income is
B. Preferred shares
C. Government bonds
D. Ordinary shares
- A public limited company can raise long term loans through
A. The capital market
B. The money market
C. Bank overdraft
D. Discount houses
- The selling of article from place to place on foot is
B. Itinerant trading
D. Self service
- Which of the following is the safest way of sending important document s through the post?
A. Registered mail
B. Parcel post
C. Letter post
- Which of the following is an advertising function?
- Unlimited liability in business implies that the
A. Risk of the owner is limited only to the amount invested
B. Debts are paid with subventions
C. Property of the owners should not’ be used to secure loans
D. Owners private property can be used to settle business debt
- The practice of selling a product below the cost price to attract customers to a shop is known as
B. loss leader
- The business environment that takes into cognizance the age distribution, ethnic mix and educational level of the consumer is
A. Demographic environment
B. Economic environment
C. Cultural environment
D. Natural environment
- An announcement of a person’s willingness to enter into a contract is referred to as
A. A proxy
B. An offer
C. A consideration
D. An acceptance
More WAEC questions and answers on Marketing
- A major function of an entrepreneur is
B. Encouraging competition
C. Human-resource training
D. Motivating employees
- Which of these is a form of sales promotion?
A. Advertising on radio
B. Offering free samples
C. Distributing printed materials
D. Advertising on radio
3.Which of the following has the shortest effect on the consumer
- What is the lifespan of a cheque which is drawn but not presented immediately for payment?
B. 2 months
C. 6 months
D. 12 months
- Which of the following is not a function of money?
A. a medium of exchange
B. serves as a store of value
C. easily recongnisable
D. makes deferred payment possible
- Who among the following does not function in the stock exchange market?
- Which of the following does not influence the choice of a means of transport?
B. value of goods
D. Brand of vehicle
- Which of the following types of cheque protect the holder against risk of loss
A. Open cheque
B. Bearer cheque
C. Post-dated cheque
D. Crossed cheque
- Establishing and maintaining mutual understanding between an organization and its customers is known as
A. Marketing concept
C. Public relations
D. Sales promotion
- Which of the following is sent by a supplier who does not want to sell on credit?
A. Proforma invoice
C. Consular invoice
D. Advice note
- Which of the following features is common to all retailers?
A. Operating as sole proprietors
B. Selling to the final consumers
C. Operating with small capital
D. Selling on hire purchase to consumers
- Which of the following are exclusively functions of marketing?
A. Buying, pricing, selling and promotion
B. Risk-bearing, storage, production and transporting
C. Organizing, risk-bearing, transporting and storage
D. Production, promotion, distribution and recruiting
- Which of the following describes the reason for international trade?
A. Balance of payment
B. Comparative cost advantage
C. Absolute cost advantage
D. Balance of trade
- Which of the following implies that the price quoted includes the cost of insurance and carriage?
- Which of the following has no limit to its membership?
A) Ordinary partnership
B) Private L imited Company
C) Limited Partnership
D) Co-operative Society
- Which of the following does not lead to the dissolution of a partnership?
A) absence of a deed of partnership
B) withdrawal of a partner
C) incapacity of any of the partners
D) completion of contractual term
- Which of the following are features of a limited liability company?
i. Separate legal entity
ii. Right to sue but not be sued
iii. Has its own corporate name
iv. the inability of members is limited
A) I, II and III
B) II, III and IV
C) I, II and IV
D) I, III and IV
- When shares are sold “EX-D1V”, it means that
A) No dividend is paid on the shares
B) The buyer receives the dividend
C) The seller receives the dividend
D) The stock exchange receives the dividend
- A retail outlet meant to sell only a particular manufacturer’s product is known as a
A) Co-operative Shop
B) Chain store
C) Department store
D) Tied shop
- An unfavorable balance of trade for a country means that her
A) Exports exceed import
B) Visible imports exceed visible exports
C) Invisible export exceeds visible imports
D) Import & exports are equal
WAEC Marketing Essay and Objective 2021 (EXPO)
The above questions are not exactly 2021 WAEC Marketing questions and answers but likely WAEC Marketing repeated questions and answers and WAEC Marketing past questions.
These questions are for practice. The 2021 WAEC Marketing expo will be posted on this page today during the WAEC Marketing examination. Keep checking and refreshing/reloading this page for the answers.
WAEC Marketing Questions and Answers 2021 Loading…
Today’s WAEC Marketing Answers (2020 Answers)
(i) It provides an edge for the company’s product in the competitive market
(iii) It boosts the business image of the company and strengthen the quality of its brand
(iv) It stimulates the company’s sales thereby increasing profit
(i) Nature of the product
(ii) Cost of the service
(iii) Speed of Transport
(iv) Safety and security of the products
(i) To identify the problem areas in the company.
(ii) To understand the needs of existing customers and why they choose the services of the company over competitors.
(iii) To identify new business opportunities and changing market trends.
(iv) To recognize new areas for expansion, and increase customer base.
(v) To develop new, effective strategies by understanding the market based on market research results
(i) Define the Problem or Opportunity
(ii) Develop The Marketing Research Plan.
(iii) Collect Relevant Data and Information.
(iv) Analyze Data and Report Findings
(v) Put The Research Results into Action
(i) Name of product
(ii) Expiry date
(v) Manufacturer’s contact details
(vi) Direction/Instruction for usage
(i) It gets consumer attention quickly
(ii) It helps for brand recognition
(iii) It creates a unique identity of the product
(i) It reaches a wide audience
(ii) It grabs attention by combining sight and sound
(iii) It allow advertisers to create a long lasting and memorable brand and corporate image
(iv) It generate emotional responses from the viewer thereby increasing viewer trust for the product
(i) Organizational buying behaviour involves purchasing goods and services to produce another good with the intention of reselling it while Consumer buying behaviour is where the final consumer buys goods and services for the personal consumption
(ii) In organizational buying behaviour, decisions are frequently made by several people while decisions are usually made by individuals in consumer buying behaviour
(iii) In Organizational buying behaviour, it may engage in lengthy decision process while in Consumer buying behaviour, Individual may make quick decision in purchasing
(iv) In Organizational buying behaviour, the buying is done in large quantity while in Consumer buying behaviour, individuals buys only the necessary quantity of goods which is usually small.
(i) Technological factors
(iii) Organizational structure
(i) Technological factors: Technological factors also affect organizational behavior. This includes level of technology, pace of technology, technology transfer etc. E-commerce as well as information technology has got revolutionary change. It has directly affected organizational buying behavior.
(ii) Policies: Purchasing or buying policy also effects organizational buying behavior. Goods should be purchased according to buying policy of the organization. If the organization has the policy of buying indigenous goods, the buyer cannot buy foreign goods. If the purchasing policy is silent in this matter, whichever goods, foreign or indigenous, can be purchased as desired
(iii) Organizational structure: Organizational structure defines authority and relations which directly affects buying behavior. In some organizations, goods or services are purchased by direct order of chief executive while in some other organizations, goods or services are bought through purchase department. So, buying behavior is affected by organizational structure.
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MARKETING OBJECTIVES (OBJ) ANSWERS Loading
Areas of Concentration on WAEC Marketing
- Introduction to Marketing
(b) Explanation of basic terms in marketing: needs, wants, demands,
product, exchange, transactions, and markets,
(c) Brief history of marketing in Nigeria;
(d) Functions of marketing.
- Marketing Concepts
(b) Various marketing concepts (production, product, selling, marketing and societal marketing).
- Marketing Mix and Marketing Environment
(c)i Explain Marketing Environment
(c)ii Factors affecting marketing environment:
(b) Classification (Industrial goods, consumer goods,
services, primary and secondary products and mineral products-oil and non oil;
(c) Distinctions between classes of products.
(d) Product Design*
– Organization (industrial, reseller and government)
- Consumer and Organizational Behaviour
(b) Influencing factors;
(c) Decision process in logical order
- Marketing Planning and Research
(a)i Meaning, process and importance;
ii Elements of marketing planning;
iii Information required for marketing planning
(b) Reasons for marketing planning and research.
(c) Utilization of feedback
(b) i Strategies (haggling, cost-plus, demand and
ii Application of strategies*
(c) Price determinants.
(c) Media – meaning, types, advantages and disadvantages.
(d) Production of sample adverts*
- Sales Promotion
(a) Meaning and Functions;
(b) Forms – price-off, coupons, salesmen competition,
loyalty schemes, premium offers, trade-in-allowance,
sampling, training schemes, and merchandising incentives.
(b) Elements (packaging, branding and labeling)
(C) Influencing factors;
(b) Channels of distribution (definition and types)
(c) Factors influencing choice of distribution channels
(d) Functions of channel members.
(a) Meaning, mode, choice and importance
(b) Documents used in transportation;
(c) Factors affecting choice of transportation
(a) Meaning, types and functions.
(b) Activities in the warehouse
- Market Unions and Facilitators
(a) Market Unions (Meaning and types)
(b) Roles of Market Unions in local markets;
(c) Market Facilitators – meaning, types and roles.
- International Marketing
(a) Meaning, importance/reasons and methods of engaging in international marketing,
(b) Influencing factors;
(c) Guiding rules and regulations;
- ICT in Marketing
(a) E-Marketing (electronic marketing) – meaning, ,importance, uses,ethics and abuses.
- Entrepreneurship in Marketing
(a) Meaning of entrepreneurship and entrepreneur;
(b) Sources of funds;
(c) Factors affecting location of a market outlet;
(d) Management of market outlets – purchase and supply of goods and services;
(e) Selling and bargaining skills
Follow strictly the instruction on the Marketing exam paper
Many candidates overlook the instructions given in the exams hall. They think the instructions are not important. this is not good, adhere to the instructions and you will come out the best in your WAEC marketing exams.
How to Pass WAEC Marketing Examination
1. Have a Positive Mindset:
It is obvious that until your mindset is positive, your life will not be positive. As you prepare for WAEC, you must develop a positive mindset towards your fate.
Don’t say, “WAEC is very hard I don’t know whether I will pass” and don’t believe anyone that says you cannot pass WAEC 2021 on your own.
Have the mentality, “If others passed WAEC 2021 in the past, then I will be like them. Refuse to be identified with failure or those that failed in the past.
Even if this year’s WAEC Exam is not your first time, it doesn’t mean that you cannot pass WAEC 2021 marketing this time around.
Sit for marketing 2021/2022 with a refined mindset. Nothing will make you fail WAEC 2021. Until your mindset is positive, your life will not be positive.
2. Avoid Bad Companies
If you are really serious about passing WAEC 2021 Marketing, try and avoid bad companies. They will discourage and engage you in activities that will not enhance your success. Remember that their mindset may not correspond to yours.
3. Set Good Target and Plans:
If you have made up your mind to pass WAEC Marketing 2021, the next thing you should do is set targets. Write down the type of grades you want in WAEC 2021. If you want all As, zero Fs and Zero Es then you should start planning it now.
Make sure you create a timetable and master plan to achieve your set goals. Remember, it takes nothing to dream but it takes everything to focus on your dream.
4. Get WAEC Marketing Recommended Textbooks 2021 :
One of your plans should be getting the WAEC 2021 marketing recommended textbooks. Normally, the West African Examination Council recommends books for the examination.
But apart from WAEC 2021 literature in English where certain novels are compulsory, you are free to use any good textbook to prepare for WAEC 2021 marketing exam.
Some topics are more difficult to understand. If you have any topic you are finding difficult to understand, then get another textbook that will make things simple for you.
5. Get WAEC Marketing Past Question:
This is a very good plan. Since WAEC 2020 and WAEC 2021 are of the same standard, you could use the same past questions to study for both.
If you are confused about how to get waec past questions. They are sold in good bookshops around. It is possible that the school where you registered could offer to give you some current past questions that will help you in WAEC 2021.
6. Start Preparing for WAEC Marketing 2021 :
Stop wasting your time. Now that you have gotten textbooks and past questions, the next thing is to begin your reading. Early reading and practice are good for you; you will pass well on WAEC 2021.
7. Avoid Skipping Examples and Exercises:
It is very unfortunate that Secondary school students are fond of skipping exercises and even examples while studying textbooks.
They loved notebooks so much that they could ask, “can I read my Marketing, Mathematics, etc notebooks and pass WAEC 2021?”
Don’t be scared of attempting exercises; they are there to help you. Face it and overcome it!
8. Test Yourself on WAEC Marketing Questions and Answers
This is a good practice. Once in awhile, answer full one year Marketing past questions on your own without checking the answers. Then mark to see your score. This will help you in many aspects.
9. Do Constant Practice:
Don’t get discouraged when certain topics are annoying, keep on practicing until you master everything. Never give up and never say never. Keep on keeping on….
10. Create Time for Recreation
Create time for yourself where you play and ease off stresses. Do not overwork yourself; it can make you waste time unnecessarily. One you work more than necessary, you are not gaining anything.
If you have any questions about WAEC 2021 Marketing Questions and Answers, kindly let us know in the comment box.