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NECO 2024 Marketing OBJ/ESSAY answers are now available. If you are writing this subject, here is the 2024 NECO Marketing Questions June/July verified solution. The NECO Marketing Exam will commence on the 18th of 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 will assess students’ understanding of marketing concepts, principles, and their ability to apply this knowledge to solve problems. It includes both objective and essay questions, requiring a solid grasp of topics like marketing strategies, consumer behavior, market research, and product promotion.
We know how hard it is to understand marketing concepts. You do not need to worry as we are going to make everything easy for you, including the answers.
This is to inform the general public and all the students writing, especially those in the business and commerce fields, that the MARKETING EXPO answers are ready with us. We ensured that the answers are in line with the marking scheme.
NECO 2024 MARKETING OBJ/ESSAY QUESTIONS AND ANSWERS
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2024 NECO Marketing OBJ/ESSAY Answers
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MARKETING ESSAY 2024:
NUMBER 1
(1a)
Marketing environment refers to the external and internal factors that influence a company’s marketing operations and overall ability to build and maintain successful relationships with customers.
(1b)
(PICK ANY FOUR)
(i) Job Creation: Marketing activities create a wide range of job opportunities in various sectors such as advertising, sales, distribution, market research, and customer service. These jobs help reduce unemployment rates and improve living standards.
(ii) Economic Growth: Effective marketing strategies can stimulate demand for goods and services. Increased consumer demand leads to higher production levels, which contribute to the overall growth of the economy.
(iii) Innovation and Product Development: Marketing drives companies to innovate and develop new products that meet the evolving needs and preferences of consumers. This continuous innovation leads to a dynamic and competitive market environment.
(iv) Market Expansion: Marketing helps businesses expand their reach to new markets, both domestically and internationally. By identifying and targeting new customer segments, companies can increase their sales and revenue, contributing to economic diversification.
(v) Consumer Awareness and Education: Marketing educates consumers about the availability, features, and benefits of products and services. This awareness helps consumers make informed purchasing decisions, leading to higher satisfaction and better use of resources.
(vi) Improved Standard of Living: Through effective marketing, businesses can offer a wide variety of goods and services that cater to different consumer needs and preferences. Access to a diverse range of products improves the overall standard of living for the population.
(vii) Attraction of Foreign Investment: A vibrant marketing environment can attract foreign investors looking to enter the Nigerian market. Effective marketing showcases the potential of the Nigerian market, highlighting opportunities for investment and collaboration, which can lead to increased foreign direct investment (FDI) and economic development.
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NUMBER 2
(2a)
(i) Focus:- The selling concept focuses on the needs of the seller, aiming to convert products into cash through aggressive sales techniques. The marketing concept, on the other hand, focuses on the needs of the consumer, aiming to meet these needs through tailored products and services.
(ii) Approach: The selling concept employs a push approach, emphasizing promotion and sales to achieve profit. The marketing concept employs a pull approach, emphasizing understanding and satisfying customer needs to build long-term relationships and ensure repeat business.
(2b)
(i) Product: This refers to the goods or services offered by a business to meet the needs and wants of consumers. Product decisions involve aspects such as quality, design, features, branding, packaging, and customer service. The goal is to create a product that provides value to customers and stands out in the marketplace.
(ii) Price: Price is the amount of money consumers must pay to acquire the product. Pricing strategies can vary based on factors like cost of production, competition, target market, and perceived value. Effective pricing strategies can help a company maximize profits while remaining attractive to customers. It includes considerations such as discounts, payment terms, and financing options.
(iii) Place (Distribution): Place involves the channels and locations where the product is made available to consumers. This includes decisions about distribution channels, market coverage, inventory management, transportation, and logistics. The objective is to ensure that the product is accessible to the target market in the most efficient and convenient manner possible.
(iv) Promotion: Promotion encompasses all the activities used to communicate the product’s benefits and persuade customers to purchase it. This includes advertising, sales promotion, public relations, personal selling, and direct marketing. Effective promotion strategies aim to raise awareness, generate interest, and drive sales.
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NUMBER 3
(3)
(i) Government Market: The government market includes federal, state, and local agencies that purchase goods and services to fulfill public duties. Procurement processes are formal and regulated, requiring suppliers to adhere to strict guidelines and demonstrate their ability to meet specific needs and standards.
(ii) Institutional Market: The institutional market consists of organizations like schools, hospitals, and prisons that buy goods and services to support their operations. These institutions often operate on limited budgets and prioritize cost-effective solutions to serve large groups efficiently.
(iii) Reseller Market: The reseller market includes businesses such as wholesalers, distributors, and retailers that buy products to resell them at a profit. Resellers focus on optimizing inventory and supply chains to maximize profitability without significantly altering the products.
(iv) Product Development: Product development is the process of creating or enhancing products to meet consumer needs. It involves idea generation, design, prototyping, testing, and commercialization. Successful product development delivers value to customers and helps companies stay competitive.
(v) Raw Materials: Raw materials are unprocessed natural resources used in manufacturing. Examples include metals, minerals, timber, and agricultural products. The availability, cost, and quality of raw materials impact production costs and the final product’s price and quality.
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NUMBER 4
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2024 NECO MARKETING OBJ & ESSAY QUESTIONS:
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