OUR NECO/NABTEB SUBSCRIPTION IS CURRENTLY ONGOING….
->NABTEB; RECEIVE QUESTIONS & ANSWERS A WEEK BEFORE EXAM
->NECO; RECEIVE QUESTIONS & ANSWERS A DAY BEFORE EXAM DAY.
100% GUARANTEE..IT’S OUR CULTURE, NO DOUBT
===================================
MARKETING OBJ
01-10: CADDCCCCBB
11-20: ACBBBCDCDA
21-30: BDCADDBACB
31-40: CCADBBBCAD
COMPLETED
===================================
(1a)
(i) Needs: Basic requirements that customers must fulfill to survive or maintain a certain standard of living. Examples: food, water, shelter, clothing. Needs are essential and universal, and customers are often willing to pay for products or services that meet these basic requirements.
(ii) Wants: Desires that customers seek to satisfy their personal preferences or tastes. Examples: luxury cars, designer clothing, exotic vacations. Wants are discretionary and often influenced by cultural, social, and personal factors. Customers may prioritize wants over needs, depending on their individual circumstances.
(1b)
(i) Product Development: Creating and improving products or services to meet customer needs.
(ii) Promotion: Communicating the value of products or services to potential customers.
(iii) Pricing: Determining the optimal price for products or services based on value, costs, and market conditions.
(iv) Distribution: Managing the flow of products or services from production to delivery to customers.
(1c)
(i) Segmentation: Dividing a market into distinct groups based on demographics (age, gender, income), needs (basic or premium), behaviors (loyal or price-sensitive), or other factors. Segmentation helps companies focus on the most profitable or promising segments.
(ii) Targeting: Selecting specific segments to focus marketing efforts on, based on their potential and fit with the company’s offerings. Targeting involves evaluating segment size, growth potential, and competitive intensity.
(iii) Positioning: Creating a unique image or identity for a product or service in the minds of target customers, relative to competitors. Positioning involves differentiating the brand through features, benefits, quality, or values.
(iv) Value Proposition: The unique benefits, value, or solutions that a company offers to customers, differentiating it from competitors. A strong value proposition answers the customer’s question, “Why should I choose your product or service over others?”
===================================
(2a)
Consumer products are goods and services purchased and used by individuals or households for personal or domestic purposes, such as food, clothing, electronics, furniture, and toiletries.
(2b)
(i) Land Transportation (Trucking)
(ii) Air Transportation (Air Freight)
(iii) Water Transportation (Ocean Freight)
=EXPLANATIONS=
(i) Land Transportation (Trucking): This mode involves moving goods by truck or rail over land. It’s commonly used for domestic transportation and offers flexibility and cost-effectiveness.
(ii) Air Transportation (Air Freight): This mode involves moving goods by airplane, providing fast and reliable transportation over long distances. It’s ideal for time-sensitive or high-value shipments.
(iii) Water Transportation (Ocean Freight): This mode involves moving goods by ship or boat over water, often used for international trade and bulk cargo. It’s a cost-effective option for large volumes.
(2c)
(i) Capital Goods
(ii) Raw Materials
(iii) Maintenance, Repair, and Operating (MRO) Products
=EXPLANATIONS=
(i) Capital Goods: These are long-lasting, high-value products used in production or operations, such as machinery, equipment, and vehicles. Examples include factory equipment, construction machinery, and company cars.
(ii) Raw Materials: These are unprocessed goods used as inputs for manufacturing or production, such as lumber, metals, and chemicals. Examples include steel, cotton, and oil.
(iii) Maintenance, Repair, and Operating (MRO) Products: These are goods used to support and maintain operations, such as janitorial supplies, cleaning equipment, and replacement parts. Examples include light bulbs, cleaning chemicals, and air filters.
===================================
(3a)
(i) Discounts and Price-Offs
(ii) Coupons
(iii) Rebates
(iv) Loyalty Programs
(v) Trade Shows and Events
(vi) Digital marketing
(vii) Sales promotion
(viii) One Get One Free (BOGO)
(3b)
(i) Promotions can create urgency and encourage immediate purchases, boosting sales volume in the short term.
(ii) Attracting new customers who may not have considered the product otherwise, expanding the customer base.
(iii) Helping to clear out excess or outdated inventory, making way for new products.
(iv) Promotional activities can increase visibility and awareness of the brand and its products in the market.
(v) Programs like loyalty rewards encourage repeat purchases and foster long-term customer relationships.
(vi) Effective promotions can differentiate a company from its competitors, making its products more attractive to consumers.
===================================
(4a)
(i) The association would negotiate with buyers to secure better prices for their yams.
(ii) The association would promote the members’ yams through advertising, branding, and other marketing efforts.
(iii) The association would provide training and capacity-building programs for members to improve their farming and business skills.
(iv) The association would advocate for policies and regulations that benefit the yam sellers and protect their interests.
(4b)
(i) Market Information Providers
(ii) Logistics and Transportation Services
(iii) Financial Services Providers
(iv) Technology and Innovation Providers
=EXPLANATIONS=
(i) Market Information Providers: These facilitators would provide market data, trends, and insights to help members make informed decisions about pricing, production, and marketing.
(ii) Logistics and Transportation Services: These facilitators would assist members with transportation, storage, and delivery of their yams to markets, reducing costs and increasing efficiency.
(iii) Financial Services Providers: These facilitators would offer financial assistance, such as loans, insurance, and payment systems, to help members manage their finances and invest in their businesses.
(iv) Technology and Innovation Providers: These facilitators would introduce new technologies and innovations, such as e-marketplaces, digital payment systems, and farm management tools, to enhance members’ productivity and competitiveness.
===================================
(5a)
(i) Personal Savings: Adamu can use his own money, such as savings or emergency funds, to finance the business.
(ii) Bank Loans: Adamu can apply for loans from commercial banks, which offer various loan options, such as term loans or lines of credit.
(iii) Investors: Adamu can seek funding from investors, such as angel investors, venture capitalists, or private equity firms, in exchange for equity or returns.
(iv) Government Programs: Adamu can explore government-backed loans, grants, or subsidies, which support small business development and entrepreneurship.
(5b)
(i) Proximity to Suppliers: Adamu should consider locations close to detergent manufacturers or distributors to reduce transportation costs and ensure timely deliveries.
(ii) Accessibility and Visibility: Adamu should choose a location with high foot traffic, good road connectivity, and visibility to attract customers and enhance business visibility.
(iii) Competition: Adamu should assess the competitive landscape and avoid locations with existing detergent retailers or wholesalers, unless he has a unique value proposition.
(iv) Demographics and Market Demand: Adamu should consider locations with a high demand for detergents, favorable consumer behavior, and a growing population to ensure business growth and success.
===================================
COMPLETED….We Remain Your Favourite Site.
Ensure You Subscribe For Your Next Paper
===================================
Leave a Reply