NECO GCE 2025 MARKETING QUESTIONS
NECO GCE 2025 MARKETING QUESTIONS BELOW
NECO GCE 2025 MARKETING ANSWERS
MARKETING OBJ
01-10: DEDAEDEABB
11-20: EBABDBEDEA
21-30: CEBCDCCBAA
31-40: DBECADDACB
41-50: DCABAAEDBE
51-60: BBBEEBBBDA
COMPLETED
*NECO GCE MARKETING*
*NUMBER ONE*
(1ai)
Product: A product refers to anything that can be offered to a market for purchase, use, or consumption in order to satisfy a need or want. It may be a tangible physical item such as clothes or food, or an intangible service such as banking, education, or insurance. A product also includes features like quality, design, packaging, and brand name.
(1aii)
Need: A need is a state of felt deprivation that is essential for human survival and comfort. It represents basic requirements such as food, water, shelter, clothing, security, and social belonging. Needs are natural and must be satisfied for individuals to live and function. Marketing seeks to identify these needs and create products that fulfill them.
(1aiii)
Market: A market is a group of potential buyers who have the desire, ability, and willingness to purchase a product. It is also the environment where buyers and sellers interact to exchange goods and services. A market may be physical, such as a traditional marketplace, or virtual, such as online shopping platforms.
(1aiv)
Mass Marketing: Mass marketing is a marketing approach where a firm sells to a large, general audience with similar needs using a single marketing strategy. It focuses on high production volume, low cost per unit, and wide distribution. Examples include advertising through television, radio, and national newspapers to reach a broad audience.
(1b)
(i) Industrial Market: This is a market where businesses buy goods and services for use in production or manufacturing.
(ii) Reseller Market: This consists of wholesalers and retailers who buy finished goods and resell them for profit without changing their form.
(iii) Government Market: This includes local, state, and federal government agencies that buy goods and services for public use and development projects.
(iv) Institutional Market: This is made up of non-profit organizations such as schools, hospitals, and charities that buy goods to support their operations.
*NECO GCE MARKETING*
*NUMBER FOUR*
(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.
*NECO GCE MARKETING*
(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.
*NECO GCE MARKETING*
(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.
*NECO GCE MARKETING*
*NUMBER SEVEN*
(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.
*NECO GCE MARKETING*
*NUMBER NINE*
(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