All 40 questions from the National Examinations Council (NECO) Marketing 2024 Objective paper, with the correct answer and a full explanation for each. Free, no signup needed.
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The process of identifying needs, delivering and exchanging products that have value for customers is
Marketing is the process of identifying customers' needs, delivering and exchanging products that provides satisfaction for the users.
Which of the following activities is a function of marketing?
Functions of marketing include advertising, distribution, sales promotion, packaging, branding etc.
The business concept that states consumers would buy any item once it is of high quality is A.
The product concept explains that consumers will buy any item provided it is of high quality.
The concept applied by ABC Ltd if it analyses its customers' needs before providing goods to satisfy them is A.
The marketing concept involves the analysis of the customers' needs before providing the goods to satisfy the needs.
A component of place as a marketing mix element is
A component of place as a marketing mix element is distribution and this is tantamount to warehouse.
The environmental factor that influenced the relocation of a company from Lagos to Kano as a result of high taxes and levies is A.
The political factors are those variables such as government policies, taxation, levies etc are the environmental factors which influence the mobility of labour.
An element of the marketing mix that deals with storage of goods is A.
The marketing mix which deals with the storage or distribution as place. Other marketing mix include price, product and promotion.
A part of a product with a primary function of protecting the content is the
A part of a product with the main purpose of protecting the content of an item is the container. This is related to packaging.
Which of the following categories of products is classified based on usage?
Products are classified based on their usage into consumer and industrial goods. Consumer goods are used for direct satisfaction of the users while industrial goods are for the production of other goods.
Lubricants purchased by a firm and used up in their cause of operations are classified as A.
Industrial products are those items used by the industries such as raw materials, lubricants, fuel etc in the production of other goods and services.
Market is broadly classified as A.
The market is broadly divided into two namely: consumer and organizational markets. Organizational market sale goods and services to other firms for the purpose of aiding their activities or operations.
Which of the following buyers of products are classified as consumer market?
The households are also known as the consumer or buyers or users. They are individuals who buy goods and services for their personal consumptions.
Cognitive dissonance occurs when a customer
When a customer is dissatisfied with a product, this is known as cognitive dissonance.
A consumer's buying behaviour is influenced by
A consumer buying behavior is influenced by a variety of factors such as reference groups i.e the significant people which guide the consumer when making purchasing decisions e.g friends, family members etc.
The first step in the marketing research process is A.
The first step in the marketing research process is problem definition i.e defining the problem or issue that needs to be researched.
Which of the following information would be relevant in marketing research for industrial goods?
Understanding the product lifecycle can help marketers understand the different stages a product goes through. This will be needed for developing appropriate marketing strategy for each stage.
The pricing strategy adopted by KPKC Ltd is
The pricing strategy adopted by the company is skimming pricing. This involves setting a profits during the introduction stage of the product life-cycle.
The total cost of the beverage is
60×150=9000. 20% of 9000. Total cost = 20/100 × 9000 = #1800.
The selling price per pack is
The selling price per pack is #150 (cost price per pack #125 + 20% mark-up applied per the pricing strategy in Q17-18).
An advantage of using radio as a medium of advertising is that it has A.
An advantage of using radio as a medium of advertising is that it has wide geographical coverage or area.
Newspapers, magazines and pamphlets are examples of A.
Newspaper, magazine and pamphlets are all examples of print media.
The discount that is suitable for the company to achieve its objective is A.
The most suitable discount for the company to achieve its objective of encouraging bulk purchase is the quantity discount.
Another sales promotional incentive the company could adopt to stimulate sales is A.
Advertising is a promotional incentive used by a company to increases its sales.
The process of designing and producing containers and wrappers for a product is A.
Packaging is the process of designing and producing containers and wrappers for a product for the purpose of safety and easy movement.
A channel member responsible for bulk breaking is the
One of the functions of the wholesalers is breaking of bulk. They buy goods in large quantity from the producers and sell in small quantity to the retailers.
A highly priced industrial product would be distributed using a A.
A highly priced industrial product would be distributed by the use of selective distribution i.e using the competent limited number of middlemen to sell the product.
The use of private retail outlets in the sales and distribution of petroleum products in Nigeria is an example of A.
The use of private retail outlets in the sales and distribution of petroleum products in Nigeria is known as Exclusive distribution. This prevent competitors from selling the same product.
A document that contains information relating to goods being transported is A.
A waybill is a document which contains information relating to goods being conveyed or transported.
What of the following distribution methods is used by a sachet water company that sells its products to households?
Direct distribution involves selling products directly to the end users, bypassing the information or middlemen. This is opposite to indirect distribution.
The process of attaching or printing information about a product on the package is A.
Labelling is the process of attaching or printing information about a product on the package while branding is the process of creating and managing a brand for easy identification.
A function of marketing that deals with the movement of goods and salesmen from one location to another is A.
Transportation is a function of marketing which involves the movement of goods and salesmen from one location to another. Distribution is getting the right product to the right user at the right time.
Which of the following reasons would have influenced the company's decision to engage in international marketing but wants to minimize the risk involved?
The reason that would have influenced the company's decision to engage in information marketing but wants to minimize the risk involved is an increase in regulation in the foreign market.
The mode of entry that would be suitable for the company is A.
A joint venture allows a company to partner with a local company in the foreign market, sharing risks and resources. This can help minimize risks associated with entering a new market, as the company can leverage the local partner's knowledge.
An association of traders belonging to the same line of business is a A.
A cooperative society is an association of individuals who come together to achieve common goals such as business, promotion of welfare etc.
The process of entering a new market by paying a fee for using another company's brand name is A.
The process of entering a new market by paying a fee for using another company's brand name is known as franchising or licensing.
Ernest Ltd's efforts to promote and sell its fruit juice through the company's website is an example of A.
E-marketing involves the use of digital channels such as websites and social media to promote and sell products or services.
Services offered to customers by a firm to encourage continuous patronage of the company's products is A.
The after-sales service are those services offered by a firm to its customers to encourage continuous patronage of the company's products. E.g repairs, warranties, customer support etc.
Mr John who identified people's need for pop-corn and met it at a profit is a A.
A marketer is someone that indicates people's needs and come up with an idea of providing the goods to meet the wants of the people with the primary aim of making profit.
A factor that would be considered in the choice of transportation mode is A.
An important factor that would be considered in the choice of transportation mode is the location of the customers.
One distinctive feature of a supermarket is A.
Self-service is a distinctive feature of supermarkets. Customers are allowed to select products on their own rather than relying on a salesperson to assist them.
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