WAEC Commerce 2018 Theory — Question 5

Model answer

(a) Customer relationship: through marketing, the company develops an intimate/personal relationship with its customers. Market share stability: marketing helps a company maintain its market share, so as to continue meeting its sales level. Improving sales: marketing helps a company improve its level of sales. Customer education: marketing enables the firm to educate customers about the uses and benefits of its products. (b) Advertising: one of the most powerful promotional tools; through advertising, an agent can persuade prospective customers to buy the product. Sales promotion: this involves giving samples, buy-one-get-two offers, etc. to entice people to buy more of the product. Public relations: creating a special section for customers to meet company representatives and discuss issues related to the product. Direct selling: selling directly to customers to boost their morale and interest in buying more of the product.