Question

3(a). State two differences between marketing and selling.
3(b). List four elements of the marketing mix.
3(c). Country Z has decided to leave the Economic Community of West African States (ECOWAS). As the adviser on the regional group, explain the benefits the country could derive from remaining in the group.

Accepted Answer

(a) Differences between marketing and selling: Marketing creates awareness for the goods while selling transforms the goods to money. Marketing focuses on customers' needs while selling focuses on the seller's need.

(b) Elements of the marketing mix: (i) Product; (ii) Price; (iii) Place; (iv) Promotion.

(c) Benefits of being an ECOWAS member: (i) It will promote economic cooperation among its members, so whoever leaves may not enjoy the cooperation. (ii) It avails members' citizens to move freely; thus, if Z leaves, her citizens cannot move freely within the ECOWAS region. (iii) ECOWAS maintains peacekeeping among its troubled members; this benefit will not be available for Z if she leaves. (iv) It provides an open border to member states, which Z will not enjoy as soon as she leaves ECOWAS.

WAEC Commerce 2023 Theory — Question 3

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