WAEC Marketing 2022 Theory — Question 2

Model answer

(a)(i) Marketing can be defined as all efforts channeled towards creating awareness about a product and promoting it in order to stimulate sales. (ii) Product design and development; gathering and analyzing market information; market planning for the introduction of a product; designing and implementing appropriate sales promotion; ensuring effective distribution of goods; conducting marketing research to know the status of a product. (b) Product concept: a marketing concept that emphasizes producing quality products at a cheaper rate. Production concept: a marketing concept in which the organization concentrates on the ability of its production processes. Selling concept: based on the idea of selling the company's products through large-scale marketing and promotional activities. Societal marketing concept: based on the idea that marketing should also consider the welfare of the entire society, examining broader strategy alongside the marketing concept.