Question

6. Mr. Okon is planning to establish a noodle manufacturing company. He observed that the market for the product is large with many competitors.
(a) List and explain four external marketing environmental factors that would affect his business.
(b) Explain four sales promotional tools he would use to introduce his new products to the market.

Accepted Answer

(a) Demographic factors: includes the structure of the population, and its division according to sex, age group, marital status and profession. Ecology factor: involves the nature of the physical environment, important in distribution and marketing under the concept of intensive marketing. Social and cultural environment: the marketing management should prepare marketing plans according to the changing needs of society to satisfy new, growing needs. Public policy environment (legal and political forces): an uncontrollable factor that also affects the marketing environment.
(b) Samples: offers to consumers of a small amount of a product for trial. Coupons: a certificate that fetches buyers savings when they purchase a specified product, generally issued along with the product. Demonstration: required when products are complex and technical, so customers are educated on how to make proper use of the product. Contests: promotion events that give consumers the chance to win something such as cash, trips or goods.

WAEC Marketing 2022 Theory — Question 6

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