WAEC Marketing 2023 Theory — Question 6

Model answer

1. Exporting - the company sells its products directly to foreign customers from Nigeria. 2. Licensing - the company grants a licence by entering into a contractual agreement with a South African firm to manufacture and sell its products. 3. Joint Venture - the company collaborates with other companies to manufacture and sell its products in South Africa. 4. Direct Investment/wholly owned subsidiary - the company establishes factories in South Africa to produce and sell its products directly. (Other acceptable: Franchising - allowing a South African company to use its trademark to sell its products for a fee.)