WAEC Marketing Questions And Answers 2023 | Essay & Objectives

This article contains every important information that candidates of the 2023 May/June WAEC Examination need to have about the WAEC Marketing Questions and Answers 2023. If you are sure that you are going to sit for the exam, make sure that you read this post carefully to the end.

The WAEC Marketing Questions and Answers, both Essay and Objectives are now available on this website. This is to assist all interested and serious students in getting themselves ready as the main examination approaches fast.

With adequate preparation, candidates are definitely going to perform very well in the forthcoming examination. If you would like to get more detailed information about the WAEC Marketing Questions and Answers 2023, continue reading this article.

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Table of Contents

WAEC Marketing Objective Questions 2023
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Tips On How To Pass WAEC Marketing Examination

WAEC Marketing Objective Questions 2023

The following are the likely WAEC Marketing Objective questions for the 2023 examination:

1.The performance of business activities that direct the flow of goods and services from producer to consumer is

A. advertising.
B. marketing.
C. distribution.
D. promotion.

2.Goods produced for immediate consumption by a household is classified as

A. durable goods.
B. market goods.
C. industrial goods.
D. consumer goods.

3.One of the following is not a component of marketing mix.

A. Price
B. Product
C. Profit
D. Promotion

4.One of the following is not influenced by consumer behavior.

A. Life style
B. Culture
C. Religion
D. Distribution

5. The performance of business activities that direct the flow of goods and services from producer to consumer is

A. distribution.
B. marketing.
C. advertising.
D. promotion.

6. In Nigeria, the body that ensures that its members operate according to their professional ethics is the

A) MAN
B) NPF
C) SON
D) NAFDAC

7. The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the

A) Nigeria Investment Promotion Commission
B) Securities and Exchange Commission
C) National Council on Privatization
D) Bureau of Public Enterprises

8. The principle of indemnity is NOT applicable to

A) Marine insurance
B) Accident insurance
C) Fire insurance
D) Life assurance

9. The advertising medium which combines sight and sound is the

A) Print media
B) Television
C) Radio
D) posters

10.The selling of goods in small units is normally performed by

A, brokers,
B, wholesalers,
C, retailer’s.
D. distributors,

Continue Marketing Objective WAEC Questions

11. A storage facility that uses an advanced material handling system under the control of a central computer is

A. a public warehouse,
B. an automated warehouse.
C. a distribution warehouse.
D, a storage warehouse,

12. The way in which a product is delivered to meet the customers’ need is

A. new product concepts,
B. selling concepts.
C. advertising activities.
D, distribution activities.

13. The process of encouraging consumers to buy products at retail outlets is

A. advertising.
B. publicity.
C. merchandising.
D. distribution,

14. Another term for marketing is

A. direct marketing.
B. internet marketing,
C. electronic banking.
D. electronic purchasing,

15. A document that accompanies goods in transit is a

A.manifest.
B, waybill.
C, bill of sight.
D. credit note,

16. Marketing concept means

A. buying and selling to customers,
B. selling and distribution to customers.
C. satisfying customers’ needs and wants.
D. advertising and promotion to customers

17. Meeting customer expectation regarding the quality a product is

A. customer satisfaction.
B. customer excellent.
C. customer loyalty,
D. customer value.

18. Which of the following channels of distribution will be used by a company that wants to have control over its price?

A. Manufacturer — Consumer
B. Manufacturer — Agent — Consumer
C. Manufacturer — Wholesaler — Retailer—Consumer
D. Manufacturer —Agent —Retailer -—* Consumer

19. Which of the following is not an element of the marketing mix?

A. Place
B. Packaging
C. Price
D. Product

20. Competitive price in marketing is arrived at by

A. considering competitive demand for the product.
B. adding a mark-up to the cost price.
C. setting price in relation to competitors’ price.
D. adding a margin to the best price.

21. Marketing is defined as

A. buying and selling to customers.
B. selling and distribution to customers.
C. meeting customers need profitably.
D. Advertising and promotion to customers

22. A product by an organization for use in Carrying out a business is

A. an industrial product.
B. a specialty product.
C. a consumer product.
D. a convenience product.

23. Which of the following cannot be used to identify a product?

A. Trademark
B. Trade name
C. Pricing policy
D. Package

2023 Marketing Objective Questions

1. The performance of business activities that direct the flow of goods and services from producer to consumer is
A. distribution.
B. marketing.
C. advertising.
D. promotion.

2. Goods produced for immediate use by a household is classified as
A. industrial goods.
B. market goods.
C. durable goods.
D. consumer goods.

3. Which of the following is not a component of marketing mix?
A. Price
B. Product
C. Profit
D. Promotion

4. Which of the following is not influenced by consumer behavior?
A. Life style
B. Culture
C. Religion
D. Distribution

5. In Nigeria, the body that ensures that its members operate according to their professional ethics is the

A. SON

B. NPF

C. MAN

D. NAFDAC

6. The current highest decision-making body on privatization and commercialization of public enterprises in Nigeria is the

A National Council on Privatization

B Securities and Exchange Commission

C Nigeria Investment Promotion Commission

D Bureau of Public Enterprises

7. The principle of indemnity is NOT applicable to

A. Life assurance

B. Accident insurance

C. Fire insurance

D. Marine insurance

8. The advertising medium which combines sight and sound is the

A. Radio

B. Television

C. Print media

D. posters

Show Answer

9. The closure of the unregistered patent medicine stores is geared towards sound

A. economic environment

B. social environment

C. physical environment

D. legal environment

1O. The recommendation made by the Central Bank to the commercial banks in respect of their lending policy is known as

A. directives

B. moral suasions

C. advisory notes

D. consolidation

11. Waybill is a document driving details of goods sent by

A. public vehicle, train and air

B. train ad ship

C. ship alone

D. air alone

12. An association of the principal business concerns in an area is referred to as

A. Article of association

B. Memorandum of Association

C. Chambers of Commerce

D. Chambers of Companies

13. Commission salesman include the following except

A. Factors

B. Brokers

C. Del credere agents

D. Partners

14. Into which of the following two broad areas can trade be divided

A. home and foreign trade

B. wholesale and retail trade

C. imports and exports

D. visible and invisible trade

15. Which of the following is not true of sole proprietorship?

A. It has a separate legal entity

B. It has unlimited liability

C. It has slim chances of expansion

D. It can convert into a company

16. Commerce means

A. The creation of utility

B. Exchange of goods and services

C. Exchange and distribution of goods and services

D. Exchange and distribution of goods

17. The most common means of transport in the riverine area is

A. Bus

B. Canoe

C. Train

D. helicopter

18. Which of the following cheques could not be cashed across the counter?

A. Crossed cheque

B. Order cheque

C. Certified cheque

D. Bearer cheque

19. In marketing, any good or service that satisfies the consumer is called a

A. Place

B. Product

C. Promotion

D. price

2O. Which of the following is a non-consumable item in the office?

A. Furniture

B. Loose sheets

C. Office pins

D. File tags

21. One of the obstacles to achieving one objective of ECOWAS is

A. Lack of common currency

B. Colonial linkages

C. Sovereignty of states

D. Language differences

22. One of the main objectives of establishing the Niger River Basin Commission was to

A. Embark on a comprehensive survey of the available water resources

B. Carry out research for the development of fresh water fisheries

C. Develop infrastructures to facilitate economic activities

D. Promote trade among member-states to improve standards of living

23. The basic function of the Nigerian Port Authority is to

A. Ensure that the right caliber of personnel is employed at the ports

B. Coordinates and regulate the activities of shipping lines

C. Facilitate and control the movement of goods arid services into and out of the country

D. Coordinate the activities of all the seaports in the country

24. The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called

A. subrogation

B. contribution

C. re-insurance

D. identity

25. Goods imported to a country for the purpose of re-exporting attracts a rebate known as

A) customers drawback

B) export royalty

C) incentive

D) export rebate

26. The nominal value of a share as specified in the memorandum of association and the share certified is the

A. discounted value

B. stock value

C. face value

D. par value

27. “Caveat emptor” as a commercial legal word means

A. Let the seller beware

B. Let the producer beware

C. Let the buyer be awarded

D. Let the buyer beware

28. The main feature of a supermarket is the sale of

A. Office equipment only

B. Food stuff only

C. General household goods

D. Building materials

29. The ship that is used as a sea taxi is called

A. Linens

B.Tramps

C. Tankers

D. coasters

30. Which of the following is not a reward for labour

A. Profits

B. salaries

C. Wages

D. allowances

31. The person who calculates premium, sums assured and surrenders value in insurance contract is called

A. accountant

B. actuary

C. valuer

D. auditor

32.In the contract of sale of goods, let the buyer beware’ is signified by

A. del credence

B. caveat vendetta

C. caveat emptor

D. res ipsaloquitor

33. The main purpose of establishing a public corporation is to

A. provide employment

B. provide essential services

C. make profit

D. establish monopoly

34. Factorizing is a trade debt term used when the agent buys all the trade debts of the

A. Importer

B. Exporter

C. Nations

D. customers

35. Stevedores as a term in foreign trade means men who

A. inspect goods in ships

B. import goods by ships

C. collect duties

D. load and unload ships

36. A close indent is an instruction to an agent to

A. Order goods from a particular manufacturer

B. Order goods from any manufacturer

C. Sell goods in any form

D. Sell goods to a certain firm

37. Profit expressed as a percentage of the goods sold is referred to as

A. Margin

B. Mark up

C. Gain percentage

D. Gross profit

38. The main advantage of a sole trader is its freedom to

A. Employ anyone he likes

B. Seek advice from any source

C. Take quick decisions

D. Plough all the profits back into the business

39. In the case of voluntary liquidation of a business is (lie receiver is appointed by

A. Creditors

B. Debtors

C. Directors

D. Shareholders

40. When a company was more of loans than equity to finance its business, the company is said to be

A. Bankrupt

B. Solvent

C. High geared

D. In a strong liquid position

41. Rights issue means the

A. Issue of shares to the directors of a company on favourable firms

B. Issue of shares of a company only to the founder of the company

C. Rights of shareholder to vote on any issue

D. Issue of shares to shareholders on favourable terms

42. A term which indicates that a share is temporary suspended is

A. Ex-dividend

B. Un-dividend

C. Bond

D. stock

43. Excise duties are paid on goods that are

A. imported into the country

B. manufactured within the country

C. exported to other countries

D. kept in bonded warehouses

44. The business in the stock exchange is characterized essentially by

A. dealing

B. brokerage

C. speculations

D. transactions

45. The insurance policy which provides full cover against all risks at seas is known as:

A. policy with particular average

B. policy free of particular average

C. marine freight insurance

D. marine voyage policy insurance

46. A major liability of a commercial bank arises form

A. customers deposit

B. loans and advances

C. overdrafts

D. staff allowances

47. In the channel of distribution, which of the following sets is entirely made up of middle men?

A. Wholesales, retailers and agents

B. Manufacturers, consumers and retailers

C. Wholesales, agents and consumers

D. Retailers, manufacturers and wholesales

48. Most foreign trade transactions are paid through the use of

A. Central Bank cheques

B. Bank drafts drawn by commercial banks on their foreign branches

C. Irrevocable and confirmed letters of credits

D. Letters of credit authenticated by the embassies of the respective countries

49. The merger of two companies producing same type of produce is an example of

A. Vertical integration

B. Horizontal integration

C. Internal merger

D. An acquisition

Given:
Opening stock: ₦40,000.00
Purchases: ₦115,000.00
Closing stock: ₦60,000.00
Sales: ₦250,000.00

50. Which is the cost of goods sold?

A. ₦155,000.00

B. ₦95.000.00

C. ₦50,000.00

D. ₦30,000.00

51. The business organization in which shareholders have equal votes is

A. Sole proprietorship

B. Partnership

C. Cooperative

D. Limited liability company

52. One type of investment that has a variable income is

A. Debentures

B. Preferred shares

C. Government bonds

D. Ordinary shares

53. A public limited company can raise long term loans through

A. The capital market

B. The money market

C. Bank overdraft

D. Discount houses

54. The selling of article from place to place on foot is

A. Mailorder

B. Itinerant trading

C. Barter

D. Self service

55. Which of the following is the safest way of sending important document s through the post?

A. Registered mail

B. Parcel post

C. Letter post

D. Segmenting

56. Which of the following is an advertising function?

A. Packaging

B. Persuading

C. Grading

D. Segmenting

57. Unlimited liability in business implies that the

A. Risk of the owner is limited only to the amount invested

B. Debts are paid with subventions

C. Property of the owners should not’ be used to secure loans

D. Owners private property can be used to settle business debt

58. The practice of selling a product below the cost price to attract customers to a shop is known as

A. Hedging

B. loss leader

C. Skimming

D. Under-invoicing

59. The business environment that takes into cognizance the age distribution, ethnic mix and educational level of the consumer is

A. Demographic environment

B. Economic environment

C. Cultural environment

D. Natural environment

60. An announcement of a person’s willingness to enter into a contract is referred to as

A. A proxy

B. An offer

C. A consideration

D. An acceptance

WAEC Marketing Objective Answers 2023

To get the correct answers to the 2023 WAEC Marketing objective questions, you have keep visiting this site regularly. You can also start making use of any reliable Marketing textbooks to check answers to the already given questions.

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WAEC Marketing Theory questions 2023

(a) State five importance of middlemen in marketing.
(b)Explain five factors that can determine the type of channels of distribution to be used by a company.

2(a) What is a warehouse?
(b) Describe any three types of warehousing.
(c) State six functions of a warehouse

3(a) Explain the following:
(i) consular invoice
(ii) waybill

(b) Explain seven factors that will influence the place Tochukwu will locate his grocery business.

4(a) Explain five stages in marketing planning
(b) State five uses of feedback in marketing research.

5(a) What is merchandising?
(b) Mention four merchandising activities.
(c) State seven functions of merchandising.

Answers to WAEC Marketing Objective and Essay 2023

The correct answers to all the 2023 WAEC marketing objective questions are as shown below:

Note: The answers below are for 2022

OBJ Answers:

01-10 ABBDBBBCDD

11-20 ABDDCDCCBA

21-30 ACDABBBCAD

31-40 ACDABBBCBA

Essay

1ai)
Entrepreneurship is the act of coordinating the factors of production in a manner that makes a business venture profitable.

(1aii)
(i) Personal savings.
(ii) Loan and overdraft
(iii) Trade credit
(iv) Loan from cooperatives society

EXPLANATIONS:
(i) Personal savings: This is the funds put together by the entrepreneur.
(ii) Loan and overdraft: This is the funds from commercial banks.
(iii) Trade credit: This is the arrangement to receive goods and make payment in future date.
(iv) Loan from cooperatives society: This is the funds contributed via cooperative societies

(1b)
(PICK ANY SIX)
(i) Availability of customers.
(ii) Nearness to targeted customers.
(iii) Availability of road network.
(iv) The size of population.
(v) Availability and nearness to manufacturing plant.
(vi) Nearness to wholesaler and retailers.
(vii) Availabilty of raw materials
(viii) Availability of basic infrastructure
(ix) Economic policy

No 2 (a)

Marketing can be defined as the process of communicating the value of a product or services to customers. It is also a process by which companies create customer interest in products or services.

(2aii)
(Pick Any Six)

(i)Risk bearing
(ii)financing
(iii)storage/warehousing
(iv)Buying/selling/Exchange
(v)Grading and standardizing
(vi) Marketing information Research
(vii) Transportation

(2b)
(i)Production concept: The production concept is the idea that a firm should focus on in relation to those products that it could product most efficiently. This concept focusses more on solving the problems l of production and little concern for the public satisfaction.

(ii) Product concept: This concept assumes that customers will favour those products that offer the most quality for the price and therefore it is important for companies to produce quality products. It explains that customers are primarily interested in product quality.

(iii)The selling concept: Production of goods does not mean assure sales most times. The sales concept paid little attention to whether if the product was actually needed; the goal simply was to beat the competition to the sale with little regard to customer satisfaction

(iv) Marketing concept: Marketing concept focusses on increasing a company’s ability to compete and achieve maximum profits by marketing the ways in which it offer better value to customers than its competitors. This concept lay emphasis on marketing management with the twin goals of customer orientation and profitable sales volumes.

(4ai)
Need: These are basic human requirements. They are the basic forces that motivate a person to think about and do something/take action.

(4aii)
Wants: These are things which you wish to have but they are not above your need. wants also refers to a wish or desire to own goods and services that give satisfaction

(4aiii)
Exchange:This means the act of obtaining a needed/wanted object by offering something in return. It is a value of creating process.

(4aiv)
Demand: This is the want for a specific product backed by an ability to pay. It’s also consumer’s desire to purchase goods and services and willingness to pay a price for a specific good

(4av)
Transaction: Transaction us an exchange between two things of value on agreed conditions and time and place of agreement.

(5a)

(Pick any four)

(i)Marketing planning provides direction for all organization marketing effort

(ii)Marketing planning help organization to raise finance for capital expenditure

(iii)Marketing planning prevents time wasting on ineffectual marketing activities.

(iv)It save money by helping to ensure that the marketing budget is spent effectively

(v)It helps to identify. prerequisites to planned activities.

(vi)It helps to generate more clients by communicating effectively.

(5b)

(5bii)

(i)overseeing trade agreement

(ii)Reducing trade barriers

(iii)Reducing worldwide tariffs

(iv)Mediating dispute

(6a)

(Pick any Four)

(i)Derived Demand.

(ii)High concentration of production

(iii)Direct channel of distribution

(iv) Few Buyers And Large Volume.

(6b)

(i)Industrial market: It involves set of all

individuals and organizations that acqu

goods and services that enter into the

production of other products or service

that are sold, rented, or supplied to oth

(ii)Reseller market:A market consisting wholesalers and retailers who buy products for resale purposes.Resellers buy finished goods and resell them to next level in a given distribution chann

(iii)Government market: A government market is a market where the main buy are federal, state, and local governmen organizations. They purchase goods or services from private businesses.

(6b)

(i)Industrial market: It involves set of all individuals and organizations that acquire goods and services that enter into the production of other products or services that are sold, rented, or supplied to others.

(ii) Reseller market:A market consisting of wholesalers and retailers who buy products for resale purposes.Resellers buy finished goods and resell them to next level in a given distribution chart

More Answers loading…

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Note: The answers below are for 2021. The 2022 Answers will be posted soon.

(1a)

(Choose Any Five)

(i)Rent Rates & Taxes.

(ii)Workforce Availability, Labor Skills & Costs.

(iii)Roads, Highways & Traffic Flow.

(iv)Proximity to Airport, Railway Stations & Ports.

(v)Markets & Local – Environment Factors.

(vi)Building Availability & Utility Costs.

(1b)

(i)Receiving: operations that involve the assignment of trucks to docks, the scheduling and execution of unloading activities.

(ii)Storing: material’s movement from unloading area to its designated place in inventory.

(iii)Order Picking: the process of obtaining the right amount of the right products for a set of customer orders.

(iv)Shipping: execution of packing and truck’s loading after picking, involving also the assignment of trucks to docks

(v)Delivery: the transit time for transportation from the warehouse to the customer.

(2a)

(i) By chatting with unknown people

(ii)By sending and receiving pornography

(iii)By using bad language for e marketing

(iv)By pretending to be someone else

(v)By changing the internet address

(vi)By changing the voice mode while chatting

(2b)

(i) It will help to reduces the code of advertisement to Ajax LTD

(ii)It will helps the company to track the rate of return on their investment

(iii)It will helps to research on many customers at the same time

(iv)It will enables Ajax LTD to personalize messages effectively

(v)It will helps the company to know the number of their customers effectively.

No 5 (a)

Pick any four)
(i)Marketing planning provides direction for all organization marketing effort
(ii)Marketing planning help organization to raise finance for capital expenditure.
(iii)Marketing planning prevents time wasting on ineffectual marketing activities.
(iv)It save money by helping to ensure that the marketing budget is spent effectively
(v)It helps to identify. prerequisites to planned activities.
(vi)It helps to generate more clients by communicating effectively.

(5b)

(5bii)
(i)overseeing trade agreement
(ii)Reducing trade barriers
(iii)Reducing worldwide tariffs
(iv)Mediating dispute

(6a)

(Pick any Four)

(i)Derived Demand.

(ii)High concentration of production

(iii)Direct channel of distribution

(iv)Few Buyers And Large Volume.

(v)Professional buying

(6b)

(ii)Reseller market:A market consisting of wholesalers and retailers who buy products for resale purposes.Resellers buy finished goods and resell them to the next level in a given distribution channel.

(iii)Government market: A government market is a market where the main buyers are federal, state, and local governmental organizations. They purchase goods or services from private businesses.

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Tips On How To Pass WAEC Marketing Examination

If you really want to Pass WAEC Marketing Examination at one Sitting, I want to let you know that there are things that you must do to score very high in the examination. Those are what I have tag as “Tips on How To Pass WAEC Marketing Examination”. They including the following:

Read according to the WAEC Marketing Syllabus
Study past Questions Regularly
Learn How to Manage time well
Consult more than one Textbooks

Once you can put the above strategies into practice, your passing the examination is assured.

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WAEC Marketing Questions And Answers 2023 | Essay & Objectives

WAEC Marketing Objective Questions 2023

Continue Marketing Objective WAEC Questions

Recommended Posts:

2023 Marketing Objective Questions

More Practice Marketing Questions

WAEC Marketing Objective Answers 2023

WAEC Marketing Theory questions 2023

Answers to WAEC Marketing Objective and Essay 2023

Essay

Tips On How To Pass WAEC Marketing Examination

Related

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WAEC Marketing Questions And Answers 2023 | Essay & Objectives

WAEC Marketing Objective Questions 2023

Continue Marketing Objective WAEC Questions

Recommended Posts:

2023 Marketing Objective Questions

More Practice Marketing Questions

WAEC Marketing Objective Answers 2023

WAEC Marketing Theory questions 2023

Answers to WAEC Marketing Objective and Essay 2023

Essay

Tips On How To Pass WAEC Marketing Examination

Related

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