2019 WAEC MARKETING

[08/04 9:57 am]

E͞n͞g͞r͞ N͞a͞s͞e͞e͞͞r͞ d͞a͞h͞e͞e͞

r͞: 5a Advertising is any communication, usually paid-for, specifically intended to inform and or influence one or more people.

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5b (1) direct mail (2) newspapers and magazines (3) radio advertising (4) television advertising (5) film advertising

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(6) outdoor advertising [08/04 10:03 am] E͞n͞g͞r͞ N͞a͞s͞e͞e͞͞r͞ d͞a͞h͞e͞e͞r͞: [08/04 10:02 am] E͞n͞g͞r͞ N͞a͞s͞e͞e͞͞r͞ d͞a͞h͞e͞e͞r͞: 5a Advertising is any communication, usually paid-for, specifically intended to inform and or influence one or more people.

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5b (1) direct mail (2) newspapers and magazines (3) radio advertising (4) television advertising (5) film advertising (6) outdoor advertising

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5c 1. It Is a Costly Function One strong objection to advertising is that it is a very costly function. Many studies have proved that the cost of ads exceeds that of sales by a small but significant percent. In theory, the high cost of advertising is covered by increased sales of the advertised product, but this usually is not the case. Advertising is an indirect cost which is added into distribution expenses. When expenses increase, the selling price of products does too.

E͞n͞g͞r͞ N͞a͞s͞e͞e͞͞r͞ d͞a͞h͞e͞e͞

With large advertisers spending thousands of dollars a week solely on ads and marketing, advertising costs make up a significant part of the price of an advertised product. Thus, consumers have to pay higher prices for products. Advertising is an economic waste because unbalanced advertising causes certain goods to cost more than they should.

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2. Misleading Claims About Products Some advertisers cleverly create misleading impressions of their goods—they present a very rosy picture of their products with the object of increasing their sales. In reality, their item is of inferior quality 3. Encouragement of Monopoly Advertisement restricts competition among products. Big industrialists and manufacturers can use advertising to increase their monopolistic control over the market against the public interest. Advertising increases awareness about a few products but causes all other options to be overlooked.

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4. Confusion About Characteristics of Products Many similar products are advertised on the market, but producers put great emphasis on minor differences in the formula, technique, or make of advertised goods. For example, there are many brands of shaving creams which perform the same function but are advertised as dramatically different products. Due to misinformation disseminated by advertising, it has become impossible for the average buyer to judge with any certainty the quality of the product they are buying. [08/04 10:03 am] E͞n͞g͞r͞ N͞a͞s͞e͞e͞͞r͞ d͞a͞h͞e͞e͞r͞: 6a)

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1. Storage: This is the basic function of warehousing. Surplus commodities which are not needed immediately can be stored in warehouses. They can be supplied as and when needed by the customers.

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2. Price Stabilization: Warehouses play an important role in the process of price stabilization. It is achieved by the creation of time utility by warehousing. Fall in the prices of goods when their supply is in abundance and rise in their prices during the slack season are avoided.

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3. Risk bearing: When the goods are stored in warehouses they are exposed to many risks in the form of theft, deterioration, exploration, fire etc. Warehouses are constructed in such a way as to minimise these risks. Contract of bailment operates when the goods are stored in wave-houses.

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4. Financing: Loans can be raised from the warehouse keeper against the goods stored by the owner. Goods act as security for the warehouse keeper. Similarly, banks and other financial institutions also advance loans against warehouse receipts. In this manner, warehousing acts as a source of finance for the businessmen for meeting business operations. [08/04 10:04 am] E͞n͞g͞r͞ N͞a͞s͞e͞e͞͞r͞ d͞a͞h͞e͞e͞r͞: 6b(i) the 3 mood of transportation are

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a. By land e.g car or lorries or train b. By air, e.g airplane c. By sea e.g ship and canoe [08/04 10:10 am] E͞n͞g͞r͞ N͞a͞s͞e͞e͞͞r͞ d͞a͞h͞e͞e͞r͞: 2b) i. Helps pooled resources ii. Helps inspired demands iii. Helps in branding products IV. Helps in networking v. Helps resist competitive production [08/04 10:16 am] E͞n͞g͞r͞ N͞a͞s͞e͞e͞͞r͞ d͞a͞h͞e͞e͞r͞: 6Bii 1. A waybill is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of goods. Typically it will show the names of the consignor and consignee , the point of origin of the consignment, its destination, and route .

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6bii 2 [08/04 10:18 am] E͞n͞g͞r͞ N͞a͞s͞e͞e͞͞r͞ d͞a͞h͞e͞e͞r͞: 1. A waybill is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of goods. Typically it will show the names of the consignor and consignee , the point of origin of the consignment, its destination, and route .

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6bii 2 consignment note A shipping agreement between the consignor of a shipment and the carrier of the shipment, which records the receipt of goods for shipment to a specified destination. The consignment note also specifies the consignee of the shipment and the fee for shipment, but unlike a bill of lading, is not a document of title.

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3. A delivery note is a document sent with a shipment of goods that describes the goods and the quantities being delivered. A delivery note is crucial in the shipment of goods. It will list the products that are contained within the package. Delivery notes generally don't include the prices of the goods being shipped.