WAEC 2023 - MARKETING ANSWER


MARKETING OBJ
1-10: AACBAAADAC
11-20: DACBABDBAC
21-30: BCADCBAABB
31-40: ACDCDDDCBB


(1a)
(PICK ANY FIVE)
(i) They purchase goods in large quantities from manufacturers and store them in warehouses.
(ii) Wholesalers provide warehousing facilities to store goods and maintain inventory and ensure the availability of products to meet the demands of retailers
(iii) Wholesalers often assemble a variety of products from different manufacturers and create assortments that cater to the needs of retailers.
(iv) Wholesalers break down bulk quantities into smaller units suitable for retailers.
(v) Wholesalers take responsibility for transporting goods from manufacturers to retailers by organizing and coordinating the logistics involved in delivering products efficiently and timely.
(vi) They extend credit to retailers, allowing them to purchase goods on credit and pay later, which helps retailers manage their cash flow.
(vii) They provide valuable market insights to manufacturers, helping them make informed decisions
(viii) Wholesalers engage in promotional activities to create awareness and stimulate demand for products.

(1b)
(PICK ANY FIVE)
(i) The nature of the product, such as its perishability, fragility, or complexity, can influence the choice of distribution channel
(ii) Size of the market, geographical spread, and target customers' preferences play a role in selecting the distribution channel
(iii) The cost of distribution is a critical factor because the producers need to evaluate the expenses associated with each distribution channel option, including transportation, storage, handling, and commissions
(iv) The size and weight of product influences the choice a distribution channel
(v) Legal and Regulatory Factors is essential in choosing a distribution channel.
(vi) Customer reach and service can affect choice of distribution channel because it must align with the target customers' preferences and provide adequate reach and service
(vii) The capital available to the manufacturer will determiner the type of channel to adopt.
(viii) The level of control desired by the manufacturer will affect the choice of channel to be used.

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(2a)
(i)Need Identification: Mr. Oke recognized the need to purchase a television set for his family. This step involves identifying the requirements, preferences, and specifications of the product to meet his family's entertainment needs.

(ii) Research and Evaluation: After identifying the need, Mr. Oke conducted thorough research on different television models, brands, features, and prices. He gathered information from various sources

(iii)Decision Making: Once Mr. Oke had gathered sufficient information, he analyzed the available options and compared them against his requirements and budget.

(iv)Purchase and Post-Purchase Evaluation: After finalizing his decision, Mr. Oke proceeded with the actual purchase of the chosen television set. He identified the most reliable retailer and made payment.


(2b)
(PICK ANY FIVE)
(i) Organizational goals and objectives: The committee's buying behavior is influenced by the goals and objectives of the organization.
(ii) Budget and financial considerations: The financial resources available to the committee can greatly influence their buying behavior.
(iii) Organizational policies and procedures: Committees often have to adhere to specific organizational policies and procedures when making purchasing decisions.
(iv) Stakeholder input and influence: Committees are composed of multiple individuals representing various departments or functions within the organization
(v) Product specifications and quality: The specifications and quality of the product or service being considered will impact the committee's buying behavior.
(vi) Vendor reputation and relationships: The reputation and relationships with potential vendors can influence the committee's buying behavior.
(vii) Market trends and external factors: Committees also consider market trends, industry developments, and external factors that could impact their buying decision

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(3a)
(i) South Africa offers a potentially lucrative market with a sizable population and a growing economy.

(ii)JK Ltd may possess a competitive advantage in its industry or product offering, which it believes can be successfully leveraged in the South Africa market.

(iii)Expanding into a new market like South Africa allows JK Ltd to diversify its business operations, reducing dependence on a single market (Nigeria).

(iv) JK Ltd may have strategic objectives, such as global expansion, increased market presence, or access to resources, which align with entering the South Africa market.


(3b)
(i)Exporting: JK Ltd can choose to export its products from Nigeria to South Africa. It is relatively low-cost and allows the company to test the market before making larger investments.

(ii)Licensing or Franchising: JK Ltd could enter the South Africa market by licensing its products, technologies, or brand to local partners or franchising its business model.

(iii)Joint Venture: JK Ltd can form a joint venture with a South African company, creating a new entity that combines the resources, expertise, and market knowledge of both partners.

(iv)Direct Investment: JK Ltd could opt for direct investment by establishing a wholly-owned subsidiary or acquiring an existing company in South Africa.

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(4a)
PRODUCT:
(PICK ANY TWO)
(i) Product Design
(ii) Product Variety
(iii) Product Development
(iv) Product Life Cycle
(v) Product Differentiation

PRICE:
(PICK ANY TWO)
(i) Pricing Strategy
(ii) Price Adjustment
(iii) Price Elasticity
(iv) Price Positioning
(v) Price Skimming

PROMOTION:
(PICK ANY TWO)
(i) Advertising
(ii) Personal Selling
(iii) Sales Promotion
(iv) Public Relations
(v) Publicity

PLACE (Distribution):
(PICK ANY TWO)
(i) Distribution Channels
(ii) Channel Intensity
(iii) Logistics and Transportation
(iv) Channel Conflict
(v) Physical Distribution

(4b)
(PICK ANY FOUR)
(i) Economic Factors: Economic factors include elements such as inflation, interest rates, economic growth, etc. During periods of economic recession, consumers tend to reduce their spending, which can affect the demand for products and services.

(ii) Technological Factors: Technological factors refer to advancements and innovations in technology that can influence the marketing environment.

(iii) Social Factors: Social factors encompass societal trends, cultural norms and consumer attitudes and behaviors. These factors shape consumer preferences and influence their buying decisions.

(iv) Legal and Regulatory Factors: Legal and regulatory factors involves laws, regulations, and government policies that impact the marketing environment.

(v) Competitive Factors: Competitive factors include the actions and strategies of competing firms within the industry.

(vi) Environmental Factors: Environmental factors pertain to the physical and ecological conditions that can impact marketing activities. Increasingly, consumers are becoming more environmentally conscious, leading to a growing demand for sustainable and eco-friendly products.

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(5a)
(PICK ANY FIVE)
(i) Jo-Bo should ensure a different variety of products are available in his retail outlet to cater to different customer preferences and needs.
(ii) Jo-Bo should focus on providing high-quality products that meet or exceed customers expectations.
(iii) Jo-Bo should offer competitive prices for his products compared to other retailers in the area.
(iv) Jo- Bo should Provide excellent customer service for customer retention.
(v) Implementing a loyalty program or offering incentives such as discounts or reward points, for repeat customers.
(vi) Jo-Bo should ensure his retail outlet is visually appealing and well-organized.
(vii) Jo-Bo should engage in effective marketing strategies to create awareness and attract new customers.
(viii) Jo-Bo should actively seek feedback from customers to understand their needs and preferences better.

(5b)
(PICK ANY FIVE)
(i) By starting his own retail outlet, Jo-Bo can become financially independent.
(ii) Running a business allows Jo-Bo to gain valuable entrepreneurial experience.
(iii) By establishing his retail outlet, Jo-Bo contributes to job creation in his neighborhood.
(iv) As the owner of his business, Jo-Bo has the freedom to set his own working hours and make decisions independently.
(v) He will be able to learn continously and experience personal growth.
(vi) Establishing a retail outlet in his neighborhood can earn Jo-Bo recognition and respect from the community.
(vii) If Jo-Bo's retail outlet proves successful, he can consider expanding his business.
(viii) Building a successful business can potentially lead to long-term wealth creation for Jo-Bo.






WAEC 2023 - BOOK KEEPING ANSWER


BOOKKEEPING OBJ
1-10: BBBCCCDBAC
11-20: BCDDCACCBD
21-30: ACACADCABD
31-40: ABACDDCDBB


(1a)
(PICK ANY ONE)

Joint stock company is a type of business organization that is owned by shareholders who hold shares of its stock. It can also be refer as a type of business organization where the ownership is divided into shares of stock. It is a form of company

OR

Joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares


(1b)
(i)private limited company is typically owned by a small group of individuals or entities, often referred to as shareholders. WHILE public limited company, on the other hand, can have an unlimited number of shareholders.

(ii)Private limited companies tend to have a lower minimum share capital requirement compared to public limited companies WHILE Public limited companies often have higher minimum share capital requirements prescribed by law.

(iii)Private limited companies are not allowed to make public offerings of shares or invite the public to subscribe for their shares. WHILE Public limited companies can make initial public offerings (IPOs) to raise capital by issuing shares to the public

(iv)Private limited companies generally have a more flexible and less formal corporate governance structure. WHILE Public limited companies have more extensive corporate governance requirements

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(3a)
(PICK ANY ONE)

Product marketing is a strategic function within a company that focuses on promoting and positioning a specific product or service in the market to attract and satisfy customers.

OR

Product marketing is a strategic discipline that focuses on the promotion and positioning of a company's products or services to its target customers.It involves understanding the market, identifying customer needs and preferences


(3b)
(PICK ANY EIGHT)

(i) Utilize various advertising channels such as print media, television, radio, online platforms, social media, and digital ads to reach a wide audience.

(ii)Create informative and engaging content to educate potential customers about the new product.

(iii)Collaborate with influential individuals or industry experts who have a significant online following.

(iv)Leverage social media platforms such as Facebook, Instagram, Twitter, LinkedIn, and YouTube to engage with the target audience.

(v)Build an email list of potential customers and develop targeted email campaigns to introduce the new product.

(vi)Issue press releases to relevant media outlets and industry publications to announce the launch of the new product.

(vii)Organize live demonstrations or product showcases at trade shows, industry events, or in-store locations.

(viii)Offer free trials, samples, or limited-time promotions to encourage potential customers to try the new product.

(ix)Implement referral programs that incentivize existing customers to refer the new product to their friends, family, or colleagues.

(x)Collaborate with complementary businesses or influencers to cross-promote the new product.

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(7)


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(8)


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WAEC 2023 - CATERING PRACTICAL ANSWER



(1a)
(i) Stock
(ii)) Roux
(iii) Seasoning

(1b).
(i) Heating of the stock
(ii) Simmering stock, whisking continuously to prevent lumps from forming.
(iii) Cook the mixture
(iv) Season the velouté
(v) Strain and serve

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(2a)
(i) Choux paste: Strong flour (bread flour or high-protein flour)
(ii) Suet paste: Medium-strength flour (all-purpose flour or a blend of all-purpose and pastry flour)
(iii) Sugar paste: Low-strength flour (cake flour or pastry flour)
(iv) Short paste: Medium-strength flour (all-purpose flour or a blend of all-purpose and pastry flour)

(2b)
(PICK ANY FOUR)
(i) Mixing the dough: The process begins by mixing flour, water, and a pinch of salt together to form a dough. The dough is then kneaded.
(ii). Incorporating the butter: A block of butter is then placed on the dough, and the dough is folded over the butter to encase it completely.
(iii) Creating layers: The dough is folded into three layers like a letter. This is called a "single turn."
(iv) Chilling and resting: After each turn, the dough needs to rest and chill in the refrigerator.
(v) Repeating the turns: The folding and rolling process is repeated several times to create more layers.
(vi) Once all the turns are completed, the puff pastry dough is rolled out to the desired thickness and shape for the intended recipe.

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(3ai)
Garnish

(3aii)
(PICK ANY THREE)
(i) It enhances the visual presentation of the cocktail, making it more attractive and appealing to the consumer.
(ii) The slices of cucumber and orange can release their natural flavors into the cocktail, adding subtle hints of freshness and tanginess to enhance the overall taste experience.
(iii) It can release pleasant aromas that blend with the cocktail, contributing to the sensory experience and enticing the sense of smell.
(iv) It provides a contrasting texture to the drink, adding a crisp or juicy element that complements the liquid components of the cocktail.
(v) The presence of a parasol or other decorative elements can serve as a symbolic representation of a specific theme, occasion, or style associated with the cocktail, creating a more immersive and memorable drinking experience.

(3b)
(PICK ANY THREE)
(i) By Shaking
(ii) Stirring
(iii) Blending
(iv) Layering

(3c)
Jigger

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(4a)
(i) Dinner plate
(1) Soup bowl
(iii) Salad plate
(iv) Bread and butter plate
(v) Dessert plate

(4b)
(i) Red wine glass
(ii) White wine glass
(iii) Champagne flute

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(5a)
(i) Frying
(ii) Baking
(iii) Baking
(iv) Simmering
(v) Boiling, frying

(5b)
(i) Water
(ii) Stock
(iii) Milk