WAEC Marketing Past Questions & Answers - Page 4

OJ Ltd, being a bakery that produces bread and confectioneries, is an example of a supplier operating in the reseller market. The reseller market consists of businesses that purchase products or services with the intention of reselling them to customers, rather than using them directly for their own operations. In this case, OJ Ltd sells its bakery products to Ernest Super Market, which acts as a reseller by purchasing the products for resale to consumers.

A form of sales promotion that rewards customers for consistently purchasing a company's product is a loyalty scheme. A loyalty scheme, also known as a customer loyalty program or rewards program, is designed to incentivize and reward customers for their continued loyalty and repeated purchases. Customers who participate in a loyalty scheme earn points, rewards, or other benefits based on their purchases or other predefined criteria. These rewards can include discounts, free products, exclusive offers, access to special events, or other incentives. By implementing a loyalty scheme, businesses aim to foster customer loyalty, increase customer retention, and encourage repeat purchases, ultimately strengthening the relationship between the customer and the company.

The selling concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the selling company's products. The organization must, therefore, undertake an aggressive selling and promotion effort.

The delivery note specifies the quantity of goods being delivered to the buyer. It may include details such as the number of units, weight, volume, or any other relevant measurement unit for the specific goods.

Societal responsiblity of marketing is a marketing concept that holds that a company should make marketing decisions not only by considering consumer's wants, the company;s requirements, but also societal's long term interests.