WAEC Marketing Past Questions & Answers - Page 7

A benefit that ABC Foods would derive from advertising its products is an increase in market share. Advertising plays a crucial role in raising awareness about a company's products or services and attracting customers. By effectively promoting their products through advertising, ABC Foods can reach a larger audience, create brand recognition, and generate interest and demand for their products. As a result, ABC Foods can potentially increase its market share by capturing a larger portion of the target market and competing more effectively against other companies in the industry.

Based on the information provided, a suitable advertising medium for ABC Foods, which is searching for a lower-cost option to advertise its products, would be radio. Radio advertising can be a cost-effective option compared to television, newspaper, or magazine advertising, as it generally requires lower production costs and offers more affordable airtime rates. Radio advertisements can reach a wide audience, especially during peak listening times, and are often used to target specific demographics or geographic areas. Considering the objective of lowering advertising costs, radio advertising can be a suitable choice for ABC Foods to promote its products effectively within a budget.

A specialized facility used for the storage of fruits and vegetables is a refrigerator. Refrigerators are commonly used in homes, supermarkets, and commercial establishments to maintain low temperatures and control humidity levels, which help to extend the shelf life of perishable items like fruits and vegetables. Refrigerators provide a controlled environment that slows down the ripening process and helps to preserve the freshness and quality of the stored produce.

Demand is an economic concept that relates to a consumer's desire to purchase goods and services and willingness to payt a specific price for them.

Technogical factors include production techniques, information and communication resources etc. These affect how an organisation operates, sells its products, interacts with, and gathers intelligence on customers, suppliers and competitors.