Correct Answer: C. Shopping product

Explanation

(a) List two Pricing Strategies Marketing: Two pricing strategies:

(i) Market penetration pricing strategy.

(ii) Market skimming pricing strategy.

(iii) Satisfactory rate of return.

(iv) Product line pricing.

(V) Discriminatory pricing strategy.

(vi) Psychological pricing strategy.

(vii) Competitive based pricing.

(viii) Predatory pricing strategy.

(ix ) Mark-up pricing strategy.

(x) Target return! profit pricing.

(xi) Differential pricing strategy.

(b) State four attributes of a product brand: Attributes of a product brand:

(i) The brand name should be easily remembered.

(ii) The brand symbol should be readily recognized.

(iii) The trade mark should be unique.

(iv) New and attractive brand mark should be used.

(v) The brand name should be short.

(vi) The brand name should be easy to pronounce.

(vii) It should reflect the nature of the product.

(vii) The brand name should be legal safe.

(c) Explain five importance of price to: producer: Importance of price to an organization:

(i) Raising of revenue - Price plays a pivotal role in the marketing of goods and services as it attracts revenue for the business.

(ii) Sales Volume - Price can be used to increase the volume of sales.

(iii) Product Value - Price can be used to determine the value of the product to the customer.

(iv) Corporate Image - Price can be used to build an image for the company.

(v) Product Quality Price gives a perception of quality a customer is likely to receive.

(vi) Prevention of Competition - Price can be used to prevent competitors from entering the market.

(vii) Profitability- It call he used to increase profitability.

(viii) Market Share - lt can be used to increase the company's market share.

(ix) In document- Price can be used to induce customers to purchase more of the company's products.

(x) Price helps the producer in marketing planning and analysis.

(xi) It helps the producer to compare between producing a product or outsourcing the product to another company.

(xii) Provide information about the product.

Correct Answer: C. Provision of government subsidies to foreign investors

Correct Answer: C. trade association

Explanation

Based on the given information, the organization formed by the yam sellers in Alesinloye trading area in Kano is most likely a trade association. A trade association is a voluntary organization composed of individuals or businesses in a specific industry or trade. It aims to promote the common interests and welfare of its members and may engage in activities such as advocating for industry-specific issues, providing resources and support to members, and fostering collaboration and networking within the industry.

Correct Answer: B. Overpriced

Correct Answer: B. customer's feedback

Explanation

A source of primary data for marketing research is customer's feedback. Primary data refers to data that is collected firsthand specifically for the purpose of the research study at hand. Customer feedback can be obtained through surveys, interviews, focus groups, or other direct interactions with customers. This data provides direct insights into customers' opinions, preferences, experiences, and behaviors, which are valuable for understanding consumer needs, improving products or services, and making informed marketing decisions. Sales reports, inventory reports, and marketing budgets are typically considered secondary data sources as they are already existing data within the organization and may have been collected for purposes other than the specific research study.

Correct Answer: B. societal marketing concept

Explanation

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.

Correct Answer: C. Barter trade

Correct Answer: A. Consumer market

Correct Answer: A. nature of products to be sold