Correct Answer: A. Personal lifestyle

Explanation

(a) Political Factors: These are laws, procedures, practices and policies formulated by government to regulate and facilitate business activities. It also involves the stability or instability of the government.

(b) Cultural Factors: These are ways of life of people such as language, aesthetics and their perception. A marketer should learn to adjust to the culture of the people for hin to operate successfully.

(c) Technological Factors: These are changes, or advancement ín process, equipment and devices that are used to accomplish the tasks of the marketer or an organization.

(d) Economic Factors: These consist of inflation, national income and the economic system of a country. It also includes changes in the business cycle. A marketer should be able to adjust to such changes in order to operate successfully.

(e) Social Factors: These are values and norms of the society, interest groups. reference groups and social class. These factors influence buying decisions of Consumers.

Correct Answer: C. demand

Explanation

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.

Correct Answer: C. Informative advertising

Explanation

a.

(I) Product concept: This is an orientation that assumes that the customer will favour products that are of high quality. Thus, companies concern themselves with quality, performance and innovative product features

(ii) Selling concept: The selling concept is based on the assumption that even when products are of high quality, available and affordable, consumers would still not buy unless they are persuaded to buy. thus, companies engage in promotional efforts to break consumers' resistance.

(iii) Production Concept: this concept assumes that consumers would buy products that are available and at lower prices, thus companies Concern themselves with mass production.

(iv) Societal marketing Concept: It is the concept that assumes that when a company is making marketing decisions, she would put into consideration the societal long term interest.

b.

i. Calculation of markup

markup = Selling price - Cost

= 6,000 - 4,000

= 2000

ii. Calculation of percentage markup on cost

Percentage markup on cost = \(\frac {Markup} {Cost} \times \frac{100}{1}\)

= \(\frac{2,000}{4,000} \times \frac{100}{1}\)

= 50%

iii. Calculation of percentage markup on selling price

Percentage markup on selling price = \(\frac {Markup} {Selling Price} \times \frac{100}{1}\)

= \(\frac{2,000}{6,000} \times \frac{100}{1}\)

= 33.33%

Explanation

(a) EXPLANATION OF CONSULAR INVOICE AND WAYBILL:

(i) Consular Invoice is an dividence of credit sale. - It is an invoice used in international trade. -It serves as the evidence for the correctness of the price of the products it covers. - It is issued by the consulate of the country a broad, - It is used to calculate custom duties.

(ii) Waybill is a document issued by a carrier giving details and instructions relating to the shipment of a consignment of goods. - It shows details of the goods, all the parties to the good and mode of carriage, -lt wi ll be used to show details of goods it accompanies, the carrier and all conditions of carriage

( b) FACTORS THAT INFLUENCE LOCATION OF GROCERY BUSINESS

(1) Government policy - It must be located in ap lace not prohibited by the government for the type of business he wants to open and tax rate, law and social responsibility should be considered,

(ii) Nearness to customers- A business should be located near to the target market to reduce transport cost and ga in competitive delivery advantage.

(iii) Capital available - The level of money available to him will determine where he will locate his business because of the level of expenses,

(iv) Availability of man power- The area where labour is available and cheap should be considered when locating a business,

(v) Level of Competition The area where the activities of business rivals are very high should be considered so as to prepare for such Competitive activities.

(vi) Nearness to source of Supply-lie should consider the place to buy his goods so as to locate his business near to such place.

(vi) Type of business -Some businesses arc located close to residential areas while some arc located close to industrial area. Since he wants to engage in grocery business. he should site it close to residential area.

(vii) Availability of social amenities- Grocery business should be sited where there is electricity, good road, water supply and communication network.

Correct Answer: C. Consumer market

Correct Answer: D. marketing research

Explanation

The systematic process of obtaining and analyzing data to provide information for marketing decision making is marketing research. Marketing research involves gathering relevant data and conducting analysis to gain insights into market trends, consumer behavior, competitors, and other factors that can inform marketing strategies and decision-making processes. It helps businesses understand customer preferences, identify market opportunities, evaluate marketing campaigns, and make informed decisions to meet customer needs and achieve business objectives.

Correct Answer: C. Internet

Explanation

The means that would be used by BIK Ltd to make the health application available to the target market is the Internet. The Internet is a widely used platform for the distribution of digital services, including applications. By making the health application available on the Internet, BIK Ltd can reach a broad audience and make the service easily accessible to the target market. Users can download the application from app stores or the company's website, allowing them to access and use the health application on their devices. The Internet provides a convenient and efficient channel for distributing digital products and services like applications.

Correct Answer: B. Price