Correct Answer: A. Product concept.

Correct Answer: D. Quality Control

Correct Answer: C. audit

Correct Answer: A. keeping and making goods available when required

Explanation

(a). - Wholesalers purchase goods in large quantities from manufacturers or producers. They buy goods in bulk at discounted prices, leveraging their buying power to negotiate favourable terms and conditions.

- wholesalers maintain an inventory of goods to ensure a steady supply to retailers. They forecast demand, monitor trends, and stock a wide range of products to meet the varied needs of retailers.

- Wholesalers provide warehousing facilities to store and protect goods. They handle logistics, including receiving, storing, and organizing inventory eficiently.

- Wholesalers may inspect, sort, and grade the products they receive from manufacturers. This ensures that the products meet certain quality standards and are appropriately categorized before being distributed to retailers.

- Wholesalers repackage products to make them suitable for retail sale. They may remove bulk packaging and repackaging products into smaller units or create customized packaging solutions as per the requirements of retailers.

- Wholesalers arrange for the transportation of goods from the manufacturer's location to their own warehouse and subsequently to retailers. They coordinates with shipping companies, freight forwarders, and other logistics providers to ensure timely delivery.

- Wholesalers may offer credit facilities to retailers, allowing them to purchase goods on credit terms and pay later. This helps retailers manage their cash flow and inventory levels.

(b). - Nature of product: the nature of the product has a bearing on the choice of distribution channel. The durability of the product, unit cost of product, type of product must be considered while determining the distribution channel.

- Nature of market: the geographical width of the market, number of potential buyer, nature of competition has a bearing on selection of distribution channel.

- Size of business: the size of the business, financial strength of the concern determines the channel of distribution. A small producer may sell his distribution. A small producer may sell his product directly, while a large producer may use a longer distribution channel.

- Cost of channel: distribution process involves cost of transportation, warehousing, storage insurance, material handling, distribution personnel's compensation and interest on inventory carried at different selling points. Higher cost of distribution will result in the increased cost of product.

- Nature of middlemen: the producer must select those middlemen who provide the best marketing services like storage, transportation, credit and packing etc. At the same time the middlemen should ensure various services to customers.

Correct Answer: D. Offers unlimited access to customers

Explanation

a.

• (i) Warehouse provides facilities for grading, sorting and packaging of goods
• Warehouse provides protection to goods from loss or damage due to heat, dust, moisture, wind etc
• Warehouse helps to keep track of information regarding inflows and outflows of stock
• Warehousing performs, the function of storage of goods until they are needed
• Warehousing facilitates price stabilization by the creation of time utility:

b. (i)

• Air transportation
• Road transportation
• Water transportation
• Rail transportation etc

(ii)

• Waybill: this is a document used no by a carrier showing details and 8instructions regarding the goods Io being transported. It shows the names of the consignor and the Consignee, the point of origin, the destination of the goods.
• Consignment Note: this is a document prepared by a consignor and countersigned by the carrier as a proof of receipt of goods for delivery at a destination
• Delivery Note: this is a document that accompanies the shipment of goods and shows the description and quantity of goods declared. A copy of this document, signed by the consignee is returned to the consignor as proof of delivery.

Explanation

(a) - Access to new customers and markets

- Diversifying its business to reduce risk

- Taking advantage of new opportunities in South Africa

- Increasing profitability through economies of scale

(b) - Exporting

- Franchising

- Joint venture

- Wholly owned subsidiary

Exporting:

This mode of entry is suitable for JK Ltd as it requires low investment and allows the company to test the market with minimal risk. The main disadvantage is that it may be difficult to maintain quality control.

Franching:

This mode of entry allows JK Ltd to expand quickly and takes advantage of an already established business with knowledge of the South African market. However, it may be difficult to maintain control over the franchisee.

Joint venture:

This mode of entry allows JK Ltd to share the risks and expenses of entering the South African market with a local company. However, Jk Ltd may lose some control over the operations of the joint venture company.

Wholly owned subsidiary:

This mode of entry gives JK Ltd complete control over its operations in South Africa. However, it requires significant investment and may take longer to establish a presence in the market.

Explanation

a)External Environmental Factors that would Affect Mr. Okon's Business:

(i)PoliticalFactors: These include the procedures, practices and regulations of the government of the country in which the business is operated.

(ii) Economic Factors: These refer to the changes in the economic indicators.

(iii) Social factors: These refer to the population, age distribution and family patterns and their effects on the business operation of Mr.Okon.

(iv)Religious factors: These include the various religions practiced by the people in the region where Mr. Okon's business is located.

(v)Technological environment: This refers to the advancement in the devices, processes and equipment used in facilitating business operations of Mr. Okon.

(vi)Cultural factors: These include the beliefs, customs and lifestyles of the people in the region or country of Mr. Okon's operations.

(vii)Competitive factors: Mr. Okon could choose to establish his noodle company in dense competitive region to fight for market shares or he could move to a less competitive region.

(viii)Demographic factors: Noodle is a product that targets consumers ranging from 1 to 20 years old and their purchasing power is based on their parent's income and willingness to spend. Mr. Okon could adopt this marketing environment and relocate.

(ix) Ecological Factors: The raw materials needed for the production of noodle is wheat flour which is available in the Northern part of Nigeria. Mr. Okon could establish his business in Northern Nigeria or close to his target market. He would also consider the cost of power supply for the operations of his his machineries.

(b)Sales Promotional Tools Required to introduce the New Products to the Market:

(i) Samples: Mr. Okon will offer free mini noodles packs to prospective customers in order to encourage them to try the product.

(ii)Free gifts: Extra noodles would be given to prospective consumers for buying in large quantities (buy 5 and get I free).

(iii)Premiums: Mr. Okon can attach other customized items to the noodles carton for free or at reduced price as an incentive to buy the noodles.

(iv)Contests: This will give the potential customers the opportunity of winning an item.cash or other goods for buying Mr. Okon's noodle

(v)Trade-in allowance: This is an amount offered in return for the retailers who agree to sell the noodles for Mr. Okon.

(vi)Salesmen competition: Mr Okon would set sales quota and than their colleagues.

(vii)Discount: Mr Okon could use trade or cash discounts as incentives for marketing intermediaries to stock more of the noodle.

Explanation

a. Advertising is any paid form of non- personal presentation and promotion of ideas, goods and services by an identified sponsor.

b.

• Magazine
• Newspaper
• Radio
• Cinema
• Sign post
• Billboard
• Posters
• Internet
• Journal
• Television etc.

C.

• Cost of advertisement: This is too expensive and drains the funds of a Company
• Mislead: Advertisement sometimes misleads consumers in the choice of goods and services to purchase
• Leads to higher prices: Consumers are made to bear the cost of advertisement by paying more for the advertised goods and services.
• Encourages materialism: makes people desire goods and services they cannot afford.
• It encourages impulse buying etc.