Marketing
WAEC 2021
a). State five importance of marketing planning to an organization.
b) Mrs. Janet, a dry fish seller, formed an organization with other dry fish sellers for their common interest in a local market
I. identify the organization formed by Mrs Janet with other dry fish sellers
ii. State four functions the organization would perform to its members
Explanation
a.
- it enables an organization to satisfy its selected target market
- It prevents unnecessary expenditure
- It defines area of responsibilities for the marketing department
- It enables the company to measure its Set objectives if it is achieved or not .
- lt helps the company to cope manage future uncertainty by making provision for unforeseen occurrences in the marketing plan
- It enables a company to gain competitive advantage.
- It ensures smooth running of the daily Operations in the marketing department
- Marketing planning enables an organization to focus on the marketing objectives.
b)
- The organization formed by Mrs. Janet and other dry fish sellers is known as market Union/Association) union (Dry fish Sellers
- They settle disputes between members
- They can offer her financial assistance
- They can mandate the supply of quality dry fish to members from the producers ii.
- They contribute financially and attend ceremony organized by members
- They promote co-operation and unity among members
- They encourage joint purchase among members
- The union would educate its members on current supply price in the case of increase or decrease.
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